when it’s cheaper and more expensive

Tomorrow the price of electricity will rise. Electricity costs are outside the euro’s zero band last week, with regulated tariff customers locked into the wholesale market. On March 6, they will pay almost 34% more.. On average, the price of electricity remains at the level 45.47 euro megawatt-hour (MWh) – compared to yesterday’s 33.45 EUR/MWh-. Setting your washing machine to the cheapest clock, oven or appliances that use the most energy is the formula that experts always recommend to save on your energy bills.

The most expensive and cheapest watches

Maximum price 119.27 euro/MWhwill be recorded between 14:00 and 15:00.and the minimum price 3.87 euro/MWhwill occur between 13:00 and 15:00, according to the Iberian Energy Market Operator (OMIE).

Electricity price per hour

Three appliances that are increasing your energy bills

When we buy new equipment, it is important to consider three fundamental aspects: its energy efficiency, use them correctly (some even have saving modes) and make sure your consumption is adapts to our electricity bill. However, there are some devices that tend to consume more power than others.

He DishwasherAlthough this appliance is not found in all homes, it is one of the ones that require the highest electricity consumption. According to OCU calculations, it can consume up to 246 kWh per year, which is approximately 7% of total energy consumption and leads to an additional 74 euros on the annual electricity bill. The same thing happens with washing machine, which can consume up to 255 kWh per year, that is, about 77 euros in addition to the annual bill. Finally, and quite logically, Fridgewhose average consumption is 662 kWh per year, which means an increase in the annual rate of approximately 199 euros in the case of PVPC.

Factors influencing price increases

The rise in prices in most European countries is explained by various factors, including rising gas prices on international markets. This fuel is used in combined cycle power plants and has a significant impact on determining market prices during most hours of the day. In addition, the increasing cost of carbon dioxide (CO2) rights contributes to this situation.

Why does the price of electricity change in each time interval?

Electricity prices are flexible and linked to the wholesale electricity market. This is why the price of electricity in each hourly period is determined based on current energy demandwhich results in the cost of electricity constantly changing throughout the day.

For example, during periods of high demand due to extreme cold temperatures for heating or extreme heat for air conditioning, prices tend to rise. In addition, it is important to consider that costs associated with setup services, fees, capacity payments, marketing, tolls and continuity pricing, among other things, the price may vary from hour to hour. With the entry into force of January 2024, a new methodology for calculating the regulated electricity tariffThis is expected to bring greater stability to the electricity market.