Cheapest spot price electricity contract in Finland

Halvin pörssisähkö etsinnässä? Tulit oikeaan paikkaan. Pörssisähkösopimuksessa käytettävän sähkön hinta hinnoitellaan tunneittain kansainvälisessä Nordpool-sähköpörssissä.

In other Nordic countries, the exchange electricity contract is one of the most popular contract options, for example in Sweden 54% and in Norway as many as 96% of consumers choose electricity contracts when bidding for exchange electricity.

0,42snt / kWh + Spot

Where can I find the cheapest spot price electricity contract?

The cheapest spot electricity contract can be found in the price comparison below. In the longer term, the exchange electricity contract is always the cheapest option on average.

CHEAPEST MARGIN
Hehku Energia Logo

Hehku Energia Pörssi

Monthly fixed price: 1,90€
Contract type: until further notice 
0,42snt / kWh + Spot
Nordic Green Energy

NGE Ilmasto spot price contract

Monthly fixed price: 3,99€
Contract type: until further notice 
0,45snt / kWh + Spot
Fortum

Fortum Tarkka spot

Monthly fixed price: 4,90€
Contract type: until further notice
0,59snt / kWh + Spot
Väre

Väre spot price contract

Monthly fixed price: 4,95€
Contract type: until further notice
0,72snt / kWh + Spot

What is spot price electricity?

Spot price electricity, also known as market-priced electricity, is an electricity pricing model where the price of electricity varies according to the prices of the electricity exchange. In this model, the price of electricity paid by the consumer follows the electricity market prices, which can vary hourly. There are many factors that affect the price of electricity on the exchange, including supply and demand, production costs, weather conditions and political decisions.

Spot electricity pricing - How does exchange electricity work?

Stock exchange electricity means the purchase of electricity from the electricity exchange, where the price of electricity is determined based on supply and demand. Electricity exchanges are open marketplaces where electricity producers and buyers can trade.

The price of exchange electricity varies constantly. In the pricing of exchange electricity, spot pricing is followed, which is based on the hourly prices determined by the electricity exchange. The spot price is determined based on supply and demand. In addition to this, the price of the exchange electricity contract is also affected by the electricity transfer price, electricity tax and other possible fees.

The price of stock electricity can vary significantly at different times depending on the day, week and year. For example, the demand for electricity in Finland is highest on cold winter mornings, when the price can be high. Similarly, on sunny and windy days, when the production of renewable energy is high, cheap electricity is common.

Some electricity providers, such as Fortum, offer price guarantees as additional services, with which you can lock in the price of electricity on the exchange for a certain period of time. The price guarantee reduces the price risk that is included in even the cheapest exchange electricity contracts.

Nordpool electricity exchange

The Nordpool electricity exchange is the basis of the Nordic and Baltic exchange electricity contracts, where hourly electricity prices are determined according to supply and demand. In the exchange, electricity sellers, i.e. producers, and electricity buyers, i.e. sales companies, agree on electricity prices for each hour, so that the price is up-to-date and in line with the market.

Electricity exchanges are important actors in the energy market because they enable the electricity price to be flexible according to the market situation. They also promote competition and efficiency in the electricity market.

  1. On a daily basis: The price of electricity is affected by demand fluctuations at different times of the day. Electricity usage is at its peak in the evenings, when prices rise. At night, the demand for electricity is lower and the exchange price is cheaper.
  2. Annually: Climate and weather conditions are factors that affect electricity price changes. For example, on freezing days, the demand for electric heating increases, which leads to an increase in the price of electricity.
  3. In the broader picture, both inflation, Finland's energy trade and world politics affect the price of electricity on the exchange.

Electricity companies try to evaluate the electricity price development and price the fixed-term electricity contracts accordingly. The customer who chooses the exchange electricity contract bears the risk of the electricity price increase, but also benefits from price reductions.

Spot price electricity- how is the price formed?

In exchange electricity contracts, you pay the energy price in addition to the basic monthly fee. The basic fee is currently between 4.5 and 6 euros for most of the electricity companies. The energy price portion, on the other hand, is calculated based on electricity consumption and the corresponding electricity exchange spot price. In addition to these, the price includes a margin per kwh and value added tax.

