E.ON has pulled the plug on Fix Online Version 8

E.ON has pulled the plug on Fix Online Version 8

You may have noticed (or maybe not, depending much attention you pay to energy tariffs) that a competitive fixed rate energy tariff from E.ON has disappeared from the market.

You will not find it on comparison sites anymore, nor will you find it on the E.ON website.  Fix Online Version 8 is no more, instead we now have Save Online Version 2.

What’s the difference and what’s the big deal I hear you ask?

The main point (other than the fact that they are priced differently) is that with the old product, the price of your gas and electricity was fixed for around a year, while with the new entrant, prices are variable. This means that you may be impacted by the peaks and troughs of the volatile wholesale energy market (although E.ON will smooth some of it out for you).

Over the last couple of months the wholesale costs of both natural gas and electricity have crept up. Now, these are not spiralling out of control by any means, but, paired with fixed tariff deals disappearing, you would be forgiven for thinking that energy prices are heading in only one direction – up.

Another equally telling sign is that recently, I was talking to a senior member of an energy company, who said that he personally plans to tie himself in to a  long-term fixed price deal, even if it means that his energy will cost him more in the short term. Ignoring all the other signs, this alone speaks volumes about what sort of changes we can expect to see in energy prices.

Don’t hit the panic button just yet, but keep an eye out and don’t say that you weren’t warned that prices rises were a possibility!