Switching Tariffs

mariners88

I have recieved an email form EON Next informim gme it's time to switch tariffs. My current traiff (£80 per month) expires on 22 Feb 22, they have offered me the tariff Next Flex (£95 per month). This is, as the name suggests, a flexible tariff it appears only to be felxible for them! Should I switch or wait it out?

MaryNB

Is the Next Flex their version of the standard variable tariff? As in, is it subject to the government cap? If so it may be your only option. If you're not sure just let your tariff expire and you'll be moved onto on the standard variable.

Standard variable tariffs are flexible for customers because unlikely many fixed tariffs there are no exit fees. But yes they benefit energy companies because they can put the prices up. However unlike fixed tariffs, the standard variable is subject to a cap which is crippling a lot of energy providers at the moment. 

Bear in mind the standard variable tariff is likely to increase by 51% in April but I'm not sure you'll find another fix that will be cheaper than that. 

Astria

mariners88 said:

I have recieved an email form EON Next informim gme it's time to switch tariffs. My current traiff (£80 per month) expires on 22 Feb 22, they have offered me the tariff Next Flex (£95 per month). This is, as the name suggests, a flexible tariff it appears only to be felxible for them! Should I switch or wait it out?

Surely that depends on the rate of the tariff, exit fees, etc, whether it's useful for you?

frederick1950

Your tariff isn't £80/month , that's your averaged out direct debit.
Post your usage figures in kwh and someone will no doubt advise you.

jbuchanangb

Next Flex is their Standard Variable Tariff. It is generally recommended that the best thing to do at the end of a fixed tariff period is to move to the supplier's SVT, so that's what you should do. The monthly payment is nothing to do to with the tariff, other than indirectly, in that because the energy you are expected to use over the next 12 months will cost more than the same amount of energy used in the last 12 months, you will need to pay more every month. Be aware that on 1 April the Next Flex tariff is expected to increase by about 50% so you can expect the DD amount to increase to about £140.

booshya

mariners88 said:

I have recieved an email form EON Next informim gme it's time to switch tariffs. My current traiff (£80 per month) expires on 22 Feb 22, they have offered me the tariff Next Flex (£95 per month). This is, as the name suggests, a flexible tariff it appears only to be felxible for them! Should I switch or wait it out?

They have at least one fixed term tariff if you prefer and can afford it.
I'm sure they would have advised you of it.

Welcome to MSE.

Have you looked at a comparison site to see if you should switch?