Changes to electricity tariffs were introduced on June 1st making it cheaper in the early hours of the morning but more expensive during the day.
According to ThinkSpain using power at peak times will be a lot more more expensive but 95% less during off-peak times. There will be three price slots which apparently only affect customers who do not already have a time discrimination contract.
Off Peak : Midnight to 07:59
Peak Time : 10:00 to 2pm and 18:00 to 22:00
The remainder is Flat Rate including all weekends and bank holidays.
Further detail can be found on the ThinkSpain website.