EON - Moving From Economy 7 to Single Rate, and Also to Fixed Rate?

GSP

Does anyone see a problem with me doing this?

We have economy 7, but our monthly nightly units are only 10%-15% of the total units. So in that instance I guess it’s best to move to a single rate?

And for certainty, while rates are lower I might as well take advantage of the lower April offers and fix the rate. There’s been mention that rates could go lower on July’s review, but what are we talking about here? A ‘few pennies’? My guess is they would not drop too far off what they are now, there can’t be much more they can go down, can they?
And potentially if things happen as we know they can overnight, I can imagine numbers will go up pretty swiftly and totally destroy expected July’s forecasts?

Not sure if it’s me, but I find the Eon website not easy at all to see rates. While I received a letter stating what our variable rate will move from on 31 March to 1 April, for me anyway I can’t see what the fixed rates will move from and to if anyone has any idea thanks.

spot1034

There is certainly scope for a further fall in July, as the price cap announced for the period April to June is a reflection of wholesale rates which fell significantly during the assessment period, so were based on an average somewhat higher than where the wholesale price was at the end of the period. That said, rates have risen off their low recently, so in the end you could be right, there might not be too much change but we are only about a third of the way through the assessment period for the July to September price cap, and it is too early to make a sensible prediction.

One thing I would say if you are thinking of taking a fix and changing from Economy 7 to single rate - with E.On Next you should make this clear at the time you request the fix, as they can be rather uncooperative and refuse to make any changes once you're on it. Or you could go on to single rate whilst remaining on the SVR and wait to see what happens with fixes in the months to come. You'd probably need to phone them rather than just request it through your online account. Good luck!

Swipe

Don't expect a change from E7 to single rate on E.On Next to be done very quickly either. 

Slinky

Is it an old style E7 meter? Might be worth upgrading to a smart meter and moving to single rate on that. 

We had E7 which wasn't worth having for the same reasons you have said, we just couldn't make it pay. Some suppliers won't allow you to go onto a single rate with a dual rate meter. We had a fix with Outfox the Market on single rate, but they put us on dual rate when the fix ended and refused to put us on single rate. We had to change supplier. We went to EDF who said they could put us on single rate after being on dual rate for 28 days, then when I contacted them to sort out the change, they denied they could do this. I had to raise a complaint via Resolver to get the single rate. It was all a lot of faff and hassle and I was happy to swap to a smart meter with a single rate in the end.

GSP

Slinky said:

Is it an old style E7 meter? Might be worth upgrading to a smart meter and moving to single rate on that. 

We had E7 which wasn't worth having for the same reasons you have said, we just couldn't make it pay. Some suppliers won't allow you to go onto a single rate with a dual rate meter. We had a fix with Outfox the Market on single rate, but they put us on dual rate when the fix ended and refused to put us on single rate. We had to change supplier. We went to EDF who said they could put us on single rate after being on dual rate for 28 days, then when I contacted them to sort out the change, they denied they could do this. I had to raise a complaint via Resolver to get the single rate. It was all a lot of faff and hassle and I was happy to swap to a smart meter with a single rate in the end.

No, we already have a smart meter.

GSP

spot1034 said:

There is certainly scope for a further fall in July, as the price cap announced for the period April to June is a reflection of wholesale rates which fell significantly during the assessment period, so were based on an average somewhat higher than where the wholesale price was at the end of the period. That said, rates have risen off their low recently, so in the end you could be right, there might not be too much change but we are only about a third of the way through the assessment period for the July to September price cap, and it is too early to make a sensible prediction.

One thing I would say if you are thinking of taking a fix and changing from Economy 7 to single rate - with E.On Next you should make this clear at the time you request the fix, as they can be rather uncooperative and refuse to make any changes once you're on it. Or you could go on to single rate whilst remaining on the SVR and wait to see what happens with fixes in the months to come. You'd probably need to phone them rather than just request it through your online account. Good luck!

Okay, thank you for the advice on that.

GSP

Swipe said:

Don't expect a change from E7 to single rate on E.On Next to be done very quickly either.

Thank you. Yes, that seems to be a ‘theme’ echoed by others.

GSP

As an update, I have just missed speaking to anyone at the company today as they are now closed, but their tariff for a single rate will be c25p per unit come April, much lower than my c33p/11p on my Next Flex economy 7.