Another 'What would you do' post - Fix?

Ballymoney

Current usage for 2 adults in a 4 bed detached:

Elec: 2800kwh

Gas: 23000kwh

Currently with Eon Next on the Net Flex paying £240pm:

Elec: 27.36ppkwh (48.53p SC)

Gas: 7.28ppkwh (27.22p SC).

Can fix for 1 year paying £358pm with Eon Next

Elec:44.24ppkwh (48.5s SC)

Gas: 11.36ppkwh (27.22p SC)

Due to cutting down on gas usage we're overpaying right now so will have a credit of about £600 come Oct 1st.

We're using next to no gas at the moment (2 showers a day) and about 6.5 units of elec a day. From my sums, fixing now at the higher rate we'll pay about £95 extra for elec and £85 for gas between now and Oct 1st but if the gas unit rate goes up to 14.2ppkwh on Oct 1st I'll then pay about £600 LESS on the fixed rate of 11.36ppkwh?

I should fix now, right? The predicted gas rate isn't going to fall significantly between now and whenever they set the price cap is it?

Mstty

Current predictions MSE backed Cornwall Insights figures.

Prediction Oct 2022 gas 14p kwh elec 44p kWh

Prediction Jan 2023 gas 15p kWh elec 45p kWh

I would say your gas usage at 23000 kWh is extremely high and this is an area you could look at reducing costs this winter.

Ballymoney

Mstty said:

I would say your gas usage at 23000 kWh is extremely high and this is an area you could look at reducing costs this winter.

Thanks. We used to use about 28000kwh of gas a year. It's a fairly large 4 bed house with a big cenral heating system that can take while to heat the house in the morning during winter. We've made some upgrades and as a result our usage is now at a level we're happy with (heating to 20c in winter).

Mstty

It might be worth doing a quote with green energy UK. They offer a switch and fix deal to compare against your eon fix figures.

https://www.greenenergyuk.com/

Ballymoney

So after going back and forth many times over the last week I've decided to take the v16 Fix with Eon Next

Elec:44.24ppkwh (48.5s SC)

Gas: 11.36ppkwh (27.22p SC)

Approximately £4200 for the next 12 months compared to £4700 using the predicted Oct 1st capped rates.

I'll be paying more for the next 2.5 months but considerably less from Oct 1st onwards (assuming the price doesn't crash before the 2023 Q1 rates are calculated).