Find the cheapest margin for exchange-traded electricity - prices differ between electricity companies even for exchange-traded electricity

The price of exchange electricity varies hourly and is based on supply and demand in the electricity market. This means that the consumer pays a price for electricity that corresponds to its current market price. Exchange electricity margin refers to the price difference that the electricity seller adds on top of the exchange price in order to cover his own expenses and earn a profit. This margin may vary between different electricity sellers. The margin usually covers the electricity seller's management costs, customer service, invoicing and any other services that the electricity seller offers.

Who offers the cheapest exchange electricity? You can find the cheapest exchange electricity by comparing

When you are looking for the cheapest exchange electricity, comparison sites such as sähkösopimukset.com come to your aid. Although the price differences between the companies seem nominal, a few cents per kwh price difference can affect your bill by up to a few hundred euros per year. Also research what other benefits the electricity companies offer, so that the exchange electricity contract you choose is the most affordable in all respects.

Exchange electricity contract for the company

With our help, you can find the exchange electricity contract for the company. Right now, the best exchange electricity for the company is Fortum Tarkka. Fortum also offers the cheapest fixed-term electricity contract for a company at the moment, Fortum Varma.

Is a spot price contract a good deal in 2024?

At the moment, exchange electricity is worth it. The price of electricity on the exchange is now low, and the electricity companies have not reduced the price of fixed-term electricity contracts at the same pace, so that we would recommend it . However, if you estimate that the price of electricity will skyrocket like 2022's fall, a fixed-term electricity contract may be a good choice. Then you will have a fixed-price electricity contract for a certain period of time. Exchange electricity is worthwhile if you want to actively pay attention to electricity consumption.

Exchange electricity or fixed 2024?

Which will you choose, exchange electricity or a fixed electricity contract in 2024? The price of electricity varies all the time. In the long run, the exchange electricity contract has been more affordable. If, however, you don't need additional stress from price fluctuations in your everyday life, and you don't have the time to monitor or the interest to optimize your electricity consumption according to the electricity exchange, then choose a fixed electricity contract. Then you lock in the same kwh price for a year or two. A cheap exchange electricity contract is, however, usually cheaper in the long run

To whom are spot price contracts not suitable to?

Pörssi electricity contracts are not suitable for you if you are tired of being charged and you want to lock the same price for a year or two. Then choose a fixed-term electricity contract. Note, however, that it binds you for a longer period of time, unless you are prepared to pay a contract penalty, which varies in size, but will definitely feel in your wallet. Termination of the exchange electricity contract usually takes effect within two weeks. That is why it is also known as an open-ended electricity contract.

Best spot price electricity contract - TOP 3

The best exchange electricity is not always the same as the cheapest exchange electricity. However, when we look at the most recent year, the contract terms have been pretty similar for exchange electricity, so price is by far the most important factor. On this basis, the best exchange electricity is

🥇 Nordic Green Energy Ilmasto

🥈 Fortum Tarkka

🥉 Väre Pörssisähkö

You should ask for an exchange electricity offer from different electricity companies

Due to different electricity transmission prices and margins, every exchange electricity offer is not the same. Also, remember to read the other terms of the contract, whether the exchange electricity contract is binding for a longer period of time, or only valid for the time being, in which case you can get a new electricity contract with a two-week notice period.

Spot price comparison - Compare exchange electricity contracts

Comparison of spot price contracts can be done easily with the help of our comparison tool. Just enter your zip code and estimated annual consumption, and you'll find an affordable electricity exchange just for you. However, if you are interested in a fixed price contract, that too can be found with the help of the machine.

Pros & cons of a spot price contract

Pros
  • Opportunity to save money! Exchange electricity can be a cheaper option than a fixed-price electricity contract, especially when the market price of electricity is low. Consumers can take advantage of price fluctuations, for example, by shifting electricity consumption to more favorable times.
  • Better environmental awareness: The price of electricity on the exchange usually reflects the real costs and environmental effects of electricity production. For example, as the production of renewable energy increases, the price of electricity decreases, which can encourage consumers to choose more environmentally friendly solutions.
  • Monitoring market prices: The price of electricity on the exchange is determined according to the market price, so consumers have the opportunity to monitor the development of the electricity market and make more informed choices regarding their electricity consumption.
Cons
  • Price fluctuations: The price of electricity on the exchange can vary significantly even in a short time, which can make the electricity bill difficult to predict. Especially on cold winter mornings or in connection with power outages, the price can become high.
  • Unpredictability: Although exchange electricity can offer savings opportunities, its price is more difficult to predict than a fixed-price contract. This can cause uncertainty for consumers who want to keep their electricity bills even.
  • Requirement for activity: Using an exchange electricity contract often requires active monitoring and adjusting electricity consumption according to price fluctuations. This can be time-consuming and require focus on the electricity market.

