Also there is now very little difference between the price of heating an average three bedroom home with oil, electricity or wood pellets.
The results coincide with news from the Department of Energy and Climate Change (DECC) that the number of fuel poor households in the UK fell to 4.75m in 2010 from 5.5m in 2009. Improvements in efficiency enabled householders to heat their homes using less energy.
Commenting on the figures, OFTEC director general Jeremy Hawksley said: “Oil is still one of the most competitive fuels for off gas main properties in rural areas, and it’s reassuring that the move towards condensing boilers has helped contribute to a reduction in fuel poverty.”
LPG remains the most expensive fuel for off gas main customers, costing £1929 per annum to provide heating and hot water for an average three-bedroom home compared to £1408 with oil. In 2008 oil was 19% cheaper than LPG, whereas it is now 27% cheaper.