EnergyPlus · May 2026

Cheapest heat pump tariff UK: compare & switch now (May 2026)

A heat pump pulls heat from the air or ground and converts every 1 kWh of electricity into roughly 2.5–4 kWh of useful heat. To get the lowest annual running cost, that load needs a tariff designed around its operating windows. This page covers the cheapest UK heat pump electricity tariffs in May 2026 and how to match them to your home.

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Editorial information, not financial advice. Prices and policy can change — always confirm against the supplier and Ofgem.

Cheapest UK heat pump tariffs — May 2026

The cheapest heat pump tariffs in May 2026 are time-of-use products with extended off-peak windows during cheaper grid hours. Cosy Octopus offers three off-peak blocks per day (typically 04:00–07:00, 13:00–16:00, 22:00–24:00) at around 12p/kWh. EDF GoElectric Heat Pump and OVO Heat Pump Plus run similar structures. Standard flat-rate tariffs almost always cost a heat-pump home more.

Quick checklist (May 2026):

  • Cosy Octopus: ~12p/kWh off-peak, ~30p/kWh peak in May 2026.
  • EDF GoElectric Heat Pump: 7-hour off-peak overnight window with separate heat pump rate.
  • OVO Heat Pump Plus: ~£250/year credit + smart-meter scheduling.
  • Avoid flat-rate single-rate tariffs unless your COP is exceptionally high (3.5+).
Last updated
May 2026
Reviewed by
Energy Specialist
Audience
UK households & small businesses

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What changes your quote most

Annual kWh

Drives the unit-rate portion of your bill.

Meter type

Single-rate, Economy 7/10, smart, half-hourly all price differently.

Postcode & region

Standing charges and tariff availability vary by network region.

Term & start date

Fixes of 12/18/24/36 months trade certainty for flexibility.

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Cheapest UK heat pump electricity tariff (May 2026)

A clear, current overview to help you choose with confidence.

Why TOU tariffs win for heat pumps

Heat pumps run longest in the morning and evening. A TOU tariff with cheaper rates in those windows directly cuts the dominant heating cost — usually 60–70% of annual electricity for a heat-pump home.

Cosy Octopus structure

Three off-peak blocks daily designed to align with heat-pump warm-up cycles. Works best when paired with a smart thermostat that can pre-heat during off-peak.

Eligibility & smart meter

All major heat pump tariffs require a SMETS2 smart meter. Most also require an installed heat pump (verified via MCS certificate or installer evidence).

Boost Off-Peak / battery synergy

If you've added a home battery, TOU tariffs unlock an even bigger saving — charge battery off-peak, run pump/loads off battery during peak. Adds ~£200–£400/year on typical use.

Compare like-for-like

May 2026 comparison of UK heat pump electricity tariffs for a 9,000 kWh/year home. Quotes via the form match your meter and postcode.

What to compare Typical range (May 2026) Notes
Cosy Octopus ~£1,950/year estimate Three off-peak windows; flexible scheduling.
EDF GoElectric Heat Pump ~£2,050/year estimate Single overnight off-peak window.
OVO Heat Pump Plus ~£2,000/year estimate Includes £250/year heat-pump credit.
Standard flat-rate cap-linked ~£2,400/year estimate Avoid unless COP very high.
12-month fixed flat-rate ~£2,300/year estimate Marginally cheaper than cap; still worse than TOU.

How to switch to the cheapest heat pump tariff (May 2026)

  1. 1. Confirm SMETS2 smart meter

    Required for all heat pump TOU tariffs. Request from current supplier if needed.

  2. 2. Locate MCS certificate

    Most heat pump tariffs require evidence of an MCS-certified install.

  3. 3. Map your heat pump usage profile

    Note when it runs most — typically mornings and evenings for space heating.

  4. 4. Compare TOU tariffs

    Use the form on this page to get personalised heat pump tariff quotes.

  5. 5. Set up scheduling

    Configure your smart thermostat to pre-heat during off-peak blocks.

  6. 6. Apply and submit reads

    Faster Switching delivers in 5 working days. Submit opening meter reads.

Common pitfalls to avoid

The most frequent issues we see when households and businesses act on what looks like a good deal.

  • Switching to a heat pump tariff without smart-thermostat scheduling — the savings depend on pre-heating in off-peak.
  • Comparing the off-peak unit rate in isolation — peak rates are often higher than the cap.
  • Forgetting to provide MCS certificate evidence — most heat pump tariffs require it at sign-up.
  • Buying a battery to chase savings without modelling the import/export spread on your tariff first.

Frequently asked questions

What is the cheapest UK heat pump tariff in May 2026?

On typical 9,000 kWh annual use, Cosy Octopus and OVO Heat Pump Plus consistently come out cheapest, with EDF GoElectric Heat Pump close behind. Exact ranking depends on your daily schedule — use the form for a personalised quote.

Do I need a smart meter?

Yes. Every heat pump tariff in 2026 requires a SMETS2 smart meter reporting half-hourly data. Installation is free from your current supplier — request one before applying.

Do I need to prove I have a heat pump?

Most suppliers verify via MCS certificate, installer invoice, or photograph of the unit. Some accept self-declaration. Check each supplier's eligibility page.

Will switching break my heat pump warranty?

No. Tariff switching is unrelated to heat-pump installation. Warranty is governed by the installer/manufacturer.

Is a heat pump tariff worth it without a smart thermostat?

Less so. The savings depend on shifting load to the cheap windows — a smart thermostat (Tado, Nest, Hive) makes that automatic. Manual scheduling works but is less convenient.

How much can I save by switching?

Vs a flat-rate cap-linked tariff, typical heat-pump homes save £300–£600/year on a Cosy-style TOU tariff. Higher with a battery.

Can I combine a heat pump tariff with solar export?

Yes — heat pump tariffs are import-only. You can stack any Smart Export Guarantee (e.g. Octopus Outgoing) alongside.

What if my heat pump COP is low?

If your COP is below ~2.5, you may benefit more from improving the system (flow temperature, weather compensation, insulation) than from a tariff switch. Tariffs help most when the system is already efficient.

Trust, methodology and sources

Page governance

Reviewed by
Energy Specialist
Last updated
May 2026

How we keep this page current

We refresh this page each month against the latest Ofgem cap, supplier tariff changes and current scheme guidance. Worked numbers are illustrative; quotes you receive via the comparison form are personalised to your meter and postcode.

Editorial independence: our priority is clarity and like-for-like comparison. Where commercial relationships exist, options are still presented on suitability and the information available at the time.

Reputable UK sources we reference

If you spot anything that looks out of date (a rule change, a new scheme), please contact EnergyPlus so we can review and update this page.

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Updated on 31 May 2026