Stay or leave eon next v18?

Bugster123

I took the v18 out which I am due to change onto on the 25th.  I’ve been waiting to see what is going to happen but I’m wondering if it’s best to just change to the standard tariff. 

Tried to calculate using the 17p and 4p reduction but not sure if my standing charges will change.  

Anyone else changed?

[Deleted User]

There has been no reports of planned changes to standing charges on fixed rates.

I'm on V18, and it's going to be about £40pa more expensive than the October SVT based on my usage.  I'm willing to pay that as insurance against the government realising how much all this interference is going to cost them and pulling the scheme early (perhaps at the same 6-month point as the business scheme).  As always, YMMV.

[Deleted User]

[Deleted User] said:

There has been no reports of planned changes to standing charges on fixed rates.

I'm on V18, and it's going to be about £40pa more expensive than the October SVT based on my usage.  I'm willing to pay that as insurance against the government realising how much all this interference is going to cost them and pulling the scheme early (perhaps at the same 6-month point as the business scheme).  As always, YMMV.

I'm scheduled to go onto v18 on 1st October from v7 and for my anticipated usage I would expect to pay an extra £57 over the next year so in the same ball park area as your mileage - although I don't have the precise rates/SC in the North East for the EPG yet (I'm just going off what MSE and EDF have published so far but I have no reason to expect any difference).  But, as you correctly state, for some (yourself inc) this may be a price worth paying.

I'm hovering on whether to move to v18 and I may yet decide to revert to the October SVT in the next week.

   

[Deleted User]

[Deleted User] said:

[Deleted User] said:

There has been no reports of planned changes to standing charges on fixed rates.

I'm on V18, and it's going to be about £40pa more expensive than the October SVT based on my usage.  I'm willing to pay that as insurance against the government realising how much all this interference is going to cost them and pulling the scheme early (perhaps at the same 6-month point as the business scheme).  As always, YMMV.

I'm scheduled to go onto v18 on 1st October from v7 and for my anticipated usage I would expect to pay an extra £57 over the next year so in the same ball park area as your mileage - although I don't have the precise rates/SC in the North East for the EPG yet (I'm just going off what MSE and EDF have published so far but I have no reason to expect any difference).  But, as you correctly state, for some (yourself inc) this may be a price worth paying.

I'm hovering on whether to move to v18 and I may yet decide to revert to the October SVT in the next week.

   

Yes, just to confirm, I've not seen any rates yet - I've done my own sums based on the MSE/EdF data.

Interestingly, I had a twitter DM chat with the customer services rep to float the idea of refunding (fix-SVT) overpayments through the period where they were advising everyone to stay put and see what happens.  Seems like several people have had similar queries, but any prospect of refund was strenuously denied with "we only advised, you made the choice" - a stance with which I personally agree but others might not.

FreeBear

From Eon.Next - https://www.eonnext.com/electricity-and-gas/energy-price-guarantee

For those customers on fixed rate tariffs paying by Direct Debit, a ‘floor’ unit price will come into effect on 1 October. For gas, it will average at 10.3p/kWh and for electricity at 34p/kWh. We're introducing a floor unit price because some people will have fixed at much lower prices some time ago, meaning their annual payments will already be below the £2,500 average set by the government’s Energy Price Guarantee.

Unit price reductions of up to 17p/kWh for electricity and 4.2p/kWh for gas will apply to fixed tariff customers to bring their unit prices down to, but not below, the floor unit price. Customers on fixed rate tariffs that are already below the floor unit prices will continue to enjoy those low prices, but won't receive a further discount for the duration of their fixed term.

For the small number of customers who fixed at a high rate exceeding the October Ofgem price cap of £3,549 (£3,674 paying on receipt of bill), they will receive the full discount of 16.998p for electricity and 4.2p for gas. To make sure that those customers also benefit from the EPG we will bring their fixed price down to be in line with the government's £2,500 average threshold.

We will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme. We're contacting customers directly over the coming days to confirm what the Energy Price Guarantee (EPG) means for them and how, together with the Energy Bills Support Scheme (EBSS), it will affect your bills.

If I read that right, if your fix was going to be above the October cap, then your rates will drop to the new EPG cap. But they really do need to pull their fingers out to contact all the customers that are going to be affected.

[Deleted User]

FreeBear said:

From Eon.Next - https://www.eonnext.com/electricity-and-gas/energy-price-guarantee

For those customers on fixed rate tariffs paying by Direct Debit, a ‘floor’ unit price will come into effect on 1 October. For gas, it will average at 10.3p/kWh and for electricity at 34p/kWh. We're introducing a floor unit price because some people will have fixed at much lower prices some time ago, meaning their annual payments will already be below the £2,500 average set by the government’s Energy Price Guarantee.

Unit price reductions of up to 17p/kWh for electricity and 4.2p/kWh for gas will apply to fixed tariff customers to bring their unit prices down to, but not below, the floor unit price. Customers on fixed rate tariffs that are already below the floor unit prices will continue to enjoy those low prices, but won't receive a further discount for the duration of their fixed term.

For the small number of customers who fixed at a high rate exceeding the October Ofgem price cap of £3,549 (£3,674 paying on receipt of bill), they will receive the full discount of 16.998p for electricity and 4.2p for gas. To make sure that those customers also benefit from the EPG we will bring their fixed price down to be in line with the government's £2,500 average threshold.

We will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme. We're contacting customers directly over the coming days to confirm what the Energy Price Guarantee (EPG) means for them and how, together with the Energy Bills Support Scheme (EBSS), it will affect your bills.

If I read that right, if your fix was going to be above the October cap, then your rates will drop to the new EPG cap. But they really do need to pull their fingers out to contact all the customers that are going to be affected.

Interesting, I can see how you read it like that.

The government information and everything we see from other suppliers is different, it says that if your fix was going to be within 17p electric and 4.2p gas of the EPG cap then it will drop to the new cap.  If the fix was not within that range, you will get the 17p/4.2p discount but not more.

GreenCustomer

Thanks for that @FreeBear.
The new paragraph...

'For the small number of customers who fixed at a high rate exceeding the October Ofgem price cap of £3,549 (£3,674 paying on receipt of bill), they will receive the full discount of 16.998p for electricity and 4.2p for gas. To make sure that those customers also benefit from the EPG we will bring their fixed price down to be in line with the government's £2,500 average threshold."

...is not yet showing on Sainsbury Energy website.

grn99

From chat with Sainbury's this morning querying st charges and announcement timeline...."Good morning, our fixed tariffs are still under review, these revisions will be amending the unit rates, as well as the standing charges to fix within the governments price cap freeze. "

GreenCustomer

Good to know.

Looks like everything will be done automatically within the fixed tariff and we will not have to request to go on the SVT/EPG.
Also retaining any benefits of being on a fixed tariff (removal of EPG/double nectar points).

spot1034

I'm on Next Onilne v15 E7 version, which has an unusually favourable split between day and night unit prices for me, to the extent that even with night usage around 20% my average unit cost is between 2p and 3p lower than the standard rate. I'm hoping this will  be maintained so that over the remaining ten months or so I will be able to claw back my overpayment prior to Oct 1st. But I still don't know if this will be the case, and it's now too late to save anything significant by jumping back on to the SVT. I appreciate it's not E. On Next's fault that this has happened, but the lack of notice is still very frustrating.

Metalingus84

I'm due to change 6th October. I contacted Eon by email due to being on holiday shortly as I dont want to worry about energy whilst sipping cocktails.

They advised that they don't know how the EPG will affect people on fix tariff yet, but when they do, they will happily do whatever they can to put me on the cheapest deal for me.

That's fine for me for now.