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MSE News: E.on to hike energy prices by 3.7%

Former_MSE_Darryl
Posts: 210 Forumite
in Energy
"E.on is to hike energy prices by an average of 3.7% from 18 January, becoming the last of the big six power suppliers to announce an increase in its charges..."
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E.on to hike energy prices by 3.7%

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E.on to hike energy prices by 3.7%

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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So when an energy supplier increases its prices by 3.7%, it's a 'hike', but when the Government increases the ISA allowance by 3.1%, it has been 'nudged' up?
Right team, we're obviously narrowing down on MSE's 'hike threshold', a few more announcements and we'll have it ...0 -
10% is a hike, 3.7% is more like a gentle strollNever under estimate the power of stupid people in large numbers0
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There are also changes to Eon's rewards that they were paying, it seems to me the prices have gone up and they have stopped the rewards so perhaps the increase is even more than they are saying.0
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Totally agree Blackdog!
More like double or treble the headline rate with changes they have made to Loyalty, rewards and the ending of percentage discounts. All in order to "simplify the tariffs and make them easier to understand"!!
Was thinking of staying with them but maybe walkies to the coop 2 year fixed deal!0 -
I dunno. This kinda "hike" actually seems pretty similar to the wholesale price increase ie: it's not 9 or 10% like others. So it's actually kinda "fair" Though as usual, switch and ditch if it's not the cheapest
(Or stay if you don't like x company etc... )
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matelodave wrote: »10% is a hike, 3.7% is more like a gentle stroll0
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There is one glaring omission from the advice
"Q. OK, So do I just switch to one of those?
A. Hold your horses, there are a few more things to know first.- ALWAYS do a comparison. Who's your winner and how much you can save depends on your usage and region. Don't just rely on the tariffs above – you should do a comparison – our free Cheap Energy Club will compare the market to give you the cheapest tariff tailored for you.
- Is it worth fixing? If the comparison shows you can save and get certainty, it's a no-brainer. Others on a cheap tariff may need to pay more to fix. Only a crystal ball will show you whether this is right or wrong. So you need to decide based on your attitude to prices. The more big price rises would hurt, the more seriously you should consider fixing.
- You could be due a lump sum. If you're in credit when you switch, your old provider needs to give you cash (put it aside, winter's coming, so usage is higher). If you're in debt when you switch, if you're on prepay, you can switch if the debt's £500 or less. If you're on a credit meter, it varies by supplier and payment method. British Gas and Scottish Power told us you'd need to pay off the debt before switching away. The other big six suppliers may let you switch then pay it off.
- Check if you can take the fixed deal you're after to a new home if you move.
A. No. Switch, and you keep the same gas, electricity and pipes. Only service and, crucially, cost changes. Yet it will take two months to switch across, which is why doing it now before big winter bills is so crucial. These days, switching is pretty simple, but, of course, for some there can be hassles.
There are two types of tariff to choose from. A variable tariff where prices can rise, and a fixed where they don't. Variables can be cheapest, but if you want certainty, for not much more, you can prevent price hikes. "
This is all good stuff, but where is the usual caution that all suppliers are NOT created equal? For example Npower's computer system simply doesn't work, to the extent they have agreed with Ofgem to write to ever affected customer.
Spark Energy are IMO the worst supplier I have ever encountered and are I believe being investigated by Ofgem (bit like being savaged by a dead sheep but that's a whole other story) and First Utility I have also heard are hit and miss.
You might be one of the lucky ones, not every Npower customer has had issues, but beware if something does go wrong the forecast savings may be forth less than your time and effort.
I am not saying don't switch, I AM saying check out the customer service ratings, and if there is only a few pounds in it (all else being equal) cheapest may not be best...0 -
undercover_peon wrote: »[...]
This is all good stuff, but where is the usual caution that all suppliers are NOT created equal? For example Npower's computer system simply doesn't work, to the extent they have agreed with Ofgem to write to ever affected customer.
Spark Energy are IMO the worst supplier I have ever encountered and are I believe being investigated by Ofgem (bit like being savaged by a dead sheep but that's a whole other story) and First Utility I have also heard are hit and miss.
You might be one of the lucky ones, not every Npower customer has had issues, but beware if something does go wrong the forecast savings may be forth less than your time and effort.
I am not saying don't switch, I AM saying check out the customer service ratings, and if there is only a few pounds in it (all else being equal) cheapest may not be best...
You read your meters, you monitor how much you are using once a month and how much you are paying.
Anything happens, if not solved with a single phone call then you simply and calmly use written communication. Problem solved and in many cases an extras £25 or more for the trouble.0 -
Some 3 weeks ago I entered into a 2 year fixed rate contract with e:on, today I receive a letter informing me that my tariff no longer exists and therefore they have moved me onto a more expensive tariff. The other, 'simplified', options were all more expensive so am I to understand that I have to take this lying down? How is it fair that I have entered into a binding contract ( had I cancelled I would have incurred a £20 penalty ) which means nothing and that the provider can move the goal posts at any stage without penalty?
I'm furious!
Any advice would be gratfully received. Many thanks in advance.0 -
There are also changes to Eon's rewards that they were paying, it seems to me the prices have gone up and they have stopped the rewards so perhaps the increase is even more than they are saying.Possetjohn wrote: »Totally agree Blackdog!
More like double or treble the headline rate with changes they have made to Loyalty, rewards and the ending of percentage discounts. All in order to "simplify the tariffs and make them easier to understand"!!
Was thinking of staying with them but maybe walkies to the coop 2 year fixed deal!
Hi
Just to let you know, the rewards/discounts etc haven't all stopped. It's that they'll be paid in a different way.
Instead of percentage discounts, we're making deductions in £s.
For instance, on our new tariffs, the former 6 per cent Monthly Direct Debit discount will now be paid as a reduction of £35 per fuel per year. This will be taken off the standing charges.
There's also cash deductions for taking both fuels and having paperless billing.
We have, though, stopped the loyalty reward paid previously. However, customers currently receiving this as part of their existing tariff will be paid what we owe for the rest of the contract in one go.
Hope this is of interest.
Malc“Official Company Representative
I am an official company representative of E.ON. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"0
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