Terms and conditions of Full Hydro Quarter electricity agreements
The Full Hydro Quarter electricity agreement is an electricity sales agreement made for an indefinite period between the customer and Vattenfall Oy (hereinafter referred to as Vattenfall), which takes effect on the agreed date of commencing electricity supplies or on the earliest date when commencing electricity supplies is technically feasible.
The agreement concerns sales of electricity and the price of this power. The official taxes and charges that Vattenfall is required to collect will be added to the sale price at the applicable rates. The local distribution network operator will also collect power transmission charges and electricity tax in accordance with a network services agreement made between the customer and the said operator.
The local distribution network operator will be responsible for metering electricity consumption. Hourly metering of electricity consumption must be fitted at the point of use for which the Full Hydro Quarter electricity agreement is made, and the use of metered hourly data for billing must be technically feasible. The agreement requires a continuous connection of the hourly electricity consumption metering equipment to the main switch at the point of use. Invoicing will be based on the hourly consumption data sent to Vattenfall by the distribution network operator.
Metering of electricity consumption, determination of price and billing
The energy price of the Full Hydro Quarter contract is valid for the calendar quarter and the price is revised four times a year. The periods in which the price remains the same are 1.1-31.3, 1.4-30.6, 1.7-30.9 and 1.10-31.12. The energy price for each period is agreed no later than one month before the beginning of the quarter. The price is based on quotations of the Quartal products of the Nasdaq OMX Commodities derivative market in each period and in the margin set by Vattenfall. Value added tax is included in the price. In addition, a monthly based charge is added (EUR/month). The new energy price for each quarter is always informed at www.vattenfall.fi as well as every customer will get notice by e-mail or text message at least 30 days before the price change. If the supply of electricity according to the contract of the customer begins during the period for which the price is not yet specified at the time when contract was made, the price of the first period will be confirmed to the customer. The fluctuation of the quarterly price does not constitute a change of the price or contract the terms mentioned below.
Electricity generated by the hydropower
The energy supplied under the Full Hydro Quarter electricity agreement has been produced entirely by hydropower. Vattenfall commits to acquire energy generated by hydropower corresponding to the electricity used by the customer.
Commitment to the agreement
The agreement is specific to the customer and point of use. The customer must notify Vattenfall of any change of point of use no later than two weeks in advance by calling the Vattenfall customer service desk on 020 722 9000 or advising Vattenfall by post, telefax or e-mail. The agreement expires when the point of use changes. The customer is also entitled to terminate the agreement at two weeks’ notice. Vattenfall may terminate the agreement at one month’s notice.
General terms and conditions governing the agreement
The agreement shall be governed in other respects by the general terms and conditions of electricity sale agreements – TESa 2014 recommended by Finnish Energy Industries. Fluctuations in the Market price under the Full Hydro Quarter electricity agreement shall not constitute changes in price or modification of the terms and conditions of the agreement to be notified to the customer in advance or on account of which the customer would be entitled to terminate the Full Hydro Quarter electricity agreement pursuant to point 10.9 of the general terms and conditions of electricity sale agreements – TESa 2014.