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Endesa - Electricity, Gas, People

How much does electricity cost?

Published on April 17, 2019

Everyone knows how much they are paying on their bill, but who knows how much electricity costs? Electricity has a price that you can find out, just like it is possible to know the value of a gram of gold or silver. However, it all depends on the tariff that you've subscribed to.

Electricity powers your home and makes everything function each time you press a button. As a result, a bill arrives each month. Before paying it, we want you to have a good understanding of it.

Pay for your consumption and for your power

Your bill is divided into two large sections:

  • 1. Power: it is what allows several home appliances to function at the same time. Therefore, the more you need to turn on at the same time, the more power you’ll have to subscribe to. Power is measured in kW and you have to pay for it even if everything remains turned off. It has nothing to do with your consumption, and so you’ll have to pay the same in a month where you used the oven a lot and a month where you were on holiday and did not spend a single day at home. It is a “fixed term” that is repeated on your bill and does not change (unless you decide to change the power you subscribe to).
  • 2. Consumption: if the power is a “fixed term” that slightly resembles a flat fee for being connected to a grid (in this case, the electrical grid), consumption is a “variable term” that you have great control over. Unlike power, your behaviour has an immediate effect on consumption. The less you use electricity, the lower your consumption is and you’ll pay less on your bill. It is measured in kWh. .

For power, your decision has a big and long-lasting effect on your bill. The less power, the lower the cost...but be careful, because if you leave yourself short, your everyday life could get complicated (for example: “you’ll blow a fuse” if you try to turn on the washing machine and oven at the same time.

For consumption, your behaviour has a moderate effect and that only goes as far as you are persistent in your efficiency measures. It is here where many measures are important as well as energy savings advice.

To save on your power, you have to pay attention when making the decision to subscribe to more or less. To save on your consumption, you must adopt sustainable habits.

How much your consumption and your power cost

As we mentioned earlier, power is measured in kW and consumption in KWh. Both kW and kWh are purchased and sold at certain prices. To calculate your bill, it is as simple as multiplying the number of kW of your power contracted (or the number of kWh that you've consumed that month) by their price.

When attempting to find out the price, there is an essential difference. In Spain, there are two large markets for energy:

  • Open market: functions more or less like other open markets, for example, cell phone rates. There are many companies to choose from and each one of them has many tariffs. You get information about the one that is most appealing and you subscribe to it. You’ll pay what is on your contract, both for the kW of power and for the kWh of consumption. There are big differences between tariffs and companies. When you get tired of it, you can easily change electricity companies (or the tariff).
  • Regulated market: this market is regulated by the Government, and so there are only 5 companies that can provide service and all of them offer the same tariff: PVPC, in their modes with and without hourly differentiation. LThe prices of the PVPC tariff are set through a complex system. Each hour of each day has a different price, and so it is complicated to exactly predict how much you're going to pay for the electricity that you’ll consume the following week, for example.

If you're lost now, get one of your recent bills and check out its content to know which electricity market you're in.

If you're in the open market, you’ll pay what is on your contract. If you're in the regulated market, your prices change every hour.

So, how much does electricity cost?

The answer to this question is often none other than: it depends.

If you see it from your personal point of view, that is, how much electricity is costing you, it all depends on your rate:

If you see it from a general point of view, that is, how much electricity costs, the answer is highly complex. Electricity is generated in several plants and the companies that own those plants are those that sell energy to the supplier companies. One of these suppliers is the one that sends you the bills and with which you have a contract.

In general, if we take large periods of time (at least for several months), the electricity prices can go up or down due to factors, such as the following:

  • The climate: extreme conditions increase the national consumption of energy, whether due to to excessive cold (many heaters get turned on), or due to excessive heat (many air conditioners get turned on). The stronger these extremes are, the more consumption goes up, and the more energy that must be produced. According to the law of supply and demand, the greater quantity of energy we need, the more complicated it will be supply it, and therefore, the prices are more expensive. In addition, there are conditions that can leave hydraulic plants out of commission (they generate little if it barely rains), as well as wind farms (they generate little if winds are not strong).
  • International geopolitics: on the other hand, other plants need fuel to function. Specifically, petroleum and/or gas. Spain imports practically all of these two raw materials, and so international political and economic circumstances can influence their price. If the price of the raw material goes up, the price of electricity that is generated goes up thanks to those circumstances.

In general, the climate and possible economic and political crises influence the price of electricity. At the individual level, what matters is the tariff that you choose.

How to pay less for electricity?

Forget about geopolitics, because it is out of your control. Let’s focus on what you can control:

  • 1. Choose the power that you really need.
  • 2. Optimise your consumption: don’t waste electricity.
  • 3. Chose the tariff that suits you best.

As we’ve said, the tariff is the key. What you will pay depends on it. The good news is that for a time, there are abundant revolutionary tariffs that change the way of thinking.

For example: by paying less when you consume the most. Or even, paying 0 euros when you consume the most. Is this possible?

With the Tempo Happy Tariff from Endesa, you can choose some hours each month in which the kWh (remember: this is your electricity consumption) will be billed at 0 euros. How many hours? What hours? That exclusively depends on you. You have 3 modes to choose from:

  • 1. Two consecutive hours per day, everyday: for example, if you are only concentrating on your consumption when you come home from work (when making supper, starting the washing machine, watching television), it makes sense that those two hours (for example, from 8-10pm) are free.
  • 2. One day per week: for example, if on Sundays, you organise an intense cleaning and cooking session (oven, vacuum, several washing machines, etc.), a happy day of 0 euros for all those kWh makes sense.
  • 3. The 50 hours of greatest consumption: if you don't want to complicate your life or you don't follow any consumption pattern, you can decide that the 50 hours in which you consume the most kWh...are free.