Home News How To Save Money On Your Electricity Bill

How To Save Money On Your Electricity Bill

62
0
Money-Saving Tips Electricity Meters
Money-Saving Tips On Electricity. Image: Twitter

Consumers need to pay attention to their energy usage this Wednesday, February 21. There will be times when doing laundry, ironing, or using the oven is more economical. Read these money-saving tips to save money on your electricity bills.

Knowing the cheapest hours allows concentrating spending and saving on the monthly bill. The average reference for the entire day in the wholesale market will be €45.30 per megawatt-hour (MWh), according to the operator OMIE. Once again, there will be significant differences hour by hour.

The figures from the wholesale market are reflected in the consumer’s bill. The most expensive hour will be between 7:00 PM and 8:00 PM when the price on the bill will rise to €0.17972 per kilowatt-hour (kWh), based on data from Red Eléctrica. The cheapest hour, on the other hand, will be between 3:00 PM and 4:00 PM when the kilowatt-hour will cost €0.0915.

This was the hourly cost of electricity for this Monday, February 19, on the regulated tariff (PVPC, toll 2.0 TD), as collected by Red Eléctrica. These figures already include the cost of the daily and intraday wholesale market, adjustment services, financing, variable marketing costs, tolls, and charges. It may also include other concepts such as capacity payments, surpluses or deficits from renewable auctions, and costs for interruptibility services.

Price of electricity per hour:


00h
€0.09942/kWh
01h
€0.09728/kWh
02h
€0.09534/kWh
03h
€0.09353/kWh
04h
€0.09422/kWh
05h
€0.09905/kWh
06h
€0.09756/kWh
07h
€0.11294/kWh
08h
€0.14601/kWh
09h
€0.11239/kWh
10h
€0.14772/kWh
11h
€0.14586/kWh
12h
€0.14625/kWh
13h
€0.14201/kWh
14h
€0.09056/kWh
15h
€0.0915/kWh
16h
€0.09582/kWh
17h
€0.09963/kWh
18h
€0.16173/kWh
19h
€0.17972/kWh
20h
€0.16972/kWh
21h
€0.16145/kWh
22h
€0.10706/kWh
23h
€0.09972/kWh

Why does the price of electricity vary in each hourly segment?

The prices of the regulated bill are dynamic, indexed to the wholesale electricity market. Since the hourly energy demand is the factor that determines the price of electricity in each hourly segment, the cost of electricity per hour varies constantly. Thus, with higher demand during cold peaks—for heating—or heat—for air conditioning, for example—prices rise. Additionally, it is necessary to consider that costs such as adjustment services, marketing, tolls and charges, capacity payments, or interruptibility costs, among others, can vary each hour.

LEAVE A REPLY

Please enter your comment!
Please enter your name here