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Can I get 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 Neom Utilities, 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 Energy deal by comparing and switching.
Compare Energy & Switch in 3 Easy Steps
At Neom Utilities, 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 Neom Utilities.
Compare Gas and Electricity Tariffs with Neom Utilities
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.
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 Neom Utilities, 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 Neom Utilities
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!