Voluntary Price for the Small Consumer
Options for customers paying the VPSC
El The Voluntary Price for the Small Consumer (VPSC) ) is the price-setting mechanism used by the government since 1 April 2014. With this methodology, the price of electricity is calculated on a daily and hourly basis, according to the prices of the daily energy market. Being a regulated price, this rate can only be contracted through Reference Retailers; in the case of IBERDROLA, Iberdrola Comercialización de Último Recurso S.A.U.
Billing for customers signed up for the VPSC depends on whether or not you have a remotely managed smart meter.
- If you have a smart meter As we already have information on your consumption for each hour, we bill you according to your hourly consumption at the price set by the energy market for every hour.
- If you do not have a smart meter yet As we do not yet know how much you use each hour, we bill you based on an average usage published and continuously updated by the Red Eléctrica de España (REE).
Within the VPSC, you can sign up for 3 types of rates where the price varies considerably in certain time slots.
- General Rate Prices vary little throughout the day, but are somewhat cheaper at night.
- Night-time Rate Prices vary depending on the time slot: peak (in the morning) or off-peak (at night). Winter: peak slot noon to 10pm and off-peak slot 10pm to noon. Summer: peak slot 1pm to 11pm and off-peak slot 11pm to 1pm.
- Super Off-Peak Rate In addition to peak and off-peak slots, there is a new cheaper slot from 1am to 7am called Super Off-Peak. This time-of-day rate is ideal for charging electric vehicles more cheaply.
All low-voltage consumers who have contracted power equal to or less than 10kW can sign up for the Voluntary Price for the Small Consumer.
VPSM prices vary for each hour of each day and depend on the prices published daily by Red Eléctrica de España as from 8:15 pm on the previous day.
Plus, if you go to your personal Iberdrola area, My Customer Area, there are graphs showing consumption, prices and amounts billed each hour.
The cheapest times are usually those in which energy demand is lower
- Night-time hours
The price for each day and each hour may fluctuate depending on demand and weather conditions: for example, if it is windy, the cost of energy is generally lower; in contrast, if there is no wind or rain, the cost can rise significantly.
See conditions here(PDF)