Price of electricity today, Monday May 8, 2023: what is the cheapest time to save on the bill?

Consumers will have to be vigilant this Monday, May 8. There will be times when putting the washing machine, ironing or using the oven will be more advisable. Knowing which are the cheapest allows you to concentrate spending and save on the bill at the end of the month. The average reference for the whole day in the wholesale market will be 97.51 euros per megawatt hour (MWh), according to the operator OMIE. Again, hour by hour there will be big differences.

The wholesale market figures are reflected in the consumer’s receipt. The most expensive hour will be reached between 9:00 p.m. and 10:00 p.m., when the price on the bill will rise to 0.23858 euros per kilowatt hour (kWh), based on data from Red Eléctrica. The cheapest hour, on the opposite side, will be recorded between 04:00 and 05:00, when the kilowatt hour will be paid at 0.13266 euros.

€0.15036/kWh

06h

€0.15895/kWh

€0.17964/kWh

9am

€0.16341/kWh

€0.19018/kWh

12 noon

€0.18882/kWh

€0.14104/kWh

3:00 p.m.

€0.14281/kWh

€0.14736/kWh

6pm

€0.19360/kWh

€0.23272/kWh

9pm

€0.23858/kWh

€0.19130/kWh

How to save on the electricity bill at home

To reduce consumption and lower the electricity bill, you can follow these tips:

Home appliances

1. Disconnect electrical appliances, especially the fridge-freezer that consumes up to 30% of the total consumption in the home when we are absent for a vacation period; avoiding leaving them on ‘stand by’
2. Use the dryer as little as possible. Failing that, try to take advantage of the sunny hours to dry your clothes.

Hot water

1. Use hot water in general with a water temperature between 30ºC and 35ºC
2. Using washing programs in the washing machine with cold water

Lightning

1. Use bulbs with LED technology, which have ten times less power than incandescent bulbs and have a useful life ten times longer, saving up to 85% of energy
2. Make the most of natural light in the home

Renewable self-consumption

Participate in renewable energy projects, through energy communities that offer citizen participation