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In a place I live it is not an essential item as household hot water and steam are mostly bought from power stations to which it is a bi-product of making electricity.
Heaters are mostly cottage thing but you can buy a common 100 liter 1.5 kW of Italian make at around $100 online including delivery. I am sure you can find at half that price, of domestic or Chinese brand. There are no government regulations regarding heater efficiency. If you want to save energy it is your choice to buy more expensive heater.