EON Price Protecion Rate

arealhighlander

With Martins warning on this weeks newsletter about how energy prices could go up by 35% and people should consider price capping, I thought I'd look at what my current supplier can offer.

For my region and usage EON always appear in the no.1 or 2 slot in the switching sites.

At present I am on Online Extra Saver 5 (interestingly Extra Saver 6 is much more expensive!). I compared this with their Price Promise capped to Oct 09 rate. All rates inc. VAT.

Extra Saver 5 - first 900 units, 16.0545p, next units 9.639p
Price Promise - first 900 units, 18.2595p, next units 10.962p

So at the moment the Capped rate is 13.7% higher than my current rate.

As Martin said, as soon as the price increases are announced the Capped offers or rates may soon disappear/increase. So at the moment the question is change now on the gamble that EON will be putting their prices up more than 13.7% between now and Oct 09 (almost certainly given the price of oil/gas) but its a question of when to change so that you can pay the higher capped rate for the smallest amount of time but also before the withdraw the capped offer.

crowie

arealhighlander wrote: »

For my region and usage EON always appear in the no.1 or 2 slot in the switching sites.

At present I am on Online Extra Saver 5 (interestingly Extra Saver 6 is much more expensive!). I compared this with their Price Promise capped to Oct 09 rate. All rates inc. VAT.

Extra Saver 5 - first 900 units, 16.0545p, next units 9.639p
Price Promise - first 900 units, 18.2595p, next units 10.962p

I am currently with Eon on

Elec - 19.6455p first 900, 10.647p rest

Gas - 4.5696p first 2680, 2.9127 rest


Had a look at the Price Protection v14 capped to 1 Oct 2009 and it was quoting me

Elec -20.034p first 900, 10.857p rest

Gas - 4.66095p first 2680, 2.97045p rest


I take it then there are different rates for differnent areas of the country (I am in Scotland) then? I wasn't aware this was the case.

Considering the Price Protection would only see me paying just under 2% more on last bill usuage based on my current rates then I think its a no brainer for me to switch to the capped prices even now.

Gambler

28% difference for me (Manweb area) between saver 5 and the price protection.

Gambler

arealhighlander wrote: »

With Martins warning on this weeks newsletter about how energy prices could go up by 35% and people should consider price capping, I thought I'd look at what my current supplier can offer.

For my region and usage EON always appear in the no.1 or 2 slot in the switching sites.

At present I am on Online Extra Saver 5 (interestingly Extra Saver 6 is much more expensive!). I compared this with their Price Promise capped to Oct 09 rate. All rates inc. VAT.

Extra Saver 5 - first 900 units, 16.0545p, next units 9.639p
Price Promise - first 900 units, 18.2595p, next units 10.962p

So at the moment the Capped rate is 13.7% higher than my current rate.

As Martin said, as soon as the price increases are announced the Capped offers or rates may soon disappear/increase. So at the moment the question is change now on the gamble that EON will be putting their prices up more than 13.7% between now and Oct 09 (almost certainly given the price of oil/gas) but its a question of when to change so that you can pay the higher capped rate for the smallest amount of time but also before the withdraw the capped offer.

Are you taking the online/DD discounts into your calculation. Energysaver 5 is 18% whereas capped price is only 9%. That's why the difference for me is a huge 28%.

Ziggy_Stardust

I'm looking to switch to a fixed or capped rate. E.on seem to be giving the best rates plus I can get cash back via quidico but I can't fathom out the difference between the Energy Saver rate or the Price Protection v14 rate, they are both quoting me the same price but it seems to me that they are the same product, I'm confused

arealhighlander

crowie wrote: »

I take it then there are different rates for differnent areas of the country (I am in Scotland) then? I wasn't aware this was the case.

Thats why I said "for my region". I am in the Scottish Hydro region, and yes, each region has a different price.

Gambler - no, sorry I didnt take any discounts for DD/paperless etc. into account. So that would maybe only be about 4% higher for the capped? Its very tempting as prices MUST go up shortly given the price of oil/gas. And a cap for 18 months is quite good.
*EDIT* Oops, no, wrong way round. I get LESS discount on the Capped, (only 9 rather than 18%) so that makes the Capped rate not 13% higher but 22% higher, not that good really.

Ziggy, when I checked the prices, it gave the exact same price per unit for the Energy Saver v6 and the Standard Electricity, their prices differences seem to be inconsistant between different regions.

Gambler

arealhighlander wrote: »

Thats why I said "for my region". I am in the Scottish Hydro region, and yes, each region has a different price.

Gambler - no, sorry I didnt take any discounts for DD/paperless etc. into account. So that would maybe only be about 4% higher for the capped? Its very tempting as prices MUST go up shortly given the price of oil/gas. And a cap for 18 months is quite good.

Ziggy, when I checked the prices, it gave the exact same price per unit for the Energy Saver v6 and the Standard Electricity, their prices differences seem to be inconsistant between different regions.

I noticed the 3 year fix with Scottish Power wasn't much different to Eon.

dellxps

The Energy Saver and the Price Protection unit prices are the same.

The difference is that Energy Saver is a fixed term contract and if you leave supplier or stop paying by direct debit before the end date you have to pay a £35 cancellation fee. The reason that there is a cancellation fee is that you get an Energy Usage monitor which is apparent worth more than £40.

The unit prices on Energy Saver are protected until 1st oct 09.

Price protection= rates capped, no fixed term, no energy monitor.

the_devil_made_me_do_it

I'm already with EON. I'm on standard tariff elec and gas. Should I be looking on their website for protection deals?

arealhighlander

the_devil_made_me_do_it wrote: »

I'm already with EON. I'm on standard tariff elec and gas. Should I be looking on their website for protection deals?

Well you should at least go onto EONs website and see what other tarrifs are available to you. There may be a cheaper tarrif.

I was on Energy Saver 4 a few months back, someone on here mentioned Energy Saver 5, I went onto the website and found if I changed to that tarrif I could knock about 15% off my current rate. Switched via the website, no problem at all. Its always worth checking to see if a better rate is on the go, its no hassle to change.

As to whether you should change to a price protection tarrif, thats up to you to decide. The price protection ones are slightly higher at present, but if electricity/gas increases in price (maybe up to 35% some say) then you will end up on a better deal. Its a bit of a gamble as to when to change or when prices will go up.

TIGs

Just looked on Eon site, i'm with them now, its doesn't seem too much of a difference if i swaped to a fixed rate thingy, maybe a few pence,

What happens if energy prices go down??? i know the chances of that happening are very slim but does it go down on your fixed rate too or does it stay the same till October 2009?

Sorry if i'm being thick