Exchange Electricity – always at market price
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.
About the contract
The prices of Exchange Electricity are usually lowest in the evenings, at night and at weekends, and therefore your own consumption habits can 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. The Exchange Electricity contract is valid until further notice.
When you opt for Exchange Electricity, you will always pay for electricity according to the market price. In the contract, the price is comprised of the basic charge and the energy price. The energy price is based on the hourly implemented electricity spot price and your electricity consumption, added by the margin per kWh valid at any given time and value added tax.
The prices below include 10% value added tax. Starting 1 May 2023, value added tax for electricity will be 24%, our margin 0.38c/kWh and basic charge €3.93/month according to the current price list.
Exchange Electricity is our delivery obligation product.
Tips for Exchange Electricity customers
- 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.
- 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.
Exchange Price Electricity
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. With your own electricity consumption, you can have an impact on your electricity bill by utilising the hours of the day and night 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 check the effective basic charge in your contract details, which is found in our Oma Helen service.
The electricity bill shows the actual average price for the month. There are about 720 hours in a month, and each hour will have its own price. That is why these prices are not shown separately on the bill. The average price is obtained by weighting the price for every hour of the month with the energy consumption of the hour in question.
- Contract: valid until further notice
- Origin: complies with the Finnish production mix
- Price: follows the electricity spot price trend by the hour"
Price determination in further detail
The energy price of the Exchange Electricity product is determined by the price for the Finnish price area notified by the Nordic electricity exchange (Nord Pool Spot) so that value added tax and margin valid at any given time are added to the hourly price.
A Exchange Electricity electricity contract is a good choice when the market price of electricity starts to fall rapidly, for example, as the prices of emission allowances fall or when there are quick changes in the water supply situation.
In such a situation, the prices of other electricity products will not necessarily react to the price fall as readily as the Exchange Electricity electricity contract. In a reverse situation, the prices of Exchange Electricity electricity contract are the first to react upwards. This risk is worth keeping in mind.
The Exchange Electricity contract requires that electricity is metered and registered in the metering site on an hourly basis.
Your electricity bill shows actual consumption and a summary of the actual price. In Oma Helen, you can monitor your electricity usage even down at the hourly level and also easily manage your contract-related issues, where necessary. The service is free of charge.
ORIGIN OF ELECTRICITY
The origin of electricity is based on the production mix of electricity produced in Finland, deducted by electricity produced with energy sources with a certified guarantee of origin.
Hourly prices of the Nordic electricity exchange (Nord Pool)
The graph shows the Finnish area prices in the Nordic electricity exchange (Nord Pool). In the Exchange Electricity product, value added tax and margin are added to the Finnish area prices. The margin of Exchange Electricity is 0.24c/kWh and value added tax is 24%.