Find The Best Electricity Contract in Finland
Whether it's a fixed-price contract or a spot price contract, you can easily find the best electricity contract - in just a few minutes!
Compare the cheapest electricity contracts in Finland
A difference of 1 cent in the price of electricity means an additional price of 100 euros for every 1000 kWh consumed. By choosing the cheapest electricity contract, you can easily save up to hundreds of euros per year.
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The cheapest electricity price can be found through comparison
Electricity contract comparison is worthwhile if you are looking for the cheapest electricity in Finland. Even if "cheap electricity" doesn't sound right in the current situation, saving money is always worth it. Here's how to find the cheapest electricity contract in 2023:
The cheapest electricity contract for a student
Students should choose an electricity contract that includes a student discount. This is how you ensure that your student apartment has the cheapest electricity contract and you can use your study grant for other necessary things.
Nordic Green Energy Opiskelijasähkö
The cheapest electricity contract for business
Before you start looking for a cheap electricity contract for your company, find out your company's annual electricity consumption and what time of day electricity is consumed the most.
Fixed-price electricity contract should be chosen if your company's electricity consumption is small and electricity consumption occurs in the middle of the day and in the evenings. Spot price electricity contract is again suitable for companies where production machinery or other equipment that consumes a lot of electricity can be used at night.
Electricity consumption at night is significantly lower throughout Finland, which makes night-time electricity more affordable when demand is lower.
The cheapest 24 month fixed-term contract right now
The market's cheapest 24-month electricity is currently offered by Fortum. A 24-month electricity contract is the most suitable for you if you can't bear to monitor the price of electricity on the exchange, or adjust your consumption according to the day of the week or the time of day. By choosing the cheapest electricity for 24 months, you lock in the same monthly price for two years, and then you don't have to stress about electricity price fluctuations. Cheapest electricity for 24 months can change often, so please keep an eye on our website and compare electricity contracts if necessary.
Fortum Takuu 24 months
The cheapest 12 month fixed-term contract
The cheapest electricity for 12 months can be found on our website. A 1-year electricity contract is the best choice if you don't have the time or desire to monitor the price of electricity on the stock exchange or stress about price changes. You lock in the same monthly price for a year for electricity use per kwh, and the time of day has no bearing on the price of your electricity. The cheapest electricity contract for 12 months at the moment is Nordic Green Green Energy's Smartti 12 months . The cheapest electricity for 12 months can change rapidly, so please remember to compare electricity contracts on our website.
How to find the best electricity contract in Finland?
You can find the cheapest electricity contract in Finland through comparison. To choose a suitable electricity contract, you should use a service that compares contracts widely between different electricity companies.
In our comparison, we divide the offer of different electricity companies from the cheapest to the most expensive, to help you easily find the best electricity contract in Finland
What is an electricity contract?
An electricity contract is a contract for the delivery of electrical energy to the place of use ordered by the customer. The electricity contract specifies the person who ordered the contract, the place of use of electricity, the price of electricity and the validity period of the contract.
The electricity contract is between the electricity company and the customer, but in addition to that, electricity transfer and electricity taxes are also added to your final electricity bill, which are billed separately from the local grid company. The prices of these are not included in the electricity contract. There are dozens of companies selling electricity in Finland, so you can easily compare the price of electricity between different companies.
Which electricity contract is the cheapest?
The cheapest electricity contract at the moment is Fortum Guarantee or Fortum Spot, depending on your consumption habits.
What happens to the electricity contract when moving to a new place?
When moving, you can transfer your current electricity contract directly to your new address. The electricity company receives information about your move when you make a move notification through the DVV Agency.
Alternatively, you can also change your contract to a more suitable one directly from the electricity company's website if the size of your apartment or electricity consumption changes.
When can the electricity contract be changed to a cheaper one?
The notice period for the contract valid for the time being is 14 days. The fixed-term contract ends after the deadline has been reached.
A fixed-term electricity contract can also be terminated, for example when moving to a new apartmen and if the contract specifically states so. If these things are met, you can switch to a cheaper electricity contract today!
What is the cheapest electricity company in Finland at the moment?
