If you have trouble understanding your Spanish electricity bill, don’t worry because you’re certainly not the only one.

According to a survey by the country’s National Commission on Markets and Competition (CNMC), 70 percent of Spaniards don’t have the foggiest about how their billing works and don’t even know what plan they’re on.

It’s understandable as we all live busy lives and spending time sifting through bills and calling energy companies might not seem like a priority, but the cost-saving factor with the right plan and MO can be a whopping 50 percent.

What changes are in store for 2020?

From January 1st 2020, there will be six different energy time slots with varying prices for consumption.

Spain's residents will be able to choose between two different types of power rather the current single one.

This means that in the hours of less consumption, opting for a lower power can really help you save money.

What time frames will be the cheapest and most expensive?

The general rule of thumb is that from Monday to Friday the later in the day it is, the more expensive the electricity you use will be.

Early risers will be happy to hear that the cheapest time slot runs from midnight through to 8am.

From 8am to 10am it will be 20 percent more expensive, the same rate as from 2pm to 6pm and 10pm till midnight.

The most expensive time slots are from 10am to 2pm and 6pm to 10pm, the periods of the day when most people are at home and the national grid is put under most pressure.

Weekend and public holiday rates fall in the same category as the cheapest time slot.

Peak consumption rates will also vary slightly between summer and winter, generally running from 6pm to 11pm during the summer months.

The CNMC has also decided to tweak the rates marginally depending on where in Spain consumers are.

For example, in mainland Spain the months of January, February, July and December will be considered to be high season; mid season in March June, August, September and November and low season in April, May and October.

Energy experts have pointed out that this system isn’t exactly making it easier for consumers to understand how electricity billing works in Spain, but the general advice is to try to stick to the cheaper time frames to cut costs.

For example, using the washing machine, dishwasher or the stove at 9pm on a weekday will cost twice as much as at 7am or on weekends.

Who will be affected by these changes?

Anyone who hasn’t already signed up to a “discrimación horaria” deal (Spanish energy companies offer customers the choice of handpicking their hours of highest electrical consumption to get a discounted rate) will see their home or business energy bill affected.

The general consensus among energy experts is that the changes will lead to an overall annual saving of 2 percent for each household in Spain.

If consumers choose the lower power rate that’s now available and stick to the new low-rate time frames thoroughly, saving can be considerably higher.

But at points when electricity consumption is very high, rather than shutting down electricity by blowing the power fuse, energy companies will instead charge an extra penalty fee.