Energy price cap freeze on a fixed tariff

t0rt0ise

deano2099 said:

What were those people planning to do when they couldn't pay the bill then?

Turn the heating off and stop eating.

Ultrasonic

deano2099 said:

What were those people planning to do when they couldn't pay the bill then?

Were you replying to me? That people were in a position they didn't know how they'd be able to handle is precisely why the government felt obliged to act.

casjen

Im on a higher fix for gas and a lower for electric. But regardless of that both fixes contain an element of Green taxes which have been removed so why would I not get some of that discount? This £1000 being bounded about as a saving for ALL users is sadly not for all and without a doubt the headlines of this process do not reflect the actual meaning for a large chunk of users.

Ultrasonic

casjen said:

Im on a higher fix for gas and a lower for electric. But regardless of that both fixes contain an element of Green taxes which have been removed so why would I not get some of that discount? This £1000 being bounded about as a saving for ALL users is sadly not for all and without a doubt the headlines of this process do not reflect the actual meaning for a large chunk of users.

No credible reporting will describe what is happening as a £1000 saving for every household. 

I don't believe you (or I) are entitled to a discount specific to the green levy though. If this had gone up your fixed tariff wouldn't have been affected, and so by the same token it seems reasonable to me that it won't be reduced when this is removed.

[Deleted User]

casjen said:

Im on a higher fix for gas and a lower for electric. But regardless of that both fixes contain an element of Green taxes which have been removed so why would I not get some of that discount? This £1000 being bounded about as a saving for ALL users is sadly not for all and without a doubt the headlines of this process do not reflect the actual meaning for a large chunk of users.

Did you also argue that all old electricity fixes should have been put up when the SOLR element was added into the calculations?

Leew89

I'm due to move to EON Next Online v19 on 02/10.

Both electricity and gas unit prices are above the approx 34p and 10p EPG even with the 17p and 4p discounts.

Seems to be confusion around but I'm assuming based on current thinking I need to be getting out of this fix before it even starts.

[Deleted User]

Leew89 said:

I'm due to move to EON Next Online v19 on 02/10.

Both electricity and gas unit prices are above the approx 34p and 10p EPG even with the 17p and 4p discounts.

Seems to be confusion around but I'm assuming based on current thinking I need to be getting out of this fix before it even starts.

If you trust that nothing will change in the next year - probably, although we can't tell you what to do.

If you think the government will realise how expensive this scheme is going to be and then put the cap up - maybe not, although it would depend on how much you think they'll change it.

[Deleted User]

Leew89 said:

I'm due to move to EON Next Online v19 on 02/10.

Both electricity and gas unit prices are above the approx 34p and 10p EPG even with the 17p and 4p discounts.

Seems to be confusion around but I'm assuming based on current thinking I need to be getting out of this fix before it even starts.

I'm due to move to EON Next Online v18 on 01/10 (so a cheaper tariff than yours).  If the latest noises coming from ML about the rates being capped at the 34p/10.3p (average rate) level turn out to be correct then I shall be cancelling this impending tariff change as it likely to cost more over the next year.  Of course other unforeseen changes/events might happen for the year commencing Oct 1st which might throw my calculations out the window, so you have to make your own mind up what to do.

I do have a narrowing window before making a final decision on my tariff.  

Marypw

Leew89 said:

I'm due to move to EON Next Online v19 on 02/10.

Both electricity and gas unit prices are above the approx 34p and 10p EPG even with the 17p and 4p discounts.

Seems to be confusion around but I'm assuming based on current thinking I need to be getting out of this fix before it even starts.

I'm due to move from Eon Next online v7 to v19 on 6/10/22.  Eon's website clearly says they will contact us, so we don't need to contact them.  I also have no exit fees,  so presumably that's what you've got as well?  So I'm just keeping an eye out for an email or any news on their website, before my changeover date.

Chrysalis

sienew said:

deano2099 said:

sienew said:

deano2099 said:

Chrysalis said:

Are people really suggesting they rather have a cap of £3549 and be able to fix above £2500 instead of a cap ar £2500?  As that makes no sense to me.

It's because many people, especially posters here, care less about the actual price of their energy, and more whether they've "won" or "lost". Those who fixed looked to be winning, but then this has turned it around and they've now "lost" due to paying higher rates over the past few months.
They also feel they've lost as they're going to have to pay back the costs of borrowing on the money that they personally didn't need. And while I do understand that, the negative economical impacts of allow the cap to increase unchecked would have been far more damaging anyway.

Just FYI, I didn't lose. I did have a fix but it wasn't due to start until October 1st, has no exit fees and was only very slightly below the October price cap. In the short term I'm better off with the price guarantee.

I didn't lose out my point is that fixes are those who are risk averse, often on the poorer side (the very poorest are often on prepayment so have less options), those who are money conscious and are hoping for a deal. The issue is the risk of a fix in the next 5-10 years is now higher than sticking with the SVT. I'm not a fan of those who made the smart decision to fix at cheaper prices that overpaid for months being worse off.

But that's always the point of a fix isn't it? You fix at a price you can afford in case they go up.

No. If you are a regular here you'll see many people fixed at prices they couldn't afford because the predictions for the October (which turned out to be true) and beyond price caps were higher and if they couldn't afford a lower fix they certainly couldn't afford the upcoming price cap rise.

Now those people will get dropped to the new SVR either via subsidy or free exit and actually have something a little more affordable, but somehow this is a bad thing?  Yes they will have lost money over paying prior to 1 Oct, but they would have lost a lot more with no EPG.