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How to Manage Electricity Contracts and Supplier Information

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Hello and Welcome!

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In this article, we will review the importance of managing electricity contracts and supplier information. We’ll discuss why providing energy supplier details is necessary, outline the different types of electricity contracts available, and highlight key considerations for selecting the right contract for your needs. We will cover:

1. Why Is Energy Supplier Information Required?
2. Choosing the Right Contract Type

Lets start:

1. Why Is Energy Supplier Information Required?

Electricity supplier information is essential to maintain grid stability. In Finland, for instance, electricity market regulations require all players to estimate their consumption and production quantities. By providing your energy supplier details, we can notify suppliers of charging behavior, ensuring compliance and supporting grid stability.

Additionally, if you’ve provided marketing consent, this information allows us to tailor our offerings further better to meet your needs as a charge point owner. This can help you maximize the value of your energy management setup.


Important Note:
Currently, contracts cannot be edited once submitted. Furthermore, contracts with connected feeds cannot be removed, so accurate initial submission is crucial.

 

2.  Choosing the Right Electricity Contract Type

The type of electricity contract you choose directly impacts the value you can achieve through energy management. Below are the main contract types and their key characteristics:

  1. Fixed Price Contract

    • You pay a fixed price per kilowatt-hour (kWh) consumed.
    • This provides price stability but may not offer cost advantages during low-price periods.

  2. Time-of-Use Tariff

    • Prices vary based on the time of consumption, with different rates for on-peak and off-peak hours.
    • Example: Day and night contracts, where off-peak hours often offer lower rates.

  3. Dynamic Price Contract

    • Prices fluctuate based on market signals, typically reflecting wholesale electricity prices plus a retailer’s margin.
    • This type of contract allows you to take advantage of low prices during periods of reduced demand.

  4. Other

    • Select this option if your contract type doesn’t fit into the above categories.

That's it.
You can now make informed decisions that align with your energy management goals and financial considerations.

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