Electricity price today | On Tuesday, the price of electricity will fall again: the cheapest hours at the new tariff
Monday, November 11, 2024, 7:54 p.m.
The price of electricity is once again providing relief to consumers’ pockets. And the cost will decrease again and make it 18.20% compared to this Monday. Thus, if yesterday the price was 77.91 euros per megawatt-hour (euro/MWh), then this year November 12 According to the Iberian Energy Market Operator (OMIE), the average price will be 63.70 euros per megawatt hour (MWh). This represents a drop of €14.21.
All consumers wishing to save a few euros on their bills are advised to check which times are the most expensive and the cheapest to connect appliances. The most economical ones will be located in the middle of the day, and the most outrageous ones will again be concentrated in the early morning and evening.
It must be taken into account that the “pool” does not accurately reflect the final amount of the electricity price for the consumer subject to the regulated tariff, since with the introduction in 2024 a new method of calculating PVPC was adopted, which includes a basket of medium and long-term prices to avoid strong fluctuations without losing short-term price targets that promote savings and efficient consumption.
Electricity price, per hour
In this sense the most expensive hour electricity prices on Tuesday, November 12, will be announced from 20:00 to 21:00 at the price 128.86 EUR/MWh. On the other side, cheaper watches will be from 11:00 to 16:00, where the cost will be less 4 euro/MWh.
Electricity cost per hour
| Time section | Euro/MWh |
| 00.00-01.00 | 65 euros |
| 01.00-02.00 | 49.97 euros |
| 02.00-03.00 | 49.78 euros |
| 03.00-04.00 | 45.38 euros |
| 04.00-05.00 | 31.24 euros |
| 05.00-06.00 | 49.84 euros |
| 06.00-07.00 | 70.2 euros |
| 07.00-08.00 | 102.66 euros |
| 08.00-09.00 | 102.67 euros |
| 09.00-10.00 | 69.98 euros |
| 10.00-11.00 | 4.31 euro |
| 11.00-12.00 | 3.32 euros |
| 12.00-13.00 | 3.32 euros |
| 13.00-14.00 | 3.32 euros |
| 14.00-15.00 | 3.32 euros |
| 15.00-16.00 | 3.32 euros |
| 16.00-17.00 | 49.84 euros |
| 17.00-18.00 | 102.67 euros |
| 18.00-19.00 | 115.06 euros |
| 19.00-20.00 | 120.76 euros |
| 20.00-21.00 | 128.86 euros |
| 21.00-22.00 | 120.28 euros |
| 22.00-23.00 | 119.92 euros |
| 23.00-24.00 | 113.87 euros |
VAT changes
The latest Council of Ministers last year approved increasing the VAT rate on electricity from 5% to 10% and maintaining this rate until the end of 2024, subject to maintaining MWh prices on the wholesale market. high, above 45 euro/MWh.
In particular, VAT will become 21% if the wholesale price is below this level in the calendar month preceding the last day of invoice. That is, all bills that include consumption for at least one day in March will have VAT of 21%. Only households receiving the social bonus are exempt from this increase, as their VAT will remain at 10% throughout 2024.
Calculation method
It should be remembered that the “pool” does not exactly represent the final price of electricity for the regulated consumer, as a new method of calculating PVPC has been adopted since 2024, which includes a basket of medium and long term prices to avoid large fluctuations without losing short-term price targets that promote savings and efficient consumption.
Thus, the share of the pool price link will be gradually reduced to include links to futures markets, so that they will be 25% in 2024, 40% in 2025 and 55% starting in 2026.
Pool
It should be remembered that the “pool” does not represent the final amount in the price of electricity for the consumer subject to a regulated tariff, since with the introduction in 2024 of a new method of calculating PVPC, which includes a basket of medium and long-term prices to avoid large fluctuations, it is not while losing short-term reference prices that promote savings and efficient consumption.
Thus, the share of the pool price link will be gradually reduced to include links to futures markets, so that they will be 25% in 2024, 40% in 2025 and 55% starting in 2026.
Tips to save on your energy bills
To reduce your consumption and lower your energy bills, you can follow these tips:
Household appliances
To reduce the consumption of household appliances, it is advisable to:
– Turn off electrical appliances when you are away from home for a long period (vacation). Especially the fridge freezer which consumes up to 30% of the total consumption of the home.
– Don’t leave them on standby as they continue to spend even when they are not consuming.
– Try to use a sundial to dry your clothes.
Hot water
It is always recommended:
– Use hot water wisely. It is advisable to ensure that the tap is never left open more than necessary.
– Overall water temperature between 30°C and 35°C may be enough.
Lightning
Recommended:
– Gradually replace incandescent and halogen lamps with LED lamps, as they consume ten times less energy than incandescent lamps and have a service life ten times longer, saving up to 85% of energy.
– Make the most of natural light by turning off lights in naturally lit areas and anywhere there are open spaces or glass walls that encourage passive viewing.