On the eon website
https://www.eonnext.com/electricity-...rice-guarantee under the Fixed Tariff part it says "For the small number of customers who fixed at a high rate exceeding the October Ofgem price cap of £3,549 (£3,674 paying on receipt of bill), they will receive the full discount of 16.998p for electricity and 4.2p for gas. To make sure that those customers also benefit from the EPG we will bring their fixed price down to be in line with the government's £2,500 average threshold."
So it reads as though that even though the government are making energy companies reduce fixed tariffs by 16.998p for elec and 4.2p for gas if you're over the EPG rates, then this doesn't always bring you down to the EPG level, but eon will bring us all down to the EPG rates.
However, it doesn't look like anyone has had any actual confirmation from eon about this?
Agreed we don't know this as of just over 24 hours to go until the EPG goes live
(For the following I have used rates for Northern region)
So for v20 Online DD if Eon Next don't come down to the cap and only apply a maximum 17p, this would reduce the electricity rates to 49.34p/kWh (an extra 17.1p/kWh compared to the cap rate of 32.24p/kWh)
So for v19 Online DD if Eon Next don't come down to the cap and only apply a maximum 17p, this would reduce the electricity rates to 42.15p/kWh (an extra 9.91p/kWh compared to the cap rate of 32.24p/kWh )
So for v18 Online DD if Eon Next don't come down to the cap and only apply a maximum 17p, this would reduce the electricity rates to 34.86p/kWh (an extra 2.62p/kWh compared to the cap rate of 32.24p/kWh).
Similar things happen to V20 and v19 if the gas unit price will only reduce by a maximum of 4.2p/kWh. V18 will take you to the cap itself.
Not at all sure why Eon Next have been unable to clarify this situation as I have already mentioned in another thread. Don't forget that as 1st October is a Saturday, the earliest you can change (if you wanted to) to the Flex cap will be Monday 3rd.
I shall give them another day before deciding what to do re scheduled move to V18 on Saturday 1st. In my case it won't cost very much (approx 20-25p/day) if I leave any changes till after October 1st but for those on say v20 this could cost them a little more say £1.50-£2.00+ per day depending on how much gas/leccy you use.