In this thread, discussion about electricity sales contracts, i.e., their prices and terms.
To prevent discussions about electricity contracts offered in Finland from spilling over to other forums, this thread can be used to present electricity contract prices/offers/terms.
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Good and current start, every investor’s personal cash flow is indeed relevant for investing 
I live in a semi-detached house and the heating method is geothermal. So electricity is consumed to some extent, but certainly not as much as with electric heating. Total consumption ~21 kWh/year, although now it will be significantly more because we switched to an electric car in January.
The fixed-term contract (4.9 c/kWh, 0€/month) expires at the end of December.
Now we are pondering with the neighbor whether it would be worthwhile to renew the contract for a 1-2 year fixed term now or continue with the current one until the end of the year and then take some shorter contract type.
Any thoughts?
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An extremely good question, but it would require a crystal ball. Futures are expected to move around 20c/kWh next year, according to the news. It’s hard to say. Perhaps in early 2023, we’ll all be wiser about the costs.
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The biggest cause for excitement with the fixed contract of 4.69c/kWh until September 2023 is whether the electricity company will stay afloat during these challenging times. If it does, then for once, it has been a good contract from my perspective 
One never knows how bad the situation will be again in a year…
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A little relief in sight?: IS:n tiedot: Sähkön alv alenemassa, palkkaveron kevennys vastatuulessa - Ilta-Sanomat
“According to IS’s information, the government will likely curb high electricity prices by lowering the electricity value-added tax (VAT) from the current 24 percent to either 10 or 14 percent.”
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I also have a contract for under 7 cents until November 2023. But we’ve been thinking hard and have already started saving electricity, even though we have a contract in hand.
Out of solidarity with those suffering, and considering my own, the state’s, and the electricity company’s future, we won’t be acting wastefully.
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I have a five-cent contract valid until April next year. A three-room apartment in an apartment building, and according to my recent bills, the average consumption is about 130 kWh/month. So, very small. I had planned to look for a new, bigger house, but it seems that will remain at the observation level for now. This low electricity consumption is indeed an advantage in my current house with these electricity prices, and there’s enough space for my partner and me at the moment.
However, I’m eagerly waiting to see next spring’s prices, whether they have turned, settled, or are still rising.
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I have two contracts, one for home and one for the cottage. Both are around 13,000 kWh per year. At home, the contract is 5 c/kWh until 07/23. At the cottage, it’s the same price but only valid until 11/22. Both have been two-year fixed-term contracts.
Now, the electricity company offered a contract for the cottage at 18.9 c/kWh for two years, as an extension to the previous one. I took it after long consideration, because OL3 (Olkiluoto 3) is having problems again and I don’t want to risk even higher prices. It’s possible that in the second year, I’ll be paying an inflated price.
Edit: Also considering solar panels for the cottage. The first quote has been requested, but delivery time and other details are still open.
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A good start. My current 4.98 c/kWh and 0e/month contract ends on 31.12. Helen offered me 28.67 c/kWh and 3.99e/month a few weeks ago. After a moment of grimacing, I decided to take the offer. Helen has a contract penalty written in it if you want to get out of the contract: if consumption is under 20,000 kWh per year, it’s 50e, and if it’s over, it’s 200e. So, when this new contract starts, I’ll have to follow even more closely what kind of contracts are offered next spring/summer and stick with this one until then. I also considered not taking that contract and going with exchange electricity until spring, but the current prices are terrifying, and there have been enough uncertainties with Olkiluoto, so I didn’t dare to take an exchange contract. Fortunately, my consumption is moderate, about 2000 kWh per year, as it’s a terraced house with district heating. I’m more worried about how all this will affect the maintenance fee, but that’s perhaps a discussion for another thread.
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A couple of weeks ago, my contract for approximately 5c/kWh expired. I’ll probably let it continue as an open-ended contract because I don’t want to lock in current prices for long periods. From memory, the price for the open-ended contract was 17.95c/kWh until the end of September, and starting from October, it will be 43.95c/kWh. The monthly fee was probably €4.9/month.
I live in a detached house with direct electric heating, and the annual consumption has been 8800-9500 kWh/year for the past few years. No extraordinary measures have been taken to reduce electricity consumption. The house has a heat-retaining fireplace, mechanical ventilation with heat recovery (LTO), and a year-old modern air-source heat pump.
I won’t lose any sleep over it.
