Home Heating Costs Expected to Skyrocket this Winter

With retail prices for energy at or near multiyear highs in the US and a slightly colder than normal winter predicted, Americans should expect to pay significantly more to heat their homes this heating season, according to the US Department of Energy.

The nearly half of US households that heat primarily with natural gas will spend 30% more than last year on average – and up to 50% more if the winter is just 10% colder than average.

The roughly 41% of US household heating primarily with electricity will spend 6% more (15% more if the winter is colder).

The 5% of US households heating primarily with propane will spend 54% — and as much as 94% more in a colder winter.

The 4% of households using oil to heat their homes will spend 43% more – and up to 59% more if the winter is colder.

The expectation of a colder winter is based on forecasts from the National Oceanic and Atmospheric Administration (NOAA). For their outlook, they consider October through March as the heating season.

It’s a good time to talk to your customers about upgrading to a more energy-efficient system. Call us or see your branch manager to explore the many energy-efficient heating and cooling options we have to offer.