Renewing EON Next Energy Tarif - what to do?

M

Matt

Well-known member
I am now in the renewal period for my current energy tariff, and don't have the foggiest idea what to do. What's everyone else doing?
 
As above. Stay on standard variable rate, fixes will be extortionate. Other companies will also be at the price cap so pointless to move.

Don't fall for any utility warehouse guff about reducing bills by taking out other services with them either, dodgy AF company.
 
I'm with OVO (bought out SSE). They are offering my 1 and two year fixed and I've stayed variable as they seem pretty ridiculous.

They are both best part of £60-£80 more than I'm paying now after the increase (although I know it goes up again in Oct)

The offers are also changing daily. Everytime I log into the app the prices change. That's going up and down. I genuinely don't think they have a clue so not sure how we are meant to know.

My smart meter hasn't even had an electricity price on it since the 1st. Just reads 'waiting for updated data'. It sounds like they are just making it up😂
 
On standard variable now with British Gas. Was paying about £80pm and a new fixed term with them will be £180pm. Staying on the standard variable for now but price cap will be going up again in 6 months so not sure if it's the wisest choice.
 
I agree with the suggestions above and have stayed on Eon standard variable. It`s an increase of about £50 for me but you can get out without charge. That`s if you can find anything better.
 
RexKramer said:
On standard variable now with British Gas. Was paying about £80pm and a new fixed term with them will be £180pm. Staying on the standard variable for now but price cap will be going up again in 6 months so not sure if it's the wisest choice.
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It will but a fix now is massively more expensive so you lose the benefit of the savings between now and then and it will still be more than the increase in oct

The trap people fall into is using direct debit amount. What you need to do is work out for each fuel;

Number of kWh you use each year x unit price
+

standing charge per day x 365

Add those 4 numbers up and divide by 12 and that is what you are going to pay. All info needed will be on bill, online account or renewal emails. Or ring supplier and ask for last 12 months usage for each fuel and current unit rates and standing charge per fuel.

Some providers will just bump your dd, and that can be distorted if you are in credit already and we use less in summer more in winter; but you need to understand costs of actual usage distributed over the year to get a view

You can then add about 50% and that's potentially what it might be in October

Most times you'll find it's still far less than the current fixed rate offers out there which is why the advice is to stay on svr unless you find a fixed offer within a few % of the current price cap e.g 15-20% but they don't really exist. A couple popped up for existing customers of eon but were soon snapped up.
 
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