Best heat pump electricity tariff in the UK — June 2026
For most UK heat-pump homes the best-value option in June 2026 is a heat-pump time-of-use (TOU) tariff — led by Cosy Octopus at 13p/kWh across three cheap slots a day. The right pick still depends on your meter, your SCOP, and how much heating and hot water you can move into the cheap windows. This guide ranks the leading tariffs and shows how slot timing cuts running cost.
- Quick answer: Cosy Octopus (13p, 3 daily slots) is the benchmark heat-pump tariff; Intelligent Octopus Go (7p overnight) wins if you also charge an EV.
- Off-peak slot rates of 7–13p vs a ~24.7p capped single rate can cut heat-pump running cost materially — if you schedule into the slots.
- The Ofgem cap rises +13% to £1,862/yr from 1 July 2026, so locking in a TOU tariff now is more valuable than ever.
- A SCOP of 3–4 means 1 unit of electricity delivers 3–4 units of heat — combine that with cheap slots for the lowest real cost per kWh of heat.
Estimates only, verified June 2026. Tariff availability varies by supplier, region, meter type and payment method. Always check the tariff information label before switching.
Fast answer: what is the best heat pump electricity tariff in June 2026?
For most UK heat-pump homes the best-value tariff in June 2026 is Cosy Octopus, which gives three cheap windows a day at 13p/kWh (roughly 04:00–07:00, 13:00–16:00 and 22:00–00:00) — designed so a heat pump can pre-heat the home and tank when power is cheap. If you also charge an EV, Intelligent Octopus Go (7p/kWh, 23:30–05:30) often wins overall because you can dump both loads into the same cheap window.
Best heat-pump tariff by situation (June 2026):
- Heat pump only, can shift load: Cosy Octopus — 13p/kWh in 3 daily slots, peak ~30p.
- Heat pump + EV / battery: Intelligent Octopus Go (7p, 23:30–05:30) or E.ON Next Drive (~6.7p off-peak).
- Older multi-rate meter, lots of night use: a competitive Economy 7 (off-peak ~12.5–14p, 7h overnight).
- Little flexibility / mostly daytime heat demand: a strong single-rate fixed near the ~24.7p capped level — avoid a high TOU peak rate.
Key takeaways (UK-specific, June 2026)
Cap rising 1 July: the Ofgem cap rises +13% to £1,862/yr (confirmed 27 May 2026), so cheap heat-pump slots are worth more than ever.
SCOP does the heavy lifting: at SCOP 3–4, 13p/kWh of electricity is roughly 3.3–4.3p per kWh of delivered heat.
Smart meter required: Cosy, IOG and similar TOU tariffs need a working smart meter sending half-hourly data.
Scheduling is the win: the tariff only pays off if your controls move hot water and pre-heating into the cheap slots.
Want a tailored shortlist for your exact meter and usage? Use our comparison form below — tell us your postcode, meter type and contact details and we will help you compare whole-of-market options that match your heat pump.
Best heat-pump-friendly electricity tariffs, ranked (June 2026)
Ranked for a typical UK air-source heat-pump home that can shift hot water and some heating into cheap windows. Rates are indicative and verified June 2026; your real cost depends on your region, off-peak share and SCOP. The single-rate cap reference is ~24.7p/kWh (rising under the +13% July cap).
| # | Tariff | Cheap rate & window | Peak / other | Best for |
|---|---|---|---|---|
| 1 | Cosy Octopus | 13p/kWh in 3 daily slots (04:00–07:00, 13:00–16:00, 22:00–00:00) | ~30p peak (16:00–19:00 highest) | Heat-pump-only homes that can pre-heat and heat hot water in the slots. |
| 2 | Intelligent Octopus Go | 7p/kWh, 23:30–05:30 (6h, all home loads) | ~26–28p day rate | Heat pump plus an EV/battery you can charge overnight. |
| 3 | E.ON Next Drive | ~6.7p/kWh off-peak (overnight) | Higher day rate outside window | EV + heat-pump homes wanting a very low night rate. |
| 4 | OVO Charge Anytime | ~7p/kWh for managed EV charging (anytime) | Standard rate on other loads | EV-led homes; heat pump benefits via the standard import rate. |
| 5 | Economy 7 (best buys) | ~12.5–14p/kWh, 7h overnight (e.g. 00:30–07:30, region-dependent) | ~28–34p day | Older multi-rate meters with high overnight use (break-even ~40% night share). |
| 6 | Competitive single-rate fix | ~24.7p/kWh all day (around the cap) | Same rate all day | Homes with little flexibility or mostly daytime heat demand — avoids a punishing TOU peak. |
Octopus Cosy, EDF E7 ~13.2p, British Gas Standard E7 ~12.5p, OVO Simpler Energy E7 ~13.8p and Octopus E7 ~14p are the current reference points (June 2026). Rates change — always confirm on the tariff information label.
