Electricity contract for student

What is the best student electricity contract? Many electricity companies advertise various electricity contracts for students, but in reality none of these may be the cheapest option for students. In fact, the cheapest option may still be found among the standard-price electricity contracts.

Student electricity contracts are often not the cheapest option

In general, the student electricity contract is not the cheapest on the market, despite its name, in many electricity companies. In addition, many electricity companies advertise flat-rate electricity contracts for students as easy and cheap solutions, but in reality a flat-rate contract can be up to twice as expensive as a standard-price, pay-as-you-go electricity contract.

For comparison, we have calculated the actual price of electricity for students with electricity contracts from different companies. The consumption used in the calculation is a typical annual consumption of 1500 kWh for a single person. The cheapest "normal" electricity contract is used as a benchmark in the table.

Type

Agreement

The price of energy

Basic fee / month

Price per year (1500 kWh)

Student electricity

Fortum Standard S student

0 snt / kWh

15 € / month

180 €

Student electricity

Vattenfall student electricity

5,59 snt / kWh

1 € / month

95,85 €

Student electricity

Väre Green Monthly electricity

0 snt / kWh

13 € / month 

156 €

Ordinary

5,09 snt / kWh

0 € / month

76,35 €

Comparing the table, we can see that the cheapest standard electricity contract today is Ilmatar Wind24 is significantly cheaper than any of the electricity contracts advertised for student use. Student electricity contracts are therefore generally more expensive than the cheapest standard-price electricity contracts.

Electricity contract without basic fee usually cheapest for a small dwelling

As you can see from our comparison, the cheapest electricity contract for a low consumption apartment is the one without the basic tariff. Since electricity consumption is low, in most cases most of the electricity company's bill is the basic tariff. Thus, a contract without a basic charge is usually the cheapest for the student. For electricity contracts, the basic fee can amount to several tens of euros per year, representing a surprisingly high proportion of the total price of the electricity contract.

As we can see from our comparison, the cheapest electricity contract for a single person is less than €100 per year. For example, if the contract had a basic monthly charge of €4, it would cost an extra €48 per year.

Duration of the student's electricity contract

The duration of electricity contracts for students varies between electricity companies. There is a choice between an open-ended contract and a fixed-term contract. Fixed-term contracts are usually for 24 months, although it is possible to terminate the contract if you move house.

The cheapest electricity contract in our comparison Ilmatar Wind24 is, as the name suggests, a fixed-term contract, valid for 24 months. Although it is a fixed-term contract that cannot be terminated except in the event of a move, the advantage of the contract is the certainty of a low price for two years. This is because the price of the contract cannot change in the middle of the contract period - unlike with many other contracts at a promotional price.

Green electricity contract

If you want your electricity contract to be environmentally friendly, you can choose your electricity contract according to the way you generate electricity. The cheapest electricity contract in the table, mentioned earlier in this article Ilmatar Wind24, is 100% of wind-generated electricity. So with this contract you get affordable electricity produced in an environmentally friendly way. With many other electricity companies, you have to pay a separate premium for electricity produced by wind power, for example.

Frequently asked questions

What is the best electricity contract for a student?

The student's home is usually a small apartment in a block of flats with low electricity consumption. For low electricity consumption, the most advantageous type of contract is usually a no-fee contract. Although many electricity companies advertise special student electricity contracts, these are not usually the cheapest options on the market.

How do I get an electricity contract for my home?

The easiest way for students to sign an electricity contract is online. You can order an electricity contract on the electricity company's website. The links in the comparison table on our homepage will take you directly to the electricity company's website to order your contract.

It is a good idea to sign an electricity contract well in advance, preferably two weeks before you move in. However, if the move is closer, this is not the case - at best, you can have the electricity on the same day.

Do I need an electricity contract for my home?

Not all homes necessarily need a separate electricity contract. For example, in some student flats, electricity may be included in the rent, or the student foundation or student union may be responsible for arranging the electricity contract. For more information on this, please contact your landlord.

What does the price of electricity consist of?

In practice, the price of electricity consists of three different things: the price of electricity, the electricity transmission price and the electricity tax. The electricity transmission fee is charged by the electricity company, while the electricity transmission price and the electricity tax are charged by the local grid company.

Our website and this article only deal with the price of electricity. Electricity transmission prices and electricity taxes are not subject to competition and therefore cannot be influenced. The electricity transmission price and the electricity tax together represent about 2/3 of the total price of electricity.

As electricity energy and transmission can be billed by different companies depending on your area and electricity company, you may receive two separate electricity bills.

Is it profitable for a student to buy electricity from the stock exchange?

Spot electricity is a type of electricity contract where the price of electricity is determined by the spot price on the Nordpool electricity exchange, which changes from time to time. The price of electricity can therefore fluctuate significantly, but on the other hand, you do not usually pay extra for electricity under this type of contract. The electricity company's share of the exchange electricity consists of a margin and a fixed base fee charged according to the electricity consumption.

As most electricity exchange contracts have a fixed base fee, it is usually not the cheapest option for a student living in a block of flats.

Which electricity companies can I buy electricity from?

When comparing electricity companies, you may come across companies whose names suggest they only operate locally - such as Helsingin Energia, or Helen, or Tampereen Sähkölaitos.

Despite the names of the electricity companies, you can buy electricity in Finland from any Finnish electricity company. Only the transmission of electricity is carried out by local grid companies.

 

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