Is it Time to move to a Fixed Tariff?

  • meldrewreborn's Avatar
    Level 91
    I've done some number crunching and have concluded the following. Most of the fix tariffs for my region show a near 6p per day decrease on the new April 1 price capped standing charge rates rates, which would be good. But the unit prices look a bit on the high side compared to the new price cap rates due from April 1. So whether one is a a high medium or low user comes into it and also where you live (for regional standing charge)

    The Next pledge guarantees me a saving compared to the price cap , and the benefit of predicted lower prices in Q3 and a more limited reduction (compared to to Q2) in Q4. There is an exit charge of £25 per fuel if I change supplier, But thinking of why I'd want to exit, it would only be if prices collapsed, and I'd get the benefit on the price capped rates. If prices went up I might want to leave but would i find any deal worth going for? So the likelihood of me exiting is low and I'd only pay the exit charge if I switched to a different supplier.

    So I'm learning (no not on a lamppost!) towards the next pledge tracker, but still anticipating some more movement before April 1.
    Current Eon Next customer, ex EDF, 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.
  • retrotecchie's Avatar
    Level 92
    @JoeSoap

    Yup. But if they do reverse the fees but don't recalculate the statement and recalculate the DD, at least that's next month's bill paid for 👍
    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.
  • retrotecchie's Avatar
    Level 92
    Well, the exit fee was reversed and I have been informed that my DD going out on 11th March will just be for the amount of my last bill. Shame they didn't issue a new statement, but never mind. And no tenner compo for the trouble, either. But it's sorted...that's job done 👍
  • Mailman's Avatar
    Level 58
    @meldrewreborn

    I now see that Next Pledge/Next Flex tariffs have the full and correct tariff information from April 1st (plus costing) for my region so that has been a recent change to the selection of tariffs offered in my account.
  • Andy65's Avatar
    Level 45
    I've just moved from the Next Loyalty Fixed V4 to Next Secure Fixed 12mV5. Although the SC have increased by 6p per day for both gas and electric on the 12mV5, my spreadsheet shows me a net saving of £6 per month over the Loyalty V4.
    The two Fixed No Exit Fee Tariffs and the Next Flex/Next Pledge Tracker were all more expensive for me than the Loyalty V4 that I was on.

    I did have 5 months left to run on the Loyalty V4 but I don't like the way standing charges are heading, particularly as a low user.

    As some of you have said, you can only be sure what's right for you by creating a spreadsheet using your own consumption figures. After reading other posts about being charged exit fees for switching from the Loyalty V4, I thought I'd phone up to switch to make sure I wasn't charged exit fees. The lady I spoke to said, quite rightly, that exit fees didn't apply for switching from Loyalty V4 but the system had a different point of view and duly debited £150 from my account. She said she wasn't allowed to reverse it and the 'dedicated team' would reverse it in the coming days.

    On a positive note my IHD now displays the correct tariff rates for the first time if months, not that I use it but as a matter of principle I expect it to be right.
  • Mailman's Avatar
    Level 58
    Ah right, so presumably the same version as me on NEXT SECURE FIXED 24M V2. Great... security in numbers... united we stand brother 😂
    @retrotecchie, @JoeSoap

    When you got the gubbins back from Eon Next once you switched I'd be interested to see what the specifics were for this tariff on any confirmatory emails you received after signing up.

    This tariff is still available for me, and at the same rates (albeit 'available for eligible customers'). Am I eligible or not that is the question? 😁
  • JoeSoap's Avatar
    Level 91
    @Mailman

    Next Secure Fixed 24m v2.

    This tariff comes with 100% renewable electricity and your prices are fixed for 24 months. You'll need to manage your account online - you also agree to have a smart meter installed where eligible. An exit fee of £150 per fuel will be applied if you change product or supplier before your tariff end date. Remember, paying by Direct Debit gives you cheaper prices than if you pay when you receive your bill.
    Your tariff info. (all prices include VAT)
    Tariff name Next Secure Fixed 24m v2
    Starts from 12:00 AM, 24th Feb 2024
    Electricity
    Unit rate 23.60p per kWh
    Standing charge 44.00p per day
    Gas
    Unit rate 5.99p per kWh
    Standing charge 29.60p per day
    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.
  • Mailman's Avatar
    Level 58
    @JoeSoap @retrotecchie

    Signed up today for the Next Secure Fixed 24m v2 tariff before it disappeared. It gives me 2 years of winter rate certainty for only a relatively small margin over some of the other choices available to me. Never had such a long fix before but, if my kWh usage numbers stay as they are, then it would work out at a shade over £100pcm. It may or may not be the cheapest option long-term but at least I will have 2 years of rate price certainty. Standing charges are much lower with this tariff so if offsets a slightly higher tariff. Exit fees are high at £150 per fuel but I'm not anticipating moving to another supplier. I'm happy with my decision and it starts on 1/4/24 when my current fix runs out so all good in that respect. Good interaction with Eon Next CS agent over the phone (only a 10-15 min wait) 😁
  • JoeSoap's Avatar
    Level 91
    @Mailman

    Welcome to the club 👍. I switched to that tariff for broadly the same reasons as you.
  • Mailman's Avatar
    Level 58
    @Mailman

    Welcome to the club 👍. I switched to that tariff for broadly the same reasons as you.

    I have a feeling that, with the lower SC of the tariff, this particular tariff will be pulled at or by 1st April. The exact £ numbers I get (assuming my yearly annualised advance stays as it is) are as below. Note that the EAC figures provided by 'the industry' reflect my actual usage pretty well although this is not always the case. The 'indicative' £ cost given by the Eon Next CS agent reflected the EAC figures for my account although the rates are what I am interested in . I will gain over the next 3 months (compared to some other tariffs such as Next Flex) probably lose during the lighter summer months and then we are into crystal ball gazing. 🔎

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    Last edited by Mailman; 28-03-24 at 15:59.