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Electricity contract types in Finland 2026 — comprehensive reference

The Finnish electricity market is one of the most competitive in Europe — and one of the most confusing for consumers. There are several contract types, each suited to a different consumption profile and risk tolerance. This page is your reference guide to all electricity contract types available in Finland in 2026: how each works, who it suits, and how to compare them.

If you only have five minutes: spot electricity is cheapest on average over multi-year periods but volatile. Fixed-price contracts give you predictability. Hybrid contracts split the difference. Read the deep guides linked below for each type.

Electricity contract types — overview

Spot electricity

Spot electricity price follows the Nord Pool market hour by hour. Learn what it means, who it suits and how to benefit most.

Read the guide →

Fixed-price contract

A fixed-price electricity contract locks the price for the whole contract period. Learn when it makes sense and when it doesn't.

Read the guide →

Fixed-term contract

A fixed-term electricity contract binds you for a set period (usually 12, 24 or 36 months). Read terms, penalties and profitability.

Read the guide →

Open-ended contract

An open-ended contract continues until terminated. Learn how it differs from a fixed-term contract and who it suits.

Read the guide →

Hybrid contract

A hybrid contract combines the flexibility of spot with the predictability of fixed. Learn how it works and who it suits.

Read the guide →

Flexible-price contract

A flexible or market-priced contract is indexed to the spot average on a monthly or quarterly level. Learn what that means.

Read the guide →

Consumption impact

Annual consumption, timing and seasonal variation affect which contract is cheapest for you. Learn how.

Read the guide →

Quick comparison — which contract type for you?

Use the rough rules below to narrow down which contract types are worth a closer look. Then use the Verrokit comparison to see actual prices for your annual consumption.

How to choose: 5-step process

  1. Know your annual consumption — find it in your latest annual report or login to your distribution company’s service.
  2. Understand your risk tolerance — can your budget handle a 200–400 €/month winter bill if spot prices spike?
  3. Identify your contract preference — fixed term (locked) or open-ended (free to switch).
  4. Compare prices for your profile — use the Verrokit comparison with your annual consumption.
  5. Read intro perks carefully — fee-free months reduce the first-year cost considerably; some offers are misleading after the perk ends.

Frequently asked questions

Which electricity contract type is the cheapest?
On average over multi-year periods, spot electricity has been the cheapest in Finland — but with significant volatility. Fixed-price contracts protect you from spikes but typically cost more on average. The best contract depends on your consumption profile and risk tolerance — use the Verrokit comparison to see actual prices for your annual consumption.
Can I switch electricity providers anytime?
It depends on your contract type. With an open-ended contract, yes — typically with one month’s notice. With a fixed-term contract, you’re bound for the contract period (usually 12–36 months), and early termination usually triggers a penalty fee.
How long does it take to switch electricity contracts?
The actual switch typically takes 2–4 weeks. Your new provider handles the termination of your old contract — you don’t need to call your old provider yourself. There is no break in your power supply.
Do I need to change distribution company when I switch electricity providers?
No. The distribution company (Caruna, Helen Sähköverkko, etc.) is determined by your address and cannot be changed. Verrokit compares only the energy supplier — distribution is billed separately.
What is a "perusmaksu" (basic fee)?
A monthly fee charged in addition to per-kWh energy charge. Typical range 0–6 €/month. Some intro offers waive the fee for 3–12 months. Always include the basic fee in your total cost comparison — Verrokit does this automatically.
How accurate are Verrokit's price estimates?
Price estimates are calculated from the providers’ publicly listed energy prices and basic fees, applied to your annual consumption. For spot contracts, we use typical Nord Pool averages (e.g. 6.5 c/kWh) as a baseline — actual spot prices vary. Your real bill depends on how spot prices evolve during your contract.
Is "open-ended" the same as "fixed-price"?
No, these are different dimensions. Contract duration: open-ended vs fixed-term. Pricing model: spot, fixed-price, hybrid, or flexible. You can have e.g. an open-ended fixed-price contract or a 24-month fixed-term spot contract.
Should I always lock in a fixed price when prices are low?
Locking in a low fixed price can save money if spot rises during your contract — but if spot falls further, you’re locked into a higher price. There’s no universal ”right time” to lock. If you value predictability and your budget is tight, lock. If you can tolerate variation, spot has historically been cheaper on average.

Compare all electricity contracts

Verrokit shows you the cheapest electricity contract based on your own annual consumption — free, impartial, up to date.

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