Spot Electricity Contract Terms and Conditions 

1. GENERAL

The Spot Electricity Agreement (“Agreement”) is an indefinite electricity sales contract of Lumme Energia Oy. 

Lumme Energia Oy’s Spot Electricity Agreements include a free-of-charge Price Protection Feature (“Price Protection Feature”), which allows Customers to hedge (protect) against fluctuations in the electricity price, in lieu of the normal delivery terms based on the Agreement, to the extent accepted by the Customer when using the Price Protection Feature. 

With the Price Protection Feature, the Customer may set the electricity price partially or fully for a predetermined binding period as further defined in Section 5 of these terms. 

A Spot Electricity Agreement may only be concluded with Consumer Customers whose annual electricity consumption is a maximum of 50,000 kilowatt hours (kWh). 

A Spot Electricity Agreement may only be concluded with Business Customers whose annual electricity consumption is a maximum of 500,000 kilowatt hours (kWh). 

Spot Electricity is a product of Lumme Energia Oy subject to the statutory obligation to supply. 

In addition to these Agreement Terms, the Agreement is subject to the General Terms of Electricity Sales (SME 2024) in force at any given time, or corresponding industry-standard terms replacing them, and, where applicable, Lumme Energia’s General Terms and Conditions. 

2. DEFINITIONS

• Customer means the end user of electricity purchasing electricity from Lumme Energia Oy. 

• Datahub means the centralized data exchange system of the electricity retail market, where customer, contract, and consumption data are stored. 

• Price Protection means the protection of the electricity price, either wholly or partially. Price Protection is further defined in Section 5. 

• Price Protection Period means the protection of the Customer’s electricity price for a predetermined binding period. Price Protection Period is further defined in Section 5. 

• Price Protection Offer means an offer made by Lumme Energia to the Customer concerning electricity price protection. Price Protection Offer is further defined in Section 5. 

• Consumer Customer means a Customer who is a consumer within the meaning of Section 4, Chapter 1 of the Consumer Protection Act (kuluttajansuojalaki, 38/1978). 

• Consumption Effect is defined in Section 6. 

• Monthly Fee means the monthly charge in force at any given time for the Spot Electricity Agreement. 

• Consumption Site means the electricity usage site notified by the Customer and recorded in the Agreement. 

• Lumme Energia, here, means Lumme Energia Oy (Business ID: 2038931-6) and any subcontractors it may use. 

• Service means the OmaLumme service and OmaLumme mobile application, or any electronic service replacing them, as provided by Lumme Energia at any given time. 

• Spot Price is determined, at the level of accuracy applicable at that time, according to the quarter-hour price (EUR/MWh) of the Finnish price area of Nord Pool (the location of the Consumption Site), without minimum or maximum price, to which Lumme Energia’s margin is always added when invoicing the Customer. 

• Agreement means the Spot Electricity Agreement between Lumme Energia and the Customer. 

• General Terms means the industry General Terms of Electricity Sales (SME) in force at any given time, or corresponding terms replacing them. 

• Business Customer means a Customer other than a Consumer Customer. 

3. RIGHT OF WITHDRAWAL UNDER THE CONSUMER PROTECTION ACT

A Consumer Customer has the right to cancel a home or distance sales contract by notifying Lumme Energia no later than 14 days after concluding the Agreement (right of withdrawal). More information about the right of withdrawal, its use, and a withdrawal form are provided together with the contract confirmation. 

For the avoidance of doubt, the right of withdrawal under this Section 3 applies only to Consumer Customers. 

4. TERM AND TERMINATION OF THE AGREEMENT

The Spot Electricity Agreement of Lumme Energia is valid until further notice from the date of conclusion and applies only to the Consumption Site specified in the Agreement. 

Lumme Energia has the right to check the Customer’s credit information through the credit register of Suomen Asiakastieto. Lumme Energia has the right to refuse to conclude the Agreement due to a credit default entry or another reason. 

The Customer must submit any objections to the contract confirmation to Lumme Energia in writing within three (3) weeks from the date of sending the confirmation. Business Customers do not have a right of withdrawal. 

