Another drop in the price of electricity, which drops 7.18%, which adds to the 30.48% of the previous day. Thus, this Monday, April 10, it arrives with a little joy in the pockets of consumers and drops to 52.54 euros per megawatt hour, according to data communicated daily by the Iberian Energy Market Operator (OMIE).

Given that we continue in a context of high prices, energy saving experts advise families to ensure that household appliances that are not used are not used, to take short showers and, among other saving measures, to pay attention to the start-up of the five appliances that consume the most electricity: the dryer, the dishwasher, the refrigerator, the washing machine and the television.

half of last month

The average price of electricity so far in April is around 66 euros/MWh, around half of the 119 euros/MWh for the same period of the previous month. In addition, electricity will be 67% cheaper this Monday than a year ago, when its price reached 159.33 euros/MWh.

Natural gas and electricity prices have fallen in recent months due to factors such as the lockdowns in China and the savings policies implemented in Europe. However, specialists consider that it is very likely that by the end of the summer the situation will become more tense and the price of natural gas (and consequently electricity) will skyrocket again. Thus, the president of Naturgy, Francisco Reynes, pointed out this Tuesday that “the problem will arise when we have to replenish European gas deposits because last year we also did it with Russian gas and this year we removed it from the middle” .

In Reynes’ opinion, “the gas that Russia stopped sending cannot be compensated either with a lower demand, or with a greater supply of Liquefied Natural Gas, or with the replacement of gas by renewables that cannot replace the cycle matched to the rhythm that is needed” .

Electricity price this Monday, April 10

  • Cheapest time:
    From 3 pm to 4 pm, with €0.10/MWh.

  • most expensive time
    From 00:00 to 01:00, with 98.21€/MWh.

Advantages of the Iberian exception

The ‘Iberian mechanism’, which entered into force on June 15 and will remain in effect until December 31, limits the price of gas for electricity production to an average of 48.8 euros per MWh. This mechanism was approved after the price of electricity reached a maximum of 700 euros per megawatt hour in March this year.

The so-called ‘Iberian exception’ paves the way for natural gas to produce electricity starting at a price of 40 euros/MWh in the first six months. Subsequently, following the agreement between Spain and Portugal with the European Commission, it was approved that the monthly increase should be smoother. In this way, it increases by 1.1 euros/MWh since April, to end the year at 65 euros.

Practical tips for saving energy at home

In every house we have appliances of great electrical consumption. According to a study by OCU, the appliances that consume the most energy are, in this order: dryer, dishwasher, refrigerator, washing machine and television. What the consumer can do is make the most of the capacity of the refrigerators and adjust the thermostat between 4 and 6º, and above all, avoid leaving the door open for a long time. When choosing its location, it is very important that the refrigerator is located away from the oven, radiator or sunny window or balcony. Other tips to save on your electricity bill are not leaving cell phone chargers or headphones connected for longer than necessary, turning off devices that are not being used, not leaving the television on if you are not watching it, etc.