Terms and Conditions of ON Power

Scope of Application

ON Power (“ON”), ID no. 471119-0830, Bæjarháls 1, 110 Reykjavík, sells electricity in accordance with the Electricity Act No. 65/2003, the Regulation on the Implementation of the Electricity Act No. 1040/2005, and the Regulation on Electricity Transactions and Measurements No. 1150/2019.

The following are the general business terms of ON Power, which shall apply to all business and contractual relationships between ON Power and its customers, including electricity sales contracts, unless otherwise specifically agreed. Customers of ON agree that by entering into an electricity sales contract, whether made in writing, orally, or electronically, these business terms shall apply. By paying the first electricity bill, the customer confirms their business relationship with ON Power and that these ON Power business terms apply.

Price, Payment Terms, Collection, Interest, and Suspension of Energy Delivery

By entering into an electricity sales agreement with ON Power, the customer agrees to grant ON Power the authority to obtain information about their electricity consumption from the utility that manages the distribution of electricity to the customer. The authorization includes, among other things, information about the meter/utility number, distribution area, address, distribution rates, estimated annual consumption, average consumption, last reading, measurement method, meter status, multiplication factor, and the number of digits in the meter. If it is a time-metered service, usage figures are provided for a retrospective period of up to 24 months. ON Power may estimate a customer's usage if they have not previously been a customer of ON Power. The price depends on ON Power's tariff at any given time unless otherwise agreed. The tariff is always updated and disclosed on the ON Power website as well as on ON Power's invoice to the customer. The energy price only includes the price of the sales portion of electricity. ON is obliged to collect taxes and fees in accordance with applicable legislation at any given time. The customer shall pay a monthly fee according to the invoice from ON. The due date is the 5th day of the second month after the month of usage measured by telemetry, but the 5th day of the following month for estimated usage and readings. Late interest is calculated on the customer debt from the due date to the payment date in accordance with Chapter III of Act No. 38/2001 on Interest and Indexation. ON Power charges a billing fee or notification and payment fee for issuing invoices. The fee varies depending on whether it is a paper payment slip, credit card payment, or invoice payment in online banking. ON is entitled to suspend the supply of electricity to the customer, with the assistance of the distribution utility, if the customer debt is in arrears. In such cases, the distribution utility is entitled to collect closure and opening fees from the customer.

If the customer is, by signing the electricity sales agreement with ON, changing their electricity supplier, the agreement takes effect in accordance with Article 10 of the Regulation on electricity trading and measurements, which states that a general user is allowed to terminate an electricity sales agreement with the supplier with a three-week notice prior to its validity period, which then takes effect at the next month-end.

Termination of Agreement

Unless otherwise agreed, the electricity sales agreements between ON Power and general users are indefinite. Both parties have the right to terminate the electricity sales agreement. If no other arrangement has been made between ON Power and the customer, the customer can terminate their agreement with ON Power with a three-week notice, and the termination will take effect at the end of the following month.

Rescission

ON Power may rescind its electricity sales agreement with the customer if there are defaults due to electricity purchases, provided that ON Power has first warned the customer in writing that such an event may occur. ON Power is furthermore entitled to rescind the agreement with the customer without prior notice if the customer is declared bankrupt. The customer may rescind their agreement with ON Power in the event of ON Power's significant default of its obligations.

New User

ON Power reserves the right to refuse to supply electricity to a new party, or a new place of use for an existing customer, due to, among other things, previous arrears, listing on the Defaults Register, bankruptcy rulings, or if the usage pattern is such that ON finds it difficult to deliver the requested amount of energy. If ON Power refuses electricity transactions, the customer can appeal this decision to the National Energy Authority.

ON Keys, Application and Issuance

ON Power issues ON Keys and operates the ON mobile application (the ON App) for the sale of electricity at ON charging stations. These terms apply to ON Keys and the ON App, which are linked to a payment card, to the extent applicable. Withdrawals are made with the ON Key and charged to the payment account of the respective ON Key. The charging of the card transaction is subject to the terms of the relevant card company. These terms are accepted upon registration for services on the ON Power website and the acceptance is considered confirmed upon the first payment and use of the ON Key.

The ON Key is the property of ON Power, but its handling and use is entirely the responsibility of the registered key holder. The key holder must familiarize themselves with the terms of this service. If an ON Key is lost, the holder must immediately disconnect the key from the payment card on the ON website (My Pages). It is also possible to report it by calling the ON Power phone number 591 2700 (open 24/7 all year round). The key holder is fully responsible for withdrawals made with a lost key until the key has been disconnected from the payment card.

ON reserves the right to suspend and/or deactivate the ON Key without notice in cases of misuse or default. The registered holder of the ON Key commits to fully pay for withdrawals made with the ON Key and in accordance with the current ON price list for charging at any given time.

Applications for ON Keys are made on the ON website. The ON App can be downloaded through smartphones via Google Play and IOS App Store.

Changes to Business Terms

ON Power reserves the right to change these business terms unilaterally. Changes to the business terms take effect upon their publication on ON Power's website.

Assignment

Rights and obligations under these business terms may not be assigned, transferred, or delegated by the customer without the consent of ON Power, and any purported assignment or transfer without such consent is wholly invalid. ON Power shall not unreasonably withhold consent or delay in responding to a request for such consent. ON Power may assign rights and obligations under this agreement to a company within the same group.

Dispute Resolution

In the event of any disputes arising from these business terms, the parties shall make efforts to resolve such disputes or else refer them to the District Court of Reykjavik.

Privacy

In order to fulfill its obligations under these terms and conditions, and in accordance with the law, ON Power processes certain personal data about customers. The processing of personal data is carried out in accordance with ON's privacy policy, which is available on the company's website.