closes to 100 euros in full escalation of war in the Middle East

He price of electricity this October 4 it shoots in full war escalation in Middle East. Bad news for clients linked to the regulated rate of electricity, which will see the price increased this Friday by up to 70%. This makes it even more important locate the most expensive and cheapest hours of the day to try to save on the monthly electricity bill. On average, the cost exceeds 100 euros per megawatt hour (MW/h).

The price of electricity on October 4 per hour (OMIE)

This Friday, October 4th, electricity price rises 70% compared to this Wednesday, up to 98.98 euros/MWh on average. He maximum price It will be reached from 9:00 p.m. to 10:00 p.m. and will be 146.41 euros/MWh. He minimum price will be from 3:00 p.m. to 4:00 p.m. and its cost remains at 49.1 euros/MWh, according to data from the Iberian Energy Market Operator (OMIE).

How the electricity bill is formed

But in addition to these prices It must be taken into account that the invoices of consumers covered by the regulated market either Voluntary Price for Small Consumers (PVPC) They are made up of the energy term, which is what is consumed and varies every hour. This is why light is never ‘free’.

This in turn is formed by the pool price, tolls and charges and other services for the proper functioning of the electrical system. In addition, the receipts include other concepts such as contracted power, taxes (such as VAT) and equipment rental.

He final cost It is the one that will have to be taken into account to try to save and choose the cheapest time slots to use the appliances that consume the most, such as the washing machine, air conditioning or dishwasher.

Thus, the price of light What is consumed (the energy term) in the regulated tariff depends on several factors, hence it can never be free even though the price in the wholesale market is zero euros per hour.

This is how the PVPC of the price of electricity is calculated

From January 1, 2024, a new PVPC calculation structure for its indexation to the prices of the forward markets and reduction of its volatility, which affects the billing of the energy term of the regulated tariff. This hourly price curve is the result of adding the cost of energy production (the ‘pool’), the payments for transportation and distribution tolls and the charges that correspond to the energy consumed.

For his part, the production cost It is composed of the hourly price resulting from the daily energy market, published by the Iberian Electricity Market Operator (OMIE). Furthermore, these prices also take into account the cost of adjustment services managed by Red Eléctrica as system operator, in addition to other concepts included in current regulations.

He PVPCin the 2.0 TD rate, in force from June 1, 2021, replaced the three that existed until May 31, 2021 with a single one, which has a time discrimination in three periods for the application of tolls and regulatory charges. The most expensive (rush hour) will be in the morning, between 10 a.m. and 2 p.m. and in the evening, between 6 p.m. and 10 p.m.

The average price (flat hour) is today from 8 a.m. to 10 a.m., in the afternoon from 2 p.m. to 6 p.m. and at night from 10 p.m. to midnight. The cheapest (off-peak time) occurs between 0 and 8. All these times will apply to the Peninsula, the Balearic Islands and the Canary Islands. In Ceuta and Melilla, the periods start and end one hour later, except in the case of the flat period in the 23 to 24 hour section.

These periods are applied in the energy term and in the power term of the electricity bill of those consumers covered by the PVPC – contracted power of up to 10 kW – throughout the national territory.

Three appliances that increase your electricity bill

When we buy new appliancesit is important to take into account three fundamental aspects: their energy efficiency, use them correctly (some even have savings modes) and make sure that their consumption adapts to our electricity bill. However, there are some appliances that generally consume more electricity than others.

The dishwasher, although it is not an appliance present in every home, is one of those that requires the highest electricity consumption. According to OCU calculations, it can consume up to 246 kWh per year, which represents approximately 7% of total energy consumption and translates into up to 74 additional euros on the annual electricity bill. The same happens with the washing machine, which can consume up to 255 kWh per year, that is, about 77 euros extra on the annual bill. Finally, and logically, the refrigerator, which has an average consumption of 662 kWh per year, which means an increase of approximately 199 euros in the annual rate in the case of the PVPC.