What rates are you being offered at the moment ?

Devnon

My Eon Next Online v14 fix comes to an end on 18th June '23. ( South West region ).
We have been offered a next Loyalty 12m Fix- July Issue 1 with rates for Elec - unit price 30.09p per kWh & standing charge 43.98p per day & Gas - 8.47p per kWh & standing charge 14.81p per day.
As we are fairly low users ( 1328 kWh for Elec & 8988 kWh for Gas ), this seemed a reasonable deal to sign up to, as it was a significant reduction on our previous tariff, particularly on the standing charge; only time will tell !!
 

SaverRate

The new average price cap from July is

Gas: Unit rate: 7.51p per kilowatt hour (kWh)

Standing charge: 29.11p per day

Electric Unit rate: 30.11p per kWh

Standing charge: 52.97p per day

So your fix is cheaper (the only rate thats higher is gas unit rate). 

Whats the exit fee on the tariff? The price cap is expected to reduce in October then rise slightly in Jan but still lower than it is now. 

If you like certainty its worth fixing but possibly cheaper fixes could come about in the next few months so its a difficult one. 

Devnon

The exit fee is £75 per fuel, but I've always found Eon are pretty good & you can usually change to a different tariff if you stay with them.
I don't think we'll be too far off the variable rates or other fixes for the next year.

Stingy_Samson

Devnon said:

The exit fee is £75 per fuel, but I've always found Eon are pretty good & you can usually change to a different tariff if you stay with them.
I don't think we'll be too far off the variable rates or other fixes for the next year.

I’ve been waiting for today’s exact figures to make my decision. My Eon v14 fix runs out on the 19th June so weighed up my usage. I’m also quite low like you (Elec 1800kwh, Gas 6500kwh).

The North West figures for the new 12M are a tad lower than yours (Elec SC 37.11p and 30.02 p/unit, Gas SC 14.81 and unit rate 8.36), so it’s a nice winner over the SVR standing charges, and during the summer, the low gas usage will hardly be noticeable. 

I whatsapped them this morning asking about the exit fees to get clarification, and indeed, you can switch to their standard tariff at anytime during the 12 months. The fees ONLY apply if you leave them and go to another supplier.

This is nice to know for a few reasons. If prices drop a lot more than currently predicted by Cornwall Insight, it gives me an option to drop down to a much more noticeable gas unit price reduction during the winter months and ditch the fix. It also gives us the freedom to switch to the standard at anytime, and shortly after change suppliers too I guess if a magic deal elsewhere comes along (although I’m quite happy with the Eon rates).