The price of electricity tomorrow, Saturday, July 29, will drop and there will be an hour that will only cost 25 euros per megawatt hour (MWh). The best time to use the appliances that consume the most in the home will be, including putting the washing machine. The price of electricity in the wholesale market will drop by up to 18% tomorrow and customers will notice that in their monthly electricity bills. the lowest price of the week, according to the results of the auction held this Friday.
So far this month, electricity has been paid on average at 91.3 euros/MWh, compared to 260.5 euros/MWh that arose in the same month of 2022, and since the beginning of this year the average price is of 88.7 euros/MWh, less than half compared to the 220.5 euros/MWh of the previous year.
The most expensive and cheapest hours of light on Saturday, July 29
By time slots, electricity will reach its highest price between 10:00 p.m. and 11:00 p.m., with 111 euros/MWh, and its lowest between 2:00 p.m. and 4:00 p.m., with 25 euros/MWh .
Average price of electricity on Saturday, July 28: 80.6 euros megawatt/hour (MWh) Highest price of electricity on Saturday, July 28: 111 euros megawatt/hour megawatt/hour
The cap on gas, which was established in its day to try to contain the price of electricity, will continue not to be applied tomorrow, since the price of gas in the Iberian Gas Market (Mibgas) continues below 59.4 euros /MWh, the limit set by the Government for the month of July.
Price of electricity tomorrow, Friday, July 28, by time slots
From 00:00 to 01:00: 103.09 euros/MWh. From 01:00 to 02:00: 100.07 euros/MWh. From 02:00 to 03:00: 99.1 euros/MWh .From 03:00 to 04:00: 99.1 euros/MWh.From 04:00 to 05:00: 98.48 euros/MWh.From 05:00 to 06:00: 99.0 euros/ MWh. From 06:00 to 07:00: 100.0 euros/MWh. From 07:00 to 08:00: 99.1 euros/MWh. From 08:00 to 09:00: 97.39 euros /MWh. From 09:00 to 10:00: 81.71 euros/MWh. From 10:00 a.m. to 11:00 a.m.: 75.5 euros/MWh. From 11:00 a.m. to 12:00 p.m.: 63.75 euros/MWh. From 12:00 p.m. to 1:00 p.m.: 59.34 euros/MWh From 1:00 p.m. to 2:00 p.m.: 41.0 euros/MWh. From 2:00 p.m. to 3:00 p.m.: 25.0 euros/MWh. MWh. From 4:00 p.m. to 5:00 p.m.: 33.57 euros/MWh. From 5:00 p.m. to 6:00 p.m.: 51.93 euros/MWh. From 6:00 p.m. to 7:00 p.m.: 73.1 euros /MWh. From 7:00 p.m. to 8:00 p.m.: 83.35 euros/MWh. From 8:00 p.m. to 9:00 p.m.: 100.65 euros/MWh. From 9:00 p.m. to 10:00 p.m.: 110.49 euros/MWh. From 10:00 p.m. to 11:00 p.m.: 110.86 euros/MWh. From 11:00 p.m. to 12:00 a.m.: 102.88 euros/MWh
Likewise, electricity in Spain will be 72% cheaper tomorrow than a year ago, when it reached 285 euros/MWh, although tomorrow it will be above the main neighboring countries, with the exception of Italy. In France, the average daily price for this Saturday will be 76 euros/MWh; in Germany, 76.7 euros/MWh; in the United Kingdom, 65.2 pounds/MWh (about 76 euros at the current exchange rate), and in Italy, 95.4 euros/MWh.
Factors influencing price escalation
The rise in prices in most European countries is attributed to various factors, including the rise in gas prices on international markets. This fuel is used in combined cycle plants and has a significant impact on determining market prices during most hours of the day. In addition, the increase in the value of carbon dioxide (CO2) emission rights also contributes to this situation.
Why does the price of electricity change in each hourly period?
Electricity bill prices are flexible and linked to the wholesale electricity market. For this reason, the price of electricity in each hourly period is determined based on the demand for energy at that time, which gives rise to a constant variation in the cost of electricity throughout the day.
For example, during periods of high demand due to extreme cold temperatures for heating or extreme heat for air conditioners, prices tend to rise. In addition, it is important to consider that the expenses associated with adjustment services, charges, capacity payments, marketing, expenses and the price for interruptibility, among others, can vary the price from one hour to another. With the entry into force in January 2024 of the new calculation methodology for the new regulated electricity tariff, it is expected to give more stability to the electricity market.
The Iberian exception
The so-called ‘Iberian exception’ has been extended until December 31, after the agreement reached by Spain and Portugal with the European Commission. Thus, it is extended for seven months, until the end of this year, and it is not excluded that it could be extended for a longer time if said framework is also extended.
Specifically, the agreement not only represents an extension of the Iberian exception that has already been applied, but also implies some adjustments to accommodate it, such as the price reference, which until now increased by five euros per month, and will now be smoother.
In the original agreement, the aforementioned reference price for gas had an average value of 48.8 euros/MWh: it was 40 euros/MWh for six months, rising 5 euros/MWh every month thereafter. Now, it will increase by 1.1 euros/MWh from last April, to conclude at 65 euros/MWh.
Currently, the Mechanism has had no effect on the Marginal Matching Processes in the Wholesale Markets at the end of February, due to the drop in the price of Natu Natural Gas below the thresholds set for its application, but, if necessary, the extension It will allow maintaining a reasonable price, not so dependent on the evolution of natural gas.
Three appliances that raise your electricity bill
When buying new electrical appliances, it is very important to take into account three key aspects: their energy efficiency, using them properly (some saving modes are available) and verifying that their consumption is adjusted to our electricity bill. However, certain appliances tend to use more electricity than others in general.
Although not every home has a dishwasher, this appliance is one of the most energy consuming. According to OCU calculations, its annual consumption can reach 246 kWh, which represents around 7% of total energy consumption and can translate into an increase of up to 74 euros in the annual electricity bill. The washing machine can also have a high consumption, reaching 255 kWh per year, which means an additional cost of about 77 euros in the annual bill. Finally, the refrigerator is the appliance that consumes the most energy, with an average of 662 kWh per year, which translates into an increase of approximately 199 euros in the annual PVPC rate.
