How to Save Money on Your Heating Oil
October 28, 2019
< Back to our News
November 12, 2018
Post by: Marie Greewood
Because the price of heating oil has risen exponentially in the last couple of years, more and more homeowners in UK are looking for new innovative ways to save more money on their utility bills, especially during the winter. If you have paid hundreds of pounds last winter heating your home, it is time to consider saving more money this coming winter. By following these tips, you can save up to £100 on your monthly bill.
1. Buy the Heating Oil Earlier. This is probably the most important aspect when it comes to cutting down your fuel bills and overall heating expenses. Because there are several factors which contribute to the oil's price variation in UK, you need to conduct a thorough research in order to be able to distinguish the best time to buy heating oil. Usually, specialists have concluded that the best time to stock up with oil is in the early autumn, during September and the beginning of October. Remember to order as much fuel as you can because you don't want to run off of it in the middle of January, when temperatures fall below 0 degrees.
2. Turn Your Thermostat Down. By turning it down by just 1 degree you will be able to reduce your fuel bills with over 10%. Moreover, ensure that the thermostat is accurate. Ask a qualified OFTEC engineer to examine your oil fired boiler in order to adjust the thermostat setting if you think that the temperature in your room is not acceptable.
3. Insulate Your Home. If your home is not insulated according to the standards, the heat will be lost faster and consequently you will pay more on your bill. Insulation is a great way to keep the heat in and cold out or viceversa, so make the most out of it if you want to save more money this coming winter. Remember that cavity wall insulation can retain up to 35% more heat, helping you save an extra £30 each month on your fuel bill.
4. Buy a Modern and Better Boiler. Sometimes it is time for a change. In order to significantly improve the boiler operating costs and to save more money on your fuel bill, invest in a new and more performant oil-fired boiler. Modern boilers are more energy efficient than old boilers and have a lower risk of failure.
5. Keep Away From Direct Debit. Even if some direct debit schemes could prove quite helpful because they allow you to spread the cost of home heating oil across a 12-month period, they could prove more costly on a longer period of time. You will notice that paying in advance can save you a lot on the long run, so be careful where you invest your money in.
6. Use Your Kitchen More. Lastly, if no other method works or you simply don't want to insulate your home or you can't or don't want to turn down your thermostat, there is one thing you can do: allow the heat from your kitchen to escape into the whole house. After cooking a meal in the oven, keep the oven door open and you will soon notice an increase of the air temperature in your home.