Any idea how to work the cost of electric v oil?
You will need to ask someone who uses oil, for typical costs per Kwh for oil.
But this suggests 4.8p per Kwh in 2020, which is very close to the 5p you pay per Kwh for electric during the night. If oil has gone up, then it might be worth setting your immersion heater to run for the entire off-peak supply period, then completely off during peak.