For the first time, efficient heat pumps in the UK are cheaper to run than gas boilers according to new analysis from RAP - The Regulatory Assistance Project (RAP) - an independent, non-partisan, non-governmental organisation dedicated to accelerating the transition to a clean, reliable, and efficient energy future.
This is mainly down to gas prices increasing more than electricity pricing.
The detailed analysis shows that with a coefficient of performance (COP) of 3, a heat pump starts to become cheaper to run than a gas boiler. In the past, a COP of around 3.7 was required to achieve the same running costs as a gas boiler.