Price of electricity today, Monday, May 13, 2024: what is the cheapest time to save?

Consumers will have to be vigilant this Monday, May 13.

Oliver Thansan
Oliver Thansan
11 May 2024 Saturday 23:05
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Price of electricity today, Monday, May 13, 2024: what is the cheapest time to save?

Consumers will have to be vigilant this Monday, May 13. There will be times when running the washing machine, ironing or using the oven will be more advisable. Knowing which are the cheapest allows you to concentrate your spending and save on your bill at the end of the month. The average reference for the entire day in the wholesale market will be 21.53 euros per megawatt hour (MWh), according to the operator OMIE. Again, hour by hour there will be big differences.

The wholesale market figures are reflected in the consumer's receipt. The most expensive hour will be reached between 8:00 p.m. and 9:00 p.m., when the price on the invoice will rise to 0.15462 euros per kilowatt hour (kWh), based on data from Red Eléctrica. The cheapest hour, on the opposite side, will be recorded between 2:00 p.m. and 3:00 p.m., when the kilowatt hour will be paid at 0.06384 euros.

This is the hour-by-hour cost of electricity for this Monday at the regulated rate (PVPC, toll 2.0 TD), according to Red Eléctrica. These figures already include the cost of the daily and intraday wholesale market, adjustment services, financing, the cost of variable marketing, tolls and charges. It may also have other concepts such as payments for capacity, surpluses or deficits from renewable auctions and costs for interruptibility services.

The regulated bill prices are dynamic, indexed to the wholesale electricity market. As the energy demand per hour is the factor that determines the price of electricity in each time slot, the cost of electricity per hour varies constantly. Thus, with greater demand in peaks of cold - for heating - or heat - for air conditioners, for example -, prices rise. In addition, it must be taken into account that costs such as adjustment services, marketing, tolls and charges, capacity payments or interruptibility costs, among others, may vary every hour.