these are the most expensive and cheapest hours
With the first frosts of autumn just around the corner, the price of electricity tomorrow, Thursday, October 3, wants to take a break and will drop an average of 14.5% to stand at 120.24 euros per megawatt hour (MWh) compared to the 140.63 euros of today Wednesday, according to the results of the auction held this Wednesday in the wholesale electricity market. Without the Iberian mechanism, which limits the price of gas for electricity generation, the wholesale price would be 124.4 euros/MWh, that is, only 4 euros more, according to data from the Iberian Market Operator of the Electricity (OMIE) and the Iberian Gas Market (Mibgas).
The final price on Thursday is the result of applying to the 122 euros/MWh set for tomorrow in the wholesale market the adjustment that must be paid by the beneficiaries of the gas cap to compensate the plants that use that material to generate electricity. That adjustment (-1.65 euros/MWh) will be due to the fall in the price of gas in the Spanish market to levels close to 40 euros/MWh, a barrier at which the Iberian mechanism comes into operation, as well as the use of rents of congestion obtained as a result of cross-border trade in electricity between France and Spain.
The most expensive and cheapest time
By time zones the cheapest will take place at dawn, between four and five. From 6:00 p.m. to 7:00 p.m. it will be when it will cost the most to use the light since its price rises to 172 euros. The final price for tomorrow will be more than 20% lower than a year ago, when it reached 154 euros. It will also be lower than what is paid in other European countries such as Italy (132 euros/MWh) or France (121). On the other hand, in Germany 103 euros/MWh will be paid, and in the United Kingdom, 101 pounds (about 117 euros). In Portugal, where the cap on gas for electricity generation is also applied by virtue of what is known as the “Iberian exception”, the price will be the same as in Spain, a country with which it shares a market.
From 00:00 to 01:00: 118.15 euros/MWh.
From 01:00 a.m. to 02:00 a.m.: 101.97 euros/MWh.
From 02:00 a.m. to 03:00 a.m.: 96.38 euros/MWh.
From 03:00 a.m. to 04:00 a.m.: 91.07 euros/MWh.
From 4:00 a.m. to 5:00 a.m.: 87.44 euros/MWh.
From 5:00 a.m. to 6:00 a.m.: 90.1 euros/MWh.
From 06:00 a.m. to 07:00 a.m.: 95.57 euros/MWh.
From 07:00 a.m. to 08:00 a.m.: 109.22 euros/MWh.
From 08:00 a.m. to 09:00 a.m.: 128.59 euros/MWh.
From 9:00 a.m. to 10:00 a.m.: 119.13 euros/MWh.
From 10:00 a.m. to 11:00 a.m.: 108.11 euros/MWh.
From 11:00 a.m. to 12:00 p.m.: 110.83 euros/MWh.
From 12:00 a.m. to 1:00 p.m.: 124.26 euros/MWh
From 1:00 p.m. to 2:00 p.m.: 127.82 euros/MWh.
From 2:00 p.m. to 3:00 p.m.: 132.03 euros/MWh.
From 3:00 p.m. to 4:00 p.m.: 131.76 euros/MWh.
From 4:00 p.m. to 5:00 p.m.: 137.91 euros/MWh.
From 5:00 p.m. to 6:00 p.m.: 142.81 euros/MWh.
From 6:00 p.m. to 7:00 p.m.: 172.28 euros/MWh.
From 7:00 p.m. to 8:00 p.m.: 154.15 euros/MWh.
From 8:00 p.m. to 9:00 p.m.: 136.25 euros/MWh.
From 9:00 p.m. to 10:00 p.m.: 130.92 euros/MWh.
From 10:00 p.m. to 11:00 p.m.: 127.05 euros/MWh.
From 11:00 p.m. to 12:00 a.m.: 112.04 euros/MWh.
Income dedicated to the electric bill
These prices have many users pending every day. Today it has been known that Spanish households dedicate an average of 11% of their income to paying the energy bill, a figure that rises to 25% in the case of the most vulnerable households, according to the study “The electricity bill in the home” carried out by the Homeowners Mutual Group. To deal with this situation, the population is taking individual measures but also at the community level. However, of the neighborhood communities that have installed energy efficiency improvements, only 16% requested some type of aid or subsidy, which was granted to 10%.
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