Prices Set to Rise for 2016-2017
You’ve probably heard by now that this year’s winter is predicted to be longer and colder than past winters and according to the U.S. Energy Information Administration, it’s looking like that may be true (especially for those who live east of the Rocky Mountains). In fact, the Northeast is supposed to be 17% colder than last year, says the National Oceanic and Atmospheric Administration.
No matter what type of energy you use, you’ll likely be turning on your heating system more this winter and according to the Energy and Winter Fuels Outlook by the EIA, homeowners who use heating oil will use the most energy (38% more than last year) while homeowners who use electricity will use the least (only 5% more). Those who use propane and natural gas are in the middle of the use bracket, at 26% and 22% more respectively.
While natural gas customers may not be using as much energy as heating oil customers, they’ll unfortunately be coping with the highest energy prices. About half of Americans turn to natural gas during the winter and this year, the cost of it is predicted to be 11% higher than last year (the highest average price in six years).
In an article by npr.org, Jeff Brady says, “Your overall bill will depend on where you live. The agency reports that an entire winter’s worth of natural gas heating for the average home will be $635. In the Northeast it will be nearly $900 [because] pipeline bottlenecks have pushed up prices in the region.”
If you’re looking for a new natural gas heating system, talk to our heating experts. We can help recommend one that’s efficient and helps you save on your winter energy bills.