Compare Energy Prices
Within just 30 seconds you can compare the latest energy prices and find the cheapest quote from our panel of trusted suppliers.
Can I Compare Energy Deals in 2024?
During the energy crisis, customers had very few options to switch as suppliers were unable to offer fixed price tariffs below the energy price cap.
In 2024, there are more options available when you compare energy prices. Suppliers are beginning to offer energy tariffs which fall below the price cap level. However, many of these tariffs are aimed at existing customers.
With Love Energy Savings, you can find the latest available tariffs from our panel of trusted energy suppliers. Our simple energy comparison service allows you to view up-to-date energy prices in as little as 30 seconds.
If you are a business customer, then you can still get a cheaper business energy deal by comparing and switching.
Compare Energy & Switch in 3 Easy Steps
At Love Energy Savings, we aim to make the energy comparison process as simple as possible. You can complete your switch in 3 easy steps:
What Are the Latest Gas and Electricity Prices?
In recent years, we’ve regularly seen energy prices in the news. Costs increased quickly during the energy crisis making it difficult to compare energy prices and find a cheaper deal.
As wholesale prices have fallen since the peak of the energy crisis, household bills have also reduced. Although your exact costs will vary from household to household, the energy price cap offers a good guide.
From the 1st October 2024, Ofgem’s energy price cap will be set at £1,717. This is the average yearly bill for a typical UK household. If you’re a high energy user, it’s likely your annual bill will be higher than the quoted price cap.
The price cap does set a limit on the unit rate your supplier can charge. From the 1st October this will be set at:
- 24.50 pence per kWh for electricity
- 6.24 pence per kWh for gas
How Does Ofgem Set The Price Cap?
Your domestic energy bill is determined by your energy supplier, influenced by Ofgem’s Energy Price Cap. It should consider everything an energy supplier needs to cover costs and manage revenue.
The chart shows how Ofgem determines the price cap with each cost distributed, and why your energy bills can fluctuate throughout the year. This breakdown shows the costs included in the current Ofgem tariff price cap for a dual-fuel, direct debit customer with typical energy consumption.
This is how Ofgem sets its price cap and how the various factors affecting each region, payment type, and meter type differ. Energy suppliers can charge less than the set price cap, but not over.
Know exactly what you’re paying for on your home energy bills. We aim to help our customers understand exactly what they are spending their money on, and how they can identify opportunities for great savings with Love Energy Savings.
Compare Gas and Electricity Tariffs with Love Energy Savings
When you start your energy comparison, you will be provided with a range of tariff options to choose from.
Your energy tariff is simply how your supplier charges you for the gas and electricity you use. With so many tariffs to choose from, it can be difficult to know which one will best suit your needs.
Here, you can compare energy tariffs to help you find the right gas and electricity deal for you.
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Fixed Price Energy Tariffs
With fixed price energy tariffs (or fixed rate tariffs), the cost of your energy will remain the same throughout your contract – usually between 12 months and 3 years.
Benefits of a fixed rate energy tariff
- Your payments will not change (depending on your usage)
- Your bills will be predictable
- Your bills will not be impacted by energy market price fluctuations
- If you find a tariff you like, you can usually fix your rates for up to 3 years
Who is a fixed rate tariff best suited to?
You should bear in mind that although your unit rate is fixed, this doesn’t mean your bills will remain the same each month. The monthly cost of your energy bills will still be dependent on how much gas and electricity you use.
As the rate you pay per unit of gas and electricity is locked for the length of your contract, you will be protected from any price rises. However, if the price of energy falls you won’t benefit from a cut in your unit rate costs.
As the energy market opens up, more suppliers are offering fixed rate energy tariffs below the cost of the price cap.
Fixed-rate tariffs are best suited to households that have a reasonably consistent rate of energy use and where it is preferred to have a set payment each month. As these tariffs are fixed for a certain period, you should ensure that you are comfortable with entering a contract for the set term.
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Variable Rate Tariffs
If you choose a variable rate tariff, your unit rate can rise and fall throughout your contract. This will impact your monthly payments and you could therefore end up paying different unit rates each month.
Benefits of a Variable Rate Energy Tariff
- You could benefit from lower rates if market prices reduce
- No exit fees - you are free to switch suppliers or tariffs as you please
Who is a Variable Rate Tariff Best Suited To?
