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By John Ensor • Updated: 24 Mar 2024 • 10:57 • 2 minutes read
Electricity bill. Wolfilser/Shutterstock.com
With electricity rates set to increase on March 24, savvy consumers of electricity can save themselves a packet by checking the list below.
On Sunday, March 24, consumers linked to the regulated tariff and the wholesale market will face a steep hike in electricity costs, a jump of 232.84 per cent compared to the rates of March 23.
However, there’s a silver lining with 17 hours marked at €0 per megawatt-hour (MWh), offering a significant saving opportunity for those using high-consumption appliances like washing machines or dishwashers.
This increase brings the average electricity price to €6.69 per MWh. Experts suggest that utilising appliances during the cheapest hours is an effective strategy to cut down on electricity expenses.
The highest rate is expected to hit €34.84 per MWh between 9:00 pm and 10:00 pm. In contrast, the lowest price, at €0 per MWh, spans from midnight to 5:00 pm, as per the Iberian Energy Market Operator (OMIE) data.
To make the most of these zero-cost hours, consider rescheduling your energy-intensive tasks. Here’s a detailed breakdown of the hourly electricity prices for March 24.
Seizing the opportunity to operate your electricity-hungry appliances during these zero-rate hours can lead to noticeable savings on your energy bills. It’s a straightforward yet effective method recommended by energy experts to manage and reduce your monthly expenses.
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Originally from Doncaster, Yorkshire, John now lives in Galicia, Northern Spain with his wife Nina. He is passionate about news, music, cycling and animals.
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