Ovo offers cheaper rate for Vaillant heat pumps4th February 2024
UK: Energy provider OVO has teamed up with Vaillant to offer a lower electricity rate to homeowners with a Vaillant heat pump.
Homeowners with a Vaillant heat pump will now be able to access OVO’s new Heat Pump Plus deal of 15p/kWh. According to Ovo, this will make heat pumps cheaper to run on average by £495.00 per year.
Nearly 8 in 10 (78%) consumers say running costs are one of the main barriers to installing a heat pump, and nearly 9 in 10 (85%) would switch to a heat pump if they were cheaper to run.
Ovo’s heat pump customers will have two separate rates – one for their heat pump, and one for the rest of their household energy usage. Both new and existing Vaillant customers with an internet-connected Vaillant AroTHERM or AroTHERM plus air source heat pump can access the new rate.
“The UK is trailing far behind Europe on its heat pump installations. Yet our data shows that when paired with innovative tariffs to reduce the cost, alongside the Boiler Upgrade Scheme, the uptake increases while rewarding early adopters,” said Ovo’s chief commercial officer Mat Moakes.