Which tariff to choose on Eon Next ?

Posted 22nd Jun 2022

I'm with Eon Next on the Next Online v6 tariff which is coming to an end this month .
They have only 2 options for me which are Next Flex and Next Online v15 where the Flex is variable tariff which goes up and down according to wholesale market.Next Online v15 is a fixed option but expensive and fixed for 12 months. Both have no exit fees.
I'm confused about which option to take.

Any suggestions?

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15 Comments

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22nd Jun
Variable rate tariff looking to rise from 2k now to 3k in Oct and possibly 2.8k next spring

Was 2k now 2.8k Oct and 2.4k next spring but wholesale gas prices soared as Russia reduced supplies more after sanctions tat plus fire at US liquid natural gas storage facility

If the website has updated for that then fixes will be high. If they haven't then fixes might be cheaper

I am on variable tariff as at least the govt regulates it.
22nd Jun
On the variable tariff, Electric £0.2948, Gas £0.732

V15 Fixed, Electric £0.4379 , Gas £0.1077

Standing charges are the same.

Fixed for a year is approx 48% more expensive per KWH on electric & gas.

Personally, I went for the variable tariff because it is regulated. At the end of the day, you only pay for what you use so anything you can do to reduce your usage will automatically cheapen your bill. If you do choose the fixed for a year, you will automatically be paying more for the next 3 months or so until the next hike comes in. After that you might be better on a fixed but you might not.
22nd Jun
Oh dear, I got a feeling you might be shocked when the variable goes up also according to your figures the variable is dearer surely it should say gas £0.0732?
22nd Jun
It's worth noting that if you have ancient appliances it's worth upgrading them to the new energy ratings efficient ones.

They pay for themselves quite quickly with reduced electricity costs etc.

I stopped using the tumble dryer and got a new direct drive washing machine and since ended a fixed tariff and the energy prices in March my usage has only gone up by £10 a month. Mostly down to hardly using the tumble drier I guess so I will get a heat pump one soon me thinks ready to help dry the clothes on winter.
22nd Jun
Fixed rate deals are generally only worth it if they're only 35% more expensive according to Martin Lewis.
Author
22nd Jun
Thanks guys for the input and putting it in clear English.
It seems the best option is variable tariff right now.
22nd Jun
Obviously but I do worry about some people's thought process
22nd Jun
According to MSE V14 Fixed should still be available for existing customers. This is 30% more than current cap but crucially still 21% down on the predictions for October.
21 h, 33 m ago
Are there still tarrifs out there with lower prices for night time usage? I'm in no rush to change provider but last time I used the comparison sites I couldn't find anything like that
21 h, 25 m ago
Octopus Go
Author
21 h, 23 m ago
My Eon Next Flex tariff is showing

Electricity

Daily standing charge 44.84pUnit rate

32.55p per kWh (Day)

17.18p per kWh (Night)

Assumed annual usage 3,476kWh
Estimated annual cost £1,144.30

Gas

Daily standing charge 27.22p
Unit rate 7.28p per kWh
Assumed annual usage 18,626kWh
Estimated annual cost£1,455.65

This is the one they are offering me , to start from July (edited)
8 h, 34 m ago
If a recession does happen, gas prices may tumble. This may not affect the October increase but will certainly impact the next one in January. Oil prices are already coming down. (edited)
8 h, 0 m ago
You mean April?