Hi. I renewed into the Next Online v17 tariff on 4th August, with the below unit prices. Just hoping for some advice as to whether I should stay on this plan or switch to the standard variable one? Nothing I can see when signing into my e.on account seems to imply that any price cap savings will be passed on for existing Fixed rate tariffs that exceed it, which is slightly worrying. I'm starting to wonder if I should have switched off this as soon as the cap was announced. I'm in the West Midlands if that helps.
Electricity
Next Online v17
50.73 p/kWh 48.13 p/day
Don't do anything would be my advice. Your tariff will be automatically adjusted by the billing system.
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If you wait until the new rates are available you will have definite information. then you can compute the figures properly. You can exit Eon next fixed tariffs at any time penalty free.
It is possible that one of your standing charges under the fix could be lower than on the variable. your mix of fuel use could affect the calculation.
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 too switched to v17 a couple of days after you did. I expect that the rates of v17 after 1st October will be close to the EPG. I have chosen to wait and see what we get. It’s possible we will be compensated back to the date we fixed.
For what you might save by switching now compared to what you might gain in a few days, I would avoid the hassle of trying to contact customer service and just sit tight.
I'm an Eon Next dual fuel customer with no particular expertise but have some time on my hands that I am using to try and help out a bit.
Hi. I renewed into the Next Online v17 tariff on 4th August, with the below unit prices. Just hoping for some advice as to whether I should stay on this plan or switch to the standard variable one? Nothing I can see when signing into my e.on account seems to imply that any price cap savings will be passed on for existing Fixed rate tariffs that exceed it, which is slightly worrying. I'm starting to wonder if I should have switched off this as soon as the cap was announced. I'm in the West Midlands if that helps.
Electricity
Next Online v17
50.73 p/kWh 48.13 p/day
Gas
Next Online v17
12.89 p/kWh 27.22 p/day
The terms of the EPG state that the reduction in fixed tariffs will be circa 4p/kWh (Gas) and 17p/kWh (Elec) down to no lower than the SVT rates which, for your region (Midlands), are detailed in Regional Rates/SC from October 1st
So the SVT floor, for your region looks to be 32.76p/kWh (E) and your v17 tariff will reduce by approx 17p/kWh down to just above the cap @ 33.73p (50.73-17). So say 3000kWh of electricity over a year will cost you £29.10 more than the cap. For (G) your 12.89p will only reduce to the cap itself @ 10.33p so no difference. Your SC though for both utilities are both a little less on v17 than the cap. So you need to crunch some usage numbers and factor in the standing charge difference to determine which is cheaper overall.
Last edited by Mailman; 27-09-22 at 21:18.
Reason: word deletion
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