This is not a simple question, with a simple answer, but in principle the answer is "yes" for the vast majority of people - but you have to take care to calculate your answer, and take into account the cost of buying the stove - and installation - in your payback calculation.

If a typical stove medium size costs around £600-£1100 adding in a flue pipe and accessories, liner and then the installation, allowing for any additional building, plastering and redecorating costs, you will not see much change out of another £1000. Therefore, your payback period, to get that money back from fuel cost savings, is likely to be a few years if your house is an average 3 bed semi.

Here's a list of some of the reasons why owning a wood burner can save you a small fortune in heating bills:

Modern wood burners are energy efficient. They typically operate at 70-90% efficiency, meaning for each pound you spend on heating your home between 70 and 90p is converted into heat.

Open fires are only around 20% efficient, the rest of the heat (80p per £!) escapes up the chimney. Switching from an open fire to a stove could save you lots of money on fuel bills.

The best gas boilers produce similar efficiencies as modern wood burners, however the rising cost of energy means that your energy bill could be considerably higher.

According to a 2008 report commissioned by Centrica (owners of British Gas), the average annual domestic gas bill could cost over £1,000 within the next few years.

Wood can be sourced relatively cheaply and easily, saving you £££'s in the long run.

You don't need to pay for a CORGI registered engineer when the fire goes out!

That depends on a several factors such as how much you already spend on your fuel bills and what your initial outlay on a stove is. The bottom line is that you can get hold of wood for burning far more cheaply than you can buy gas, electricity or oil. The higher the price of these fuels, the more compelling the argument is for buying a wood burning stove and start saving money.