How heat pump energy tariffs work
Heat pump electricity tariffs offer cheaper electricity during selected periods, helping you reduce the cost of running a heat pump. Some tariffs use fixed off-peak windows, while others automatically shift your heat pump’s electricity use into cheaper periods. Because heat pumps work best when they run steadily, the aim is to use cheaper electricity without repeatedly switching the heating on and off.
Main options in 2026
- Octopus Cosy: Designed specifically for homes with heat pumps, with cheaper electricity periods during the day as well as other pricing periods. Its current example schedule includes 4am–7am and 1pm–4pm as low-price “dip” periods, allowing the home to build up some heat before more expensive periods. It requires a suitable smart meter and Octopus account.
- E.ON Next Pumped: A dedicated heat pump electricity tariff with cheaper electricity during the night, currently 10pm–6am, alongside different off-peak and peak periods. E.ON says the tariff is designed to reduce heating costs when a heat pump is used during cheaper periods. A working smart meter and half-hourly consumption data are required.
- OVO heat pump tariffs: OVO offers energy tariffs and support for households using electric heating and heat pumps. Availability, pricing and eligibility can change, so check OVO’s current tariffs and terms rather than relying on older advertised rates.
How to choose the right heat pump tariff
The cheapest headline p/kWh rate is not necessarily the cheapest tariff overall. Compare the day and night electricity rates, standing charge, off-peak hours, smart-meter requirements and how your heat pump actually uses electricity. A tariff with several cheaper periods during the day may work better for a heat pump than a tariff that only offers a short overnight discount.
