We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
EON NEXT V12
Comments
-
@Mstty
Thanks I know the thread. But can you point me to where it says that the increase for both gas and electricity will be the same? You are saying the CAP increase might 30% and you use the same 30% increase in your forecast for your electricity only home.
Looking at my own 2 year fix the cost for electricity is 18% higher than April SVT, while gas is 25%higher . So EDF seems to expect the increase to be different, with gas again increasing more than electricty.
1 -
@pochase sorry I misread your original reply
here are my readings since last summer. We were with Powershop but got transferred to EON and can’t access my readings with them (I keep a record now!)Meter readings
2/8/21. 69418
2/9/21. 70119. = 701 units
2/10/21. 70782. = 663 units
1/11/21. 71553. = 771 units
4/12/21. 72410. = 857 units
1/1/22. 73149. = 1009 units
1/2/22. 74048. = 899 units
1/3/22. 74805. = 757 units
31/3/22. 75508. = 703 units
I think my average is more like 800 looking at this!
Thanks again
1 -
@pochase
As well as multiple sources suggesting 30-50% most with a good track record of forecasting I like Cornwall insights as they have a track record of just coming in under what the price cap gets set to. They can in at 9% for October 2021 and it was 11% rise. 46% Apr 2022 and it came out as 54%. They predict 32% for Oct 2022 so I would suggest 30% is at the very lower end.Martin Lewis himself on ITV two days before 1st April Cap warned it would go up to £2500 for the average user down from the originally estimated £3000Don't forget the burning of gas to produce is the reason electricity increases as well so they are linkedPersonally I am happy with my research to date that 30% is a reasonable estimate for the new price cap in October. I have done my research and until I see a reduction in wholesale gas prices, the end of the war in Ukraine then we can re-estimate at that time.Conversely I am happy for you to challenge that as your opinion to be 25% and advise accordingly to the best of your knowledge👍1 -
@Mstty
I am not challenging the price cap of 30% at all. What I am challenging is that if there is a price cap of 30% it will be 30% increase for gas and 30% increase for electricity.
For the April price cap of 54% it worked out to 25% for electricity and 70 to 75% for gas. Why would that be completely different now?0 -
Mari1971 said:@pochase sorry I misread your original reply
here are my readings since last summer. We were with Powershop but got transferred to EON and can’t access my readings with them (I keep a record now!)Meter readings
2/8/21. 69418
2/9/21. 70119. = 701 units
2/10/21. 70782. = 663 units
1/11/21. 71553. = 771 units
4/12/21. 72410. = 857 units
1/1/22. 73149. = 1009 units
1/2/22. 74048. = 899 units
1/3/22. 74805. = 757 units
31/3/22. 75508. = 703 units
I think my average is more like 800 looking at this!
Thanks again
1 -
pochase said:@Mstty
Ok, so it was a 40% increase for you, which is still not the 54% increase nor the real 70% to 75% increase for gas.
To answer your gas increase question again I have to question the mathematics October 2021 SVT was on average 4p kWh and April 2022 SVT is on average 7p kWh so nowhere near 70-75% and the SC went up by average 1p (of course not for those coming off fixed contracts but the figures all deal with SVT changes)
I am happy for you to stick with 25% for electricity only tariffs, like I said you have done your research and so have I. I have backed mine up with a source and still come up with a sensible figure of 30% which will be a useful benchmark for either dual or single fuel customers and a decent stab for something they can aim to save up or be prepared for.
I certainly won't roast you for say 25% the same I won't for someone saying 35%. It's a best guess scenario and on this board I just like to give the picture as ai see it from my research and hopefully then people are as prepared as they can be.
0 -
Mari1971 said:@pochase we have oil heating 😱 which is another story!!
See below calculation for an averaged use of 4200 KWh before 1st of October and after 1st of OctoberFixed Variable KWh rate Cost KWh rate Cost first 6 months 4200 0.3358 £ 1,410.36 4200 0.2841 £ 1,193.22 seconds 6 months 4200 0.3358 £ 1,410.36 4200 0.386376 £ 1,622.78 £ 2,820.72 £ 2,816.00 Increase percentage 36
As you can see the fix would be 217£ more expensive for the first 6 month. To make this up in the second part of the year the price for electricity would have to go up to 38 638p to save 213£,
This does not take the different standing charges into account, but from the rate of 28.41 I assume you are in the South West and the standing charge would be nearly the same you quoted for your fix deal.
Even with a 50% increase you would only save 165£ gambling on the fixed tariffFixed Variable KWh rate Cost KWh rate Cost first 6 months 4200 0.3358 £ 1,410.36 4200 0.2841 £ 1,193.22 seconds 6 months 4200 0.3358 £ 1,410.36 4200 0.42615 £ 1,789.83 £ 2,820.72 £ 2,983.05 Increase percentage 50
and using the 30%electricity increase Mstty is using you are 76£ better off not taking the fix.Fixed Variable KWh rate Cost KWh rate Cost first 6 months 4200 0.3358 £ 1,410.36 4200 0.2841 £ 1,193.22 seconds 6 months 4200 0.3358 £ 1,410.36 4200 0.36933 £ 1,551.19 £ 2,820.72 £ 2,744.41 Increase percentage 30
Nobody can or should advise you what to do here. Nobody knows what is going to happen in October, I can only provide you with some facts, but I only did a fix at a tariff slightly lower (32.905p) than yours because it was for 24 months, and to fix the gas price, which has increased much more with this April Cap than electricity.
1
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards