Electricity price tomorrow, Tuesday 5 November | The price of electricity will rise on Tuesday, November 5, in accordance with the new tariff: prohibitive hours for connecting appliances.
Monday, November 4, 2024, 8:13 p.m.
The price of electricity on Tuesday, November 5, brings bad news to Spanish consumers, who see the cost of energy rising again until it reaches 117.05 euros/MWh, up 7.5% from last Monday. Additionally, there are times when they are close to €200, so a regulated tariff customer should avoid them to save a few cents on the bill at the end of the month.
Time slots with zero or negative value disappear again for another day. Despite everything, the central moments of the day, from 12:00 to lunch, are once again becoming the most economical hours of the day.
Electricity price, per hour
In this sense the most expensive hour The electricity price on Tuesday, November 5th will be from 18:00 to 19:00, then it will be paid at 19:00. 193 EUR/MWh. Also to avoid the later range when it would be 186.2 euros. On the other side, cheapest hour It will be from 2.00 to 3.00 when it is turned on. 90.89 EUR/MWhThis is evidenced by data from the Iberian Energy Market Operator (OMIE).
Electricity cost per hour
| Time section | Euro/MWh |
| 00.00-01.00 | 101.47 euros |
| 01.00-02.00 | 94 euros |
| 02.00-03.00 | 90.43 euros |
| 03.00-04.00 | 90.89 euros |
| 04.00-05.00 | 91.1 euro |
| 05.00-06.00 | 101.47 euros |
| 06.00-07.00 | 115.17 euros |
| 07.00-08.00 | 124.09 euros |
| 08.00-09.00 | 133.14 euros |
| 09.00-10.00 | 118.23 euros |
| 10.00-11.00 | 105.87 euros |
| 11.00-12.00 | 95.28 euros |
| 12.00-13.00 | 94.92 euros |
| 13.00-14.00 | 99.25 euros |
| 14.00-15.00 | 109.5 euros |
| 15.00-16.00 | 111.33 euros |
| 16.00-17.00 | 115.54 euros |
| 17.00-18.00 | 123.62 euros |
| 18.00-19.00 | 193 euros |
| 19.00-20.00 | 186.2 euros |
| 20.00-21.00 | 154.45 euros |
| 21.00-22.00 | 126.63 euros |
| 22.00-23.00 | 121.28 euros |
| 23.00-24.00 | 112.23 euros |
VAT changes
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 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 a 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 quite represent the final amount of the electricity price for the consumer subject to the regulated tariff, since with the advent of 2024, a new method of calculating PVPC has been adopted, 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 quite 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, 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.
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 house.
– 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.