Latest comparison costs collated by the Office of Fair Trading show that electricity is by far the most expensive way to heat a home.

Electric radiators or bar fires cost 19.45p per kilowatt hour, while a storage heater costs 13.19p per kWh.

Gas central heating costs 8.58p.

With 90% thermal efficiency, the cost per useful kWh is 9.53p.

Natural gas tariffs changed on January 1 with the replacement of a banded standing charge with a single rate of 16.9p.

Liquid petroleum gas, which is supplied in Foxdale, Laxey, Lonan, Andreas, Santon, St John’s, Jurby and Ballabeg, is much more expensive with a cost per kWh of 13.15p for a LPG gas fire but a 23.08p cost per useful kWh.

Home heating oil is currently much cheaper at 5.58p per kWh but prices have fluctuated widely over the past decade.

A wood burning stove costs 10.15p kWh but the cost per useful kWh is 12.69p as they are only 80% efficient.

A house coal stove costs 5.88p per kWh, working out at 7.85p per useful kWh.

Air source heat pumps boast a thermal efficiency of up to 300%. These cost 15.04p per kWh to heat a home but the cost per useful kWh is 5.49p.