E.ON Next's prices haven't risen in 2023 so far - they've gone down.
Like most energy suppliers in the UK, E.ON Next's energy prices are subject to Ofgem's energy price cap. The cap sets the maximum price suppliers can charge for average usage on their standard variable tariffs. These are typically the most expensive type of energy plan.
Energy wholesale prices increased a great deal from the autumn of 2021 due to a combination of factors, such as supply and generation issues. Energy suppliers were having to pay much more for energy than previously, so the energy price cap level (which caps the unit rates customers pay) eventually reached £3,549 - and because most customers by then had rolled off fixed deals without having anything to switch to other than the standard tariff, this would have affected over 25 million households.
The government therefore introduced the Energy Price Guarantee, which capped prices at the equivalent of £2,500 for an average use household. Now, though, the price cap has been set at £2,074, so the Energy Price Guarantee will move back (while still running in the background at a higher level of £3,000) and the price cap will set the unit rates of standard variable tariffs again.
The table below shows how the price cap and Energy Price Guarantee have defined E.ON Next's standard variable tariff prices over the years.
|Time period||Price cap level||Energy Price Guarantee level||E.ON Next standard variable price|
|April 2019 - October 2019||£1,254||N/A||£1,254|
|October 2019 - April 2020||£1,179||N/A||£1,177|
|April 2020 - October 2020||£1,162||N/A||£1,162|
|October 2020 - April 2021||£1,042||N/A||£1,042|
|April 2021 - October 2021||£1,138||N/A||£1,138|
|October 2021 - April 2022||£1,277||N/A||£1,277|
|April 2022 - October 2022||£1,971||N/A||£1,971|
|October 2022 - January 2023||£3,549||£2,500||N/A (SVT capped at £2,500 under EPG)|
|January 2023 - April 2023||£4,279||£2,500||N/A (SVT capped at £2,500 under EPG)|
|April 2023 - July 2023||£3,280||£2,500||N/A (SVT capped at £2,500 under EPG)|
|July 2023 - October 2023||£2,074||£3,000||TBC|
Highlighted rows denote the periods where the Energy Price Guarantee was subsidising customers' energy bills.
If you have a fixed energy deal from E.ON Next or any other energy supplier, the price you pay per unit of energy will remain fixed until the plan ends. Once it ends your supplier will automatically place you onto its standard variable tariff if you don't (or can't) switch to another fixed deal.
All customers on a standard variable tariff from E.ON Next are affected by price rises. Due to the energy market situation, this will be the vast majority of people.
If you're on a fixed plan from E.ON, your rates will stay the same for the remainder of the contract. But remember that you'll automatically be rolled onto a standard variable tariff when your fixed deal ends, which will mean an increase to your energy bills.
You can read about previous price changes from other suppliers below:
The energy price cap is reviewed four times per year, so there's time for prices to go up again. While the level of the cap will drop from July 2023, it's currently predicted to rise again slightly in the autumn and winter, but nowhere near the levels we've seen over the past few months.
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