What is a 2 year fixed-term Hybrid plan?
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:
- A fixed kWh price that is slightly lower than the kWh price of a standard fixed-term contract.
- 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.
- 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.
Take a closer look at the Hybrid plan
How do our normal fixed-term electricity contracts differ from the Hybrid plan?
In a normal fixed-term electricity plan, the price/kWh is determined when you sign the electricity contract and this price does not change during the contract period – regardless of what happens in the electricity market. Our two- and three-year plans work in this way.
The Hybrid plan has an electricity price that is built of several parts, where one part is variable and is based on the spot price on the electricity market Nord Pool. This means that you pay a slightly different electricity price/kWh each month, depending on how the price on the electricity exchange fluctuates.
Did you know? A fixed-term electricity contract can not be terminated during the first 24 months, either by you as a customer or us as an electricity company. In Finland, the maximum length of fixed-term is 24 months (2 years). Why then do we offer electricity contracts with a fixed-term of three years? During the last year we still offer you the same electricity price as before, while you yourself have the right to terminate the electricity contract if you want.