Oomi Product-specific terms, consumers, Oomi Flex
The terms will come into effect on 15 August 2023
These product-specific terms are part of the customer's contract with Oomi Oy.
Oomi Flex is a fixed-term contract in which the terms and the prices are determined in accordance with what is agreed upon when the contract is signed.
The price of the Oomi Flex contract consists of three parts: 1) monthly basic fee (€/month), 2) fixed price of electricity (c/kWh) and 3) consumption impact (c/kWh). The price paid for the electricity by the customer is determined based on the fixed price of the electricity (2) and the consumption impact (3).
The invoicing of the Oomi Flex includes the consumption impact alongside the basic fee and fixed energy price. The impact varies based on the customer’s monthly per-hour electricity consumption and the hourly prices of exchange electricity, which is why it is not fixed.
The consumption impact (c/kWh) is determined based on the Finnish regional per-hour price of electricity (c/kWh), as published by the Nordic electricity exchange (Nord Pool AS), and the customer’s hourly consumption (kWh).
The consumption impact is dependent on the distribution of the customer’s consumption between the more affordable and expensive hours. The consumption impact means the difference between the average price weighted with the customer’s consumption and the average exchange price.
The consumption impact (c/kWh) is calculated as follows:
A/B - C, where
A/B = Consumption-weighted average price in the invoicing period (c/kWh), where:
A = Consumption for each hour of the invoicing period multiplied by the exchange price of the hour in question (i.e. the Finnish regional price of the Nord Pool Spot). The resulting costs are tallied (c).
B = Total energy consumption in the invoicing period (kWh).
C = Average price of exchange electricity in the invoicing period (c/kWh).
The consumption impact increases or reduces the price of electricity paid by the customer (c/kWh) compared to the fixed price because the price of electricity listed on the invoice is the fixed price + the consumption impact. The consumption impact is not known until the invoicing period has ended.
If the customer has not otherwise informed Oomi 14 days before the expiry date of the fixed term or signed a new fixed-term contract, the contract will continue to be automatically valid until further notice with the product and prices separately confirmed by Oomi Oy.
Benefits and risks of the Flex contract
The invoicing price of the Oomi Flex contract depends on the price of exchange electricity as regards the consumption impact. The price of exchange electricity varies by hour, and customers have the opportunity to lower the price of their electricity by focusing consumption on the more affordable hours of the day. If consumption mostly takes place during the more expensive hours, the consumption impacts will increase the invoicing price compared to the fixed price of electricity specified in the contract. If the same amount of electricity is used every hour of the month, the consumption impact will be zero.
The price of exchange electricity can vary greatly by the hour and month. The typical actual values for the consumption impact* have been as follows:
Average consumption impact: +1.15 c/kWh (VAT 24%).
For 67% of customers, the consumption impact is -1.5 ... +3.7 c/kWh (VAT 24%).
For 95% of customers, the consumption impact is -4.1 ... +6.3 c/kWh (VAT 24%).
* Sample of Oomi customer base, 95% confidence interval, error margin +-0.21 c/kWh. Calculation period: 1 February 2022–31 January 2023. In the selected period, the consumption impact has been historically high.