EDF has unveiled a new tracker tariff which will keep costs for heat pump users below the price cap.
The new tariff, which the supplier says is a UK industry first, offers six hours of discounted zero carbon electricity every day, with no peak prices. The two off-peak windows will operate from 4am – 7am and 1pm – 4pm.
EDF said its new offering will mean customers who shift consumption to the off-peak hours can expect to save more than £164 a year.
The new tariff was designed in conjunction with heat pump installer CB Heating, a company recently acquired by EDF.
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.”
Recent research conducted by EDF found 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%).
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.
It comes as The Telegraph recently reported that more than half of Boiler Upgrade Scheme (BUS) grant cash remains unclaimed two years on from the scheme’s launch.
It said data from Ofgem shows £183 million in potential grants remain unclaimed, with just £127 million in grants issued despite a £300 million budget.
An Ofgem spokesperson said that 22,307 households had been given the grants in the 23 months to March, compared with a target of about 55,000. The figure will rise only slightly when the latest figures are added this week.