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Finnish energy retailers offer fixed price packages cheaper than in Estonia

Electric lights.
Electric lights. Source: Siim Lõvi /ERR

Finnish energy companies offer Finnish customers cheaper fixed-price electricity packages than their Estonian counterparts. The average household here spends more than €60 a year more on electricity than in Finland.

At Eesti Energia, electricity with a six-month fixed-price package costs 11.6 cents per kilowatt-hour and includes a monthly fee. A consumer who uses 2,400 kilowatt-hours per year will pay €25.22 per month, or €302.64 per year.

Finland's price comparison portal reported that the cheapest electricity contract is offered by Vihreä Älyenergia Oy, whose six-month contract costs 9.97 cents per kilowatt-hour: 7.98 cents per kilowatt hour and €3.98 per month.

Based on an annual consumption of 2,400 kilowatt-hours, electricity in this package costs Finnish consumers €239.28 per year, or €19.94 per month. This means that an Estonian consumer pays €63.36 more per year for electricity than a Finnish customer with a six-month fixed-price package.

Finland's Vihreä Älyenergia is only a few tens of cents more expensive per year than Finland's Nordic Green Energy and Fortum's two-year fixed price package.

The price of a six-month contract with Eesti Gaas is slightly cheaper than the Eesti Energia package, 11.51 cents per kilowatt-hour, but at the same level of consumption, it would cost €276.24 a year, which is still around €37 more than the cheapest Finnish package.

Elektrum's six-month fixed-term contract offers a price of 9.99 cents per kilowatt-hour plus a monthly fee of €1.88, making an annual cost of €262.32 for a total consumption of 2,400 kilowatt-hours.

Alexela offers a fixed price for six months at 11 cents per kilowatt hour during the day and 10 cents per kilowatt hour at night, plus a monthly fee of €1.5.

In January, the average price of electricity on the Nordpool power exchange was €126.48 per megawatt hour in Estonia and €106.22 per megawatt hour in Finland.

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Editor: Karin Koppel, Kristina Kersa

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