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Looking to fix with Eon

Dhrucku
Dhrucku Posts: 160 Forumite
Tenth Anniversary 100 Posts Combo Breaker
Currently paying £79 / month for gas and electric and just got my email through for the eon Next Online v13.

It’s saying that using my current usage figures I can fix for estimated cost of:

Electric - 1248
Gas - 841
Total - £2089

Previous Total for illustration (£79 x 12) = £948 

This is an increase of 120%.  

A lot of the info from some of the analysis says this is too much of a hike and that I should go variable until October when it should start levelling out but I’m not too sure now as fixing now (though undesirable as missing out on lower variable rate) could safeguard me from the inevitable surges come October as Russia / Ukraine effects worsen.  

For completeness the variable gives me:

Electric - 920
Gas - 623
Total - £1543

Any thoughts or anything I’m missing? 

Thanks




«1

Comments

  • Ultrasonic
    Ultrasonic Posts: 4,265 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    How long is the fix for, and if you check the terms is there any clause that allows EOn to end the contract early?
  • Dhrucku
    Dhrucku Posts: 160 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    How long is the fix for, and if you check the terms is there any clause that allows EOn to end the contract early?
    For 12 months and there is no exit fee.  

    Exact wording
    ‘This tariff comes with 100% renewable electricity as standard and prices are fixed for 12 months. Payment is by Monthly Direct Debit only and you need to manage your account online. By choosing this tariff you agree to have a Smart meter installed where eligible. There are no exit fees with this tariff.’
  • jimexbox
    jimexbox Posts: 12,481 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    You can need to compare gas and electricity kWh price, which which will be shown on your current tariff, April capped variable and v13 fixed.

    The DD is not a great way to judge tariffs. 
  • Sea_Shell
    Sea_Shell Posts: 10,031 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Has V12 been pulled already!?!

    I got only got offered it, and took it up, on Sunday.
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)
  • Had a go on the phone with E.ON (twice!) today to get signed up to v12 today with no luck. Obviously I'm lacking the gift of the gab because someone on the parallel E.ON thread managed to talk themselves onto v12 by calling up this morning. Sympathetic guy on the phone told me that he was physically unable to do it. :-(
  • shorty31
    shorty31 Posts: 66 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    edited 10 March 2022 at 3:31PM
    Please be careful with Eon comparisons.  It shows my annual electric consumption as 74kwh.  No one at Eon knows why, and no one seems to be able to override the system to correct it.  
    I monitor my own energy usage and check my readings despite being on a smart meter.  I also downloaded Midata, before E on became E on next.  E on next have confirmed my annual usage of electricity  is 3750 kWh.  

    Don’t go by the DD figure they quote in bold, use good old arithmetic, to check kWh (unit) price against actual usage.

    I missed V11 so quickly locked in at V12, I would be interested to see V13 rates.

    edited to add



    I replied about not relying on their estimates unless you have done the maths, as they have my usage figures wrong.

    However, I fixed on V12 after I debated with myself all day earlier in the week, because it hurt paying 6 months of energy at more than the current capped rate.  In the end I decided these first 6 months are lower energy usage months for me. Gas heating likely to be switched off by the end of April.  The security of knowing I’d locked in a rate to get through next winter when the October cap could be much higher, actually bought me peace of mind.  If things work out better than they are looking right now, there were no exit fees to end the tariff. 



  • Dhrucku
    Dhrucku Posts: 160 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    I would be interested to see V13 rates.

    edited to add



    I replied about not relying on their estimates unless you have done the maths, as they have my usage figures wrong.

    However, I fixed on V12 after I debated with myself all day earlier in the week, because it hurt paying 6 months of energy at more than the current capped rate.  In the end I decided these first 6 months are lower energy usage months for me. Gas heating likely to be switched off by the end of April.  The security of knowing I’d locked in a rate to get through next winter when the October cap could be much higher, actually bought me peace of mind.  If things work out better than they are looking right now, there were no exit fees to end the tariff. 



    Thanks for interest.  

    My current tariff is 

    Electric standing charge 19.12p per day
    Electric Unit Rate 18.29p kWh 
    Gas standing charge 19.12p per day 
    Gas Unit Rate 3.34p kWh  

    New v13 tariff 
    Electric standing charge 41.66p per day
    Electric unit rate 42.05 kWh 
    Gas standing charge 27.22p per day
    Gas unit rate 10.36 kWh 

    Does this seem reasonable in the current scheme of things? 

    I’m in a similar boat where I can lock in and have the security I guess.

  • Dhrucku
    Dhrucku Posts: 160 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    Any thoughts on the above, I feel like I don’t have much choice but to fix in for some security. 

    Percent changes:
    Electric standing charge - 118%
    Electric unit rate - 129%
    Gas standing charge - 42%
    Gas unit rate - 210%

    All are over 100% mainly and go against fixing when looking at MSE guidance 
  • QrizB
    QrizB Posts: 18,505 Forumite
    10,000 Posts Fourth Anniversary Photogenic Name Dropper
    Dhrucku said:
    Any thoughts on the above, I feel like I don’t have much choice but to fix in for some security.
    I wouldn't take those rates myself but if you value the certainty of a fix, you might choose to.

    N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.
    Not exactly back from my break, but dipping in and out of the forum.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
  • jbuchanangb
    jbuchanangb Posts: 1,338 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I am faced with same choice of EON Next Flex or V13 for my electricity. I have calculated that my energy will cost £1110 for 12 months at Next Flex (rates from April) or £1536 for £12 months with V13. For V13 to work out less than Next Flex the increase in October for Next Flex would have to be greater than 75%. Who knows? I am sticking with Next Flex.
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