Smart Electricity 24 months
A two-year fixed-term electricity contract that offers you price stability. By steering your electricity usage, Smart Electricity offers the opportunity to impact on the amount of your electricity bill positively.
Price stability and adjustability
Smart Electricity is an electricity contract that allows you to combine the benefits of fixed-priced and hourly priced electricity. The price of Smart Electricity is composed of a basic component, which goes up or down depending on whether you use electricity at a time when the price is high or low. Smart Electricity brings stability to your electricity contract, and it also allows you to benefit from shifting electricity consumption to more favourably priced hours.
When you choose Smart Electricity, register to the free Oma Helen service. In Oma Helen, you can monitor your electricity usage and actual invoiced prices, and you will get all information of any changes in prices and contracts. Oma Helen will help you plan your electricity usage towards low-cost hours. With the help of Oma Helen, you can also and get reminders about high and low hourly prices. Download Oma Helen from your app store or log in to the service on the browser.
- 24 month fixed-term contract
- Fixed price throughout the contract period
- Production mix of electricity produced in Finland: nuclear power 49%, fossil sources 41%, renewable sources 10% (2021)
- Includes electrical accident insurance for the whole family
- Prices include VAT 10%. From May 1st, 2023, VAT will be 24%, causing prices to increase accordingly.
Smart Electricity 24 months
Composition of the price of Smart Electricity
The price of the Smart Electricity contract is composed of the basic component of the electricity price, impact of usage and the monthly basic charge.
The basic component is the part of electricity price, that is determined on the day of drawing up the contract, and it will remain unchanged for a period of two years.
The impact of usage decreases or increases the amount of the basic component depending on whether you use electricity at a time when the price is low or high.
If the majority of your electricity is consumed during those hours of the day or night when the price of electricity is higher than average, the price of the basic component increases. If, on the other hand, you shift your electricity consumption to hours when the price of electricity is lower than average, the price of the basic component decreases.
By shifting your electricity usage, you can impact the amount of your electricity bill by utilising lower-priced hours of the day and night.
The fixed monthly basic charge of the Smart Electricity contract is not dependent on the amount of your electricity consumption.
An example of the impact of usage
45% Usage that decreases the price
25% Usage that increases the price
30% Neutral impact
Basic component 20,0 c/kWh
Example calculations of the usage impact. In the example, the fixed price part is 20 c/kWh. Usage impact in the example is either + 4 c/kWh or - 4 c/kWh.
You have used electricity during lower-priced periods
Impact of usage: - 4 c/kWh
Energy billing price: 20 - 4 = 16 c/kWh
+ basic charge: €/month
You have used electricity during higher-priced periods
Impact of usage: + 4 c/kWh
Energy billing price: 20 + 4 = 24 c/kWh
+ basic charge: €/month
More information about the electricity contract
Where possible, carry out activities that use a lot of energy, such as doing the laundry, going to sauna, charging an EV, or using electric heating, late in the evening, during the night and at weekends when the price of electricity is lower than average.
Find out your current usage data and review your hourly consumption habits in the Oma Helen service. Correct usage data helps to take smart energy-efficiency measures, and even small actions can significantly reduce energy consumption.
Monday - Friday
Saturday - Sunday
Lower price: shift usage to these hours
Typical price trend of electricity at different times of the day
Higher price: reduce usage during these hours
Neutral hours: no major impact on the price
The impact of usage arises when the hourly prices of your electricity usage are compared to the monthly average price of electricity in the power exchange. Electricity usage during lower-priced hours in comparison to the average price will decrease your energy fee while electricity usage during higher-priced hours will increase your energy fee.
The impact of usage will increase or decrease the monthly energy fee, depending on your electricity usage during the past month. Normally, the amount of the impact of usage per month is between -4 and +4 c/kWh, in which case your monthly price of electricity will increase or decrease by the impact of usage.
Monthly average price for exchange electricity (c/kWh)
Lower price (c/kWh): shift usage to these hours
Higher price (c/kWh): reduce usage during these hours
Neutral hours (c/kWh): no major impact on the price
The impact of usage means comparing the hourly prices of your consumption to the monthly average price of electricity in the power exchange. The calculation formula used is (A-B) / E = c/kWh, which gives the impact of usage for the month in question.
A = Your hourly electricity usage (kWh) is multiplied by the hourly price of exchange electricity (c/kWh), after which the products of all hours are added up. As the electricity consumption of different hours and the hourly price of exchange electricity vary to a great extent, the impact of every hour will be taken into account with this calculation formula.
B = Your electricity usage over the whole month (kWh) is multiplied by the monthly average price of exchange electricity (c/kWh). This gives the value for your electricity usage if it complies with the monthly average price of exchange electricity.
E = Your electricity usage over the whole month (kWh)
When figure B is deducted from figure A, you will get the view of how you have consumed electricity in relation to the monthly average price in the power exchange. The figure obtained is divided by the electricity usage of the whole month, which gives you the impact of usage for the past month (+/- c/kWh).
The final figure is either negative, in which case the amount of your electricity bill will be decreased, or positive, in which case it will increase the amount of your electricity bill. The more you are able to shift usage to the lower-priced hours of the month, the greater the saving you will make in view of the monthly average.
Please note, that in this electricity contract the invoiced price of electric energy cannot be negative.