How to save money on your Heating Oil
How to save money on your Heating Oil
With prices rising over the recent years, getting a good deal on your heating oil bill can be tough at times. Here are a few tips on how to save money on your home heating oil.
1. Use a Heating Oil Buying Club
With the growing cost of heating oil it is always in your best interest to shop around for the best price. Oil clubs usually consist from a handful of members to even hundreds in some cases, they use the power of bulk buying to get a better price from oil distribution companies.
Here at My Consortium we handle all the bulk buying end of things for you; so instead of you having to organize a buying club yourself and wait around for other members in your area to be ready for an oil purchase. We have a vast customer base so you can order whenever you are ready to, so no more waiting round for the next order dates. Due to the amounts of orders we process with Oil Distributors we have formed special relationships with them, due to this we get better prices than you would yourself contacting them.
So if you want to save money today, why not give us a call and we’ll pass the power of bulk buying down to you.
2. Make your order in the Summer
As with all markets, the heating oil market is also effected by Supply and Demand, as a result of this oil prices tend to be at their lower prices in the Summer time, when people aren’t tending to use it.
So if you are prepared and order in advance in the Summer you have a good chance of making some significant savings.
3. Service and monitor your tank
To ensure your oil tank is at it’s maximum efficiency it is recommended to have your oil tank serviced every 12 months. It’s a case of having to spend money to save money, but the money you would save by joining a buying group like My Consortium, would probably cover the cost of this.
You will also have to take into account that parts will need replacing year round to make sure it remains energy efficient. The oil nozzle and fuel filters will need to be replaced at least once a year, while the fuel pipe may only need to be replaced every 3 years to avoid oil leaks; all of these parts should be checked every time your boiler is serviced.
For example if you have a leaking oil tank, so make sure to check for leeks regularly, one way of testing this would be to leave a white sheet beneath your oil boiler, than any leaks will be noticed easily.
So overall servicing your boiler regularly will not only maintain your boilers energy efficiency, save you money, but should also keep your boiler living for longer.
4. Be aware of different payment methods
Some Oil Suppliers will charge an extra fee to use credit cards, My Consortium recommend customers use their debit cards to avoid these fees. As an extra 2% on top of a 1000 litre order does not help at times when we need to be saving money.
Monthly Oil Saving Plans are often offered by oil suppliers, you put a little money aside each month, to help cover the cost of your next heating oil bill. My Consortium offers an Oil Savings Account to help with the cost of your oil bills, as we understand it can be difficult to have that sort of money readily available. But by paying into your oil savings account monthly, when your next heating oil order time arrives, we check the balance of your account and purchase the order with that. If there is anything short you can always pay the extra expense with a debit/credit card.
Customers have been finding this method of paying for their heating bills very convenient and efficient. As you do not have to worry about paying out the lump sum in one go. Beware of suppliers charging you more if your saving with them, also if you do it with one supplier you are stuck with them, with My Consortium you have the benefit of shopping around.
5. Keep your oil tank secure
Recently with the rise in cost of kerosene, there has been a rise in the number of heating oil thefts around the UK.
With the cost of replacing/repairing your oil tank being so high, it is always good to have your tank locked away securely and out of sight. There are also oil tank alarms which you can install which monitor the level of oil in your tank, then raise the alarm if any sudden drop in volume is noticed, this could be a leak, theft or fault.
Check whether your insurance covers oil theft too, if so make sure to check the small print about tank security. My Consortium has access to an insurance product that protects both your tank and the contents.
6. Insulation is crucial
Making sure that your home and oil tank pipes are properly insulated is critical in today’s age, making sure this is done correctly and up to standard is a very efficient way of lowering your heating bills, be this by lowering the amount of heating oil needed to warm your home.
For example, the efficiency of your boiler can improve massively if you insulate the tank and it’s pipes, as this way heat isn’t being wasted before it reaches your home. Equally as important would be having loft insulation and cavity wall insulation, these two can dramatically decrease the heating that is lost through the walls and through the roof.
I hope this article has given you some useful information on saving money on your home heating oil bills, here at My Consortium we do our best to get you the savings you deserve. So why not give us a call today and we’ll do our best to save you some money.