Terms of the contract - Smart Electricity Guarantee

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.

Duration of the contract

Smart Electricity Guarantee contract is a fixed-term contract. The contract is valid for the fixed term stated in the confirmation of contract. 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.

Price of electricity

The price of Smart Electricity Guarantee 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 charge. 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 Smart Electricity Guarantee 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 hourly price in the Finnish price area (Elspot), published by the Nordic power exchange (Nord Pool AS), and the customer’s hourly 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 Smart Electricity Guarantee contract shall be used in the price calculation. The customer’s consumption-weighted average price (A) is thus based on the electricity consumption and hourly 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 prices of hourly electricity consumption (kWh) and the hourly 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 = One hour’s consumption is multiplied by the spot price for the same hour, after which these products of all hours of the month are added up. This way, the impact of every hour over the month is taken into account because consumption and the spot price determined on the market for different hours vary greatly by the hour.

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 hours 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 hour in comparison to the average for the whole month. The more you can direct monthly consumption to the lower-priced hours, 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 hourly prices of the consumer’s own consumption with the monthly average spot price.

Changes to the terms of contract 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.

Other terms

The Smart Electricity Guarantee contract can be concluded for a consumer customer covered by Helen Ltd's delivery obligation whose annual electricity consumption at the place of electricity use is no more than 100,000 kWh/year or the main fuse size is not higher than 3 x 63 A.

If the consumer-customer's place of electricity use is outside Helsinki, an additional condition is that the place of use has an electricity contract with Helen Ltd by 19 December 2022.

If the realised electricity consumption exceeds 100,000 kWh/year or the main fuse size is higher than 3 x 63 A, Helen has the right to terminate the contract with a notice period of 14 days. If the contract has been concluded between Helen and a business customer, Helen has the right to immediately transfer the contract to a spot contract that is valid until further notice.

In addition to these terms, the Terms of Electricity Sales and the Terms of Electricity Supply (SME2014 and SME2019 valid at the time of drawing up the contract), or corresponding compensatory terms used in the sector, shall be applied.