If the Customer has applied Price Protection partially or fully, the Agreement becomes a fixed-term contract valid from the fixing date until the end of the respective Price Protection Period, and the Agreement cannot be terminated by either party. Price Protections made by the Customer cannot be cancelled. More detailed terms regarding termination of a Price Protection Period are set out in Section 8. 

5. PRICE PROTECTION, PRICE PROTECTION PERIODS, AND CUSTOMER ACCEPTANCE OF PRICE PROTECTION OFFERS

The Customer may apply Price Protection to 50% or 100% of the electricity price (“Price Protection”). 

The Customer may apply Price Protection for a minimum of one (1) month and a maximum of twenty-four (24) months (“Price Protection Period”). 

Lumme Energia makes the Customer an offer for electricity Price Protection for a Price Protection Period defined by Lumme Energia (“Price Protection Offer”) through the OmaLumme service or mobile application (together, the “Service”). Price Protection Offers are available for the Customer to view in the Service. 

When market prices change, Lumme Energia reserves the right to: 

• amend the Price Protection Offer and its validity until the Customer has accepted the offer, 

• limit the number and availability of Price Protection Offers made to Customers, 

• limit how often the Customer can accept Price Protection Offers for each Price Protection Period. 

For the avoidance of doubt, Lumme Energia is under no obligation to make Price Protection Offers or implement Price Protection under any circumstances. Lumme Energia may refrain from making Price Protection Offers or implementing Price Protection due to reasons attributable to the Customer’s creditworthiness or solvency, for example. 

If Price Protections confirmed for the Customer cannot be implemented for reasons beyond Lumme Energia’s control, or if they are cancelled due to actions by a third party beyond Lumme Energia’s control, or if a clearly recognizable pricing error in the Price Protection has occurred, the Customer’s Price Protections will not be binding on Lumme Energia, and Lumme Energia will promptly notify the Customer of such an event. 

By accepting the Agreement, the Customer accepts these terms and that Lumme Energia will use electronic communication regarding the Price Protection Feature. Once the Customer has concluded the Agreement, Lumme Energia will send confirmations of Price Protection Offers by email, text message, or other electronic channels used in implementing the Price Protection Feature. Lumme Energia makes Price Protection Offers available to the Customer in an appropriate format, such as by sending a link to a website where the offer can be viewed at the specified time. 

The Customer is responsible for ensuring that their contact details (such as email address, mobile phone number, and other contact information) are correct and up to date. 

Once a Price Protection Period has ended, the Agreement continues automatically under the original terms and prices of the Agreement. 

The Price Protection Feature is a free additional feature for the Customer, which may temporarily be unavailable due to problems or maintenance, for example. Lumme Energia may also discontinue offering the Price Protection Feature at any time. 

6. METERING, DETERMINATION OF ELECTRICITY PRICE, AND BILLING

The Consumption Site under the Agreement must have remotely readable electricity metering that records consumption on an hourly basis (or, as a result of changes, at shorter intervals). 

The local distribution system operator is responsible for electricity metering and transmission. The distribution system operator invoices the Customer for transmission in accordance with its tariff. 

Electricity pricing is based on the Nord Pool Spot Price in the Customer’s Consumption Site price area, which at the time of agreement is Elspot Finland. When wholesale markets move from hourly to quarter-hour accuracy in Spot pricing, all calculations will be made based on the level of accuracy applicable at that time. 

If the electricity consumption of the site is still measured on an hourly basis, the 15-minute consumption is derived by dividing the hourly consumption into four equal parts. 

The electricity price consists of the Energy Charge, Lumme Energia’s Margin, and the Consumption Effect corresponding to any applied Price Protection. 

Energy Charge 
The Customer may apply Price Protection for 100%, or 50% of the pricing, or leave the pricing entirely without Price Protection. 

• If the Customer has not accepted any Price Protection Offers, and therefore no Price Protection applies, the electricity price is based on the Spot Price. The Customer’s energy price is calculated by multiplying the Spot Price by the actual consumption. The invoiced energy price is the Customer’s consumption-weighted monthly average Spot Price plus the applicable Margin. 

