Saturday price vine | The price of electricity changes along with the new tariff: the cheapest hours are this Saturday, February 17, for installation of equipment

The price of electricity provides respite for the weekend. If on Thursday it was 51.22 euros per megawatt-hour, and on Friday, February 16, it had already risen to 54.24 euros/MWh, then this Saturday it fell to an average of 48.69 euros/MWh . However, it is still significantly lower than the price paid a year ago, despite the increase in VAT from 5% to 10% on electricity and gas approved by the latest anti-crisis decree in January last year.

By time intervals

In the time slots, a maximum price of 82.93 EUR/MWh will be recorded from 20:00 to 21:00, and a minimum price will be recorded at noon (16:00 to 17:00) with a cost of 30.70 EUR/MWh. according to data from the Iberian Energy Market Operator (OMIE).

It is worth remembering that 2024 is full of new developments in the field of electricity tariffs. The new formula for calculating the regulated electricity tariff, the so-called Small Voluntary Price (PVPC), which covers about 8.5 million consumers, about a third of all domestic consumers, came into force on January 1 last year.

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 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 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.