The blackout that collapsed the people of Madrid last Monday has resulted in a 450% increase in the price of electricity today, Wednesday, April 30. The cost per megawatt hour will go from 5.79 to 31.87 euros in less than twenty-four hours.
The need to stabilize the electricity system and recover the strong demand for electricity has caused the striking price increase, as well as some instability in the electricity market.
The Naturgy group has published on its website a list of the cost of electricity by hours, indicating the time slots in which consumption is cheapest (although, of course, the price varies slightly according to each supplier). Those who consult it will be able to concentrate electricity consumption in the best hours and save a little on their next bill.
The best and worst hours to consume electricity
According to Naturgy, the best time to concentrate the electricity consumption of the day is in the afternoon: from 14:00 to 17:00 hours, with the lowest price being at noon, specifically from 14:00 to 15:00 hours, when electricity reaches its lowest cost. The worst period is from 18:00 to 23:00 hours. Between 21:00 and 22:00 hours a peak of 0.25810€/kWh is estimated, the highest figure of the day.
Tips to save more on your electricity bill
The Institute for Energy Diversification and Saving (IDAE) recommends the population to completely turn off electronic devices that are not being used at home, since stand-by consumption can account for between 7% and 11% of annual electricity consumption.
On the other hand, Endesa recommends the efficient use of household appliances. For example: regulate the temperature of the refrigerator if necessary (it is the appliance that consumes the most electricity), or cook with an induction hob instead of a glass-ceramic one.