Price of electricity by hour, June 23 | When is kWh cheaper and when is it more expensive?

Price of electricity by hour, June 23 | When is kWh cheaper and when is it more expensive?
Price of electricity by hour, June 23 | When is kWh cheaper and when is it more expensive?

The Iberian exception, the measure that allowed Spain and Portugal to set a limit on the price of gas used to produce electricity, It ceased to be in force with the end of the year 2023. This measure began to be applied after the war in Ukraine – which began in February 2022 – increased the energy crisis in which our country found itself.

He average price of electricity for regulated tariff customers linked to the wholesale market closed 2023 at 87.1 euros per megawatt hour (MWh), which means a reduction of more than half (-58%) compared to the figure for 2022, when the energy crisis of the Ukrainian war took the price to a historic 209 euros. Furthermore, this data It would have been 23% higher if it had not been for the ‘Iberian mechanism’.

For all of 2024, this VAT on electricity is expected to be 10%although the Government introduced a exceptionwhich is that if in a month the average price of electricity is below 45 euros/megawatt hour (MWh), in the next month for this to occur, VAT of 21% will be appliedreturning to 10%, if the price once again exceeds those 45 euros/MWh.

This way, VAT on the price of electricity rose from 10% to 21% in March, behind the decline in February of the price of the megawatt hour (MWh) below 45 euros. This situation it continues to be maintained.

When will electricity be cheaper on Sunday, June 23?

According to the data offered by the Spanish Electricity Network website, the cheapest section of electricity on Sunday, June 23, will be at 11:00 a.m.. The price per kilowatt hour will be 0.04138 euros in the Peninsula, Balearic Islands, Canary Islands, Ceuta and Melilla.

When will electricity be most expensive on Sunday, June 23?

On the other hand, electricity will be more expensive throughout the Peninsula, Balearic Islands, Canary Islands, Ceuta and Melilla at 10:00 p.m. on Sunday, June 23, with a price per kilowatt hour of 0.14270 euros.

How is the electricity rate calculated?

The electricity bill is calculated by two prices, the one paid for the contracted power and the price resulting from the kilowatts consumed during the month.

Besides, It also depends on the type of invoice contracted., which differentiates three types of sections depending on the schedule, which are peak hour (section in which the price of electricity is more expensive), flat hour (with a lower cost than in the most expensive section) and off-peak hour (section with a cheaper electricity price). This invoice model was implemented starting in June.

Regarding the choice of rate, Users can choose two optionseither the rate offered by your marketing company, or take advantage of the regulated market with the Voluntary Price for Small Consumers (PVPC).

 
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