Best times for energy savings

Save on electricity bills

How to lower electricity expenses. Credit: Michaela Jilkova/Shutterstock.com

Could you be missing a chance to cut your energy bills? By taking note of the hourly rates there is a great opportunity to make savings.

On Tuesday, May 7 , electricity prices are set to drop significantly for consumers on the regulated tariff, with several hours marked at zero euros.

Over two million consumers linked to this tariff will benefit from a substantial 12.07 per cent decrease in prices compared to today. Experts consistently suggest timing heavy appliance use—like washing machines and ovens—during these lower-cost hours as a savvy way to reduce monthly bills.

Optimal and peak pricing times

The Market Operator Iberico de Energia (OMIE) has announced the fluctuating electricity rates for Tuesday. The peak rate will reach €99.87/MWh between 7:00 am and 8:00 am, making it the most expensive hour.

Conversely, the rate will fall to €0 from 12:00 pm to 7:00 pm, offering seven consecutive hours of no-cost electricity—a perfect window to run power-hungry household appliances.

Hourly electricity rates

Tuesday, May 7

  • From 00:00 am to 01:00 am: €81.73/MWh
  • From 01:00 am to 02:00 am: €77.64/MWh
  • From 02:00 am to 03:00 am: €74.77/MWh
  • From 03:00 am to 04:00 am: €68.24/MWh
  • From 04:00 am to 05:00 am: €66.82/MWh
  • From 05:00 am to 06:00 am: €69.09/MWh
  • From 06:00 am to 07:00 am: €75.98/MWh
  • From 07:00 am to 08:00 am: €99.87/MWh
  • From 08:00 am to 09:00 am: €75.62/MWh
  • From 09:00 am to 10:00 am: €35/MWh
  • From 10:00 am to 11:00 am: €10/MWh
  • From 11:00 am am to 12:00 pm: €3.6/MWh
  • From 12:00 pm to 1:00 pm: €0/MWh
  • From 1:00 pm to 2:00 pm: €0/MWh
  • From 2:00 pm to 3:00 pm: €0/MWh
  • From 3:00 pm to 4:00 pm: €0/MWh
  • From 4:00 pm to 5:00 pm: €0/MWh
  • From 5:00 pm to 6:00 pm: €0/MWh
  • From 6:00 pm to 7:00 pm: €0/MWh
  • From 7:00 pm to 8:00 pm: €35/MWh
  • From 8:00 pm to 9:00 pm: €56.18/MWh
  • From 9:00 pm to 10:00 pm: €67.44/MWh
  • From 10:00 pm to 11:00 pm: €62/MWh
  • From 11:00 pm to 12:00 pm: €50.01/MWh

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Written by

John Ensor

Originally from Doncaster, Yorkshire, John now lives in Galicia, Northern Spain with his wife Nina. He is passionate about news, music, cycling and animals.

Comments


    • Concha

      07 May 2024 • 23:34

      Utter disinformation – listen to Spanish state radio, or search on Google. You can never save with these pooled prices, they’re always averaged out, and you’ll always have to pay for the standing charges + other odds and ends. These articles are sheer nonsense.

    • Anne Hetherington

      08 May 2024 • 00:04

      Thank you For the update.

    Comments are closed.