In the beginning of 2013, Estonia’s electricity market was opened, allowing everyone to choose and change their electricity supplier as often as every month. In order to cope in an open market, you have to be careful when entering into contracts and do sufficient groundwork. The following tips provide an overview of what you should consider as the electricity buyer.
Electricity sellers will make you offers based on your prior consumption (the volume and duration of consumption). There are three pricing formulas: a fixed price package, a partially changing price package and a changing price package depending on the movements of the power exchange. The latter package resembles offering electricity as a universal service in which case the price of the electricity is unknown in advance and depends on the everyday changes of the power exchange.
Prior to entering into an electricity contract
- Ask for offers from at least two or three undertakings and compare them paying attention to the terms and conditions and the price,
- Keep in mind you have the option of comparing electricity packages in multiple comparing sites,
- Take your time and thoroughly examine the terms and conditions of the contract and ask additional questions, if needed,
- Find out if it is possible and how to end the contract or change the package, when and how to submit electricity readings and what happens if you forget to submit readings,
- Get to know when to pay the bill and what can happen if you miss the payment deadline;
- Find out how the undertaking will notify you of faults and scheduled electricity interruptions and how and whom you have to notify of faults and electricity interruptions, as well as how and to whom you have to submit complaints.
If you would like a new electricity contract starting from the following month, you have to enter into a new contract with an electricity seller at least 21 days before the start of the next month.
Keep in mind you must notify your current energy seller of ending the contract at least 30 days in advance. As the seller can only be changed when a new month starts, it is reasonable to also notify your current seller of ending the contract when a new month starts. For example, if you would like to start using the services of a new electricity seller from December, you have to notify your current electricity seller of ending the contract at the latest on 1 November.
Electricity sellers actively make offers, including over the phone and online. Keep in mind that when entering into a contract via telecommunications, you have the right of withdrawal within 14 days without giving any reasons.