HS’s calculator allows you to compare your own electricity contract with other available options. With the rising exchange electricity prices, it’s now more important than ever to make informed decisions about your energy consumption. On Tuesday, the price of electricity on the exchange reached as high as 96.4 cents per kilowatt hour, but at an average price of 35.7 cents per kilowatt hour for the day. This increase is due to a combination of factors, including weak wind power production and the interruption of electricity production in the third unit of the Olkiluoto nuclear power plant.
According to TVO’s estimate, electricity production will resume in the Olkiluoto nuclear power plant on Tuesday afternoon. The price of electricity on the exchange can fluctuate significantly, with prices sometimes even being negative. However, companies have been able to obtain electricity at a lower price by scheduling their use during favorable hours. In November, exchange-traded electricity has been more expensive compared to earlier in the year, with an average price of 9.4 cents per kilowatt hour in November compared to 4.7 cents in October and 4.1 cents in September.
The cheapest fixed-price contracts are currently even slightly cheaper than they were when HS last compared them earlier this month. Contracts with different time durations also offer varying prices for electricity, so it’s important to do your research before making any decisions about your energy consumption or signing new contracts with your network company or other providers. The consumer has the option to terminate current contracts or switch them out for new ones with a two-week notice period if they find better deals elsewhere on the market.
In particular, by scheduling their use of electricity during favorable hours and taking advantage of low fixed-price contracts, exchange-traded electricity companies have been able to obtain lower prices than other contract types during these early months of winter.
To help you compare your own contract with available options and make informed decisions about your energy consumption and pricing options, HS has provided a calculator that takes into account all relevant factors such as transfer pricing and taxes based on consumption rates.