Heat Pump vs Oil & Gas Running Cost Calculator 2026 | EcoSphere Energy
Running Cost Tool
Heat Pump vs Oil & Gas: Running Cost Calculator
Estimate your annual running cost saving by switching to a heat pump. Adjust the sliders for your home.
Current annual cost (est.)
£1,560
Heat pump running cost
£1,230
With smart tariff
£890
5-year saving (smart tariff)
£3,350
Estimates based on typical UK industry figures (2026). Individual results will vary. Get a tailored calculation →
Understanding the Numbers
Why COP matters
A heat pump’s Coefficient of Performance (COP) is the ratio of heat output to electricity consumed. A COP of 3 means 3 kWh of heat for every 1 kWh of electricity used. Modern Devon-climate ASHPs typically achieve seasonal COP 3.0–4.2.
Smart tariffs
Tariffs like Octopus Cosy and Intelligent Octopus offer electricity at 7–15p/kWh in off-peak windows. A heat pump timed to run overnight can cut running costs by 30–40% compared to a standard tariff.
Oil price volatility
Oil prices fluctuate significantly with global markets. Between 2020 and 2023, domestic oil prices rose over 70%. A heat pump removes that price risk — electricity is more stable and moving towards renewables.
Get a Personalised Running Cost Model
Our heat loss survey produces a full seasonal energy model for your specific home, not just estimates. Free, no obligation.
Request a free surveyHeat Pump Installers Across the South West
We cover Devon, Somerset, Cornwall, Bristol and Bath. Click your nearest location for an installer page with local pricing and grant info.