On November 1, the cost of electricity in Spain continues to reflect a downward trend, following a notable decrease at the end of October. This reduction aligns with the observance of All Saints” Day. Data from the Iberian Energy Market Operator (OMIE) highlights the hourly variations in electricity prices, providing consumers with valuable insights into the most cost-effective times to use energy-intensive appliances.
Historically, the most expensive periods for electricity consumption fall during the late afternoon and evening hours. Specifically, there are three time slots where prices exceed 100 euros per megawatt hour. Consumers are advised to avoid using high-energy devices during these intervals to minimize costs.
Conversely, the best times to utilize electricity occur during five consecutive hours when prices remain below 20 euros per megawatt hour. This is particularly advantageous for consumers looking to save on energy expenses.
The detailed hourly pricing for November 1 is as follows:
- 00:00 to 01:00: 45.93 euros/MWh
- 01:00 to 02:00: 24.42 euros/MWh
- 02:00 to 03:00: 22.49 euros/MWh
- 03:00 to 04:00: 30 euros/MWh
- 04:00 to 05:00: 30.09 euros/MWh
- 05:00 to 06:00: 33.86 euros/MWh
- 06:00 to 07:00: 47.3 euros/MWh
- 07:00 to 08:00: 52 euros/MWh
- 08:00 to 09:00: 50.4 euros/MWh
- 09:00 to 10:00: 23.75 euros/MWh
- 10:00 to 11:00: 18.3 euros/MWh
- 11:00 to 12:00: 14.9 euros/MWh
- 13:00 to 14:00: 15.65 euros/MWh
- 14:00 to 15:00: 15.21 euros/MWh
- 15:00 to 16:00: 21.01 euros/MWh
- 16:00 to 17:00: 36.22 euros/MWh
- 17:00 to 18:00: 56.66 euros/MWh
- 18:00 to 19:00: 82.4 euros/MWh
- 19:00 to 20:00: 103.38 euros/MWh
- 21:00 to 22:00: 100.43 euros/MWh
- 22:00 to 23:00: 80.99 euros/MWh
- 23:00 to 24:00: 72.87 euros/MWh
October concluded with a significant drop in average electricity costs, marking the tenth month of the year. The highest price was recorded on November 1, while the lowest occurred earlier in October, on the 5th, where it dipped by 2.64 euros per megawatt hour.
