Impacted by the last price cap? We want to hear from you

  • HannahD_EONNext's Avatar
    Head of Community
    Hi!

    There's quite rightly a lot of attention on the impact of the price caps on our customers and like many others we're now looking at the next one in October.

    We'd love to talk to someone who was on a variable tariff and saw their prices increase in April.

    Whilst we may not be fully in control of the prices, we want to see how we can best help our customers whether that's letting them know what the impact may be, what the options to fix are or just the process of getting that first bill.

    Want to get involved? Drop me a direct message or comment below, ideally we'd like to arrange a phone call with one of our team next week to hear your experiences.

    As we've said many times before, it's hearing directly from you that really help us shape what we do next!

    Thanks

    ​​​​​​​Hannah
  • 9 Replies

  • meldrewreborn's Avatar
    Level 43
    @HannahD_EONNext

    Everybody who was on a variable tariff in April was impacted by the change in the price cap.

    Compared to a year previous, electricity standing charge is up 73% and unit prices up 53%.

    For gas the standing charge was up 2.3% and unit prices up 121%.

    Little wonder then that people are shocked by the scale of the increases.

    ​​​​​​​There is in my view too much emphasis on direct debit figures and not enough on the underlying price changes. The amount of the two fuels used by customers is crucial to understanding individual impacts.
    Current Eon Next and EDF customer, ex Zog and Symbio. Don't think dual fuel saves money and don't like smart meters.
  • Andy65's Avatar
    Level 3
    Quote Originally Posted by meldrewreborn View Post
    @HannahD_EONNext

    ​​​​​​​There is in my view too much emphasis on direct debit figures and not enough on the underlying price changes. The amount of the two fuels used by customers is crucial to understanding individual impacts.

    I think @meldrewreborn that the majority of customers have no inclination to really understand their bill in terms of what they've used, unit prices, standing charges etc. It's partly as a result of the convenience of the direct debit system but also due to a change in society in general.

    Surely the same questions apply to any customer coming to the end of a fixed tariff @Han_EONNext? It might attract a bit more interest.
    ​​​​​​​
    Last edited by Andy65; 3 Weeks Ago at 06:25. Reason: Additional comment.
  • meldrewreborn's Avatar
    Level 43
    @Andy65

    when you go to the supermarket you look at prices and decide how many of each product you want. You recognise that quantity times price will impact your total bill. Why is energy so different.

    is there a disconnect between the time of consumption and the arrival of the bill that lies behind people's fall back on direct debit comparisons?
  • JohnT's Avatar
    Level 1
    I agree with Andy65. If you want to know how best to serve your customers you also need data from those moving to a new fixed tariff.
    I am coming to the end of a fixed tariff and have reluctantly already selected a new fixed tariff.
    I am moving from Fix Again 1 Year v8 to Next Online v15 in about 2 weeks from now.
    ​​​​​​​
    The price rises are:-
    Electricity per Kwh +128%
    Electricity per day +313%
    Gas per Kwh +178%
    Gas per day +159%

    These are huge price rises, yet I know that there are many people even worse off than I.

    If anyone from Eon Next wishes to discuss with me how I can get my burden relieved somehow - you have my email address.
    Last edited by JohnT; 3 Weeks Ago at 15:47.
  • meldrewreborn's Avatar
    Level 43
    @JohnT

    Your figures mean something to you but mean little to me. If you quoted the actual prices per day and per unit for both fuels that is something we could relate to. I've posted elsewhere that the unit prices under the price cap could be 50p for electricity and 16p for gas this winter, with standing charges much as they are today.

    ​​​​​​​How does v15 compare?
  • Andy65's Avatar
    Level 3
    @meldrewreborn

    I think that it's simply that people either think that it's too confusing/difficult to work out or that they just aren't interested in checking and working it out.
    Something that I have noticed in supermarkets over the last few years, since you've mentioned them, is how they price/discount items. I'll frequently see a large jar of coffee cheaper than the smaller jar of the same brand, and whilst I'm looking someone will come along and pick up the small jar. I've also seen items on 'offer' that are more expensive than a standard priced item of the same brand. I saw this on Saturday myself. Clearly the supermarkets know that the vast majority of people either don't look at the prices or they can't work out which is the best value.

