Evaluate Energy Costs
In just 30 seconds, you can compare the latest energy prices and discover the most affordable quote from our network of trusted suppliers.
Is It Possible to Compare Energy Deals in 2024?
During the energy crisis, customers had limited options to switch suppliers, as they couldn’t offer fixed-price tariffs below the energy price cap.
In 2024, there are more choices available when comparing energy prices. Suppliers are starting to provide energy tariffs that fall below the price cap level, although many of these are targeted at existing customers.
With STS Energy, you can explore the latest available tariffs from our trusted panel. Our user-friendly energy comparison service allows you to see up-to-date energy prices in just 30 seconds.
If you’re a business customer, you can still secure a better business energy deal by comparing and switching suppliers.
Compare Energy and Switch in Three Simple Steps
At STS Energy, we strive to make the energy comparison process straightforward. You can complete your switch in just three easy steps
Compare quotes
Get a quote with no obligation - it's easy with our quick comparison engine.
Select best quote
Select the best tariff for your household’s needs from our trusted suppliers.
We’ll handle the switch
Save a up to £150 per year, or up to £450 over a three year contract*.
What Are the Current Gas and Electricity Rates?
In recent years, energy prices have frequently made headlines. During the energy crisis, costs rose rapidly, making it challenging to compare energy prices and find more affordable deals.
As wholesale prices have decreased since the peak of the energy crisis, household bills have also come down. While your specific costs may vary from one household to another, the offers provide a good benchmark.
Starting October 1, 2024, Ofgem’s energy price cap will be set at £1,717, which reflects the average annual bill for a typical UK household. If you are a high energy user, your annual bill is likely to exceed this quoted price cap.
The price cap establishes a maximum unit rate that your supplier can charge. Effective from October 1, the rates will be set at:
- 24.50 pence per kWh for electricity
- 6.24 pence per kWh for gas
How Does Ofgem Determine the Price Cap?
Your domestic energy bill is determined by your energy supplier, taking into account Ofgem’s regulations. It should encompass all the costs an energy supplier needs to cover expenses and manage revenue.
The chart illustrates how Ofgem calculates the price cap, detailing each cost component and explaining why energy bills may fluctuate throughout the year. This breakdown outlines the costs included in the current Ofgem tariff price cap for a dual-fuel customer paying by direct debit with typical energy consumption.
This is how Ofgem establishes its price cap and highlights the various factors that affect different regions, payment types, and meter types. Energy suppliers can charge less than the set price cap but cannot exceed it.
Be aware of exactly what you are paying for on your home energy bills. We aim to help our customers understand their spending and identify opportunities for significant savings with STS Energy.
Compare Gas and Electricity Tariffs with STS Energy
When you begin your energy comparison, you’ll be presented with various tariff options to select from.
Your energy tariff refers to how your supplier bills you for the gas and electricity you consume. With numerous tariffs available, it can be challenging to determine which one will best meet your needs.
Here, you can compare energy tariffs to assist you in finding the ideal gas and electricity deal for your situation.
General Knowledge Base
With fixed-price energy tariffs (also known as fixed-rate tariffs), the cost of your energy remains constant throughout your contract, which typically lasts between 12 months and 3 years.
Benefits of a Fixed-Rate Energy Tariff:
- Your payments will stay the same (depending on your usage).
- Your bills will be predictable.
- Your bills will not be affected by fluctuations in energy market prices.
- If you find a tariff you like, you can often secure your rates for up to 3 years.
Who Is Best Suited for a Fixed-Rate Tariff?
It’s important to note that while your unit rate is fixed, this does not mean your bills will remain unchanged each month. The total cost of your energy bills will still depend on your consumption of gas and electricity.
Since the rate you pay per unit of gas and electricity is locked in for the duration of your contract, you will be protected from any price increases. However, if energy prices decrease, you won't benefit from lower unit costs.
As the energy market evolves, more suppliers are offering fixed-rate energy tariffs below the price cap.
Fixed-rate tariffs are ideal for households with a relatively consistent energy usage pattern and for those who prefer a stable monthly payment. Since these tariffs are set for a specific period, it’s important to ensure you are comfortable committing to a contract for the duration specified.
