It’s important today in this economic climate to feel like you have control over your money, and to feel confident that you’re making smart investment choices and getting a good deal on the things you buy. So why should heating your home be exempt from any of these things? If you are considering your options when it comes to deciding between home heating oil and natural gas, there are a few reasons why natural gas could cost you more than you think. Read them now, so you have all the information you need before you make a decision.
Manage what you use
You’re aware of how much home heating oil you are using, as you constantly check your tank to see how much is left. If you notice that you’re using a bit more than usual, you can either choose to be a bit more frugal or order more next time so that you benefit from a lower cost per unit. However, with natural gas unless you have a prepaid meter, you just get your bill each quarter – and unless you and everyone else in your household have been restricting your usage, you could be in for a much higher bill than expected – this is one of the main reasons why natural gas could cost you more than you think.
New heating system
If you’re switching from an oil-fired central heating system to a gas one, be prepared to pay for a brand new boiler, which could cost you around €3000. This is because heating systems are set up to be one of the other – home heating oil or natural gas, so you can’t easily change between them without a significant investment. Added to this is the mess and disruption to your house as the work is carried out, as well as the clean up afterwards. If you have a relatively new oil boiler, it would make much more financial sense to keep this, and just get it serviced annually to ensure it stays in good working condition. For more information on boilers available, check out this link.
You depend on natural gas network
When you order home heating oil in Ireland, you get it delivered to your property, and keep it safe in a tank – you don’t rely on any external sources once this happens, so you have your own fuel reserve to use when you want. With natural gas, you are relying on the gas network in your area, so if there are issues with the supply, or unplanned maintenance that disrupts the supply to your home, you are without heating or hot water and there’s nothing you can do about it until supplies are restored.
Increased costs are on the way
Natural gas companies may proclaim that gas is cheaper than oil, but in the long run this is very unlikely to be true, with experts at Forbes predicting that higher natural gas prices are inevitable, and likely to be in effect within the next 12-24 months. This is due to discrepancies between predicted reserves and resources which has led to a declining gas supply. So, if you were thinking of switching from oil to natural gas to save money in the long run, the benefits and gains could be very short lived.