Lumo Energia

Lumo Energia 2 year Hybrid

17,90 c/kWh + 10 % monthly spotprice

+ 3,90 €/month

Lumo Energia's Hybrid plan is a new kind of electricity contract! This plan is for you who want the benefits of a fixed price, but at the same time are willing to take a small risk to get your electricity a little cheaper.

The price of our Hybrid plan consists of three parts:

  1. A fixed kWh price that is slightly lower than the kWh price of a standard fixed-term contract.

  2. A variable kWh price, which is 10% of the average price in the Finnish price area of ​​the Nord Pool power exchange. The price varies monthly according to the average price on the power exchange. The average price is always clear at the end of the month.

  3. A fixed monthly basic fee

The contract is for a fixed-term of two years and its fixed-price, basic fee or pricing basis will not change during the fixed-term.

What does 10% of Nord Pool's average monthly price mean?

At the end of each month, the power market Nord Pool forms the average price for the month. For example, in April 2022, the average price was 9.84 cents/kWh (incl. VAT 24%). 10% of the average price, which would have been 0.98 cents/kWh in April, is added to Hybrid's fixed kWh-price. The variable price part in the Hybrid contract varies from month to month and is not known in advance.

You can view actual stock exchange prices on Nord Pool's website. Please note that Nord Pool rates do not include VAT. 

Prices incl. VAT 24%. The price includes the sale of electricity: your local transmission network operator will charge a separate transmission fee according to its public price list. Tariff: General electricity. Terms and conditions of sale

FAQ

What has been the average price of electricity in Nord Pool in recent months?

 

Below we have listed the average monthly price of electricity on the power market Nord Pool for the last six months.

  • November 2021: 10,65 c/kWh
  • December 2021: 23,98 c/kWh
  • January 2022: 13,23 c/kWh
  • February 2022: 10,05 c/kWh
  • March 2022: 10,72 c/kWh
  • April 2022: 9,84 c/kWh

The above prices include VAT. 24%. Please note that if you view the prices on the Nord Pool website, the prices do not include VAT.

Why choose a 2 year Hybrid rather than a regular 2 year fixed-term contract?

With a Hybrid plan, you can get electricity a little cheaper than with a regular 2-year fixed-term plan. However, you must remember that the price of market-traded electricity varies from month to month, and the billing price for each month is not clear until the end of the month. So you have to be prepared to take a small risk to get a cheaper price.

How is the market price formed in Nord Pool?

In the Nordic power market Nord Pool (the so-called wholesale electricity market), electricity producers, buyers and brokers sell and buy electricity at spot prices.

The most common way to buy and sell electricity is at the next hour's hourly electricity price. This means that buyers and sellers will agree on the prices of tomorrow’s electricity one hour at a time. Every day, the buyer announces how much electricity he plans to buy tomorrow and at what price. At the same time, electricity producers will announce how much electricity they plan to produce tomorrow and at what price. The power market closes every day at 1 p.m.

When buying and selling electricity on the day before market, careful planning is required. Unexpected events can change circumstances. For this reason, Nord Pool also has a market where buyers and sellers can buy electricity in real time, hour by hour: an intraday market.

Together, the two market prices mentioned above determine the so-called spot price. The spot price controls the price at which electricity is sold to customers. In variable rate electricity plans, VAT of 24% and the electricity seller's margin are always added to the spot price. See the spot price on Nord Pool's website.

How can I track the market price of electricity?

You can follow the market price of electricity, the spot price, on the Nordic power market Nord Pool's website, where you can see the electricity prices set for the next day. There you can also see historical data about the electricity price. When you look at Nord Pool's prices, it is important to remember that they do not include VAT or the seller's margin.

Choose fossil-free electricity

For all our electricity plans, you can choose fossil-free energy certified with guarantees of origin or EKOenergy recommended by the Finnish Association for Nature Conservation. Select your chosen energy source when filling out the order form.

Right to exchange for a fixed electricity contract

Wondering if it is worth committing to a fixed-term plan? What if the electricity price will fall and your own electricity contract continues at a higher price? Add a right to exchange to your fixed-term plan, and you can switch to another fixed-term plan during the contract period.

The right to exchange can be used once in 12 months. You can switch to an equally long or longer fixed-term plan. Contact our customer service when you want to use the right to exchange.

Add the right to exchange in the order form when you sign the electricity contract. The right to exchange cannot be added after the electricity contract has started.

See all terms and conditions for the right to exchange

Are you moving?

If you are signing a contract for an apartment with no existing electricity contract, select the I am making a contract to a new address that has no previous contract option on the order form.

If you would like your contract to begin sooner than in 5 days, state your requested starting date under More information in the order form and we will review it when processing your order.

Are you changing electricity company?

If you are switching electricity suppliers at your current address, select the following option in the order form I am changing electricity company at my current location. The new contract may begin in 15 days’ time at the earliest.

If your current fixed-term contract with another supplier is about to end, it will remain valid until your new contract begins.

Lumo Energia

Lumo Energia is an electricity company founded in 2015 in Vallila, Helsinki. Almost 70,000 Finns have already chosen us as their electricity company. 97.3% of our customers found it easy to change their electricity contract and 76.1% got direct savings by switching to Lumo Energia. Make the best electricity contract for you and become one of our satisfied customers.

Customer service

We value our customers and our aim is to provide excellent customer service. Contact us if you need help with signing or choosing a contract, or if you would simply like to switch to a new, more affordable electricity contract.

Check our FAQ for quick answers

Our customer service is open on weekdays from 09.00 to 18.00.

You can also contact us outside openings hours via email at [email protected]

Our customer service hotline charges are: Local network rate

Weekdays Mon–Fri 9–18
09 4272 0444
You can also find answers on our FAQ page.