SpotVahtiSpotVahti · updated 11 Nov 2026 · calculated from actual hourly prices for 1 Nov 2025–31 Oct 2026
In short
Heating costs more than the average spot price because it happens in winter. In a house with a ground-source heat pump (10,000 kWh/yr, of which about 5,000 kWh is heating), heating electricity cost on average 8.49 c/kWh over 1 Nov 2025–31 Oct 2026, 23 % above the year's average price. January and February were 32 % of the heating kilowatt-hours but 59 % of the cost. Shifting heating to the 12 cheapest hours of the day, for example with a storage tank or underfloor heating, lowers the price of heating electricity by about 28 % (119 €/yr in a ground-source heat pump house).
Winter decides
The average spot price over 1 Nov 2025–31 Oct 2026 was 6.89 c/kWh. Heating does not use electricity evenly, though: most of the energy is used in freezing weather, which is also when electricity is most expensive. That is why the real price of heating electricity was 8.49 c/kWh, 23 % above the average.
| House | Heating electricity | Price | Cost | Jan–Feb share |
|---|---|---|---|---|
| Detached house, ground-source heat pump 10,000 kWh/yr | 5,000 kWh | 8.49 c/kWh | 424 €/yr | 59 % |
| Detached house, direct electric heating 18,000 kWh/yr | 11,700 kWh | 8.49 c/kWh | 993 €/yr | 59 % |
Heating cost by month
Monthly heating electricity cost in a ground-source heat pump house. January and February cost more than the other ten months combined.
| Month | Heating cost | Price with heating pattern |
|---|---|---|
| November | 36 € | 5.92 c/kWh |
| December | 35 € | 4.44 c/kWh |
| January | 124 € | 14.54 c/kWh |
| February | 127 € | 16.99 c/kWh |
| March | 23 € | 3.47 c/kWh |
| April | 28 € | 6.24 c/kWh |
| May | 13 € | 6.66 c/kWh |
| June | 3 € | 5.70 c/kWh |
| August | 3 € | 5.16 c/kWh |
| September | 14 € | 7.08 c/kWh |
| October | 19 € | 4.68 c/kWh |
Timing saves
The advantage of a heat pump and storage heating on spot price is that heat can be produced when electricity is cheap and used later. We calculated what heating would have cost if each day's heating energy had been produced during that day's cheapest hours.
| Heating is done | Detached house, ground-source heat pump | Saving | Detached house, direct electric heating | Saving |
|---|---|---|---|---|
| Evenly as needed | 424 € | – | 993 € | – |
| In the day's 16 cheapest hours | 347 € | 78 € | 811 € | 182 € |
| In the day's 12 cheapest hours | 306 € | 119 € | 715 € | 277 € |
| In the day's 8 cheapest hours | 263 € | 161 € | 616 € | 377 € |
In practice
- Ground-source heat pump with a storage tank: many ground-source heat pumps can be set to heat hot water and the tank during cheap hours. The saving comes when the pump pauses during the most expensive hours.
- Water-based underfloor heating stores heat in the building structure, so a pause of a few hours is usually not noticeable indoors.
- An air-source heat pump does not store heat, so there is little room for timing. It saves by reducing consumption, and the saving is largest in exactly the expensive winter hours.
- Direct electric heating without storage is the riskiest situation on spot price. Then it is also worth considering a fixed price.
Tomorrow's hourly prices are published every afternoon. You can use them to plan the next day's heating and other consumption.
Frequently asked questions
Is spot-price electricity worth it with a heat pump?
Often, and most of all when heating can be timed. Over 1 Nov 2025–31 Oct 2026 the cheapest spot-price contract for a ground-source heat pump house cost 863 € and the cheapest fixed-price contract 1,068 € per year, excluding transmission. The risk with spot price is a cold winter: January and February were 59 % of the annual heating cost.
How much does shifting heating to cheap hours save?
In our calculation, shifting heating to the 12 cheapest hours of the day lowered the price of heating electricity by about 28 %, and to the 8 cheapest hours by about 38 %. In practice a full shift is not possible without heat storage, so the real saving is usually smaller.
Why does heating cost more than the average spot price?
Because electricity is most expensive on the coldest days, when heating uses the most. Over 1 Nov 2025–31 Oct 2026 the average spot price was 6.89 c/kWh, but weighted by the heating consumption pattern it was 8.49 c/kWh.
Which contract is cheapest for you?
Calculate your annual price for every contract with your home type and consumption.
Read next
- Fixed price or spot price? Which was cheaper for different home types, and in how many months spot price has won since 2021.
- Margin and monthly fee What the margin on a spot-price contract means and when the monthly fee matters more than the margin.
- Charging an EV on spot price What charging costs at night, in the evening and during the cheapest hours of the day.
- Saving electricity at peak hours Which appliances are worth moving to cheap hours and which are not: calculated savings per appliance with actual hourly prices.
- Switching electricity contract How to switch electricity contract in Finland: termination, fixed-term contracts and moving home.
Spot prices: Ember, European Wholesale Electricity Price Data (CC-BY 4.0), original source Nord Pool. Prices include 25.5 % VAT, but not transmission fees or electricity tax. Method: How we compare. Spotted a mistake? [email protected]