The price of electricity in Spain on Thursday, March 31

March is to close as the month with the most expensive average electricity price in history.

The cost of electricity has doubled in a year with the average price of electricity for the month of March costing €283.3 per megawatt hour (MWh).

The average price of electricity on the wholesale market for this Thursday, March 31, will fall by 6.43% compared to its record on Wednesday and will stand at €239.37/MWh.

Despite the significant drop in the price for this Thursday, the levels are still very high compared to what was paid last year.

This Thursday the price of electricity will be a whopping 333.95% more expensive than the €55.16/MWh it cost on 31 March 2021, as reported by Las Provincias.

According to data published by the Iberian Energy Market Operator, the maximum price of electricity for this Thursday will be between 08.00 and 09.00 hours, at €290.57 euros/MWh, while the minimum, at €175.65, will be recorded between 17.00 and 18.00 hours.

Tips to reduce your electricity consumption from the Organisation for Consumers and Users (OCU) include never leaving the charger for your mobile phone connected to the mains when on stand-by.

The OCU says that having household items on stand-by means electricity customers spend 10 per cent than they consume.

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