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Information Economics - Costs of Running Heat Pumps and Gas Boilers

Graham Watson

14th May 2024

The Guardian explores here the running costs of heat pumps and argues that, in cost terms, there's currently little to choose between running a heat pump and a conventional gas boiler at present. However, the most efficient heat pumps are cheaper to run, and this is only likely to improve. It's another example of why perfect information is important in helping markets to operate efficiently; many UK consumers aren't fully aware of their benefits/running costs.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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