Exchange electricity can offer significant savings, but its downside is the unpredictability caused by price fluctuations. You should weigh the advantages and disadvantages according to your own situation and needs before choosing a stock exchange electricity contract.

Compare spot contracts and save money!

How much money can you save by comparing exchange electricity contracts? It completely depends on your electricity consumption, but here are a few illustrative examples when you save an average of 8 cents/kWh of electricity by comparing.

Studio, annual consumption: 1,600 kwh
You save per year: 128 euros

Three-room apartment, annual consumption: 2,500 kwh
You save a year: 200 euros

120 m2 detached house with sauna, annual consumption: 7,000 kwh.
You save per year: 560 euros! 🏆

Exchange electricity experiences

We collected consumers' experiences with stock exchange electricity and you can read the summary below.

Positive experiences

Savings in the long run: Many users report that exchange electricity has brought significant savings in the long run. Especially those who are ready to adjust their consumption according to the price have benefited from the low market prices.

Active consumption management: Exchange electricity users feel that they have learned to better understand their own electricity consumption and have learned to manage it more actively. In many cases, this has led to more environmentally conscious behavior.

Negative experiences

Price fluctuations: Some users feel that the price fluctuations of exchange electricity make financial planning difficult. Especially in the cold months, when electricity consumption is the highest, price increases can surprise you.

Demanding monitoring: Constantly monitoring the price and adjusting consumption requires time and effort. For some, this has proven to be too much work.

Expert's view

According to energy experts, exchange electricity can be a good option for customers who are ready to actively monitor the market and adjust their consumption. It is important to remember that market prices can vary a lot, and the electricity bill can rise significantly during the cold winter months.

Spot price contract in the future

Innovative solutions and more sustainable energy 

In the future, the exchange-traded electricity market will probably develop even more dynamically, and new energy sources and smart solutions can significantly change the structure of the electricity market.

Renewable energy sources and decentralized energy production.

One of the most significant changes in the exchange electricity market is the shift away from fossil fuels towards renewable energy sources such as solar, wind and hydropower. Decentralized energy production, where energy is produced from smaller, local sources, will probably become more common, which can increase the price fluctuations of stock exchange electricity, but at the same time also improve the security of energy supply and reduce dependence on centralized power plants.

Smart exchange electricity grids and energy storage

The future electricity market will make even more use of intelligent electricity networks, which are better able to balance the demand and supply of electricity in real time. Energy storage solutions, such as the development of battery technology, will play a central role in improving the functionality and stability of the electricity market, especially when an increasingly large part of electricity production is based on weather-dependent renewable energy sources.

Exchange electricity demand vs. supply

In the electricity market of the future, consumers can be even more active players who participate in balancing the electricity market, for example by reacting to price signals and adjusting their own electricity consumption. An increase in demand flexibility can help smooth out price fluctuations in the electricity market.

6 tips for choosing a spot-price contract

Compare electricity companies

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Get to know the exchange electricity contracts offered by different electricity companies and choose one that meets your needs and wishes. Pay attention to the contract terms, reviews, service level, and customer support.

Estimate your electricity consumption

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Keep in mind that exchange electricity is not necessarily the best option for everyone. If your electricity consumption is relatively constant and you want to avoid the uncertainty caused by price fluctuations, a fixed-price electricity contract may be a better option.

Combine it with a fixed price

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In some cases, it may make sense to also combine a fixed-price portion with the exchange electricity contract, which covers, for example, transfer fees or basic fees (such as Fortum Price Guarantee).

Follow the weather forecast

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Weather conditions affect the price of electricity, so following weather forecasts can help you understand when the price of electricity may be higher or lower. 

Energy saving

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The purchase of exchange electricity encourages energy saving, because price fluctuations make electricity consumption more cost-effective. Try to find ways to reduce electricity consumption at home and at work, for example by turning off devices when not in use.

Use smart devices and applications

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Smart home devices such as thermostats, lighting systems and energy management apps can help monitor and manage electricity consumption in real time. 

Finland's Best Electricity Contracts Comparison Site - Nothing More Than That.

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Fortum
Nordic Green Energy
Väre
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