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Electricity in Spain was practically free for much of Easter Saturday, with prices in the wholesale market crashing to just €1.72 per megawatt hour (MWh) on April 19 - the lowest seen in a year. The last time prices dipped this low was April 16 of 2024, when the cost hit €1.37/MWh, according to figures from the Iberian Energy Market Operator (OMIE).

 

The highlight for consumers was an incredible 11-hour stretch, from 9am to 8pm, where power prices sat at zero, or even dipped into negative territory. That meant households and businesses could keep the lights on, run appliances or charge electric vehicles for free or even get paid (theoretically) to consume energy during that window.

 

Saturday’s dip followed another bargain day on Good Friday, when electricity cost a modest €12.35/MWh. And while the average price for April so far stands at €24.90/MWh, which is higher than last April’s ultra-low €5.87, it’s still a big drop from the kind of highs seen earlier this year, like the €111.73 recorded on March 13.

 

But unfortunately, the Easter electricity low, low prices were short-lived.

 

From Monday April 21, prices are set to leap once more. OMIE predicts the average rate will rise to €49.09/MWh – that’s a whopping 35% jump from Sunday’s already increased €10.71/MWh. That’s also a sharp contrast to this time last year, when the price was just €2.17/MWh. The hike will hit especially hard for consumers with regulated tariffs or indexed free-market plans.

 

The cheapest time to use electricity on Monday will be between 2pm and 3pm, when the rate drops to €6.56/MWh. The hour before that, from 1pm to 2pm, won’t be far behind at €8.12/MWh.

 

But by the evening, prices will soar, peaking between 9pm and 10pm at a hefty €160/MWh. If you can, avoid high-energy appliances during the 8pm–10pm window, when rates will be at their priciest.

 

The recent rollercoaster in prices highlights just how unpredictable Spain’s electricity market can be. With rates fluctuating not only day to day, but hour to hour, experts say it’s more important than ever to monitor prices and adjust usage accordingly.

 

And for those tired of unpredictable bills and rising costs, now is the ideal moment to explore better deals. Many residents in Spain are still overpaying for electricity simply because they haven’t compared providers.

 

That’s where Spanish Energy steps in. With their free energy bill comparison service, they’re helping people across Spain cut down on their monthly electricity costs.

 

To find out how much you could save, get in touch via WhatsApp at +34 644 462 145 or visit www.spanishenergy.es.

 

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