Thanks for the updates
If the standing rates are expected to stay the same and a higher unit rate drops to at least the capped rate and any lower stay lower I think it should roughly balance out but suspect more likely in the bigger picture I’ll lose out from the higher rates since June
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.
I think that depends on your usage. Assuming you have a gas boiler and didn't use much over the summer, then having a lower rate over the winter because of the fixed tariff might work out better overall.
I'm also on Next Online v14 - these are my rates in Yorkshire
Electricity
Next Online v14
Fixed term ends 26/05/2023
37.71 p/kWh 48.53 p/day
(All rates inc. VAT)
Gas
Next Online v14
Fixed term ends 26/05/2023
9.78 p/kWh 27.22 p/day
(All rates inc. VAT)
So pretty much the same, just the electricity unit rate is higher compared to the EPG price cap. Assuming this drops to at least the cap level (still no news on this), I'm hoping this will slightly reward taking the risk of fixing a few months ago.
The EPG doesn't affect the standing charges, and these are still limited by the OFGEM announcement at the end of August. Nothing has been announced, but I expect OFGEM to continue to settle standing charges every 3 months. October's rates are slightly up on April's but not by that much, compared to the increases in the price of units. Eventually, the electricity standing charge might come down when the supplier of last resort costs drop out of electricity standing charges next April. Oh look there goes another flying pig!!
@andydragon I'm on "Online V14" until June 2023. Northern Region rates. The comparison between it and the EPG October rates are: EPG - Northern Region Online V14 - Northern Region Gas ...........UR 10.19..................UR 9.73 ..................SC 28.49..................SC 27.22 Electricity....UR 32.24..................UR 37.44 ..................SC 49.93..................SC 48.91
The only rate for V14 which is above the EPG rates is the Electricity UR (Unit Rate). Based on the all the info I have read (which I still find poorly explained) I have assumed that the UR will decrease to the EPG rate of 32.24 from 37.44. The rest willl stay "as is" as they're below their counterpart rates. No doubt my optimism will be proven wrong. My suggested DD payment amount has been adjusted from £62 to £57 (yes, I'm an extremely low user) and the DD to be taken from October is now £0 (as it's below the £66 EBS payment) so it looks like something's changed. Like everyone else though, no details provided by EON.
Hope the rate details above help in some way. And apologies to GlacierUK - didn't see the post showing the rates.
Thanks for the updates. I don’t know exactly which supply region I’m in, Gloucester but i think it’s the electric unit price that will change, all other should stay the same as I understand as they are standing charges or lower unit but the lack of communication (apart from saying it’s dropping due to the extra £67) has been zero
I think that depends on your usage. Assuming you have a gas boiler and didn't use much over the summer, then having a lower rate over the winter because of the fixed tariff might work out better overall.
I'm also on Next Online v14 - these are my rates in Yorkshire
Electricity
Next Online v14
Fixed term ends 26/05/2023
37.71 p/kWh 48.53 p/day
(All rates inc. VAT)
Gas
Next Online v14
Fixed term ends 26/05/2023
9.78 p/kWh 27.22 p/day
(All rates inc. VAT)
So pretty much the same, just the electricity unit rate is higher compared to the EPG price cap. Assuming this drops to at least the cap level (still no news on this), I'm hoping this will slightly reward taking the risk of fixing a few months ago.
Update: My dashboard today shows the electricity unit rate has reduced to 33.03 p/kWh. Everything else has stayed the same
This is how I think it works. The price cap figure allowed by OFGEM for Yorkshire was 48.45 by my own calculation from the OFGEM tables. My calculations have proved accurate in previous OFGEM releases. The EPG reduces this by 17 to 31.45, and VAT increases it to 33.02. This becomes the fix tariff floor rate and the Variable EPG rate. A bit of rounding and your dashboard is correct, but your 33.71 figure is a bit bold.
But thanks for posting as I now have confirmation by example of the steps involved. I will now up date my spreadsheet and be able to post the rates for all 3 payment methods and both fuels, standing charges and unit rates.
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