Forecast: High Heating Bill on the Rise This Winter

Haven’t quite made the move toward sustainable energy? You might face a tough winter—and not just because the air gets nippy. According to the Energy Department, you can expect a high heating bill during this year’s winter season.

The rising cost won’t miss any heating sources either. Propane, gas and electricity will all take a hit, even though temperatures aren’t expected to be outrageously cold.

Brace Yourself for a High Heating Bill

For example, electricity will climb around 5%. Many people in the US, especially in the South, use electricity to heat their homes. Overall, this rise will strike almost 40% of US consumers.

In Northern states, though, most families heat their homes with natural gas. Across the nation, prices for this heating source will surge to 22%.

This number will actually land closer to 30% for the North and could spike to 38% if the winter proves harsher than expected! Natural gas has seen higher average costs within the past few years, rising to a new high last year.

Propane is another source for a high heating bill this year. While the prices have actually fallen from previous years, it will still jump up from last year’s cost. For the Northern US, propane will rise by 21%, continuing its climb to 30% for Midwestern states. Propane users in the mid-US may want to save extra money or look into different sources before they get their outrageously high heating bill.

Last but not least is the price hike of oil. About one quarter of Northeast families use oil to warm their homes. These families will see a 20% jump in oil costs this year along with their need to keep more oil in stock for the cold season.

These cost surges may take a few consumers by surprise. They might remember their low heating bill from last year, a dip unheard of for the previous two decades!

Preparing for High Heating Bills

As long as the winter does actually stay mild, you will probably make it through the blows from your high heating bill. Unfortunately, you can’t rest completely assured in the weather forecasts. Your best strategy is to prepare for the unexpected.

If you can, you could insulate parts of your heating sources, such as the ducts, to keep them working efficiently.

When preparing for the cost of this year’s high heating bill, peek at your usual for the last few winters. Then, you can figure your new bill this year with the percentages we gave. Your expense will vary based upon the type of home you live in.

Of course, if you depend primarily on solar energy, you shouldn’t do much worrying.  Homeowners are locked in at lower energy costs when they install solar panels, so can rest easy knowing they won’t feel the heat of higher power bills.

 

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Palmetto

Palmetto.com

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