Heating bills set to climb as millions endure bitter cold from winter storm
Heating bills are expected to rise again this winter, especially for those who warm their homes with electricity.
Heating bills are expected to rise again this winter, especially for those who warm their homes with electricity.
U.S. home heating costs are projected to climb 8.7% to an average of $941 for the season, according to the National Energy Assistance Directors Association, which represents state administrators of federal utility aid to low-income households.
The group said that’s largely due to the continued run-up in electricity prices coupled with forecasts for colder weather in the Midwest and Northeast. Already, parts of both regions are gripped by a winter storm that has killed at least four people, disrupted travel and knocked out power for hundreds of thousands of households.
People who heat their homes with electricity, rather than other common energy sources like natural gas, heating oil or propane, could see the biggest increases. Their bills are expected to swell by 14.2% to an average of $1,189, up from $1,040 last winter, NEADA said last month. Federal data shows electricity costs were up 3.1% in the 12-month period ending in November, higher than the overall 2.7% inflation rate.
“Families who just finished paying for record-high electric bills because of the extreme summer temperatures are now facing higher winter bills as well,” NEADA Executive Director Mark Wolfe said. “They’re getting hit on both sides.”
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