To Fix or Not?

seraph6

I am an existing Eon customer. My cheap fix runs out on July 20th 2022. I am thankfully a low user of energy. My estimated annual usage is Electric 552kwh and Gas 1143kwh. Been offered Variable Rate Duel fuel £513 a year.  Electric unit rate: 27.86 pkwh and Gas Unit rate 7.37pkwh. Standing charge Electric 48.13 a day and Gas 27.2p a day
or  Fix Next online v14 (12 months) Duel Fuel £598.74 a year. Electric unit rate 38.22pkwh and Gas 9.87pkwh. Standing charge electric 48.13 a day and Gas 27.2p a day.
In a quandary what to do! If i chose to fix I would be paying more from July to October, but would I be paying less than the price cap from October if prices do increase. Martin does mention on his blog to consider this Eon deal available to existing customers (30% more than current price cap). Would just like some reassurance. Thanks.

Mstty

As you don't use a lot of energy you won't be affected as much paying more til October and correct me if I am wrong but there are zero exit fees. So if the rise isn't as big as expected in October you can pull the plug for free?

Alnat1

You'll probably use less over summer, no heating, lights go on later, so the increase now won't be so much

Carrera74

I've been thinking the same and have just signed up to the EDF May fix for 2 years but not sure I have done the right thing as I'll be paying approximately £30 extra a month til the increase in October but as I work from home and electricity is more expensive thought it the right thing to do.

Martin has just announced he's giving an update on Thursday via his newsletter / on here about whether to fix or not.  Will see what he says on Thursday and cancel the fix if need be. It's a minefield isn't it!

jonnydub

I'm assuming your £513 a year is on the price cap (or as near to it as EON go!?) 
If that's the case your fixed offer of £598 is 16.5% higher and using Martins rules thats a defo fix isn't it!?