EDF launches Britain's first Heat Pump Tracker Tariff guaranteed to beat the price cap

• EDF is helping customers save cash and carbon with daily off-peak discounts and no peak prices on its new Heat Pump Tracker tariff.
• Heat pump users that switch to the tariff will save at least £164 against SVT, with greater savings for shifting consumption to the off-peak windows.
• Having recently acquired leading heat pump installer CB Heating, EDF is offering £750 off new heat pump installations to celebrate the launch of the new tariff.

EDF has launched the UK's first heat pump tariff to never charge customers more than the price cap. 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 EDF¹which 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:

• 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^[2].

Philippe Commaret, Managing Director of Customers at EDF, said:"Everyone plays a significant part in helping Britain achieve net zero which is why we're pleased to be bringing a heat pump tariff to both new and existing customers in the market, helping them save at least £164 a year, no matter what type of heat pump technology they may have already installed in their homes.

"Working closely with CB Heating to offer £750 off the cost of a new air source heat pump installation, we hope to support more customers with making the switch to greener technologies and, in doing so, reward them with further cash and carbon savings."

For more information or to sign up to the Heat Pump Tracker Tariff trial, click here: Save Up to £164 with EDF's Heat Pump Tariff.

*T&Cs apply. Offer ends on 30^th April 2024. For more details: Air Source Heat Pumps - Efficient Green Heating For 2024.

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