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Heating Costs Will Rise, Cold Winter Forecasted

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Winter is coming. Heating costs will increase in double-digit range this winter, thanks largely to colder weather and higher energy costs.

US Energy Information Administration has forecasts that average household expenditures for all major home heating fuels will rise this winter because of expected colder weather and higher energy costs.

Natural gas expenditures are forecast to rise by 12%, while home heating oil by 17%, electricity by 8%, and propane by 18%.

Most of the increase reflects expected colder weather rather than higher energy costs, EIA said.

Meteorology company Accuweather has predicted that the Northeast, Northwest and Rockies will receive above average snowfall conditions in 2017-18 winter.

National Oceanic and Atmospheric Administration has forecast that the coming winter would be 13 percent colder than last winter.

Lower temperatures mean more fuel consumption as households will use more energy to heat up their homes.

According to EIA, nearly half of all U.S. households heat primarily with natural gas. EIA expects households heating primarily with natural gas to spend $69 or 12% more this winter compared with last winter.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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