What are the cheapest times to use electricity with an indexed rate in Spain?

If you have an indexed rate, you’ve probably heard the same advice many times: take advantage of off-peak hours to run the washing machine, the dishwasher, or charge your electric car. However, there’s an important caveat: off-peak hours don’t always coincide with the times when the market price of electricity is lowest.

The growing presence of solar power in the electrical grid means that, on certain days, midday hours can see particularly low market prices. At the same time, there is no solar production in the early morning, and market behavior may differ.

Therefore, if you have an indexed rate and can adjust part of your consumption, it’s no longer enough to think solely in terms of “day or night.” You need to take into account both the price of electricity and the peak, off-peak, and valley periods. In this guide, Evergreen Eléctrica explains how to do it.

 

Off-peak hours and cheaper electricity rates: Are they the same thing?

 

Not necessarily. And understanding this difference is essential to getting the most out of an indexed rate plan.

On the one hand, there are the P1, P2, and P3 periods, which determine the cost of the transmission fees and charges associated with electricity consumption. The off-peak period, or P3, is the one with the lowest transmission fees.

On the other hand, there’s the market price of electricity, which can vary considerably throughout the day.

This means that a given period may have lower transmission fees, but the market price of electricity could be higher than at another time of day.

If you’d like to learn more about how these types of contracts work, we explain it in detail in our article: Understanding Electricity Tariffs in Spain: How to Choose the Right Option.

Therefore, the key to optimizing consumption is to evaluate both the rate period and market trends together, rather than assuming that the early morning will always be the cheapest time.

 

What are the peak, standard, and off-peak hours?

 

Under the 2.0TD rate plan, for the Iberian Peninsula, the Balearic Islands, and the Canary Islands, weekdays (Monday through Friday) are divided as follows:

• Peak period (P1): 10:00 a.m. to 2:00 p.m. and 6:00 p.m. to 10:00 p.m.
• Standard period (P2): 8:00 a.m. to 10:00 a.m., 2:00 p.m. to 6:00 p.m., and 10:00 p.m. to midnight.
• Off-peak period (P3): midnight to 8:00 a.m.

On Saturdays and Sundays, all 24 hours are considered off-peak. January 6 and certain national holidays established by regulation are also considered P3 periods for the entire day. Additionally, Ceuta and Melilla have a different time schedule.

This is important: not all regional or local holidays are automatically considered off-peak periods. These time slots indicate when electricity rates are higher or lower, but they do not, on their own, tell us when electricity will have the lowest market price.

 

Why can electricity be cheaper during daylight hours than in the early morning?

 

The answer lies, to a large extent, in how electricity is generated. During the middle of the day, there is greater availability of solar photovoltaic generation. When there is plenty of renewable energy available to meet demand, the price on the electricity market can drop significantly

At night, solar generation disappears. The power system must meet demand using other technologies, and depending on the circumstances of that particular day, the share of power plants with higher generation costs may increase.

Gas can also play a role. When combined-cycle power plants must be used and the price of gas is high, their share can contribute to an increase in the resulting market price.

However, the price of electricity does not depend solely on gas. Other factors come into play, such as demand, wind and hydroelectric generation, the availability of different generation technologies, and international power exchanges.

As a result, on some days the market may record lower prices during peak solar generation hours than during the early morning. Therefore, we should not confuse “off-peak hours” with “cheaper energy.”

 

So, when is the best time to use electricity?

 

There isn’t a single time that’s always the cheapest. That’s precisely why those with an indexed rate can benefit from some flexibility when it comes to managing their usage. However, there are certain time periods worth paying special attention to.

Weekends: Take Advantage of Midday Hours

Saturdays and Sundays offer a particularly attractive combination. The entire day is classified as P3, so off-peak rates apply. If you also concentrate certain uses during peak solar production hours, you may find reduced market prices.

Therefore, when market conditions are favorable, the midday hours on Saturdays and Sundays can be a good time to concentrate any consumption that you can shift.

Weekdays: Pay Attention to 2:00 PM–6:00 PM

From Monday through Friday, the time slot between 2:00 PM and 6:00 PM corresponds to the P2 flat-rate period. At the same time, there may still be significant solar production.

