Eon Next am I paying way too much?

jmb1

QrizB said:

jmb1 said:

Electricity usage	4,683kWh
Electricity unit rate	28.29p per kWh
Electricity standing charge	48.15p per day
Gas usage	12,625kWh
Gas unit rate	7.44p per kWh
Gas standing charge	27.22p per day

That's a lot of electricity. 62% more than the average. Where does it all go and can you use less?

jmb1 said:

Next Online v14

Annual cost £3,340.49

According to my online account I am currently on a variable tarrif paying £2,539.61 a year:

Thier quote for Next Online V14 is 31% more than you are currently paying. That's a much smaller increase than the 40%+ that's predicted for October, and MSE's article includes V14 in the list of tariffs they think you should seriously consider.

Yes I have no idea why our usage is so high, other than working from home and PC's always on, printers running, admitedly leaving led lights running when not needed, boiling the kettle too much. all needs collective household effort.

So the fixed deal seems like a better option, but doesnt it mean we'll immediately being paying more monthly? Is that  presumably offset buy paying less in the long term? Should I just go for it? Or wait?

QrizB

jmb1 said:

So the fixed deal seems like a better option, but doesnt it mean we'll immediately being paying more monthly? Is that  presumably offset buy paying less in the long term? Should I just go for it? Or wait?

More now, less from October. That's the expectation. The problem with waiting is that some time between now and October the rates offered will change.

jmb1

QrizB said:

jmb1 said:

So the fixed deal seems like a better option, but doesnt it mean we'll immediately being paying more monthly? Is that  presumably offset buy paying less in the long term? Should I just go for it? Or wait?

More now, less from October. That's the expectation. The problem with waiting is that some time between now and October the rates offered will change.

So do you recommend I just go for it then?

jmb1

Also can I assume the quote they provide is based on my (high) usage, so if we are able to bring it down, the bill will come down? How does that work? Or will I just carry on paying the same £278 pm?

QrizB

jmb1 said:

QrizB said:

jmb1 said:

So the fixed deal seems like a better option, but doesnt it mean we'll immediately being paying more monthly? Is that  presumably offset buy paying less in the long term? Should I just go for it? Or wait?

More now, less from October. That's the expectation. The problem with waiting is that some time between now and October the rates offered will change.

So do you recommend I just go for it then?

I can't recommend anything, sorry. It's your decision to make based on your household budget and circumstances.

Sea_Shell

jmb1 said:

Also can I assume the quote they provide is based on my (high) usage, so if we are able to bring it down, the bill will come down? How does that work? Or will I just carry on paying the same £278 pm?

Whichever tariff you end up on, reducing your usage will save you money...relative to the cost per kWh.

How often, or by how much you can adjust your DD will be down to either Eon reviewing or you requesting, but it will all come out in the wash eventually, if they receive regular meter readings.

wild666

The way to tell if you're paying too much is take your yearly usage and the SC, add them together using the kWh prices for your electric and gas then divide the total pounds that the figure came too by 12. If the money you are paying by DD is more than one twelfth of the total that you are paying then you are paying too much.

It could be that your supplier has increased the DD with what they predict the October price rise will be i.e. around 35% to 46% but the amount of your present DD would still leave you with a credit next April, that's if they don't move to another price review in Jan 2023 then again in April 2023.

jmb1

Gerry1 said:

jmb1 said:

I simply have no idea what my actual usage is and not a clue how i go about finding that out!

It's very easy.

For electricity, find two meter readings 12 months apart and subtract the older reading from the newer one.  They must both be actual meter readings (yourself, meter reader or smart), not estimates.  Ignore any figures or dials in red and everything after the decimal point.  You can also check the total cost by multiplying the number of kWh by 28.29p and adding 365 times the daily charge of 48.15p.

For gas, find two meter readings 12 months apart and subtract the older reading from the newer one.  They must both be actual meter readings (yourself, meter reader or smart), not estimates.  Ignore any figures or dials in red and everything after the decimal point.  However, this will be a volume, so you then have to convert it to kWh.  If you have an imperial meter (cubic feet, ft3), multiply by 31.5.  If you have a metric meter (cubic metres, m3), multiply by 11.15.  (These calculations ignore variations in the Calorific Value, but the result will be close enough.)  You can also check the total cost by multiplying the number of kWh by 7.44p and adding 365 times the daily charge of 27.22p.

Thank you. I'm not sure where I find the two meter readings however especially one from a year ago, particularly as I was only switched to eon in November 2021 when igloo went down.

Is this exercise worth doing in order to decide whether to switch to eon's fixed tarriff? Eon already told me I'm not actually paying enough per month as it is so it's clear I'm not paying too much, answering my original question.

I just need advice to know/decide whether switching tarriff, although will cost me £100 pm more immediately, is a good move as I'll save in the long run i.e come October increase.

pochase

You can just use one of the Igloo bills from about a year ago with a real (not estimated) reading. You did not get a ew meter, so it does not matter that you use readings for two different companies.

We will help you with calculations and percentages, but nobody here will tell to go onto a fix or stay on SVT, as nobody here knows what the future will bring.

jmb1

Gerry1 said:

jmb1 said:

I simply have no idea what my actual usage is and not a clue how i go about finding that out!

It's very easy.

For electricity, find two meter readings 12 months apart and subtract the older reading from the newer one.  They must both be actual meter readings (yourself, meter reader or smart), not estimates.  Ignore any figures or dials in red and everything after the decimal point.  You can also check the total cost by multiplying the number of kWh by 28.29p and adding 365 times the daily charge of 48.15p.

For gas, find two meter readings 12 months apart and subtract the older reading from the newer one.  They must both be actual meter readings (yourself, meter reader or smart), not estimates.  Ignore any figures or dials in red and everything after the decimal point.  However, this will be a volume, so you then have to convert it to kWh.  If you have an imperial meter (cubic feet, ft3), multiply by 31.5.  If you have a metric meter (cubic metres, m3), multiply by 11.15.  (These calculations ignore variations in the Calorific Value, but the result will be close enough.)  You can also check the total cost by multiplying the number of kWh by 7.44p and adding 365 times the daily charge of 27.22p.

Thank you that's useful.

I know that no-on on here can give suggestions specifially as to whether switching is a good move, but as well as doing the above exercise, any advice on how exactly I go about *deciding* if going for the fixed tarriff is a good idea? I've recently had a drop in income so I'm very worried about monthly outgoings going up, but if in the long run it's a shrewd move...