The unit rate you pay will fluctuate based on energy market conditions. This means that if energy prices decline, you'll benefit from a lower unit rate. Conversely, any increases in energy prices will result in higher energy bills.
If you are okay with the possibility of your energy unit costs changing throughout your contract, a variable tariff may be a suitable choice. However, if you need to budget for your energy expenses, a fixed-price tariff may provide more stability.
Many customers have remained on variable rate tariffs, especially when fixed rates were higher than the price cap.
A variable rate tariff can be appropriate for you if you are willing to accept the risk of market price fluctuations affecting your energy bills.
Benefits of Dual Fuel Energy Tariffs
- Dual Fuel Discounts: Some suppliers provide discounts to customers who switch to a dual fuel tariff.
- Simplified Account Management: Managing your gas and electricity accounts becomes easier.
Who Is a Dual Fuel Tariff Best Suited For?
When comparing energy prices for this type of tariff, look for suppliers that offer dual fuel discounts. Don't hesitate to inquire about discounts if they aren't clearly advertised.
Additionally, resolving issues related to meters, usage, or billing can be simpler with a dual fuel tariff, as you'll only need to interact with one energy supplier.
Dual fuel tariffs are ideal for those who prefer to have all their energy services consolidated in one place for added convenience.
When comparing energy prices for prepayment tariffs, be sure to look for suppliers that provide dual fuel discounts. Don’t hesitate to inquire about these discounts if they aren’t prominently displayed.
Furthermore, resolving issues related to meters, usage, or billing can be more straightforward with a prepayment tariff, as you'll only need to interact with a single energy supplier.
Prepayment tariffs are ideal for individuals who prefer to manage all their energy arrangements in one convenient location.
Often known as time-of-use tariffs, Economy 7 and Economy 10 plans provide cheaper electricity during specific hours of the day.
What is an Economy 7 Tariff?
An Economy 7 tariff offers reduced electricity unit rates for 7 off-peak hours each day, with the specific hours determined by your supplier.
What is an Economy 10 Tariff?
As the name implies, an Economy 10 tariff provides lower electricity unit rates for 10 off-peak hours daily, typically consisting of 7 hours at night and 3 hours during the day.
What Are the Benefits of Economy 7 & Economy 10 Tariffs?
You can take advantage of lower energy rates during specific times of the day. For instance, storage heaters can consume energy overnight to provide warmth throughout the day. These tariffs are especially beneficial if your electricity usage occurs primarily during nighttime hours.
Who Are Economy 7 & Economy 10 Tariffs Best Suited For?
If you primarily use electricity during off-peak hours, a time-of-use tariff may help you save on energy costs. However, keep in mind that electricity consumed during peak hours will likely be charged at a higher rate compared to other tariffs.
Economy 7 and Economy 10 meters can be effective for households with significant energy needs during off-peak hours, such as those utilizing storage heaters or charging electric vehicles overnight.
Green energy tariffs have often been viewed as costly; however, this perception is changing. With the decline in the production costs of renewable energy, green tariffs have become some of the most competitive options available.
These tariffs are ideal for everyone, particularly for those who are environmentally conscious and wish to contribute to the fight against climate change.
At Love Energy Savings, you can conveniently compare the latest green energy tariffs online from a diverse selection of trusted suppliers.
A standing charge is a daily fee included in your energy bill that remains constant regardless of your energy usage. This fee covers the costs incurred by your energy supplier for delivering gas and electricity to your property.
With a no standing charge tariff, this daily fee is eliminated. This means that if you don't consume any gas or electricity on a given day, you won't incur any charges from your energy supplier.
Benefits of a No Standing Charge Tariff
One of the primary advantages of a no standing charge tariff is that you will only pay for the gas and electricity you actually use.
If your energy consumption is low or infrequent, you could save money with a no standing charge tariff. This type of tariff can be particularly beneficial for holiday homes or properties that are not occupied year-round.
Who Is a No Standing Charge Tariff Best Suited For?
