Energy Tariffs
Heat Pump Tariffs UK 2026: Octopus Cosy vs OVO Heat Pump Plus vs E.ON
How the three main heat pump electricity tariffs compare on rate, off-peak windows, and annual cost at typical heat pump consumption.
TL;DR
Octopus Cosy offers the lowest off-peak rate (around 7-9p/kWh during two daily windows) and suits heat pumps running on a schedule. OVO Heat Pump Plus bundles a boiler backup guarantee. E.ON Drive + Heat is best for households running both a heat pump and an EV.
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Key Facts
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What makes a heat pump tariff different
Standard electricity tariffs charge a single unit rate around the clock. Heat pumps typically run in two or three bursts per day - morning warm-up, daytime top-up, and evening peak. A heat pump tariff shifts consumption into cheaper overnight or off-peak windows, reducing the effective cost per unit of heat delivered.
The saving depends on three variables: the off-peak rate, the width of the cheap window, and how well the heat pump schedule aligns with those windows. A heat pump controlled by a Nest or Hive thermostat can be programmed to run during off-peak hours automatically.
Octopus Cosy 2026
Octopus Cosy provides two off-peak windows daily: 04:00-07:00 and 13:00-16:00. Off-peak rates in 2026 sit at approximately 7-9p/kWh depending on region, against a standard rate of around 22-24p/kWh outside those windows. The afternoon window is the most useful for heat pump pre-warming before the evening peak.
Octopus publishes regional rate tables on its website. Customers in the North of England and Scotland typically see the lowest off-peak rates due to generation proximity. Southern England rates are marginally higher.
Cosy requires an Octopus-compatible smart meter and is available alongside the Intelligent Octopus platform for households that also run an EV.
OVO Heat Pump Plus 2026
OVO Heat Pump Plus bundles a flat preferential electricity rate with a backup boiler service guarantee - OVO covers call-out costs if the heat pump fails. The rate is not as low as Octopus Cosy's off-peak windows but provides a single predictable unit rate without the need to schedule consumption.
This tariff suits households where the heat pump runs continuously rather than in scheduled bursts, or where the occupants cannot reliably align consumption with off-peak windows.
E.ON Drive + Heat 2026
E.ON Drive + Heat combines an overnight cheap window (typically 00:00-07:00) with a standard daytime rate. It is designed for households running both a heat pump and an electric vehicle, allowing a single overnight charging and heating cycle. Households without an EV may find the single window less useful than Octopus Cosy's two-window structure.
Cost comparison at typical consumption
At 4,000 kWh annual heat pump consumption with 60% off-peak usage:
- Octopus Cosy: approximately £480-520/year for heat pump electricity
- OVO Heat Pump Plus: approximately £580-620/year at flat preferential rate
- E.ON Drive + Heat: approximately £520-560/year depending on overnight shift success
- Standard tariff (price cap): approximately £980/year at same consumption
Figures are indicative based on published 2026 rates and Ofgem Q2 2026 price cap. Actual bills depend on regional network charges, standing charge, and smart meter data accuracy.
Which tariff to choose
The choice depends on the heat pump schedule and household profile. Octopus Cosy suits properties where the heat pump can be programmed to the two daily windows. OVO Heat Pump Plus suits properties wanting simplicity and backup cover. E.ON Drive + Heat suits dual EV and heat pump households wanting a single overnight cycle.
All three require switching away from a standard variable tariff. Switching is free and does not affect the heat pump warranty. Ofgem's consumer switching guidance applies: suppliers must provide a final bill within six weeks of switching.
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Disclaimer This guide is for information only. KaelTripton.com is not regulated by Ofgem or the FCA. Tariff rates change with the price cap and supplier discretion - verify current rates directly with each supplier before switching. No commission is received from any supplier listed. |
What is the cheapest heat pump tariff in the UK?
Octopus Cosy typically offers the lowest per-unit rate during off-peak windows (approximately 7-9p/kWh in 2026), making it the cheapest option for heat pump owners who can schedule consumption to align with the 04:00-07:00 and 13:00-16:00 windows.
Do I need a smart meter for a heat pump tariff?
Yes. All three main heat pump tariffs (Octopus Cosy, OVO Heat Pump Plus, E.ON Drive + Heat) require a smart meter to measure off-peak consumption accurately. Standard credit meters are not eligible.
Can I use Octopus Cosy with a heat pump and an EV?
Yes. Octopus Cosy can run alongside the Intelligent Octopus Go tariff for EV charging, or customers can use the Intelligent Octopus platform which covers both. The two off-peak windows suit heat pump pre-warming; overnight EV charging runs separately.
Does switching heat pump tariff affect my warranty?
No. Switching electricity supplier or tariff does not affect a heat pump manufacturer's warranty. The warranty covers the equipment, not the energy contract.
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