Electricity Prices Stable, But May Be Unpredictable: How to Choose the Right Contract for Your Needs

On Thursday, the price of electricity on the exchange spiked to nearly 50 cents per kilowatt hour, causing concern for consumers. However, experts recommend opting for a fixed-term, fixed-price contract to avoid sudden price increases. Compared to previous years, the long-term average price of electricity has become more stable, hovering around 6-7 cents per kilowatt-hour in recent months. This has led to decreases in fixed-term contract prices.

Looking ahead, electricity price futures suggest a decrease in prices in May and June, followed by a gradual increase as temperatures drop. Despite some fluctuations, the average energy prices are expected to remain relatively steady throughout the rest of the year. Currently, the most affordable fixed-term contracts are those with shorter durations such as a three-month contract offered by Vihreya Älyenergia Oy for 6.25 cents per kilowatt-hour.

For those looking for longer contracts, larger energy companies like Vattenfall and Helen offer slightly more expensive options with additional benefits. These companies provide fixed-term contracts ranging from one-and-a-half years to 24 months with prices varying between 7.90 to 8.80 cents per kilowatt hour. It’s worth noting that some contracts include live usage effects based on electricity exchange prices that can either reward users for consuming electricity during cheaper hours or incur additional costs during peak hours.

In conclusion, despite occasional price spikes, there are various options available for consumers to manage their electricity costs effectively by carefully comparing and choosing the right contract; individuals can ensure a more stable and predictable energy bill each month.