The cheapest electricity company at the moment is Fortum. Security of supply can be found in the current situation from large electricity companies, although in previous years the situation might have been different. Trusted electricity companies such as Fortum and Oomi offer affordable electricity contracts - as well as a solid business.
In 2022, several electricity companies have gone wrong, offering contracts that are too cheap in the current market situation. Examples include Lumo Energia, which went bankrupt in July, and Karhu Voima, respectively, in September. You should pay attention to the choice of electricity company. If you choose a really small, cheapest electricity company contract, the company's operations are potentially uncertain when the general market situation is difficult.
How can I get a cheap electricity transmission price?
The electricity transfer price is a part of your electricity contract that you cannot tender. The electricity transmission price is always determined according to the price list of your local electricity transmission company.
What time of the day is electricity the cheapest?
On average, electricity is the cheapest between 22:00 and 04:00 a'clock. In these hours of the night, it is good to use cheap electricity, depending on the situation, for example for charging an electric car, heating the hot water heater, or going to a sauna.
Which electricity contract should you take in 2023?
Fixed electricity contract has traditionally been the choice for the majority of Finns. In a fixed-term contract, you can lock in a fixed electricity price for the entire contract period, and you don't have to worry about competing for the electricity contract during the entire contract period.
The spot price electricity contract is the most suitable for you if you are looking for the absolute best electricity contract in Finland. However, the requirement in this case is to actively monitor the electricity market and change your consumption habits according to when the price of electricity is at its lowest.
Hybrid electricity contract offers consumers protection from electricity price fluctuations, but also the opportunity to benefit from a cheaper electricity price by changing consumption habits.
What areas does electricity consumption consist of?
- Home heating method: The largest single part of electricity consumption is the heating method of the apartment. In particular, direct electric heating is often used in single-family houses and terraced houses. The normal 20,000 kWh / annual electricity consumption of an electrically heated single-family house can cost up to €2,000 – €3,000 more, if geothermal heat is used as a comparison.
- Size of the household: The more people live in the household, the higher the electricity consumption. In a family of four, more food is prepared, laundry is done more often, and so on. However, the difference in one- and two-person households is not significant.
- Home appliances: If you live in a small apartment building, most of the electricity consumption comes from household appliances. Refrigeration equipment in particular (fridge/freezer) can produce up to more than 30% of the consumption of a small economy.
- Sauna: In an electric sauna, 50% of the energy goes to preheating the sauna, and the other half when you spend the time in sauna. An average 1.5-hour sauna session consumes about 8kWh of electricity (approx. €1.6 at a price of 20 cents per kWh). A Saturday sauna can therefore easily cost up to 1.6 euros/time. In 2011, the same reading was around €1.00. If you go to the sauna several times a week, it is significantly reflected in the electricity bill.
How is the price of the electricity contract determined?
The cheapest electricity always depends on the situation, which means that we cannot always recommend the same contract to everyone. Depending on your type of residence (apartment apartment, detached house, terraced house), there are generally huge differences in electricity consumption. There are different types of electricity contracts:
- Spot price contract: The exchange-linked electricity contract is usually based on the hourly daily market price of the Nordic electricity exchange "Nord Pool". In the exchange electricity contract, the normal exchange price, the seller's commission and the basic electricity fee are paid. Of these three, the differentiating factor of the electricity companies in terms of price is the agency fee set by the seller and the basic fee.
- Määräaikainen sähkösopimus: Määräaikainen sopimus on kestoltaan yleensä 12 tai 24 kuukautta. Sähkön hinta on kiinteä koko sopimuskauden ajan. Energiakriisin takia määräaikaisia sähkösopimuksia ei saa enää entiseen tapaan sähkönmyyjien ollessa epävarmoja markkinahintojen muutoksista.
- Electricity contract without a deadline: The electricity contract can also be valid for an indefinite period. The price of electricity (cent/kWh) and the basic fee are announced in advance. Any price changes must be notified to the customer with a month's notice.
- Electricity contract for housing association: When evaluating which electricity contract is the best option for a housing association, it is good to think about what times of the day electricity consumption peaks usually occur. Most electricity buyers typically seek certainty and cost efficiency from an electricity contract. However, this requires that the company's consumption needs are mapped sufficiently comprehensively.
