Question 1

What is spot electricity, market price or spot price?

Accepted Answer

Spot electricity is an exchanged electricity contract where the electricity price is determined.

Market price means that electricity is sold and bought – exchanged – in the Nord Pool electricity market, where the electricity price is determined according to demand and supply.

The electricity market then sets the price which is called spot price. The prices for the next day are determined one day ahead depending on the market.

If you make an electricity contract where the kWh price is based on market price. You can track the spot prices and optimize your energy consumption when the market price is low.

Question 2

How is the electricity price formed in a market-priced energy contract?

Accepted Answer

The price of energy varies quarter hourly in the Nord Pool energy exchange according to the prices of the Finnish market. You can check the current and upcoming energy prices in Nord Pool's website.

This quarter hourly price is called spot price. Usually energy companies add their margin on top of the spot price, plus a fixed monthly basic fee. So, the energy price per kWh is the spot price plus the margin. The monthly fee is fixed and your energy consumption doesn't affect it.

Question 3

How to follow spot electricity prices?

Accepted Answer

You can easily track spot electricity prices using the free Hehku Energia app (FIN), Fingrid’s mobile app, or by checking spot prices directly on the Nord Pool electricity exchange website.

So where can you see spot electricity prices?

There are plenty of tools available to track spot electricity prices, apps and websites alike. Choose the one that works best for you. You can view current prices and see the rates for the upcoming 24 hours. However, spot prices aren’t available a week in advance like a weather forecast.

It’s also not useful to rely on historical data. In recent years, the old saying that electricity is expensive in winter and cheap in summer no longer holds true. Months and seasons are no longer reliable points of comparison.

Why the change? In the past, electricity was more often produced using nuclear power and fossil fuels, which offered stable availability and more predictable pricing patterns. Today, with renewable energy sources increasing and fossil fuels being phased out, pricing depends more on natural forces, which are harder to regulate or forecast.

Question 4

Is spot electricity worth it?

Accepted Answer

Spot electricity can be a smart choice if your electricity use often happens during the cheaper hours of the day. It’s worth considering whether you’re comfortable following prices and for instance running your laundry during low-cost hours, or if a fixed price feels more convenient and stress-free.

With spot pricing, you can potentially save on your electricity bill, but prices can spike at times. Typically, low-consumption households find it easier to adjust usage based on price, though it’s also possible in detached homes.

If your electricity use is low or you’re able to optimize your consumption, the Hehku Spot contract is a good option.

Question 5

Is spot electricity the cheapest option?

Accepted Answer

Electricity prices on the market, the Nord Pool, fluctuate constantly. Prices are shaped by supply and demand, natural factors like water reservoir levels, and events such as maintenance of nuclear power plants, which can impact availability and pricing. Because of all this, it's not possible to say that one type of electricity contract is always the cheapest.

Spot electricity is a good fit for consumers who are willing to follow market prices and shift their usage to the cheapest hours of the day. This can lead to savings on your electricity bill.

The downside is the risk of price spikes: spot prices can rise sharply and vary significantly from hour to hour or day to day. That makes it harder to plan electricity use and predict your monthly bill.

Question 6

What quarter-hour spot pricing means?

Accepted Answer

Changes are taking place in the electricity market: from 1 October 2025 onwards, Finland – like the rest of Europe – will move to quarter-hour balancing. Nord Pool, the largest electricity exchange in the Nordics and Europe, will no longer publish only hourly average prices; instead, prices will be specified in 15-minute intervals. This means that consumers and businesses will see electricity prices in greater detail and can monitor their consumption to the nearest quarter of an hour.

In practice, once the transition phase ends in 2028, all electricity consumption will be recorded in 15-minute intervals. In Finland, some electricity users already have smart meters that support 15-minute readings.

The new quarter-hour pricing practice is not just a technical change – it is also an important part of Europe’s energy transition. The share of solar and wind power is growing steadily, and their production can vary rapidly. Quarter-hour electricity makes it possible to shift consumption more flexibly to times when electricity is available.

Not all Finnish consumers can yet benefit from quarter-hour pricing. If your meter cannot read consumption every 15 minutes, the price of your spot or demand response contract is still calculated based on hourly averages. This means you can only take advantage of quarter-hour electricity once your meter has been upgraded.

Maintaining and upgrading meters is the responsibility of your local electricity network company. Please contact your network company to ask about updating your meter.

If you notice that your meter is not quarter-hour compatible, you should contact your electricity network company. They can advise you on when your meter will be updated or how you can ensure you will get access to quarter-hour pricing.

Take advantage of low spot electricity prices and save on your electricity bill

Hehku Spot

0,35 c/kWh

Market price is always up to date

Who is Spot Electricity for?

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Frequently asked about Hehku Spot contract

Hehku Energia – better known as Hehku – is a Finnish energy company with the aim of making energy simple and carefree for everyone.

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