So, I swapped to the Fixed Loyalty V4 on 12th July. Not usually one to fix, especially when prices are falling, I did some 'back of an envelope' maths and figured by switching, I could save a little money.
I'm in the South Wales region, despite being right on the border between North and South, and certainly don't identify as 'South'. Above average compared to the OFGEM 'average'.
I'm an electricity only 'low-ish user', because we aren't on mains gas in my part of the boonies.
I don't have (and won't have and can't have) a smart meter, so I use the time-honoured and proven method of tracking my energy usage using a spreadsheet and taking manual meter readings on a daily basis.
My rolling daily average consumption is almost exactly 8kWh per day.
I have modified my spreadsheet to calculate what my costs would be under the Next Flex rates and also the costs for the new fixed tariff.
Imagine my delight when I ran the numbers today and discovered that in only nine days since switching to the fix, I have saved the princely sum of.....£2.50.
Extrapolating that over the period until the next price cap change in October, that is a saving of just over £20 for the quarter.
If you are a dual fuel user with a higher daily consumption, then your savings could be significantly more. This has to be traded off against predictions that the new cap in October is very likely to be about the same as this fix, or maybe even a tad lower.
It remains to be seen if the fix was a good move, longer term, but for this cap period it's definitely a bit of a winner for me.
Thus far though, I'm a happy member of the V4 club. I might even have enough change out of my next bill to actually buy that Mars Bar 🍫 after all 🤞😉
I'm in the South Wales region, despite being right on the border between North and South, and certainly don't identify as 'South'. Above average compared to the OFGEM 'average'.
I'm an electricity only 'low-ish user', because we aren't on mains gas in my part of the boonies.
I don't have (and won't have and can't have) a smart meter, so I use the time-honoured and proven method of tracking my energy usage using a spreadsheet and taking manual meter readings on a daily basis.
My rolling daily average consumption is almost exactly 8kWh per day.
I have modified my spreadsheet to calculate what my costs would be under the Next Flex rates and also the costs for the new fixed tariff.
Imagine my delight when I ran the numbers today and discovered that in only nine days since switching to the fix, I have saved the princely sum of.....£2.50.
Extrapolating that over the period until the next price cap change in October, that is a saving of just over £20 for the quarter.
If you are a dual fuel user with a higher daily consumption, then your savings could be significantly more. This has to be traded off against predictions that the new cap in October is very likely to be about the same as this fix, or maybe even a tad lower.
It remains to be seen if the fix was a good move, longer term, but for this cap period it's definitely a bit of a winner for me.
Thus far though, I'm a happy member of the V4 club. I might even have enough change out of my next bill to actually buy that Mars Bar 🍫 after all 🤞😉
Last edited by retrotecchie; 20-07-23 at 10:47.
Don't shoot me, I'm only the piano player. I DON'T work for or on behalf of EON.Next, but am willing to try and help if I can. Not on mains gas, mobile network or mains drainage. House heated almost entirely by baby dragons.
