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Cutting down the electricity bill is a priority for many Spanish households, especially if you're on an indexed tariff with time-of-use pricing. These tariffs, like the regulated PVPC rate, charge different amounts for electricity depending on the time of day, based on what's happening in the wholesale energy market.

 

Because the price changes every hour, it really pays to think about when you're switching things on.

 

For a few months the differences between cheap and expensive times weren't all that clear, but winter and higher consumption have changed things. Data from Red Eléctrica Española shows that the early morning hours from midnight to 7am are back to being the cheapest time to use electricity.

 

During these hours, you're paying less than 10 cents per kWh. The middle tier costs between 10 and 15 cents per kWh, and the most expensive bracket is anything over 15 cents per kWh.

 

The mid-range times are 7am to 8am, 1pm to 2pm and 5pm to 6pm.

 

On the flip side, the priciest slots are 8am to 1pm and 6pm to 10pm. After 11pm, costs drop right down again.

 

So where can you actually save a few euros?

 

The big savings come from running your power-hungry appliances during the cheap hours. Washing machines and dishwashers are the obvious ones since most can be set to run overnight while you're asleep (as long as the noise doesn't keep you awake).

 

A quick look at the numbers shows that running your washing machine or dishwasher in the early hours can cost three to four times less than doing it between 7pm and 10pm. Even compared to another fairly cheap time like 3pm, nighttime usually works out better during the week. The price gaps are smaller at weekends.

 

Over a month, the savings can really add up. Obviously it depends on things like how old your appliances are and which settings you use, but if you get into the habit of running them during off-peak hours, you'll easily save a few quid each month.

 

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