OVO has announced that their Heat Pump Plus add-on will be discontinued. Users who previously paid a rate of 15p/kWh for the electricity used by their heat pump now face their heating costs increasing by 60% in February if they switch to a standard variable tariff. With big bills looming, what can Heat Pump Plus users do to keep their costs low?
The good news is that the solution is clear: people who switch to a time-of-use tariff and use Havenwise can continue to see low bills whilst maintaining comfort. Havenwise customers regularly see rates below 15 p/kWh by combining time-of-use tariffs with Havenwise’s smart optimisation. Using Havenwise with a time-of-use tariff means your heat pump will be optimised for efficiency, personal cost and comfort.
For people who own a heat pump and no other smart devices, a tariff such as Octopus Cosy or E.ON Next Pumped will give cheap off-peak rates for heating your home (and a peak-rate). Havenwise works around these slots and heats your home for less.
If you also own an electric vehicle (EV), you can access other tariffs with even cheaper overnight rates. Octopus’s premier EV tariff, Octopus Intelligent Go, gives you 6 hours of 7p per kWh overnight. Other options include E.ON Next Drive and EDF Go.Electric. Havenwise can take advantage of the super cheap window to pre-heat your home and keep your bills down.
If you want the cheapest prices possible, Octopus Agile might be a good option for you. This tariff offers some of the cheapest electricity by tracking half-hourly wholesale prices, which are typically around 30% lower than standard tariffs and can even go negative during periods of excess green energy. Prices can spike at peak times (up to 100p/kWh a few days per year), so it’s best for risk-tolerant users or homes with a battery.
Heat Pump Plus was a tariff add-on that would exempt your heat pump from paying typical rates for energy. OVO integrated with heat pump manufacturers to get your heat pump’s consumption data and reduce its costs on your bill. Havenwise helped out on the OVO Heat Pump Flex trial by automatically shifting OVO users' heat pump consumption around the clock to align consumption better with moments of abundant green energy and cheap prices.
Heat Pump Plus could be combined with flat-rate energy plans or dynamic tariffs, which set electricity prices for the rest of the home.
Havenwise keeps an eye on your heat pump, making sure it operates as it should and keeps up with changes in your tariff. Our AI automatically optimises your heat pump to ensure comfort at the lowest possible cost. Your building characteristics, local weather, heat pump efficiency and more, it's all accounted for to save you money. You'll also have 24/7 access to the highly-rated Havenwise support team for any questions.
Havenwise works with any energy provider and tariff.
We provide controls and monitoring for heat pumps without the need for extra hardware. Homeowners enjoy maximum comfort and reduced energy bills, and installers save time with every install. Homeowners, start a free trial today!
