What are the best tariffs if you have an EV and a heat pump?
Why EV and heat pump owners need to choose the right tariff
EVs and heat pumps are energy-intensive, and using them together increases electricity consumption and costs. It's crucial to choose a tariff that offers cost-efficient electricity and suits your usage.
Managing costs means matching your energy use to the right tariff. Without the right plan, you face paying higher rates during peak hours, even if you can shift your usage to cheaper times.
Time-of-use (TOU) tariffs offer cheaper rates when energy demand is lower, usually at night. If you own an EV and a heat pump, these tariffs can lower your overall costs by encouraging you to use energy during cheaper times.
How do TOU tariffs work with EVs and heat pumps?
TOU tariffs charge different rates depending on the time of day. Unlike flat-rate tariffs which cost the same whenever you use energy, TOU tariffs charge less during off-peak periods.
Off-peak periods typically occur overnight when demand is low, while peak periods usually run from early morning to late afternoon. To save money, charge your EV overnight during off-peak hours, and schedule your heat pump to pre-heat during these times for reduced costs.
By scheduling your energy use, you can take advantage of lower off-peak rates saving you money on both your EV charging and heat pump use.
Cost analysis: how much can you save with an EV and heat pump?
The table below compares estimated annual electricity costs and potential savings for a UK household running both an EV and a heat pump. To provide a like-for-like comparison, we've based our calculations on the following assumptions:
- EV charging: 2,500 kWh of electricity a year, equivalent to approximately 8,000–10,000 miles of driving, depending on the vehicle's efficiency.
- Heat pump: 4,000 kWh of electricity a year, although actual consumption will depend on the home's size, insulation and heating requirements.
- General household electricity: 2,500 kWh a year, based on Ofgem's typical medium-use electricity consumption figure for 2026.
- Electricity prices: Published tariff rates for Eastern England, using October 2026 prices.
- Off-peak usage: Some EV charging, heating and general electricity consumption is shifted to cheaper periods where the tariff allows.
- Standing charges: Each tariff's daily standing charge is included in the annual total, assuming 365 days of supply.
The comparison covers three types of electricity tariff:
- Flat-rate tariff: Charges the same unit rate throughout the day, regardless of when electricity is used. In our table below, we’ve assumed figures of 26.61p/kWh for each unit of electricity consumed, plus a daily standing charge of 51.84p, based on Ofgem’s price cap for Eastern England.
- Time-of-use (TOU) tariff (Octopus Go): Offers cheaper electricity at specified times, particularly useful for overnight EV charging. Two tariff rates are available: 9.40p/kWh for electricity consumed during the off-peak period (12.30am-5.30am) and 34.71p/kWh for all other times.
- Heat pump-focused tariff (Cosy Octopus): Offers discounted electricity during several periods of the day, helping households manage heating costs more efficiently. It charges 14.13p/kWh during the three off-peak periods (4am-7am, 1pm-4pm and 10pm-12am). It then charges 28.82p/kWh for all other times except the peak period of 4pm-7pm, when electricity costs 43.22p/kWh
Both Octopus tariffs also come with a daily standing charge of 51.67p.
Actual costs and savings will vary depending on your electricity usage, location and ability to take advantage of cheaper rates:
| Tariff type | EV charging | Heat pump | Other electricity | Standing charge | Total annual cost | Annual saving |
|---|---|---|---|---|---|---|
| Flat-rate (Ofgem cap) | £665 | £1,064 | £665 | £189 | £2,584 | – |
| Octopus Go | £298 | £1,186 | £773 | £189 | £2,446 | £138 |
| Cosy Octopus | £500 | £887 | £701 | £189 | £2,277 | £307 |
Figures are illustrative estimates based on electricity tariffs published for Eastern England in October 2026. Calculations assume that 90% of EV charging takes place during Octopus Go's discounted overnight hours and that households using Cosy Octopus can schedule 55% of their heat pump electricity consumption during cheaper periods. Other electricity consumption is distributed across the different tariff periods.
Actual bills will vary depending on energy consumption, regional prices and how much electricity can be used during cheaper periods. The calculations exclude any electricity generated by solar panels or supplied by home batteries.
Strategies for homes with an EV and heat pump
To reduce costs of using an EV and heat pump, you can use a combination of strategies:
- Smart charging: Schedule EV charging during off-peak hours to avoid peak rates and lower costs
- Scheduled heating: Set your heat pump to run during off-peak hours to save on heating costs
- Home batteries: Store energy during off-peak hours for use during peak times, helping reduce your reliance on expensive electricity
- Apps and energy monitors: Track energy usage to maximise savings.
Off-peak hours may not always align with your energy needs, which can be challenging. For example, if your EV needs charging during peak times or your heat pump requires heating at specific times, you may miss out on the bigger savings. However, with smart charging and home batteries, you can still reduce your costs.
Supplier overview: who offers the right tariff?
Several key suppliers offer tariffs tailored to homes with EVs and/or heat pumps. Here are some options to consider:
British Gas
- Relevant tariffs: EV Power (EV), Heat Power (heat pump) and Hive Power+ (EV charging add-on)
- Tailored for: EVs, heat pumps or a combination of both. Hive Power+ offers an additional discount on smart EV charging with compatible Hive chargers
- Smart meter requirement: Yes, smart meters are required for these specialist tariffs.
