Finns will scatter fixed contracts: electricity has doubled in price

Frosts and calm weather led to the fact that electricity prices in Finland doubled in January. One energy company offered contracts with the lowest tariffs and they were dismantled like hot cakes.

In January, the exchange price of electricity in Finland rose to 117 euros per MWh. This is the highest average monthly price since 2022. For example, over the past two years, quotes have been twice as low as in the first month of 2026. Frosts and calm weather remain in Finland and so far the average price in February is already 248 euros.

According to Yle, Finnish energy companies are already offering to pay bills in installments or late. Many consumers use market tariffs that depend on stock quotes.

But Korpelan Energia offered a one-year contract with a fixed tariff of 7.13 cents per kilowatt-hour (71 euros per MWh), writes Helsingin Sanomat. And she caused such a stir that she had to stop signing new contracts.

"Customer service has become overloaded and contracts have been temporarily withdrawn from sale to deal with the backlog of orders," said Mika Konu, CEO of Korpelan Voima.

According to him, customers come from all over the country. The number of new customers is four digits.

"We are competing with the same chips as the big players. We buy electricity on the futures market in advance," said Mika Konu.

It is expected that the one-year contract with a fixed price will be put back on sale, but at a different price.

"Customers have become more active and are asking how quickly they can switch to a fixed contract. They are worried about what bills they will receive in January. This is clearly disturbing people," said Hanna Hallaroro, sales manager at Kokkolan Energia.

According to Yle, about ten percent of consumers have switched to fixed contracts in recent days. During peak hours, the total price, including VAT, can now reach 82 cents per kilowatt-hour (820 euros per MWh), and an average of 50 cents per day (500 euros per MWh).