This study expands the traditional comparison of the ``futures market vs spot market’’ in electricity procurement to include additional dimensions: the timing of contract signing and the flexibility provided by thermal storage for large-scale heat pumps in district heating systems. Using the example of disruptions to the German electricity market triggered by the 2021–2023 gas crisis, it examines when a heat pump operator should enter into a long-term supply contract and how this decision compares with active participation in the spot market. The analysis combines day-ahead prices, futures settlement data for annual, quarterly, and monthly products, as well as weather-dependent heat demand profiles, to quantify the trade-off between early hedging, finding the right time to buy or relying on fluctuating spot market prices through wind and solar integration.