With the news full of the high oil prices I thought it was about time I did a review of the finances of running our wood pellet boiler for a full year.
As you may have read before, we've tried out a one year contract with Treenergy in Monmouth. Not on our doorstop but the most local supplier of wood pellets that we could find. Not only has the service been great, with pellets delivered at a weeks notice when required and at a time that has suited us, the product is consistently good with no resultant problems with the boiler. Due to the contract we setup we were able to buy the pellets at approximately 22p per kg.
We aren't on mains gas, so if we hadn't gone for the eco option we would've had to go for heating oil. Last year, according to the BoilerJuice website, oil prices averaged around 45p per litre. So with 2.2kg of wood pellets approximately equivalent to a litre of oil, last year saw the cost of our pellets marginally more expensive than using oil. But the satisfaction of saving a load of CO2 more than made up for the difference!
However, if oil prices stay anywhere near where they are at present we'll be saving money hand over fist this year. And with the overall trend for oil prices to keep going up our decision to move to wood pellets is looking like a very wise financial move along with reducing our carbon footprint.
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