Fastpris definition
Fastpris refers to a contract for a set period. The price for the electricity supplied is calculated using a predetermined price per kWh for the relevant bidding area. The predetermined price includes costs for RECs and all other procurement costs. In addition to the electricity price, there is a monthly fee that remains the same throughout the contract period, and VAT. The contract cannot be renegotiated during the ongoing contract period. If neither party terminates the contract at least one (1) month before the end of the contract period, the contract is extended by twelve (12) months at a time under the current terms and conditions. Kraftringen sends a reminder to the customer before the automatic renewal of the contract.