Eon price protection April 2014

Skeksis

I've been looking at switching to this new capped tariff from the existing standard electricity only Eon plan I'm currently on. The blurb states that 'you’ll never pay more than the price you sign up to and you could pay less if our Standard prices fall'.

Does this mean that I would go straight on to the new capped higher price, which is a good 7p/kWh more than my existing tariff for the first 900kWh day units/year, and that the only benefit to me would be if the standard prices rose above the capped price?

WatlingA5

That's certainly the way I read it....

macman

Yes. You are simply buying an (expensive) insurance policy which you may never need to claim on.
But if you want that peace of mind then it may be worth it for you.

Skeksis

Cheers both!

E.ON_Company_Representative:_Helena

Hi Skeksis,

As Price Protection April 2014 is capped you wouldn't see any price increases for the period of the tariff, but if the prices decrease this would be reflected in your unit costs.

macman is correct, that some customers do prefer to have peace of mind in the fact that their unit price won't rise.

It just depend on what you prefer.

If you would like any more info, just let me know I will be happy to help.

Helena

sjk66

Could look at the 7% rise another way; if you pay by Direct Debit, its only a 1% increase, after the 6% discount.