It’s important to note that no standing charge tariffs may come with higher unit rates compared to standard fixed tariffs. Therefore, if you use a significant amount of gas and electricity, you might not see much benefit from avoiding standing charges.
Before switching to a no standing charge tariff, it’s essential to assess your energy usage. With Love Energy Savings, you can review the estimated total cost of your energy bills under a new tariff based on your current consumption.
A no standing charge tariff is ideal for those with lower energy usage or for individuals who prefer not to incur charges when they are not consuming gas and electricity.
Reasons to Change Your Gas and Electricity Tariff with STS Energy
As fewer suppliers have offered fixed rate tariffs below the energy price cap, many customers have allowed their energy contracts to rollover to out of contract rates. However, as more suppliers return with fixed rate deals, you could save money by comparing energy prices.
Making sure you’re on the right energy tariff for your needs can also help you reduce your gas and electricity costs. If you haven’t switched energy tariffs for a few years, you’ll likely be on your supplier’s standard tariff.
When you compare energy prices with STS Energy, you can view the latest tariffs available from our trusted suppliers. This means you can switch to an energy deal that suits your needs and allows you to control your gas and electricity costsAs fewer suppliers have been offering fixed-rate tariffs below the energy price cap, many customers have inadvertently allowed their energy contracts to revert to out-of-contract rates. However, with more suppliers reintroducing fixed-rate deals, you could potentially save money by comparing energy prices.
Ensuring you’re on the right energy tariff tailored to your needs can also help lower your gas and electricity expenses. If it’s been a few years since you switched energy tariffs, it’s likely that you’re on your supplier’s standard rate.
By comparing energy prices with STS Energy, you can access the latest tariffs from our trusted suppliers. This empowers you to switch to an energy deal that fits your requirements and helps you manage your gas and electricity costs effectively.
Begin your energy comparison journey with STS Energy.
Over the years, we have developed strong partnerships with the UK’s leading energy providers. This enables us to analyze your current gas and electricity consumption and compare it against a vast array of suppliers. You can explore energy tariffs ranging from the ‘big six’ to more specialized energy companies.
Our cutting-edge energy comparison tool allows you to view the latest prices in just 30 seconds. To get started, all we need is your postcode. Our technology will then search through various energy suppliers to find the best deals available.
Once you’ve selected the tariff that suits you best, we’ll handle everything else. You can even complete your entire switch online!
General FAQs
At STS Energy, we provide tailored quotes for all types of hazardous waste disposal. Given the stricter regulations surrounding the handling of unusual waste, such as electrical items and asbestos, our panel of providers is fully accredited and equipped to manage any hazardous materials safely and in compliance with the law.
Once you've made your selection and the transfer process is confirmed, the subsequent steps are simple:
- We will send you an email outlining the energy transfer you’ve arranged.
- We will notify your previous supplier about the change, which will help expedite the process.
- Your new energy supplier will be informed that you’ve chosen them for your energy needs, and they will send you a welcome pack.
When you switch energy suppliers, the Energy Switch Guarantee protects you. This guarantee consists of targets and standards that suppliers must meet during the switching process.
According to the Energy Switch Guarantee, your supplier should complete the switch within five working days.
Additionally, you have the option to reconsider your decision within 14 days of completing your energy comparison. Any credits owed to you should also be refunded within 14 days of receiving your final bill.
The type of tariff you’re on will influence your situation. Generally, fixed-rate tariffs come with an exit fee, which varies by supplier.
If you’re looking to compare energy prices, it’s crucial to factor in any potential exit fees as part of your total annual energy expenses.
At STS Energy, when you use our energy comparison service, we’ll notify you when you enter your renewal window. This way, you can steer clear of out-of-contract rates and switch to the most advantageous deal for you without incurring any exit fees.
In general, if you’re renting, you can compare energy prices and switch suppliers. Tenants listed on the account have the right to manage their energy bills.
However, if your rental agreement includes all-inclusive bills, your landlord is responsible for managing energy costs. In this scenario, you can request your landlord to switch energy suppliers, but they are not obligated to comply.