Terms and Conditions

1. Who we are – and what you are buying

These terms of supply apply when Float Energy ApS ("Float Energy", "we", "us") supplies electricity to you as a residential customer. The agreement covers the electricity supply itself and the combined billing, where grid and system charges and taxes are collected through us, even though the rates are set by other parties.

2. Agreement documents and what applies in case of disagreement

Your agreement consists of:

• your order confirmation by email (customer-specific terms such as product, start date, pricing elements, any lock-in period),
• the electricity agreement summary, and
• these terms of supply.

If the documents contain conflicting provisions, the order confirmation takes precedence, then the price sheet, and lastly these terms of supply.

3. Your information and how we contact you

You must ensure that we always have your correct contact details (address, email, phone, etc.). Communications from us are deemed received when we send them to the contact channels you have provided (e.g. email/e-Boks/payment service notifications).

4. Right of withdrawal (14 days)

All our agreements are concluded as distance sales or outside our business premises, which means you can always withdraw within 14 days from the date the agreement was entered into. You can use the standard form at float.energy/fortryd.

If you explicitly request that supply begins before the withdrawal period expires, you will pay for electricity (and any subscription) for the period during which you actually received supply, until the agreement is stopped.

5. The electricity market in brief – and your power of attorney to Float Energy

For electricity to be supplied and settled in Denmark, several parties work together:

• Energinet is the system operator and ensures balance in the electricity system (production vs. consumption).
• Your grid company transports electricity through the distribution network to your address.
• Meter data is exchanged via central market/data platforms (including DataHub operated by Energinet), so that the supplier and grid company can settle correctly.

By entering into the agreement, you grant Float Energy power of attorney to handle the necessary processes on your behalf to deliver the electricity you have ordered. This includes, among other things:

• carrying out the supplier switch to us,
• communicating with Energinet and the grid company regarding registrations, start/stop and settlement-related matters,
• obtaining, receiving and using meter data for billing and to assist you,
• and (if you use/connect Float's solutions, including the Float module for reading data from the meter) requesting/managing relevant technical access credentials, e.g. encryption keys, to the extent necessary to deliver the agreed service.

6. Your relationship with the grid company

You must have a valid connection to the distribution network and comply with the grid company's connection terms. This typically means:

• you must provide access to the meter/installation for inspection, replacement, etc.,
• you must respond if the meter appears to measure incorrectly, and
• in special cases you may be asked to read the meter yourself.

The grid company is responsible for voltage quality and may disconnect the electricity supply in case of necessary work on the electricity network.

7. The service

Your electricity supply includes balancing power, meaning you can consume electricity according to your immediate needs. If the grid company or Energinet restricts or interrupts the supply, delivery may temporarily stop accordingly. Voltage quality etc. is a grid matter and is primarily regulated by the grid company's rules.

8. Metering, meter data and corrections

The grid company is responsible for the meter and for correct measurement. Settlement is based on the meter data we receive (typically via DataHub/the grid company). If meter data is missing, arrives late, or the grid company subsequently corrects meter data (e.g. due to meter error), retroactive adjustments may occur so that you pay for your actual consumption.

9. How your electricity price is structured

Your total electricity payment consists of a consumption charge and a fixed-price charge.

Fixed-price charges:

• Grid subscription per electricity meter (metering point) to the grid company.
• System subscription per electricity meter (metering point) to Energinet.
• Subscription to Float Energy for managing your electricity.

Consumption charges (based on your usage in kWh):

• Electricity trade: the price for the electricity itself at market rate (we add no markup).
• Grid and system charges (tariffs): the price for delivery and operation of the electricity network from your grid company and Energinet, collected through us.
• Taxes and levies: electricity taxes, VAT and any other public obligations.
• Fees: any fees charged by Energinet or the grid company.

Rates for grid/system charges, including subscriptions, and taxes are set by authorities and grid/system operators and may change. We pass these through one-to-one as they are charged to us.

10. A conto, settlement and invoicing

Meter data and final settlement

We settle electricity based on your actual metered consumption when we receive meter data from your grid company (via DataHub).

Your monthly bill – one combined invoice

You receive one combined bill each month, consisting of two parts:

• Settlement for the previous month (in arrears): We calculate your actual consumption for the previous month once meter data is received, and determine the final price for the period.
• A conto for the coming month (in advance): At the same time, we charge an estimated amount for the coming month based on your expected consumption.

If you have overpaid on a conto, the amount is offset/credited on an upcoming bill. If you have underpaid, the difference is charged on an upcoming bill.