Which is the best electricity contract depends on your needs. For example, the size of the apartment or the purpose of using the electricity significantly affect the choice of the right type of contract. Electricity companies offer many types of contract models, and the consumer always has the freedom to choose what suits his needs best.
In general electricity, the price is always constant. For example, the season, day of the week or time of day do not affect the price level. You should prefer public electricity if you want to know for sure how much the price of electricity is - and will be in the near future.
In a way, a contract based on public electricity gives you peace of mind, when you don't have to stress about changes in the price of electricity on the exchange.
Exchange electricity is common, perhaps the most common type of contract to date. The price of stock electricity is linked to the Nordic electricity exchange (Nord Pool). This is often also known as the "Spot price" of electricity. The electricity company's own margin is added to the Nord Pool price.
In the long run, exchange electricity has always been the cheapest option. However, the current energy crisis has changed the situation - at the moment, general electricity is probably more affordable. Nobody knows what the situation will be like a year from now.
Night electricity, daytime electricity or both combined
The price of the electricity contract can also be based on the time of day. The price of electricity is cheaper at night, and more expensive during the day. For example, washing clothes is cheaper at night, which is quite a common practice in Finnish households.
In general, this type of contract is worth choosing if, for example, large spaces can be heated at night. Or you're nocturnal. This way you can save significant amounts of money.
The best electricity contracts compared
The most popular contract type among Finns.
Market prices change quickly, so the price of electricity must still be monitored closely.
Examples of electricity contracts: apartment building, terraced house and detached house
The cheapest electricity contract is especially important in a single-family house with electric heating - but it's stupid to pay too much in other forms of living as well.
Electricity contract for apartment building unit or duplex
In small apartments, such as one-room and two-room apartments, the price of the electricity bill is on average 40 - 50 euros per month. Annual savings or losses can amount to tens, or sometimes even hundreds of euros - if the electricity contract is not the cheapest.
Most of the electricity consumption comes from household appliances, such as the fridge-freezer. Washing clothes also consumes electricity. If laundry is free in the housing association, it should be preferred in the current energy crisis.
Electricity contract for a terraced house
In a townhouse apartment, you must remember to consider the type of heating. In many housing associations, electricity is used as a form of heating, which accounts for most of the consumption.
If the terraced apartment (double room) has district or geothermal heating, the annual consumption is around 3000 kWh. Electric heating increases consumption significantly. However, a cheap electricity contract is such that the price of the electricity bill does not rise too high during the winter.
It is also worth considering sauna. The electric stove alone can add 600 to 1000 kWh of consumption each year.
Electricity contract for a detached house
Especially in a single-family house, you should always make sure that you have the cheapest electricity contract at the time. In an electrically heated detached house, the annual consumption can easily rise to 20,000 – 30,000 kWh.
If compared to a detached house with district heating, the electricity consumption can be only 8000 kWh. If you think about the most expensive form of heating, it's proven to be oil heating.
In a single-family house, the cheapest electricity contract is often temporary. It also matters whether the home has an air heat pump - it significantly lowers heating costs. Cheap electricity is impossible in the current situation, but with an affordable contract you can save hundreds of euros annually.
Helen electricity contract
The electricity company Helen OY (Helsingin Energia) is a Helsinki electricity producer and a selling energy company. You can get an electricity contract from Helen easily and reliably because they have more than 100 years of experience in the field. At Helen, you can find a high-quality selection of energy solutions and digital services, such as Oma Helen – mobile application.
Oomi electricity contract
Electricity company Oomi is one of Finland's largest electricity companies with a customer base of over 400,000 people. The people of Oomi have years of experience in the Finnish energy field, as the company was jointly founded by Vantaan Energia, Lahti Energia, Pori Energia, Oulun Seudun Sähkö and Oulun Sähkönmyynti Oy and partners. The shareholders are Oulun Energia, Tornion Energia, Haukiputaan Sähköosuuskunta, Raahen Energia, Rantakairan Sähkö and Tervolan Energia ja Vesi.
You can easily order an electricity contract from Oomi directly from their website.