Eon Next Flex - something strange going on?

tyrex

Currently on Eon Next Flex paying 10.2p/kWh + 29.11p/day for gas, 33.98p/kWh + 43.66p/day for electric. I assumed this was all in line with the Ofgem price cap.

I've just used the 'Renew tariff' option in my online account and am being offered Next Flex with prices of 7.4p/kWh + 29.11p/day for gas and 30.72p/kWh + 43.66p/day for electric, seemingly with no exit fees etc. It's offering me the option to click through and change my tariff with the prices starting tomorrow.

This represents a fairly significant saving on my bill but I'm obviously a bit suspicious about making the jump. Are energy suppliers known to be offering unfixed/variable tariffs below the price cap at the moment?

QrizB

The new.rates look suspiciously like the Ofgem cap that will be introduced in July.

Congratulations if you can get them three weeks early!

Scot_39

 As QRiz - those look like the July rates - perhaps being posted early for those about to leave fixes.

They match within 0.01/0.001p the EDF July tabulated figures for DD in Eastern billing region - for both gas and electric (which they say match the new Ofgem cap - or for PP Ofgem cap - EPG discounts)

https://www.edfenergy.com/sites/default/files/dm1903_standard_variable_deemed_and_welcome_rate_card._for_customers_with_standard_e7_smart_payg_and_prepayment_meters.pdf

I would be surprised if selecting the tariff would have any impact at all - as you are already on that tariff.  And your prices will change in July regardless - as they cannot charge you more than the Ofgem cap for a default / SVT tariff.

EOn are currently offering a fixed tariff to some coming to end of other fixes - it is now on Version 2 - but that is obvious from it's name - "Next Loyalty Fixed V2" from other posts here on MSE. In at least one post - they have offered identical prices as the new variable SVT for July - but there appears some debate on the £75/fuel exit fee terms.

I suspect in a couple of weeks - you will get an email for the July price change summary - mines came on 23rd Mar for Apr price change - confirming new rates from July - Sep cap period.