I signed up to a fixed deal on 1st August for 1 year with no early exit fees. I now find I am paying more per kWh for electricity than the price cap brought in 1st October. Would I be wise to exit the deal to go on the variable tariff that the price cap has set. The gas charges are about the same on fixed or price cap.
Fixed deal versus price cap
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- price cap
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Level 5925-10-22
It depends on what tariff you are on and it depends on what Eon Next are going to do with fixed tariffs. In another thread Eon Next have stated that reductions will take unit tariffs all the way to the same as the cap levels and we are awaiting definitive news about this (should have been last week BTW). Another day or two should see the EPG fixed tariff conundrum being settled once and for all so that we can make an informed decision.
I am on v18 BTW which now sits, after EPG reductions, sightly above the Next Flex electricity rate so I'm waiting until I hear something definitive.Last edited by Mailman; 25-10-22 at 21:48.
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Level 9125-10-22@bree
First of all have a read of the following link…
https://www.eonnext.com/electricity-and-gas/energy-price-guarantee
… where it suggests those on fixed tariffs will pay no more than the EPG rates. This may not yet be showing on your account as things are taking time to update.
Take note of the bit that says the EPG is only guaranteed until April 23 so from then, if you switch to Next Flex, you may find your rates rise considerably. By staying with your fix they would revert to your original fix rates until the end of your fix in August.
Nobody knows for sure what’s going to happen in April but you may be better sticking where you are.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. -
Level 9125-10-22@bree
Further to my last post… If, come April, the (then) Next Flex rates are better than your (then) fixed rates, you could switch at that point.
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