Octopus Energy has reported a 58% rise in heat pump enquiries in October. The company said heat pump demand has reached its highest level since March. It linked the increase to uncertainty over the future of the Boiler Upgrade Scheme (BUS) ahead of the Budget and to concerns about rising gas prices.
The company announced the figures in London on 29 October 2026. On the same day, government statistics showed that applications to the BUS reached a record high in September.
Heat pump demand driven by grant uncertainty and gas prices
Octopus Energy is a clean energy and technology business. The company says it supplies 11 million households worldwide and operates in 27 countries, with heat pump, solar and EV leasing businesses alongside its energy retail operations.
According to the company, enquiries last peaked in March, when the war in Iran drew attention to energy prices and to Britain’s reliance on volatile fossil fuels. It said publicity about possible cuts to government schemes in the run-up to the Budget left households unsure whether they might miss out on support to switch.
Boiler Upgrade Scheme applications reach a record high
Boiler Upgrade Scheme statistics for September 2026 from the Department for Energy Security and Net Zero (DESNZ) show more than 9,700 applications in September. That was 30% higher than in August.
Applications rose from 4,089 in September 2025 to 9,738 in September 2026, an increase of 138% year on year. Octopus said the number of vouchers had also more than doubled over the same period.
The government has since confirmed in the Budget 2026 document that the BUS will keep its £400 million funding. According to Octopus, the government sees heat pumps as central to reducing reliance on volatile fossil fuel markets. The company said the funding would allow hundreds of thousands of British families to install a heat pump.
Running cost claims from fleet data
Octopus also pointed to its Cosy Heat Pump Fleet Performance Dashboard, which it calls the Boiler Beater. The dashboard streams data from thousands of the company’s heat pumps across the UK.
Based on October 2026 data, the company said 99% of its Cosy heat pumps are cheaper to run than a gas boiler. It said they typically reduce bills by 25% compared with a gas boiler. Climate Global News has previously reported on Octopus data comparing heat pumps and gas boilers.
Chief executive points to a ‘Streisand effect’
Greg Jackson, Founder and Chief Executive of Octopus Energy, said: “The BUS grant works. It’s a bit like the Barbra Streisand effect; publicity about threats to heat pumps has driven interest higher than ever.
“With so many stories in the media and online, people have looked into heat pumps and seen just how attractive they can be.
“Fortunately, the government have committed to the grant scheme and so many more families will benefit. Moreover, building the heat pump industry reduces Britain’s reliance on gas for heating – improving our energy security for the long term.
“We look forward to working with government to reduce the barriers and make it easier for even more people to switch away from gas to efficient electric heating.”
Cooling add-on for Cosy heat pumps
The announcement follows the launch of Octopus’s Cosy Cooler. The company describes it as a smart, shredder-sized cooling unit that turns its Cosy heat pump into an air conditioning system.
The Cosy heat pump is built at the company’s factory in Portadown, Northern Ireland. Climate Global News reported earlier on the production of the 10,000th Cosy heat pump there.
Frequently asked questions
How much did heat pump enquiries rise at Octopus Energy in October 2026?
Octopus Energy said heat pump enquiries rose by 58% in October, reaching their highest level since March.
Why did demand for heat pumps increase?
Octopus linked the rise to uncertainty over the future of the Boiler Upgrade Scheme ahead of the Budget. It also pointed to fears of rising gas prices driven by the conflict in Iran.
How many Boiler Upgrade Scheme applications were made in September 2026?
DESNZ figures show 9,738 applications in September 2026, a record high and 30% more than in August. That compares with 4,089 in September 2025, an increase of 138% year on year.
Will the Boiler Upgrade Scheme keep its funding?
Yes. The government has confirmed in the Budget that the scheme will keep its £400 million funding.
Are heat pumps cheaper to run than gas boilers?
Octopus’s fleet performance dashboard, based on October 2026 data, shows that 99% of its Cosy heat pumps are cheaper to run than a gas boiler. The company said they typically cut bills by 25%.
