ON Power's new tariff takes effect as of 1 April, 2025
Two rate plans - loyalty rates for household electricity suspended
General rates
General rate: ISK 11.41 incl. VAT/kWh - rate unchanged
Orkuvísir - dynamic rates
We are suspending our loyalty program for household electricity and implementing new, dynamic rates.
Orkuvísir. New dynamic rates, a great option for homes to manage electricity prices.
Customers who have received a smart meter and have started submitting data via their distribution utility have the option of paying for electricity by real usage, at a price reflecting the purchasing price/market price of the electricity according to every hour of the day.
Orkuvísir, our dynamic rates, is ON Power's first step towards offering customers to influence their own electricity bill by responsible usage. The rates are set up according to the electricty market price per hour, and are suitable for homes that can direct their electricity usage to off-peak hours, e.g. by charging their electric car during the night.
The goal is to:
ON Power's tariff, in particular this rate plan, to reflect actual electricity prices at any given time.
Customers to have better insight into the connection between their usage and the cost of electricity.
Customers to have the option to manage their electricity usage, for example by charging their car during the night or on weekends when cost of electricity is lower.
