Light at ridiculous prices! Sunday, February 1, 2026, says goodbye with historic lows

The megawatt hour plummets to €9.24, a respite for Spanish households after a heart-stopping 2022.

The Spanish electricity market says goodbye to January 2026 with news that relieves the pocketbook: the wholesale price of electricity, the barometer for customers with a regulated tariff (PVPC), has hit annual lows. After a 2022 that went down in history for its stratospheric peaks and a community energy policy in constant adjustment, this Sunday, February 1, marks a milestone of tranquility.

The average cost of a megawatt hour today stands at an irresistible €9.24. This figure, unthinkable just a year ago, is the direct result of the application of the “gas cap” mechanism, a measure that has proven effective in moderating daily prices. Today, in particular, offers a window of opportunity for the most forward-thinking consumers.

The most advantageous time slot to consume energy this Friday is between 1:00 p.m. and 2:00 p.m., when the price per kilowatt hour (kWh) reaches its lowest point, set at €0.0636/kWh. A real bargain for programming the most consumed appliances.

On the contrary, the peak hour, where demand skyrockets and prices skyrocket, is between 8:00 p.m. and 9:00 p.m., with a peak of €0.2081/kWh. The difference is abysmal, underlining the importance of adapting our consumption habits to the hours of lowest cost.

The average price of the day stands at €0.0924/kWh, a value that, although significantly lower than in previous periods, still shows the inherent volatility of the energy market. The difference between the lowest and highest price of the day is considerable, reaching almost €0.1445/kWh.

Here we present the detailed breakdown by hour so that you don't miss any savings opportunities:

00:00 – 01:00: €0.06364/kWh
01:00 – 02:00: €0.06450/kWh
02:00 – 03:00: €0.06680/kWh
03:00 – 04:00: €0.06796/kWh
04:00 – 05:00: €0.06897/kWh
05:00 – 06:00: €0.06973/kWh
06:00 – 07:00: €0.07063/kWh
07:00 – 08:00: €0.08611/kWh
08:00 – 09:00: €0.07947/kWh
09:00 – 10:00: €0.06988/kWh
10:00 – 11:00: €0.06488/kWh
11:00 – 12:00: €0.06457/kWh
12:00 – 13:00: €0.06361/kWh
13:00 – 14:00: €0.06363/kWh
14:00 – 15:00: €0.06610/kWh
15:00 – 16:00: €0.06610/kWh
16:00 – 17:00: €0.07350/kWh
17:00 – 18:00: €0.10244/kWh
18:00 – 19:00: €0.15125/kWh
19:00 – 20:00: €0.20319/kWh
20:00 – 21:00: €0.20810/kWh
21:00 – 22:00: €0.18998/kWh
22:00 – 23:00: €0.10123/kWh
23:00 – 24:00: €0.08805/kWh

The price escalation that has affected Europe in recent times has been influenced by various factors. Among them, the rise in the price of gas in international markets stands out, a key component in the generation of electricity through combined cycle plants, which often set the marginal market price. Added to this is the increased cost of carbon dioxide (CO2) emission rights, an additional cost that affects the final bill.

Frequently Asked Questions about the Price of Electricity

What is the average price of electricity today, February 1, 2026?: The average price of electricity today is €9.24/MWh, or what is the same, €0.0924/kWh.
When is electricity cheaper today?: The cheapest time to consume electricity today is between 1:00 p.m. and 2:00 p.m., with a price of €0.0636/kWh.
When is electricity most expensive today?: The highest price of electricity today is recorded between 8:00 p.m. and 9:00 p.m., reaching €0.2081/kWh.
What is PVPC?: The PVPC (Voluntary Price for Small Consumers) is the regulated electricity rate in Spain, whose price is updated every hour based on the wholesale market.
What has caused the drop in the price of electricity?: The drop in price is largely due to the application of the “gas cap” mechanism and the moderation of prices in international markets.
How can I save on my electricity bill?: You can save by consuming electricity during off-peak hours (when the price is lower) and optimizing the use of your appliances.
What factors affect the price of electricity?: The main factors are the price of gas, the cost of CO2 emission rights, the demand for electricity and the production of renewable energy.
What is the wholesale electricity market?: It is the market where electricity is bought and sold between producers and marketers, and its price is the one that sets the reference for the PVPC.
Are prices expected to continue falling?: The future evolution of prices will depend on multiple factors, including the geopolitical situation, energy policies and the production of renewable energy.
Where can I find more information about the price of electricity?: For detailed and up-to-date information, we invite you to join our community on Telegram: https://t.me/casino_gurus