The answer depends on the rate.
Since the price of oil is at its lowest level over in five years, oil heating is actually less expensive than electric heating, if we take into account that electricity is generally billed at the second tier of Rate D (8.60 ¢/kWh). However, to compare these two sources of energy, it’s important to add the costs for consumption (fuel or electricity) as well as the purchase and maintenance fees of the heating system. Despite the low price of oil, electricity in Québec remains less expensive to heat buildings. Note that electricity prices are much more stable than those of oil, which allows customers who heat with electricity to better plan their heating costs.
If you have a dual-energy system and have Rate DT, it’s best to use electricity to heat your home when the outdoor temperature is above or equal to -12°C or -15°C (depending on where you live), when the lower price applies to electricity used (4.57 ¢/kWh). Heating with oil is however more advantageous below these temperatures, when the higher price of Rate DT applies (26.69 ¢/kWh). With Rate DT, a good use of your dual-energy system will help maximize your savings.