Its a possibility but only if scale/limestone is building up in the bottom, the lower stat pocket which is for the immersion? should be even more scaled if this is true so maybe switch this in overnight or today if not on "economy 7" or whatever its called now and measure the actual tap temperature when it cuts out. How far above the bottom of the cylinder coil is the cylinder coil stat located?, if the circulation through the coil is lowish then there could be a dT of 15C or more between the upper yliner temperature and the bottom. My (PT1000) coil probe is located ~ 1/4 way up the coil bottom and there is ~ 10C dT between the tap temp and the probe temp, tap temp is ~ 68/70C with a SP temp of 60C at the end of the reheat period.