Heating costs

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Does anyone know a simple formula to judge whether it's cheaper to run the hot water from an immersion heater or from an oil-fired CH boiler? I guess it's cost-effective to use the boiler in winter when the CH is on too, but what about in summer?
 
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Apr 18, 2011
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You need to compare the electricity consumption per x minutes, and multiply that by the time ti takes to reach the required temperature.
 

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