Heating Help

replace hot water oil boiler question

I have what is referred to as a winter/summer oil boiler that makes hot water for radiator room heat in the winter and hot water all year round.  It is dated 1947.  It looks like the burner assembly was replaced about 20 years ago.  I would like to replace it with a more efficient boiler and install a seperate hot water heater.  I have natural gas available in the street but not in my basement.  What are your thoughts on switching to natural gas for both, or stick with oil and get an electric hot water heater? How much more efficeint would a new heater be?  Thanks for your help in advance.

Nat Gas

Hello,
Right now, where i live the equal amount of btu's in oil costs 2.4 times as much as natural gas.
http://www.nh.gov/oep/   (see fuel prices lower right text box)
1000 dollars of natural gas costs 2400 dollars worth of oil.
Potentially a properly installed modulating condensing gas boiler could be 5, 10 or more percent efficient than and oil burner.
Use an indirect water heater for more saving.
Plus modern piping and control methods add more savings.
All together your energy usage might be cut 20-40% and then add in the lower costs for gas and depending n how much you use now, payback might be reasonably soon.
If there was natural gas out in my street i'd switch in seconds.

Peter