While the former will cost 3 times less:
The latter will cost more:
Are both almost the same or the latter is better (which i suppose is judging by price)?
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it depends on what you are using it for. Surge protectors simply protect from power surges. Power cleaners and UPS's offer more features such as electrical noise cleaning, protection from a dip in current, etc.
If you are not experiencing any issues with your hardware due to electrical inconsistencies, than a simple surge protector is all you need.