E.ON Next - Next Loyalty Fixed v4

RG2015

RG2015 said:

spot1034 said:

RG2015 said:

I have just switched from the Next Loyalty Fixed v 4 to the Next Pledge Tracker v2. The saving is relatively small at 7%, but this will always track below the price cap.

The real question is what the price cap will do in January and April. The Loyalty fix would have expired in late June.

So here’s hoping that the price cap doesn’t surge for the first half of next year.

Can we take it that they did not impose exit fees for this internal transfer? I know that was the interpretation of the rules at the time, but the real test was only ever going to be once someone actually went ahead and did it. 

I had to phone up as there was no option to do this online. The agent initially said that there would be an exit fee, but when I challenged this he said that I was correct and the exit fee only applied when changing suppliers. 

I have just looked at my account online and I have been charged an early exit fee of £75.00.

Needless to say I will be claiming this back asap!

RG2015

RG2015 said:

RG2015 said:

spot1034 said:

RG2015 said:

I have just switched from the Next Loyalty Fixed v 4 to the Next Pledge Tracker v2. The saving is relatively small at 7%, but this will always track below the price cap.

The real question is what the price cap will do in January and April. The Loyalty fix would have expired in late June.

So here’s hoping that the price cap doesn’t surge for the first half of next year.

Can we take it that they did not impose exit fees for this internal transfer? I know that was the interpretation of the rules at the time, but the real test was only ever going to be once someone actually went ahead and did it. 

I had to phone up as there was no option to do this online. The agent initially said that there would be an exit fee, but when I challenged this he said that I was correct and the exit fee only applied when changing suppliers. 

I have just looked at my account online and I have been charged an early exit fee of £75.00.

Needless to say I will be claiming this back asap!

The £75 exit fee has been removed this morning following my email which I sent on Thursday evening.

Sea_Shell

Sea_Shell said:

FYI

Interesting email exchange with Eon today.

Received one first thing saying "your DD of £91* is too low, so we're increasing it to £100." Annual estimated cost £1300.

Ok, but, they haven't taken into account my current true credit of £230.  After bill on 1st October, on current readings, but not including my October DD payment.

So I emailed them earlier to request my £230 back, and I've just had a "yes, no problem, we'll credit within 10 days" reply. 😁

So as we head into winter, let's see how far into debit they'll let my account go, before wanting to increase the DD again?

* I'd reduced it down manually last month to the lowest it would allow 😉

The £230 refund hit the bank this morning 😁

RG2015

I have to say that the E.ON Next email people are always very efficient and do what they say they will.

I have had refunds, DD adjustments, answers and clarifications without any problems.

RG2015

RG2015 said:

I have just switched from the Next Loyalty Fixed v 4 to the Next Pledge Tracker v2. The saving is relatively small at 7%, but this will always track below the price cap.

The real question is what the price cap will do in January and April. The Loyalty fix would have expired in late June.

So here’s hoping that the price cap doesn’t surge for the first half of next year.

I have just seen the Next Pledge Tracker v2 rates for January 2024. The new rates increase my monthly charge but this remains 3.5% below the Next Loyalty Fixed v 4 rate that I switched from in October.

And just for information, this is my calculated average monthly charge not the EON Next DD.

Sea_Shell

Sea_Shell said:

FYI

Interesting email exchange with Eon today.

Received one first thing saying "your DD of £91* is too low, so we're increasing it to £100." Annual estimated cost £1300.

Ok, but, they haven't taken into account my current true credit of £230.  After bill on 1st October, on current readings, but not including my October DD payment.

So I emailed them earlier to request my £230 back, and I've just had a "yes, no problem, we'll credit within 10 days" reply. 😁

So as we head into winter, let's see how far into debit they'll let my account go, before wanting to increase the DD again?

* I'd reduced it down manually last month to the lowest it would allow 😉

Manually submitted meter reads yesterday, and by my calculations, we used £140 worth and I'll be in debit by about £32, before the £100 DD hits the account.   Will they want to increase the DD again, yet?   Most likely next month when even the DD won't leave us in credit at all.       

Sea_Shell

RG2015 said:

RG2015 said:

RG2015 said:

spot1034 said:

RG2015 said:

I have just switched from the Next Loyalty Fixed v 4 to the Next Pledge Tracker v2. The saving is relatively small at 7%, but this will always track below the price cap.

The real question is what the price cap will do in January and April. The Loyalty fix would have expired in late June.

So here’s hoping that the price cap doesn’t surge for the first half of next year.

Can we take it that they did not impose exit fees for this internal transfer? I know that was the interpretation of the rules at the time, but the real test was only ever going to be once someone actually went ahead and did it. 

I had to phone up as there was no option to do this online. The agent initially said that there would be an exit fee, but when I challenged this he said that I was correct and the exit fee only applied when changing suppliers. 

I have just looked at my account online and I have been charged an early exit fee of £75.00.

Needless to say I will be claiming this back asap!

The £75 exit fee has been removed this morning following my email which I sent on Thursday evening.

I've just been crunching the numbers and have decided to move from Loyalty V4 to Pledge V3, mid contract.  

I checked to make sure that my paperwork from the V4 stated fees only applicable if you change supplier, before hitting the button.   All done on line.

They have immediately noted 2 x £75 fee on my account, but I'm going to give them a few days for the switch to shake down, as it's most likely that once the switch has formally completed, the fee will be removed automatically.

If it doesn't, within a few days, I'll be emailing them. 

Sea_Shell

I've just logged on to my Eon account and the 2 x £75 fees have been automatically removed.    So no need for an email. 

Well done Eon.

Krakkkers

Can you switch from fixed V4 to another product and then leave Eon without a penalty?

spot1034

Krakkkers said:

Can you switch from fixed V4 to another product and then leave Eon without a penalty?

Presumably in the examples above, the customer moving on to a new fix would incur an exit fee on the new product, and I assume the clock is reset so a new 12 month period begins. 

The alternative - which is what I'm thinking of doing myself in April if things play out as currently expected - would be to request ending the fix and going on to the SVT. Would the V4 exit fee still apply if you then left for another supplier before the end date of your V4 contract even though you're no longer on it? I don't think we would know that unless someone tried it, and I think what I am going to do is just sit on the SVT until the anniversary has passed in the summer. 

I'm thinking of jumping ship to Octopus with a view to going on to Tracker, but made the rather silly decision as it turns out to wait and watch over the winter months, and of-course if weather conditions and the political situation change drastically that could still turn out to be the correct one, but I accept that it doesn't look that way right now.