The price of electricity will rise today, Thursday, June 13, but there will be three hours left to connect household appliances at zero euros | What is the price of electricity tomorrow?
Wednesday, June 12, 2024 4:28 pm
He electricity price this ThursdayJune 13 is experiencing new growth after a break last Wednesday and averages 65.22 euros per megawatt/hour, up 18.26% from the previous day. Despite the bad news about the restoration, the new tariff restores free hourly sections of up to three hours at a price of zero euros. However, customers cannot be sure as there will be six points where €100/MWh will be exceeded.
It should be remembered that negative or very low prices do not mean zero euros on the bill, as there are fixed costs for the consumer in tolls, fees and system adjustments.
On the other hand, electricity bills fluctuate due to VAT, which is applied to bills based on electricity prices. And from July 1, the rate of this tax intends to decrease from the current 21% to 10%, as established by current legislation. This will happen if the average cost of electricity production exceeds 45 EUR/MWh. According to the Iberian operator OMIE, the average this month is already above 53 euros/MWh.
Electricity cost per hour
The price of electricity on Thursday, June 13th will have an impact. maximum peak from 7:00 to 8:00, while the payment will be 130 euros per megawatt hour. Other sections to avoid will be from 6:00 to 7:00 and from 21:00 to 22:00 at €120 and €111.81 respectively. In its turn, minimum According to the Iberian Electricity Market Operator (OMIE), it will be registered from 14:00 to 17:00 at a tariff of 0 €/MWh.
Electricity cost per hour
| Time section | Euro/MWh |
| 00.00-01.00 | 97.86 euros |
| 01.00-02.00 | 93.1 euro |
| 02.00-03.00 | 90.34 euros |
| 03.00-04.00 | 95.26 euros |
| 04.00-05.00 | 101.76 euros |
| 05.00-06.00 | 105.36 euros |
| 06.00-07.00 | 120 euros |
| 07.00-08.00 | 130 euros |
| 08.00-09.00 | 90 euros |
| 09.00-10.00 | 72.94 euros |
| 10.00-11.00 | 35.02 euros |
| 11.00-12.00 | 35 euros |
| 12.00-13.00 | 33.9 euros |
| 13.00-14.00 | 10 euros |
| 14.00-15.00 | 0 euro |
| 15.00-16.00 | 0 euro |
| 16.00-17.00 | 0 euro |
| 17.00-18.00 | 5.49 euros |
| 18.00-19.00 | 14.74 euros |
| 19.00-20.00 | 35.45 euros |
| 20.00-21.00 | 82.1 euro |
| 21.00-22.00 | 111.81 euros |
| 22.00-23.00 | 109.81 euros |
| 23.00-24.00 | 95.26 euros |
New tariff
In May, the average bill for a PVPC home was €54 (€48.85 in April). This increase occurs after April with completely unknown prices on the wholesale market (13.3 EUR/MWh), with moments of even negative prices. Despite this increase, VAT continues to remain at its usual level of 21%, as the VAT reduction to 10% only applies if the wholesale price exceeds €45/MWh.
In April last year, negative prices were recorded for the first time in the history of the electricity market. and in March we have already seen one of the lowest average pool prices in history for the month: 20 EUR/MWh, which is half the average price recorded in February and 77.5% lower than in March 2023, when it was 89.6 euro/MWh. MWh.
VAT 21%
In addition, in February, after recording an average below 45 EUR/MWh (the ceiling set by the Royal Decree of Urgent Measures), the electricity sector temporarily reinstated its value added tax (VAT) of 21% from March, a figure that continues to be maintained.
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 this 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.
Best rate
Now, with electricity prices almost at zero, 8.5 million PVPC tariff users (3% of the total) benefit from an almost ridiculous electricity cost of just four or five eurocents per kWh by adding fixed costs to the price. 0 euro generation. However, those who operate in the free market pay at least ten cents per kW consumed.
Calculation method
In addition, the “pool” does not fully reflect the final amount of the electricity price for the consumer subject to a regulated tariff, since with the introduction in 2024 a new method of calculating PVPC was adopted, which includes a basket of prices in the medium and long term 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:
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 might 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.