These will be the cheapest hours this Saturday


Madrid

Updated:

Keep

The
electricity price
drops drastically this Saturday in the regulated rate. The average cost will be 0.28794 euros per kilowatt hour. However, despite this drop in the rate announced by Red Eléctrica España (REE), off-peak hours will only be at dawn and between 2 and 5 p.m.

peak and off-peak hours

  • The cheapest: from 3 p.m. to 4 p.m. €0.23293/kWh
  • The most expensive: from 7:00 p.m. to 8:00 p.m. €0.33411/kWh

The average price of electricity in the wholesale market It will drop 0.54% this Saturday compared to this Friday, thus chaining its third consecutive day of falls.

Thus, the average price of the wholesale market this Saturday will be €223.36/MWh, which will mean just over one euro less compared to the €224.59/MWh this Thursday, according to data published by the Operator of the Iberian Energy Market (OMIE) collected by Europa Press.

By time slots, the maximum price of electricity for this January 29 will be between 8:00 p.m. and 9:00 p.m., with €263.03/MWh, while the minimum, €181.97/MWh, has been registered between 4:00 p.m. and 5:00 p.m.

The price of electricity hour by hour

  • 00-01 €0.29496/kWh
  • 01-02 €0.28475/kWh
  • 02-03 €0.26576/kWh
  • 03-04 €0.27417/kWh
  • 04-05 €0.27147/kWh
  • 05-06 €0.26471/kWh
  • 06-07 €0.27613/kWh
  • 07-08 €0.29385/kWh
  • 08-09 €0.30743/kWh
  • 09-10 €0.29995/kWh
  • 10-11 €0.29665/kWh
  • 11-12 €0.27801/kWh
  • 12-13 €0.27402/kWh
  • 13-14 €0.26776/kWh
  • 14-15 €0.26215/kWh
  • 15-16 €0.23293/kWh
  • 16-17 €0.23631/kWh
  • 17-18 €0.28467/kWh
  • 18-19 €0.31493/kWh
  • 19-20 €0.33411/kWh
  • 20-21 €0.33018/kWh
  • 21-22 €0.33098/kWh
  • 22-23 €0.32009/kWh
  • 23-00 €0.31467/kWh

The reasons for the rise

Compared to a year ago, the wholesale market price for this Saturday will be 371% more expensive than the one registered on January 29, 2021, of €47.39/MWh.

The prices of the wholesale market have a direct impact on the regulated rate -the so-called PVPC-, to which almost 11 million consumers in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market.

The rise in the electricity market in recent months is mainly explained by the high prices of gas in the markets and carbon dioxide (CO2) emission rights, at all-time highs this year.

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