On Thursday, May 1, 2025, the average price of electricity in Spain is set at 13.29 euros per megawatt hour (MWh), marking a significant decline of 58.26% from the previous day. This drop follows a tumultuous period for energy prices, particularly after a blackout on April 28 that severely impacted the electricity supply across the Iberian Peninsula.
Today's electricity prices vary greatly throughout the day, offering consumers the opportunity to save by using appliances during cheaper hours. The cheapest time to use electricity today is between 3:00 PM and 4:00 PM, with a remarkable cost of -10 euros/MWh, meaning consumers could theoretically earn money by consuming electricity during this period. Conversely, the most expensive hour is between 9:00 PM and 10:00 PM, when the price spikes to 55 euros/MWh, a stark contrast to the earlier savings.
To help consumers navigate these fluctuations, it is essential to understand the hourly pricing. The electricity price from midnight to 1:00 AM starts at 29.20 euros/MWh and gradually changes as the day progresses. Here’s a breakdown of the prices hour by hour:
- 00:00 - 01:00: 29.20 €/MWh
- 01:00 - 02:00: 22.66 €/MWh
- 02:00 - 03:00: 22.59 €/MWh
- 03:00 - 04:00: 23.22 €/MWh
- 04:00 - 05:00: 22.59 €/MWh
- 05:00 - 06:00: 27.20 €/MWh
- 06:00 - 07:00: 28.16 €/MWh
- 07:00 - 08:00: 23.02 €/MWh
- 08:00 - 09:00: 18.39 €/MWh
- 09:00 - 10:00: 0.00 €/MWh
- 10:00 - 11:00: -3.00 €/MWh
- 11:00 - 12:00: -6.00 €/MWh
- 12:00 - 13:00: -7.02 €/MWh
- 13:00 - 14:00: -7.81 €/MWh
- 14:00 - 15:00: -7.81 €/MWh
- 15:00 - 16:00: -10.00 €/MWh
- 16:00 - 17:00: -5.17 €/MWh
- 17:00 - 18:00: -4.00 €/MWh
- 18:00 - 19:00: -1.54 €/MWh
- 19:00 - 20:00: 0.00 €/MWh
- 20:00 - 21:00: 30.00 €/MWh
- 21:00 - 22:00: 55.00 €/MWh
- 22:00 - 23:00: 35.50 €/MWh
- 23:00 - 24:00: 33.87 €/MWh
This price variability allows consumers to plan their energy usage more effectively, particularly for high-consumption appliances such as washing machines and dishwashers. The best time to run these appliances today is during the cheapest hour from 3:00 PM to 4:00 PM, when the price drops to -10 euros/MWh.
Despite the negative pricing, it’s important to note that electricity is not free. Consumers will still incur fixed costs associated with their energy bills, including network charges and system adjustments. These fixed costs mean that even during periods of negative pricing, users will not see zero charges on their bills.
In recent months, energy prices have fluctuated significantly, heavily influenced by the cost of natural gas and overall demand. The price of gas has been climbing in international markets, which directly affects the cost of electricity generation. When demand surges during peak hours, such as mornings and evenings, the price of electricity can increase as operators are forced to rely on more expensive generation methods.
Historically, around this time last year, electricity prices were slightly lower, averaging 12.53 euros/MWh. The current price drop is a welcome relief for consumers who have faced soaring costs in recent weeks. For context, just days ago, prices peaked at over 100 euros/MWh due to supply constraints and heightened demand.
As the government continues to navigate the complexities of energy pricing and its impact on consumers, it is essential for households to stay informed about the best times to use electricity. By doing so, they can take advantage of lower rates and potentially save on their monthly bills.
In conclusion, the electricity price for May 1, 2025, showcases a dramatic decline that offers consumers a chance to save significantly. However, awareness of hourly pricing is crucial for maximizing savings and managing household energy costs effectively.
