EonNext Next Pledge Tracker 12m V1

AndyPK

Just trying to work out the catch with this one? 
States

Our Next Pledge fixed 1 year tracker tariff guarantees that your prices will always be £50 a year lower than the Ofgem price cap (for an average dual fuel customer).

We’ll automatically update your prices every three months in line with the Ofgem price cap and give you two weeks notice of any price change. Price changes will take effect on 1 January, 1 April, 1 July and 1 October.

If the government Energy Price Guarantee returns we'll move you back to our standard variable tariff. You will need to contact us if you want to stay on Next Pledge.


I was thinking the catch is that they won't lower it in October 2023 ?  but it's only for 12 months, so it won't be October'24

It's not much saving for a lower user (say £34) or high user (say £155)

CSI_Yorkshire

Catch is that it will still go up if the price cap does - not really a 'catch', just more of a 'thing'.

Why were you expecting a catch?  There have been years and years of tariffs that were lower than the price cap (or what the price cap would have been had it existed at the time).

QrizB

CSI_Yorkshire said:

Catch is that it will still go up if the price cap does - not really a 'catch', just more of a 'thing'.

And there's the possibility that some customers will think they have signed up to a fixed tariff, not a cap tracker, and complain if prices increase.

We had a fair few posts like that about the Octopus Price Promise tariff.

spot1034

Is there an exit fee? If so, that's the catch. It's an easy way to get £50 off your bill but if something better comes up it'll cost you to get out.

bristolleedsfan

spot1034 said:

Is there an exit fee? 

No ................

https://forums.moneysavingexpert.com/discussion/comment/80229214/#Comment_80229214

XDA

I’m tempted by this tariff as I can’t see what the downsides are?

I guess it depends whether they’ll lower the tariff in October to match the new price cap?

I’m below average use so I’m not sure what my actual saving would be?

Reed_Richards

No exit fee so I cannot see a downside.  By comparison to the SVT you pay marginally less per kWh and the standing charge is the same (at least that's what I am quoted).  Any saving is likely to be small but so what if there's no downside..   

daztraction

I’ve signed up to the Next Pledge Tracker via the app. I figure with no exit fees it’s worth doing even though I only save £40 a year. The app says that the new tariff will start from 17 Aug 2024, but my e-mail confirms that it starts 17 Aug 2023. Not sure how the app can get that so spectacularly wrong but hey ho.

Peppa537

I've switched to this tracker, no exit fees so I can leave anytime if for some reason e.on have something better to move to. However as prices are supposed to go up again in January after October's drop I can't imagine anything too exciting is going to be offered by any supplier. 

ironlady2022

I went for this as was debating the other 12mo fixed. It's v confusing

StevieMA

Out of interest, when you switched to the tracker deal, can you still see the other available deals, fixed, nextflex, etc that Eon are offering on their app? Is there still an option to switch to them?  Just wondering how easy it is to potentially swap to another deal as offered by Eon before committing.