Electricity prices on the stock exchange fluctuate throughout the day, with some hours feeling almost free while others are more expensive. The most expensive rates occur on Saturday evening between 10-11 p.m. However, for most of the day on Saturday, the price of exchange electricity is either zero or even negative. The price of electricity starts at a negative value until seven in the evening, then goes to zero for three hours before increasing to 0.19 cents per kilowatt hour at ten p.m. The price then drops back down to zero at eleven p.m.
The lowest price of -0.24 cents per kilowatt hour is observed in the afternoon from three to four o’clock. Consumers should be aware that in addition to the electricity price, they will also have to pay for electricity transmission, meaning that electricity is not completely free. Electricity contracts typically include a basic monthly payment as well. The negative electricity prices are a result of there being more electricity production than demand, and producers have to pay to supply excess electricity to the grid.
Understanding these fluctuations can help consumers make informed decisions about their energy consumption and costs. By being aware of peak pricing times and taking advantage of lower price periods, consumers can potentially save money on their electricity bills. Electricity contracts typically include a basic monthly payment as well as additional fees for transmission and distribution costs.
In conclusion, it’s important for consumers to be aware of how their energy consumption affects their overall costs, including both electricity prices and associated transmission and distribution fees. By understanding these factors and making informed decisions about their energy usage, consumers can potentially save money on their bills while ensuring they receive reliable electrical service throughout the day.
A graphic below provides a detailed breakdown of how exchange electricity costs fluctuate each hour on a typical Saturday:
[Insert graphic here]
Overall, while electric
