The Hourly based electricity agreement is an electricity sales agreement made for an indefinite period between the customer and Vattenfall Oy (hereinafter referred to as Vattenfall), which takes effect on the agreed date of commencing electricity supplies or on the earliest date when commencing electricity supplies is technically feasible.
The agreement concerns sales of electricity and the price of this power. The official taxes and charges that Vattenfall is required to collect will be added to the sale price at the applicable rates. The local distribution network operator will also collect power transmission charges and electricity tax in accordance with a network services agreement made between the customer and the said operator.
The local distribution network operator will be responsible for metering electricity consumption. Hourly metering of electricity consumption must be fitted at the point of use for which the Hourly based electricity agreement is made, and the use of metered hourly data for billing must be technically feasible. The agreement requires a continuous connection of the hourly electricity consumption metering equipment to the main switch at the point of use. Invoicing will be based on the hourly consumption data sent to Vattenfall by the distribution network operator.
The price of electricity will be determined according to the hourly spot price for the Finland pricing area (hereinafter referred to as the Market Price) published by the Nordic Power Exchange (Nord Pool Spot AS). A Vattenfall Markup (cents per kWh) shall be added to the Market Price. A fixed Basic Charge (EUR per month) shall also be billed. Vattenfall shall be entitled to change the Markup and the Basic Charge on notifying the customer 1 (one) month before the change takes effect.
Bills will be despatched at monthly intervals in arrears. The price for one month will be obtained by multiplying the sum of the Market Price and Markup for each hour by the electricity consumed within the hour in question. The price for the calendar month will be the sum of these hourly prices. The average monthly price of energy shown on the bill will be the price for the calendar month divided by the total electricity consumption over the same period.
The hourly energy prices and hourly electricity consumption will not be itemised on the bill, but will be available to the customer via Vattenfall’s My energy web service.
The agreement is specific to the customer and point of use. The customer must notify Vattenfall of any change of point of use no later than two weeks in advance by calling the Vattenfall customer service desk on 020 722 9000 or advising Vattenfall by post, telefax or e-mail. The agreement expires when the point of use changes. The customer is also entitled to terminate the agreement at two weeks’ notice. Vattenfall may terminate the agreement at one month’s notice.
The agreement shall be governed in other respects by the general terms and conditions of electricity sale agreements – TESa 2014 recommended by Finnish Energy Industries. Fluctuations in the Market price under an Hourly based electricity agreement shall not constitute changes in price or modification of the terms and conditions of the agreement to be notified to the customer in advance or on account of which the customer would be entitled to terminate the Hourly based electricity agreement pursuant to point 10.9 of the general terms and conditions of electricity sale agreements – TESa 2014.