Hintatakuu

The price of a spot price electricity contract follows fluctuations in the Nordic electricity market. For example, during colder periods or when electricity demand increases, the quarter-hourly electricity price can rise significantly.

Fortum Hintatakuu gives you the option to lock in the price of your quarter-hourly priced electricity contract for one month at a time, based on the price-locking offer available to you. This gives you greater predictability in your electricity price during the price-locking period, regardless of how the spot price develops.

When you have Fortum Hintatakuu, you’ll receive new price-locking offers in the Fortum service. The offer shows the price and the period for which the price lock applies. The offered price is based on the current market situation and may change during the offer period. You can accept the offer at any time during the offer period.

By accepting the offer, you lock in your electricity price for the period specified in the offer. Your acceptance is binding, and the price-locking period cannot be cancelled or changed once it has started. When the price-locking period ends, your contract automatically continues with spot-based pricing in accordance with your contract terms.

You don’t have to accept a price-locking offer. If you choose not to accept it, you don’t need to do anything – your contract continues normally with quarter-hourly spot pricing.

If you already have a Fortum Tarkka spot price electricity contract, you can enhance it with Hintatakuu. It’s easy, just contact our customer service at 09 424 11 640, and we’ll help you. You can also conveniently add Hintatakuu to your contract via the Fortum app.

You can subscribe to Hintatakuu at any time of the year. It is an ongoing additional service, just like the Tarkka electricity contract. Hintatakuu will also continue if you move, as long as you transfer your current contracts to your new address.

If you’re unsure whether your Hintatakuu is active or if you wish to cancel the service, please contact Fortum’s moving service line or our customer service. You can also view your active contracts in the Fortum app.

The monthly fee for the Hintatakuu service is €5.97. The monthly fee is charged together with your electricity bill regardless of whether you have received or accepted a price-locking offer. There is no separate fee for accepting a price-locking offer.

When you accept a price-locking offer, the electricity you use during the price-locking period is charged at the fixed price per kilowatt-hour specified in the offer. Any other electricity consumption is charged in accordance with the terms of your electricity contract.

If the price-locking offer applies only to an estimated amount of consumption or a specific share of your consumption, only the amount or share specified in the offer will be charged at the fixed price. Any remaining consumption will be charged in accordance with the terms of your electricity contract.

Our customer service team will be happy to help with any questions about the Hintatakuu service.

In order to offer you a fixed electricity price during the lock-in period, we hedge an amount of electricity that corresponds to your estimated usage in advance, based on the current Nasdaq electricity futures market price level. The price of a Hintatakuu lock-in is therefore based on electricity futures prices. Spot electricity is priced differently than fixed-price electricity, which is why the prices are not directly comparable.

• Spot prices are determined hourly on the Nord Pool electricity exchange.

• Fixed prices, on the other hand, are based on the Nasdaq futures market.

The average realized spot price may turn out to be higher or lower than the locked-in price. A price lock offers predictability, since you know in advance what your electricity will cost.