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Oct 28, 2024

EON SEG Tariff Rates (October 2024)

By Robert Wheeler

So, you’ve taken the plunge and invested in solar panels. That’s fantastic! You’re not only helping the planet but also potentially saving money on your energy bills. But how much can you actually earn from the excess electricity your panels generate and feed back into the National Grid? That’s where the Smart Export Guarantee (SEG) scheme comes in, and EON Next has some interesting SEG tariffs for its customers.

Understanding the Smart Export Guarantee (SEG) Scheme

The SEG is a UK government scheme launched in 2019 that ensures you get paid for the electricity your solar panels generate but don’t use. This replaced the Feed-in Tariff (FIT) scheme, which closed to new applicants in 2019.

While the FIT scheme offered a fixed payment for every kWh of electricity exported to the National Grid, the SEG allows energy suppliers more flexibility in the SEG tariffs they offer. This can be good news for homeowners, as some energy suppliers are now offering more competitive rates than the FIT scheme ever did.

Here’s a table summarizing the key differences between the SEG and FIT schemes

Key FeaturesSmart Export Guarantee (SEG)Feed-in-Tariff (FiT)
Launch date1st July 20192010 (closed to new applicants in 2019)
Payment schemeVariable rates offered by different suppliersFixed rate per kWh of electricity exported
Export meter requirementYesYes
Key differences between the Smart Export Guarantee (SEG) and Feed-in-Tariff (FIT) schemes

EON Next SEG Tariff Rates: A Tiered System

EON Next has introduced a tiered system for SEG payments, meaning the amount you get paid for your exported electricity will depend on the tariff you choose. They offer four different rates, ranging from a basic 3p per kWh to a premium plus 40p per kWh.

EON SEG Tariffs/SEG Export Rates in October 2024

#UK Energy CompanySEG Tariff NameWho Can Access This SEG Tariff/SEG Export RateSEG Rate per kWh 
1E.ON NextNext Export Premium v2E.ON Next customers who had solar panels installed by the E.ON Solar & Storage team. You will receive the SEG rate based upon the original solar & storage quotation you have signed until the fixed term ends.21p(a)
2E.ON NextNext Export ExclusiveE.ON Next customers or customers who bought their solar installation from the E.ON Solar and Storage team, but do not have their electricity supplied by E.ON Next.16.5p(b)
3E.ON NextNext Export ExclusiveE.ON Next customers, or non-customers who’s solar panels were installed by E.ON Next. 16.5p(b)
4E.ON NextNext ExportNon E.ON Next customers or E.ON Next customers who had solar installed by E.ON Solar and Storage team on a grant.3p(b)
EON SEG Tariffs / SEG Rates correct on 28 October 2024. (a) Rate fixed for 24 months. (b) Rate fixed for 12 months.

As you can see, there’s a significant difference between the premium rates and the basic rate. However, it’s important to note that qualifying for the higher rates often comes with conditions like having EON installing your solar panels and battery.

EON Next SEG Tariffs vs. Other Suppliers

While EON Next offers some competitive rates, it’s important to remember that they’re not the only player in the SEG market. Other energy suppliers are also offering attractive tariffs, with some even exceeding the 21p per kWh rate offered by EON Next’s Export Premium v2 SEG rate.

For instance, Octopus Energy has been making waves with its time-of-use SEG tariffs. These SEG tariffs pay you more for exporting electricity during peak hours when demand is high. This can be a great option if you can shift your electricity consumption to these times, perhaps by running appliances like washing machines and dishwashers outside of peak hours.

Here’s a comparison table summarizing the SEG tariffs offered by EON Next & Octopus Energy

#UK Energy CompanySEG Tariff NameWho Can Access This SEG Tariff/SEG Export RateSEG Rate per kWh 
1Octopus EnergyIntelligent Octopus FluxOctopus customers who have solar panels and a GivEnergy battery. 29.4p(c)
2Octopus EnergyOctopus FluxOctopus Energy customers who have solar panels and a battery.25.9p(d)
3E.ON NextNext Export Premium v2E.ON Next customers who had solar panels installed by the E.ON Solar and Storage team. You will receive the SEG rate based upon the original solar and storage quotation you have signed until the fixed term ends.21p(a)
4E.ON NextNext Export ExclusiveE.ON Next customers or customers who bought their solar installation from the E.ON Solar and Storage team, but do not have their electricity supplied by E.ON Next.16.5p(b)
5E.ON NextNext Export ExclusiveE.ON Next customers, or non-customers who’s solar panels were installed by E.ON Next. 16.5p
6Octopus EnergyFixed Outgoing OctopusOctopus customers.(f) Compatible with Octopus Intelligent Octopus Go tariff on import. 15p
7Octopus EnergyOutgoing LiteOctopus customers who have an EV and only compatible with the Octopus Go tariff for EVs.8p
8Octopus EnergySEG TariffEveryone. 4.1p
9E.ON NextNext ExportNon E.ON Next customers or E.ON Next customers who had solar installed by E.ON Solar and Storage team on a grant.3p(b)
SEG Tariffs / SEG Rates correct on 28 October 2024. (a) Rate fixed for 24 months. (b) Rate fixed for 12 months. (c) Time-of-use tariff, approx. 29.4p average. Peak rates 4-7pm. (d) Time-of-use tariff, approx. 25.9p average. Peak rates 4-7pm; low rates 2-5am. (e) Fixed for 12 months; thereafter So Export Flex rate, 4.5p/kWh. (f) Only Octopus Energy customers (not white labels) can benefit from its Fixed Outgoing Octopus 15p/kWh rate. White labels include Affect Energy, M&S Energy, London Power and Co-op Energy.

Maximising Your Solar Panel Investment with NXTGEN Energy Ltd

If you’re keen to maximise your return on your solar panel investment, you might want to consider teaming up with a specialist solar panel installer like NXTGEN Energy Ltd. They can help you design and install a solar panel system that perfectly suits your home’s energy needs and ensure you’re getting the most out of your solar panels.

NXTGEN Energy can also guide you through the SEG scheme process and help you choose the right energy supplier to get the best possible SEG payments for your electricity exported to the National Grid.

Conclusion: Making the Most of Your Solar Power

While EON Next has certainly made strides in the SEG market with their tiered system, it’s always essential to do your research and compare offers from different energy suppliers before making a decision. After all navigating the world of SEG Tariff rates can be overwhelming. Remember, the goal is to generate a decent return on your solar investment while contributing to a greener future.

So, are you ready to take the plunge and embrace solar power?

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