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Save Money On Your Home Heating Oil Bill

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With a squeeze on household spending we all want to save money, particularly on our heating bills. The good news is that if you’re an oil heating user, there are lots of things you can do. Here are our top money-saving tips:

Upgrade your boiler

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.

Upgrade your heating controls

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.

Buy your fuel at the right time

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.

Improve your insulation

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.

Source: Oil Save

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