Is this fix too good to be true?

Seffy

So I'm currently on a variable tariff by Outfox the Market paying £265 pcm (I know!). The best fixed deal they can offer me is £420 pcm which is 58% over so nope. I did a whole market search and Eon Next are offering a 12 month fix at £287 pcm with no exit penalties. Is this too good to be true? This is based on our actual usage for last year so won't be skewed by lockdowns and should be fairly accurate for the next 12 months. Eon next don't seem to get brilliant reviews but based on that price I think I can cope! Please let me know your thoughts. Cant believe I'm looking at £287 pcm as a brilliant deal. What has happened to the world!

molerat

What are the unit prices and daily charge compared to your current ones ?  The quoted monthly payment can often be incorrectly calculated so is not the true measure of cost and should never be used as a comparison (unless you are certain that reflects the true 1/12th annual use).

Seffy

Unit prices are up around 65% - standing charges 5%.

theoretica

Seffy said:

Unit prices are up around 65% - standing charges 5%.

So how in the name of arithmetic do they end up with a monthly cost up 8.3%?

pochase

If you don't give the details of the tariff nobody will be able to give any advice. Just answer the questions @molerat
 has asked.

Seffy

Sorry thought I did!

Okay so electricity from 25.80 - 41 unit price, 0.46 - 0.48 standing charge per day

Gas  6.88 - 10.6 unit price, 0.25 - 0.27 standing charge.

Mstty

Sadly those rates are very close to the likely capped variable rates come October so not a great deal.

The only benefit is the zero exit fee

Benny2020

Not a great fixed deal