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E.ON Commits To Replace Standard Variable Tariffs

Energy supplier E.ON has pledged to replace all standard variable tariffs with fixed term contracts for those customers who opt to have smart meters installed. The new tariffs will come with a fixed price for one year so people can enjoy greater security and there will be no exit fee.

From early next year, the company’s standard variable tariffs will no longer be the default option for existing tariffs coming to an end. There will be the option to roll over onto the latest version of a fixed term tariff, instead.

Those who don’t have a smart meter or people who have arranged to have one installed will move to a new fixed term tariff. If they don’t want this, they can opt out and stay on an evergreen variable tariff.

“For us, smart meters are a key means to achieve this move because they represent a natural opportunity for engagement with our customers and the new technology opens up a world of more accurate billing and greater choice. We’ll be ramping up our activity next year so we’re able to start taking thousands of people off standard variable tariff each week – added to which, their smart future will begin with a price drop,” chief executive of the supplier Michael Lewis explained.

National energy officer with UNISON Matt Lay commented on the development, saying it’s welcome news for both customers and employees of E.ON alike. It should lead to cheaper bills and ensure greater stability for those working for the company – at a time of upheaval in the energy market.

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