Electricity prices drop tomorrow: Find the cheapest time

Planning on doing any laundry soon? A quick glance at the list below may just save a few euros.

Friday, March 22, sees a significant drop in electricity costs. Customers on regulated tariffs linked to the wholesale market will witness a 37.60 per cent decrease from today’s prices.

The average cost will hover around €22.40 per megawatt-hour (MWh), making it an ideal day for operating high-consumption appliances.

Optimal times for energy use

According to the Iberian Market Operator of Energy (OMIE), energy prices will vary widely throughout the day. The peak price is set at €56.95/MWh between 7:00 pm and 8:00 pm. Conversely, the lowest rate (in bold) will be just €1/MWh from 2:00 pm to 3:00 pm.

March 22 – Detailed hourly electricity costs

From 12:00 am to 1:00 am: €24.54/MWh
From 1:00 am to 2:00 am: €19.56/MWh
From 2:00 am to 3:00 am: €16.58/MWh
From 3:00 am to 4:00 am: €15.96/MWh
From 4:00 am to 5:00 am: €18.14/MWh
From 5:00 am to 6:00 am: €24.32/MWh
From 6:00 am to 7:00 am: €34.19/MWh
From 7:00 am to 8:00 am: €49.79/MWh
From 8:00 am to 9:00 am: €34.7/MWh
From 9:00 am to 10:00 am: €19.59/MWh
From 10:00 am to 11:00 am: €14.07/MWh
From 11:00 am to 12:00 pm: €6.52/MWh
From 12:00 pm to 1:00 pm: €2.91/MWh
From 1:00 pm to 2:00 pm: €2.1/MWh
From 2:00 pm to 3:00 pm: €1/MWh
From 3:00 pm to 4:00 pm: €2.94/MWh
From 4:00 pm to 5:00 pm: €3.35/MWh
From 5:00 pm to 6:00 pm: €15.33/MWh
From 6:00 pm to 7:00 pm: €34.67/MWh
From 7:00 pm to 8:00 pm: €56.95/MWh
From 8:00 pm to 9:00 pm: €53.57/MWh
From 9:00 pm to 10:00 pm: €34.87/MWh
From 10:00 pm to 11:00 pm: €28.78/MWh
From 11:00 pm to 12:00 pm: €15.31/MWh

Utilising appliances during the cheapest hours is a strategy experts always recommend for reducing your electricity bill.

This approach becomes particularly effective on days like March 22, where significant savings can be made by timing your energy usage. Keep an eye on the clock and plan your high-energy tasks accordingly to take full advantage of the lower rates.