The price of electricity today, Friday, May 1, 2026, drops and leaves a day with a very marked contrast between midday and night. Electricity reaches an average price of 57.87 euros per megawatt hour (MWh) in the Spanish wholesale market, according to data published by the Iberian Energy Market Operator (OMIE).
The figure represents a decrease compared to the previous day and focuses on the central hours of the day, when the lowest prices are concentrated.
The key for consumers looking to save is in the hourly electricity rate. This Friday there are seven consecutive periods with negative prices in the wholesale market, between 11:00 and 18:00. The cheapest hour will be from 15:00 to 16:00, with -2.10 euros/MWh. In contrast, the most expensive prices appear during the early morning and rise sharply again at night, especially between 20:00 and 22:00.
What is the cheapest time for electricity today
The cheapest hour for electricity today will be between 3:00 PM and 4:00 PM, when the wholesale price drops to -2.10 euros/MWh. It is the best part of the day to concentrate significant electrical consumption, such as washing machine, dishwasher, oven, iron, charging devices or accumulators, whenever it is possible to adapt it to that time slot.
The really favorable stretch is wider. From 11:00 AM to 6:00 PM, the wholesale market registers negative or practically null prices. That window turns midday and early afternoon into the best time of day to consume electricity.
Now, it is important to clarify something important: that the wholesale price is negative does not mean that electricity is free for the final consumer. The bill includes other concepts, such as tolls, charges, taxes, regulated costs, and marketing. Furthermore, consumers under the PVPC should take into account that Red Eléctrica publishes the hourly prices applicable to the energy term of the regulated tariff each day.
The best hours to consume electricity this May 1st
The best hours to consume electricity this Friday are concentrated between late morning and afternoon. If you look at the wholesale market, the most interesting periods are the following:
- From 11:00 to 12:00: -0.86 euros/MWh.
- From 12:00 to 13:00: -1.88 euros/MWh.
- From 13:00 to 14:00: -2.00 euros/MWh.
- From 14:00 to 15:00: -2.06 euros/MWh.
- From 15:00 to 16:00: -2.10 euros/MWh.
- From 16:00 to 17:00: -1.87 euros/MWh.
- From 17:00 to 18:00: -0.39 euros/MWh.
The practical reading is clear: whoever can shift consumption to midday and early afternoon will have more room to save. On a holiday like Labor Day, moreover, many families spend more time at home, so choosing the hours well can make a difference.
When is electricity most expensive today
Electricity will be more expensive in the early morning and at night. According to the hourly schedule of the wholesale market, the highest band of the day is between 00:00 and 01:00 hours, with 107.64 euros/MWh. There are also very high prices between 06:00 and 08:00 hours, and again in the night period.
At night, the most delicate hour will be from 9:00 PM to 10:00 PM, with 104.76 euros/MWh. It is also advisable to avoid, if possible, intense consumption between 8:00 PM and 11:00 PM, when the price clearly rises again.
The usual explanation for this pattern lies in the combination of demand and generation. During the central hours of the day, solar production usually pushes prices down. When evening falls and photovoltaic generation decreases, but domestic consumption increases, prices tend to rebound.
Price of electricity today, Friday, May 1, by the hour
This is the price of electricity by the hour in the wholesale market for this Friday, May 1:
- 00:00 - 01:00: 107.64 €/MWh
- 01:00 - 02:00: 103.01 €/MWh
- 02:00 - 03:00: 102.90 €/MWh
- 03:00 - 04:00: 102.59 €/MWh
- 04:00 - 05:00: 102.30 €/MWh
- 05:00 - 06:00: 102.72 €/MWh
- 06:00 - 07:00: 105.39 €/MWh
- 07:00 - 08:00: 103.85 €/MWh
- 08:00 - 09:00: 77.52 €/MWh
- 09:00 - 10:00: 23.29 €/MWh
- 10:00 - 11:00: 0.21 €/MWh
- 11:00 - 12:00: -0.86 €/MWh
- 12:00 - 13:00: -1.88 €/MWh
- 13:00 - 14:00: -2.00 €/MWh
- 14:00 - 15:00: -2.06 €/MWh
- 15:00 - 16:00: -2.10 €/MWh
- 16:00 - 17:00: -1.87 €/MWh
- 17:00 - 18:00: -0.39 €/MWh
- 18:00 - 19:00: 11.21 €/MWh
- 19:00 - 20:00: 55.71 €/MWh
- 20:00 - 21:00: 95.35 €/MWh
- 21:00 - 22:00: 104.76 €/MWh
- 22:00 - 23:00: 103.89 €/MWh
- 23:00 - 24:00: 97.83 €/MWh
OMIE places the average price of the Spanish daily market for this May 1st at 57.87 euros/MWh, with a minimum of -2.10 euros/MWh and an official daily maximum of 109.54 euros/MWh in its market data.
Why there are hours with negative prices
Hours with negative prices appear when the supply of electricity clearly exceeds demand at certain times. This usually happens on days with high renewable production, especially solar, and lower consumption. On holidays, in addition, the demand from industry and offices tends to be lower, which can accentuate the price drop during central hours.
At noon there is more energy available and less consumption pressure. That is why the market sets very low or even negative prices. But that situation changes at night, when solar contribution decreases and domestic consumption picks up.
This Friday it is interesting to move everything possible to the central block of the day. It is not always possible, but programming appliances in those time slots allows for better use of the daily curve.
Who is most affected by the hourly price of electricity?
The hourly electricity rate particularly affects consumers with the regulated PVPC tariff and those with contracts indexed to the market. In those cases, looking at the hourly price makes more sense, because the cost of energy varies depending on the time of consumption.
Instead, those who have a fixed rate in the free market will not necessarily see the same hour-by-hour impact, because they pay a price agreed upon with their marketer. Even so, many contracts may include time-of-day discrimination, reviews, or mixed formulas, so it is advisable to review the conditions of each bill.