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There’s a sense of a scam in the market, for example, Vattenfall, which previously sold separate solar electricity contracts (and other renewables), no longer allows ordering them. It’s surely convenient for the company’s bottom line to bundle all new contracts into the same category when electricity prices are sky-high. It would probably be difficult to explain to customers how the price of sunlight has increased by 800%. I should probably report it to consumer protection.
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Yesterday, there was also news about the progress of this project (the first news was already on May 18):
https://ec.europa.eu/commission/presscorner/detail/en/speech_22_5225
Every kilowatt-hour of electricity that Europe generates from solar, from wind, from hydropower, from biomass, from geothermal or green hydrogen makes us less dependent on Russian fossil fuels. So invest in that. If you look at the facts, the evidence, today, the price of wind and solar energy is cheaper than polluting fossil fuels. That is why, with our REPowerEU initiative, we will invest together EUR 300 billion to accelerate the green transition.
I interpret this as also related to the rising electricity prices:
We are doing it for Ukraine. We are doing this to uphold our European values. But we are also doing this to show – to Russia and the world – that breaking internationally shared rules comes with a massive cost. That has to be very clear. This effort must come together with a new European strategic thinking. Today, I would like to pin down three of its main tenets. First, to defend the rule of law and the rules-based order over time, we must neutralise Russia’s blackmail ability and strengthen our own capabilities to act. Second, we must support democracies that are most exposed to foreign threats – and I am not only thinking about Ukraine but also about the Western Balkans. And third, we must also look further, to global geopolitical shifts, and use our economic might to preserve and expand the rules-based global order.
And there is also direct talk:
The skyrocketing electricity prices are now exposing, for different reasons, the limitations of our current electricity market design. It was developed under completely different circumstances and for completely different purposes. It is no longer fit for purpose. That is why we, the Commission, are now working on an an emergency intervention and a structural reform of the electricity market. We need a new market model for electricity that really functions and brings us back into balance.
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What kind of offers have you received from the area’s universal service provider (toimitusvelvollinen sähkönmyyjä)? These are not disclosed separately, you have to call customer service.
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Apparently, it’s a slightly larger half of a semi-detached house, or do you have more power-intensive hobbies, given such high consumption with geothermal heating? Usually, you see annual consumption around 20 MWh in basic detached houses with direct electric heating.
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Now I don’t understand. If the total capacity in the “solar power market” is, for example, 10, and due to the energy crisis, 9/10 of that 10 has already been sold to replace gas, coal, etc., how could Vattenfall possibly, or even be able to, sell more solar power? Out of nothing? And if more were available, since demand exceeds supply, then business is business.
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My annual electricity consumption is under 3000 kWh, so the electricity price doesn’t hit me as hard as it does many others. But I’ll contribute to this thread to pass the time since the topic interests me, and I hope to buy a detached house in the coming years.
Currently, I live in a newer, small terraced apartment (rivarikaksio). I’d have to use the sauna 15-20 times a month to exceed 300 kWh monthly. I currently have an open-ended contract until the end of next month, with a price just under 12 cents. I haven’t seen yet what the price will be starting in October.
Last week, when I visited Fortum’s website, they offered the traditional 30c+ fixed-term contract for two years, which doesn’t sound sensible to me with current information.
However, they also offered fixed contracts for terraced houses if consumption is under 3000 kWh per year, with a fixed monthly fee of 60e. I haven’t looked into the details of how long that fixed-term contract is, etc., and I’m interested to know if anyone has used them?
I don’t really use the sauna much in the summer, but I do in the winter. Such a fixed contract would be good in the winter. Otherwise, I would have to forcibly use the sauna and electricity if the price were fixed in the summer too.
How does one typically know which company has a supply obligation in which area?
It’s not quite like that.
https://energiavirasto.fi/kuluttajainfo
"In Finland, electricity users are free to choose their electricity seller. The local network company is responsible for connecting to the electricity grid and distributing electricity. You can find electricity sellers that offer electricity to your postal code area from the price comparison service maintained by the Energy Authority www.sahkonhinta.fi.Link to another website
Within the responsibility area of your network company, there also operates a supplier-of-last-resort electricity seller, which must supply electricity to households in the area at public prices and conditions. The prices must be reasonable. You can get information about the supplier-of-last-resort in your area from the network company in your postal code area."
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I have an electricity sales contract from Vattenfall. The price is 4.93 cents/kWh until 7/2023. Invoicing is 0e/month. When the 2-year contract was taken in August 2021, Vattenfall only sold renewable electricity to consumers (i.e., it was not even possible to buy electricity produced with fossil fuels).
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