Fighting the credit crunch with fuel efficiency

As the credit crunch hits home, many people will be concerned about the spiralling cost of living. Rising food and fuel prices are all denting our pockets and householders everywhere are feeling the pinch.

 With thousands of homeowners struggling to cope with the economic downturn, the problem is especially troublesome for people in rural areas who rely on oil to heat their homes and have found themselves at the mercy of volatile fuel prices this year.

 But with energy prices rocketing across all sectors, families across the country are squeezing their budgets to get by and saving money is increasingly a top priority for everyone right now.

  Oil Firing Technical Association – the body representing the oil heating and cooking industry across the UK and Ireland-is urging homeowners to think about the efficiency of their heating systems and consider replacing old boilers with a modern condensing model, to help save cash on fuel bills.

 Jeremy Hawksley, Director General at OFTEC said: “For people living in rural areas, the price increases in oil have been challenging. The good news is that we are expecting to see a small drop in oil prices towards the end of the year. However, no matter what fuel you use, a condensing boiler will help you to cut outgoings and fight the credit crunch.”

  Condensing boilers recover as much of the waste heat as possible which in a conventional boilewould normally pass out of the flue into the air r. They are highly efficient. This is why building regulations recently changed to ensure that if you have a new or replacement gas or oil boiler installed in your home, it must be condensing.

  Replacing your old boiler with a modern condensing counterpart will significantly reduce your fuel bills, helping you to cope with inflation. OFTEC believes you could save up to €300 a year if you use oil. A condensing boiler will also dramatically reduce carbon emissions, which is good for the environment. Oil condensing boilers for example have efficiencies of up to 97 per cent.

 Old boilers run at much lower efficiencies, burning more fuel than a condensing model would. If regular repairs are needed this could also be costly and a boiler that isn’t running up to scratch could burn hundreds of pounds a year in wasted fuel.

 Mr Hawksley added: “A condensing boiler offers many benefits including significantly reduced fuel bills in the medium to long term as well as helping the environment. Government grants may also be available to help you make the change.”

 OFTEC operates a Competent Persons Scheme and has over 9,500 registered businesses and technicians throughout the UK and Ireland who are qualified and insured to work in your home. A list of OFTEC registered technicians can be found at www.oftec.org

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