Record month for heat pumps
Octopus Energy sold more heat pumps in July 2026 than in any previous month, with sales 71% higher than the same period last year. This marks six straight months of growth for the supplier. Almost one in four new homes in England now come with a heat pump, and the figure tops 30% in Wales. Demand for Boiler Upgrade Scheme grants also rose 19% year-on-year, with the scheme now backing more than 80,000 installations.
Savings on smart tariffs
Households pairing a heat pump with Octopus’s Cosy tariff save an average of £227 a year compared with gas boiler users, and 94% of the supplier’s Cosy heat pumps run cheaper than gas. Average installation costs for Octopus customers sit at £3,000 when replacing an oil boiler and £4,000 for a gas boiler — figures that match or beat typical gas boiler prices. Since the BUS grant for oil boilers rose to £9,000 in April, switches from oil and LPG have nearly tripled.
Why the shift is speeding up
As we explained in our recent look at the push to ditch boilers, many households are weighing long-term costs against gas price swings. Rebecca Dibb-Simkin, Chief Product and Marketing Officer at Octopus, said: “The heat pump revolution is accelerating. We've never seen demand like this - thousands more households choosing to go electric to save money and insulate themselves from global price shocks. And we continue to put our money where our mouth is, sharing weekly saving data from our Cosy heat pump fleet on our Octopus Boiler Beater dashboard.” You can compare current energy deals on our gas and electricity pages to see how tariffs stack up before making the call.
