Is it worth fixing?

baker5518

I've got an option to fix my energy prices for a year and the rates and standing charges are lower than what I'm currently paying on the standard variable rate.  Is it worth fixing now or wait until the new price cap comes in and see what happens?

Current Standard (Variable Rate)
Electricity - 31.69p per KWH, 51.26p Standing Charge
Gas - 9.96p per KWH, 27.72p Standing Charge

New Fixed Rate
Electricity - 30.18p per KWH, 39.98p Standing Charge
Gas - 8.95p per KWH, 15.26p Standing Charge

Robin9

Is there an exit fee with what you are being offered?  

baker5518

Robin9 said:

Is there an exit fee with what you are being offered?  

£75.00 per fuel. So, if my maths is correct, £150 to exit to a new deal.

bristolleedsfan

baker5518 said:

Robin9 said:

Is there an exit fee with what you are being offered?  

£75.00 per fuel. So, if my maths is correct, £150 to exit to a new deal.

You should be able to switch to another Eon Next tariff without exit fee, seems to be inconsistent wordings within offer texts and T+C.

https://forums.moneysavingexpert.com/discussion/comment/80064774#Comment_80064774

Scot_39

For the year ahead - it might be better - to compare against the lower new cap in July - which is c7.5p gas and c29p electric iirc.

And maybe a look at Cornwall insights Q4 and Q1 24 forecasts at

https://www.cornwall-insight.com/press/cornwall-insight-release-final-forecast-for-july-price-cap/

Both cheaper than your fix.

EOn from posts here have been offering a fix to some loyal customers - and have recently updated it to a v2 - with higher SC - but lower unit rates - both SC and unit rates closer to new cap levels.