What do you think the seasonal efficiency of your boiler is? It's probably less than 50% taking into account standing losses etc. I know this to be the case from heat measurements on commercial boilers. Overall seasonal efficiencies can be much lower, maybe 35%. At this rate oil is 3 times the cost of the raw energy. At 88c/l the raw energy is 8.5c/kWh, add another 5% for boiler servicing and replacement, and you start to look pretty expensive.
Then add the fact that and oil system is far more difficult to control in terms of timing in individual rooms and temperature, and you come to form the opinion that heating with electricity has been a better proposition for quite some time now, at the day rate.
Incidentally I dont rate nite rate storage heating, too much of the heat gets wasted, particularly in houses.
It's more like 60% to 90%, at least thats what Canadians think http://oee.nrcan.gc.ca/residential/pers ... cfm?attr=4
and that is seasonal effiency. So let's say you have this old cast iron boiler and you extract only 6 kWh from liter of oil,that is still 14c/kWh for heat delievered. Oil systems can also be equipped with thermostats and you usually have one already in place, while electricity heating needs investment.
I'm not talking about old cast iron boilers (which are probably in fact much better than most of the crap that makes up our installed base btw), I'm talking about the majority of conventional boilers in place as it stands. For the ones that are more efficient, such as recovery of heat from the flue, this feature may not be even enabled, or set correctly. Any boiler operating efficiently will need regulay maintenance, testing and adjustment.
The fact is that modern boilers I've seen tested have a seasonal efficiency of around 55%, which would be better than your average domestic boiler. This is not postulation from some guy on a blog, or from an ivory tower, it is hard data from the ground
Then add distribution losses in the pipework to get the heat to the place you want it, and losses in storage (such as hot water cylinders) and your overall efficiency drops probably below 40%.
Then add the fact that you cannot control for time and temperature very well even with zoned heating, as you are heating zones rather than rooms, and you will probably end up wasting another 50% of your energy.
Regarding your comment on electrical heaters, you can buy a radiant electrical heater for €10-20, controlled by a timed / thermostat socket. A socket thermostat is €15 and a timer is €5. So there is minimal costs on investment. Separately radiant heat gets projected better than convection heaters (used in wet heating systems) I use an oil filled radiator for the bedroom as obviously lighting is not an option during the night.
We cycle on and of maybe 6 times during the night in one room only. If you tried to use an oil boiler to do that, you can imagine the mount of heat you would waste.
The result is that our heating and hot water bills are €300 / year for a 1300 sq ft detached house, D1 energy rating, without suffering physical discomfort, but we have made window inserts (which prevent radiant heat loss through windows at night time, as even double glazed windows have half the insulating value of an uninsulated wall)