This is just what I found on the internet from a website promoting electronic thermostats. Not sure if it is legit or not... As an aside, we have a payment plan with our oil co. We pay a set amount each month. Every year we end up +$500 or so over what they estimate our cost to be. We keep it at 65 now with kids and 60-62 at night. 58 when away. Here is what they say...
Try turning down the thermostat 5 to 10 degrees at night, and then turn it up again in the morning when the coffee is brewing. If you can get used to that, you’ll save 5 to 10 percent of your heating bill.
Once common myth is that when you reduce the thermostat for only a few hours it will take more heat to bring your home back up to the desired temperature. This is not so. You will save money and fuel because your heating system will not have to keep your home so warm. You will use less energy overall even when you warm up your house from a cooler temperature
Read more:
10 Tips for the Thermostat: Your Key to Savings | Care2 Healthy & Green Living