Eon Next tariff increase

PAJ49

My Eon Next tariff has increased almost three fold since Mid November 2021. My night rate was 7.99p per kWh in Nov 2021 rising to 26.60p per kWh in April 2022. Day rate for Nov 2021 was 15.51p per kWh in April 2022. The daily standing charge rose from 18.39p to 47.67p. That is a million miles away from the 54% increase the energy companies were telling us. How many other consumers are paying these insane rates?

QrizB

Welcome to the forum.

PAJ49 said:

How many other consumers are paying these insane rates?

Over half of all consumers are.

It looks to me as though you were on a fixed rate tariff in November 2021, which has since expired and you're now on EON Next's standard variable tariff "Next Flex".

If you can tell us the name of your old tariff, and of your current one, we'll be able to confirm this.

Zandoni

Looks like you have just come off a fixed rate tariff. 54% is only if you were already on the standard variable rate.

PAJ49

QrizB said:

If you can tell us the name of your old tariff, and of your current one, we'll be able to confirm this.

Hi, thanks for your help. My original tariff with Eon Next was Top Shopper Fix 2020 Version 2, then Next Flex and now Next Online V13.

molerat

Looks like you have gone from a cheap fix to a new more expensive than the cap fix via the SVR.  The magic "54%" is the price increase on the capped rates for the average consumer using the average amount of gas and electricity averaged across all the UK regions - in other words a pretty meaningless figure. You have chosen to be on a more expensive uncapped fixed tariff so the increase is more than the average.  In my area Next Flex SVR would be 31.67p / 19.32p / 50.14p v the Online 13 of 40.35p / 28p / 50.14p, around a 27% premium over capped for day rate and 45% for night.

pochase

You took out a new contract with Next and agreed to pay more than the standard variable rate, therefore the new Cap is not valid for you. Unfortunately from the name of the tariff that was more than 14 days ago as the successor Next Online V14 is already older than 14 days, so no cooling off phase any longer, is it is even offered by Next. 

The "54% average increase" is only true for people who were already on a capped tariff, if you come of a fixed tariff it is much higher, and taking out a expensive fixed rate makes it even more expensive. 

Most likely you fell for the offer of a fixed has that Next has to give you coming of a fixed tariff, instead of doing nothing and going onto a variable tariff.

Nobody knows what is going to happen in October, but the 27% over Cap rate @molerat
calculated is more than the percentage the forum generally advised to take out a fixed rate. This is especially true on an electricity only tariff as the increase for the electricity part for the April 2022 Cap increase was more like 40% to 45%.

Is there an exit fee for the fixed tariff you have taken?

Can you also give us your day and night consumption for the last 12 months, as the supplier can to a certain degree decide how they will do the split between day and night rate.

PAJ49

I was offered only 2 fixed rate tariffs running from April 2022 to April 2023, £426 p.m. D/D or £600+ p.m D/D. Needless to say I took the cheaper one. I am a pensioner living in a two bedroomed bungalow, all electric with storage radiators. I thought at first that I had to pay £426 p.m. regardless of consumption, so enquired and was told I can alter the D/D according to my meter reading. I hope this is true because estimating my reading it should be approx. £300

molerat

You didn't have to take either of the fixes.  You could have stayed on the cheaper SVR.  Fixes available now are set at a rate to cover the (crystal ball) expected rise in October.

Zandoni

PAJ49 said:

I was offered only 2 fixed rate tariffs running from April 2022 to April 2023, £426 p.m. D/D or £600+ p.m D/D. Needless to say I took the cheaper one. I am a pensioner living in a two bedroomed bungalow, all electric with storage radiators. I thought at first that I had to pay £426 p.m. regardless of consumption, so enquired and was told I can alter the D/D according to my meter reading. I hope this is true because estimating my reading it should be approx. £300

Yes it definitely true you only should pay your annual usage divided by 12. Are you on a fixed tariff now or is it the standard variable?

PAJ49

Zandoni said:

Yes it definitely true you only should pay your annual usage divided by 12. Are you on a fixed tariff now or is it the standard variable?

I am on the Next Online V13 fixed rate until April 2023. Hopefully avoiding the further increase in October.

Zandoni

PAJ49 said:

Zandoni said:

Yes it definitely true you only should pay your annual usage divided by 12. Are you on a fixed tariff now or is it the standard variable?

I am on the Next Online V13 fixed rate until April 2023. Hopefully avoiding the further increase in October.

A fixed tariff at the moment goes against all advice available, I hope you have done your calculations.