Electricity rates
Find the rate that suits you best
Choosing the most suitable rate depends on many factors, such as the size of your home or business, the number of people in it, the optimal electrical power or the hours when you need the most electricity. At Tarífalo we make it very easy to get it right and save. Find the rate that suits you best in a single search with just one click.
These are the best electricity rates in Spain
Check our updated top list of new free-market electricity rates at the best available price. The quality of the energy is always the same, but the fixed fee, the services or the type of rate make the difference between continuing to overpay and cutting your bill instantly with our monthly ranking.
Other electricity rates worth considering
Relax Plus Rate
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Fácil Luz Hogar
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Classic Rate
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Types of electricity rates on the market
There is currently a very wide range of rate options, which lets you fine-tune your search for a fixed price or time-of-use rates according to your habits, how flexible your time is and your average usage. The different time bands don't affect regulated-market (PVPC) consumers in the same way as free-market ones. Both share the same access tariff costs and taxes, but on the free market the electricity price is set by the suppliers, so rates are more stable, as they're not affected by daily swings in the wholesale market, and they offer many more options and plans to better meet each customer's usage needs.
Cheap electricity rates
To pay less for electricity there are discounts, promotions and offers, especially when switching supplier. Finding the cheapest rate is a choice that should fit the type of home or premises, personal circumstances and level of usage, because depending on these factors a rate can be the cheapest and most convenient for one consumer profile and inadvisable for others. When you receive offers, make sure they're based on a correct estimate of your energy usage to avoid nasty surprises when the first bill arrives. That's why the Tarífalo comparison tool is the best help to prevent this kind of problem.
Time-of-use electricity rate
The the electricity price on the wholesale market varies every hour depending on how the balance between energy production costs and demand in each hourevolves throughout the day, which is why there are price differences if you compare your current electricity bill with June's, for example.
Some companies offer products in which you can choose free hours of usage per week or month, with the rest of the time priced according to each band.
Time-of-use banded rate
On the free market, the price per kWh varies by time band, as on the protected-price PVPC rate. Sometimes free-market time-of-use rates match the same bands as the regulated rate, but not always, so it's worth checking whether the hourly pricing matches the official time bands.
Electricity rate time bands:
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Peak hours: From 10:00 to 14:00 and from 18:00 to 22:00, Monday to Friday.
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Mid-peak hours: From 08:00 to 10:00, from 14:00 to 18:00 and from 22:00 to 00:00, Monday to Friday.
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Off-peak hours: From 00:00 to 08:00, Monday to Friday. and 24 hours a day on public holidays and every weekend.
Daytime electricity rates
With banded electricity rates, electricity is more expensive during the day on weekdays. So when you can't adjust your usage to the cheapest bands, the best option is to choose a discounted time band or a rate with the same price per kWh at any time of day. On the free market there are many fixed-price rates as well as specific plans for summer and winter schedules.
Night rate
They offer very low prices at night and at weekends. However, the price per kWh is higher in the mornings and afternoons on other days of the week. This option is attractive for night-time businesses, second homes or when you spend most of the day away from home because of work or other circumstances and, in any case, as long as you can use the nights to run your most energy-hungry appliances.
Still can't decide? Compare the best electricity rates
The range of electricity suppliers and rates on the free market is so wide that it's hard to choose the most suitable one. The lowest price isn't always the best option, as you also need to consider personal and usage factors to keep paying a reasonable price in the medium term. With guaranteed fixed-price offers, pay particular attention to when the plan ends: if the price rises, you can switch company at any time. Our electricity rate comparison helps you choose the best rate whenever you need to.
Frequently asked questions
How do I choose the best electricity rate?
Some things to bear in mind before signing up for an electricity offer are:
Pre-contractual information and sign-up conditions
The rate details should be clear and understandable, especially regarding essential elements of the contract such as the minimum term and whether the price per kWh is fixed or variable. Our app for checking hourly electricity rate prices will be very useful here.
Customer service
Communication channels, phone, email, waiting times, opening hours and whether service is personal are some of the things to consider. “Online” offers, for example, often have attractive prices, but usually all procedures must be carried out by the customer themselves online, without making a call.
Other additional services
The cost of the rate also varies with any additional maintenance and repair services included or available to add, whose value for money should be checked before choosing a rate.
Payment methods and options
Looking at the available payment methods and whether you can pay in instalments is something to consider, especially with flat rates that involve an annual review of the contracted usage.
Renewable energy source
Environmental criteria are becoming increasingly important when choosing an electricity offer, as consumers are aware of the impact energy use has on the environment. That's why suppliers are adding new environmentally friendly green electricity rates, as is the case with Podo or Repsol.
