E.ON Next - Next Loyalty Fixed v4

Scot_39

Chrysalis said:

Dont think as a light user I would be touching theses fixes with such a high exit fee, thats the equivalent to about 4-5 months of combined usage for me based on my recent bills just to exit.  Literally circa 30-40% of annual spend.

Exit fees have the same problem as SC with the fixed element.

As above post - free to change to another EOn like SVT - and then nothing to pay to swap away from an SVT tariff.

Might add a delay to the process - but not a biggy.

hildasmuriel

Just got my offer

Current monthly cost SVR = £113
new SVR from 1 July = £117
V4 offer = £112


I'm confused. I thought prices were going down by about 17%

CSI_Yorkshire

You're confused because you're not looking at prices and have been distracted by a shiny headline.

Don't look at monthly DD amounts.  Look at unit rates and standing charges.  Nothing else is useful.

hildasmuriel

'Shiny headline'    Every time someone patronises me on the site, I swear I won't bother anymore...and yet here I am 

The upshot is there is so little difference in the unit rates and standing charges that it is not worth getting locked in for a year, just in case something better comes up.

CSI_Yorkshire

hildasmuriel said:

'Shiny headline'    Every time someone patronises me on the site, I swear I won't bother anymore...and yet here I am 

The upshot is there is so little difference in the unit rates and standing charges that it is not worth getting locked in for a year, just in case something better comes up.

The shiny headline in this case is the 17%.  As you will have noticed in your analysis, the different components are changing by vastly different amounts and, as usual, differently in every region.

Not your fault, they rarely talk about the details, but the 17% headlines need to go the same way as the mythical £2500.

RG2015

hildasmuriel said:

'Shiny headline'    Every time someone patronises me on the site, I swear I won't bother anymore...and yet here I am 

The upshot is there is so little difference in the unit rates and standing charges that it is not worth getting locked in for a year, just in case something better comes up.

I only have electricity. When comparing E.ON Next V4 with their new SVR from 1 July my daily charge is 6p cheaper and my unit rate is 0.31p cheaper.

I agree the differences are small. For me the annual saving is about £30. However there is no guarantee that rates will continue to fall after 30 Sept 2023. They may rise. Who knows what new crises will befall us. Russia, China, climate change, change of government?

By signing up to V4 I will get the lowest possible rates from July to September. If rates do fall I can switch from V4 to E.ON Next SVR without charge and then to another supplier if their rate is better.

That is what I call a win win situation.

oldagetraveller1

"The upshot is there is so little difference in the unit rates and standing charges that it is not worth getting locked in for a year, just in case something better comes up. "

That was my thinking too because it's only a v. small difference between SVR (from 1st July) and V4.

In spite of being advised by Eon that there's no exit charge if switching withing Eon, I'm not convinced that would be honoured.

Jill_1980

Thank you everyone for these comments, it's been so helpful in me deciding whether to switch or not. I've just fixed on the new tariff on the basis I can hopefully switch to the variable rate if things go much cheaper. Such a gamble though isn't it, like mortgages and everything else I guess 😩

Lee667

I've got in touch with EON about cancelling my fix from last year and going onto the variable rate. 

The fix I went on just as the cap was announced is 13p a unit more on electric although the sc is 6p more on SVR, and gas is just under 3p more but the new sc is 2p more.

spot1034

Lee667 said:

I've got in touch with EON about cancelling my fix from last year and going onto the variable rate. 

The fix I went on just as the cap was announced is 13p a unit more on electric although the sc is 6p more on SVR, and gas is just under 3p more but the new sc is 2p more.

Did you succeed in getting it done? 

I'm not sure what I'm doing wrong but even though I've been told that it's perfectly possible to end my present fix today - just 25 days early -  actually getting them to do it is a different matter altogether.