Get an Electricity Contract in Finland in 10 Minutes!

You are responsible for getting your electricity contract in Finland. How do you do that? Or maybe you live in Finland and notice high electricity bills. How do you find a cheaper deal? Today, I will teach you step-by-step how to get the best electricity contract in Finland in 10 minutes.

UPDATE: Getting an electricity contract before arriving in Finland

If you want to secure a contract before arriving in Finland, contact my partner, Matias Malinen. He can get you a contract even if you don’t have online banking or a personal identity code. I recommend getting a pörssisähkö contract.

Mention my name (Aleksi Himself or Aleksi Linna) when contacting Matias. If you do, I will get a small commission with no extra cost for you if you get a contract. 🙂

You can reach him at:

Matias Malinen
matias@myyntiboosti.fi
+358 44 045 9232

Best electricity vendors/sites in Finland

Below are my recommended vendors. If you are getting your first contract, I recommend Fortum Tarkka Spot. If you’re already living in Finland and have a contract, find your latest electricity bill and see your plan and how you’re paying. Then you can see if you can find a better plan. For step-by-step instructions, read on or watch my YouTube video below.

Best for Newcomers: Fortum Tarkka Spot

Fortum is one of the biggest vendors and a publicly listed, state-owned company. It also offers English services. You get the best price without committing to a fixed-term contract (you can change anytime).

Best Price: Nordic Green Energy Spot Contract

I have been a customer of Nordic Green Energy, as they offer a slightly cheaper margin than Fortum. They offer only Finnish service, but Google Translate will help.

The components of Finland’s electricity contract bills

Before we get started, we need to understand the components of the electricity bill. First, we have the price of electrical energy (sähköenergia in Finnish). It is simply the price you pay for the electricity you consume. The unit is kilowatt-hours (kWh, kilowattitunti in Finnish)

The second component is the electricity transfer price (sähkönsiirto in Finnish). It includes the delivery of electricity to your home and the maintenance of the electricity network. In other words, a separate transmission company will transfer the electricity to your home. The good thing is that you cannot do anything to affect the transmission price. It is automatically determined based on your location. For example, in Espoo, Caruna is responsible for the transmission.

The third component is taxes (sähkövero), which are also impossible to change. To conclude, you can only affect the price of the electrical energy component, and that’s what we will do soon.

The types of electricity contracts in Finland

In Finland, electricity contracts can vary based on several factors, including pricing structures, duration, and the source of electricity. The main types of electricity contracts in Finland are:

1. Fixed-Term and Fixed-Price Contracts

These contracts lock in the price of electricity for a specific period (usually one to three years). The rate per kWh does not change during the contract period, regardless of fluctuations in the market price.

Example: If you sign a fixed-term, fixed-price contract at 6.5 cents per kWh for two years, you will pay this rate for all the electricity you consume during this period, regardless of changes in energy market prices. The pro here is that it’s predictable. There won’t be any surprises because you know exactly how much you pay. There are also a few cons. First, you can pay a higher price if the market prices go lower than your fixed price. In addition, you cannot terminate the deal or switch vendors during the contract period unless you move to a new place.

2. Variable Price Contracts

These contracts have prices that can vary according to the electricity market. The rate per kWh can change monthly based on the market conditions, and customers pay according to the current market rate. The prices change usually every month.

Example: If the market price is 5 cents per kWh in January and rises to 7 cents in February, your electricity bill will reflect these monthly prices.

3. Spot Price Contracts (pörssisähkö, my personal favorite)

These are typically linked to the Nord Pool spot market, where prices change hourly. Customers pay a price based on the actual hourly market rate, which can be beneficial when market prices are low. It’s like a stock exchange, but power prices will change every hour according to supply and demand. On top of that, the vendor will charge a margin, for example, 0,59c/kWh, so that they can make a profit. You can use sahko.tk to find current spot prices and historical data. One of the pros is that this type of contract has been the cheapest long-term. Again, there are no commitments, as there is a 14-day termination period, and you can change plans if you want. The obvious con is that you must pay more if the prices spike, which happens occasionally. However, historical data shows that you will save money long-term regardless of the spikes.

