Advice - fixed tariff coming to an end

littlefoot47

Hello,

I'm looking for some advice on what to do as my fixed tariff is coming to an end this month. I'm currently with Eon and pay about £40 a month

They've offered me another 12month fixed tariff, but the standing charge has gone from 10p to about 35p and the unit rate for electric has gone from 14p to 21p and gas 2p to 4p. So it's pretty much going to double what I pay now...
Obviously I can't even compare to other suppliers at the moment to see if I can get a better deal. 


I'm not sure if I should fix with this tariff, or just go onto their standard variable tariff and see how things are in a couple of months?
Would be good know how this compare to what others are being offered for fixed tariffs at the moment?

Any advice would be great - thanks!

Verdigris

The unit rates are slightly below SVP but the daily charge is quite a bit higher. If you are a high user the fix would work out best. If you're a low user then SVP would probably suit you better, although SVP is only fixed until April and it could go up a lot more.

Dogbyte009

It really depends on your appetite for gambling on prices continuing to rise.

Right now variable rate is the cheapest option but the govt cap is due to increase again in April. If you take a fix now you accept that you'll be paying over the odds for the next few months, however, you might be sitting pretty further down the line if prices go up further.

My fixed rate ends in November so I'll have the same decision in a few weeks.

Csheather

My British Gas tariff is due to end on 30th April. The cheapest tariff offered is an extra £20 per month, fixed for a year.
I'm not sure as to whether I should change now or wait till the end of April but then those tariffs currently on offer may have been withdrawn.

MattMattMattUK

Csheather said:

My British Gas tariff is due to end on 30th April. The cheapest tariff offered is an extra £20 per month, fixed for a year.
I'm not sure as to whether I should change now or wait till the end of April but then those tariffs currently on offer may have been withdrawn.

Remember that the "extra £20 per month" means nothing, you will be charged based on usage, the Direct Debit amount is not fixed, only the unit rates. You need to look at your estimated usage (based on previous 12 months, which will be on your bill) and work out what your costs would be on this fix, vs the SVR, decide how much you want to gamble based on the predictions for the October rise in the cap, then evaluate your appetite for risk. Ultimately there is no right answer. 

pochase

A new fixed tariff for just 20£ more is very unlikely. Alone the standing charge will have gone up by half of this.

Coming off a fixed rate I would expect to see your energy cost being in the region of double the current cost.

What rates are you paying now for gas and electricity per KWh, what are the standing charges?

Same for the fixed rate that has been offered to you. What region are you?

How much energy have you used the last 12 months, electricity and gas? And finally are you currently in credit or debit? 

Mstty

That tariff sounds like the best tariff for over 2 months so please share the name of it with EON so other customers can also get it.

I am however sceptical

However if it is real then jump on it like your life depends on it 

pochase

Mstty said:

That tariff sounds like the best tariff for over 2 months so please share the name of it with EON so other customers can also get it.

I am however sceptical

However if it is real then jump on it like your life depends on it 

The opening post is from October last year, so no recent deal. @Csheather is not the same user who has opened the thread.

victor2

Csheather said:

My British Gas tariff is due to end on 30th April. The cheapest tariff offered is an extra £20 per month, fixed for a year.
I'm not sure as to whether I should change now or wait till the end of April but then those tariffs currently on offer may have been withdrawn.

Welcome to the forum!
It is generally better to start your own thread, rather than tack it onto the end of an existing one. You are in the right area though. 
Makes it easier for others to contribute to the discussion if they see how it started and progressed.

Mstty

pochase said:

Mstty said:

That tariff sounds like the best tariff for over 2 months so please share the name of it with EON so other customers can also get it.

I am however sceptical

However if it is real then jump on it like your life depends on it 

The opening post is from October last year, so no recent deal. @Csheather is not the same user who has opened the thread.

Thanks missed that👍

pochase

I even would pay an exit fee to get that deal now.