Price of LIGHT for TOMORROW | The price of electricity will change this Friday, November 29, with a new tariff: the most expensive and the cheapest hours.

Good news for consumers. The price of electricity on Friday, November 28, will be 127.16 euros/MWh, according to data published by the Operator of the Iberian Energy Market (OMIE). This represents a drop of 3.80% (€5.03) compared to the previous day. If these data are compared with the same date last year, it is clear that the price of electricity is 49.60% more expensive than a year ago. This is another reason to try to save as much as possible on our account.

To do this, you need to pay attention to the dynamics of the price of electricity per hour. This way we will find out in which areas electricity is cheaper. We can take the opportunity to switch on our technology and thereby optimize its use, saving a few euros in the process.

The cheapest hour of electricity will be from 4:00 to 5:00 in the morning, then its cost will be 102 euros. On the other hand, the most expensive time will be between 19:00 and 21:00 at a price of 155.95 euros.

Electricity cost per hour

Again, at no point during the day will the price be below 100 EUR/MWh. Here is the price of electricity per hour for this Friday, November 29:

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 the social bonus are exempt from this increase, as their VAT will remain at 10% through 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.

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.