Saving on the price of electricity this Easter is even more necessary than usual, as with the month’s holidays we have more leisure time to enjoy and this implies more spending away from home. Therefore, when we are at home, we should try to erase euros from the account whenever possible.
And a good way to save is to pay attention to the cheapest times to turn on appliances. Checking the price of electricity today, tomorrow and any day of the week will make your outlay at the end of the month much smaller and you will notice extra savings, which is not bad considering the increase in the price of everything: from food and a basket of purchases for tobacco, mortgage or fuel.
But it is also that the price of electricity this Monday will drop so much that it will reach 0.10 euros/MWh depending on the time of day. Specifically, the average cost of electricity for regulated tariff customers connected to the wholesale market will drop this Monday by 30.48% compared to this Sunday, to 52.54 euros per megawatt hour (MWh), which represents the third Lowest price so far this month.
By time band, the lowest price will be registered between 3 pm and 4 pm, with 0.10 euros/MWh, while the maximum price will be between 00 am and 1 am, with 98.21 euros/MWh.
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.
Also, this Monday, the gas cap will remain without being applied, since the price of this raw material on the Iberian Gas Market (Mibgas) remains below the limit of 56.1 euros/MWh set by the Government for this month. The Iberian exception was extended until December 31, following the agreement reached by Spain and Portugal with the European Commission.
Thus, it extends for seven months, until the end of this year, and it is not excluded that it can be extended for a longer time if the referred framework is also extended. Specifically, the agreement not only represents an extension of the Iberian exception that was already applied, but also implies some adjustments to accommodate it, such as the price reference, which until now increased by five euros per month, and will now be smoother.
In the original contract, the aforementioned gas reference price had an average value of 48.8 euros/MWh: it was 40 euros/MWh for six months, increasing by 5 euros/MWh every month thereafter. Now, it will increase by 1.1 euros/MWh from April, to close at 65 euros/MW.
Currently, the mechanism has had no effect on marginal matching processes in wholesale markets since the end of February, due to the fall in the price of natural gas below the thresholds defined for its application, but, if necessary, the extension will allow maintaining a reasonable price , not so dependent on the evolution of natural gas.
To reduce consumption and lower your electricity bill, you can follow these tips:
To reduce consumption, it is advisable to:
– Turn off electrical appliances when we are away from home for a long period (vacation). Mainly the fridge which consumes up to 30% of the total household consumption.
– Avoid leaving them on “stand by” because they continue to spend, even if they don’t consume.
– Try to take advantage of the hours of sunlight to dry your clothes.
It is recommended:
– Use hot water wisely. It is advisable to take care that a faucet is never left open longer than necessary.
– In general, the temperature of the water between 30ºC and 35ºC it might be enough.
It is recommended:
– Progressively replace incandescent and halogen lamps with LED technology, as it consumes ten times less energy than incandescent lamps and has a useful life ten times longer, saving up to 85% of energy.
– Take advantage of natural light, turning off the light in naturally lit areas and whenever there are open spaces or glass walls that contribute to passive surveillance.
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