Spot Smart – spot-price electricity and price locking in one contract

The pricing of spot electricity contracts consists of:

• a fixed basic fee € per month
• an electricity market price, also known as the spot price, in cents per kWh
• a margin, i.e. the commission in cents per kWh

In addition, 25.5% VAT is added to the spot price.

The market price of Vaasan Sähkö’s Spot Smart is set in the Nord Pool energy exchange of the Nordic countries, specifically based on the regional price in Finland. On the Nord Pool electricity exchange you can see the 15-minute prices for the next day, allowing you to plan your electricity usage in advance. Keep in mind that the prices shown on the Nord Pool exchange do not include value-added tax or the margin included in your spot-electricity contract.

Trading in Nord Pool also brings costs for the electricity supplier. We have included these in the basic fee of the contract.

The spot price can be positive (more than 0 cent/kWh) or negative (less than 0 cent/kWh). When the spot prices are negative, your electricity price will the spot price + commission.

VAT is always added to the spot price on Nord Pool.

The energy price (cents per kWh) of your spot-electricity product changes every 15 minutes.

On your electricity bill, you will only see the actual monthly spot average price, which is weighted according to your electricity consumption. Because of this, the average price varies with each invoice.

The basic fee for spot electricity (the monthly price) and our billed margin (the commission) are more stable. If you intend to change them, we will inform you well in advance so that you can terminate your contract if you wish before the new price takes effect.

The average price depends on the cost of the 15-minute intervals during which you use electricity at a given location and how much has been consumed during each of them. It is typical for exchange electricity that some quarter-hours are more affordable than others. The average price of your contract depends on whether your electricity consumption takes place during cheaper or more expensive times.

If you use electricity in multiple locations, each with an exchange electricity contract, the actual average price is likely to be different for each of them.

Therefore, the average price is based on the consumption of each individual location, which varies and is unique. This also enables you to lower the average price of your contract by controlling how much electricity you use and when.

Follow the average price in the app

The price of exchange electricity showed on the invoice is the average price for the entire month. In the Vaasan Sähkö app, you can easily see the actual average price for the past month. If you are interested in the average price for the current month, you can also track it in the app. If doing so, please note that the final average price is determined only after the end of the respective calendar month.

Our Spot Smart is particularly suitable when you are able to adjust and plan your electricity consumption, and you want to monitor how electricity spot prices develop.

In an apartment in a multi-story building, there may not be many opportunities to shift electricity consumption to times when it is cheaper. On the other hand, you can keep an eye on your electricity consumption and save money regardless of the type of electricity contract you have. If your home’s electricity consumption is low, with spot electricity you can potentially get electricity at a lower cost than with a fixed-rate contract.

In an apartment building, you can reduce your electricity consumption and save a significant amount of money by:

• turning down the underfloor heating in the bathroom
• choosing the sauna time based on electricity prices. It’s sensible to use the sauna as soon as it’s hot enough so that it’s not on for too long.
• doing laundry and wash dishes when the electricity price is low
• turning off devices that are on standby.

If you have an open-ended contract, you can change to another contract after a 14-day exchange period.

Our indefinite-term contracts include Basic Electricity, Wind Power, Spot Smart, and Exchange electricity Wind.

Yes, you can! Spot electricity is available for all metering types for the same price. NB! When ordering, select “Basic electricity” as the metering type.

Your local power grid company will bill you for electricity transmission in accordance with the metering type specified for your address regardless of this.

Our spot electricity is produced without any CO2 emissions generated in the production phase. Exchange electricity Wind is 100% renewable energy. Their origin is verified with guarantees of origin (GO). 

The charges for a spot electricity contract will be calculated and invoiced after use, in accordance with the actual consumption of electricity and spot prices. A separate price is determined for each 15-minute period of the month. Despite this, you will only see the average spot price for the month on your bill in accordance with your electricity consumption. Since a month consists of nearly 3,000 15-minute periods, it would be somewhat of a mess to report all of them on the bill.

However, in our app you can also afterwards check the price you have paid for every single 15-minute period.