Every UK Heat Pump Tariff Compared (Visual Table)

Choosing the right electricity tariff is one of the most impactful decisions a heat pump owner can make. The difference between a standard tariff and the best heat pump tariff can be £300-£500 per year — turning a heat pump from "roughly equal to gas" into "clearly cheaper than gas." Yet many heat pump owners stay on standard tariffs simply because they do not know the alternatives exist.

This guide compares every UK heat pump and time-of-use electricity tariff available in 2026, with rates, features, requirements, and real-world savings calculations. We update this comparison regularly as new tariffs launch and rates change.

The Full Tariff Comparison Table

*Annual heating electricity cost based on 4,000 kWh consumption (12,000 kWh heat at COP 3.0). Assumes 60% of usage during off-peak hours. Rates as of March 2026 — check supplier websites for current rates. Tariff availability varies by region.

Octopus Cosy: The Heat Pump Specialist

Octopus Cosy is specifically designed for heat pump owners. It offers discounted rates during the periods when most heating runs — early morning and late afternoon. The key advantage is that it does not require you to shift all your heating to antisocial hours; it simply gives you cheaper rates during normal heating patterns.

Best for: Heat pump owners who want easy savings without complex scheduling. Set your heat pump timer to align with cheap periods and save 30-40% automatically.

Requirements: Smart meter (SMETS2), heat pump installation.

Octopus Go: Overnight Heating Champion

Octopus Go offers extremely low overnight rates (as low as 9p/kWh) during a 4-hour window. Originally designed for EV owners, it works brilliantly with heat pumps that have hot water cylinders — you can heat your cylinder overnight at rock-bottom rates and pre-warm the house before morning.

Best for: Homes with good insulation that hold warmth, and those with large hot water cylinders that can be heated overnight.

Octopus Agile: For the Adventurous

Agile offers half-hourly variable pricing that tracks wholesale costs. Rates can drop to zero or even go negative (you are paid to use electricity) during windy, sunny periods. They can also spike during peak demand. Best suited to tech-savvy users who can automate their heat pump around price signals.

Best for: Users with home automation, battery storage, or who enjoy optimising energy usage. Combined with solar panels and a battery, Agile can deliver the lowest possible heating costs.

Economy 7 and Economy 10

These legacy tariffs offer 7 or 10 hours of cheaper overnight electricity. They predate smart meters and were designed for storage heaters. They can work for heat pumps but are generally less competitive than newer smart tariffs like Octopus Cosy or Go.

Verdict: Better than standard tariff but worse than modern smart tariffs. If you are on Economy 7, switching to Octopus Cosy or Go could save a further £100-£200 per year.

Other Supplier Options

EDF, OVO, and British Gas have all launched heat pump or EV-compatible tariffs with off-peak rates. These are generally competitive with Octopus but may have different off-peak windows or additional requirements. Check each supplier's current offerings as the market evolves rapidly.

Real Savings Calculations

Here is what the tariff choice means in real money for a typical home using 4,000 kWh of electricity for heating per year:

Based on 4,000 kWh annual heating electricity, 60% off-peak usage assumed. A typical gas boiler costs approximately £1,100/yr for comparison.

The best tariff saves approximately £480/year versus standard rates — and £600/year versus gas. Over 20 years, that is £9,600-£12,000 in additional savings from simply choosing the right tariff.

Smart Meter Requirements

Most time-of-use tariffs require a SMETS2 smart meter. If you do not have one, your energy supplier will install one for free. The installation takes 30-60 minutes with no disruption. There is no reason not to get one — it enables better tariffs and provides real-time energy usage data that helps you optimise your heat pump operation.

Combining Heat Pump Tariffs with Solar

The ultimate combination for minimum heating costs is a heat pump, a time-of-use tariff, and solar panels. During daylight hours, your solar panels generate free electricity for your heat pump. During evening and overnight hours, your smart tariff provides electricity at the cheapest possible rate. The result: annual heating costs as low as £300-£500 — roughly a quarter of what gas costs.

Frequently Asked Questions

What is the cheapest tariff?

Octopus Go (from 9p/kWh overnight) and Octopus Agile (variable, can hit 0p) offer the lowest rates. Cosy is the easiest to use with standard heating patterns.

Do I need a special tariff?

No, but you are leaving 30-50% savings on the table by staying on standard rates. Switching costs nothing and takes minutes.

What is Octopus Cosy?

A heat pump-specific tariff with lower rates during morning and afternoon heating periods. Saves 30-40% vs standard with minimal effort.

Do I need a smart meter?

Yes for most smart tariffs. Your supplier installs one free. Takes 30-60 minutes, no disruption.

Can I combine with solar?

Yes — the ultimate combination. Solar provides free daytime electricity; smart tariffs provide cheap overnight electricity. Annual costs can drop to £300-£500.

How much can I save?

30-50% on heating electricity vs standard tariff. That is £300-£480 per year, or £6,000-£9,600 over 20 years.