[Nakatomi]

I recieved and email telling my tarrif runs out next month but during my current tarrif they dropped the amount from £220 to £180 Im thinking great thats brill. But I noticed my credit was going down???. But I was still paying £216 but they were taking it away from my credit and I was stupid and didnt check so now I was at £300 I'm down to £190

My concern is the new tarrif they are offering are lovely low around £180 but I don't think that will be building up my credit for Winter?

The standing Electricty charge is crazy on them all currently Im on 49p per day their now 68p per day. Its hard enough with my Son disabled who needs a ventilator on 24/7 to actually live and all of his other equipment on charge so I can go out for appoitnments or take him out to get him out of his room.

Now no matter which I choose their all the same in daily charges but Ive no idea which one to actually choose

[DebF_EONNext]

Evening @Nakatomi how are you?

Are you on a variable direct debit by any chance? 🤔 Generally if you pay by this method if you have credit on your account this will be used up first rather than taking a payment from your bank account.

If you are and would prefer to be on a fixed amount then you can speak to our energy specialists and they will be able to sort out a regular monthly payment with you 😊

Also have you been added to the priority service register Nakatomi as this would certainly be worth looking in to especially if your Son relies on a ventilator as you will be a high priority if there was ever to be a power cut etc.

[JoeSoap]

@Nakatomi

The monthly direct debit amounts shown in the illustrations of the tariffs available to you are based on your estimated annual consumption (EAC) divided by 12. Is the annual consumption shown on the illustrations realistic?

You can use your EAC to work out your estimated annual cost on your current tariff and compare the monthly cost to what you are seeing on the tariffs on offer.

As to why your credit balance is going down currently whilst you are overpaying, I don’t know. Are your statements based on actual monthly readings or are they estimates? You haven’t provided enough information to allow accurate answers.

[meldrewreborn]

@Nakatomi

while you have been on a fixed tariff standing charges have risen, but unit charges have dropped a lot so overall bills are down.
in considering another fix going forward, one has to guess what is likely to happen to prices in the future, which is almost impossible. But if you think prices are likely to rise then go for a long fix and if you think they’re likely to fall go for a discounted variable tariff.

energy bills change due to prices and consumption levels, and account balances will change due to overall bills and payments in. But basically getting the tariff right is the thing to focus on. If the tariff has zero escape penalties then risk of getting trapped on a less optimal tariff is reduced.

[Nakatomi]

Originally Posted by meldrewreborn

@Nakatomi

while you have been on a fixed tariff standing charges have risen, but unit charges have dropped a lot so overall bills are down.
in considering another fix going forward, one has to guess what is likely to happen to prices in the future, which is almost impossible. But if you think prices are likely to rise then go for a long fix and if you think they’re likely to fall go for a discounted variable tariff.

energy bills change due to prices and consumption levels, and account balances will change due to overall bills and payments in. But basically getting the tariff right is the thing to focus on. If the tariff has zero escape penalties then risk of getting trapped on a less optimal tariff is reduced.

Whats availble for me is

Next Secure Fixed 12m v14

and

Next Pledge Tracker 12m v5

Top one has exit fees of £50 each but £179.50 per month and will be fixed

Bottom one is £167.15 but with no exit fees but I assume because it's not fixed it would go up and down depending on the market????

I'd probably go for the top one as I am paying that in cash the rest is coming off my credit, I really dont know which one to choose

There are many more as well theres even a 2 year fixed but thats £193 with £100 exit fees

[meldrewreborn]

@Nakatomi

the important thing is to make a decision that suits your finances and then recognise that when the contract is over that there might have been a different option that eventually delivered lower costs but that it’s impossible to know future events with any precision.

the next pledge tracker guarantees you’ll pay less than the price cap - that’s not to be discounted Easily. @DebF_EONNext - can you tell us why the discount on the pledge tracker is delivered through an adjustment to unit prices (which favours large consumers @JoeSoap to note) rather than via standing charges which would treat all customers equally?

[JoeSoap]

Originally Posted by meldrewreborn

... which favours large consumers @JoeSoap to note...

I'm not sure what constitutes a large consumer but I'm certainly above average. My trusty Bright App, only available to me due to having wonderfully functioning smart meters, tells me that my best daily consumption over the last week was just under 12kWh of leccy and just over 20kWh of gas. My best day saw me charged a little under £5 for both fuels.

I always favour fixed deals over variable and am currently on Next Secure Fixed 24m v2 that I'm reliably informed no longer has any internal exit fees in spite of me signing up to them to the tune of £300 👌

[meldrewreborn]

@JoeSoap

the Next pledge tracker guarantees to be cheaper than the price cap by discounting unit prices by £50 for an average consumer. But low users get less and large users get more, which I accept but find puzzling. It would make more sense to me to discount the standing charges to deliver the same reduction for all customers. The devil as always is in the detail and at least now we have some options.

[JoeSoap]

Originally Posted by meldrewreborn

@JoeSoap

the Next pledge tracker guarantees to be cheaper than the price cap by discounting unit prices by £50 for an average consumer. But low users get less and large users get more, which I accept but find puzzling. It would make more sense to me to discount the standing charges to deliver the same reduction for all customers. The devil as always is in the detail and at least now we have some options.

I understand what you are saying but, even as a higher than average consumer, Next Pledge is unappealing to me. However the discount works, the tariff isn't compulsory and I can't say I really have an opinion on it. It all comes down to choice in the end and I choose a fixed rate (with a fixed monthly DD) over a discounted variable rate. Long live choice.

[retrotecchie]

Originally Posted by meldrewreborn

@JoeSoap

the Next pledge tracker guarantees to be cheaper than the price cap by discounting unit prices by £50 for an average consumer.

Actually, £25 per fuel, so if you only have gas or electricity, then that's half the saving.

The discount only applies to the unit prices and if that's £25 over a year, they'd need to know how much you use to be able to calculate that discount. I'm assuming they are basing the £25 on that often-used mythical 'OFGEM average' so if you use less than the average, you will save a little less and if you use a little more than the average you will save a little more.

I manage to fix on a reasonably low SC before they shot up and with decent unit prices still a tad lower than the current unit cap and being a relatively 'below average' electricity only user, the Pledge tariffs just didn't make any sense for me at all.