Example: If the spot price is 4 cents per kWh at 3 PM and 6 cents at 4 PM, your bill for electricity used during these hours would reflect these varying rates.

On top of that, any contract can include a fixed monthly cost (perusmaksu), which can be between 0-3€/month.

So, what is the best type of contract? My favorite is Spot Price, which I have used for years. A fixed contract is probably reasonable if you like predictability. A variable contract might be better if you want to save a little more money but spend more time finding the best deal.

Get an electricity contract in Finland step-by-step

Below is an example of how to order the Fortum Tarkka spot deal online. The steps are more or less the same for any vendor. Some sites may ask you additional questions like your annual consumption estimate or the number of people to estimate your monthly electricity cost.

Note: The examples I will show may be entirely different when you make the comparison. The vendors, prices, and deals change constantly. You can use the knowledge you learn to understand different deals.

Filling your details

Start by clicking the “Order Fortum Tarkka” button on the landing page.

an image of Fortum Tarkka electricity contract

You will see a nice overview of what you will get. As a reminder, a spot deal includes the market hourly price + vendor margin, as well as a monthly fee.

explanation of Fortum tarkka electricity contract Finland

Then you fill in your details, name, email, phone, and social security number (aka Personal identity Code, henkiöltunnus). The vendors need these for the contract, and it is common practice to ask these.

filling your details for Fortum Finnish electricity contract

Then you fill in the address where you want the electricity to be, in other words, your address.

Answer the following questions accordingly. If this will be your first electricity contract, choose NO for “Do you have a valid electricity contract in this address?” And YES for “Are you moving?”

Remember that you cannot terminate fixed-term contracts unless you move elsewhere. Naturally, if you’re moving to your first Finnish apartment, this won’t be a problem.

Then you choose the date for the new contract to start. This should be your moving date.

Finalize your details by filling in your current address and choosing where to send your invoices. You should always choose the address where you’re moving to.

Finalise your details

I recommend the following selections for the other options, especially for the grid company question: First, check the two boxes.

If everything looks good, choose “Order and verify.” You will proceed to authenticate using your online banking credentials. If you do not have them yet, you cannot purchase a contract online. In this case, if you urgently need a contract, call customer service and order it that way. If everything goes well, you should get an order confirmation in your email, and that’s it!

Electricity contracts in Finland: the transmission/grid companies

After purchasing an electricity contract, you will most likely get another order confirmation from the transmission company. So don’t worry if that happens. If you have a current deal, the new vendor will cancel the old deal for you. The transmission company will send a separate bill for the transmission, usually every three months. Sometimes, there may be a chance to combine the bills into one.

Turning on the electricity in your Finnish apartment

If you are moving to a new apartment, the vendor will send instructions on activating the electricity on the start day. It depends on the vendor, but in my experience, they will send you an SMS to which you need to reply. You must also check the fusebox (sulakerasia) to ensure that all the fuses + the main switch are turned on. The fusebox is usually somewhere around the entrance.

Photo of a fuse box

How much does electricity cost in Finland?

The answer depends on multiple factors, such as whether the apartment has electricity heating (these are rare), the size of the apartment, the number of people living in it, and consumption habits. For example, in our three-person 78m2 apartment, the costs have been the following on average:

  • Electrical energy: 25-40€/month
  • Transfer cost: 22€ month
  • Both above include taxes.

Conclusion for Finland electricity contracts

Getting an electricity contract in Finland is easy when you understand the basics. I advise you not to overthink. If you’re moving to Finland, get something to start, and you can look for a better deal later. If you already have a contract, compare the numbers on your bill to the available deals. Using the sites I mentioned will get you a decent deal.

If you get a place with heating electricity (detached houses and some terraced houses), it will be more critical because you will spend a lot of electricity to heat the place. But if you live in a block of flats, which is likely for your first apartment, the electricity bill will be 20 to 50 euros a month, including everything.

If you are moving to Finland soon and want to learn more useful things to get the best possible start with your new life, watch my free Move to Finland masterclass.

Click here to check it out

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