E.On Next Online v18 - should I fix like MSE suggests?

[Deleted User]

puddsykit said:

Do you think they would delay till febuary I'm on a fix till febuary at 27p Kwh. Absoulutely dreading what we'l pay when that ends.

You can always try.  But I'd be gobsmacked if they held your renewal tariff until then.

[Deleted User]

Northern_Wanderer said:

DerwentMailman said:

I already see the emergence of some v19 tariffs today on the Eon Next range of tariffs (they were not there yesterday).  I wouldn't be surprised to see the Online v18 Direct Debit tariff pulled today.

What are the rates for V19 then? Glad I made my move....but thanks to the people on here posting about the Cornwall Insights predictions as if I hadn't seen that I would be stuck without a paddle.

Not sure as they have not been announced.

macca2424

Cheers to those who said they could postpone the move to v18 Online, I fixed yesterday from the Flex tariff and then sent them a message on Facebook today after reading other comments and they’ve agreed to delay the start date of my fix until October 1st. 

Northern_Wanderer

Hazzabee said:

Just checked my EoN online account and v18 fix still being offered.

Quoted estimate £798/yr vs £480/yr currently on the cap rate, however for Eco7 the unit price jump for night usage seems high - 17p with the cap to 42p.

Significantly more of my usage during the winter months will be at night with storage heaters in my flat and an immersion water tank. Is £798/yr on the fixed rate somewhat of an underestimate?

It depends on your actual usage. Do you know your annual consumption based on actiual readings, not estimates? Read your meter/ find a recent bill and find a bill from one year ago, work out your annual usage and then calculate how much it costs on SVT cap and the cost on the V18. You will have to do sums for daly standing charge x 365, day rate kwh and night rate kwh for each tarrif.

It does sound low, my annual usage for electric was £852 but I have gas heating. Are you sure you are giving current meter readings?

Hazzabee

Northern_Wanderer said:

Hazzabee said:

Just checked my EoN online account and v18 fix still being offered.

Quoted estimate £798/yr vs £480/yr currently on the cap rate, however for Eco7 the unit price jump for night usage seems high - 17p with the cap to 42p.

Significantly more of my usage during the winter months will be at night with storage heaters in my flat and an immersion water tank. Is £798/yr on the fixed rate somewhat of an underestimate?

It depends on your actual usage. Do you know your annual consumption based on actiual readings, not estimates? Read your meter/ find a recent bill and find a bill from one year ago, work out your annual usage and then calculate how much it costs on SVT cap and the cost on the V18. You will have to do sums for daly standing charge x 365, day rate kwh and night rate kwh for each tarrif.

It does sound low, my annual usage for electric was £852 but I have gas heating. Are you sure you are giving current meter readings?

Cross checking with a bill from this time last year, day usage = approx 540 units,  night usage = approx 570 units. So not as much more night vs day as I thought but thanks to the mild winter I didn't have to put the heating on at all. If this coming winter is colder then expect night usage to rocket as storage heaters use a sh*t ton of leccy.

Will attempt to do the math later on how that equates to an estimate for the next 12 months on both cap and v18 fix. Difficult since we don't know the unit rates yet for the next cap uplift so help would be appreciated!

samwise555

Just want to say thanks for this thread. I was able to move to V18 this morning, starting on the 1st October when my fixed rate ends. The numbers are not pretty (19.9p -> 54p kwh) but I think it will just get (a bit) worse come January ... and if not, the no penalty option of leaving is great. Thanks all

pochase

Hazzabee said:

Northern_Wanderer said:

Hazzabee said:

Just checked my EoN online account and v18 fix still being offered.

Quoted estimate £798/yr vs £480/yr currently on the cap rate, however for Eco7 the unit price jump for night usage seems high - 17p with the cap to 42p.

Significantly more of my usage during the winter months will be at night with storage heaters in my flat and an immersion water tank. Is £798/yr on the fixed rate somewhat of an underestimate?

It depends on your actual usage. Do you know your annual consumption based on actiual readings, not estimates? Read your meter/ find a recent bill and find a bill from one year ago, work out your annual usage and then calculate how much it costs on SVT cap and the cost on the V18. You will have to do sums for daly standing charge x 365, day rate kwh and night rate kwh for each tarrif.

It does sound low, my annual usage for electric was £852 but I have gas heating. Are you sure you are giving current meter readings?

Cross checking with a bill from this time last year, day usage = approx 540 units,  night usage = approx 570 units. So not as much more night vs day as I thought but thanks to the mild winter I didn't have to put the heating on at all. If this coming winter is colder then expect night usage to rocket as storage heaters use a sh*t ton of leccy.

Will attempt to do the math later on how that equates to an estimate for the next 12 months on both cap and v18 fix. Difficult since we don't know the unit rates yet for the next cap uplift so help would be appreciated!

If you don't do the FIX now you will need to start again soon, I doubt Online V18 will be available much longer.

If you are considering it take it now and use the next 2 weeks cool off to do more considerations.

Even when the new cap is announces you will not know the E7 tariffs, they are set by the suppliers (within limits given by Ofgem 58% day / 42% night split) and they can set a very low night and a very high day rate, or keep the rates only a few pence apart. Depending on your usage pattern you might be better of with one or the other supplier, only you cannot switch any longer and are stuck with your current supplier on SVT (potential exceptions move to EDF and Octopus)

[Deleted User]

Hazzabee said:

Will attempt to do the math later on how that equates to an estimate for the next 12 months on both cap and v18 fix. Difficult since we don't know the unit rates yet for the next cap uplift so help would be appreciated!

Pochase posted what the latest Cornwall projections translated to (approx) in another thread and these are what I have used in my spreadsheet for £ yearly cost from October 1st 2022.  With my forecasted usage for gas and electric (7972 kWh and 2716 kWh respectively) my total comes to £2749.87 on the V18 fix) wheras with the numbers derived from Cornwall's projections the same usage comes to £3203.26 so it was a no brainer for me to jump to V18 starting 01/10/2022 

https://us-noi.v-cdn.net/6031891/uploads/editor/13/6nlfv2c510j8.png

EDIT I am not a E7 user BTW

DeeQS

I'm taking the plunge and signing up to V18 @ 53.22p kw/h as I've just read another forecast for the cap making it to over £5,000 in April now. That must be over 80p kwh for Electric!

I pay the bill for my mother-in-laws apartment. It's electric heating with no gas, and an EPC B, so reasonably efficient but as she hasn't been there a year yet it's hard to know full year usage. In her 70's though she feels the cold but I'm hoping EON's estimated 7,000kwh end up being on the high side.

Hazzabee

[Deleted User] said:

Hazzabee said:

Will attempt to do the math later on how that equates to an estimate for the next 12 months on both cap and v18 fix. Difficult since we don't know the unit rates yet for the next cap uplift so help would be appreciated!

Pochase posted what the latest Cornwall projections translated to (approx) in another thread and these are what I have used in my spreadsheet for £ yearly cost from October 1st 2022.  With my forecasted usage for gas and electric (7972 kWh and 2716 kWh respectively) my total comes to £2749.87 on the V18 fix) wheras with the numbers derived from Cornwall's projections the same usage comes to £3203.26 so it was a no brainer for me to jump to V18 starting 01/10/2022

Great thanks - can you link to the Pochase post please?

Please excuse my laziness for not checking back through this thread as I think it has been discussed already but how did you amend the start date for v18 to 1/10/22 instead of tomorrow if renewing online? Did you do the online renewal first then call? Or just do it all via phone?