[MAW]

nothing like an accounting "loss" to avoid a windfall tax eh? Devil isnt in the detail, its in the politics

[meldrewreborn]

@MAW
None of us like the rates that we’re currently being charged - but there are few, if any, good alternatives at the moment. However, there is one way to reduce your bills, if you were to compromise on your opposition to Direct Debit, which many have been continuously suggesting.

[meldrewreborn]

@MAW

We are all entitled to our opinion, but as the windfall taxes apply ONLY to energy producers, not energy retailers/distributors like Eon Next, no such policy need to be adopted in the Eon Next financial accounts.

While you will readily appreciate this, I’m posting this to help others here who may not be as knowledgeable as yourself.

[MAW]

Think we all know that booking an accounting loss for the arm of the business that rips everybody off defelcts an awful lot of political scrutiny.

While you will readily appreciate this, Im posting to help others who may not be so knowlegeable such as your good self.

When is a profit not a profit? LOL.

Independent, 1 year ago.

"E.ON announces profits of more than £3bn amid cost of living crisis

E.ON has made profits of over £3bn in the last six months, amid a cost of living crisis that is gripping the UK.
The UK’s biggest energy supplier said that the results, spanning January to June, showed a 15 per cent fall in pre-tax profits.
They are projected for a full-year adjusted pre-tax profit of around £6.4bn to £6.6bn.
Households in the UK owe energy suppliers around £1.3m in debt as customers struggle to pay rising bills."

[JoeSoap]

@MAW

Can we just get to the nub of this? Do you benefit from the lower night rate of your electricity? You need to work out if you would be better off on a single rate tariff like the ones @Mailman and myself have posted. We all know you would be better off paying by DD but would you be better off on a single rate tariff? We are trying to help you to save some money here

[MAW]

Originally Posted by JoeSoap

@MAW

Can we just get to the nub of this? Do you benefit from the lower night rate of your electricity? You need to work out if you would be better off on a single rate tariff like the ones @Mailmanand myself have posted. We all know you would be better off paying by DD but would you be better off on a single rate tariff? We are trying to help you to save some money here

Thanks. Yes. I will trawl through all my previous meter readings, try and remember what I was doing back then, try and predict what I will do this winter to balance out a flat 24 hour rate versus a split day/night rate and then see what happens. Oh, I have, and I could be worse off, or I could be better off. No idea. The central heating works harder when its colder and as I switched my heating off most of last winter while I was on hold on the phone, I really have no idea.

One thing is for certain, the drop in unit price so far this year is roughly about the same as the £60 a month we got from the government.

Whilst I am being pithy here, I have actaully attempted such a theoretical calculation and it came to something like £6 a month difference.

Think I will be spending this winter in a warmer climate. It costs a bit more to do that. But not much.

I wont be spending it all at once.

Again, nobody with any type of tarriff should ever have to be paying 38p per KwH for electricty or 7p per KwH for gas in the current market conditions. Or antyhing close to that. Any more than about 24p/5p is a rip off in my humble opinion.

[JoeSoap]

Originally Posted by MAW

Again, nobody with any type of tarriff should ever have to be paying 38p per KwH for electricty or 7p per KwH for gas in the current market conditions. Or antyhing close to that. Any more than about 24p/5p is a rip off in my humble opinion.

All the way through this thread you, perhaps inadvertently, led us to believe you were being charged a much higher rate than the rest of us. Until late in the thread you made no mention of the fact that you had a dual-rate tariff which carried a cheaper night rate that compensated for that high day rate. You are no worse off than the rest of us except that we enjoy lower rates because we pay by DD, and as you know, that doesn't mean you have to build up any credit balance if you choose to pay by Variable DD.

[Mailman]

@MAW

Doing some backwards sleuthing you must be in the EASTERN region as the Next Flex tariffs correspond with the information you have posted earlier in this thread and you are on the Next Flex 'Eco 7' tariff for your electricity (i.e Economy 7) and Next Flex for your gas.


Thankfully no mistake on Eon Next's part it seems.

Your available options are therefore:

1. Stay on this current dual-rate tariff making as much advantage of your cheaper E7 night time rates.
2. Move to the single rate Next Flex PORB tariff taking advantage of 29.4p/kWh electricity for 24/7.
3. Move to a DD tariff taking advantage of lower rates for both utilities compared to POBR. Move to paying by Variable DD to eliminate the balance issue.
4. Move to a DD tariff and find a fix that would then be available to you such as 'Next Fixed 12m v3' (electricity currently pegged at 29.02p/kWh and gas at 7.04p/kWh both for 12 months) if price certainty is desirable. Again move to Variable DD to eliminate the balance issue.
5. Find another supplier (if one exists) that will give you the option of a fixed tariff POBR with DD pricing.

From what we have learned in the entirety of this thread you are not going to contemplate going to a DD payment structure and that is your choice so that eliminates options 3 and 4. Option 5 probably doesn't exist so is almost certainly a non-starter. That just leaves the first 2 options going forward unless you change your mind.

[MAW]

@Mailman

Thank you. Thats very informative.

[Mailman]

@MAW

👍 Re-read again as I made an edit about Variable DD in the options whilst you were posting.

Here are the rates for the DD fix as well.