@SrSteveOskowski
Many homes have hot water cylinders. If you haven't got a gas boiler, or a multi fuel stove or coal boiler, or it is out of action, then you can heat the water in it using an electrical heating element that is inside the cylinder and called an immersion heater.
The sketch centres round the fact that energy from electricity costs about four times as much as energy from gas, and we surmise that the Irish family are either short of money, or very frugal.
If you had a cylinder that was uninsulated, or had a faulty thermostat (very dangerous) the electric (immersion) element costs about 50p an hour to run. Perhaps the family in the comedy act have one or both of these problems, or even a hot-water leak, which would be wasteful and costly. It could cost a maximum of £84 a week, though this would be rare.
If it is working properly, it heats about 60 litres of water in an hour, and turns itself off when the water is up to temperature.