Released: November 05, 2007

Rising heating bills spur oil-to-gas switch

Source: Candice Choi, Associated Press [Baltimore Sun] (Free Registration)

NEW YORK - With his furnace sputtering its final gasps, Charles Comito decided it was time to trade in his heating oil system for natural gas this year. The switch cost $4,400, a price he says will be worthwhile in the chilly months ahead.

“It was for the convenience and cost,” said Comito, a 71-year-old resident of Little Egg Harbor, N.J., who lives in a three-bedroom ranch-style home.

With oil topping $90 per barrel, some homeowners are weighing whether the price tag for switching to a natural gas furnace makes sense. The decision may depend on a variety of factors, including the availability of natural gas lines, an issue in the Northeast, where gas pipelines have historically been less common.

Costs vary depending on the size and location of the home, but switching a typical three-bedroom house from heating oil to natural gas might run an average of $5,000 to $6,000. Removal of an oil tank, which some local governments offer rebates for, might run an average of $2,000 additionally.

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