How slot timing and heat-pump scheduling cut running cost
A heat-pump TOU tariff only saves money if your system actually uses the cheap windows. The mechanism is simple: shift as much heating and hot water as comfort allows into the low-rate slots, then coast through the expensive peak.
Cosy Octopus, slot by slot
- 04:00–07:00 (13p): pre-heat the home before you wake and reheat the hot-water cylinder, so the morning peak needs little extra heat.
- 13:00–16:00 (13p): top up heat in the early afternoon to carry the home through the costly 16:00–19:00 peak without running the pump hard at ~30p.
- 22:00–00:00 (13p): a final reheat before the cheap rate ends, setting the home up for the overnight gap.
SCOP × slot rate = real cost of heat. At a SCOP of 3.5, electricity at 13p/kWh delivers heat at about 3.7p per kWh of heat; the same heat from the ~30p peak rate costs about 8.6p. Pushing load into the slots is where the saving comes from.
Practical scheduling tips
- Use the heat pump's built-in timer or weather compensation to lift flow temperature slightly during slots and ease off at peak.
- Schedule the hot-water cylinder reheat entirely within a cheap slot — it is a flexible, well-insulated store.
- Keep set-backs gentle (1–2°C). Deep overnight setbacks force a hard, inefficient morning recovery that can wipe out slot savings.
- If you have solar or a battery, pair a strong import slot with a good SEG export tariff to offset the July cap rise.
- Not sure TOU suits you? Compare against Economy 7 and the broader time-of-use tariff guide first.
How to choose your heat-pump tariff (step-by-step)
A quick process for UK homes with an air source (ASHP) or ground source heat pump (GSHP) before you switch in June 2026.
- Confirm your smart meter. Cosy, IOG and similar need a working SMETS2 (or upgraded SMETS1) sending half-hourly data.
- Estimate annual electricity use. Include the heat pump, any immersion backup, cooking, EV and appliances; use last year's kWh if you have it.
- Work out your off-peak share. How much heating and hot water can you realistically move into the cheap slots without losing comfort?
- Compare blended cost, not headline rate. Weight slot and peak rates by your real split, then add the standing charge (national typical ~63p/day).
- Lock in before 1 July if fixing. With the cap rising +13% to £1,862/yr, a competitive fix or TOU tariff secured now can save ~£300 over 12 months vs staying on the variable cap.
Important: a tariff helps, but heat-pump bills also hinge on insulation, flow temperatures, commissioning and controls. A cheap slot can't fix an inefficient setup.
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Costs, exclusions and common pitfalls (heat-pump tariffs, June 2026)
1) Peak rate is the trap
Cosy's ~30p peak (and the 16:00–19:00 highest band) costs more than a single-rate tariff. If your heat pump must run hard at peak, the slots can't rescue it.
2) Standing charge still applies
National typical ~63p/day (~£230/yr); ~58p East Midlands to ~70p Merseyside & N Wales. A low slot rate doesn't remove it.
3) Smart meter / data
TOU tariffs need a reliably communicating smart meter sending half-hourly reads. A flaky meter can break eligibility and billing.
4) Short windows, deep recovery
Aggressive setbacks between slots force an inefficient catch-up. Gentle scheduling keeps SCOP high and bills low.
5) Payment / supplier rules
Many TOU deals require direct debit, an online account and sometimes a specific supplier app or hardware integration.
6) The 1 July cap rise
The variable cap rises +13% to £1,862/yr from 1 July 2026. If you fix, weigh any exit fee against locking in below the rise.
Two realistic scenarios (with numbers)
Illustrative estimates using simple arithmetic so you can replicate them with your own figures (verified June 2026).
Scenario A: flexible home on Cosy vs single-rate
- Assumptions
- Annual electricity: 8,000 kWh (heat pump a large share). Smart meter installed; can move ~45% of use into Cosy slots.
- Single-rate
- ~24.7p/kWh, standing charge 63p/day: 8,000×£0.247 = £1,976 + £230 ≈ ~£2,206.
- Cosy Octopus
- 3,600 kWh slot @ 13p = £468; 4,400 kWh other @ ~30p = £1,320; + £230 ≈ ~£2,018.
