The following influence the calculation of the cost of running an oil-filled radiator. It includes the size or wattage of the radiator heater, the cost of electricity in your area, and how long the radiator is used. In general, oil-filled radiator heaters are supposed to be energy efficient and cost-effective in eco-mode, but you must be conscious of the cost of running your oil-filled radiator when operated consistently.
We need two key figures to begin estimating the cost of running an oil-filled radiator. One you must know the model’s wattage. This information is frequently found on the oil-filled radiator or in the manufacturer’s specifications. The wattage of the heater determines how much electricity it needs to function, and the higher the wattage, the more pricey it will be to run. Secondly, the current power KWh tariff rates can be acquired from your electricity bill, the government’s website, or your local newspaper.
How Much Does It Cost to Run an Oil-Filled Radiator?
An oil-filled heater, like other forms of heating appliances, has a cost to operate. You must first purchase them and then pay for their function by paying your electric bill.
Measure The Cost of Electricity to Run an Oil Filled Radiator
The cost of electricity varies depending on the location and provider.
According to www.gov.uk, the current electricity kWh rates are these:
- 17pence/ kWh of electricity and 4.2p/ kWh of gas between October and December 2022.
- 31.8pence/ kWh of electricity and 6.4p/ kWh of gas for January to March 2023
This is the official UK government pricing for this year and next. We can use this data to calculate the cost of operating an oil-filled radiator in your home.
Calculate Your Oil-Filled Radiator Running Cost
We use the following formula to calculate your power consumption to determine how much it costs to run an oil-filled radiator in the UK.
Cost to run the heater = (wattage of the heater x cost of electricity per kWh) x number of hours the heater is used
For Example, if you have a 1000-watt oil-filled radiator and the current cost of electricity is 31.8 pence per kWh, and you use the heater for 8 hours per day, the cost to run the heater would be £2.55.
- Cost to run the heater = (1kW x 31.8p) x 8 hours
- Cost to run the heater = (31.8) x 8
- Cost to run the heater = 255p (implies; 100p = £1)
- Cost to run the heater = is £2.55
This figure rises to £7.65 for 24 hours of use, then to £53.55 for a week, and finally £229.5 for a month.
If we were going to run a 1.5kW radiator, we would multiply that wattage by 8 hours, such as; 1.5 x 8, to get 12 kWh. Then to find the cost, we’ll multiply the value by the current electricity rate.
Calculation: 12 x 31.8p/kWh = £3.81
When we expand our calculations, this cost rises to £11.43 for 24 hours, £80 for a week, and £343 for a 30-day usage.
Oil Filled Radiators Running Cost in a Day (24 Hours)
These figures are much simpler to understand when it comes to identifying the most popular types of oil-filled radiators’ power usage per day (24 hours):
500W Model Costs: (500W oil filled radiator x 31.8) x 24 hours = £3.82
1000W Model Costs: (1kW x 31.8) x 24 hours = £7.63
1500W Model Costs: (1.5kW x 31.8) x 24 hours = £11.45
2000W Model Costs: (2kW x 31.8) x 24 hours = £15.27
3000W Model Costs: (3kW x 31.8) x 24 hours = £22.90
4000W Model Costs: (4kW x 31.8) x 24 hours = £30.52
5000W Model Costs: (5kW x 31.8) x 24 hours = £38.16
10,000W Model Costs: (10kW x 31.8) x 24 hours = £76.32
Factors That Affect the Cost of Running an Oil-Filled Radiator
Several factors can affect the cost of running an oil-filled radiator, including:
The Size and Wattage of the Radiator
As mentioned above, the wattage of the radiator determines how much electricity it uses. Larger radiators and those with higher wattages will use more electricity and, therefore, cost more to run.
The Cost of Electricity
It is a well-known truth that the cost of power varies based on region and supplier. Heating bills will be greater if you reside in a region with high power prices.
Are oil-filled radiators cheap?
Oil-filled radiators are less expensive to purchase than gas-powered heaters, but they are more expensive to operate than natural gas heaters. They also cost more to operate than a fan heater. If you need expert advice, get a lower wattage model and set it to economy mode; you’ll save half the money. Thank me later.