Price lock – Secure a price level that suits you
As a spot-price customer, you can lock the electricity price for your chosen periods in advance, without extra fees.
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Price lock Spot price Offer!
Spot Smart
The price is based on spot pricing: save by timing your electricity use. If you wish, you can lock in your price for the months of your choice. Smart Home app as a customer benefit.Until further notice
0,48
c/kWh
+ Spot priceBasic charge:
4,90
€/month
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Price predictability
Minimize price risks and protect yourself against price peaks. When locking a price, you know the price level in advance.
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You decide when
You decide which periods to lock. Outside of the price lock periods, your price is based on the spot market prices.
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No extra fees
Our price lock service is included in your spot-price contract without extra fees.
This is how the total price is formed
The lock price stays the same during the whole price lock period. The final energy price, however, varies according to your own consumption.
Lock price
The energy price you have locked stays the same during your chosen price lock period.
Consumption impact
Your energy price can go up or down depending on when you consume electricity. For 90% of our customers, the variation amounts up to +/- 2 c/kWh.
Margin
A margin for you spot-price product is added to the energy price.
Basic charge
The fixed basic charge of the spot-price product, that is not affected by the consumption.
This is how it works
1. Monitor the price development
Use the price lock service to see what kind of price locks you can make for upcoming time periods. The lock prices are constantly changing, so you should actively monitor the price development.
2. Make a price lock for a suitable time period
When the price feels right, you can make a price lock with a few clicks.
You can lock one month or quarter at a time, up to three months or four quarters. The quarters available for price locks are:
- January–March
- April–June
- July–September
- October–December.
You can make a price lock for an individual month at the earliest three months and at the latest 36 hours before the price lock period begins. For quarters, you can make a price lock for one or more of the next four quarters, at the latest 36 hours before the price lock period begins.
3. The price is now locked
The price lock is now confirmed and the locked price will take effect at the start of the price lock period.
Your contract immediately becomes fixed-term when you have confirmed the price lock period. The validity of the fixed term lasts until the end of the last price lock period. You cannot cancel the price lock.
4. Save even more by timing your consumption
Consumption impact allows you to reduce your electricity bill by timing your consumption to the moments when spot-price electricity is cheapest. However, you should bear in mind that consumption impact works both ways, so it can also increase your bill if your consumption occurs when spot prices are high. You will see the outcome at the end of the month.
When should I make a price lock?
- Well in advance in the autumn, because the prices usually go up in the winter.
- When the market price is going down and one can expect it to go up soon again.
- When the price level feels right for you.
Please note
- The price lock becomes binding when you have confirmed it.
- Your contract immediately becomes fixed-term until the end of the last price lock period.
- After this, your contract continues again as open-ended.
- No extra fees are applied.
Frequently asked questions about price locking
What is the difference between Exchange Electricity and Spot Smart?
There is no difference in the pricing of the contracts: the margins and basic fees are exactly the same for both contracts.
However, with Spot Smart, the additional price locking feature allows you to lock the electricity price for periods of your choice.
I have an Exchange Electricity contract, how can I view the prices and make price locks?
If you have an Exchange Electricity or Exchange Electricity Wind contract with us, you first need to switch to a Spot Smart contract. Once you have switched, you can immediately view the lock prices.
Which contract do I need to have to monitor the lock prices?
The available lock prices are only visible to Vaasan Sähkö customers with a Spot Smart contract.
If you have an Exchange Electricity or Exchange Electricity Wind contract, you can change to Spot Smart. After the switch, you will immediately be able to view the prices and make price locks.
I want to see the prices before switching contracts. What should I do?
The lock prices are only available to customers with Spot Smart. However, you can switch to Spot Smart even if you don’t want to make price locks.
The contract works like a standard spot electricity contract, and you can decide whether and when you want to use price locking.
How often do the available lock prices change?
The prices can change as often as once per minute on weekdays from 9 a.m. to 5 p.m. In the price lock service you will have 10 minutes to confirm your chosen price.
Prices do not change in the evenings, on public holidays or at weekends.
How do I log into the price lock service?
To log into the service, use the same credentials that you use for our online service and mobile app. Presently, you can log into the service via our Price lock site.
The lock prices are only visible to Vaasan Sähkö’s customers with a Spot Smart contract.
When can I make a price lock?
You can make price locks at a monthly level for the next three months or at a quarterly level for the next four quarters of the year.
You must lock the price no later than 36 hours before the start of the period. After that, you can no longer make a price lock for the period in question.
How much of my consumption can I price lock?
You can lock 100% of your consumption for your chosen time period.
How is Spot Smart generated? Can I choose wind power?
No carbon dioxide emissions have been generated in the production of Spot Smart. Wind power cannot be selected separately as the generation method.
If you want electricity generated with wind power, we recommend the Exchange Electricity Wind Power contract.
What are lock prices based on?
Lock prices are based on the prices of electricity derivatives for different delivery periods (e.g. January 2027 or Q2/2027).
Market prices are updated continuously on weekdays from 9 a.m. to 5 p.m. This means that prices in the price lock service can also change as often as every minute on weekdays.
The closing price is the price level for each delivery period at the end of the trading day.
In the evenings, on public holidays and at weekends, you can therefore lock your price at the latest closing price.