What this shows: with a genuine ~45% slot share, Cosy comes out ahead (~£190/yr). Push more into the slots and the gap widens.
Scenario B: low-flexibility home (TOU backfires)
- Assumptions
- Annual electricity: 4,500 kWh; daytime heat demand, only 15% shiftable into slots.
- Single-rate
- 4,500×£0.247 = £1,112 + £230 ≈ ~£1,342.
- Cosy Octopus
- 675 kWh slot @ 13p = £88; 3,825 kWh @ ~30p = £1,148; + £230 ≈ ~£1,466.
What this shows: with only 15% in the slots, the ~30p peak makes Cosy ~£124/yr dearer. A single-rate fix near the cap wins.
Replicate this for your home: swap in your annual kWh and the tariff's slot/peak rates. If you don't know your slot share, model 15%, 30% and 45% to see the range — the break-even for Cosy is usually around a 30–40% slot share.
FAQs: heat-pump electricity tariffs (UK, June 2026)
What is the best electricity tariff for a heat pump in the UK?
For most homes in June 2026 it is Cosy Octopus: 13p/kWh across three daily slots (roughly 04:00–07:00, 13:00–16:00, 22:00–00:00), built for heat pumps. If you also charge an EV, Intelligent Octopus Go at 7p overnight often beats it overall.
How do the Cosy Octopus slots work?
Cosy gives three cheap windows a day at 13p/kWh and a higher peak (~30p, worst 16:00–19:00). You schedule the heat pump and hot water to pre-heat in the slots, then coast through peak. The more load you move into the slots, the lower your blended cost.
Is Economy 7 good for a heat pump?
It can be if you have an older multi-rate meter and shift a big share of use to the 7-hour night window (off-peak ~12.5–14p). The rule of thumb is a night share of ~40% to break even, because the day rate (~28–34p) is higher.
How does SCOP affect my running cost?
SCOP (seasonal coefficient of performance) is typically 3–4 for a well-set-up heat pump, so 1 kWh of electricity yields 3–4 kWh of heat. At SCOP 3.5, 13p/kWh electricity is about 3.7p per kWh of delivered heat — cheaper than gas once you factor in the slot rate.
Do I need a smart meter for a heat-pump tariff?
For time-of-use tariffs like Cosy and Intelligent Octopus Go, yes — they need a working smart meter sending half-hourly data. Standard single-rate and many fixed deals work without one, and legacy Economy 7 can run on an older multi-rate meter.
Does the July 2026 price cap affect heat-pump tariffs?
The Ofgem cap applies to default/variable tariffs and rises +13% to £1,862/yr from 1 July 2026 (confirmed 27 May 2026). Fixed and specialist TOU tariffs are priced separately, so a heat-pump TOU deal with good scheduling is a strong way to stay below the rising variable rate.
Can I combine a heat pump and an EV on one tariff?
Yes, and it often improves the maths. Tariffs like Intelligent Octopus Go (7p, 23:30–05:30) or E.ON Next Drive (~6.7p) let you dump both EV charging and heat-pump pre-heating into the same cheap window, lifting your off-peak share.
When does a single-rate tariff beat a TOU tariff?
When you can't shift much load — if under ~30% of your use lands in the cheap slots, the higher TOU peak (~30p) usually makes a competitive single-rate fix near the ~24.7p cap cheaper overall, as Scenario B above shows.
Trust, methodology and sources
Page details
- Written by
- EnergyPlus Editorial Team
- Reviewed by
- Energy Specialist
- Last updated
- June 2026
How we rank “best” heat-pump tariffs
We treat “best” as best fit for the household, not one universal winner, then rank for a typical UK air-source heat-pump home that can shift some load into cheap windows.
- Blended cost, not headline rate: slot and peak unit rates weighted by a realistic off-peak share, plus standing charge.
- Slot fit for heat pumps: how well the cheap windows line up with pre-heating and hot-water reheats.
- Eligibility: smart-meter/half-hourly requirement, region, payment method and meter type.
- Cap context: the +13% July 2026 cap rise to £1,862/yr as the variable-rate benchmark to beat.
- Practicality: whether the tariff needs apps, specific hardware or behaviour many households won't sustain.
Limitations (important)
- Rates are indicative June 2026 figures; they change and vary by region, meter and payment method.
- Scenarios use simplified rates and don't include every tariff feature (discounts, multi-band structures).
- Heat-pump electricity use varies widely by property, insulation, weather, flow temperature and controls.
- This guide is information, not financial advice. Always check the supplier's tariff information label and contract terms.
Sources (UK)
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