Terms of the contract - Fixed-term Valtti Electricity

Duration of the contract

Valtti Electricity contract is a fixed-term contract. The contract is valid for the fixed term stated in the confirmation of contract. After that, the contract will become valid until further notice, subject to contract prices valid at any given time. The customer shall then have the right to cancel the contract with a 14-day period of notice, and the electricity supplier shall have the right to cancel the contract with a 14-day period of notice. The new prices to be applied to the contract will be notified 1 month before the contract expires.

Price of electricity

The price of Fixed-term Valtti Electricity contract comprises three price components: 1) the fixed price for electric energy (c/kWh) agreed for the contract period, 2) the price component determined on the basis of the timing of consumption (c/kWh, subsequently the usage impact), and 3) monthly basic charge. The billing price of electric energy consists of a fixed price part c/kWh (1), to which is added the monthly realized, site-specific usage impact c/kWh (2). However, the invoiced price of electric energy cannot be negative.

The usage impact is described in further detail below. The actual invoiced prices are available in the Oma Helen app. The customer’s consent to using Oma Helen is a precondition for drawing up the Fixed-term Valtti Electricity contract. The supplier refunds or charges the metering point-specific consumption impact each calendar month.

The usage impact is determined on the basis of the hourly price in the Finnish price area (Elspot), published by the Nordic power exchange (Nord Pool AS), and the customer’s hourly consumption. The calculation period is one calendar month. If the customer’s contract starts or ends in the middle of a calendar month, the part of the calendar month in which the customer has had a valid Fixed-term Valtti Electricity contract shall be used in the price calculation. The customer’s consumption-weighted average price (A) is thus based on the electricity consumption and hourly price on the effective days and on the average price of the power exchange over the entire invoicing month (B).

The monthly usage impact is calculated as follows:
(A-B) / E = c/kWh, where
A =the sum of the products of the prices of hourly electricity consumption (kWh) and the hourly exchange electricity (c/kWh)
B = Monthly electricity consumption (kWh) multiplied by the non-weighted monthly average of exchange electricity (c/kWh)
E = Monthly electricity consumption (kWh)

A = One hour’s consumption is multiplied by the spot price for the same hour, after which these products of all hours of the month are added up. This way, the impact of every hour over the month is taken into account because consumption and the spot price determined on the market for different hours vary greatly by the hour.

B = The electricity consumption of the same month is added together and multiplied by the monthly average of the spot price for the same month. This makes it possible to calculate the price for total consumption according to the average spot price.

(A-B) = By deducting B from A, you can see the relation of consumption in lower and higher priced hours to the average value. Whether the value is negative, i.e. reducing the invoice amount, or positive, i.e. increasing the invoice amount, is determined according to whether a higher proportion of monthly consumption is consumed during a lower-priced or higher-priced hour in comparison to the average for the whole month. The more you can direct monthly consumption to the lower-priced hours, the more you will stay below the monthly average.

(A-B) / E = A-B calculated in the end is proportioned to consumption by dividing it by the month’s consumption. This gives the usage impact, i.e. the value as a c/kWh unit.This is basically a matter of comparing the hourly prices of the consumer’s own consumption with the monthly average spot price.

Changes to the terms of contract and prices

The impact on the electricity prices as a result of changes in taxes, public charges and other fees comparable to them is taken into account immediately when they enter into force. The electricity supplier shall notify the customer in Oma Helen of their impact on pricing as soon as it has been informed of the change.

The impact of the change in Fingrid’s volume fee for production and consumption on electricity prices is taken into account immediately when it enters into force. The electricity supplier shall notify the customer of the impact of the change on pricing as soon as it has been informed of the change. Fingrid’s volume fee for production and consumption valid at any given time is available at
https://www.fingrid.fi/en/electricity-market/balance-service/fees/

After the fixed contract term has expired, the electricity supplier may change the terms or prices of the contract by notifying the customer 1 month before the change enters into force. The electricity supplier shall notify these changes to the customer in Oma Helen.

Other terms

Fixed-term Valtti Electricity contract can be drawn up for a consumer customer whose maximum annual electricity consumption in a metering point is 100,000 kWh/year. If the actual electricity use exceeds 100,000 kWh/year, Helen shall shave the right to cancel the contract with a 14-day period of notice. If the contract has been made between Helen and business customer, Helen has the right to immediately switch the contract to a Spot contract that is valid for the time being.

In addition to these terms, the Terms of Electricity Sales and the Terms of Electricity Supply (SME2014 and SME2019 valid at the time of drawing up the contract), or corresponding compensatory terms used in the sector, shall be applied.

The contract enters into force according to the start date notified to Helen by the distribution system operator. If the customer's valid fixed-term contract prevents the contract from entering into force on the desired date, the start of the new contract will be moved to the end of the current fixed-term contract, however, no later than 6 months after the original preferred sales start date. Once the order has entered into force, the customer will be sent a notification of it by email.

If the metering point changes during a fixed-price period, for example due to customer moving, a transfer of the contract to the customer's new address shall be agreed on.

The terms of electricity sales and Helen’s general price lists valid at any given time shall be applied to the contract. The prices include value added tax. Any changes and increases in taxes and fiscal charges will be added to the electricity sale prices in accordance with their impact. Prices do not include electricity distribution prices.

The contract will enter into force under the conditions mentioned in this confirmation if the customer does not point out the content of the confirmation within three weeks from the date of this confirmation.

More information on the rights of energy consumers can be found at: www.energiavirasto.fi/en/frequently-asked-questions

Electricity distribution and metering

Helen shall terminate the current electricity contract with the customer’s authorisation and, when necessary, draw up a new electricity network contract in the customer’s name. The distribution system operator is responsible for electricity distribution. The distribution system operator will invoice the customer for electricity distribution according to its price list. The distribution system operator is responsible for metering.

Cancellation right by virtue of the Consumer Protection Act

According to the Consumer Protection Act, the customer is entitled to cancel a new contract within 14 days. The time limit for cancelling the contract ends after 14 days from drawing up the contract.

In order to use the cancellation right, the customer must notify us [name, metering point address, metering point number and, if available, telephone number and email address] of their decision to cancel the contract in an unambiguous way (for example, by sending a letter by post or by email).

The customer may also use the cancellation form, but it is not compulsory to use it. To comply with the time limit for cancellation, it is sufficient that the customer sends a notification on using the right to cancel before the end of the cancellation period.

Impacts of cancellation

Once we have received the cancellation notice, the contract will become void. If the contract is drawn up in connection with a house move to start within 14 days (i.e. before the end of the cancellation period) at the specific request of the consumer, the consumer is obliged to pay the contract price for any electricity they have used before cancelling the contract.

Customer data and data protection

We process personal data according to law and in a reasonable and transparent way. Further information about the processing of personal data is available on helen.fi/personal-data.