Spot electricity or a fixed price? How a spot-price contract works

What makes up the spot electricity price

Spot electricity is based on the price of the Finnish bidding zone in the Nord Pool day-ahead market. Next-day prices are set the day before, so you can see them in advance, for example in your electricity company's app or on the Nord Pool website.

The day-ahead electricity market moved to a 15-minute trading period on 30.9.2025 (Fingrid). In a spot electricity contract the price can therefore change every quarter of an hour, whereas before it changed hourly.

On top of the spot price, the seller typically charges a margin (c/kWh) and a monthly basic fee (€/month). VAT of 25,5 % is added to the spot price. In addition, your electricity bill always includes the grid company's transmission charges and electricity tax, which do not depend on the type of contract.

In the terms of a spot-price contract, it is also worth checking how the seller bills: whether each period is charged the actual price according to consumption, or the monthly average price. Timing your consumption only helps if billing is based on the price for each period.

How much the price varies

The monthly average spot electricity price has varied more than tenfold over the past year. The 2025 average was 4,05 c/kWh excluding VAT. In winter 2026 the price rose clearly: the January monthly average was 11,73 c/kWh and February's was 13,72 c/kWh. In July 2026 the average was only 1,54 c/kWh and in September 5,70 c/kWh (all excluding VAT, Nord Pool).

The monthly average hides even larger fluctuations between individual days and quarter-hour periods. The bill of a spot-price electricity customer therefore depends greatly on when electricity is used.

January 2026: 11,73 c/kWh (VAT 0)
February 2026: 13.72 c/kWh (VAT 0)
July 2026: 1.54 c/kWh (VAT 0)
September 2026: 5,70 c/kWh (VAT 0), 7,15 c/kWh with VAT

Who spot-price electricity suits

Spot electricity is cheapest when consumption can be shifted to cheap periods. Such loads include, for example, a hot water heater, electric car charging, laundry, dishwashing and storage electric heating.

The example illustrates the difference. If a household uses 1 000 kWh a month, the price of spot energy alone including VAT would, at the February 2026 average price (17,21 c/kWh), be about 172 euros, but at the July 2026 average price (1,93 c/kWh) about 19 euros. The margin, basic fee, transmission and electricity tax come on top of these. The actual bill depends on whether consumption falls in the month's expensive or cheap periods.

If consumption is high, falls in winter and cannot be shifted, price fluctuations hit the bill directly. For example, the typical user of an electrically heated detached house consumes 18 000 kWh a year in price statistics, and most of the heating electricity is used in precisely the most expensive months.

In an apartment block where consumption is about 2,000 kWh a year according to the typical user in price statistics, the euro impact of price fluctuation is smaller. In that case the base fee's share of the bill also stands out.

Fixed price and open-ended contract

In a fixed-term, fixed-price agreement the price of energy is agreed for the whole contract period. The price is predictable, but it includes a premium for the seller's risk, and you do not benefit from cheap periods.

According to the Energy Authority, the offer prices of new fixed-term contracts fell in 2025 by 6,6 % for households and 5,2 % for electric heaters. For new open-ended contracts the fall was 1,8 % for households and 4,8 % for electric heaters (situation 1.11.2025).

As a consumer, you can terminate an open-ended electricity contract with two weeks' notice. The seller must notify of a price increase in writing one month before it takes effect (Energy Authority). A fixed-term contract is usually valid until the end of the agreed period.

How to compare agreements

First look up your own annual consumption and its distribution in Fingrid's Oma Datahub using Suomi.fi identification. Enter the consumption in the Energy Authority's sahkonhinta.fi service, which compares the available contracts based on your postcode.

Compare both the energy charge and the basic fee at the same consumption. At low consumption the basic fee can matter more than a small difference in the c/kWh price. With spot-price electricity, look at the margin and basic fee separately.

How many kWh do you use per year, and how much of it in winter?
Can you shift consumption to cheap periods?
Can your finances withstand a month when the spot price is many times higher?
Is the contract fixed-term or valid until further notice?

What spot-price electricity does not change

The contract type only affects the price of electricity energy. According to the Energy Authority, the total price for a household using 5 000 kWh a year was on average 20,86 c/kWh on 1.11.2025, of which electricity energy accounted for 9,45 c/kWh and transmission including taxes for 11,41 c/kWh. Transmission and electricity tax cannot be put out to competitive tender, so their share stays the same regardless of the contract.

From 1.4.2026 the electricity tax for households is 2,325 c/kWh excluding value added tax (Tax Administration). Electricity Price Radar shows the realised monthly spot electricity prices and the structure of the bill on a single page.

Frequently asked questions

How often does the spot electricity price change?

The day-ahead market has used a 15-minute trading period since 30.9.2025, so the spot electricity price can change every quarter of an hour. Next-day prices are published the day before.

How much did spot-price electricity cost in winter 2026?

The monthly average price was 11.73 c/kWh in January 2026 and 13.72 c/kWh in February, excluding VAT (Nord Pool). The 2025 average price was 4.05 c/kWh.

Can I switch from spot-price electricity to a fixed price in the middle of winter?

The notice period for an open-ended agreement is two weeks for a consumer. A fixed-term agreement is usually valid until the end of the term, so check the terms of your own agreement.

Electricity Price Radar brings together the topic's figures, deadlines and services. Open Electricity Price Radar →

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Sources

The article is general information and does not replace the guidance of an authority, a lawyer or an adviser. Check up-to-date information from the sources.