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 a well-used heat pump tariff can be a few hundred pounds a year (about £320 in our illustration below) — 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 features, cheap-rate windows, requirements and an illustrative savings calculation. Tariffs launch, close and reprice often, so treat this as a guide and check each supplier before switching. For our pick by household type, see the best electricity tariff for heat pumps.

The Full Tariff Comparison Table

Supplier rates are regional and change frequently, so we do not quote point prices for individual suppliers. Check the supplier's current rates and eligibility (last reviewed October 2026). 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 schedule to lean on the cheap windows (for example heating the hot water cylinder and pre-warming the house) and avoid the 4pm-7pm peak.

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

Octopus Go: An EV Tariff, Not a Heat Pump Tariff

Octopus Go and Intelligent Octopus Go are electric vehicle tariffs with a cheap overnight window. Eligibility usually requires an electric vehicle or a compatible charger, so they are not an option for most heat pump owners. If you do qualify, the overnight window can also be used to heat your hot water cylinder and pre-warm the house. Check the supplier's current rates and eligibility (last reviewed October 2026).

Best for: EV owners with good insulation that holds warmth, and a hot water cylinder 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, compare it with a heat pump time-of-use tariff such as Octopus Cosy using your own usage pattern.

Other Supplier Options

EDF GoElectric and British Gas Electric Driver are electric vehicle tariffs that usually require an EV or charger. OVO's Heat Pump Plus closed to new customers on 1 February 2026, and ScottishPower says its Heat Pump Saver is not currently available. Other suppliers advertise heat pump tariffs, but names, rates and eligibility change often. Check the supplier's current rates and eligibility (last reviewed October 2026).

Real Savings Calculations

Here is an illustration of what tariff choice can mean for a typical home using 4,000 kWh of electricity for heating per year (12,000 kWh of heat at COP 3.0):

Standard and gas figures use the Ofgem price cap for 1 October 2026 to 31 December 2026 (26.32p/kWh electricity, 7.97p/kWh gas), unit rates only. The time-of-use bar is an illustration, not a supplier quote: it assumes 60% of heating electricity at about half the cap rate and ignores any dearer peak period. Your result depends on your region and how you schedule your heat pump.

In this illustration, a well-used time-of-use tariff saves about £320 a year against the standard rate, and about £310 against gas for the same heat. On the standard price cap alone, a heat pump and a gas boiler cost roughly the same in unit rates.

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 can be heating costs well below gas; how far below depends on your solar output, battery and tariff.

Frequently Asked Questions

What is the cheapest tariff?

It depends on your region and usage. Octopus Cosy is designed for heat pumps and is easy to use with normal heating patterns; Agile's dynamic prices can be very low at times but also spike. Octopus Go is an EV tariff that usually needs an EV or charger. Check the supplier's current rates and eligibility (last reviewed October 2026).

Do I need a special tariff?

No, but if you can run most of your heating in cheaper windows, a time-of-use tariff can save a few hundred pounds a year. Check exit fees before switching.

What is Octopus Cosy?

A heat pump tariff from Octopus with three cheaper windows a day (about half your regional day rate, per Octopus) and a dearer 4pm-7pm peak.

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; time-of-use tariffs provide cheaper grid electricity at set times. Together they can cut heating costs well below gas.

How much can I save?

It depends on your region and schedule. In our illustration (60% of 4,000 kWh at about half the cap rate) the saving is about £320 a year. Check the supplier's current rates for your area.