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On which day of the week is electricity the cheapest?

Electricity prices are determined by many factors, such as the market you purchase from (free or regulated) and the day of the week. Here is an explanation of why they fluctuate and how you can get free electricity on one day of the week. 

Each kilowatt-hour of electricity (kWh) you consume is multiplied by its price and is charged as the variable part (the energy element) of your electricity bill. This expense accounts for approximately half of what you pay. The other half is your contracted power or the fixed part of your bill. For detailed information about this see this article about the power your home needs

So, to know how much you are paying for your electricity, you need to know the price per kWh, because that is what you are buying. 

How much does electricity cost in Spain?

Before answering this question, the first factor to remember is that there are two different markets in Spain:

  • In the free market, the price of a kWh is the price you have agreed to in your contract. There are numerous retailers that offer different rates to suit different circumstances
  • In the regulated market, the price is determined by supply and demand. There is a bidding system that gives a different price for each hour of each day, which cannot be predicted more than a few hours ahead of time (you know on the day before what it will cost on the following day).

On what day of the week is electricity cheaper?

Historically, according to the regulated market price system, Saturday and Sunday are the days when a kWh usually has a lower price.

However, in the free market it is all up to you. With the Tempo Happy Day Rate, you choose a day of the week that will be the cheapest, because you pay zero kWh for everything you consume on that day:

Why causes electricity prices to fluctuate?

Broadly speaking, the price of energy depends on major factors such as the weather (the more extreme the weather, the more power we use ... and the price goes up) and geopolitics (the price of certain raw materials like oil has an enormous impact).

To be specific, in the regulated market (PVPC tariff) prices fluctuate every day depending on the demand for energy. At peak demand times, the price goes up. When demand is lower, it goes down again.

In the free market, however, everything depends on the conditions of your electricity supply contact. Some rates give you the same price per kWh around the clock, every day of the week. Others give you the option to choose times of day or entire days when you will pay a lower price (or even free power, like Tempo Happy).  

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Does power from all sources cost the same?

Well, the answer is no but yes.

No, because some energy is cheaper to produce, namely power from renewable energy sources like solar, wind, hydroelectric and nuclear power. Thermal (coal), cogeneration and combined cycle (main fuel = natural gas) production methods tend to be more costly.

And yes, because at the end of the day, the energy you consume is a mix of all those sources. If you are in the regulated market, the price per kWh you pay is the result of the price of the entire mix, such as renewables that generate a lot when it rains or the wind blows or it is sunny… but whose input tails off when this does not happen, and combined cycles that can be turned on or off depending on the need ... 

One way of navigating all the variables is to choose a rate that guarantees you a price per kWh around the clock, while also allowing you to choose two hours of free electricity a day, or even a whole day with Tempo Happy Day.

To summarise: take control of your energy, understand your bill properly, and decide when you would like to benefit from cheap rate electricity. It’s up to you.  

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