The electricity market and Oulun Energia
We have compiled information on this page about the current situation and issues that Oulun Energia can affect.
More information on how the electricity market works can be found in Energiateollisuus ry’s ja Fingrid Oyj’s publication (in Finnish only).
Frequently Asked Questions about electricity retailers, such as Oomi Energia.
Oulun Energia as an electricity producer
Oulun Energia Oy operates as an electricity producer and sells the electricity it produces to the Nordic electricity exchange. In accordance with the Electricity Market Act, electricity network companies have been separated from electricity retail companies. In other words, Oulun Energia Oy does not operate as an electricity supplier in the retail market, nor does it have electricity contracts with end users.
Oulun Energia Sähköverkko Oy is responsible for the transmission and distribution of electricity.
Oulun Energia, for its part, can do its part to reduce the price of electricity by producing as much electricity as possible in this situation. The most important thing is to keep its production plant in good working order and to maximise the electricity supplied to the national grid in order to keep the increase in electricity prices moderate. The current high cost of energy is due to the Europe-wide energy crisis resulting from Russia’s war of aggression in Ukraine.
Electricity prices and electricity sales
Electricity providers answer to the retail market in electricity sales. In Finland, there is fierce competition between electricity providers, to the benefit of electricity users.
Electricity providers are responsible for the pricing of electricity contracts. Electricity providers buy the electricity their customers need directly from the Nordic electricity exchange.
Oomi Energia is an electricity provider that started its operations on 1 April 2020. Oomi Energia was established by Lahti Energia, Oulun Seudun Sähkö, Pori Energia, Vantaan Energia, and Oulun Sähkönmyynti Oy and its shareholders: Oulun Energia, Tornion Energia, Haukiputaan Sähköosuuskunta, Raahen Energia, Rantakairan Sähkö, and Tenergia.
Oomi is responsible for the pricing of electricity contracts. Oomi buys the electricity its customers need directly from the Nordic electricity exchange. Prices in the electricity exchange have increased considerably and electricity providers have to take this into account, which has been reflected as strong increases in electricity prices for customers as well.
Oulun Energia cannot influence the pricing of electricity set by Oomi or any other electricity provider. Independent companies are responsible for the pricing of their own products. However, Oomi is obliged to supply electricity in Oulun Energia Sähköverkko Oy’s operating area. Oomi has only one supply obligation product available to all its customers, its exchange-priced Oomi Active.
Oomi Active is an exchange-priced electricity contract in which the price of energy is variable, based on the Finnish price area’s hourly (spot) price of electricity in the Nordic electricity exchange, Nord Pool. The cost of each hour is formed on the basis of the hourly rate and hourly consumption. In addition, the current marginal price (c/kWh) and a monthly basic fee will be charged.
The Energy Authority has established that a supply obligation product can also be a exchange-priced product. Electricity subject to a supply obligation can be sold, for example, as a valid until further notice contract or as a market-based contract.