Looking like I should fix with EON Energy?

stokegal

Hi all,

Just looking for a sensor check that I have done my calculations right when comparing SVT v fixing with EON

My current fixed rate is up on the 2nd March and I have been offered a fixed rate on the below figures

- Midland based
- Electric usage last year 3663
- Gas Usage last year - 15007

(both examples include 5% VAT and the FR has no exit fees - I have until the 2nd March to move over)

Fixed rate offered
Electric
41.28 SC per day
26.59 per kw

Electric based on 3663 usage
41.68 x 365 = £150.67
26.59 x 3663 = £973.99

Total = £1124.66

Gas
42.31 SC per day
6.53 per kw

Gas based on 15007 usage
42.31 x 365 = £154.43
6.53 x 15007 = £979.95

Total = £1134.38

FR Total gas & electric combined = £2259.04

Now assuming the price cap for Midlands stays the same (which we know it is not likely to)

Electric
48.10 SC per day
27.87 per kw

Electric based on 3663 usage
48.10 x 365 = £175.56
27.87 x 3663 = £1020.87

Total = £1196.43

Gas
27.2 SC per day
7.48 per kw

Gas based on 15007 usage
27.2 x 365 = £99.28
7.48 x 15007 = £1122.52

Total = £1221.81

SVR Total gas and electric combined = £2418.24

IF rates were to go up an estimated 20% in October then my annual cost on SVR would be £2660.06

Both against a FR total of £2259.04

Either way it looks like I would be better off fixing according to my calculations.

Can anyone see anything that I have missed or worked out incorrectly? 

Thanks!

Verdigris

The calculations look OK. Just make sure you've accounted for VAT consistently. If there are no early exit fees it looks like a good (these things are relative!) offer.

stokegal

Thank you. Both figures have 5% VAT included in them. I have seen a few posts on here saying EON have offered them a deal. I’m presuming we have all be offered the same one (subject to localised prices)