In a significant move for the UK energy market, major supplier E.ON Next has launched what is now Britain's cheapest two-year fixed tariff, providing households with a valuable opportunity to secure rates below the current price cap. This development offers much-needed financial stability for consumers seeking to shield themselves from potential future volatility in energy costs.
A Substantial Price Reduction
The newly repriced offering, known as the Next Fixed 24-month v40 tariff, has been set at £1,658 for a typical dual-fuel household. This figure represents a notable £50 reduction from the product's previous price of £1,708, making it an increasingly attractive option for budget-conscious consumers.
Savings Compared to the Price Cap
Customers who opt for this plan can expect to save an average of £100 when compared to the current Ofgem price cap, which is fixed at £1,758 for households with typical usage until the end of March. This positions the E.ON Next deal as the most affordable 24-month fixed energy product currently available on the British market, presenting a rare chance for long-term price certainty at a time when many variable rates remain considerably higher.
Understanding the Tariff Details
The tariff is calculated based on Ofgem's standard medium-use definitions, which assume annual consumption of 2,700kWh for electricity and 11,500kWh for gas. It is important to note that actual savings for individual households will vary depending on their specific real-world energy consumption patterns and usage levels.
Important Contract Considerations
Households should be aware that a £50 exit fee per fuel applies if a customer decides to leave the contract before the 24-month term concludes. This means a total charge of £100 would be incurred for those switching both gas and electricity supplies away early, a factor worth considering when evaluating the deal's overall value.
How to Access the New Rates
Interested households can find further details and apply for the new rates directly through E.ON Next's official website. The supplier has confirmed that these prices were correct at the time of issue but remain subject to standard terms and conditions, so consumers are advised to verify the latest information before making any commitment.
This strategic pricing move by E.ON Next comes at a crucial time for many UK households facing ongoing cost-of-living pressures, offering a tangible opportunity to reduce energy expenditure while securing predictable billing for the next two years.
