# the cheapest and most expensive hours

The average price of electricity for regulated rate customers linked to the wholesale market falls by 4.41%, this Wednesday, May 31, to 88.45 euros per megawatt hour (MWh)according to provisional data from the Iberian Energy Market Operator (OMIE). The electricity tariff stands at an average price of 88.45 euros per megawatt hour (MWh).

In the auction, the average price of light in the wholesale market (pool) stands at 88.45 euros per megawatt hour. To this price must be added the compensation to the gas companies of 0.00 euros/MWh that consumers normally must pay.

Taking into account the difference in prices according to the time slots, the highest cost will be reached between 9:00 p.m. and 10:00 p.m., reaching 119.06 per megawatt hour (MWh). The cheapest hour will be recorded between 3:00 p.m. and 5:00 p.m., with 65,70 euros per megawatt hour.

## Electricity prices for Wednesday, May 31

### At what time is electricity cheaper?

Between 3:00 p.m. and 5:00 p.m. 65,70€/MWh.

### At what time is electricity more expensive?

Between 9:00 p.m. and 10:00 p.m. 119,06€/MWh.

### average price of the day

The average price of the day is 88,45€/MWh.

## How is the electricity rate calculated?

One of the questions that most arise among users is how the electricity rate is calculated. First of all, it is necessary to understand that the energy produced by all electricity generating sources is auctioned every day in the electricity pool, a place where companies sell the energy they produce at a price determined according to supply and demand. This pool is used to establish the price of electricity for each hour of each day and the price resulting from each auction is the daily price per kWh.

## Why does the price of electricity vary so much?

Variations in the price of electricity depend on various factors such as the increase or decrease in demandthe increase or decrease in the price of gas or the increase or decrease in the price of CO2 emissions.

Source: Vozpópuli by www.vozpopuli.com.

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