Price Cap Q&A

  • JoeSoap's Avatar
    Level 91
    Thank you Individually for all your reply’s .
    does all make more sense now & for your understanding.
    it does say “ To Renew “ my Tariff.
    I don’t think I have been Savvy on the ball with it with Tariffs.
    so eon must of just been putting me on same Tariffs over the years I have been with them .

    i definitely can not afford the £300 Tariff one.
    Am single woman, children . Our adults now, left home . and I have 3 years to retirement age.
    not able to claim any benefits due to savings that take me over the benefit cap & am only working part time !
    No wonder I read that by Retirement age people won’t have any saving left .
    yeah energy prices Rising will go on my paying my gas electric.
    my saving is not even
    even that much over the benefit Cap.
    i suppose I could be great full that I have any savings at all !
    oh well I could buy My own generator, stick it in the garden.
    if my Social Housing landlord would give me the Permission.
    They do that in USA .
    Just a thought 💭!
    life is so short, so shall not worry about .
    shall try anyway .
    get in habit of being being Energy conscious.



    Electricity
    Next Flex
    29.63 p/kWh 32.14 p/day(All rates inc. VAT)


    Gas
    Next Flex
    7.52 p/kWh 27.22 p/day(All rates inc. VAT)
    that’s what my Tariff has been on .
    From the above post, it seems you are already on Next Flex which is the default tariff, I believe. I don't think this can come to an end as you originally said... that is, unless your previous (fixed) tariff has already ended and you have already been moved to Next Flex.

    It can all be really confusing, even if you try to keep up to date with everything, but please be aware that the default tariffs are widely predicted to rise on 1 Oct, 1 Jan and 1 Apr. I think we find out what the new Oct price cap will be next week. That said, with a new prime minister coming in September... who knows what's going to transpire.

    Edit... I started typing this before @meldrewreborn had posted the previous post so my post may be somewhat irrelevant now.
    Last edited by JoeSoap; 17-08-22 at 14:21.
  • meldrewreborn's Avatar
    Level 91
    @Andy65

    OFGEM produce tables of the capped prices by location and by fuel type and by payment method. Electricity also has similar figures for economy 7/10 users.

    The tables are in annual amounts and based upon zero usage (so in effect the standing charge) and then for an average usage figure (3,100 kWh for electricity and 12,000 kWh for gas). Suppliers tend to charge the maximum they can for the standing charge, which then means its possible to work out the unit prices (take the annual average usage figure, subtract the standing charge element, and then divide the result by 3,100 for electricity or 12,000 for gas.

    The trouble is that suppliers don't have to charge the maximum for the standing charge (i think 2 don't) and then they can charge more per unit while still keeping within the maximum charge per annum for these mythical average users. It is extremely complicated, and makes it difficult for the end consumer and anybody trying to explain it to others. Hence the MSM media use national averages and don't bother to highlight that very few users will actually be average.
    @Maggiemay

    How the changes will affect us as individual households depends on how much total energy you use and the relative amount of each fuel you use. Gas is cheaper than electricity by a big margin so use that in preference to electricity when you can. But using less is the simple way forward to reduce costs, and it may well involve going back in time to our youth when waking up to a cold bedroom with frozen condensation on the window was the norm. Be rigorous with energy use boil only the water you actually need, and make sure you have LED lamps in all the rooms you use frequently - they used to save a lot of money before the rates went up, now its colossal.
    Current Eon Next and EDF customer, ex Zog and Symbio. Don't think dual fuel saves money and don't like smart meters. Chronologically Gifted. If I offend let me know by private message, but I’ll continue to express my opinions nonetheless.
  • meldrewreborn's Avatar
    Level 91
    a 50w halogen in 20 hours will consume 1 kWh. An LED might use 5w so will take 200 hours to use 1 kWh.

    A halogen will typically last 1000 hours so will use 50 kWh in its lifetime. Lets use an underestimate of 50p per unit as the cost of the energy. In its lifetime it will cost £25 in energy. The LED will use £2.50. LED are not that expensive (B&M sell 3/4 for £6, similarly in Poundland). Investing in LED lamps will save those that don't already have them lots of money. And we use our lighting more in the winter than the summer!
  • JoeSoap's Avatar
    Level 91
    On the subject of choosing a fix, I wonder what the best fixed tariff is that is being offered to existing customers.

    Next Online v18 is still being quoted on the money saving expert website but looking on Eon Next Tariff Search it seems to have been replaced by v19, which, according to my calculations at least, has tariff rates about 10% higher than v18.

    Perhaps someone can confirm.
    Last edited by JoeSoap; 17-08-22 at 15:10.
  • meldrewreborn's Avatar
    Level 91
    @JoeSoap

    I fully expect fix tariffs to be ended and replaced by others at increasing rapidity once the horror of the new price cap details sink in - the announcement is due to be next Friday (26th August). I agree that the suppliers are quite coy about what they're offering - even to existing customers. Transparency it certainly isn't. If they were being transparent they'd put the rates on their website for open access without needing to log-in in any way.

    So many people don't bother to follow this stuff in detail. I'm a bit of a nerd when it comes to this stuff and I try to warn others of what seems to be on the cards. But the vast majority don't follow it and then profess surprise when the detail hits them. Such is life - we're certainly not all alike.
  • JoeSoap's Avatar
    Level 91
    Well, further to my earlier post, the MSE website now quotes Next Online v19 which they put at 94% above the current price cap for typical users. I know none of us may be typical users but suffice to say the best available fixed tariff for Eon Next existing customers has just got dearer.
  • McPert's Avatar
    Level 1
    Hi. I'm on a fixed deal till October 2nd. For renewal, I've been offered a very cheap looking price on next flex, which is of course variable. If I choose this, will the price I've been quoted go up by the expected 82% in October, or, given that this quote is due to kick in from 2nd October, does it already included the 82% price increase?

    Can anyone help?

    Thanks,

    David.
  • meldrewreborn's Avatar
    Level 91
    No it doesn’t include any October price increase. Of course the extent of that increase and the following one in January is not known but the indications are that they will be very substantial.
  • Landmark's Avatar
    Level 29
    Ladies and gentlement; please note that the following link: - https://www.eonnext.com/electricity-and-gas/price-cap is out of date at the moment because of a change in the Ofgem price cap; it is no longer as advertised here

    Go to: https://www.moneysavingexpert.com/la...=energy#energy to find out the latest update on the price cap which is going on typical usage from £1,971/yr to £2,500/yr and not £3,549 as still advertised on https://www.eonnext.com/electricity-and-gas/price-cap

    Taking into account the £400 government energy crisis grant it means approx a £7.50 increase/month for most people😀

    Eon Next Customer