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The price of electricity will drop tomorrow, Friday: be careful with putting the washing machine on at this time

Date: April 21, 2024 Time: 02:59:06

The price of electricity tomorrow, Friday, July 14, 2023, drops. Regulated rate customers linked to the wholesale market are in luck because the price of light finally falls below the barrier of 100 euros per megawatt/hour (MWh) in which it has been for several days after falling by 14.6%. Even so, it will be better to find the cheapest time to put the washing machine on and use the air conditioning to keep the house cool after the high temperatures left by the second heat wave that has hit Spain. Beware those who want to stay up late watching TV today because it can be expensive for them.

The average price of electricity for regulated rate customers linked to the wholesale market will fall by 14.6% on Friday compared to this Thursday and in this way, the cost of electricity will fall to its lowest level since July 2, when it stood at 48.28 euros/MWh. The average for the electricity ‘pool’ so far in July stands at 96.1 euros/MWh, compared to the 142.66 euros/MWh set for the same month last year. thursday july 13

The most expensive and cheapest hours of light on Friday, July 14

By time slots, the minimum price, of 45.68 euros/MWh, will be recorded between 4:00 p.m. and 5:00 p.m., while the maximum price will be between 10:00 p.m. and 11:00 p.m., with 118 euro/MWh.

Average light price on Friday, July 14: 87.45 euros megawatt/hour 45.68 euros megawatt/hour.

Price of electricity today Monday by time slots

From 00:00 to 01:00: 117.95 euros/MWh. From 01:00 to 02:00: 110.0 euros/MWh. From 02:00 to 03:00: 105.0 euros/MWh .From 03:00 to 04:00 hours: 101.14 euros/MWh.From 04:00 to 05:00 hours: 92.13 euros/MWh.From 05:00 to 06:00 hours: 91.43 euros/ MWh. From 06:00 to 07:00: 100.0 euros/MWh. From 07:00 to 08:00: 104.79 euros/MWh. From 08:00 to 09:00: 104.39 euros /MWh. From 09:00 to 10:00: 85.07 euros/MWh. From 10:00 a.m. to 11:00 a.m.: 79.71 euros/MWh. From 11:00 a.m. to 12:00 p.m.: 75.23 euros/MWh. From 12:00 p.m. to 1:00 p.m.: 73.9 euros/MWh From 1:00 p.m. to 2:00 p.m.: 64.34 euros/MWh. From 2:00 p.m. to 3:00 p.m.: 56.62 euros/MWh. MWh. From 4:00 p.m. to 5:00 p.m.: 45.68 euros/MWh. From 5:00 p.m. to 6:00 p.m.: 57.42 euros/MWh. From 6:00 p.m. to 7:00 p.m.: 70.72 euros /MWh. From 7:00 p.m. to 8:00 p.m.: 80.7 euros/MWh. From 8:00 p.m. to 9:00 p.m.: 101.75 euros/MWh. From 9:00 p.m. to 10:00 p.m.: 110.0 euros/MWh. From 10:00 p.m. to 11:00 p.m.: 118.0 euros/MWh. From 11:00 p.m. to 12:00 a.m.: 102.05 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.

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 generally 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.

Why does the price of electricity vary in each time slot?

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 softer.

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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