Stick or switch?

csdodd80

Hello all,

Our current fixed rate tariff with EonNext ends on the 28th June and we have been offered three new tariffs, but we really don't know what to do because of a change that will occur in our household at the end of June.

Currently, there are 5 adults in our 3 bed semi. We have a gas boiler and fire (that is never switched on!) and the rest of our appliances including the cooker and hob are electric. Our eldest daughter works from home and because her and her partner both eat at different times to us, the cooker is being used at least twice a day. Add to that the washer and dryer being used at least twice a day, the dishwasher twice a day plus all our devices, televisions etc and it is inevitable that we are currently using alot in electric!

Our recent annual statement shows we have used 15802 kw/h electric and 6048kw/h. However, my daughter and her partner are moving into their own home at the end of June (build permitting), so our usage is going to undoubtably drop substantially, and here is where we are stuck: all the prices we have been quoted are based on our current usage so we have really no idea whether it would be best to fix, or move to a variable deal.

As of today we are paying £176 a month but are in debit by £174.80. They have offered us:

NextFlex at £256.78 per month 
NextOnline V14 at £341.91
Next1Year V11 at £374.36

We really don't know what to do for the best because we don't want to tie ourselves into a deal that is overestimating our use, but we also know that prices are going up in October.

Please can anyone advise?

NorthYorkie

Forget the monthly direct debits, what are the unit rates and daily standing charges being offered?

wild666

Use your annual usage to calculate the bill for each version whether it's the SVR or a capped price rate, Don't forget to add or subtract any debt or credit to the yearly totals.

[Deleted User]

csdodd80 said:

NextFlex at £256.78 per month 
NextOnline V14 at £341.91
Next1Year V11 at £374.36

We really don't know what to do for the best because we don't want to tie ourselves into a deal that is overestimating our use, but we also know that prices are going up in October.

Hi,

are those 12/18/24 month fixes?

The fix is for unit rate and standing charge, you will only pay for what you use, when your usage drops your DD should be adjusted.

csdodd80

frugalmacdugal said:

csdodd80 said:

NextFlex at £256.78 per month 
NextOnline V14 at £341.91
Next1Year V11 at £374.36

We really don't know what to do for the best because we don't want to tie ourselves into a deal that is overestimating our use, but we also know that prices are going up in October.

Hi,

are those 12/18/24 month fixes?

The fix is for unit rate and standing charge, you will only pay for what you use, when your usage drops your DD should be adjusted.

Sorry, I should have mentioned that. The NextFlex isn't fixed, the other two are fixed for 12 months.

[Deleted User]

Hi,

well looks like NextOnline V14 at £341.91 is best option, will cover October price rise and get you through the winter.

csdodd80

frugalmacdugal said:

Hi,

well looks like NextOnline V14 at £341.91 is best option, will cover October price rise and get you through the winter.

Thanks for the advice - we will be opting for this tariff. Luckily there are no early exit fees so we can move!

Mstty

Don't forget to look at ways to save energy to soften the blow now, in summer, as you pay more than the cap til October and then as much energy saving in winter you can manage👍

Gerry1

csdodd80 said:

Our recent annual statement shows we have used 15802 kw/h electric and 6048kw/h.

Did you mean 15802kWh gas and 6048kWh electricity?

[Deleted User]

Hi,

Gerry1 said:

csdodd80 said:

Our recent annual statement shows we have used 15802 kw/h electric and 6048kw/h.

Did you mean 15802kWh gas and 6048kWh electricity?

Hi,

aye, need unit prices and standing charge to see how it comes to NextOnline V14 at £341.91.

bristolleedsfan

csdodd80 said:

frugalmacdugal said:

Hi,

well looks like NextOnline V14 at £341.91 is best option, will cover October price rise and get you through the winter.

Thanks for the advice - we will be opting for this tariff. Luckily there are no early exit fees so we can move!

Noting how much electricity you use as detailed in O/P I would not have given the same advice for that fuel

I have often wondered whether those who advise others to take out expensive fixed rates would have done so themselves.

Next Online v14 Direct Debit Version ( North West Region)

Electricity  10.35pkWh  ABOVE CURRENT ENERGY CAP

Unit rate	38.37 p/kWh
Standing charge	42.24 p/day

   

Gas Tariff

Unit rate	9.84 p/kWh
Standing charge	27.22 p/day