Eon sent a fix offer

jadey2024

Hi everyone, 

I'm with EonNext, Economy 7 and have been on a fix for almost 12 months. My fix ends on June 18th. I currently pay 39p day rate, 13p night rate and 44p standing charge.

Once current fix ends, and if I don't fix on another, I'd be automatically moved to a tarriff of 43p day rate, 15p night rate and 50p standing charge.

The fix offer they have sent me is for 12 months and is 40p day rate, 12p night rate and 36p standing charge.

Obviously prices are to come down in July so I could be worse off fixing but if they go up in October, I could be better off or maybe not. 

I had never thought about fixing at all after this current one ends and was just going to allow myself to be put on to their automatic tariff but I was just wondering what peoples thoughts were? 

Does anyone know of any idea of E7 possible prices for Economy 7? Although I know it is likely too soon for that.

I think this fix is a short term offer.

[Deleted User]

Hi @jadey2024 Ofgem will be publishing the price cap rates for July tomorrow and we should start to see supplier rates a few days after that. It's a bit more complicated for E7 than it is for single rate tariffs because the suppliers have some flexibility to decide how to split the cap between day and night rates. I'd suggest waiting for a few days to see what the new rates are and then you can make an informed decision.

matt_drummer

My fix with Octopus ends in September.

If I was offered that rate in September I would be happy.

I will soon be all electric with a heat pump and I only import from the grid for two or three months a year and nearly all of it will be at the night rate.

I would be quite happy at 12p.

I think you just have to ask yourself if you would be happy at those rates knowing what you know today.


I doubt you would be significantly worse off at those rates even if there were some cheaper deals around later.

You could, however, be much worse off on a SVT, who knows what the state of the market will be like in six months time.

jadey2024

matt_drummer said:

My fix with Octopus ends in September.

If I was offered that rate in September I would be happy.

I will soon be all electric with a heat pump and I only import from the grid for two or three months a year and nearly all of it will be at the night rate.

I would be quite happy at 12p.

I think you just have to ask yourself if you would be happy at those rates knowing what you know today.


I doubt you would be significantly worse off at those rates even if there were some cheaper deals around later.

You could, however, be much worse off on a SVT, who knows what the state of the market will be like in six months time.

The 12p is good. That's what is making me think because who knows what it could be in the winter. I'd have to act quickly too because in the past, when energy prices have come out, I ended up losing out on great fixes that got pulled quickly because I waited too long on what might be. I would likely be worse off on summer day rates though on this fix potentially. But then, I've been paying 1p less for almost 12 months so I won't notice much difference from this past year if I went on the fix. Worse part about E7 is we are usually the last to know our tarrifs lol. 😭

jadey2024

[Deleted User] said:

Hi @jadey2024 Ofgem will be publishing the price cap rates for July tomorrow and we should start to see supplier rates a few days after that. It's a bit more complicated for E7 than it is for single rate tariffs because the suppliers have some flexibility to decide how to split the cap between day and night rates. I'd suggest waiting for a few days to see what the new rates are and then you can make an informed decision.

I could wait. Just hopefully it don't get pulled by time my E7 prices come out. I've missed out on great fixes in the past for it. 

matt_drummer

My view is that this time of year is a good time to fix.

Usage is low and the suppliers can probably buy forward at advantageous rates.

What they would be able to offer in the winter is just a guess.

As I said, I would take those rates if I were offered them today.

I prefer to know what I am going to be paying and don't really like leaving it to chance.

But then also, I wouldn't be looking around later trying to find a reason to regret what I had done.

jbuchanangb

E.ON is offering fixed rate tariffs to customers whose current fixed rate tariffs are ending. They are being very selective, and these offers typically disappear after about 7 days. I've just accepted one to start on 2 July when my existing fix ends. There is an exit fee if you switch away from E.ON, but I think there is a penalty free option to revert to the SVR if circumstances dictate.

[Deleted User]

You really have to make your own choice but FWIW having looked at today's anouncement that fix looks pretty good so personally I'd go for it on the bird in the hand principle...

jadey2024

Thanks guys. I've decided to fix on it. 

JacBee

I also have an offer from EonNext which works out at 23% cheaper. As MSE say that the price cap will be 17% cheaper, I have also fixed.

CSI_Yorkshire

JacBee said:

I also have an offer from EonNext which works out at 23% cheaper. As MSE say that the price cap will be 17% cheaper, I have also fixed.

I hope that's based on your actual use and the actual unit prices, not just an overall average?

I think it is, but just checking!