Eon Next Online v11, Fixed 1 Year at Apr 22 Rates

rpriyank007

I c_smith said:

If anyone has signed up to EON Next Online v11, can you set the date you want it to transfer from the variable Next Flex?  I don't want to sign up to it prior to 1st April when the price rise comes into effect for obvious reasons. 

I did. I called them up and arranged to start from 1st April 

sheffieldeagle

SMcGill said:

If you’re looking to fix with EonNext, remember that the 2 yr fix offers a discount for paying for DD while the 1 year doesn’t. I had to call to find out what the discount is - it’s 5% per fuel, so 10% total. Worth doing the maths to figure out which is actually cheaper for you as neither of them have early exit penalties.

How do you workout the discount I'm assuming it's not just a matter of applying the 10% to the years total cost?

Many thanks

spot1034

rpriyank007 said:

I have strong reasons to switch to a fixed account (at least for a year) as follows.
1. Council tax refund of £150 in the month of April to aid the energy prices
2. £200 credit from the government which will be repaid over the coming years automatically. 
3. Since the invasion of Russia on Ukraine, today the oil prices increased by 40% in just one day. Russia is the third-largest provider of oil to the European market. The invasion has already seen a knock-on impact.
4. If you hear Martin Lewis, with the recent developments he has changed his 'stick to variable tariff' rule and is confident that there will be a cap price increase in October.   

If I think about all these factors, I'd consider switching to a fix tariff for one year until everything settles down hopefully. The current Flex variable tariff and the fixed one is exactly the same with a No-exit fee. 

All the energy providers have increased in standing charges. There is currently no cheaper provider in the market. With the pace small energy providers are getting busted, I wonder it is best to be with the Bug-5 providers. 

I assume you mean the gas price increased by 40%, not oil. The oil price did go up, but only by a small percentage and has lost pretty much the same percentage  today.

Today, gas futures for the next few months have also dropped, by about 30%. This often happens where you get a sudden spike and then a correction, but of-course it is less newsworthy or should we say sensational when a large increase is immediately corrected, so it is often not reported in the same way. 

Still well ahead of last week of-course.

I am unsure of the relevance of your first two points about the council tax credit and the £200 'loan', as these are not affected by what sort of energy contract you have.

daz378

Yea  I fixed for a year on eonnext   only 12 pound more  a month than what I'm paying now....

SMcGill

How do you workout the discount I'm assuming it's not just a matter of applying the 10% to the years total cost?

Yes that’s what they said when I called them and asked what it was. The price quoted on my account profile didn’t include the discount, which is a bit daft really as I think it misleads people into thinking it’s more expensive than it really is.

My online profile is now showing it at the correct, discounted cost.

sheffieldeagle

SMcGill said:

How do you workout the discount I'm assuming it's not just a matter of applying the 10% to the years total cost?

Yes that’s what they said when I called them and asked what it was. The price quoted on my account profile didn’t include the discount, which is a bit daft really as I think it misleads people into thinking it’s more expensive than it really is.

My online profile is now showing it at the correct, discounted cost.

Many thanks for this. I've emailed them and they are saying both the 1 year and 2 year fixes come with a D/D discount and the quoted costs on the email match with the online quote.

How did the two compare for you?

Cheers

mattgod69

i too got the email for this and signed up online fixing it for one year.  It was a no-brainer because the tariff is fixed and there are no exit penalties.  I didn't think to phone and trying get into starting from 1 April but I may try next week.  I didn't even see any option forward to fixing it for two years.  Was this on the same page when viewing the fixed tariff?  I think after the recent events, energy prices are only going to go one way, at least in the short-term.

SMcGill

How did the two compare for you?

The 1yr fix price was based on payment by DD but the 2yr fix gave a discount for paying by DD. Taking that into account, it was about the same for me to fix for 2 years so that’s what I did. 

sheffieldeagle

SMcGill said:

How did the two compare for you?

The 1yr fix price was based on payment by DD but the 2yr fix gave a discount for paying by DD. Taking that into account, it was about the same for me to fix for 2 years so that’s what I did. 

Cheers much appreciated.

isadreamalie

rpriyank007 said:

I have strong reasons to switch to a fixed account (at least for a year) as follows.
1. Council tax refund of £150 in the month of April to aid the energy prices
2. £200 credit from the government which will be repaid over the coming years automatically. 
3. Since the invasion of Russia on Ukraine, today the oil prices increased by 40% in just one day. Russia is the third-largest provider of oil to the European market. The invasion has already seen a knock-on impact.
4. If you hear Martin Lewis, with the recent developments he has changed his 'stick to variable tariff' rule and is confident that there will be a cap price increase in October.   

If I think about all these factors, I'd consider switching to a fix tariff for one year until everything settles down hopefully. The current Flex variable tariff and the fixed one is exactly the same with a No-exit fee. 

All the energy providers have increased in standing charges. There is currently no cheaper provider in the market. With the pace small energy providers are getting busted, I wonder it is best to be with the Bug-5 providers. 

I've just switched to the fixed next online v11 after reading this makes sense re Russia