Options for New Tariff

Cassidy_uk

Hi 

With my current Tariff coming to an end with EON they have offered me two new Tariffs to chose from

As you can see there is quite a difference between them.

My question is do I bite the bullet and go for the higher fixed 12 month contract thus protecting me against anymore price hikes.

Next Flex

£170.68a month

£2,048.20a year

This tariff comes with 100% renewable electricity as standard. This is our variable priced plan with no contract end date, prices are reviewed throughout the year and may change. There are no exit fees with this tariff. You will receive a discount if you pay by Direct Debit.

We've based this on how much energy we think you'll use. If you pay by fixed monthly Direct Debit, your payment amount will be changed to reflect your new tariff prices.

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Select tariff

Next Online v13

£234.14a month

£2,809.66a year

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.

The_Fat_Controller

There will be another price increase on 1st October if you take the standard variable tariff.

If the figures are a reasonable reflection of your actual annual usage the you'll have to do some guesstimation.

12 months on the fixed tariff

V

X months from when you move to the SV capped tariff plus X months on the worst predicted rates post October.

Nothing is straightforward right now as what happens post October 1st is all speculation. 

MattMattMattUK

Cassidy_uk said:

My question is do I bite the bullet and go for the higher fixed 12 month contract thus protecting me against anymore price hikes.

Unfortunately no one can answer that question for you, it depends on your personal appetite for risk and you willingness to take a guaranteed extra cost now for a possible future saving. There are too many unknowns in the energy market, let alone your personal circumstances. 

Ultrasonic

If you want to consider a fix then I'd get a quote from OVO energy too as theirs may be cheaper. It is for me and my usage where I live, but how much energy you use per year will affect this. Do you know your approximate annual electricity and gas usage in kWh?

Cassidy_uk

Thank you for the replies so far I shall have a look at OVO

Cassidy_uk

Had a look at OVO similar price to EON for my post code 
Just spoken to a lady at EON she wasn't very committal but said if i did go for the fixed quote I it would be free to change tariff if I find one cheaper either with them or elsewhere 

Mstty

What are the standing charges are price per kWh on the next fixed v13 that might help give an opinion?

Cassidy_uk

Standing charges are both the same obviously the variable tariff is cheaper per KWh at the moment  

Mstty

Cassidy_uk said:

Standing charges are both the same obviously the variable tariff is cheaper per KWh at the moment  

But what are the kWh prices for gas and elec on that v13 fixed ?

Cassidy_uk

v13 fixed
Elec 40.4 kwh
Gas 10.4 kwh

Flex
Elec 27.86 kwh
Gas 7.38 kwh

jbuchanangb

Faced with the same choice I calculated that the October 2022 increase would have to be over 75% to make v13 a better deal than Flex. No-one knows what it will be. I performed the calculation using 12 months energy consumption using the assumption that the next 12 will be the same as the last 12. I didn't attempt to factor in the seasonality, i.e. that October to March consumption may be two-thirds of a whole year while April to September might be one-third. I have decided to stay on Next Flex.