New electricity distribution prices, 1 January 2023
Caruna Espoo Oy's and Caruna Oy's electricity distribution prices will change from 1 January 2023.
Costs are rising at an increasing rate in Finland, and this also affects Caruna's costs. Among other things, electricity network construction has become more expensive, and the costs of energy losses have risen substantially this year. As a result, the price of Caruna Espoo Oy's customers' network service will increase by an average of 2.9 per cent and Caruna Oy's customers' by 3.9 per cent from 1 January 2023.
Electricity network companies play an essential role in guaranteeing energy security in Finland. We take care of the electricity network so that there is enough power to satisfy the increasing energy consumption of our customers and the use of renewable energy. Further investment will be needed in the future to drive the energy transition required for Finland to achieve its goal of becoming carbon neutral.
The tables below show examples of how different types of customers will be affected by the price increase
Caruna Espoo Oy
| Type of housing | Annual consumption (kWh) | Increase (€/month) | Increase (%) |
| Apartment building | 2 000 | 0,47 | 3,0 |
| Detached or row house | 5 000 | 0,79 | 2,7 |
| Detached house, electric heating | 18 000 | 1,94 | 2,2 |
Network service prices will increase by 2.9 per cent on average. The impact on unit prices excluding tax will be 4% on average in Caruna Espoo Oy. The prices were last raised five years ago in 2017 by 7%, and in 2021, Caruna Espoo's prices fell by an average of 2.5%.
The price for a person living in an apartment building will rise by an average of €0.47 per month if the annual consumption is 2,000 kWh. The price for a person living in a detached house with electric heating will rise by an average of €1.94 per month if the annual consumption is 18,000 kWh.
Caruna Oy
| Type of housing | Annual consumption (kWh) | Increase (€/month) | Increase (%) |
| Apartment building | 2 000 | 1,08 | 4,3 |
| Detached or row house | 5 000 | 2,45 | 4,3 |
| Detached house, electric heating | 18 000 | 4,63 | 3,5 |
Network service prices will increase by 3.9 per cent on average. The impact on unit prices excluding tax will be 5 per cent on average. In Caruna Oy, prices were last raised by 3.9 per cent in 2019.
The price for a person living in an apartment building will rise by an average of €1.08 per month if the annual consumption is 2,000 kWh. The price for a person living in a detached house with electric heating will rise by an average of €4.63 per month if the annual consumption is 18,000 kWh.
Q&A
Will both the fixed rate and the energy rate rise?
Both the fixed rate and the energy rate will rise with the increase. The increases have been made as evenly as possible (across products and components).
Is Caruna trying to benefit from the energy crisis by raising prices?
As a company, Caruna does not benefit from the energy crisis, quite the contrary. The rising costs of construction and services are also reflected in our operations. In addition, the costs of the energy losses we buy have risen substantially this year due to higher electricity prices. Capital costs are also increasing due to rising interest rates.
Will there be more price changes after 2023?
It is difficult to assess the situation at the moment because, for example, a year ago it looked as if no price increases would be necessary. The sharp rise in costs this year has significantly changed the need for pricing. We aim to keep the impact of the price increase on the customer reasonable.
Our current estimate is that a further price increase of around the same amount will be needed in the second half of 2023. However, we will monitor developments in the surrounding market and assess the need during spring 2023.
Where can I find further information on pricing?
Our website has a comprehensive information package on pricing.
Does shareholder base have an impact on pricing?
Our shareholder base does not have an impact on pricing. Pricing is based on the company's costs and the number of customers that are paying for the costs of the network assets and services provided by the company.
The two separate companies belonging to Caruna Group are a good example of this: Caruna Espoo Oy, which operates in an urban environment, is among the cheapest electricity distribution companies in Finland, while Caruna Oy, which also operates in archipelagos and rural areas, is in the most expensive fifth. The owner of both companies is the same. You can read more about the price differences between the companies and their reasons on our website.