The price of electricity tomorrow, Thursday, July 6, will force regulated rate customers to be more aware of the price for each hour of the day than today, Wednesday, because it rises. It does so by 5.04%, but this percentage will mean that the average price of the day for regulated rate customers linked to the wholesale market will further exceed the barrier of 100 euros megawatt/hour (MWh).
This will make more than one seek the most expensive and cheapest times of the day to put on the washing machine, plug in the air conditioning or think twice about using the oven to prepare food if the cheapest time of day for light does not coincide with the central hours of the day. On this occasion, people who stay up late and don’t mind putting an appliance on, as well as those who get up early because they may get a scare on their electric bill, will have to be especially careful.
The most expensive and cheapest hours of light on Thursday, July 6
Compensation to the 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 on the free market , have an indexed rate, but which are again at 0 euros/MWh, a situation that has been repeated since February 27.
By time slots, the minimum price, of 85.02 euros/MWh, will be recorded between 3:00 p.m. and 4:00 p.m., while the maximum price will be between 9:00 p.m. and 10:00 p.m., with 131 .83 euros/MWh.
-Average electricity price for Thursday, July 6: 111.94 euros megawatt/hour (MWh)
-The most expensive electricity price on Thursday, July 6: 131.83 euros megawatt/hour
– Price of the cheapest light on Thursday, July 6: 85.02 euros megawatt/hour
Price of electricity today by time slots
From 00:00 to 01:00: 125.0 euros/MWh.
From 01:00 to 02:00: 120.19 euros/MWh.
From 02:00 to 03:00 hours: 110.0 euros/MWh.
From 03:00 to 04:00 hours: 109.0 euros/MWh.
From 04:00 to 05:00 hours: 109.0 euros/MWh.
From 05:00 to 06:00 hours: 116.63 euros/MWh.
From 06:00 to 07:00 hours: 126.87 euros/MWh.
From 7:00 a.m. to 8:00 a.m.: 129.78 euros/MWh.
From 08:00 to 09:00: 127.55 euros/MWh.
From 9:00 a.m. to 10:00 a.m.: 116.89 euros/MWh.
From 10:00 a.m. to 11:00 a.m.: 106.78 euros/MWh.
From 11:00 a.m. to 12:00 p.m.: 92.02 euros/MWh.
From 12:00 to 1:00 p.m.: 98.08 euros/MWh.
From 1:00 p.m. to 2:00 p.m.: 89.5 euros/MWh.
From 2:00 p.m. to 3:00 p.m.: 86.67 euros/MWh.
From 3:00 p.m. to 4:00 p.m.: 85.02 euros/MWh.
From 4:00 p.m. to 5:00 p.m.: 88.1 euros/MWh.
From 5:00 p.m. to 6:00 p.m.: 98.93 euros/MWh.
From 6:00 p.m. to 7:00 p.m.: 110.01 euros/MWh.
From 7:00 p.m. to 8:00 p.m.: 120.81 euros/MWh.
From 8:00 p.m. to 9:00 p.m.: 131.15 euros/MWh.
From 9:00 p.m. to 10:00 p.m.: 131.83 euros/MWh.
From 10:00 p.m. to 11:00 p.m.: 129.85 euros/MWh.
From 11:00 p.m. to 12:00 a.m.: 126.87 euros/MWh.
Factors influencing price escalation
The increase in prices in most European countries is attributed to various factors, including the increase in the price of gas in 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?
The prices of the regulated bill are flexible and are 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 increase. 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.
Three appliances that raise your electricity bill
When we buy new electrical appliances, it is important to take into account three fundamental aspects: their energy efficiency, using them correctly (some even have saving modes) and making sure that their consumption adapts to our electricity bill. However, there are some appliances that, in general, consume more electricity than others.
The dishwasher, although it is not an appliance present in all homes, is one of those that requires the highest light consumption. According to OCU calculations, it can consume up to 246 kWh per year, which represents approximately 7% of total energy consumption and translates into up to 74 additional euros on the annual electricity bill. The same happens with the washing machine, which can consume up to 255 kWh per year, that is, an extra 77 euros on the annual bill. Lastly, and logically, the refrigerator, which has an average consumption of 662 kWh per year, which means an increase of approximately 199 euros in the annual rate in the case of the PVPC.
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 each 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.
