Even with the flue closed all the way, there will be something of a draft. This handy device is great It magnetically attaches to the fireplace to block the draft. It's heat resistant and designed to be used with embers in the fireplace, so you don't freeze while the flue is still open and you're waiting for them to go out completely. We immediately noticed the room to be much more comfortably warm when the fireplace wasn't in use.
I use mine on the gas fireplace, which no matter how hard I try, always has a draft from the flue. I purchased mine in the fall so have not used it in the summertime yet, but one reviewer points out that the pilot light must stay on to keep wasps out, and this does generate some heat, and so it would make sense that this should also save on cooling costs.
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One other thing I like about this product is that its not particularly ugly. It attaches with strong magnets so there is nothing to install and it's not incredibly obtrusive and it's very easy to move when using the fireplace. Some reviewers complain it doesn't stick so I advise making sure your fireplace is magnetic by testing it with another magnet first. If a refrigerator magnet sticks, then this should work. It does come in various sizes, so if you click this link be sure to measure your doors first and choose the one that is the proper size for your fireplace.