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The winter months are always tough on household costs as it becomes necessary to switch on the heating and inevitably face higher utility bills. In the face of the current cost of living crisis, however, the crush of rising bills this year things will undoubtedly be even tougher.
Moneyzine.com has analysed seven of the most common methods of heating to demonstrate how much individuals could save by opting for cheaper options. The results show quite how expensive bad heating decisions can be…
Large electric radiators could cost over £500 a month
Some large electric radiators can reach up to 1,000 Watts, and at this size, would cost £17.28 per day if left on for 8 hours (for example, overnight). To put that into perspective, that’s over £500 spent on the running costs for one large electric radiator per month.
Over the course of winter, that’s an estimated £1,500 - a huge chunk out of many households' budgets spent on heating.
“The cost of living crisis is heaping unprecedented pressure on thousands of households across Britain as we approach the colder months. While sadly not much can be done to mitigate the cost of heating at the moment, we hope that this data at least informs people on what methods of heating can be the most cost-effective in order to keep energy bills from soaring.”Jonathan Merry, Personal Finance ExpertJonathan Merry
Electric boilers and radiators most expensive
In second place, electric boilers are considered the second most expensive way to heat your home if left on for an average of 8 hours per day.
At a cost of 27p per kWh, electric boilers are one of the most expensive ways to heat a home, despite being one of the most popular alternatives for households with access to a mains central heating.
Likewise, smaller electric radiators (~600W) still drive up costs due to the current cost of electricity. A 600W electric heater left on for 8 hours a day would cost an average of £10.37 per day, translating to over £300 per month.
Electric blankets remain low cost options
Many electric blankets require just 100w of electricity, which means they and hot water bottles cost relatively little in comparison to the more expensive electric options.
Boiling 2 litres of water to fill a standard hot water bottle costs roughly 24p a day, and would last you about the same time as it would to stay warm under an electric blanket.
Even if you have 8 people in the house, it will still be 16 times cheaper (and cosier!) to give them each an electric blanket than to turn on your electric boiler. You could save more than £250 in a month by swapping your electric boiler for an electric blanket.
Over the course of a year, households swapping out their electric boiler for electric blankets could be looking at a saving of up to £3,000 a year.
Costs to Heat Your Home: Daily and Monthly
Below shows the estimated cost of heating your home for 8 hours a day using the following popular methods. As you can see, there are some extreme differences in cost!
Heating Device | Cost per Hour | Cost per Day (assuming in use for 8 hours per day) | Cost per Month | Cost over Winter (3 months) |
Electric boiler | £1.25 | £10 | £300 | £900 |
Gas boiler | £0.37 | £3 | £90 | £270 |
Wood burner | £0.63 | £5.04 | £151.20 | £453.60 |
Electric blanket | £0.21 | £1.73 | £51.90 | £155.70 |
Hot water bottle | £0.06 | £0.48 | £7.20 | £21.60 |
Electric radiator | £1.29 | £10.37 | £311.10 | £933.30 |
Large electric radiator | £2.16 | £17.28 | £518.40 | £1555,20 |
These costs are according to the current UK price cap of electricity of £0.27 per kWh (accurate as of October 2023).
Additional Tips to Maximise Your Heating Efficiency
Switching to more cost-effective heating methods is an excellent first step, but for even greater winter savings, Jonathan Merry, resident personal finance expert at Moneyzine.com, offers these strategies to extend the reach of your heating.
Seal Out Draughts
Invest in practical solutions like draught excluders and thermal-lined curtains. These smart additions will help retain heat in your rooms for longer periods, ultimately reducing the cost of heating.
Applying foam strips to seal gaps around doors and windows can potentially save you £100s in heating costs for a very low-cost upfront investment.
Optimise Your Radiators
Ensure your radiators make the most of your valuable boiler heat. Regularly bleed and clean them to maintain efficiency, and ensure they are not obstructed or covered. These steps will significantly increase the effectiveness of your heating system. Also, remember to only turn on radiators in rooms where they are needed to save energy.
Roof Insulation
If you're willing to make an investment, consider insulating your roof. A substantial amount of heat escapes through the roof, and installing loft insulation in a semi-detached house could potentially save you around several hundred pounds per year on heating expenses.
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