Heat Pumps

stevenageboro23

Currently Octopus have a ‘ Cosy Energy tariff which looks beneficial to those with a Heat Pump. 2x 3 hours =6 on cheap rate, and 3 x hours on peak rate. The rest is on the standard rate tariff.

Mstty

Yes it has been discussed a quick use of search and cosy tariff would give you this. 

As explained in that post if we weren't on a good fix we would move to that tariff.

https://forums.moneysavingexpert.com/discussion/6411346/cosy-octopus-for-heat-pump-owners/p1

Alnat1

@Mstty can you explain how the Cosy tariff would work for you? I don't have a heat pump (but it's something I'm interested in) and was trying to understand how the cheaper slots fit in with normal use.

I think you've said before that your family doesn't use too much at peak times, is that a big part of why it would work?

Reed_Richards

I personally think that the Cosy tariff is a poor match to many heat pump heating systems, mine certainly.  It's just a way of charging people more for electricity during the peak evening period.  But this was all discussed in another thread.  

Mstty

My view was different and in that thread linked above as well. We would save money on such a tariff compared to the SVT EPG because we are flexible, not stuck in our ways unwilling to change habits and have the ability to shift usage regardless of the heat pump running 24/7

If the person above disagrees of course they may call the post "drivel" and then have that comment removed for being against forum rules. Be kind everyone💙

Mstty

@Alnat1

From the posted link above have a read there

Ok couldn't resist here are my calculations as of today not knowing what will happen come April 2023

Current total average for December 30kwh

Current fix deal with Eon

30 kWh at 29.24p fixed until April 2024

£8.77 Total 

Cosy Octopus 

£1.58 6 cheap hours at 21.03p 

£1.68 3 expensive hours at 56.08p

£5.26 15 hours at 35.06p

£8.52 Total 

That's without shifting dishwasher, washing machine, Tumbledryer and oven cooking to the cheaper periods

However it's not clear what the energy subsidy from the Government will be from April 2023 so not one to calculate now so will stay on the fix for now.

Very interesting tariff though and the SC is cheaper on cost by £47 a year