I’m confused…..Advice please

TS1103

Hi All!

I’ve attached a screen shot from my account.

Should I switch back to a variable now the government has fixed the price cap? I take it the variable must be cheaper now and the fixed I’m on hasn’t gone down as much as I expected.

Thanks for any advice, as always!

victor2

TS1103 said:

Hi All!

I’ve attached a screen shot from my account.

Should I switch back to a variable now the government has fixed the price cap? I take it the variable must be cheaper now and the fixed I’m on hasn’t gone down as much as I expected.

Thanks for any advice, as always!

What are they actually charging you now, with the EPG taking effect? You should be getting the £67/£66 credit to your account for 6 months as well as a reduced rate. The EPG is also only valid (until the next U-turn) until next April.

It can be a little complicated in the way the reduced rate is showing on your statements. Some suppliers are showing it as a seperate discount, others are actually changing the rate.

TS1103

I’m not sure how it is applied as they haven’t sent me a statement since in came into place. I think it’s a credit but I’ve sent an email to check.
I’ll give an update when I hear.
Thanks

FreeBear

QrizB said: I'd suggest you accept the Next Online V19 fixed rate offer, preferably right now before they change it.

I did just that, grabbed the Next Online fixed in the expectation that prices would rocket up again in January...

TS1103 said:  Should I switch back to a variable now the government has fixed the price cap? I take it the variable must be cheaper now and the fixed I’m on hasn’t gone down as much as I expected.

With the announcement of the energy price guarantee being lower than the Online rate I'd signed up for, I'd emailed Eon.Next several times asking for further information. Still not had a reply.... However, have had a bill - Was automatically switched to the Next Flex (SVR) tariff and also got a few quid in "goodwill payments". Along with the £66/67 rebate, they ended up paying me for my energy usage in October.

jbuchanangb

The situation with E.ON customers on tariffs like yours the "Online V19" or mine the "Online V15" is that we have the Energy Price Discount applied until 31 March next year, and after that revert to the tariff we signed up for, until the end of the fixed period we signed up for. In your case the "Next Flex" is currently less than the "Online V19" but that is probably not taking into account the EPG discount. It is anybody's guess what the so-called OFGEM price cap rates will be from 1 April 2023, but very likely they will be higher than the "Online V19" which you have chosen until sometime in August next year. In my case I am sticking with "Online V15" with the EPG discount applied.