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Exchange Electricity – what is it?
What is the price of Exchange Electricity comprised of? How can I monitor my own electricity consumption? Read what Exchange Electricity means and learn how to reduce your electricity bill with your own consumption habits.
Exchange Electricity is an electricity contract in which the price of electricity varies by the hour according to the market price of the power exchange. This way the price of Exchange Electricity is always competitively tendered and up-to-date. The prices of Exchange Electricity are usually lowest in the late evening, at night and at weekends, and therefore your own consumption habits have a direct impact on the price you pay for electricity. The hourly prices for the next day are known by 3pm on the previous day, which means that you can plan your electricity consumption for the next day in advance. Exchange Electricity is an electricity contract valid until further notice, and you can cancel it with a period of notice of 14 days.
What is the price of Exchange Electricity comprised of?
The price of the Exchange Electricity contract is comprised of the price of energy and the basic charge of the electricity contract.
The price of energy is comprised of the hourly price of the power exchange implemented by the hour, added by value added tax and margin valid at any given time. The price of energy is determined separately for each hour of the 24-hour period, and therefore the billed price is based on your energy consumption during the hour in question. You can have an impact on your own electricity bill by shifting consumption to hours of the day when the price of energy is lower.
The basic charge of the electricity contract is a fixed monthly fee that is not dependent on the amount of electricity consumption. You can see the effective basic charge valid at any given time on your electricity bill.
As the total price of Exchange Electricity is based on energy consumption for every hour of the month and on the price of energy during the hour in question, the average price of the past month is presented on the bill according to actual hourly prices and the energy consumption during the hour in question.
Find out more about Exchange Electricity and check the up-to-date price data for an Exchange Electricity contract.
How can I monitor my own electricity consumption?
The easiest way to monitor your own electricity consumption is to use the Oma Helen app, and the hourly prices of Exchange Electricity can be viewed in Fingrid’s Tuntihinta app.
The Oma Helen app serves you at any time of the day, at the most convenient time for you. In the app, it is easy to manage your contract-related issues. Oma Helen also shows extensive information about your energy usage and production even at the hourly level. The use of the service is free of charge
Download from App Store
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Log in to Oma Helen in the browser
Fingrid’s free Tuntihinta app helps you choose the correct time for your electricity consumption. In the app, you can set price alerts and monitor the price of exchange electricity on the next day. With the price data, you can reduce your electricity consumption when electricity is more expensive and utilise lower-cost hours.
Tips for Exchange Electricity customers
- Find out your current consumption data and review your hourly consumption habits. Correct consumption data helps to take sensible energy-efficiency measures, and even small actions can significantly reduce energy consumption.
- Monitor your energy consumption in the Oma Helen app and plan your energy use in advance: the hourly prices for the next day are always available on this page by 3pm on the previous day.
- With Exchange Electricity, you can benefit from lower-cost hourly prices by optimising your consumption. Where possible, carry out activities that use a lot of energy, such as doing the laundry, going to sauna, charging an EV, or electric heating in the evening, during the night and at weekends when Exchange Electricity is cheaper.
- At times, the hourly prices can be high, normally on weekdays between 6am and 10pm. During this time, it is worth minimising your electricity consumption whenever it is possible. The easy-to-use Tuntihinta app by Fingrid is a useful aid in scheduling your consumption: you can set price alerts and monitor the hourly prices of the current and the next day.