SteveC wrote:

We currently have an Oil burning funace heating Hot Water radiant
baseboards. Oil is getting expensive where we live, $0.88 cents per liter.
We are thinking of adding an Electric Furnace to the existing Oil Furnace,
sort of Hybrid system, Just in case I guess. Electicity is $0.09 cents a
KWh, which is not too bad, for now. We always get price hikes though and
could rise. I know that an Electric furnace is 100% Efficient, which is
better then the 80% or so efficiency of the oil furnace.

Wow! You have inexpensive electricity.

Still, a liter of heating oil has about 10.7 KwH of energy.
That makes it, financially, a wash at current prices.