How do we calculate a conto?

The a conto amount is an estimate of your upcoming consumption, calculated from the information available to us – e.g. previous consumption at the address and relevant housing/consumption data. If your consumption changes significantly, or if new meter data shows a different level than expected, we may adjust the a conto amount going forward.

If meter data is not ready in time

If meter data is not available in time (or is erroneous), we may temporarily settle based on an estimated consumption. When the final data becomes available, we make a retroactive adjustment on an upcoming invoice.

11. Payment

All amounts are charged in Danish kroner and including VAT, to the extent the amount is subject to VAT. The payment deadline appears on your invoice, including the date for last timely payment and payment details.

If payment is made after the due date, we may charge interest in accordance with the Danish Interest Act and charge reasonable fees for reminders (DKK 100) and necessary collection costs in accordance with applicable rules.

We reserve the right to set off any due receivable and any due debt that you may have with us or one of our affiliated companies.

Non-payment for electricity already delivered is handled according to the general rules on reminders/collection, and default may be reported to credit information agencies in accordance with applicable rules. We may also initiate reminder/collection processes and forward the claim to debt collection.

12. Security and credit assessment

Credit assessment

When you register as a customer, we may carry out a credit assessment. If we cannot approve your credit, we may decline to enter into the agreement or require security.

When can we require security?

If there is reason to expect that payment problems may arise, we may require security as a condition for establishing the agreement or continuing supply. We may do so even if you are not in arrears with us. An invalid payment method may also be taken into account.

What kind of security?

Security may be provided as (i) a cash deposit, (ii) a bank guarantee (demand guarantee) or (iii) other equivalent satisfactory security.

Amount and interest

The amount of security is determined based on our specific risk and an estimate of your expected consumption, and may not exceed up to 5 months' payment. Any deposit does not bear interest.

Notice and deadline

If we require security, you will be notified in writing with a deadline. We may require that security is provided before supply begins or continues. If the security is not provided within the deadline, it may be considered a material breach, and we may terminate the agreement in accordance with applicable rules.

13. If you move

If you move, your electricity agreement can generally be transferred to your new address so that you continue as a customer without interruption, unless you prefer to cancel the agreement instead. For us to register the move correctly, you must notify us at least 10 business days before the moving date.

When you report a move, you must at a minimum provide us with your new address and the date of the move. Once we have the information, we handle the necessary registrations with relevant parties (e.g. grid company/DataHub) so that supply can continue at the new address.

Meter reading and moving settlement

On the moving date, you should read your electricity meter (even if it is normally read remotely). We settle consumption up to the move-out date based on the consumption data we receive. If a reading/consumption data is not available in time, we may temporarily prepare a moving settlement based on an estimate, and make retroactive adjustments when the final data is received. A missing reading may in some cases result in a fee from the grid company, which may be passed on to you.

You will receive a moving statement/final statement no later than 6 weeks after the move-out/termination, provided we have received consumption data in time.

Prices at your new address

If you move to a different grid area, your price may change – particularly because grid and system charges, tariffs and taxes depend on where in the country you live.

Special circumstances

If you have special metering arrangements (e.g. solar panels/annual settlement or similar), we recommend that you contact us well in advance of the move so that registration and settlement are handled correctly.

14. Termination

You may terminate your electricity agreement without notice to us by signing up for electricity supply from another supplier. The agreement is considered terminated when your new supplier has completed the supplier switch.

15. Termination for breach

If the agreement is materially breached, it may be terminated in accordance with applicable rules – e.g. if a requirement for security is not met within the specified deadline. Note that non-payment is handled according to the general rules on reminders/collection, and that supply cessation/disconnection (if it becomes relevant) follows applicable procedures.

16. Final statement and settlement

When the agreement ends, we prepare a final statement based on the meter data we receive. The final statement is sent no later than 6 weeks after the termination date and will normally be the definitive balance statement for the contractual relationship (subject to retroactive adjustments if corrected meter data is received later).

17. Breach

A breach occurs if either party fails to comply with the agreement. Material breach may include:

• If you do not provide the required security (e.g. deposit/bank guarantee) within the deadline we have set,
• if your agreement with the grid company ceases, or
• other serious breaches of the agreement that make it impossible to continue the relationship.

If the agreement is terminated, you may generally only request supply again once any outstanding debt is paid (and any conditions for resumption are met). Before we terminate the agreement, we will normally notify you and give you the opportunity to rectify the situation, unless the matter is so serious that it would be unreasonable for us to wait.

