How a Lundy pellet stove can help you reduce your gas or electric bill
As is widely acknowledged, the UK is facing an energy crisis today as the global market price of gas has surged since the Russian invasion of Ukraine. This event has had a direct effect on both heating and electricity prices in the UK, which is now so dependent on imported gas used for both heating our homes and for generating electricity.
We are often asked about wood pellet prices and how they compare with gas and electric so this article will attempt to shed some light on this subject.
Based on figures published by the House of Commons Library on 23rd Jan 2023, the average domestic fuel costs in the UK are as below;-
- Gas ; 12 pence per kWh
- Air Source Heat pump (at a seasonal Coefficient of Performance of 2 to 1) ; 20 pence per kWh
- Electricity ; 40 pence per kWh
- Wood pellets grade EN Plus A1 at £480/tonne delivered EN Plus ; 10 pence per kWh
So, if you were to use a Lundy wood-pellet stove you should expect to make savings in your fuel costs as below;-
- Gas ; around 20 % saving by switching to a Lundy wood-pellet stove
- Air Source Heat pump ; around 50 % saving by switching to a Lundy wood-pellet stove
- Electricity ; around 75% saving by switching to a Lundy wood-pellet stove
Our crystal ball here at Island Pellet Stoves is probably no better than your own at predicting how the future will affect energy prices, but one maxim which has stood the test of time is “Not to hold all your eggs in the same (energy) basket” and this advice is certainly being followed in the commercial energy marketplace, where it is not uncommon now to find large heating projects use multiple fuel sources such as gas combined with air source heat pumps and also combined with wood-pellets.