A fixed electricity price is a guarantee of security
The representative of “Elektrum Lietuva” points out that currently more than half of all electricity consumers in Lithuania have smart meters and can track their daily electricity consumption. By not fixing the price and referring to the rates on the NordPool exchange, customers must adjust their consumption habits, for example, turn off some electrical appliances when the price on the exchange is high – otherwise the electricity bill may be an unpleasant surprise.
“This year we see very clear differences on the NordPool exchange. For example, just this week we observed a situation where the price of a kilowatt hour varied by almost 6 times in different hours on the same day. Therefore, electricity consumers, having fixed the price of electricity, can calmly follow their usual routine and use electricity when there is a need – the price of a kilowatt hour will not exceed the rate stipulated in the contract”, says M. Kavaliauskas.
The interviewer recalls 2022. energy crisis, when private and business customers, having fixed prices as early as 2021 at the beginning, did not receive bills of the size that customers who did not record electricity prices received, and the NordPool exchange achieved all-time electricity price records.
The interviewer reminds that customers who have chosen to fix the price of electricity can fix it for the desired period of time, for example 24 months, when concluding a contract. This means that the price of electricity will not change for two years, even if major changes occur in the market.
Business is more interested in stock exchange plans
According to Elektrum Lietuva data, 9 percent of the company’s customers have chosen exchange-linked electricity plans. Most of them are business customers, who can more easily adapt to price fluctuations on the stock exchange.
“Some business customers have the ability to react to changing electricity prices at a certain time, so they can immediately adjust their electricity consumption accordingly,” the company’s representative notes.
The interviewer adds that private customers can also monitor electricity consumption in real time, but their ability to adapt to stock market fluctuations is not so flexible.
“Usually, small family farms live in a standard mode – they get ready for work early in the morning, they are not at home during working hours, and they start taking care of household chores in the evenings. Therefore, private customers usually use electricity when the demand for electricity is the highest and the supply is the lowest. This leads to the highest prices on the exchange, for this reason households more often decide not to choose exchange plans, and seek lower bills by fixing electricity prices”, says M. Kavaliauskas.
Those with a smart meter can save more
Consumers with smart meters can monitor and analyze when and how often energy-consuming appliances turn on. Monitoring electricity consumption habits makes it easier to choose, choosing a multi-time zone plan pays off more.
M. Kavaliauskas advises to pay attention to electricity plans for two time zones – they most accurately reflect the electricity consumption routine of Lithuanian residents. “Dual time zone plans are best suited for residents who consume most of their electricity in the evenings after work or on weekends. The daytime time zone in the summer season is from 8:00 a.m. until midnight, and in the winter season – from 7 a.m. until 11 p.m.,” says the interviewer.
However, the best way to determine which plan is the most suitable for the user is to review electricity consumption in previous months and use the calculator of an independent electricity supplier, which allows you to compare the estimated bills of different time zone plans.
2024-08-24 22:32:35