The new Heat Pump Tracker tariff is available to new and existing customers with any heat pump technology.
Designed in conjunction with experts at CB Heating to help customers save cash and carbon, the tariff offers six hours of discounted zero carbon electricity every day. With two off-peak windows from 4am – 7am and 1pm – 4pm, customers can shift their consumption without the burden of any peak rates.
The announcement responds to recent research conducted by EDF1 which shows more than two thirds of Brits (67%) are seeking greater control over their energy costs, with 42% of those without an air source heat pump admitting they have concerns about their current heating systems. The top causes for concern include rising costs (71%) and environmental impacts (40%).
With 65% of Brits currently looking into cheaper pricing options such as off-peak savings, customers can take advantage of greater control over their consumption, with access to:
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• Savings without the peaks. Heat pump users will benefit from an annual £164 saving compared to SVT when switching to the Heat Pump Tracker tariff, with the peace of mind of no premium peak prices.
• Shift more to save more. Customers that shift consumption to the off-peak hours can expect to save more than £164 a year.
• Savings across the entire home. With off-peak discounts applying to all electricity usage in the home, customers can benefit from unit rates which are cheaper than the price cap for all appliances.
• No hassle or exit fees. Enjoy fixed discounts for three years, but with the freedom to switch to another supplier or tariff anytime.
• Despite their cost and carbon-saving potential, EDF’s study found only 2% of respondents have an air source heat pump in their homes, with 26% of Brits planning to install an air source heat pump within the next five years.
Seven in 10 Brits perceive not needing to replace their current heating system as a significant deterrent in switching to a heat pump, with 26% only likely to install a heat pump when they next carry out home renovations.
When the time comes to replace heating systems, however, 55% would consider monetary savings on their bills as the most important factor in their decision to switch. 31% also believe that heat pumps would have a positive influence on their decision to buy a new home.
EDF is making heat pumps accessible to as many of its customers as possible, which is why it recently acquired leading installer CB Heating. Together the two companies are offering £750 off new heat pump installations to celebrate the launch of the new tariff.
For a three-bedroom home, a new heat pump could save up to £260 annually in running costs compared to an old gas boiler, £335 compared to an old oil boiler, or £940 compared to an old electric storage heater. Switching from an A-rated gas boiler to a standard air source heat pump would further cut a household’s carbon footprint by 1.9 tonnes, equivalent to the carbon emissions produced by a return flight from London, UK to Perth, Australia.