The unit rate you pay will be dependent on the energy markets. This means that if the price of energy falls, you will also benefit from a reduction in your unit rate. However, any increases in the price of energy will also see your energy bills increase.
If you’re comfortable with the prospect of your energy unit costs changing throughout your contract, a variable tariff can be a good option. However, if it’s important to budget for your energy costs, a fixed price tariff can offer you more security.
More customers have stayed on variable rate tariffs when fixed rates were more expensive than the price cap.
A variable rate tariff can be suitable for you if you are comfortable with the risk of market price fluctuations impacting your energy bills.
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Dual Fuel Energy Tariffs
A dual fuel tariff simply allows you to switch both your gas and electricity to the same supplier. This can make managing your energy bills easier as you don’t have to deal with two separate accounts or companies.
Benefits of Dual Fuel Energy Tariffs
- Dual fuel discounts - Some suppliers will offer a discount to customers switching to a dual fuel tariff
- Makes managing your gas and electricity accounts easier
Who is a Dual Fuel Tariff Best Suited To?
When comparing energy prices for this type of tariff, you should look out for suppliers that offer dual fuel discounts. Don’t be afraid to ask if the discounts aren’t highlighted.
Additionally, rectifying issues (with meters, usage, or billing) can be easier when you’re on a dual fuel tariff as you will only have to deal with one energy supplier.
Dual fuel tariffs are best suited to occupants who prefer to have all their energy deals in one place for added convenience.
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Prepayment Energy Tariffs
With a prepayment energy tariff, your gas and electricity will operate on a ‘pay as you go’ system.
You will top up your prepayment meter using tokens or a ‘key’. The most common way to do this has been to take the token, key or smartcard to a newsagent to be topped up. In recent years, more suppliers have introduced top-ups online via a website or app.
Benefits of a Prepayment Energy Tariff
- You can control how much you spend on energy
- For landlords, this tariff can help to ensure that tenants keep up with their bills
- Deals are becoming more competitive
Who is a Prepayment Tariff Best Suited To?
Prepayment tariffs are often a more expensive option than monthly billing and will require more monitoring to ensure you remain in credit. If you run out of credit, your electricity supply may be cut off; although some homes have access to emergency credit.
There also tend to be fewer tariffs available for prepayment meters. As a result, you may not have access to the best deals.
Prepayment meter tariffs are best suited to those who want to have more control over what they spend on their energy. Although, it can be said that a more effective way of doing this is to request a smart meter to monitor your energy usage.
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Economy 7 & Economy 10 Electricity Tariffs
Sometimes referred to as time of use tariffs, Economy 7 and Economy 10 plans offer cheaper electricity during certain hours of the day.
What is an Economy 7 Tariff?
An economy 7 tariff offers cheaper electricity unit rates for 7 off-peak hours each day. These hours will vary depending on your supplier.
What is an Economy 10 Tariff?
As the name suggests, an economy 10 tariff offers lower electricity unit rates for 10 off-peak hours every day. This will usually be 7 hours at night and 3 hours during the day.
What Are the Benefits of Economy 7 & Economy 10 Tariffs?
- You can make the most of cheaper energy rates at certain times of the day. For example, storage heaters can use energy during the night to provide heat in the day.
- These can be the best options if most of your electricity use takes place during the night.
Who is an Economy 7 & Economy 10 Tariff Best Suited To?
If you use most of your electricity during off-peak hours, a time of use tariff could help you reduce your energy bills. However, you should bear in mind that the electricity you use during peak hours will likely be charged at a higher rate than other tariffs.
Economy 7 and Economy 10 meters can be effective in homes that need higher energy usage in off-peak hours. For example, those with storage heaters or electric vehicles which are charged overnight.
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Green Energy Tariffs
When you switch to a green energy tariff, your supplier will promise to match all or some of your energy usage with energy generated from renewable sources including wind, hydro, solar, and geothermal energy.
This renewable energy is fed back into the National Grid, so as more people switch to green energy tariffs, a higher percentage of the national supply will be from renewable sources.
Benefits of Green Energy Tariffs
One of the main benefits of a green energy tariff is reducing our impact on the environment. A renewable energy tariff allows us to lower our carbon footprint. As renewable energy tariff costs move closer to standard tariffs, it’s less likely that you will have to pay a premium to do so.
