Fixed-term Välkky Electricity

The origin of electricity supplied on the basis of this contract is mixed electricity produced with renewable energy, nuclear power and fossil fuels in accordance with Finland’s production mix.

1. VALIDITY AND TERMINATION OF THE CONTRACT

Fixed-term Välkky Electricity contract is valid for the fixed term stated in the contract confirmation. After that, the contract will become valid until further notice, subject to contract prices valid at any given time. The customer shall then have the right to cancel the contract with a 14-day period of notice, and the electricity supplier shall have the right to cancel the contract with a 14-day period of notice. The new prices to be applied to the contract will be notified 1 month before the contract expires.

A fixed-term contract cannot be terminated during its validity period.

The termination fee is determined based on the remaining duration of the contract at the time of termination. The fee takes into account the forecasted electricity consumption for the remaining contract period and the derivative price used as the basis for the hedging at the start of the contract, applied to the remaining period. The termination fee fully covers the electricity supplier’s remaining costs. In addition, a service fee related to the administrative work of the termination will be added. The price of the service fee related to contract termination valid at any given time can be found in the service price list (a link to the price list is available on the page General Terms and Conditions). The termination fee will be charged if the contract is terminated during its fixed term in violation of the electricity sales terms recommended by Finnish Energy (Energiateollisuus ry). The termination fee applies to contracts made on or after July 1, 2025.

2. PRICE OF ELECTRICITY

The price of Fixed-term Välkky Electricity contract comprises three price components: 1) the fixed price for electric energy (c/kWh) agreed for the contract period, 2) the price component determined on the basis of the timing of consumption (c/kWh, subsequently the usage impact), and 3) monthly basic fee. The billing price of electric energy consists of a fixed price part c/kWh (1), to which is added the monthly realized, site-specific usage impact c/kWh (2). However, the invoiced price of electric energy cannot be negative.

The usage impact is described in further detail below. The actual invoiced prices are available in the Oma Helen app. The customer’s consent to using Oma Helen is a precondition for drawing up the Fixed-term Välkky Electricity contract. The supplier refunds or charges the metering point-specific consumption impact each calendar month.

The usage impact is determined on the basis of the price in the Finnish price area (Elspot), published by the Nordic power exchange (Nord Pool AS), and the customer’s consumption. The calculation period is one calendar month. If the customer’s contract starts or ends in the middle of a calendar month, the part of the calendar month in which the customer has had a valid Fixed-term Välkky Electricity contract shall be used in the price calculation. The customer’s consumption-weighted average price (A) is thus based on the electricity consumption and price on the effective days and on the average price of the power exchange over the entire invoicing month (B).

The monthly usage impact is calculated as follows:

(A-B) / E = c/kWh, where

A = the sum of the products of the electricity consumption (kWh) and the spot prices of exchange electricity (c/kWh)*

B = Monthly electricity consumption (kWh) multiplied by the non-weighted monthly average of exchange electricity (c/kWh)

E = Monthly electricity consumption (kWh)

A = Consumption is multiplied by the spot price for the same time, after which these products of all periods of the month are added up. This way, the usage impact of various moments over the month is taken into account because consumption and the spot price determined on the market for different moments vary greatly by the periods. *If the measurement period of the meter is different from the market's spot price period, an average spot price from NordPool's spot prices is calculated for the meter's measurement period, which is used for billing.

B = The electricity consumption of the same month is added together and multiplied by the monthly average of the spot price for the same month. This makes it possible to calculate the price for total consumption according to the average spot price.

(A-B) = By deducting B from A, you can see the relation of consumption in lower and higher priced moments to the average value. Whether the value is negative, i.e. reducing the invoice amount, or positive, i.e. increasing the invoice amount, is determined according to whether a higher proportion of monthly consumption is consumed during a lower-priced or higher-priced period in comparison to the average for the whole month. The more you can direct monthly consumption to the lower-priced periods, the more you will stay below the monthly average.

(A-B) / E = A-B calculated in the end is proportioned to consumption by dividing it by the month’s consumption. This gives the usage impact, i.e. the value as a c/kWh unit. This is basically a matter of comparing the spot prices of the consumer’s own consumption with the monthly average spot price.

3. AMENDMENTS TO CONTRACT TERMS AND PRICES

The impact on the electricity prices as a result of changes in taxes, public charges and other fees comparable to them is taken into account immediately when they enter into force. The electricity supplier shall notify the customer in Oma Helen of their impact on pricing as soon as it has been informed of the change.

The impact of the change in Fingrid’s volume fee for production and consumption on electricity prices is taken into account immediately when it enters into force. The electricity supplier shall notify the customer of the impact of the change on pricing as soon as it has been informed of the change. Fingrid’s volume fee for production and consumption valid at any given time is available at https://www.fingrid.fi/en/electricity-market/balance-service/fees/.

After the fixed contract term has expired, the electricity supplier may change the terms or prices of the contract by notifying the customer 1 month before the change enters into force. The electricity supplier shall notify these changes to the customer in Oma Helen.

4. OTHER TERMS  

Fixed-term Välkky Electricity contract can be drawn up for a consumer customer whose maximum annual electricity consumption in a metering point is 100,000 kWh/year. If the actual electricity use exceeds 100,000 kWh/year, Helen shall shave the right to cancel the contract with a 14-day period of notice. If the contract has been made between Helen and business customer, Helen has the right to immediately switch the contract to a Spot contract that is valid for the time being.

The spot price is used in the calculation of usage impact. The price of electricity on the electricity market is determined by supply and demand. Spot price fluctuations on the electricity market offer customers the opportunity to influence the price of their electricity bill by timing their consumption to the most affordable periods. If the use of electricity is concentrated during more expensive periods, it will have an increasing effect on the usage impact.

The characteristics of spot priced electricity include that the price paid for electricity can vary significantly within a day as well as between days. The end user does not know the price beyond a one-day period. Therefore, from the customer's perspective, the spot priced electricity includes both opportunities and risks.