Eon Next

carolflow

Please help and be kind 🙏🏼 I'm on lots of morphine and my brain won't process this 🤯
I have been on the next winter support fixed 50 which is about to change on April 1. They are moving me onto the standard variable next flex tariff, but they are offering me a "" special offer"" the next assured fixed 15m v1. I'm totally confused as to which will be better for me. Any advice gratefully received 🙏🏼🙏🏼🙏🏼

Swipe

How does the new fixed rate on offer compare to your current fixed rate and what you'd be on after 1st April if you didn't fix?

apw81

The fixed 15m v1 is slightly better than the standard tariff. Whether it will still be so during the entire 15 months is the gamble no one can answer. However, coming off the Fixed 50 (50% discount on the standard tariff for low-income and vulnerable households, for those unaware), you’re going to feel the difference no matter what you choose to do.

I’m tempted by the 15m v1 but my individual circumstances risk breaking the 15 month contract and facing the exit fee. If it wasn’t for that, I think I would go for it. 

Scot_39

Without the actual xxp /kWh rates and SC nearly impossible to say.

As special tariffs often wont be posted openly.  The excel price comparison I found - see below - was an EOn customer on winter 25 - so might be restricted.

The winter support 50 - sounds like their heavily - actually 50% discounted - special to long term struggling  customers for a limitted time this winter

https://www.eonnext.com/blog/winter-affordability-support-scheme


In trying to get a feel for the fix - found this thread on EOns own community forum for instance 

Assured 15m v1 apparently not open offered to all - and may have different conditions - exit fee ?.

Better I.e.  Cheaper then EOns other fixes on offer at the time was the finding for their usage  by one offered assured 15m v1 here.

https://community.eonnext.com/threads/8226-Is-it-Time-to-move-to-a-Fixed-Tariff/page7

There is a spreadsheet on that page of someone on winter 25 currently showing c21p rates (about 25% below Jan to Mar svt c28p average - hence my orry 25 means 25% discount and you might be lower still on 50% discount ) vs available options. 

For that user usage pattern  15mv1 was around £120 cheaper c£1188v s c£1305 than Apr SVT rates (- £30 of that on his regional SC rise - which was c 2x regional average) - £200 vs current SVT (Jan to Mar 31 cap now ending) .

Assured 15m is next cheapest at the time - but over £160 higher than their current  winter 25 - which itself logically higher than winter 50 - if as my guess correct - 25 and 50 in tariff names  are the effective discount rates.

Edit: the other unknown vs pre deal is your debit balance - or how much of your monthly DD or a formal debt arrangement component - was due to any account debt.  Must have been in some form a debt - as wouldn't have qualified for 50% offer.
As you may well also have that debt written off tomorrow.  Again see  scheme  link 
So that would also impact the difference in overall costs going forward.

But fix vs svt is not simple - at best of times.
And in cases like yours - an additional risk - a fix could look bad if EOn repeated some form of winter special. But compared to last - this coming winter rates are forecast to be c20% lower -  so my guess maybe lot less likely. Maybe not impossible though - suspect few expected EOn to give as generous a deal to help last year.

And a draft of fixes have been updated in weeks since that users table drawn up.


Any chance you could quote SC and unit rates for the current and 2 new deals.  Or just the total projected costs of new for your use and exit fees for the 15m v1  fix?

kten

if it still offers next winter support fixed 50 or something similar later this year and you are on a fixed tariff for 12 or more months, then you may not qualify for it (the so called social tariff) as you are still in your fixed term. That's my guess.

Scot_39

kten said:

if it still offers next winter support fixed 50 or something similar later this year and you are on a fixed tariff for 12 or more months, then you may not qualify for it (the so called social tariff) as you are still in your fixed term. That's my guess.

Yes that's clearly an additional risk for those on qualifying income etc like OP.

But rates are dropping cf last winter - albeit CI forecast this month by less than their forecast last.

Current q4q1 c23.93 sr ave - vs 28.6p curent - 16%
Gas 5.63p vs 7.4p - 24%.

So is a 25% special still as warranted? 


And looking at wider income vs cost position - simply another round of higher benefit and min wage rises kicking in on Monday as well. 

The 50% was for their in debt customers - but it included the promise to clear that Sep 23 level debt if customers  paid all bills for the duration. So does no debt =  no repeat of 50% special ?

But countering that is also the jump in debt help special allowance in latest cap  - from £11 to £27 (or £28?)  which perhaps suggests if anything more help to come.

But if debts are about to be cleared for OP - does a debt aid / write off allowance then matter  - in future (is that £28 essentially in part paying EOn back for the existing clearance offer for their qualifying customer base even - and any new aid will go to those in debt who didn't qualify for Sep clearance ).

It's all crystal ball and speculation on my part.

But certainly arguably much more significant a risk say than those looking at a couple of p or not on unit rates movement on svt vs fix  over 12 or 24m life of fix. 


And then their are increasing calls for a genuine social tariff across all suppliers.

Although given its a mixed picture on water firms across UK - I don't expect a step change imminent but it is an election year - not perhaps until after election - if Labour or Lib Lab SNP pact - probably more likely.

spot1034

I see from the offers being made available for me to switch to in my online account there is now Next Pledge Tracker v4 which has no exit fees - as opposed to previous versions  which had a £25 per fuel fee.