01698 282 222 Oil is saving home owners more money
It is a good time to be on heating oil says trade association
Oil using households in Scotland have saved more than £740 on their heating bills over the past three years, enough to pay for a summer holiday.
A typical three bedroom home on oil heating is now spending on average just £690 a year on fuel bills.
That’s over 50 per cent less than when oil prices peaked in 2013 and over £750 less than homes using LPG.
Oil also costs almost £900 less per annum than electric storage heaters and over £300 cheaper than mains gas, according to a new report.
The good news has been welcomed by the 52,000 oil households in Scotland which, with the money they have saved, could afford to buy a new 49 inch, flat screen HD television; a new fridge freezer and washing machine, or enjoy a family summer holiday break.
Malcolm Farrow, from OFTEC, the UK trade body for oil heating, said: “Homes in Scotland who use heating oil are continuing to enjoy the low fuel prices with many seeing their bills halve in the past three years, helping them to make significant savings.
“Despite the slight increase in the price of heating oil over recent weeks, the cost is expected to remain low for the foreseeable future, making oil by far the most cost effective heating option for rural households in Scotland.”
With oil households in Scotland saving hundreds of pounds a year, OFTEC is calling on the government to introduce a nationwide boiler replacement scheme to help people upgrade to a modern, condensing boiler and make even greater financial savings, as well as improve their energy efficiency and reduce carbon emissions.
Malcolm added: “Two thirds of rural homes across the UK are still using old, less efficient boilers and so are missing out on further significant savings on their fuel bills.
“Households which upgrade to a condensing boiler will see both their fuel consumption and carbon emissions reduce by up to 23 per cent. “Therefore, we are calling on the government to provide additional support to households to help them make the change through a boiler replacement scheme.
“While we’re sure many people would prefer to put the extra money they are currently saving towards a summer holiday or luxury purchase, while the price of oil is so low, now is the time to make the investment and upgrade your heating system to reap the rewards both now and in the longer term.”