Price of electricity: these will be the cheapest and most expensive hours on Wednesday, January 5

The price of electricity is one of the biggest problems for Spaniards. Since last summer, electricity has suffered an exponential price increase thanks to a global supply crisis caused by different factors, including gas. After several days with price records, Spain faces one of the weeks with the worst omen in recent years.

The price of electricity in Spain has registered different records in the last year. At the end of December in our country the barrier of 300 euros was overcome for the first time, a negative fact that highlighted the uncontrolled increase and that has maintained the upward trend.

The new tariff created by the Government of Spain last July created a series of sections in which electricity became cheaper or more expensive depending on demand.

The so-called “valley” sections are those hours where installing a washing machine or dishwasher is more economical. On the other hand, the "rush" hours increase the price of electricity considerably if compared to the previous section.

This caused a certain lack of control for the population in general. Those who do not have an agreed rate with their distributor suffer price changes depending on the time of day.

In addition, electricity prices also change on weekends. Thus, the price of electricity also changes on these two days, forcing citizens who want to save on their rates to have different habits.

The most expensive and cheapest hours

Today, Wednesday, January 5, the price of electricity will continue with the stability of the last few days. After several weeks with very significant increases, the rate has given a little respite, although not by much, to households in Spain.

The cheapest hour: it will be from 3:00 to 4:00 with a cost of €0.115/kWh

The most expensive hour: it will take place between 7:00 p.m. and 8:00 p.m. at a cost of €0.409/kWh

Hourly electricity price

Below you can check the hourly electricity price in Spain on Wednesday, January 5:

Increase in the price of electricity

There are different factors that have marked the increase in the price of electricity in recent months. The prices of the so-called "pool" that directly affect the regulated tariff or PVPC are those to which around 11 million Spaniards are connected. This serves as a reference for the rest of the approximately 17 million users in Spain who use the free market.

Thus, since last summer there has been an increase in prices that can be explained by the high gas prices around the world. The markets and the carbon dioxide emission rights that are at annual maximums set the price of electricity.

Although households are mainly thought of, this increase is also being suffered to a large extent by shops and factories. The increase has caused an exponential rise in their receipts, which could very possibly make the products more expensive in the future.