Heat Pump Tariff Comparison UK 2026: All Providers Compared
The right tariff can cut a heat pump's electricity bill by a few hundred pounds a year. Yet many heat pump owners never compare tariffs and stay on standard variable rates. This comparison sets out what each major UK supplier offers heat pump owners in 2026: which tariffs are open, which have closed, and which are really electric vehicle tariffs.
Supplier unit rates are regional and change often, so we describe each tariff's structure rather than quoting point rates, and we use the Ofgem price cap (26.32p per kWh, 1 October 2026 to 31 December 2026) as the benchmark for an illustrative annual cost on 4,000 kWh of heat pump electricity. Check each supplier's current rates before switching. Last reviewed October 2026.
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The Master Comparison Table
| Supplier | Tariff | How it works | Cheap hours | Status |
|---|---|---|---|---|
| Octopus | Cosy | Cheap windows 51% below regional day rate; peak (4-7pm) 50% above | 8hrs (3 windows) | Open (heat pump tariff) |
| Octopus | Intelligent Go | Cheaper overnight rate | Overnight | EV tariff: needs an eligible EV or charger |
| Scottish Power | Heat Pump Saver | Dedicated heat pump tariff | - | Not currently available (ScottishPower) |
| EDF | GoElectric | Cheaper overnight rate | Overnight | EV tariff: usually needs an EV or charger |
| E.ON | Next Drive | Cheaper overnight rate | Overnight | EV tariff: usually needs an EV |
| OVO | Heat Pump Plus | Discounted heat pump electricity | - | Closed from 1 February 2026 (OVO) |
| British Gas | Standard variable / fixed | Variable rate set by the Ofgem price cap (26.32p/kWh GB average) | None | Open (flat rate) |
Sources: supplier websites and Ofgem (1 October 2026 to 31 December 2026). All rates vary by region and change often: check the supplier's current rates. Last reviewed October 2026.
Annual Cost Illustration
Which Tariff Suits Your Home?
Most Heat Pump Homes
Octopus Cosy — three cheap windows, most flexible, designed for heat pumps
Excellent Insulation + EV
EDF GoElectric or E.ON Next Drive — EV tariffs with cheaper overnight rates (usually need an EV)
Want Simplicity
A competitive flat-rate or fixed tariff — no scheduling needed
Poor Insulation
A flat-rate tariff avoids peak penalties when the heat pump runs all day
How to Choose
- Check your annual heat pump electricity usage from your smart meter data
- Assess your insulation quality — this determines how much usage you can shift to off-peak
- Consider your lifestyle — are you willing to schedule heating or do you prefer set-and-forget?
- Check eligibility — EV tariffs usually require an electric vehicle, and some heat pump tariffs have closed
- Factor in solar panels if you have them — they reduce daytime grid dependency on any tariff
- Model the costs using your actual usage data against each tariff's current rates
For our overall recommendation, see our best heat pump tariff guide. For tips on reducing usage regardless of tariff, read our 10 cost-cutting tips.
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Frequently Asked Questions
Which is the cheapest electricity tariff for heat pumps in the UK?
For most heat pump owners who can schedule their heating, Octopus Cosy is the strongest option: three daily cheap windows at 51% below the regional day rate. In our illustration, 4,000 kWh costs about £731 a year with 60% of use in the cheap windows, against about £1,053 at the price cap rate. Rates are regional, so check current rates.
Do I need a time-of-use tariff for my heat pump?
You do not need one, but time-of-use tariffs can save a few hundred pounds a year if you can schedule your heating. If scheduling does not suit you, a competitive flat-rate tariff is simpler. Scottish Power's Heat Pump Saver is not currently available and OVO's Heat Pump Plus closed on 1 February 2026.
Can I switch heat pump tariffs easily?
Yes. Switching energy supplier is free unless you are on a fixed-term contract with exit fees, and your electricity supply is not interrupted.
How much can the right tariff save heat pump owners?
In our illustration for a home using 4,000 kWh, moving from the price cap rate to a Cosy-style tariff with 60% of use in cheap windows saves about £320 a year, or roughly £4,800 to £6,400 over 15-20 years on running costs if rates stayed the same. Your saving depends on your usage pattern and regional rates.
Do all heat pump tariffs require a smart meter?
All time-of-use tariffs require a smart meter for half-hourly billing. Smart meters are installed free by your supplier.
Heat Pump Tariffs in the UK Energy Transition
The development of dedicated heat pump tariffs represents a crucial step in making electric heating affordable for UK households. As the Boiler Upgrade Scheme drives adoption and installation standards improve, the right tariff choice widens the running cost advantage a heat pump can already have over a gas boiler at price cap rates. Combined with solar panels, home insulation, and smart controls, the total cost of heat pump ownership is becoming genuinely competitive for most UK homes.