Cost Of Heating To Be Lower This Winter
Heating bills across the US are expected to be considerably lower this Winter, according to the Energy Information Administration.
Households that rely on natural gas or propane to heat their homes will see cost decreases of 12 percent and 14 percent respectively, compared to last year’s costs, the EIA said in its “Short-Term Energy and Winter Fuels Outlook.”
The decreases translate to an average savings of $105 for natural gas users, $40 for households relying on heating oil, $280 for propane users and $20 for electricity.
Additionally, the report found that households using electricity and heating oil would see a 2 percent drop in costs.
“Inventories of all heating fuels are currently well above levels seen at the start of last winter,” said the EIA.
The prediction comes from lower fuel costs as well as slightly milder weather, compared to last winter.
The report cited a recent projection from the National Oceanic and Atmospheric Administration (NOAA), which found that the Lower-48 States are expected to be 1 percent warmer this winter compared to last year. However, the report warns that these estimates may vary widely between regions.
“For example, the Midwest, a major market for propane and natural gas, is projected to be about 4 percent warmer than last winter, while the West is projected to be about 4 percent colder,” the EIA said.
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