Finnish area price (FI)
The Finnish area price is the hourly electricity area price calculated for Finland on the Nord Pool exchange. It may differ from the neighbouring prices (Sweden, Norway, Estonia) if transmission capacity is insufficient to balance the market.
On the Nord Pool exchange, prices are formed hour by hour by the meeting of supply and demand. When electricity can move freely between countries, the area price is the same for Finland and Sweden. When transmission capacity (e.g. the Finland–Sweden cross-border cable) is fully used, prices diverge — in the buying country the price rises and in the selling country it falls.
In practice the Finnish area price is often slightly higher than Sweden's because Finland imports electricity especially on cold, windless winter days. On windy weekends Finland can be a net exporter and the area price is set by the export constraint.
Your contract price = the hourly FI area price + provider margin + 25.5% VAT. The FI area price is thus what Finnish consumers pay for energy.
Why does the Finnish area price differ from other countries?
Nord Pool's balancing algorithm first calculates a common Nordic price. If transmission capacity between countries is sufficient, the area price is the same on both sides. When capacity fills up — e.g. the FennoSkan cable between Finland and Sweden provides 1,200 MW of import capacity and is often fully used on cold winter days — prices diverge. In Finland consumers pay more, in Sweden producers receive less than in the common scenario.
The Finnish area price was on average 10–20 % higher than the Swedish SE3 area average over 2015–2024, with differences widening in 2021–2022.
How is the hourly area price formed?
The previous day at 13:00 CET Nord Pool collects hourly supply and demand bids. Producers announce the lowest price they accept — wind typically 0–5 €/MWh (near-zero operating cost), hydro 5–30 €/MWh, nuclear bidding low to run continuously, gas turbines 50–200 €/MWh. The price settles where the last needed producer's bid meets the last buyer's bid.
If transmission is sufficient the price is the same across areas. If there is a bottleneck, prices diverge by local supply-demand balance.
What does the FI area price mean on your bill?
On a spot contract your monthly bill is the sum (hourly consumption × hourly FI area price) plus margin plus basic fee plus 25.5 % VAT. For example if you used 20 kWh in an hour when the area price was 8 c/kWh, you pay 1.60 € for that hour's energy.
From November to March the Finnish area price is typically highest — cold snaps raise electric-heating demand while wind generation drops. These months account for 60–75 % of annual electricity costs in an electrically heated detached house.
Frequently asked questions
Why is the Finnish area price often higher than Sweden's?
Finland is a net import country — we import electricity from Sweden, Estonia and Norway in winter. When transmission capacity fills bottlenecks, Finland's price rises and Sweden's falls. Production structure matters: Sweden has lots of hydropower (flexible, low marginal cost), Finland depends more on nuclear and CHP.
When is the FI area price lowest in a day?
On average between 02:00–06:00 — industrial and consumer demand is at its minimum. The average night-hour area price is about 40–60 % of the average expensive evening-hour price.
Where can I see the area price right now?
From the live widget above or the spot electricity price page. Verrokit displays prices including the 25.5 % VAT — the same number that ends up on your bill.