We are transitioning to a 15-minute electricity market

The so-called spot price on the electricity exchange varies in 15-minute intervals instead of hourly.

Yes. Finland will transition to a 15-minute electricity market on October 1. Those of our customers whose product is fully or partially based on exchange pricing, will also have their contract switch to 15-minute pricing. Since the change acquires an update of the terms, this will happen no earlier than November 1.

15-minute pricing affects the following consumer contracts:

• Exchange Electricity
• Exchange Electricity Wind Power
• Influencer (the Own influence price component will be based on spot prices determined in 15-minute intervals starting November 1; the fixed component remains unchanged)
• Surplus electricity sales

If your meter does not support 15-minute metering, your hourly consumption will be evenly divided into four 15-minute periods. Example: if you consume 4 kWh in one hour, the system will allocate 1 kWh to each 15-minute period.

Electricity network companies must replace old meters with devices that measure consumption in 15-minute time-periods by the end of 2028. The replacement schedule varies by network company. Once your meter is replaced, you will automatically be included in 15-minute metering. However, even if your meter measures consumption by the hour, you can still have an electricity contract based on spot pricing.

The change itself does not affect electricity prices. Exchange electricity customers will see spot prices in 15-minute intervals.

Starting November 1, spot prices and commission fees will be itemized separately on the invoices for our Exchange Electricity and small-scale production contracts.

Exchange electricity customers who do not yet have a meter that supports 15-minute metering will continue to receive consumption data with hourly accuracy. Billing will use the electricity exchange’s 15-minute prices, and hourly consumption will be evenly divided into four quarters.

15-minute pricing affects the following contracts:

• Exchange Electricity – price determined in 15-minute intervals from November 1 at the earliest.
• Exchange Electricity Wind – price determined in 15-minute intervals from November 1 at the earliest.
• Influencer – Own influence price component will be based on spot prices determined in 15-minute intervals from November 1 at the earliest; fixed component remains unchanged.
• Surplus electricity sales – compensation for solar electricity determined in 15-minute intervals from November 1 at the earliest.

Other consumer contracts are not affected by 15-minute pricing.

If your electricity meter supports 15-minute metering, you will see your electricity consumption in 15-minute intervals in the Vaasan Sähkö app and online service starting November 1, regardless of your contract. The same detailed consumption data is also available in Fingrid’s Datahub customer portal.

You can view consumption data for your places of use in the Vaasan Sähkö app and online service.

If your electricity meter supports 15-minute metering, you will see your electricity consumption in 15-minute intervals in the app and online service starting November 1. The same data is also available in Fingrid’s Datahub customer portal.

You do not need to replace your meter yourself. Your electricity network company will take care of it in due time. Network companies have until the end of 2028 to replace meters with 15-minute capable ones. The replacement schedule varies by network company. Almost all Vaasan Sähköverkko customers already have 15-minute capable meters.

If your meter does not support 15-minute metering and you have a product based on exchange pricing, your hourly consumption will be evenly divided into four 15-minute segments. Example: if you consume 4 kWh in one hour, the system will allocate 1 kWh to each 15-minute period.