The The Guarantees of Origin (GdO) System is the certificate issued by the National Markets and Competition Commission (CNMC) that proves to the consumer that the energy in their contract comes from renewable sources, such as wind, hydro or solar. In April 2022 the new electricity labelling came into force on electricity bills issued from that date.
Which electricity rate is best to sign up for?
The rate to sign up for should be the one that suits you best, so you first need to know your average usage taking into account:
– the type of home
– the floor area of the property
– thermal insulation
– type of heating (electric, natural gas, …)
– number of people
– usage habits (schedule and use of appliances)
– required electrical power
Any change in circumstances, such as moving house or the birth of a baby, will affect the account holder's electricity and gas needs and therefore the home's energy usage. So you don't have to pay more on your electricity bill, new rates are waiting for you in our free comparison tool.
What is a variable electricity rate?
In addition, the electrical power that sets the limit of the installation also has two time bands with different prices. These are:
Peak:
From 08:00 to 00:00 Monday to Friday.
Off-peak:
From 08:00 to 00:00 Monday to Friday and 24 hours a day on Saturdays and Sundays.
What is a fixed electricity rate?
With fixed-price or indexed rates you always pay the same amount per kWh used, regardless of the time and day. The deciding factor on the bill is the usage measured in kWh used during the billing period. It is one of the cheapest types of electricity rate for homes with contracted power below 10 kW. Its price is also more stable and you don't have to watch the clock when using your most energy-hungry appliances.
This category should not be confused with flat rates in which you pay the same monthly fee regardless of usage and time all year round; at the end, the supplier settles any under- or over-usage according to the contract.
Types of rates
Rates with a fixed price per kWh
This group includes all rates in which you pay the same price for each kWh of energy used. They are also called stable-price or indexed rates because the price is always the same at all hours and days of the year, so it doesn't matter when you use electricity. What matters for billing is usage, specifically how many kWh you've used. In Tarífalo's electricity rate search, check all the updated fixed prices to find energy solutions tailored to you.
Benefits of an indexed price
- It isn't affected by the price swings other types of rates may have due to periodic rises or changes in the wholesale electricity price.
- It gives you flexibility over when you use electricity, as you don't have to keep track of the price fluctuations of time-of-use rates. With an indexed-price rate you don't have to watch the clock to cook or use your most energy-hungry appliances
- For low-usage home electricity supply with contracted power below 10 kW, it is one of the cheapest types of electricity rate.
Time-of-use rates
The electricity price changes every hour depending on how the relationship between energy production costs and demand evolves throughout the day, which is why there is a price difference currently divided into three time bands with different prices per kWh.
Electricity rate time bands
Off-peak: night-time on weekdays and full non-working days, from 00:00 to 08:00 Monday to Friday and 24 hours a day at weekends and on public holidays. During this period the price per kWh is cheapest.
Mid-peak: applies in three periods a day, Monday to Friday: from 08:00 to 10:00, from 14:00 to 18:00 and from 22:00 to 00:00. The electricity price is intermediate during these hours.
Peak: the hours of the day when electricity rates are most expensive, from 10:00 to 14:00 and from 18:00 to 22:00 Monday to Friday; it doesn't apply at weekends or on public holidays. With time-of-use electricity rates, the price per kWh is generally higher during the day on working days (peak and mid-peak) and cheaper at night, at weekends and on public holidays (off-peak). That's why it's important to know these time bands well so you can shift your usage to the cheapest hours if you have this type of rate.
Electricity time bands don't affect all consumers equally, as this depends on whether you're on the regulated market (PVPC) or the free market and on the type of rate you have.
Benefits of these rates
- They let people who can adapt to the time bands and concentrate their usage in the cheapest hours save on their electricity bill.
- They encourage more efficient and conscious energy use.
Rates with free or discounted hours
Unlike classic time-of-use rates, with this option the consumer chooses specific hours in which their electricity usage will be completely free, or special discounts are applied to certain time bands, usually night-time and weekends.
Flat rates
Electricity flat rates offer a fixed monthly fee, with no changes, for a year, regardless of the time bands or actual kWh usage. The fee is calculated from average usage over the last 12 months, and at the end of each year an adjustment is made comparing actual usage with the maximum set in the contract. If actual usage was lower, some companies apply an equivalent discount on the next bill, while if usage was higher you'll have to pay the difference. However, each company has different conditions, sometimes offering payment facilities for any extra amount due.
Benefits of these rates
- Unlike time-of-use rates, you don't have to keep track of how much you use or when, and months of higher usage can be balanced out by periods of lower usage.
- It makes household budgeting easier, as long as you keep a proper monthly check on how your usage is evolving through the apps each company provides, to avoid surprises at the end of the contract year.
- Your efforts to save will be rewarded if your usage has been lower by the percentages and under the conditions set by each company.
