Electricity rates on the exchange fluctuate throughout the day, with the most expensive periods occurring on Saturday evenings between 10-11 p.m. However, for most of Saturday, electricity prices are zero or even negative, meaning consumers could potentially earn money for using electricity during those times.
From seven in the evening until ten p.m., electricity prices are zero, providing a window of opportunity for consumers to use electricity for free. At ten in the evening, the price rises to 0.19 cents per kilowatt hour but quickly drops back to zero at eleven o’clock. The lowest price recorded is -0.24 cents per kilowatt hour in the afternoon from three to four o’clock.
It’s important to note that while electricity itself may be free or even have a negative price, consumers still have to pay for transmission and other related fees. Additionally, many electricity contracts come with a basic monthly payment, so there may be other costs associated with using exchange electricity.
Overall, it’s crucial to monitor rates and take advantage of lower prices throughout the day. The graphic provided below shows the hourly costs of exchange electricity on Saturdays, allowing consumers to plan their usage accordingly.
The fluctuating nature of electricity prices can create opportunities and challenges for both producers and consumers alike on Saturdays.
Electricity producers must navigate an oversupply of energy during most of Saturday when prices are negative or zero until seven in the evening when they start paying again.
On the other hand, consumers can take advantage of these fluctuations by using energy during low-cost periods and earning money by supplying excess energy back into the grid during high-priced intervals.
While it’s essential to keep track of these rates and plan accordingly, it’s also worth noting that there may be additional fees associated with using exchange electricity beyond just production and transmission costs.
For example, many contracts include a basic monthly payment that does not change based on actual usage levels.
As such, it’s crucial for both producers and consumers to carefully evaluate their options before making any decisions about how they will interact with the electric exchange on Saturdays.
