Fortum Tarkka - spot-priced electricity

In spot-priced electricity contracts, the price per kWh of electricity can change every hour, hence the name "hourly priced electricity". A price for each hour is locked in during the previous day's auction at the Nordic electricity exchange, NordPool.

The price depends on many factors, such as the amount and methods of electricity production and the electricity consumption of homes, public entities, and industry over the next 24 hours.

The price is also influenced by the market prices of raw materials needed for electricity production and the amount of water available. In particular, the situation of Norway's water reserves has a strong impact on electricity prices in the Nordic countries. For example, winters with little snow or summers and autumns with little rain can lower water reserves, which raises the price of electricity.

You can follow the hourly rates of our spot-priced electricity contract, Fortum Exact, from our website under the "today" section. The prices for the next day usually update around 3 PM.

You can view the general fluctuation of price levels from the same page under the "months" section. Please note that these prices do not include brokerage fees, but they do include value-added tax.

You can also see the spot-priced electricity rates on the Oma Fortum service and app.

Just like with a fixed-price electricity contract, you are billed for your electricity usage with spot-priced electricity. However, unlike fixed-price contracts, the kWh prices for spot-priced electricity can vary, even hourly.

The hourly spot prices are supplemented with the electricity seller's brokerage fee and taxes. You also pay separately for electricity transmission. Read more about billing. 

Cold weather typically raises electricity prices. Likewise, if energy production decreases for one reason or another. 

Spot-priced electricity is usually cheapest during the warmer seasons, at weekends, and at night, when electricity consumption is generally lower.

Spot-priced electricity is based on an hourly rate determined through competition in the Nordic electricity exchange. When electricity prices change, the price of spot-priced electricity reacts first: when prices drop, the price of spot-priced electricity also drops, and vice versa.

By timing your electricity consumption, you can take advantage of price fluctuations throughout the day. For example, you could try to use more electricity or schedule operations for when prices are low, and reduce consumption when prices rise.

The price of spot-priced electricity can change even on an hourly basis. You can conveniently follow the hourly electricity prices on our website and in the Oma Fortum app.

Ordering spot-priced electricity suits you if you want to actively monitor and manage your own electricity consumption. If you're interested in watching the fluctuations in electricity prices and want the opportunity to take advantage of lower prices, spot-priced electricity could be a good option for you.

However, remember that the price of spot-priced electricity can vary quite a bit throughout the day, so you need to be prepared to take the risk of possible price fluctuations.

If you prefer stability in your electricity bill, you should choose either a monthly billed electricity contract, which suits homes with low electricity consumption, or a fixed-price electricity contract. Fortum Vakio contracts are based on a fixed monthly price. Fortum Duo contract has a fixed 24-month electricity kWh price based on the time of signing the contract, plus a consumption effect based on the spot price of electricity. For about 90% of our Duo customers, the effect has been an average of +- 2 cents / kWh.

The price of spot-priced electricity is based on the market price. The electricity spot price is determined by supply and demand in the NordPool electricity exchange in Europe. This price is set separately for each hour, for the following day. As a consumer, you pay the spot price in addition to electricity taxes and the seller's brokerage fee.

When you fix the price of electricity, you can reduce the price risk associated with spot-priced electricity contracts.

Fortum Hintatakuu (price guarantee) is an additional service for the Fortum Tarkka spot-priced electricity contract, which allows you to temporarily fix the price of electricity for one month at a time by accepting the next month's Hintatakuu fixed price offered on the first Tuesday of the month. Add the service in your order or later in Oma Fortum.  

The Nord Pool electricity exchange is moving to quarter-hour trading periods. This means that instead of the current hourly pricing, electricity prices will change more frequently in the exchange. At this stage, there are no changes coming for customers with an spot-priced electricity contract.

The idea behind quarter-hour pricing of electricity is to support the green transition and improve the management of price fluctuations due to the increase in weather-dependent production. For those living in apartment buildings or homes with district heating, the change is unlikely to have a visible impact, and timing electricity consumption during cheaper periods will continue to offer opportunities to save on electricity bills.

As the measurement and pricing periods become more precise, prices will vary more frequently. This change in itself does not raise prices; on the contrary, electricity companies will be able to adjust the system's balance even better.

Home automation with electric heating and electric vehicles charging at home will continue to enable a more even distribution of electricity consumption and pricing at different time