- Variable price each month in accordance with the price at the electricity exchange
- Possibility to choose an alternative proposal without paying agreement termination fee
- A trade comission that decreases as your electricity consumption grows
- Payments by invoice
Elektrum Dinamiskais is suitable for you, if:
- you are ready to take the risk, because the price at electricity exchange can change quickly;
- you can monitor price change at the exchange and adjust your electricity consumption habits . The most convenient way to do it is using Elektrum mobile application. Using the application, you can set a price level at which you will receive a notification;
- you have a Smart meter. Smart meter records your hourly consumption and calculates costs according to hourly rates at the exchange. By adjusting your consumption to moments when price is low, you can reduce electricity costs.
When selecting this product, the price of one kilowatt-hour will be determined by the previous month’s hourly price in Latvian region set by the Nord Pool (NP) exchange. The price of this product depends on the situation in the electricity exchange: if the exchange prices fall, your monthly payment will decrease and vice versa.
If you have a smart meter installed, which reads your consumption every hour, then your average weighted price of electricity is calculated according to the hourly consumption data at your individual location. This means that the price of electricity for each such location (client) will be different on the basis of individual hourly consumption.
On the contrary, if you do not have a smart meter installed, which reads your consumption every hour, by selecting Elektrum Dinamiskais product, your hourly consumption will be calculated using the standard hourly consumption division percentage, which is published and calculated by Sadales tīkls AS. The information on this division can be found here.
The results of these calculations and the final price by month is available below, in the “Price Change Schedule”, where you can see the historical weighted average exchange price of electricity for the last 12 months. The price is identical for all customers who do not have a smart meter installed.
To receive your bill, you will have to submit your meter readings each month from day 27 to day 3 of the following month. You can choose to receive the bill amount via SMS to your mobile phone. In this case, the bill will not be sent by mail or e-mail, but it will be available at www.elektrum.lv. If you wish, you can select another electricity product at any time without paying the fee for contract termination.
Elektrum Dinamiskais payment consists of the price of electricity per kWh and trade service fee, which will be reviewed not more than 3 times per calendar year. If this fee changes, we will notify you 30 days in advance. You can select to receive your monthly bill to your e-mail or by mail (fee for sending a printed bill – EUR 1.00).
The payment for Elektrum Dinamiskais is calculated, based on the NP LV data for 12 months and Sadales tīkls AS daily electricity consumption division percentage, which is a variable value, thus the price of electricity mentioned below does not guarantee the same price in the future.
Your monthly payment for electricity consists of several components: the price of electricity, mandatory procurement component, power supply costs and VAT. Read more on what the electricity cost consists of here.
|Electricity price||Unit price|
|NP LV average weighted price for 12 months (with AS "Sadales tīkls" coefficients)||0.04460 EUR/kWh|
|Trade comission (for consumption 0-599 kWh)||0.00564 EUR/kWh|
|Trade comission (for consumption 600-999 kWh)||0.00508 EUR/kWh|
|Trade comission (for consumption from 1000 kWh)||0.00472 EUR/kWh|
|Mandatory Procurement Components||Unit price|
|Mandatory Procurement Components||0.03242 EUR/kWh|
|Electricity transfer costs||Unit price|
|The payment for electricity supply||0.05334 EUR/kWh|
|The payment for the provision with a connection (tariff S1)||1.50040 EUR per month|
|The payment for the provision with a connection (tariff S2, up to 16A)||3.8720 EUR per month|
|The payment for the provision with a connection (tariff S3, up to 16A)||3.8720 EUR per month|
|Late payment penalty for each delay date||0.15%|
|Payment date||End of month|
Price fluctuation graph
What price is shown on the invoice?
The calculation of the electricity price is based on the electricity price on the exchange at the particular hour and the customer’s electricity consumption during that period – and so 24 hours a day, throughout the month. The Nord Pool Spot exchange prices are available on the exchange website.
The invoice reflects the weighted average price, which depends on your meter.
This is a variable value; therefore, we calculate the weighted average electricity price for the previous month at the beginning of each month. Within the last 12 months the weighted average price was for 3.11% above the average NPS price.
1. If you have a meter which does not record your hourly consumption
Your electricity consumption per hour is recorded by the distribution system operator. Most Latvian households are not equipped with electricity meters with an automatic reading system, so their hourly consumption is unknown. In this situation, the standard hourly electricity consumption distribution in percentage (the typical load graph) provided by Sadales tīkls AS is applied in order to calculate the hourly consumption: the hourly consumption is determined by multiplying the monthly consumption by that percentage.
2. If you have a meter which records your hourly consumption
If you have a meter which tracks your hourly consumption, the weighted average price will be calculated according to your actual consumption. In this case, the weighted average price per kilowatt-hour will be different for each customer, as the calculation is based on the individual consumption.
How do you calculate the weighted average Nord Pool Spot exchange price?
You can calculate the weighted average NPS exchange price per kilowatt-hour as follows:
1. Calculate the sum of products of the hourly price on the Nord Pool Spot exchange for the previous month and the hourly consumption.
The hourly prices on the NPS exchange for the Latvia bidding area are available here (remember to select the LV bidding area). Please note that the Latvian time zone has a one hour offset from the information on the hourly prices available on the Nord Pool Spot website; therefore, the last Nord Pool Spot price of each preceding month should be applied to the consumption of the first hour of the month. This means that the last price of the month that can be seen on the Nord Pool Spot website will always be used for the next month’s calculation. You already know your hourly consumption. The calculation does not take account of the transferred public holidays.
2. Divide the obtained sum by the total consumption in the month.
! Keep in mind that the prices on the NPS exchange are specified per megawatt-hour (1 MWh = 1000 kWh) and without VAT. For example, if the hourly exchange price is 40.43 EUR/MWh, a conversion to kilowatt-hours will yield 0.04043 EUR/kWh.