Gas and electricity increasing my more than 54%

w00519773

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.

MWT

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

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).