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The price of electricity tomorrow Sunday drops: the cheapest time to put the washing machine

Date: May 29, 2024 Time: 20:41:52

The price of electricity tomorrow, July 30 for regulated rate customers linked to the wholesale market, will once again give pockets a breather for the fourth consecutive day. The price of electricity will fall tomorrow by 16%, to 67.8 euros per megawatt hour (MWh), its lowest price of the week. This weekend there will not be any free hours on the electricity bill, but there will be up to eight for less than 30 euros, without a doubt to take into account to take advantage of and use the appliances that consume the most, such as the dishwasher or the washing machine.

So far this month, electricity has been paid on average at 90.5 euros/MWh, compared to 259.7 euros/MWh produced a year earlier, and since 2023 the average price is 88.6 euros/MWh, less than half compared to the 220.6 euros/MWh of 2022. Compensation to gas companies would be added to this average pool price, which must be paid by consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC) or those who, despite being in the free market, have an indexed tariff, but which are again at 0 euros/MWh, a situation that has been repeated since February 27.

The most expensive and cheapest hours of light on Sunday, July 30

By time slots, electricity will reach its highest price between 10:00 p.m. and 11:00 p.m., with 114 euros/MWh, and its minimum price between 11:00 a.m. and 12:00 p.m., with 11.2 euros/MWh . In addition, there will be another six hours below 25 euros/MWh.

Average price of electricity on Sunday, July 30: 67.8 euros megawatt/hour (MWh) Most expensive price of electricity on Sunday, July 30: 114 euros megawatt/hour, 20 euros megawatt/hour

Price of electricity tomorrow Sunday by time slots

From 00:00 to 01:00: 99.1 euros/MWh. From 01:00 to 02:00: 92.9 euros/MWh. From 02:00 to 03:00: 90.45 euros/MWh. From 03:00 to 04:00: 92 euros/MWh. From 04:00 to 05:00: 90.83 euros/MWh. From 05:00 to 06:00: 95.66 euros/MWh. 06:00 to 07:00: 99.1 euros/MWh. From 07:00 to 08:00: 96.13 euros/MWh. From 08:00 to 09:00: 80 euros/MWh. From 09 :00 a.m. to 10:00 a.m.: 62.3 euros/MWh. From 10:00 a.m. to 11:00 a.m.: 25 euros/MWh. From 11:00 a.m. to 12:00 p.m.: 11.2 euros/MWh. From 12:00 p.m. to 1:00 p.m.: 24.5 euros/MWh. 1:00 p.m. to 2:00 p.m.: 25 euros/MWh. From 2:00 p.m. to 3:00 p.m.: 27.7 euros/MWh. From 3:00 p.m. to 4:00 p.m.: 25 euros/MWh. From 4:00 p.m. to 5:00 p.m.: 15.1 euros/MWh. From 5:00 p.m. to 6:00 p.m.: 20.25 euros/MWh. From 6:00 p.m. to 7:00 p.m.: 42.65 euros/MWh. From 7:00 p.m.: 00 to 20:00 hours: 75.83 euros/MWh. From 8:00 p.m. to 9:00 p.m.: 98.48 euros/MWh. From 9:00 p.m. to 10:00 p.m.: 112.82 euros/MWh. From 10:00 p.m. to 11:00 p.m.: 113.93 euros/MWh .From 11:00 p.m. to 12:00 a.m.: 110.95 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 energy demand at that moment, 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.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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