More and more people now take a fixed-price electricity contract – This is how much they pay

On Friday, the price of electricity on the stock exchange jumped to 37.65 cents per kilowatt-hour at its most expensive, but on Saturday, prices fell for several hours to around one cent and even below that.

The risk of stock market electricity price spikes increases in winter, when electricity consumption increases with frost. Electricity companies say that the arrival of winter has increased households’ interest in fixed-price electricity contracts.

The prices of fixed-price, 12- or 24-month fixed-term electricity contracts now start at the lowest of around 8.40–9 cents per kilowatt hour, including VAT. On top of this, there is also a monthly fee of a few euros. As a general rule, two-year electricity contracts are slightly more affordable than one-year fixed-term contracts.

Fixed-term so-called hybrid electricity contracts, in which the price of electricity is partly fixed and partly dependent on the prices of the electricity exchange, are sold at a slightly lower price. For example Glow Energy sells such a two-year hybrid contract at a base price of 7.74 cents per kilowatt-hour and a monthly payment of 4.77 euros.

We collected price information from the electricity price comparison website maintained by the Energy Agency for small houses located in Espoo, one of which has electric heating and the other without. The data was collected on Thursday, December 12.

The prices of fixed-price contracts are now at approximately the same level than in January 2024.

I am interested in a fixed price

Electric company Omg head of consumer business Jani Peuhkurinen according to, the popularity of fixed electricity contracts has been strong throughout the autumn. He believes this is due to the fact that fluctuating electricity prices have become a permanent phenomenon in the electricity market.

Also The waterfall business manager Taija Sjöblomin according to the approach of winter has increased the interest of households in fixed-term, fixed-price electricity contracts. The share of these contracts has increased by a few percent in the last couple of months. According to Sjöblom, there has still been enough demand for exchange electricity contracts, the number of which has increased in recent years.

“It seems that exchange-linked contracts are here to stay and there is clearly more demand for them than a few years ago. People have learned to monitor prices and their own consumption, and it’s easier than before.”

However, according to Peuhkurinen, the number of exchange-linked electricity contracts has not grown at such an accelerating pace as it might appear based on the public discussion.

“The number of spot customers has remained fairly stable, and has stabilized at a good 30 percent of customers.”

According to Peuhkurinen, customers are interested in new types of, for example, hybrid electricity contracts, but their share is still relatively small.

At the beginning of the year, a price increase?

On average, exchange electricity has been cheaper than the prices at which fixed-price electricity contracts are now sold. In November, the average price of electricity on the stock exchange was 5.69 cents per kilowatt hour, and the rolling 28-day average price was 6.31 cents per kilowatt hour.

However, the price of electricity on the exchange varies hourly, so the actual invoiced price is affected by when the electricity is used.

However, based on the price forecast calculated from electricity futures, the price of stock electricity may rise in the coming winter months.

Based on futures predicting the price development of stock electricity, the price of electricity would be 9.4–9.5 cents per kilowatt hour on average in January–February and 8.8 cents per kilowatt hour in March.