E.ON Next - Next Loyalty Fixed v4

AndyDragon

It’s a risk and I’ll probably regret it but as the last year has shown us, predictions are tough

jadey2024

I signed up for the V1 a couple weeks ago but I've heard the fixes out since are a little better. Now I'm wondering if I would have been better waiting. I guess I'm stuck on v1 unless I go to the standard rate. 

RG2015

Sea_Shell said:

Aren't Cornwall insights predicting Q3 and Q4 be lower still?  2024?  Too far ahead to make a stab 

Q3 figures were released a few weeks ago and have been on the E.ON website for a couple of weeks. These are lower than the current Government price guarantee.

The forecasts for Q4 are slightly down on the Q3 actuals but so are the V4 rates. As to 2024, I am afraid that the situation on Europe does not look like being resolved any time soon.

As to switching supplier I am very happy with E.ON Next. This is a surprise as I only inherited them when I moved 4 years ago, fully intending to switch to one of the challenger companies. I definitely dodged a bullet there.

Sea_Shell

Sorry, I've just realised that we're about to enter Q3. (£2074)

It's Q4 (£1932)  and Q1 (£1944) they are predicting as lower still.

I think they're the latest figures.

RG2015

ctdctd said:

I'm was on E.on Next Flex Variable, have a smart meter and got an email this morning offering the Loyalty V4.

Reasonable saving on the standing charges for both fuels and a very small saving on the unit rate.

Summary box says £75 for each fuel to change supplier but the 'more info' bit says £75 to exit tariff early.

Have switched - took about a second!

Edit - I was on an E.on fix earlier this year which seems to be why I was offered V4 looking at the comments here.

Where do you see the "more info" bit?

I can see they say in the Ts&Cs they may charge an exit fee but no mention of the £75, only that you should refer to your email or letter.

All my email has is  "An exit fee of £75 per fuel will be applied if you change supplier before your tariff end date"

I also switched in a second and the new rates will take effect at midnight tonight. I guess that I should send a meter reading rather than rely on them pulling it down from my smart meter.

oldagetraveller1

My billing date was yesterday and looking at my account and bill (SMART meters which were conditional with the fix I was on)  they are offering this Loyalty V4 fix. I'm on their SVR since Feb. '22 when a fixed tariff ended.

Very tempting and I am seriously considering switching to it, in spite of the exit fees.

If prices drop during the 12 months, so be it, maybe a risk worth taking, but possibly still worth fixing for 12 months?

ctdctd

RG2015 said:

ctdctd said:

I'm was on E.on Next Flex Variable, have a smart meter and got an email this morning offering the Loyalty V4.

Reasonable saving on the standing charges for both fuels and a very small saving on the unit rate.

Summary box says £75 for each fuel to change supplier but the 'more info' bit says £75 to exit tariff early.

Have switched - took about a second!

Edit - I was on an E.on fix earlier this year which seems to be why I was offered V4 looking at the comments here.

Where do you see the "more info" bit?

When you get the quote, there's a more info button that pops up a window with more tariff details.

[Deleted User]

ctdctd said:

RG2015 said:

ctdctd said:

I'm was on E.on Next Flex Variable, have a smart meter and got an email this morning offering the Loyalty V4.

Reasonable saving on the standing charges for both fuels and a very small saving on the unit rate.

Summary box says £75 for each fuel to change supplier but the 'more info' bit says £75 to exit tariff early.

Have switched - took about a second!

Edit - I was on an E.on fix earlier this year which seems to be why I was offered V4 looking at the comments here.

Where do you see the "more info" bit?

When you get the quote, there's a more info button that pops up a window with more tariff details.

This is what I see

RG2015

ctdctd said:

RG2015 said:

ctdctd said:

I'm was on E.on Next Flex Variable, have a smart meter and got an email this morning offering the Loyalty V4.

Reasonable saving on the standing charges for both fuels and a very small saving on the unit rate.

Summary box says £75 for each fuel to change supplier but the 'more info' bit says £75 to exit tariff early.

Have switched - took about a second!

Edit - I was on an E.on fix earlier this year which seems to be why I was offered V4 looking at the comments here.

Where do you see the "more info" bit?

When you get the quote, there's a more info button that pops up a window with more tariff details.

Thank you. I can see that now.

Exit fees (if you cancel this tariff before the end date) £75.00

It doesn't say per fuel but I assume this is because I am not on the gas network

I am still happy though, as I had never really been concerned that the SVR would significantly undercut the V4 rates in the next 12 months.

In that respect it is much the same as a fixed rate savings account. Some you win and some you lose.

[Deleted User]

RG2015 said:

ctdctd said:

I'm was on E.on Next Flex Variable, have a smart meter and got an email this morning offering the Loyalty V4.

Reasonable saving on the standing charges for both fuels and a very small saving on the unit rate.

Summary box says £75 for each fuel to change supplier but the 'more info' bit says £75 to exit tariff early.

Have switched - took about a second!

Edit - I was on an E.on fix earlier this year which seems to be why I was offered V4 looking at the comments here.

Where do you see the "more info" bit?

I can see they say in the Ts&Cs they may charge an exit fee but no mention of the £75, only that you should refer to your email or letter.

All my email has is  "An exit fee of £75 per fuel will be applied if you change supplier before your tariff end date"

I also switched in a second and the new rates will take effect at midnight tonight. I guess that I should send a meter reading rather than rely on them pulling it down from my smart meter.

If this is what your email states then this 'should' be good enough to exit to Next Flex without fees if the situation changes in the next year to make Next Flex a better option. 

See end of section 11.2 of T&C below where it states 'See your confirmation letter for details'

https://assets.ctfassets.net/gmgnreshss7h/6X8apt4Vh6Iwiyv7o5vkTt/9ea7d881746844f30b1dc7c1913e99f2/Residential_Ts_Cs_July-2022.pdf