oil versus gas

P

pb53

Guest
Hello.At present i am on oil fired central heating,which is working fine, but have the chance to change to mains gas.I assume gas is cheaper fuel but are there figures comparing the two so i can see how long it will take to return investment in changeover.
 
I would like to do the same comparison, as oil has got shockingly expensive in the last 2 years.
According the SEAI comparison, the cost of oil in cent/kWH is 8.29c and gas is approx 5c.
Oil and gas change price in response to international fuel prices at different times, so this is only a snapshot, but, it is probably good enough for the moment.

I have a 1800 sq ft 1950s solid block house with attic insulation. I currently use approx 1900litres of oil a year. At current prices this is €1600 a year.
If gas is approx 33% cheaper, this is a saving of €500 a year, which is pretty good.
If gas goes up and the price difference is only 25%, then the saving is €400, which gives us a range.

If the cost of putting in gas central heating is €6K, then the cost will be recouped in between 12 and 18 years. ( If anyone has a more accurate estimate for the cost of putting in gas heating, please let me know).

This is all very approximate, but probably accurate enough to give you an idea of the RoI.

You could try this comparisom using your own oil bills and see what it gives.
 
Huskerdu, you might also qualify for a grant, and get a more efficient boiler which will add to your savings and make the recoupment period even shorter. Gas is just handy too. No deliveries, no interruptions etc.
 
Not sure about what Bord Gais Networks charge for installing meter and pipework as far as the house but replacing oil boiler with gas boiler and upgrading heating controls should be possible for around the €2500 mark.

AFAIK €750 of this is redeemable through a grant from SEAI when carried out by an approved installer.
 

Thanks, That is useful.

I think the €6K figure I had in my head was from what someone I know paid, but included replacement of radiators.
 

I recenty got a new oil burner in to replace an old one - and must say im delighted with the decision. I priced getting a gas hookup - but it was a pretty expensive route - and getting the difference back in 12-18 years is not really a realistic choice for me.

I just want to add that the install was closer to 3300 with 800 back from the grant. The grant was a zero sum game though - as I had to spend more money on the system to be entitled to the grant - I could have got the job done without the grant for 800 euro less!

Having the grant meant i got the controls I wanted and some extra bits like better ventilation and rad controls. So it was worth it to spend the extra to get back the grant money. But dont think like you are saving money with the grant on the install - you will save money in the energy savings down the road by going the grant route.

I also wanted to add that its not like a new Gas system is hugely more efficient to oil either -- a new oil system is also going to be more efficient to the old system - so only the difference in price between what it costs to get oil to the door versus gas is where the savings might be. However, both oil and gas are tied to the price of oil - so when one goes up so does the other.

A good friend was telling me about his fancy new house build and his state of the art heating systems he had installed (underground this and air condensing that)- costing upwards of 30,000 to install (inclusive of all plumbing)... and then he told me the price of his annual heating bill and I was shocked! My oil burner was 25 years old and his fuel/elcetricity bill far surpassed my oil/elec - even on the old system i was using that was 60% efficient compared to my new 98% efficient one.
 
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