Oil heating beats price of all other fuels
New figures released today from the Oil Firing Technical Association (OFTEC) show that oil is currently the cheapest way to heat your home in the UK.
The average yearly cost of heating a three bedroom house using an oil condensing boiler is £884, which is:
- £385 cheaper than Electricity;
- £300 cheaper than Biomass (wood pellets);
- £691 cheaper than LPG condensing;* and
- £48 cheaper than British Gas.
Jeremy Hawksley, Director General of OFTEC, said: “This is excellent news for the 1.4 million householders in the UK who use oil to heat their homes”.
The figures also show that an oil user can save £192 a year just by converting their boiler to a condensing boiler, which is more efficient and releases much less CO2 than a non-condensing boiler.
*Figures taken from the Sutherland Tables May 2009. The Sutherland figures compare running costs and do not include capital costs. LPG running costs include LPG tank rental costs. Condensing boilers equate to Sedbuk A & B ratings.