Frank Energy is a young and innovative technology company that promotes the energy transition and helps customers save on their energy by offering dynamic energy contracts.
But what exactly is a dynamic energy contract?
Many people don't know, but the price of electricity varies every hour. With a dynamic contract, instead of paying a fixed price for your energy, you pay hourly prices for electricity. These prices correspond to OMIE's prices on the wholesale market. In addition to the wholesale prices, you pay a fixed monthly fee and a variable purchase fee.
Basically, you pay the same as energy companies and large industries for energy, and that saves a lot of money!
In the Frank Energy app, you have an overview of the hourly energy prices. So you can easily postpone your washing to a time when the prices are cheaper. By shifting your energy consumption to cheaper times, you help to relieve our overloaded electricity grid and use greener energy. A better distribution of energy consumption during the day creates more space to connect new green production.
With a dynamic energy contract from Frank Energy, you pay each month for your actual consumption. The advantage is that we keep the financial risks low for both parties. Before each month, we estimate your costs based on the percentage of your annual consumption we expect for that month and an estimate of prices.
At the end of the month, we know exactly how much you consumed and what the prices were at that time, and we adjust it in the next bill. Therefore, we do not charge a fixed amount in advance, but more in winter and less in summer, simply because in summer you consume less energy and at lower prices than in winter. The purchase tariff, the network costs and the monthly tariff are consistent every month.
Using the bill predictor, you can get an idea of what your monthly bills will be like throughout the year.
The dynamic energy contract is only available to customers with a functioning digital smart meter.
You should not confuse the dynamic energy contract with a variable contract, where new tariffs are set on a monthly basis.