Fortum – Intro, electricity contracts & experiences

Fortum electricity contracts

Fortum Duo

Fortum Duo is a 24-month fixed-term electricity contract, which offers the customer the opportunity to optimize their electricity use and save on costs.

Best fit: This deal is ideal for customers who want to take advantage of the timing of their consumption and control their costs more precisely.

Fortum Tarkka

An agreement valid for the time being, where the price of electricity varies hourly according to the electricity on the exchange.

Price: Pricing is based on the spot price of electricity, which changes constantly.
Best suited: Suitable for customers who actively follow the electricity market and want to take advantage of price fluctuations.

Fortum Vakio S & M

Fixed price contracts that offer stability to the electricity bill. Standard S is intended for smaller apartments, Standard M for larger apartments or apartments with saunas.

Best suited: Suitable for consumers who value predictability in their electricity bill and want to avoid price fluctuations.

Fortum Kesto

A contract valid for the time being, the price of which adjusts to market fluctuations. Offers 100% carbon dioxide-free electricity and the option to choose 100% renewable or solar energy.

Best suited for: Customers who want flexibility and are interested in environmentally friendly energy options.

Fortum Yritys Varma

Fixed-term, fixed-price contract for companies. Provides predictability and stability regarding the price of electricity.

Price: Not mentioned. Pricing is based on fixed contract terms.
Best suited for: Companies that want stable electricity procurement costs and support environmentally friendly energy.

Fortum electricity price

The competitiveness and pricing of Fortum's electricity contracts compared to other providers are versatile, and the price level of the company's electricity contracts is generally in line with the market average. 

Of the electricity contracts offered by Fortum, exchange electricity is often the cheapest option in the long term, as its billing is based on electricity spot prices . In addition, Fortum offers fixed-price electricity contracts and package contracts in which the customer pays a certain fixed monthly price, which includes a predetermined amount of electricity​​.

When competing for the cheapest electricity contract, it is important to take into account, among other things, the total consumption of the economy, the type of contract (exchange electricity, fixed-term contract, indefinite contract), as well as the basic price of the contract, i.e. monthly payment and kWh prices. A stock exchange electricity contract can be the cheapest in the long run, but a fixed-term contract offers a more reliable and predictable price. The electricity contract valid for the time being offers maximum flexibility, but prices can change with a month's notice.​​​​

Fortum has established itself as a major player in the electricity market, and although it is often among the low-cost electricity companies, it is not always the cheapest option. Competition helps to find the best offers on the market and the most suitable electricity contracts. It is also important to note that the costs related to the electricity contract can vary, and by tendering the contracts, you can find the option that best suits your situation​​.

Fortum customer service

In Fortum's customer service, you can meet a digital assistant that resembles Microsoft's nostalgic Clippy - but in the era of electronic transactions. This cool virtual assistant named Milo greets you with a smile (or a pixel in a pixel) and offers help with bills, contracts and energy consumption questions.

Milo can, for example, check whether more payment time can be given to your electricity bill, and make the change if you wish. If Milo can't answer your question or fulfill your request, it transfers the conversation (Mon-Fri 9am-5pm) to a customer advisor.

However, you get a quick, high-quality connection with the right people. You can also contact Fortum's customer service by mail: Fortum Asiakaspalvelu Oy, PO Box 100, 00048 FORTUM.

What is Oma Fortum?

 Oma Fortum is a digital service offered by Fortum that enables customers to easily access their electricity contracts and energy consumption information.

Users can: 

• View and manage your invoices
• Follow energy consumption in real time 
• Create a notice of move 

The service also offers tips on energy saving and enables contact with customer service. The service is logged in with online banking credentials or a mobile certificate, which guarantees safe use.

Fortum's history 

Fortum's history begins in 1932, when its predecessor Imatran Voima (IVO) was founded to manage the Imatrankoski hydropower plant in Imatra. Over the years, IVO acquired and built numerous other power plants, such as the largest hydropower plants along the Oulujoki river, the coal-fired power plants in Inkoo and Naantali, and the Loviisa nuclear power plant.

In 1998, Fortum was born through the merger of IVO and Neste Oy, Finland's national oil company. This gave birth to a new energy group whose main business was focused on the Nordic countries and which was listed on the Nasdaq Helsinki stock exchange.

In 2004, Fortum split in two, when the oil business was transferred to Neste Oil, and Fortum focused on electricity and heat production. With rapid growth, Fortum achieved a dominant market position, which has led to actions by competition authorities and various regulations regarding the company's operations.

In the 21st century, Fortum has focused more and more on renewable energy, such as hydropower and solar energy.

Fortum has also sold its shares in various companies, such as the electricity network company Fingrid and its own electricity distribution network in Finland, which was sold to Suomi Power Networks (later called Caruna). 

The company has also been active in international markets, for example by investing in solar power plants in India and developing cooperation with Rosatom and Rolls-Royce Engines in the area of ​​nuclear power.

Recently, Fortum has made major changes in its strategy, including the transfer of assets located in Russia to external management by decree of the Russian President in response to the seizure of Russian assets in Europe, which led to losses for the company.

Fortum - termination of contract

Fortum's electricity contract can be terminated by contacting customer service. The process includes the management of possible refunds and unpaid invoices. Customer service ensures contact information and smooth transactions before the end of the contract. 

The contract can also be terminated online in connection with a move notice or when transferring the contract to a new address. The contract valid for the time being can be terminated at any time, and Fortum receives information about the change of vendor directly from the electricity network company. More information and instructions can be found on Fortum's website.