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Gas and electricity increasing my more than 54%

w00519773
w00519773 Posts: 221 Forumite
Fourth Anniversary 100 Posts Name Dropper
I called Eon today.  I have the Eon Next Flex tarriff.  Eon have told me that my gas and electricity monthly direct debit will increase from £48 to £110 from tomorrow.  I was informed that this is because the prices for as and electricity for this tarriff have increased by 54% since 01/04/22.  My account also has a debit of £37.36.  I have done the maths below (add 54% to current payment):

(154/100)*48 = £73.92

Therefore I believe I should be paying £73.92 PCM now.  If I add the debit (£37.36), then it equates to £107.27 (close to £110).  I am told I will be paying this for six months.  Therefore I believe I will have a big credit at the end of six months i.e. 

(110-107.27) + (5 x (110-73.92)) = £183.13 credit

Does this sound correct? USwitch is telling me to stay put so I am not planning to switch.

Comments

  • MWT
    MWT Posts: 9,731 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    edited 18 May 2022 at 11:41AM
    You are not doing the right calculation.
    Check your actual usage over the last 12 months, make sure you do that using actual meter readings not estimates, work out the cost of that use at the new rates, add on the debt and divide by 12. See what that gives you...
    Also consider that you will need to build up a balance to help with the next round of increased costs in October and the higher bills over winter...
  • pochase
    pochase Posts: 3,449 Forumite
    1,000 Posts First Anniversary Name Dropper
    What was you use for gas and electricity for the last 12 months? And what region do you live in?

    The real increase of cost is more in the region of 35% for electricity, 75% for gas and 100% for standing charge for electricity, so the 54% is only valid for a certain amount of gas and electricity use (2900KWh electricity and 12000KW gas).



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