Price Cap Q&A

  • Best Answer

    PeterT_EONNext's Avatar
    Community Team
    Best Answer
    Hey Everyone! ๐Ÿ‘‹

    I thought I'd create a thread to start a discussion around the price cap, set out by Ofgem, released today, and coming into effect from 1st April.

    As we all know, the energy market over the last 6-12 months has been a little... How can I say this. Bleak?

    There can be misinformation and confusion all over the shop when it comes to the price cap such as "I thought you couldn't charge more than this, so why are you?" and "Does this mean I can use as much as I want and not pay more than what Ofgem have said?"

    The hope with this post is that we can have a discussion and a bit of a Q&A about any worries or concerns you might have, and hopefully put many of them at ease ๐Ÿ˜Œ We'd love to hear any energy saving tips you may have, as well as of course, sharing some of our own! ๐Ÿ˜„

    If you'd like to view the official info on the price cap, you can do so by visiting our Price Cap Information Page which outlines how the price cap impacts E.ON Next customers and guidance for next steps.

    I know this can be a worrying and uncertain time for most (myself included!) so if you have any questions, be sure to post them below so that we can have a discussion.

    Pete ๐Ÿ˜Š

    EDIT: Hey there, just to add on to Pete's post here is a link on where you can find support, from us as well as elsewhere.
    Last edited by Beki; 08-03-22 at 14:36. Reason: Edit to add link to Here to Help post.
  • Roxy89's Avatar
    Level 1
    Im not very good with things like this, I'm on key meter for both gas and electric. How much is the price increase? Double? Has it come into effect yet?
    Last edited by Beki; 03-02-22 at 19:44.
  • 225 Replies

  • theunknowntech's Avatar
    Level 79
    Hiya! I'm theunknowntech, a forum volunteer who's helping out here.

    The price cap changes that Ofgem have announced haven't yet taken effect and won't do so until the 1st April. Until then, you'll stay on the existing rates and they'll only change for you from the first top-up you do on or after the 1st April 2022. I'm afraid I don't have a crystal ball so I can't tell you what the new prices will be once the changes take effect.

    You may want to take a look at the Q&A thread that's been set up as well. It might help you out.
    Just another guy passing by... The unknown tech way...
    Pete is an IHD Tariff Update Robot! ๐Ÿค– Anasa is a Giant Enemy Robot Spider ๐Ÿ•ท ๐Ÿค– Hannah is neither! Need Customer service? click here! Replacement IHD Guide? Here it is!
  • UKDave51's Avatar
    Level 3
    For me its likes like e.on have pulled a fast one on us, my fixed rate expired a few days ago, but the best renewal i could find was 50% more expensive, and it`s going up again in April, so it`s price hike for renewals that nobody told us about.
  • KevinW's Avatar
    Level 1
    Martin Lewis program last night was very good information and the situation is terrible. 2 of us at home, she works from home and we were paying ยฃ85 pcm. The recommendation is to increase the monthly DD to ยฃ147 ๐Ÿ˜ณ๐Ÿ˜ณ๐Ÿ˜ณ๐Ÿ˜ณ thatโ€™s a 73% increase.
  • PeterT_EONNext's Avatar
    Community Team
    For me its likes like e.on have pulled a fast one on us, my fixed rate expired a few days ago, but the best renewal i could find was 50% more expensive, and it`s going up again in April, so it`s price hike for renewals that nobody told us about.

    Hi UKDave51,

    It sounds like your fixed tariff was coming to an end due to you either being on a 1 year fix or a 2 year fix from January/February 2020/2021 (we're not pulling a fast one, I promise!)

    I completely get that it's not ideal, and the sudden realisation that your tariff is ending along with this Price Cap announcement has left a lot of us in the same situation ๐Ÿ˜”

    It's best to check your current account balance, and your monthly payments if you pay by Direct Debit - prices will be increasing and getting ahead of the game now is better than leaving things until later. If you don't pay by Direct Debit, you can always set one up on your online account, not only does this provide a small saving on your unit rates and standing charges by paying this way, it also helps to budget easier.

    I don't want to teach anyone to suck eggs as such, however, making small changes such as turning the thermostat down by one degree and making sure anything not in use is switched off at the plug really does go a long way!

    Pete ๐Ÿ˜Š
  • PeterT_EONNext's Avatar
    Community Team
    Hi @KevinW ๐Ÿ‘‹

    Martin Lewis isn't wrong, the situation currently is a little dire.

    As prices are rising, it's best to keep an eye on your Direct Debit - if you can, it's a good idea to increase this to an amount you can afford right now rather than wait.

    If you're having any issues with your payments though, please do reach out to us!

    Pete ๐Ÿ˜Š
  • avburt1's Avatar
    Level 1
    Hi Peter

    The only people benefiting from paying more now will be EON next who enjoy an interest free loan.

    An alternative option I think you would agree would also be to save the money yourself, ready for the winter months?
  • HumbleSapien's Avatar
    Level 1
    Hi Pete. Can you tell me why I am paying more than the current energy price cap? I'm paying 4.27p p/kwh for gas instead of 4.07p p/kwh, and 21.98p per kwh for elec instead of 20.8p per kwh. And higher standing charges as well - 30.78p per day for gas instead of 26.12p; 28.59p per day for elec instead of 24.88p per day. Thanks.
  • Beki's Avatar
    @HumbleSapien Hey there Beki here, the Community Manager.
    I've had a look at your account and the figures you have provided do not line up with your tariff information on your account. If you check your online account you can see your tariff information.
    Are you getting these figures off your IHD? If so, I will send you an update as these figures are incorrect. ๐Ÿ˜Š