18. Disconnection

The grid company may physically disconnect the electricity supply (e.g. through a disconnection visit or remote disconnection). Disconnection may arise when the agreement has been terminated and no supply from another electricity supplier has been established on the meter.

If the grid company or Energinet disconnects/restricts the supply for reasons not attributable to you (e.g. operational conditions/network maintenance), this is not considered a breach of the agreement.

Any costs associated with disconnection and reconnection (including grid company fees) are payable by you and may be passed on if we are charged for them.

19. Liability

Both you and we are liable under the general rules of Danish law, with the limitations set out in this agreement.

We are not liable for damage or loss caused by errors or interruptions in the electricity network, or for the technical quality of the supply (e.g. voltage level, frequency and interference). The grid company is responsible for matters in the distribution network – and any claims regarding such matters should as a general rule be directed at the grid company.

We are also not liable for losses caused by restrictions or limitations imposed by the grid company, Energinet or the electricity exchange/trading platform.

We do not, as a general rule, compensate indirect losses, e.g. loss of business, loss of profit, lost earnings or similar consequential effects – particularly if the electricity is used wholly or partly for commercial purposes.

Nothing in this section limits our liability to the extent it cannot lawfully be excluded, including where we have acted intentionally or with gross negligence.

20. Force majeure

Force majeure is an extraordinary situation that we cannot reasonably foresee or control and that makes it impossible or unreasonably burdensome to fulfil our obligations (or can only be fulfilled at unreasonably high cost). Force majeure may include war, terrorism, civil unrest, natural disasters, pandemics, strikes, lockouts, legislative action, government orders, electricity network failures, IT outages or similar extraordinary circumstances.

Neither party is considered to be in breach of the agreement as long as performance is prevented by force majeure. We will notify you as soon as the force majeure situation ceases.

21. Personal data and meter data

When you enter into an electricity agreement with Float Energy, we process necessary personal data and metering/consumption data in order to supply electricity, settle correctly and manage your customer relationship.

What information do we process?

• Contact and customer information (e.g. name, address, email, phone and CPR details if required for supplier switch/identification).
• Agreement and payment information (e.g. invoicing, payments, arrears and correspondence).
• Metering/consumption data (your consumption data/meter data), typically received from your grid company via DataHub.

Where do we get meter data from?

Your grid company is responsible for the metering equipment and the accuracy of measurements, and for transferring consumption data to DataHub. We use this data for settlement and any retroactive adjustments if data arrives late or is corrected.

What do we use the information for?

• Creating and managing your agreement, including customer service and communications.
• Carrying out supplier switches and managing cooperation with the grid company and Energinet/DataHub.
• Settling your consumption correctly based on metering/consumption data.
• Handling non-payment, reminder/collection processes and debt collection where relevant.

Who may we share information with?

• The grid company and Energinet/DataHub (for supplier switching, supply and settlement).
• Payment processors, IT providers and other data processors that assist us with operations, invoicing and customer service.
• Debt collection/credit information agencies if arrears arise or there is a legitimate reason for credit assessment/collection.

Your choices and rights

You can always read more about how we process personal data and what rights you have (access, correction, etc.) in our current privacy policy. You should also keep your contact details up to date so we can send important information about the agreement.

22. Death and insolvency

If you die, or if reconstruction proceedings, bankruptcy, debt restructuring or similar are initiated, we must be notified as soon as possible. The surviving party/estate can choose either to take over the agreement temporarily (e.g. until the property is sold) or to cancel it. We will prepare a final settlement based on meter data. If relevant, we may request that the meter is read as of the termination date.

23. Assignment

We may assign the agreement without your consent to (i) a current or future group or affiliated company in Europe and/or (ii) a third party as part of a full or partial transfer of our business (assets and liabilities), provided the recipient meets the conditions for delivering the services under this agreement in Denmark.

24. Complaints and disputes

If you disagree with a bill, consumption or any aspect of the agreement, you should first contact our customer service (preferably in writing) so we can investigate and respond as quickly as possible. A complaint does not automatically suspend your payment obligation.

If you remain dissatisfied with our response, you may refer the matter to:

Ankenævnet på Energiområdet (The Energy Appeals Board)
Carl Jacobsens Vej 35
2500 Valby
Phone: 41 71 50 00
post@energianke.dk
www.energianke.dk

Any disputes are governed by Danish law. If a dispute cannot be resolved through customer service or the appeals body, it may be brought before the Danish courts. As a consumer, you may generally bring proceedings at your local court of jurisdiction.

Float Energy ApS
hello@float.energy