Cheap Energy Club disappointing

rufford155

Today's MSE email said that the E.on Next 18 month fix would be 8% cheaper than the cap.
Cheap Energy Club said "No saving, £5 per year extra" !
I know there's a rider that the result depends on location and usage, but that's a heck of a difference.
I'd love to know where the 8% saving is correct.

Newbie_John

8% less than exisiting cap price

so if the current unit of energy is 24.5p/kWh then this is 22.5p/kWh

the rest is based on average joe with average usage

cap with go up and down every 3 months in the next 18 months so really hard to predict if this will be cheaper or more expensive, a bit of gamble - what you know it's cheaper now, likely cheape rnext quarter.. but then? 

molerat

For me it is £135 cheaper than the capped tariff, 6.3% on my use, but still £62 dearer than my current Eon fix

rufford155

Many thanks for that, I understand now that I misunderstood - the important clue is the word "rate" in the headline.
18mth fixed energy rate 8% cheaper than the Energy Price Cap.
But it is misleading as the next sentence "E.on Next's 18mth fix is now 8% LESS than the October Price Cap" contains no such qualification.
The final rider, which I mentioned, covers any possible misunderstanding I guess.
But the bold headline is almost clickbait and hardly worthy of MSE.
I would expect plenty of others have made the same mistake.

MACKEM99

When comparing check unit prices and standing charges against each other, dont look at headlines.