Heat Pump Tariff Comparison UK 2026: All Providers Compared
The difference between the best and worst heat pump tariff is £380 per year. Yet most heat pump owners never compare tariffs, staying on standard variable rates that cost them hundreds of pounds more than necessary. This side-by-side comparison of every major UK supplier's heat pump tariff for 2026 gives you the data to make the right choice.
We have calculated real annual costs assuming 4,000 kWh of heat pump electricity usage, compared off-peak rates and flexibility, and identified which tariff suits different types of homes.
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The Master Comparison Table
| Supplier | Tariff | Off-Peak Rate | Standard/Day Rate | Peak Rate | Off-Peak Hours | Type |
|---|---|---|---|---|---|---|
| Octopus | Cosy | ~10p | ~23.5p | ~33p | 9hrs (3 windows) | Multi-rate ToU |
| Octopus | Intelligent Go | ~7-10p | ~27-30p | N/A | 6hrs (overnight) | Two-rate ToU |
| Scottish Power | SmartGen | ~15-18p flat all day | 24hrs | Flat reduced | ||
| EDF | GoElectric | ~10-12p | ~25-28p | N/A | 7hrs (overnight) | Two-rate ToU |
| E.ON | Next Drive | ~9-11p | ~26-30p | N/A | 7hrs (overnight) | Two-rate ToU |
| OVO | Standard/Fixed | ~23-24p flat all day | N/A | Flat standard | ||
| British Gas | Flex/Fixed | ~24.5p flat all day | N/A | Flat standard | ||
Rates approximate as of Q1 2026. All rates vary by region and are subject to change.
Annual Cost Comparison
Which Tariff Suits Your Home?
Most Heat Pump Homes
Octopus Cosy — three off-peak windows, most flexible, best overall value
Excellent Insulation + EV
EDF GoElectric or E.ON Next Drive — lowest overnight rates
Want Simplicity
Scottish Power SmartGen — flat reduced rate, no scheduling needed
Poor Insulation
Scottish Power SmartGen — flat rate avoids peak penalties when 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?
- 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 rate structure
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?
Octopus Cosy typically delivers the lowest annual costs for most heat pump owners due to three daily off-peak windows and rates around 10p/kWh. Annual heat pump electricity costs of £600 are achievable with 60% off-peak shifting.
Do I need a time-of-use tariff for my heat pump?
You do not need one, but it saves significant money. A flat reduced rate like Scottish Power SmartGen is simpler if scheduling does not suit you. But time-of-use tariffs can save an additional £60-150 per year.
Can I switch heat pump tariffs easily?
Yes. Switching energy supplier typically takes 2-3 weeks and is free unless you are on a fixed-term contract with exit fees. Your electricity supply is not interrupted.
How much can the right tariff save heat pump owners?
Switching from a standard variable tariff to the best heat pump tariff can save £280-450 per year for a typical home. Over 15-20 years, that is £4,200-9,000 in total savings on running costs.
Do all heat pump tariffs require a smart meter?
All time-of-use tariffs require a smart meter for half-hourly billing. Flat reduced rate tariffs recommend but may not strictly require one. 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 running cost gap between heat pumps and gas boilers narrows significantly with the right tariff choice. Combined with solar panels, home insulation, and smart controls, the total cost of heat pump ownership is becoming genuinely competitive for most UK homes.