Switched to E.on's decent one-year fixed deal last February? It’s ending soon – here's what you should do next
Last February, we told you about a decent one-year fixed deal from E.on for existing customers that many took advantage of - and would have saved a significant sum as energy bills soared. That tariff is now coming to end, and with the energy market still in crisis, we take a look at your options.
The tariff was the E.on ‘Next Online v11’, a one-year fixed deal priced at £1,971 a year for a typical household. This was actually 54% more expensive than the energy price cap in February 2022 and the provider’s standard tariff - BUT it was the same price as April 2022’s price cap, which had just been announced.
Further hikes to energy bills were predicted throughout 2022, and as we know now, energy prices rose again in October – to £2,500 a year following Government intervention and the introduction of the energy price guarantee.
So looking over the life of the 12-month fix it was a good deal – as Martin explained at the time:
The tariff is ending soon – what can you do?
The tariff was available at the end of February last year, and was fixed for 12 months from the day you switched to it, so if you’re on it, it’ll likely be ending in the next few weeks.
When the deal ends, you’ll be automatically rolled on to E.on Next's standard variable tariff, which follows the Government’s energy price guarantee (EPG) rates. For a typical user, it’s currently £2,500 a year – a 27% increase on average on the Next Online v11 tariff, or a typical £529 rise over the year.
The EPG is also expected to rise by 20% in April, to £3,000 a year for a typical household – though last week Martin called on Government to postpone the EPG hike. And with the £400 Government energy support being removed at the same time, it’ll feel a bigger jump.
Unfortunately, the market is still in crisis, with no fixed deals cheaper than the Government’s energy price guarantee (EPG) rate to switch to, so there’s little you can do to avoid the increase. Yet there are areas to focus on...
- Check you're paying the right amount. When your tariff ends, and you’re moved to E.on’s standard tariff, make sure you’re paying the right amount. You can use our 'Direct debit too high?' calculator to check.
- Want to switch for better service? Most firms are accepting new customers online on their standard tariffs again – you won't save any money, but if you're really fed up, see which firms did best for service in our recent customer service survey.
- Try to cut your energy usage. There are lots of ways to easily reduce what you use. Try our new interactive energy saving tool, where you can click around a virtual house to find out how much things cost to run and how to cut back. Also, see more Energy saving tips, the Energy mythbusters guide for less clear-cut issues, and our Heat the human guide.
- Make sure you're getting all the help you're entitled to. If you're struggling, there's plenty of help out there, including Government grants and support from your provider. Check out Struggling to pay – energy help for full info.