Eon next flex - should I switch to Eon online v20?

DarrenHughes

As above, I’ll admit I’ve never really got my head around energy charges and im now trying to do my own research. Me and my wife has recently bought our own place, a small 2 bed mid terrace and we are on the eon next flex variable rate, we’ve also just had a smart meter fitted. I read that excising customers can switch to the eon online v20 but I don’t know if it’s the right thing to do and I know a lot of people will be in the same situation. I read that the fixed tarif is about 115% above but not too sure what that means. Would anyone be able to help?

piperm87

Ive just switched to EON online v20 as my current fix is up in October. I'm going from £120 per month to £467.67 per month which is a killer and really got me down in the dumps this morning. I'm still not 100% myself on whether its the right thing to do but they give the 14 day cool off period should i change my mind after its sank in and I've worked it all out..

At the minute, in my mind, i believe having the Online V20 will bring more pain over the next few months as it is above the current price cap but come January the predictions are saying it will break even with the price cap and then i will be better off after Aprils price cap. Its all down to whether you want to risk it or not but the great thing about Eon is they don't do a early cancellation charge so you can leave whenever you want if you feel its not suited.

DarrenHughes

Thanks for your reply, it’s so difficult at the minute knowing what’s for the best and as you say, at least with eon there’s no cancellation charge. I’ll have a think but it does feel a bit of a lottery really l!

scobie

I’ve just switched to his. I was on the variable rate paying £115 a month but actually only using around £60 a month during summer, and my new fix is £220.  While It hurts to pay double rates for September I took the view it’s worth it for peace of mind for the first half of last year, plus the government’s £66 a month subsidy will take a lot of the pain out from October. 

Overall I’m glad I did it and I suspect I will be very glad by the time January comes around. 

I currently have a £450 credit balance too, so I’m hoping I can build that to £650-£700 before the cold months come in. 

pedrodelgado

Unless Truss freezes the price cap. Although at least with eon there's no exit fees and you can just drop onto the SVR.