On eon next pledge v1 should I go to edf essential

minority

I see edf essential is about to be pulled and I am trying work out my best option as the energy club has confused me.


So I believe from what I have read edf will be overall cheaper if predictions are correct than sticking with the price cap tariff.

However my eon next pledge is due to expire and I have no exit fee but I am confused ic I go onto another eon next pledge and with it 3% below price cap pledge does that make it cheaper if price cap prediction is correct.

Obviously if something happens in world and price cap goes up 5% later on and more next Jan then edf is the best bet....I think

Danceswithhorses

I'm in the same boat.
Eon next Pledge V1 seems to have no exit fee which is nice, so i'm also just weighing up whether to stick or twist.

If things kick off (even more) in the middle east (Iran especially), will that lead to increases in oil prices, and eventually our gas + elec bills ?
If so, the edf fix could be better, but who knows what the future holds...it's all guess work.

Also, TCB are offering cashback of £44 (£22 per fuel) through their 'TopCashback compare energy', which is better than Cheap energy club @ £20...sorry Martin 

minority

My gut is saying for it purely based on last few years with how the prices have always had external factor which has moved the expected price cap in wrong direction and the pessimist in me these days just doesn't see it changing now lol

spot1034

Predicting what will happen beyond the next price cap is nothing more than guesswork. Look back at Cornwall Insight predictions for the longer term and see how wrong they have turned out. They only claim to have been right because they keep updating their predictions as the date gets closer - a bit like the long range weather forecast which is often completely wrong but they claim to have been right because they kept updating their original prediction until it said something completely different!

They can have some idea about the next price cap as we are already half way through the assessment period, and unless there is a very sharp rise in the wholesale market between now and mid-May we should see a further fall in the price cap and that will make Pledge cheaper than Essentials for the three month period starting July 1st. Beyond that, no one really knows.