Electricity prices: What's the cheapest time of day today, Thursday, July 31?

Consumers will need to be vigilant this Thursday, July 31st. There will be times when it will be more advisable to run the washing machine, iron, or use the oven. Knowing the cheapest times allows you to concentrate your spending and save on your bill at the end of the month. The average reference price for the entire day in the wholesale market will be €64.22 per megawatt hour (MWh), according to the operator OMIE. Once again, there will be significant differences hour by hour.

Wholesale market figures are reflected on consumers' bills. The most expensive time will be between 9:00 PM and 10:00 PM, when the price on the bill will rise to €0.25119 per kilowatt hour (kWh), according to data from Red Eléctrica. The cheapest time, on the other hand, will be between 2:00 PM and 3:00 PM, when the kilowatt hour will be paid at €0.09095.

This is the hourly cost of electricity for this Monday at the regulated tariff (PVPC, 2.0 TD toll), according to Red Eléctrica. These figures already include the cost of the daily and intraday wholesale market, adjustment services, financing, variable trading costs, tolls, and charges. Other items may also be included, such as capacity payments, surpluses or deficits from renewable energy auctions, and costs for interruptibility services.

Cost on the bill Price per hour of electricity 00h 0.13247 €/kWh 01h 0.11970 €/kWh 02h 0.11411 €/kWh 03h 0.09684 €/kWh 04h 0.09619 €/kWh 05h 0.09759 €/kWh 06h 0.12544 €/kWh 07h 0.14602 €/kWh 08h 0.15796 €/kWh 09h 0.11778 €/kWh 10am 0.16256 €/kWh 11am 0.15591 €/kWh 12h 0.16370 €/kWh 1 p.m. 0.15423 €/kWh 2:00 PM 0.09095 €/kWh 3:00 p.m. 0.09148 €/kWh 4 p.m. 0.09156 €/kWh 5 p.m. 0.10128 €/kWh 6 p.m. 0.18629 €/kWh 7 p.m. 0.22208 €/kWh 8pm 0.24264 €/kWh 9 p.m. 0.25119 €/kWh 10pm 0.18149 €/kWh 11pm 0.16974 €/kWh Why does the price of electricity vary at each time slot?

Regulated bill prices are dynamic, indexed to the wholesale electricity market. Since hourly energy demand is the factor that determines the price of electricity at each time point, the hourly cost of electricity varies constantly. Thus, with increased demand during peak periods of cold weather (for heating) or hot weather (for air conditioning, for example), prices rise. It should also be taken into account that costs such as adjustment services, marketing costs, tolls and charges, capacity payments, and interruptibility costs, among others, may vary hourly.