Soaring kWh price, what are the most economical hours?

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Soaring kWh price, what are the most economical hours?

Soaring kWh price, what are the most economical hours?


Energy Rates Consumption Saving Bills 1


Are you interested in knowing at what times of the day electricity is cheaper? In this article we will clarify your doubts so that you can use your appliances efficiently.

The price of electricity shoots up again

After the end of 2021 as the most expensive year in the history of the price of electricity, during the month of January we had a break. Although the average market price reported an increase of more than 235% compared to January 2020, if we compare it with the end of December we had a drop of 15.7%.

However, the tension that exists on the continent due to the conflict between Russia and Ukraine has shaken the markets in recent weeks. On the other hand, the increase in the price of gas has had a direct impact on the price of electricity.

According to a report published in Companias de luz, currently the price per kWh averages €0.142705/kWh for the general rate and €0.126885/kWh for rates with hourly discrimination.

These values ​​are distributed throughout the day, ranging from €0.08443/kWh in the lowest hours to €0.16934/kWh in the hours of greatest energy consumption.

How does the price of electricity behave according to the hours?

The price per kWh depends directly on the type of rate you choose between those available in the free or regulated market. The price of the kWh of the regulated market is different every day and is determined by hours.

On the other hand, in rates with hourly discrimination, the day is divided into two or three periods of time. If the rate is for three periods, the price per kWh remains stable throughout the year, but if it is for 2, the costs vary depending on the time of year.

In the same report, we can see how the kWh prices vary every hour, allowing us to do a little analysis to determine which are the cheapest hours during the day.

Costs in the general rate

  • For the general tariff, the most expensive hours of the day are between 8:00 p.m. and 10:00 p.m., with the period 9:00 p.m. – 10:00 p.m. being the most expensive time of the day (€0.15017/kWh).
  • On the other hand, the hours between 4:00 and 6:00 are the cheapest, with 4:00 – 5:00 being the cheapest.

Costs in the rate with hourly discrimination

  • For this rate, the peak hours of the kWh price are between 8:00 p.m. and 11:00 p.m., with the period 9:00 p.m. – 10:00 p.m. being the most expensive (0.16934 €/kWh).
  • Regarding the cheapest hours in this rate, those between 4:00 and 6:00 in the morning are the cheapest, especially the time between 4:00 and 5:00, which is the one with the lowest price during the day (0.08443 €/kWh).

What does the price per kWh depend on?

The price of kWh depends on several factors that you must take into account when contracting your electricity service, these are:

  • The market in which you decide to contract your service: either in the free market or in the regulated market.
  • The type of rate you choose: there are different options such as rates with fixed prices, with hourly discrimination, hourly rates, etc.
  • The energy consumption you use: obviously, the more kWh you use, the higher the variable cost of your bills.

Depending on your needs, you can choose the service that best suits you among all those offered by the different providers in the country.

Written by:

www.companias-de-luz.com


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