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    Electricity prices: these are the most expensive and cheapest hours on Monday, June 27th.


    June 27, 2022 - CE Noticias Financieras

     

      The price of electricity seems to have no brake and continues to rise, causing the electricity bill at the end of the month to skyrocket. Therefore, the so-called "Iberian exception" that came into force on June 15 to put a cap on the price of gas and thus achieve a significant reduction in the cost of light seems to have had no effect. In this sense, the average price of the "pool" has been located on Monday at 143.27 euros per megawatt hour (MWh) without taking into account the adjustments, according to provisional data published by the Iberian Energy Market Operator (OMIE), which is why all that glitters is not gold, since this fall in the price of the "pool" will not be transferred in full to the consumer, but must be added to this compensation to energy. In this sense, the adjustments to be paid by consumers for gas plants on the first day of the entry into force of the "Iberian exception" were 59.3 euros MWh on average, raising the final price from 165.59 euros MWh to 225 euros MWh. The case of this Monday will be no different, but these adjustments mean 45.51 euros MWh on average, which will raise the final price to 188.78 euros MWh, an increase of 11.7% compared to this Sunday.Also, in addition to this, although it may seem a significant drop in the cost of electricity, it is not, since it falls in the cheapest bands or valley stretch, while the most expensive hours are extended maintaining a high price, so consumers have fewer off-peak hours to make use of energy expenditure.Meanwhile, the Government adopted last Wednesday another measure to tackle the rise in electricity and its impact on the electricity bill. In this sense, Sánchez announced that he will incorporate into the decree of "anti-crisis" measures a reduction of VAT on electricity from 10% to 5%.Therefore, regardless of the tactics to alleviate the cost of electricity, the escalation of prices in the electricity bill is a reality that has been affecting thousands of citizens since 2021. So much so, that the levels continue to mark very high records compared to last year, given that this Friday the price will be 118% more expensive compared to the 86 euros/MWh of June 27, 2021. In view of this situation, more and more people are trying to look for economic alternatives or new methods to save money on their electricity bill at the end of the month.According to the data provided by OMIE, these will be the most expensive and cheapest hours:The electricity bill is calculated using two prices, the one paid for the contracted power and the price resulting from the kilowatts consumed during the month.The tariff created by the Spanish Government in July last year generated a certain lack of control for the population in general, since by establishing a series of brackets, those people who do not have an agreed tariff with their distributor, suffered and still suffer today notable changes in the price depending on the time of the day. In this sense, the high electricity prices have a direct impact on the almost 11 million users in Spain who are covered by the regulated tariff, i.e., the so-called PVPC, and also serve as a reference for the other 17 million who contract their supply in the free market.

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