Electric|During the heating season, many electricity users think about protecting the price of electricity with fixed contracts. These are the offers now.
Exchange electricity has been expensive at the beginning of October. The average price including taxes has risen to more than 16 cents per kilowatt hour on the first five days of the month. The expensive price is explained by the low wind power production and the production interruption of the second unit of the Olkiluoto nuclear power plant.
During the heating season, many electricity users probably think about protecting the price of electricity with fixed contracts. What are the temporary electricity offers like right now?
In the cheapest fixed-price contracts, electric energy now costs just under nine cents per kilowatt hour, according to the Energy Agency from the electricity price comparison service. The price information was retrieved on Friday evening.
For example, Cheap Energy offers no less than a three-year fixed-price contract at a price of 8.65 cents per kilowatt hour. In the company’s two-year contract, the price is 8.79 cents per kilowatt hour.
Koillis-Satakunna Sähkö (8.75 cents/kWh) and Hehku (8.80 cents/kWh) also have approximately the same price contracts. The monthly fees charged by the companies vary between 3.5 euros and just under six euros.
If committing to a two-year contract seems like too long, in shorter contracts the prices go up a bit.
In the cheapest annual contracts, the price of electricity rises to nine cents per kilowatt hour. In Turku Energia’s contract, the price is 9.15 cents per kilowatt hour, and Oomi’s is 9.17 cents per kilowatt hour.
In exchange electricity, the price fluctuation is usually the biggest in the winter months, when the price spikes can become wild from time to time. One option to protect yourself from the highest hourly rates is to take a fixed contract only for the winter months. However, in contracts shorter than a year, the prices will rise to more than ten cents per kilowatt-hour in the run-up to winter.
In the cheapest six-month fixed contract, electricity now costs 10.40 cents per kilowatt hour. The contract is offered by Hehku Energia. Cheap Energy also offers a three-month fixed contract, where the price rises to 12.99 cents per kilowatt hour.
More and more fixed-term contracts today are so-called hybrid contracts. In them, the basic payment for electricity is slightly cheaper than fixed contracts, at the cheapest a little less than eight cents per kilowatt hour. In these contracts, the timing of electricity use can either increase or decrease the final price. Typically, electricity companies state that the share of the flexibility feature in the price is +/- 1.5 cents per kilowatt hour.
Although exchange electricity has been expensive in recent days, the average price of exchange electricity for the entire beginning of the year is significantly cheaper than fixed contracts.
The taxable average price of stock exchange electricity for the whole year has so far been around 6 cents per kilowatt hour. On top of the exchange price, the companies charge a margin for exchange electricity, which at its most affordable is around 0.4 cents per kilowatt hour.
Especially in electrically heated homes, it is difficult to schedule consumption in such a way that with exchange electricity you can reach the average price or below it.
Despite this, exchange electricity is often considered to be the cheapest option. Battery startup Rebelvolt, for example, came to this result after comparing electricity contracts with the actual consumption data of different households. I got the same result HS compared exchange electricity for fixed contracts last January.
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