Oil is the cheapest heating fuel in Great Britain
Figures released today from the Oil Firing Technical Association show that oil is the cheapest way to heat your home in 2009.
Despite the recent fluctuations in the price of oil, it has been the cheapest form of home heating for Great Britain over the last year.
The latest figures from the Sutherland Tables show that the yearly price to run a 3 bedroom house with an oil condensing boiler is £818, whilst Liquid Petroleum Gas (LPG) condensing will cost £1360, electricity £1191 and wood pellets £1175.
Jeremy Hawksley, Director General of OFTEC, commented: “Oil is 39% cheaper than LPG, and 31% cheaper than electricity.”
Heating your home is set to become environmentally friendly with a new bio heating oil. OFTEC and partners have been developing this bio heating oil which can be used in existing oil boilers with a few modifications. The bio heating oil will be 30% bio fuel (FAME) and 70% kerosene; and it will be a cheaper and an easier alternative for oil users than installing other forms of renewable heating. News of the new fuel will be released in early 2010.