• If the Customer has applied 50% Price Protection, 50% of the electricity price is based on the Spot Price and 50% on the protected price (“50% Price Protection”). 

• If the Customer has applied 100% Price Protection, the electricity price is entirely based on the protected price (“100% Price Protection”). 

• If the Customer has applied Price Protection partially or fully, the Consumption Effect for the Consumption Site will be added to or deducted from the price. 

Margin 
The Margin charged by Lumme Energia is energy-based and invoiced for each delivered kilowatt hour. 

Consumption Effect 
The Consumption Effect is calculated monthly based on the hourly Spot Prices in the Finnish price area and the hourly consumption of the Customer’s Consumption Site. The Customer’s hourly consumption (kWh) for each hour of the month is multiplied by the Spot Price (c/kWh) of the respective hour. The sum is divided by the total monthly consumption (kWh), and this figure is compared with (so that the average Spot Price is subtracted from the figure) the monthly average Spot Price (c/kWh) of the Finnish price area. This Consumption Effect is added to or deducted from the protected electricity price on the invoice. 

In practice, consumption during hours cheaper than the monthly average reduces the Consumption Effect, while consumption during hours more expensive than the monthly average increases the Consumption Effect. 

When wholesale Spot pricing accuracy changes to 15 minutes, the Consumption Effect will be calculated accordingly. 

Formula: 

(∑ (A * B) / C) – D = c/kWh 

Where: 

• ∑ = sum of all hours in the month 

• A = consumption of the hour 

• B = Spot Price of the hour 

• C = total monthly consumption 

• D = monthly average Spot Price 

Additionally, Lumme Energia invoices the Customer the Monthly Fee in force at any given time. 

No separate fee is charged for accepting a Price Protection Offer. 

The invoiced price is always determined per calendar month, regardless of the Customer’s chosen invoicing interval. The invoice does not itemize details such as hourly prices; hourly consumption reporting is available in the Service. 

7. TERMINATION OF THE AGREEMENT

The Customer has the right to terminate the Agreement with two (2) weeks’ notice. If the Customer has an ongoing Price Protection Period or has accepted a Price Protection Offer before or after terminating the Agreement, the termination can take effect only after the Price Protection Period has ended. 

Lumme Energia’s right to terminate the Agreement is defined in the General Terms. If the Agreement ends before the end of an accepted Price Protection Period for reasons attributable to the Customer, the Customer must compensate Lumme Energia for the costs incurred in accordance with Section 8. 

8. TERMINATION OF THE PRICE PROTECTION PERIOD

Acceptance of a Price Protection Offer is binding. Price Protection applies bindingly to the Customer’s Agreement for the entire Price Protection Period. Neither the Price Protection Period nor the Agreement can be terminated before the end of the Price Protection Period. 

By accepting a Price Protection Offer, the Consumer Customer acknowledges that they no longer have a right of withdrawal once Lumme Energia has fulfilled its contractual obligations related to the Price Protection. A Business Customer never has a right of withdrawal from Price Protection. 

The Customer must pay Lumme Energia a termination fee for early termination of a Price Protection Period. The termination fee is calculated on the basis of direct financial losses incurred by Lumme Energia due to the early termination of the Price Protection Period. 

The direct financial losses incurred by Lumme Energia are based on the actual protection costs incurred by Lumme Energia from hedging (protecting) the electricity price for the Customer’s accepted Price Protection Period. 

If, at the time of Agreement termination, Price Protections are in effect that extend beyond the Agreement’s termination date, Lumme Energia will charge the Customer any possible negative calculated value of such Price Protections. The amount charged is determined by calculating the difference between the price-protection prices corresponding with the Price Protection at the time following the conclusion of the Agreement. The difference is calculated by comparing the Customer’s protected price with the price of a corresponding Price Protection available at the conclusion of the Agreement. If termination occurs during a Price Protection Period, that protected period will not be included in the calculation.