The price of electricity tomorrow, Tuesday, August 29, rises again and exceeds the barrier of 100 euros megawatt hour (MWh) on average. Newcomers on vacation who plan to wash their suitcases will keep a close eye on the most expensive and cheapest sections in order to save on the electricity bill on a day when the increase reaches 14.4% compared to the price of electricity this . Monday, according to the results of the auction held this Monday.
The gas cap, which was established in its day to try to contain the price of electricity, will continue to not be applied, since the price of this fuel on the Iberian Gas Market (Mibgas) remains below the limit of 60, 6 euros/MWh set by the Government in August.
The most expensive and cheapest hours of light on Tuesday, August 29
By time slots, electricity will reach its highest price between 08:00 and 09:00, with 139 euros/MWh, and the lowest, between 16:00 and 17:00, with 79 euros/MWh .
Average electricity price for Tuesday, August 29: 102.6 euros/MWh.
The most expensive electricity price on Tuesday, August 29: 139 euros/MWh.
Cheapest light price Tuesday, August 29: 79 euros/MWh.
Price of electricity tomorrow by time slots
From 00:00 to 01:00: 113.6 euros/MWh. From 01:00 a.m. to 02:00 a.m.: 105.0 euros/MWh. From 02:00 to 03:00 hours: 97.92 euros/MWh. From 03:00 to 04:00: 97.01 euros/MWh. From 04:00 to 05:00: 90.93 euros/MWh. From 05:00 to 06:00: 91.23 euros/MWh .From 06:00 to 07:00 hours: 110.72 euros/MWh.From 07:00 to 08:00 hours: 122.01 euros/MWh.From 08:00 to 09:00: 139.07 euros/MWh .From 09:00 to 10:00: 115.34 euros/MWh. From 10:00 a.m. to 11:00 a.m.: 90.51 euros/MWh. From 11:00 a.m. to 12:00 p.m.: 88.84 euros/MWh. From 12:00 to 1:00 p.m.: 86.29 euros/MWh. From 1:00 p.m. to 2:00 p.m.: 86.0 euros/MWh. From 2:00 p.m. to 3:00 p.m.: 81.2 euros/MWh. From 3:00 p.m. to 4:00 p.m.: 80.25 euros/MWh. From 4:00 p.m. to 5:00 p.m.: 78.91 euros/MWh. From 5:00 p.m. to 6:00 p.m.: 80.1 euros/MWh. From 6:00 p.m. to 7:00 p.m.: 85.5 euros/MWh. From 7:00 p.m. to 8:00 p.m.: 113.6 euros/MWh. From 8:00 p.m. to 9:00 p.m.: 133.66 euros/MWh. From 9:00 p.m. to 10:00 p.m.: 136.68 euros/MWh .From 10:00 p.m. to 11:00 p.m.: 122.08 euros/MWh. From 11:00 p.m. to 12:00 a.m.: 115.34 euros/MWh.
So far this month, electricity has cost an average of 95 euros/MWh, almost three times less than in the same period of August 2022, the most expensive month in history, while, since the beginning of the year, its The average price was 89.4 euros/MWh, compared to almost 230 euros/MWh the previous year.
In addition, electricity in Spain will be almost 76% cheaper tomorrow than on the same day in 2022, when it reaches 426 euros/MWh, and will be at lower levels than those of neighboring countries. In France, the average daily price will be 109 euros/MWh; in the United Kingdom, 96 pounds/MWh (almost 112 euros/MWh at the current exchange rate); in Germany, 123 euros/MWh; and in Italy, of 125 euros/MWh.
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.
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, commercialization, regrets 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 was already 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 softer.
In the original agreement, the quoted reference price for gas had an average value of €48.8/MWh: it was €40/MWh for six months, rising by €5/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 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.
