Eon says I will save money but I will pay more

[Deleted User]

st999 said:

I just got my bill from Eon and it states that if I changed from fix online v14 to fix online v32 I could save £41.80 on my electricity and £41.80 on my gas.

However if I use the tariffs on my spreadsheet I would actually pay £88.96 more per year.

Where does the savings of £83.60 come from?

Fix online exclusive v14

Electricity

365 @ 15.75 = £57.49

3067 @15.1305 = £464.05

                    total   £521.54

Gas

365 @17.955 = £65.54

13628@ 2.7951 = £380.92

                   total  £446.45

Total electricity and gas £967.99

fix online v38

Electricity

365 @ 23.233 = £84.80

3067 @ 16.344 = £501.27

                    total £586.07

Gas

365 @ 24.053 = £87.79

13628 @ 2.811 = £383.08

                    total £470.88

Total electricity and gas £1,056.95

Hi,

just done a CEC check and they have EON Fix Online Exclusive v37, 12 month,

Gas:

	2.621p per kWh
	9.876p per day

Elec:

	15.044p per kWh
	9.876p per day

that's better than your v38, though was that a 2 year fix?

MWT

I suspect the difference is that the one the OP quoted is 'Fix Online' and the CEC one is 'Fix Online Exclusive' so EON are not offering the exclusive switching tariff to their existing customers via the bill notes...

Highland76

Correct MWT, the cheapest tariff available for existing E.ON customers is their Fix Online v38. Of course this is a lot cheaper than their standard tariff but nowhere near as cheap as other tariffs from other energy co's if going via uswitch or MSE CEC.

MWT

That is one of the things I like about Octopus, as an existing customer you can switch to any of the 'exclusive' tariffs as well.

Just takes an e-mail and it is done. They follow the industry standard and will only include the non-exclusive tariffs in the notes on the bill as required by the regulators, but all the tariffs are freely searchable so if you see one you like you just have to ask...

st999

It would seem that my cheapest supplier is Scottish Gas Energy and Boiler Cover May 2021 so I will have to change to Eon's standard tariff to avoid exit fees see https://forums.moneysavingexpert.com/discussion/comment/75530050/#Comment_75530050 

MWT

Take great care with any of the tariffs that include other services like 'Boiler cover'...

You must remember to cancel the boiler cover if you don't want to continue paying for it after the 'free' period and remember it isn't enough to just move to a different tariff or switch to another provider, you have to explicitly cancel the cover...

oliverbrown

Gerry1 said:

Blame the useless Ofgem, it's the crazy way they say that 'savings' must be calculated.

Ofgem do not mandate how personal projections must be calculated: https://www.ofgem.gov.uk/publications-and-updates/decision-estimated-annual-cost-domestic-consumers

Gerry1

oliverbrown said:

Gerry1 said:

Blame the useless Ofgem, it's the crazy way they say that 'savings' must be calculated.

Ofgem do not mandate how personal projections must be calculated: https://www.ofgem.gov.uk/publications-and-updates/decision-estimated-annual-cost-domestic-consumers

https://www.theenergyshop.com/articles/inflated-savings-3

oliverbrown

Gerry1 said:

oliverbrown said:

Gerry1 said:

Blame the useless Ofgem, it's the crazy way they say that 'savings' must be calculated.

Ofgem do not mandate how personal projections must be calculated: https://www.ofgem.gov.uk/publications-and-updates/decision-estimated-annual-cost-domestic-consumers

https://www.theenergyshop.com/articles/inflated-savings-3

Seems like the article author is mistaken and needs to take a read of my link to Ofgem's actual guidelines.

Gerry1

Well, as far as I am concerned Ofgem are guilty because highly misleading comparisons are being given on their watch.  Ofgem also knowingly allow fake Economy 7 quotations to be given by many suppliers who don't ask for the night usage consumption and assume an inflated amount which makes their so-called "quotation" much cheaper than the reality will be, seriously disadvantaging their honest competitors.