Payment is made in arrears. That means you pay after you’ve used.

It is invoiced on the first day of the next month with a 14-day payment deadline.

You must take care of this deadline yourself before it goes on to debt collection.

After entering into an electricity agreement with Red Sea Energy, you have a 14-day right of withdrawal. Outside this deadline, you have no right of withdrawal.

You can still terminate the agreement if you have missed the right of withdrawal. The notice period is 14 days.

We have three different electricity agreements:

  • SPOT
  • Management
  • Fixed price

SPOT follows the power exchange / market. We sell to you with 3-7 cents / kWh in surcharge.

Forvaltning is typically 22% below the SPOT market in most seasons. We control the prices in Forvaltning ourselves. Read about how: here.

Fixed price is fixed for an entire year. You pay the same price month after month.

Read more about the benefit:  here.

Electricity certificate is a state-regulated small surcharge. This surcharge is intended to support Norwegian power producers to produce 100% renewable energy. Electricity certificate is planned until 2035. Electricity certificate rate in 2020 is 0.186.

This is how it is calculated: Example;

  • SPOT price = 20 cents / kWh
  • + 3 cents / kWh in surcharge
  • * Electricity certificate
  • + MVA (VAT)

[(20 cents/kWh) + (3 cents/kWh) = 23 cents/kWh +  23 cents/kWh*0.186 (Electricity certificate) = 4.278] = 27.278 

+  MVA(VAT) 25% *27.278 

34.1 cents/kWh. 

Read here about electricity certificate rates.