E.ON Next customers enrolled in its pioneering Pledge tariff are on track to save more than £17 million, collectively, over the course of their fixed tariff, thanks to a guarantee their prices will always remain £50 ^{below the energy price cap*.}

Energy regulator Ofgem announces the latest change to its price cap on Friday, May 24, and with analysts predicting a reduction of about £116**, customers signing up to the E.ON Next Pledge tariff now could see a further reduction of £50 on their average energy bills.

Since its launch in August 2023, almost 350,000 customers have signed up to the E.ON Next Pledge tariff, currently the only one-year fixed-term tariff on the market guaranteed to stay as much as £50 below the industry-wide price cap.

Over the course of the year, those customers are collectively expected to save around £17 million compared to the price cap, having already saved as much as £10 million since the tariff was launched***.

Taking action to make energy more affordable

Julian Lennertz, chief commercial officer at E.ON Next, said: “It’s of course great news that the price cap is to fall but, on top of that, I’m really proud we’re able to deliver for our customers even more by living up to our reputation of being a ‘playmaker’ – meaning we’re taking action to make energy more affordable.

“There are hundreds of thousands of customers benefiting from our E.ON Next Pledge tariff and we all hope that number grows further so that even more people can benefit from the potential savings on offer.”

Next Pledge is a 12-month fixed-term tariff which tracks the price cap and guarantees to always remain £50 below the cap*.

Prices change each quarter in line with the price cap, which means if the cap continues to fall, as predicted for April and again in July, so will Pledge. The tariff is available to both new and existing customers.

Find out more

For further information and to browse electricity and gas tariffs, see www.eonnext.com/tariffs

Terms and Conditions:

*The tariff will remain £50 below the cap at Ofgem average annual dual fuel consumption of 11,500 kWh for gas and 2,700 kWh for electricity.

**Typical energy bill set to fall by £116 in July, latest Cornwall Insight forecast predicts | This is Money.

***Based on Next Pledge customer's consumption. Next Pledge is currently priced at £1,640 and will fall to £50 below the new cap level (as announced by Ofgem) on July 1. The price is based on average annual use and will differ according to consumption. Customers need to pay by Direct Debit and agree to have a smart meter installed where eligible.