Electricity price tomorrow, Thursday, May 30 | The price of electricity will change this Thursday, May 30, according to a new tariff and will leave four hours without euros.

The price of electricity on Thursday, May 30, again brings good news to Spanish consumers: the electricity tariff fell to an average of 24.37 euros per megawatt hour, 23% lower than last Wednesday. Plus, the cost of electricity leaves a few spots open at midday, which will allow customers to plug in electronic devices in the home at a lower cost and save a few cents at the end of the month.

However, it should be taken into account that these negative or very low prices are not billed as zero euros, since there are fixed costs for the electricity consumer in terms of tolls, fees and system adjustments. It should be remembered that all this is happening in the context that at the beginning of the year the government implemented a change in the VAT rate from 5% to 21%.

Electricity cost per hour

This Thursday the cost of energy will reach its maximum peak from 00:00 to 01:00 and will be 50.94 euros per megawatt hour. The minimum price will be fixed for three hours, namely from 14:00 to 18:00, and will be 0 euros/MWh. We should also not exclude the price from 13:00 to 14:00, where it exceeds 0 euros by only a few tenths, according to data from the Iberian Electricity Market Operator (OMIE).

New tariff

In April last year, negative prices were recorded for the first time in the history of the electricity market. This fact has been repeated repeatedly over the past month, largely due to a string of storms that have brought heavy rain since Easter and which, with the help of wind, have allowed renewable energy sources to operate at full capacity. .

Moreover, in March we already observed one of the lowest average monthly pool prices in history: 20 EUR/MWh, half the average price recorded in February and 77.5% lower than in March 2023. when it was 89.6. euro/MWh.

The last Council of Ministers last year approved an increase in 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 these 45 euros/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.

Best rate

Now, with electricity prices almost at zero, 8.5 million PVPC tariff users (3% of the total) benefit from an almost ridiculous electricity cost of just four or five eurocents per kWh by adding fixed costs to the price. 0 euro generation. However, those who operate in the free market pay at least ten cents per kW consumed.

Calculation method

The “pool” does not fully reflect the final amount of the electricity price for a regulated consumer, as with the introduction of a new PVPC calculation method in 2024 that includes a basket of prices in the middle and long-term ones to avoid large fluctuations without losing short-term reference prices that encourage 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.

To reduce your consumption and lower your energy bills, you can follow these tips:

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 It might be enough.

Lightning

It is advisable:

– 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.