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Choosing the Best Electric Rate

All families want to save money per year on bills but often do not know how to do it; Comparing electricity tariffs becomes a recommended exercise if we are looking for a more economical service. One of the changes in the new light tariff is that it allows consumers to opt for different alternatives in terms of hiring their tariffs.

Spanish users do not yet know that they can switch to an ever-wider range of electricity companies, which is on the website of the national Commission on markets and competition, which also has a comparator.

But how do we know which model best fits our needs? Here is a guide to help you choose the most appropriate electric fare.

Not only do large companies exist

Large companies offer several options for flat rates or fixed charges, although more and more small energy companies, now more focused on businesses and industries, are launching more flexible or even cheaper tariffs.

In addition, large families, with all unemployed members, retirees with a minimum pension or a permanent disability or a widow, can apply for social security with a 25 percent discount.

Choose the power to hire

The choice of power we are going to contract will vary depending on the size of our house, the number of people living in the house, the devices or equipment connected to the network as well as their use …

Choose the Power Range

The power range is the one that marks the type of fares that we can choose. It is important to know if the contracted power we need is less than or greater than 10 KW. If the power is lower, the rates we should compare are 2.0 (with night rate or not). If the power is equal to or greater than 10 KW, the rates to be compared are 2.1 (with hourly or zero discrimination) or 3.0.

How is the power range calculated?

-If we do not have electric heating, elevator or installation requiring a lot of consumption, we can opt for a power of less than 10 KW.

-If we have electric heating or energy accumulators, in small or medium-sized houses, we can contract between 6 and 9 KW; For wholesale, between 10 and 14 KW and if we have a facility requiring a lot of consumption, we must have more than 15kW.

-For office buildings or industrial buildings, we will need a power range of more than 15 KW.

Check more here: https://electricityrates.com/getting-best-electricity-rate/

Electrical rates in the regulated market

Currently, the rate that replaces the former last resort rate (TUR) is called the voluntary price of the small consumer or DRWP. Depending on the conditions of each delivery point, a price or other mode will be applied:

  1. Annual Fixed rate: The trader and the customer shall define an applicable price for a period of 12 months. Ideal for customers who do not want to have surprises in the bill and do not want to depend on the oscillations of the market.
  2. Light rate per hour: The electric price varies and is different for each hour of the day, marked by the pool, which is the demand for light that is on the wholesale market. You have to have a digital meter.
  3. Light fare with weighted average price: users assigned to the regulated market who do not have a digital meter will be charged based on the weighted average price or PMP, which sets a price of the electric product of the average between the costs of light at each hour of the day during the billing period.

Electric prices in the free market

On the free market, users who accept with the company the price at which they subscribe to the energy. The energy offers offer excellent discounts in fixed terms and consumption. Which companies sell gas? Some are: EDP, Iberdrola, Endesa, Gas Natural Fenosa, Viesgo …

  1. Lump-sum rates: so that the customer always pays the same share of electricity without being subject to the market, for example the one offered by Gas Natural Fenosa.
  2. Indexed rates: Recommended for large companies and industries, with which they can get excellent savings. The cost of this rate may be equal to 0 at certain times, while in the same hours with fixed prices, a profit margin is paid to the seller.
  3. New rates to adapt consumer habits: energy companies are starting to offer new hourly rates that adapt to users ‘ schedules, so it is no longer the customer who has to adapt to the tariff. For example, plans adapted to Iberdrola, intended for customers who are familiar with their consumption habits and have a digital meter.

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