Heating oil – a year as the cheapest form of energy

Energy costs to heat a 3-bed home over 12 months
Energy costs to heat a 3-bed home over 12 months
Sutherland Tables, the independent provider of comparative home heating costs, has confirmed that oil has been the cheapest fuel for home heating for the past year.

Welcoming the news that heating oil has been the cheapest form of energy for 12 months on the run, chief executive Mark Askew commented:

“The average annual heating costs for heating oil users have fallen every quarter for the last three years and since April 2015 the price of domestic heating oil has fallen by 36%.

The latest figures show that heating a typical three bedroom home on oil, using a condensing boiler is now just £690 per annum. Even with a conventional boiler, that’s nearly half the cost of the nearest alternative.  If you use LPG the average cost is £1448 per annum, electricity is £1588 per annum and traditional gas heating £1007 per annum. This means that an oil condensing boiler is also substantially cheaper to run than any renewable heating option with wood pellets costing £1388 per annum and air source heat pump radiators £1447 per annum.”

The FPS, which recently launched 10 top summer tips to help homeowners get the best out of their heating systems and save more money, has also written to all rural MPs urging them to spread the top tips message.

“There are 1.25 million off grid mainly rural homeowners who can save more money on their energy costs and be better prepared for winter,” explained Mark.

“We’re also urging energy minister Amber Rudd to consider more affordable measures to help off grid households cut energy costs and become greener in the process including the rolling out a boiler scrappage scheme, similar to the one launched in London earlier this year.”