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These are the cheapest hours on Monday to save on the bill

The news improves as regards the rise in the price of electricity in recent times. The average price of electricity in the wholesale market will continue to fall this Monday, reaching for the first time since November 1 below 100 euros / MWh. Specifically, electricity will cost 96.08 euros / MWh this December 27, according to provisional data published by the Iberian Energy Market Operator (OMIE).

By time slots, the maximum price of electricity for this Monday will be between 6:00 p.m. and 7:00 p.m., with 207.1 euros / MWh, while the minimum will be only 2.67 euros / MWh between 2:00 and 7:00 p.m. 6 hours.

Peak and valley hours

  • The cheapest: from 3 to 4 to 0 , 03864 € / kWh
  • The most expensive: from 18 to 19 at 0.28977 € / kWh

Thus, the price of the 'pool' will be reduced this Monday by 49.04% with respect to the cost of electricity this Sunday

, of 188.53 euros / MWh. Compared to the maximum historical record (383.67 euros / MWh), four days ago, the price has fallen by 75%, after accumulating four consecutive days of decreases that coincide with several holidays in much of the world and that cause that the demand is much lower due to the lack of activity of companies and large consumers.

In any case, the cost of electricity in the wholesale market continues to skyrocket when compared to the records of the same day of previous year, when the price stood at 26.51 euros / MWh. The increase of this Monday compared to December 27, 2020 is 262.5%, that is, more than four times more expensive.

The price of electricity hour by hour

  • 00-01 0.09527 € / kWh
  • 01-02 0, 04023 € / kWh
  • 02-03 0.03977 € / kWh
  • 03-04 € 0.03864 / kWh
  • 04-05 € 0.03890 / kWh
  • 05 -06 € 0.03930 / kWh
  • 06-07 € 0.04443 / kWh
  • 07-08 0.14641 € / kWh
  • 08-09 0.18020 € / kWh
  • 09-10 € 0.21658 / kWh
  • 10-11 € 0.18025 / kWh
  • 11-12 0.17526 € / kWh
  • 12-13 0.17005 € / kWh
  • 13-14 € 0.16868 / kWh
  • 14-15 € 0.13243 / kWh
  • 15-16 € 0.15879 / kWh
  • 16-17 € 0.16982 / kWh
  • 17-18 0.27297 € / kWh
  • 18-19 0.28977 € / kWh
  • 19-20 0.27707 € / kWh
  • 20-21 0.24574 € / kWh
  • 21-22 € 0.20697 / kWh
  • 22-23 € 0.17160 / kWh
  • 23-00 0.16316 € / kWh

The reasons for the increase in the price of electricity

The rise in prices in the electricity market in recent months is mainly explained by high gas prices in the markets and carbon dioxide (CO2) emission rights, at record highs this year. Specifically, gas exceeds 110 euros per MWh and CO2 is above 80 euros per ton.

December is being a month marked by great volatility, with falls in the average of some days to around € 100 / MWh and with certain rises that widely exceed the level of € 200 / MWh. In fact, so far this month the average has already stood at € 216 / MWh, which, if it continues like this, would exceed the record of last October, which was the most expensive month in history.

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