The average price for electricity on Tuesday continued the upward trend of recent days and rose to 62.72 euros per megawatt-hour. Quite high numbers, if you take into account the figures in which the cost of electricity has changed over the past week. However, these are far from the prices they were a year ago, when the electricity bill usually did not fall below 100 euros.
In this sense, light comes this year with new changes in fiscal matters, namely the change in VAT introduced by the government in 2024, which is now 10% compared to the previous 5%. This is why many users prefer to check the most economical time slots and be able to save a few cents at the end of the month.
By time intervals
The time slots will record a maximum price of 91.81 €/MWh from 19:00 to 20:00, while the minimum price will be observed in the early morning, namely from 2:00 to 5:00 am, when According to the Iberian operator energy market (OMIE), its cost will be 40 euros/MWh.
Electricity cost per hour
| Time section | Euro/MWh |
| 00.00-01.00 | 53.87 euros |
| 01.00-02.00 | 41.1 euro |
| 02.00-03.00 | 40 euros |
| 03.00-04.00 | 40 euros |
| 04.00-05.00 | 40 euros |
| 05.00-06.00 | 42.61 euros |
| 06.00-07.00 | 52 euros |
| 07.00-08.00 | 65.91 euro |
| 08.00-09.00 | 87.92 euros |
| 09.00-10.00 | 66.8 euros |
| 10.00-11.00 | 65 euros |
| 11.00-12.00 | 63.87 euros |
| 12.00-13.00 | 60.53 euros |
| 13.00-14.00 | 60.26 euros |
| 14.00-15.00 | 60.52 euros |
| 15.00-16.00 | 60.52 euros |
| 16.00-17.00 | 66.5 euros |
| 17.00-18.00 | 68.61 euros |
| 18.00-19.00 | 87.92 euros |
| 19.00-20.00 | 91.81 euros |
| 20.00-21.00 | 82.14 euros |
| 21.00-22.00 | 73.17 euros |
| 22.00-23.00 | 69.18 euros |
| 23.00-24.00 | 65 euros |
It is worth remembering that 2024 is full of new developments in the field of electricity tariffs. On January 1, a new formula for calculating the regulated electricity tariff, the so-called “Voluntary Price for Small Consumers” (PVPC), came into force, which covers about 8.5 million consumers, that is, about a third of all domestic consumers.
Unlike the calculation methodology used so far, introduced by the Electrical Sector Law No. 24/2013 and regulated by Royal Decree No. 216/2014, where the final price was fully indexed to the daily wholesale market, the new formula will partially include long-term forward price signals. To this end, since July 1 last year, reference marketers have been pre-purchasing part of the energy that the PVPC tariff will consume in 2024.
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 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 It may 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.
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