Apart from the incessant rain Ireland has experienced in the last month, the weather is now turning cold and thoughts are turning to checking fuel supplies. Despite the fact that almost every commodity you can buy in Ireland has dropped in price, oil and gas prices have increased due to world demand and external control of oil prices. Home heating is a huge cost to the Irish householder in recent years where we have had cold wet summers. In 2008, we had snow in October, causing an early rush to the suppliers at a time when oil prices were very high.

This year prices for gas oil (derv) and kerosene are somewhat lower. The recent collapse of the property market in Dubai has also triggered a fall in wholesale price which, if it continues, will shortly be reflected in the consumer price in Ireland. Gas prices have fallen a little, but with  only two players in the market, Bord Gais and Flogas, don’t hold your breath on getting good value.

As of today, Bord Gais was selling at 4.85c per kwh as against Flogas at 4.42c per kwh. The best price per litre of kersone available today was 51.9c and for gas oil 54.4c. Our advice if you are buying oil products, do so now as world prices are likely to rebound.  

You can also get electricity off  Bord Gais and get savings on that of up to 14% compared to ESB – that is the claim of Bord Gais anyway. If you have both gas and electricity,  it could make more financial sense to go with Bord Gais for both fuels depending on usage. Airtricity is now another alternative to the ESB and Bord Gais and it may be worth checking them out. Savings really depend on the domestic activity in the home; whether you are a large family, small family, lots of teenagers, older couple on their own and so on.

Many people have Aga or other brands of ranges in their kitchens which may heat water as well as cook and consideration will have to be made for this when calculating your needs. The anount of people who use the bathroom or shower in a home can be a big factor in the cost heating the home for the year. Solar panels will only heat a small amount of water.

Check around – there is value to be had by doing so.