Who is a Green Energy Tariff Best Suited To?
Green energy tariffs have built a reputation for being expensive, however, this is not always the case. Following a drop in the cost of producing renewable energy, green tariffs are now some of the most affordable options on the market.
Green energy tariffs are suitable for everyone, especially those who are environmentally conscious and want to help combat climate change.
With Love Energy Savings, you can easily compare the latest green energy tariffs online from a wide range of trusted suppliers.
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No Standing Charge Tariff
Your standing charge is a daily fee added to your energy bill which remains the same no matter how much energy you use. The fee covers the cost of your energy supplier delivering gas and electricity to your property.
With a no standing charge tariff, this daily fee will be set to zero. This means that if you don't use any gas or electricity that day, you'll face no charges from your energy supplier.
Benefits of a No Standing Charge Tariff
One of the main benefits of a no standing charge tariff is that you will only pay for the gas and electricity you use.
If you have low energy usage or you use energy infrequently, you could save money with a no standing charge tariff.
This tariff can be especially useful for holiday homes or properties which are not in use all year round.
Who is a No Standing Charge Tariff Best Suited To?
No standing charge tariffs can include higher unit rates than a standard fixed tariff. So, if you use a lot of gas and electricity, you may not see the benefit of avoiding standing charges.
Before switching to a no standing charge tariff it's important to consider how you use energy. With Love Energy Savings, you can view the full estimated cost of your energy bills on a new tariff based on your current usage.
A no standing charge tariff is best suited to those with lower energy usage and those who don't want to receive charges when they are not using gas and electricity.
Why Switch Gas and Electricity Tariff?
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 Love Energy Savings, 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 costs.
Start Your Energy Comparison with Love Energy Savings
Over the years, we have built strong relationships with the UK’s energy suppliers. This allows us to take your current gas and electric consumption and compare it with a huge range of providers. You can compare energy tariffs from the ‘big six’ down to the more specialist energy companies.
Our innovative energy comparison engine allows you to view the latest prices in as little as 30 seconds. All we need to get started is your postcode. Our technology can then get to work scouring the energy suppliers for the best deals available.
Once you’ve chosen the right tariff for you, we’ll take care of the rest. You can even complete your entire switch online!
Energy Comparison FAQs
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What Information Do I Need for My Energy Comparison?
The nature of our service is based on an ethos of speed and transparency. We can get your energy quote in as little as 30 seconds and don't ask you for reams of personal information.
Just give us your postcode, the name of your current energy supplier, roughly what you are spending, and we will do the rest for you.
No gimmicks and no annoying phone calls or jargon-filled emails. Just quick and efficient energy quotes from the UK’s most trusted energy comparison site.
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How Does The Switching Process Work?
Once you’ve chosen your selected and the transfer process has been completed and confirmed, the next steps are very straightforward:
- We will send you an email detailing the energy transfer you have arranged.
- We will let your old supplier know what is happening, which will speed the process up significantly.
- Your new energy supplier will then be informed that you will be using them for your energy supply, they will then send you a welcome pack.
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How Long Does It Take to Switch Energy Tariffs?
When you switch energy suppliers, you will be protected by the Energy Switch Guarantee. This is a set of targets and standards which suppliers commit to delivering when you switch.
Under the Energy Switch Guarantee, your supplier is expected to complete your switch within 5 working days.
You will also have the option to change your mind within 14 days of completing your energy comparison. Any credit you are due should also be refunded within 14 days of your final bill.
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Do I Need to Pay An Exit Fee When I Switch Energy?
This will depend on the type of tariff you are on. Most fixed rate tariffs will include an exit fee. The cost of your exit fee will vary from supplier to supplier.
If you still want to compare energy prices, it’s important to include any potential exit fee in the overall cost of your annual energy bill.
When you switch with the Love Energy Savings energy comparison service, we’ll let you know when you enter your renewal window. This means you can avoid out of contract rates and switch to the best deal for you without the need to pay any exit fees.
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Can I Compare Energy If I’m Renting?
In most cases, you can compare energy prices and switch if you’re renting. Tenants who are named on the account will have the right to manage their energy bills.
However, if your rent agreement includes all-inclusive bills, your landlord will manage your energy costs. In this case, you can ask your supplier to switch energy suppliers but they are not required to do so.