Price Cap Q&A

E.On next have failed to explain to customers what would happen today with the pricing of nearly all customers energy accounts.
It appears that as stage one of their updating, they have incorporated the rates deriving from the OFGEM review published at the end of August. Most customers would have seen substantial increase in their bill had these increases (circa 80%) gone ahead. When stage two (to incorporate the unit price reductions deriving from the Energy Price Guarantee (EPG)) will be completed is currently unclear
In the event, the government stepped in with the EPG, which has applied a significant reduction to the October 2022 OFGEM rates, but has left the Standing Charges unchanged from what OFGEM authorised.- these are in general a slight increase.
For those customers on the variable rate tariff, the prices after the Government EPG has been incorporated will see their unit prices up by around 25% instead of the 80% allowed by OFGEM.
E.On Next has been most reluctant to give away details of pricing up till now and may have been struggling to get the changes necessary properly programmed into their computers. Customers can though refer to the pricing by EDF which was published about 10 days ago. E.On Next’s pricing will likely be very similar.
government_energy_price_guarantee_prices._standard _variable_deemed_and_welcome._credit_meters.pdf (edfenergy.com)
Customers on fixed tariffs will see a range of unit price reductions because of the EPG, but prices will not go below the EPG rates. Some customers who fixed very recently might find, even after the EPG reductions have been applied, that their prices remain above the EPG. It’s likely that the company will bring prices down to the EPG for these customers, if not customers can exit their fix and go onto the variable rate tariff.
E.On next have suspended most of their web site functions for the time being and are no doubt working furiously to get thing right.
As far as the forum is concerned there have been very few E.On Next staff about for some time, perhaps indicating the problems they were having behind the scenes. Most of the contributors here are volunteers who have no access to the company’s systems so can’t actually correct anything for you. Customer services will be overwhelmed at present, but hopefully the website will be up and running again soon, accounts and tariffs will be updated and something approaching normal service will return.
My advice to customers is to be as patient as possible, but concentrate on the fact that unit prices will now remain the same for 2 years but bills can go up or down depending on your consumption. There is no cap on bills, The caps are on prices. Use more - you pay more. Use less - you pay less.