The average cost of electricity in Spain has seen a decrease for the fourth consecutive day as November begins. According to the Iberian Electricity Market Operator (OMIE), the average price has dropped by 5.56 euros compared to the previous day.
As consumers prepare for November 2, it is crucial to identify the hours when electricity is at its most expensive and least expensive. The day features several peak times that should be avoided, particularly during the late afternoon and evening when demand surges.
The highest electricity prices occur during the evening hours, peaking at 110.62 euros per megawatt-hour (MWh) from 8 PM to 9 PM. This spike is followed closely by another high of 103.24 euros per MWh from 10 PM to 11 PM.
Conversely, there are periods throughout the day when electricity prices are significantly lower, including some times where the cost is effectively zero, offering a chance for consumers to save on their energy bills.
Here are the hourly electricity prices for November 2:
- 12:00 AM to 1:00 AM: 74.44 euros/MWh
- 1:00 AM to 2:00 AM: 53.89 euros/MWh
- 2:00 AM to 3:00 AM: 31.27 euros/MWh
- 3:00 AM to 4:00 AM: 16.71 euros/MWh
- 4:00 AM to 5:00 AM: 16.79 euros/MWh
- 5:00 AM to 6:00 AM: 17.79 euros/MWh
- 6:00 AM to 7:00 AM: 29.99 euros/MWh
- 7:00 AM to 8:00 AM: 37.25 euros/MWh
- 8:00 AM to 9:00 AM: 23.84 euros/MWh
- 9:00 AM to 10:00 AM: 7.69 euros/MWh
- 10:00 AM to 11:00 AM: 0.17 euros/MWh
- 4:00 PM to 5:00 PM: 5.13 euros/MWh
- 5:00 PM to 6:00 PM: 38.62 euros/MWh
- 6:00 PM to 7:00 PM: 80.49 euros/MWh
- 7:00 PM to 8:00 PM: 103.20 euros/MWh
- 8:00 PM to 9:00 PM: 110.62 euros/MWh
- 10:00 PM to 11:00 PM: 103.24 euros/MWh
- 11:00 PM to 12:00 AM: 97.63 euros/MWh
In summary, while the average electricity prices remain stable overall for November 2, consumers are encouraged to be mindful of the high-cost periods to optimize their energy usage.
