Is it Time to move to a Fixed Tariff?

  • Mailman's Avatar
    Level 58
    There was a small piece on the ML programme last night which was interesting from an Eon Next point of view, talking about the 'projected' yearly % change in energy costs on dual tariff for a typical household (the usual stuff). A yearly drop of 17% on the SVT was projected (with all the usual caveats) from 1st April 2024- 31st March 2025 see MSE Article.

    ML mentioned a few fixed-price tariffs circa 12% lower overall so obviously very tempting for customers that want price certainty. The table in the article linked also mentions 2 Eon Next tariffs - Next Fix 12m v9 (this fixed tariff, with exit fees is12% lower but classified as 'Borderline') and Next Pledge (3% lower than every cap, with modest exit fees and classified as COULD be worth considering). I see both these tariffs in my list of 'Pick Your New Tariff' choices as I am coming to the end of an existing fixed tariff. There is another interesting 'special offer' choice 'Next Assured Fix 15m v1' but this appears to be just for customers in the last 45 days of a current fix as I could not see it in the list of available tariffs for my region. Of course there is also Next Flex (no exit fees) to think about for customers averse to exit fees/possibly thinking of changing supplier/home in the near future.

    Which is going to be the cheapest? All of them could be. Which one does one choose? It depends on the individual circumstances of the customer, whether you want an exit-free tariff, what your attitude to risk is and/or whether you want unit price certainty. Not a decision that Eon Next can make or should make for their customers (whether they consider themselves enlightened or not) but they can and do suggest that customers at least think about the choices available to them.

    As with other threads it is imperative that a customer does their own calculations ideally based on 12m/24m AACs (accurate annual consumption) figures (based on actual meter reads-smart and/or customer) or EACs (Estimated Annual Consumption - available on bills) if the former is not available. I would never rely on potentially flawed Eon Next cost projections before lower price caps are about to be announced (as they are this week) because they have most impact on the tariffs that will shortly change with the cap - Next Flex and Next Pledge.

    Not got the skills to do this? Plenty of folk on this forum are able to quickly work out annual projection costs so long as the tariff information costs are included and the AAC/EAC figures.

    From my own perspective I shall look at the data for the forthcoming April price cap when it is released (no later than Friday 7am this week seemingly) and then start crunching numbers on a spreadsheet with the different tariffs mentioned above. I won't make any decisions until the last possible moment in case more products are released by Eon Next before March 31st (when my present cheap fix ends).
    Last edited by Mailman; 21-02-24 at 10:46.
  • 87 Replies

  • JoeSoap's Avatar
    Level 91
    @Mailman

    Here's my Special Offer (Eastern Region) and I'm a a good few months away from renewing...

    Your special offer

    Next Secure Fixed 24m v1

    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.

    Electricity... 24.14p/kWh with 44.0p SC

    Gas... 6.12p/kWh with 29.6p SC


    Better rates than my current fix but although tempting, I'm still sitting on my hands for a bit longer. I hope I don't regret it.
    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.
  • Johnh1995's Avatar
    Level 18
    @JoeSoap
    The exit fee of £150 per fuel for changing the product before the tariff ends is a bit steep. Changing supplier fine, but it's a bit much if you suddenly find a new Eon tariff
  • Mailman's Avatar
    Level 58
    @JoeSoap

    Interestingly Eon Next only offer me a comparable (but slightly more expensive) Next Fixed 24m v8 although I do see your Secure Fixed version when I search the available tariffs for my region. 🤔
  • JoeSoap's Avatar
    Level 91
    @JoeSoap
    The exit fee of £150 per fuel for changing the product before the tariff ends is a bit steep. Changing supplier fine, but it's a bit much if you suddenly find a new Eon tariff

    Exactly. My current exit fees are only if I change supplier so I've got one roll of the dice to get it right.
  • meldrewreborn's Avatar
    Level 91
    @JoeSoap

    I'm fairly clear that the lowest fix price deals come with exit fees that virtually bring the prices back close to any non exit fee options available if seen through fully.

    So if one were to go for a fixed deal with exit fees and general prices fell sharply part way through the contract, one could pay the exit fee to get out, but one would have had the cheaper prices in the interim, and one would only switch if the saving in the remainder of the first fix was bettered by more than the exit fee to be incurred. This implies the fall in general prices would have to have been very large indeed to make that viable financially.

    The longer the contract, the more likely a premature exit might be attractive, and I Imagine that those with greater than average consumption 😎 would be most likely to be able to benefit from such a move.

    The old saying of "a bird in the hand is worth two in the bush comes to mind".
    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.
  • JoeSoap's Avatar
    Level 91
    @JoeSoap

    Interestingly Eon Next only offer me a comparable (but slightly more expensive) Next Fixed 24m v8 although I do see your Secure Fixed version when I search the available tariffs for my region. 🤔

    I don't know what they're up to by offering us different tariffs. Hopefully they are the tariffs that are best for us (the customer) in our regions. 🤔
  • JoeSoap's Avatar
    Level 91
    @JoeSoap

    I'm fairly clear that the lowest fix price deals come with exit fees that virtually bring the prices back close to any non exit fee options available if seen through fully.

    So if one were to go for a fixed deal with exit fees and general prices fell sharply part way through the contract, one could pay the exit fee to get out, but one would have had the cheaper prices in the interim, and one would only switch if the saving in the remainder of the first fix was bettered by more than the exit fee to be incurred. This implies the fall in general prices would have to have been very large indeed to make that viable financially.

    The longer the contract, the more likely a premature exit might be attractive, and I Imagine that those with greater than average consumption 😎 would be most likely to be able to benefit from such a move.

    The old saying of "a bird in the hand is worth two in the bush comes to mind".

    Decisions, decisions 🤔
  • JoeSoap's Avatar
    Level 91
    How much easier was it when Eon Next didn't apply exit fees? I always thought it was too good to be true and clearly it became just that.
  • meldrewreborn's Avatar
    Level 91
    @Mailman

    Here's my Special Offer (Eastern Region) and I'm a a good few months away from renewing...

    Your special offer

    Next Secure Fixed 24m v1

    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.

    Electricity... 24.14p/kWh with 44.0p SC

    Gas... 6.12p/kWh with 29.6p SC


    Better rates than my current fix but although tempting, I'm still sitting on my hands for a bit longer. I hope I don't regret it.


    Here's my comparison of your fix offer to current variable prices for the eastern region. By reducing units more than the standing charge the offer is more attractive to heavier user of energy 😎.

    Name:  fixcomparisonfeb24.PNG
Views: 3362
Size:  7.0 KB

    EDIT My Apologies the comparison here is with non DD current pricing - so basically not worth even looking at - sorry.

    Last edited by meldrewreborn; 21-02-24 at 12:41.