What is the best heating source

I am trying to decide on what is the most cost effective way to heat my house.   At this time the only choices we have for hot water heating & domestic systems is elelctric/pellet or oil.  I have 115 sq meters stone villa in tuscany and because of logistic to the property I can not install a GPL tank.  I am hoping to hear from someone who has any knowlege and or experiance with these two fuel choices   At this time the easiest approach is electric but is electric the most expensive.   If so how much more. I look forward to your help

Castel Focognano has [I believe] mains natural gas [metano] - is there a reason why you don't go for natural gas central heating?

The next cheapest energy source after wood is electricity - as long as it's driving a heat pump that is... so have a word with Badger about fitting a neat box of tricks outside your property... just a couple of pipes and a wire and 'Robert's your fathers' brother'

At the risk of sounding like a scratched record ..firstly insulate and draught proof to the highest standard you can. Then  perhaps a bunch  of solar panels and as Sagraiasolar says the good old heat pump.

It does depend upon whether you are living permanently in the house, or just using it as a holiday home.  I'd suggest that the amount of money you spend depends on this - if its a holiday home it may 'pay' just to go down the 'cheap to install' electric route - but if its permanent it would be well worthwhile choosing something [like a heat pump etc] that costs more to set up