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The future is burning bright for oil

Martyn Bridges, director of marketing and technical support at Worcester, Bosch Group
Martyn Bridges, director of marketing and technical support at Worcester, Bosch Group
Worcester, Bosch Group is urging installers working in off-mains gas areas to stick with oil as the market looks set for a promising time.

While it may have been a turbulent few years for the oil industry, Martyn Bridges, director of marketing and technical support at Worcester, believes that changes in the market will make a positive impact to off-grid homes throughout the UK.

He says: “The fall in oil prices – by around 50% since June 2014 – is a significant one, and one which has been welcomed from all aspects of our day-to-day business. Today, the price of oil sits at around 30-33p per litre, whereas 18 months ago the cost of a litre could be as high as 55p. This saving has been instrumental in helping the market increase year-to-date oil boiler sales by 8-10%.”

Martyn continues: “As the fuel continues to be an attractive choice for those located off-grid, the status of oil boilers is also steady at the moment. The latest Sutherland Associates table, comparing the cost of the most common fuels across a range of standard house types throughout the UK, puts oil as the cheapest heating fuel available – more cost effective than natural gas.

“Similarly for homeowners, it is still significantly cheaper to replace an old oil boiler with a new one than with any other solution, which can also offer up to 15% efficiency gains. So if ever the owners of older oil-fired boilers needed a reason to upgrade their heating systems, then they have a pretty compelling one at present.

“Oil certainly offers a considerable opportunity to installers which extends beyond servicing current systems and fitting new boilers, as when oil systems are changed it is not unusual to see a new tank put in as well – all of which contributes to the buoyancy of the market.”

www.worcester-bosch.co.uk