According to the Energy Information Administration (EIA), it’s likely going to cost you more to keep warm this winter.
“On average, EIA expects natural gas bills to rise by 5 percent, home heating oil by 20 percent, and electricity by 3 percent. However, expenditures for homes that use propane are expected to be about the same as last winter,” the EIA reported in its Winter Fuels Outlook.
“EIA forecasts that households heating primarily with electricity will spend an average of $36 (3 percent) more this winter on their electricity bills. This increase in forecast expenditures is a result of 1 percent higher consumption, including both heating and non-heating uses of electricity, and 2 percent higher residential electricity prices than last winter,” EIA said in the report, issued Oct. 10.
EIA also noted that this winter’s mix of energy sources used to generate electricity is slightly different from last season. Winter’s temperatures are expected to be roughly similar to last winter for most of the country, based on the most recent forecast from the National Oceanic and Atmospheric Administration.
Source: Michael Kahn, NRECA