This makes this time slot one worth checking if you want to schedule energy-consuming activities such as running the washing machine, dishwasher, dryer, electric water heater, or charging an electric vehicle.

This doesn’t mean it will be the cheapest option every day. Market prices fluctuate and should be checked daily.

What about between 10:00 a.m. and 2:00 p.m.?

Here we have a good example of why it’s important to distinguish between transmission charges and market prices.

During these hours, solar generation may be high, and as a result, the market may see lower prices. However, Monday through Friday, from 10:00 a.m. to 2:00 p.m., we’re in P1, or the peak period, with higher transmission charges.

Therefore, it’s not advisable to automatically recommend this time slot. There will be days when a particularly low market price might make it worthwhile, and others when it won’t.

From 6:00 PM to 10:00 PM: a time slot worth keeping an eye on

On weekdays, the hours between 6:00 PM and 10:00 PM also fall within the P1 peak period. Additionally, depending on the time of year and the specific hour, solar production is decreasing or has already ceased.

Whenever you have flexibility, it’s worth comparing this time slot with other times of the day before concentrating your highest-electricity-demand activities during it.

 

Does this mean it’s no longer worth using electricity at night?

 

No. The conclusion shouldn’t be that the early morning hours are no longer worth considering. From 12:00 a.m. to 8:00 a.m., it remains a P3 off-peak period on weekdays, so it still has the lowest rates. What has changed is the practicality of relying on a rule as simple as “nighttime is always cheaper.”

Energy prices may mean that, on certain days, other time slots become competitive even though they fall under P2 or even P1. Therefore, to take advantage of an indexed rate, it’s best to check the market price and combine that information with the rate periods.

 

The best times vary depending on the time of year

 

The season also matters. During spring and summer, there are more hours of sunlight, which extends the period during which solar power generation can have a significant impact on the market.

In fall and winter, the opposite is true: there are fewer daylight hours, and solar production is concentrated over a shorter period. Additionally, the time change at the end of October shifts daylight hours relative to certain toll bands that are applied based on official time.

For this reason, the habits that work best in summer aren’t necessarily the same in winter.

 

Electricity prices are no longer set hourly

 

There has also been a significant change in how the electricity market operates that you should be aware of. As of October 1, 2025, the daily electricity market managed by OMIE uses 15-minute trading periods.

This means that for each day, there are 96 quarter-hourly prices, rather than limiting the daily market to 24 hourly prices. This change allows prices to more accurately reflect shifts in supply and demand that occur throughout the day.

For consumers, the key takeaway is simple: the electricity market is becoming increasingly granular, and energy prices can vary even within a single hour.

 

Check prices before scheduling your energy use

 

If you have an indexed rate plan, monitoring price trends allows you to make more informed decisions. You can check electricity market data on OMIE (Iberian Energy Market Operator) and electricity system information available through ESIOS, from Red Eléctrica.

You don’t need to constantly monitor the market or change all your habits. A much simpler strategy is to identify which uses you can shift without affecting your daily routine: washing machine, dryer, dishwasher, electric water heater, or charging your vehicle, for example.

Then, you can try to concentrate these activities during the most favorable times of each day.

 

Indexed Rate or Fixed Rate?

 

Knowing which hours are the cheapest is especially useful if you already have a rate tied to the market. But if you’re still evaluating which option best suits your needs, these are different considerations.

An indexed rate allows market fluctuations to be passed on to the consumer, while a fixed rate aims to offer greater stability in the contracted price. In our guide on indexed vs. fixed electricity rates, you can review the differences between the two options before making a decision.

 

Learn how to make the most of your electricity usage with Evergreen Eléctrica

 

Finding the cheapest times to use electricity with an indexed rate is no longer simply a matter of shifting all your usage to the early morning. Off-peak hours still offer the lowest rates, but changes in energy prices and the growing share of renewable generation mean that midday hours can also present opportunities.

The best strategy is to combine three factors: the market price, the P1, P2, and P3 periods, and your own consumption habits.

At Evergreen Eléctrica, we help you understand your consumption and choose a rate tailored to your needs. If you’d like to review your bill, your contracted power capacity, or explore how to optimize your electricity consumption, please contact our team.