    I have no doubt that this applies to energy, similarly most drivers don't know that they've been paying close to £9 per gallon, they don't know what a litre is. I believe that most people just get used to paying x £'s for something and energy is no different. In my mind it's basic stuff, but I think society has changed and education has gone way off course, and not for the better.
  • JohnT's Avatar
    Level 1
    @Meldrewborn

    Here are the figures you asked for.
    I appreciate that I was lucky to get v15 as I understand we have now reached v17, which is even more expensive!



    Fix Again V8
    Online V15
    % rise
    Electricity per kwh
    18.695
    42.76
    128
    Electricity daily charge
    10.5
    43.39
    313
    Gas per Kwh
    3.921
    10.93
    178
    Gas daily charge.
    10.5
    27.22
    159
    Last edited by JohnT; 3 Weeks Ago at 19:10.
  • meldrewreborn's Avatar
    Level 43
    @JohnT

    Given what we know today you've got yourself a great deal, Although prices like these would have been greeted with incredulity a year ago.

    I still maintain that because the fuel mix of different households varies so much from each other, comparing dual fuel DDs is rather pointless - a bit like comparing apples and oranges with some grapefruit added.
  • JoeSoap's Avatar
    Level 2
    Quote Originally Posted by JohnT View Post
    @Meldrewborn

    Here are the figures you asked for.
    I appreciate that I was lucky to get v15 as I understand we have now reached v17, which is even more expensive!



    Fix Again V8
    Online V15
    % rise
    Electricity per kwh
    18.695
    42.76
    128
    Electricity daily charge
    10.5
    43.39
    313
    Gas per Kwh
    3.921
    10.93
    178
    Gas daily charge.
    10.5
    27.22
    159
    Hi,

    Like everyone else, I'm finding these increases eyewatering. I thought I'd add a bit to this thread to help others see what is on offer at the moment as it is almost impossible to see what little there is to choose from.

    I count myself very lucky that I fixed a year ago on v6 at rates of Gas 3.33p/kWh and Elec 19.00p/kWh. That all ends on Saturday.

    Not being able to get any quotes from comparison sites and finding what was initially on offer from EonNext (v15) unbelievable (considering my current deal), I chose to sit it out and wait to be put on the Variable Rate. Oh the beauty of hindsight.

    It now seems that as of 2 Aug the latest prediction is for the price cap to rise by 70% in Oct, a further 8% in Jan, another 3% in Apr before falling 4% in Jul. I found this info on MSE site. The key word of course is 'prediction'.

    MSE also suggested that EonNext Online v17, which was then available for existing customers, was 'worth considering'.

    As there are no Exit Fees, and I figured this offer may not stay around much longer, I 'considered' quickly and switched to v17. At least I figured that out right.

    Now, I think MSE put v17 at 67% above the current price cap. I say 'think' as it changed to v18 yesterday (3 Aug) and now puts it at 73% above the cap (based on 'typical use').

    I tried to find the v18 rates in my on-line account but nothing appears when I try to 'Change Tariff'.

    What I can do is share the v17 rates that I signed up to...

    Gas: Standing Charge 27.22p/day. Unit Price 12.87p/kWh.

    Elec: Standing Charge 37.92p/day. Unit Price 52.11p/kWh.

    I am now looking forward to Sunday (not) when my daily gas and electricity usage as viewed on my IHD shoots up from around £4/day to around £10/day... or more.

    Oh for the days when you could see many different tariffs from many different suppliers and be able to make a reasonably informed choice. It now seems you can't even choose a different tariff from your current supplier unless your current deal is reaching an end... and even then it's pretty much 'take it or leave it'.

    I hope the above info is of interest (and maybe some help) to others.

    Well done on signing up to v15, JohnT.