While most energy prices have increased dramatically in the last four years, the price of oil heating has fallen 23%, making it the cheapest major fuel – which is great news for oil users. However, the price does vary significantly, depending on the time of year, and tends to be cheaper in the summer. Our advice is to get into the habit of monitoring the price on one of the cost comparison websites and take advantage of these seasonal variations. Unlike other energy sources, oil users can shop around for the best deal so, if you have concerns regarding the price which your supplier is quoting, try calling another local supplier to check the best price before you place your order. If you need to spread the cost, check whether your supplier accepts monthly payments by direct debit.Find an oil supplier near you
Independent provider of comparative home heating costs, Sutherland Tables, produce energy comparison reports in January, April, July and October. Here you can see how heating oil compares to most other forms of energy.
The latest report from October 2017 shows home heating costs using Oil have experienced a decrease in all regions this quarter, ranging from 6% – 12% in both existing and newer build dwellings.
Sutherland Tables say: “When compared to last quarter, consumers of Electricity across all UK regions are the losers, as costs have experienced the greatest increase.
Other losers are consumers of LPG in Northern & Southern Ireland.
Once again, Oil consumers in all regions can be considered winners when compared to last quarter.”
Sutherland Tables say “Due to decreases in prices over the past year, home heating costs using oil are now sitting at approximately 16% lower than the 4 year average, for both existing and newer build dwellings in the UK & NI. Figures for Republic of Ireland have now fallen to approximately 29% below the 4 year average.”
Many homes are so draughty and badly insulated that you waste a small fortune trying to keep them warm. Although improving your heating system can help, you may still end up chilly when the weather is bad. By investing in better insulation to your loft and walls, and making other improvements such as double glazing, you can save a lot of money as well as having a warmer, more comfortable home. This is particularly important for older properties which often lack proper insulation and may have solid walls – which really leak heat. It’s also important if you plan to invest in renewable heating because many of these technologies only produce heat at relatively low temperature and won’t run efficiently unless your insulation is good.
Insulation is one of the options included in the government’s Green Deal scheme, which provides a way to fund energy efficiency improvements at minimal upfront cost.Find out more
Oil heating systems combine brilliantly with renewable technologies. By doing this you get the best of both worlds, bringing down the cost of your fuel bills while ensuring you stay warm, whatever the weather. There are several options available and we particularly recommend air source heat pumps and solar thermal as the best to combine with an existing oil heating system. While this is an expensive option in terms of initial outlay, it will give the biggest annual saving but, providing the renewable part of the system is metered, you can expect to receive payments under the Government’s forthcoming Renewable Heat Incentive, which makes this a very attractive option.
Renewable heating systems are among the options included in the government’s Green Deal scheme, which provides a way to fund energy efficiency improvements at minimal upfront cost.
We’ve put together some detailed information about combining oil heating with renewables in our OilGreen section.Find out about the Renewable Heat Incentive
If your oil boiler is more than six years old, replace it with a modern condensing model. This will significantly improve your energy efficiency and save you a lot of money! We calculate that it could save you over £200 a year and it will also dramatically reduce carbon emissions, which is good for the environment. Condensing boilers recover waste heat that normally passes out of the flue into the air in a conventional boiler. Oil condensing boilers have efficiencies of up to 97% while older boilers are typically 60 – 70% efficient. We recommend that you talk through the options with your local OFTEC heating technician and discuss what would work best for you.
Oil condensing boilers are one of the options included in the government’s Energy Company Obligation (ECO) scheme, which provides a way to fund energy efficiency improvements at minimal upfront cost.Find out more about ECO
Accurate system controls save money by reducing heat wastage. Did you know that by reducing room temperature by 1°C, you can save up to 10% off your annual fuel bill? Being able to control the temperature accurately throughout your home means you can concentrate the heat in the rooms you use most and keep the others cooler. It also means you can adjust the temperature in each room quickly and easily. It’s a good idea to improve your heating controls when you buy a new boiler and even more important if you want to combine your oil heating with a renewable energy system. We recommend that you talk through the options with your local OFTEC heating technician and discuss what would work best for you.
System controls are one of the options included in the government’s Green Deal scheme, which provides a way to fund energy efficiency improvements at minimal upfront cost.Find out more about Green Deal