Electricity comparison helps you keep your electricity contract always at the lowest possible price. The market price of electricity fluctuates daily, which is why electricity companies change the terms and prices of their electricity contracts at a rapid pace. In addition, electricity companies compete fiercely for customers with limited with their electricity offers. By comparing electricity contracts regularly, you can make sure that you don't accidentally overpay for your own electricity contract.
Comparing electricity contracts can save up to hundreds of euros a year
Comparing electricity can save up to hundreds of euros a year in an electrically heated detached house. It is worth comparing the prices of electricity contracts if there is no price comparison when you subscribe to your own contract, or if it has been several years since the electricity comparison. Electricity price varies widely between electricity companies, and a fall in the market price of electricity can also reduce contract prices.
You can compare the cheapest electricity contracts currently available in just a few minutes using our comparison table on our website. To compare electricity, all you need is information on your electricity consumption, which you can find either on your electricity bill or in your current electricity company's app. You can also choose the type of electricity generation and the type of electricity contract you want to compare.
What electricity benchmarking cannot achieve?
The electricity comparison will therefore help you find the cheapest electricity contract. However, the electricity comparison service does not allow you to compete on the price of electricity transmission, as the transmission price is always determined by the place where you live. In Finland, electricity transmission companies always operate in a specific geographical area, and are responsible for the electricity networks and transmission in that area. The price of electricity transmission is therefore always the same for people living in a given area, and it is not possible to introduce competition.
In addition to the electricity transmission price, there is also the electricity tax, which of course cannot be put out to tender.
While electricity transmission is always determined by the region, electricity can be sold by any electricity company operating in Finland, anywhere in Finland. Our comparison is based on electricity contracts, i.e. the sale of electricity, and does not include electricity tax or transmission prices. Electricity tax and transmission prices are always billed by the local grid company.
The most advantageous contract in the electricity comparison depends on the application
The same electricity contract may not always be the cheapest option for all sites. In the case of apartment buildings, the largest part of the total electricity bill is often the basic electricity bill, while in the case of a detached house, by far the largest part of the bill is the electricity price itself. For this reason, the cheapest option for a small apartment block is often an electricity contract without a basic charge, while for a detached house the smartest choice is almost always electricity on a regulated tariff, even if the basic charge is a few euros per month.
A fixed contract is usually always the most expensive
A fixed electricity contract is usually the most expensive option for all sites. A fixed contract is based on a fixed monthly price for a certain amount of electricity. Fixed contracts are expensive, and any excess over the price of the package is charged at a premium according to the electricity contract price list.
Universal electricity is the easy choice
Universal electricity is an electricity contract where the price of electricity remains the same regardless of the time of day or season. With universal electricity, fluctuations in electricity exchange prices are not reflected in the customer's bill. Depending on the contract, the price is either the same for the whole contract period (if it is a fixed-term contract) or for a certain period of time, such as a month or three months at a time.
A universal electricity contract without a basic charge is often the cheapest choice for a small apartment building. For larger apartments, universal electricity may not be the cheapest choice, but on the other hand, the price is more predictable than for exchange electricity.
Exchange electricity is suitable for optimisation
Spot electricity is an electricity contract where the price of electricity paid by the customer is based on the hourly spot price on the Nord Pool electricity exchange. The share charged by the electricity company consists of a margin (c/kwh) and a fixed monthly payment.
Exchange electricity is a good choice if a household has the possibility to optimise its electricity use at night - the price of electricity is cheapest at night. In practice, the most sensible way of optimising is to have an electrically heated private house with a night-time electricity supply - i.e. the heating of the hot water tank can be focused on the night.
The price of electricity on the electricity exchanges often varies greatly depending on the time of day and the season, which in turn is reflected in varying electricity bills. A person using electricity from the exchange must therefore be prepared for very different electricity bills.
Binding nature of electricity contracts
When comparing electricity contracts, it is worth paying attention not only to the price of electricity but also to the duration of the contract before ordering a new one. There are two types of electricity contract: an open-ended contract and a fixed-term contract.
Electricity contract for an indefinite period
Agreement for the time being is, as its name implies, valid for an indefinite period, without time limit. Contracts of this type can be terminated at 14 days' notice, without the need for a specific reason. In the case of open-ended contracts, it is therefore easy to change electricity company and contract, and this type of contract makes it possible to change to a cheaper contract, if such a comparison is made.
Fixed-term electricity contract
Fixed-term electricity contract is usually valid for 1 or 2 years. Some electricity companies may also offer 3-month and 6-month contracts. Occasionally, 36-month contracts are also offered, but these contracts are legally binding on the customer for a maximum of 24 months.
A fixed-term contract can only be terminated without charge in the middle of the contract period if you move house.
When comparing electricity, it is always worth checking the type of contract, as many of the cheaper contracts are fixed-term. In this case, it is worth thinking twice about whether you want to commit to the same contract for a long period or whether there is a contract on the market that is close to the same price and does not have the same commitment. However, it is often the fixed-term contracts that are the cheapest, as electricity companies naturally want to commit their customers for the long term.
How do I order a new contract after the electricity comparison?
Once you have completed the electricity comparison on our comparison engine, you can go to the electricity company's website to order the electricity contract you want by clicking on the "Continue" button. Depending on the electricity company, you will either order the contract through our service or you will be redirected to the electricity company's website to conclude the contract. Remember to verify the details of the electricity contract once again before ordering a new contract.
Frequently asked questions
Is there a charge for tendering for electricity?
You can tender for an electricity contract on our website completely free of charge. With our comparison service, you can quickly and easily compare the price of electricity from different contracts without having to visit the companies' websites to see the price of each contract separately. Electricity tendering is based on the commissions charged by the electricity companies included in the comparison.
How often should you have an electricity comparison?
The electricity price comparison should be carried out at least once a year, and even more often for households that consume a lot of electricity. To get the maximum benefit from comparing electricity prices, hunt for short term offers - many electricity companies attract new customers by offering significantly lower prices than normal offers.
What is the price of electricity based on?
Electricity price i.e. the price of electrical energy is essentially based on the price on the Nord Pool power exchange. Nord Pool is a common Nordic electricity exchange where electricity companies can buy electricity at market prices. If market electricity is expensive for a long period of time, the prices of all electricity contracts tend to rise. If, on the other hand, market electricity is cheap for a long period, a household with an exchange contract will benefit from a low price.