By John Ensor • Updated: 24 Mar 2024 • 10:57
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.
Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our Privacy Policy for more information about our privacy practices.
Originally from Doncaster, Yorkshire, John now lives in Galicia, Northern Spain with his wife Nina. He is passionate about news, music, cycling and animals.
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.
Download our media pack in either English or Spanish.