Price fixing terms

By making a price fix, the customer agrees to the following terms.

Making Price Fixings

The customer can make price fixes in the seller’s electronic service. Price fixes are made for an agreed period before the start of the delivery month. As part of the price fix, the customer purchases the same amount of electricity for every quarter-hour of the fixed month. The maximum level for price fixes is the forecasted average monthly electricity consumption. Price fixes are advance price protections where the customer purchases an agreed amount of electricity in advance for an agreed period at an agreed price.

Fixed-Term Commitment

After making a price fixing, the agreement becomes fixed-term. The last validity date of the agreement is the last day of the last fixing period. After the fixed term, the agreement continues as an open-ended Spot agreement.
The agreement cannot be terminated during the fixed-term period. If the metering point is decommissioned (e.g. moving out), a consumer cannot transfer fixings to another metering point.

Exception: if the Seller changes its margin for reasons other than changes in Fingrid’s balancing service fee, taxes, authority fees, or similar charges, the Customer has the right to terminate the agreement with 14 days’ notice. If the Customer has existing price fixings, they remain responsible for them. In case of termination due to a margin change, the Seller and Customer agree on invoicing the remaining market value. The market value is the difference between the fixing price at the time of execution and the price at the time of termination, multiplied by the fixed volume.

Fixings can only be cancelled in accordance with Terms of Electricity Sales 2024 (section 10.2.5) in cases where consumption changes due to reasons outside the Customer’s control.

Binding Nature of Fixings

Made fixings are binding and cannot be cancelled.

Waiver of Right of Withdrawal

By making a fixing, the Customer waives the 14-day right of withdrawal otherwise applicable from the conclusion of the agreement.

Price Information

The average prices of made fixings are available in the Seller’s online service.

End of Supplier Obligation

If the agreement falls under supplier obligation, this obligation ceases once the agreement becomes fixed-term through a price fixing.

Formation of Billing Price

The electricity price is determined based on a combination of actual consumption, Nord Pool Finland area Spot prices, the Seller’s margin, Fingrid’s balancing service fee, and the made fixings. Current VAT is added.

Price calculation is based on the pricing period used by the seller, for example 15 minutes. If price fixes have been made but consumption exceeds the fixed amount, the portion exceeding the fixed amount is priced at the Nord Pool Finland price area Spot price.

If consumption is below the fixed amount, the unused energy is charged to or credited to the customer. A charge applies if the fixed price is higher than the Spot price. A credit applies if the fixed price is lower than the Spot price. The charge or credit is based on the difference between the Nord Pool Finland price area Spot price and the fixed price.

Acceptance and Responsibility of Consumption Forecast

The Customer accepts the current consumption forecast when making a fixing and is responsible for its accuracy. Errors may significantly impact billing and cause financial consequences. The Customer must immediately contact the Seller if errors are detected. The forecast is updated automatically during the contract period, based on actual consumption and possibly exceptional winter months.

Customer Responsibilities

The Customer is responsible for all fixings and their financial consequences. Any errors in fixings or related data must be reported immediately to the Seller. The Customer is responsible for keeping contact details up to date.

By making a fixing, the Customer declares not to have agreed on electricity purchases with another seller for the same periods. If overlapping contracts exist, the Seller has the right to charge all resulting costs of termination. These costs equal the difference between the fixing price at the time of hedging and the fixing price at termination, plus an hourly charge according to the Seller’s price list.

Order of Precedence of Agreement Terms

In case of conflicting terms, the following order applies:

1) Agreement Terms
2) Fixing Terms
3) Terms of Electricity Sales 2024

Disclaimer

The Customer is responsible for all assignments carried out for them and the financial risks associated with them. The Seller is not liable for any errors in the information provided to the Customer, nor for any decisions or damages arising therefrom.