HMG's boiler scrappage scheme, offering £400 discount against the cost of old and inefficient boilers, starts today.
Should I be tempted?
I have an old (28 years) Worcester Heatslave 2+ boiler, that is highly reliable, and relatively cheap to service. (<£100 p.a.)
My gas bill is about £600 p.a., and boiler efficiency (output to water) is about 70%, which I have recently checked and confirmed.
Assuming a new boiler gives me 90% efficiency, this would equate to a saving in gas cost of about £120 p.a.
A recent quote for a new boiler and install was £4,000. Assuming writing the new boiler off linearly over 15 years, I get the following rough discounted cost p.a.: (Boiler cost now £3,600, with scrappage)
Annual boiler write-off in value: £240
Annual service charge: £100
Cost of initial capital, say at 4%: £145
Fault repair, when out of warranty; say: £50
Cost of ownerhship, less gas: £535 p.a.
Cost of gas: £480
Total: £1,015 p.a.
Cost of running my old boiler: £700
Clearly a no-brainer. I keep my present boiler until it fails, or the price of gas goes through the roof!
Regards, George
Should I be tempted?
I have an old (28 years) Worcester Heatslave 2+ boiler, that is highly reliable, and relatively cheap to service. (<£100 p.a.)
My gas bill is about £600 p.a., and boiler efficiency (output to water) is about 70%, which I have recently checked and confirmed.
Assuming a new boiler gives me 90% efficiency, this would equate to a saving in gas cost of about £120 p.a.
A recent quote for a new boiler and install was £4,000. Assuming writing the new boiler off linearly over 15 years, I get the following rough discounted cost p.a.: (Boiler cost now £3,600, with scrappage)
Annual boiler write-off in value: £240
Annual service charge: £100
Cost of initial capital, say at 4%: £145
Fault repair, when out of warranty; say: £50
Cost of ownerhship, less gas: £535 p.a.
Cost of gas: £480
Total: £1,015 p.a.
Cost of running my old boiler: £700
Clearly a no-brainer. I keep my present boiler until it fails, or the price of gas goes through the roof!
Regards, George