Save on energy today, Monday, May 20, 2024: Cheapest hours to turn on your washing machine

The price of electricity is rising. Today, Monday, May 20, 2024, the cost of electricity on the wholesale market (“pool”) is increasing. It should be added that the tax on electricity (IEE) and tax on the production of electricity (IVPEE) are increasing, therefore, the consumer receiving a regulated tariff must know the retail price of electricity in each of them at certain time intervals of the day. that you can run your home appliances at the cheapest hours. This will help you reduce your energy consumption when using your washing machine, oven or dishwasher, and you will also save on your energy bills at the end of the month.

Price of electricity from the wholesale market to the consumer

The price of electricity today rose to 32.72 euros per megawatt-hour (MWh), according to the Iberian Energy Market Operator (OMIE), representing an increase of 23.04% compared to the previous day (26.6 euros/ MWh).

The cost of electricity on the wholesale market is transferred to the consumer’s account daily. It also takes into account, among other things, the costs of adjustment services, marketing, financing, duties and fees such as auction interruptions or shortages. Thus, according to Red Eléctrica, the average price of electricity today is 0.1125 euros/kWh, compared to 0.08 euros per kilowatt-hour the day before.

Cheapest watches according to electricity tariff

The consumer will receive a cheaper energy bill at the end of the month if they take advantage of the cheapest hours of the day. For this reason, today, Monday, May 20, the most pocket-friendly electricity rates will be early morning and early afternoon.

In particular, the hour with the lowest electricity price will be from 14:00 to 15:00 at a price of 0.06473 euros/kWh. This will be the most recommended time of day for consumers to plug in their appliances so they can save on their energy bills at the end of the month. If you can’t take advantage of the cheapest time of day, this is another good time to lower your energy bills during regular hours:

The most expensive hours in the electricity tariff

On the other hand, the least appropriate time to turn on the washing machine, oven or dryer is in the evening. Although yes, from 21:00 to 22:00, when the price is per kWh. will rise to 0.17534 euros. However, there are other peak hours today, May 20, during which consumers should avoid turning on appliances if they want to reduce their energy bills:

Electricity price, per hour