I have fit a new central heating system, and was considering oil+rads as the simplest and cheapest option (no mains gas). From what I can gather, oil is around 35p a litre at the moment, and is rumoured to be heading towards 50p by the end of the year.
It seems that a heat pump + under floor heating might be a viable alternative despite the larger capital outlay. With a c.o.p of 4:1 , a kwh becomes pretty cheap on Economy 7, and not too bad otherwise. I suppose that even taking the c.o.p with a pinch of salt, and installing economy 7, you might get away with 2p/kWh on average - about half the price of oil?
LGF