EDF Energy
- Relevant tariffs: GoElectric (EV), Heat Pump Tracker (heat pump).
- Tailored for: The Heat Pump Tracker provides electricity at 10p/kWh below the standard rate between 4 am and 7 am and 1 pm and 4 pm – with no additional surcharge at peak times. GoElectric is a more traditional time-of-use tariff, offering discounted electricity between 11 pm and 6 am.
- Smart meter requirement: Yes, a working smart meter capable of communicating with EDF is required, with half-hourly readings needed for Heat Pump Tracker.
E.ON Next
- Relevant tariffs: Next Drive and Next Drive Smart (EV), Next Pumped (heat pump)
- Tailored for: Next Drive tariffs are geared to EV owners with or without smart charging capabilities, while Next Pumped offers a spread of rates across the day and night for heat pumps.
- Smart meter requirement: Yes, a working smart meter capable of providing half-hourly consumption readings is required.
Octopus Energy
- Relevant tariffs: Octopus Go and Intelligent Octopus Go (EV), Cosy Octopus (heat pump)
- Tailored for: Octopus recommends Intelligent Octopus Go for many households with both an EV and heat pump, provided their vehicle or charger is compatible.
- Smart meter requirement: Yes, smart meters are required to track accurate usage during off-peak periods.
OVO Energy
- Relevant tariffs: Charge Anytime (EV) only (OVO discontinued its heat pump tariff in February 2026)
- Tailored for: EVs only – allows EV owners to charge their EV at a discounted rate or pay a monthly subscription for free home charging up to a specified amount (700 miles on the Standard plan).
- Smart meter requirement: Yes.
ScottishPower
- Relevant tariffs: EV Saver and EV Optimise (EV), Heat Pump Saver (heat pump).
- Tailored for: EV Saver offers discounted electricity between midnight and 5am, while Heat Pump Saver provides a lower rate between 11am and 4pm daily, benefiting heat pumps and other household appliances, including EV chargers. EV Optimise offers additional smart charging savings on eligible standard tariffs, but cannot be combined with EV Saver or Heat Pump Saver.
- Smart meter requirement: Yes.
These tariffs are available nationwide, but specific options may vary by location and supplier coverage.
Tips before you switch
Before switching to any new tariff, keep these important considerations in mind:
Smart meter requirement
You need a smart meter to track off-peak usage and benefit from the lower rates. Ensure your smart meter is SMETS2 compliant to allow switching between suppliers without affecting functionality and supply. If you’re not sure, check with your supplier.
Compatible hardware checklist
You'll need:
- Smart charger: Make sure your EV has a smart charger that you can schedule to charge during off-peak hours
- Heat pump with scheduling: Check that your heat pump can schedule operation during off-peak times. Many modern heat pumps have built-in scheduling features that work well with TOU tariffs.
Monitor energy use
Track your energy use before and after switching to check savings.
FAQs
Can one tariff serve both an EV and heat pump efficiently?
Yes, but it depends on your usage. Some tariffs focus on EVs, others on heat pumps. A battery can help balance usage and boost savings.
Are there specific energy tariffs for heat pump users?
Yes, Octopus Cosy is tailored for heat pumps for example, offering reduced rates during off-peak hours.
Is a home battery useful with TOU tariffs?
Yes, a home battery is useful with TOU tariffs. It stores cheap electricity from off-peak hours for use during peak times, therefore reducing costs.
Are combined EV and heat pump tariffs available?
There’s currently a lack of combo tariffs designed specifically for both EVs and heat pumps. However, smart technology setups can simulate combined benefits. By installing a home battery, you can store electricity during off-peak hours and use it during peak times, effectively managing both EV charging and heat pump operation. Smart meters and compatible chargers help this further, allowing for efficient energy use and increased savings.
Can I use Intelligent Octopus Go with a heat pump?
Yes, you can use Intelligent Octopus Go with a heat pump, but it's not specifically designed for them. This tariff primarily supports EVs so it may not offer the most cost-effective rates for your heat pump.
For greater savings, consider Octopus Cosy. It's tailored for heat pump users, offering multiple off-peak periods throughout the day. This allows you to run your heat pump during cheaper hours and reduce overall energy costs.
Can I switch between EV and heat pump tariffs seasonally?
Yes, you can switch between EV and heat pump tariffs seasonally with suppliers like Octopus, typically with a notice period of 30 days. Switching tariffs helps you align energy use with seasonal needs, such as prioritising EV charging in summer and heat pump use in winter.
Can I combine solar panels with my EV and heat pump setup?
Yes, you can combine solar panels with your EV and heat pump setup. Solar panels reduce energy costs by generating electricity when the sun shines. When paired with battery storage and TOU tariffs you can store excess energy, improving efficiency and savings by using cheaper energy when needed.
Are there any government incentives for installing heat pumps or EV chargers?
Yes, the UK government offers incentives for installing heat pumps and EV chargers.
The Boiler Upgrade Scheme offers up to £7,500 for installing heat pumps, while the Electric Vehicle Chargepoint Grant offers up to £350 for home chargepoints.
Check eligibility and application details on government websites.
