Find out with us and considerably reduce your electricity bill
It is no secret that electricity carries a significant economic cost. Therefore, knowing when electricity is cheapest is an excellent way to save money.
It is important to know that since the liberalisation of the electricity market, electricity prices have ceased to be standard and different rates exist depending on the supplier contracted, the date and the time.
In order to provide you with specialised and accurate information, we consulted experts in the electricity sector, such as companias-de-luz.com, who used their experience and knowledge to help us put together the information below.
Electricity market guidelines
In order to understand when electricity is cheapest, it is first necessary to understand how the electricity market in Spain works. The market is divided into two main sectors.
The Spanish government regulates tariffs by means of specific commercial agencies. This process is known as the Precio Voluntario al Pequeño Consumidor (Voluntary Price for the Small Consumer), also known as PVPC.
In this case prices fluctuate hourly and change from day to day. Currently, a specific web page allows users of this market to see the cost of electricity whenever they want.
The free market has a wide variety of suppliers that offer their electricity services to users. The criteria, limitations and conditions are not related to those established by the government; they are set by each company.
Cheapest electricity cost by market
With this information, and taking into account the differences between the markets, we can start to look at when electricity is cheaper in each.
The cheapest electricity on the regulated market
It should be clear that, in order for a person to contract electricity on the regulated market, certain parameters must be followed. One such stipulation is that the location where the service will be used must have a power of at least 10 kW.
A digital meter is also required to be installed to measure electricity consumption.
The times when electricity is cheapest can be found on the government website. Although the data vary, analysis of the reports shows that the most favourable time to use electricity is at night.
The cheapest electricity on the free market
Free market suppliers offer 2 types of tariffs. Each works in its own way and the cost of electricity is, therefore, cheaper at different times.
These rates are characterised by dividing the day into day and night and offering a lower price during the night and a higher price during the day.
Likewise, days are also divided into periods: off-peak, super off-peak and peak hours. You can, therefore, save more money on electricity if consumption is higher at night.
With fixed rates there are no cheaper periods. As the name suggests, these are services where the same amount is paid throughout the whole year, regardless of consumption, time or season.
Take advantage of the opportunities
If you want to reduce your electricity bill, then don't ignore this information. You can also visit the website companias-de-luz.com, where you will find more information related to this topic.