Energy experts say consumers across America can expect a price spike in Winter utilities. Fall is still in the air, but soon millions will turn heating sources on for the first time. According to the National Energy Assistance Directors Association (NEADA), home heating costs will see a significant increase this winter.
This winter will be especially challenging. All indicators suggest it will be more costly than last year.”
Mark Wolfe, NEADA Executive Director
On average, the spike in winter utilities across the U.S. is expected to increase by 10.5%, with those relying on electricity facing the steepest rise. Electric heating costs could climb to an average of $1,208, reflecting a 13.6% increase.
Colder forecasts for the Northeast and Midwest are partly to blame for this uptick, but inflation and delayed utility grid upgrades are also contributing factors.
“Many utilities have postponed essential upgrades, and now those costs are coming due,” Wolfe explained.
For those using other heating sources, costs are also set to rise. Propane users may see their bills reach around $1,442, up 7.3%. Natural gas users might experience a 7.2% increase, bringing average costs to $644. Meanwhile, heating oil prices are anticipated to rise to $1,963, a 6.1% increase.
“This winter follows a summer of intense heat, leaving many families struggling with leftover cooling bills just as higher heating bills arrive,” Wolfe added.
Combat Price Spike in Winter Utilities
With a price spike in winter utilities predicted, preparation is key. Here are a few tips to help manage your heating expenses on your properties:
- Service Furnaces: Ensure it’s operating efficiently before the cold sets in.
- Seal Windows and Doors: Close any gaps to prevent heat from escaping.
- Maximize Daylight: Open curtains and blinds during sunny hours to naturally warm your space.
- Adjust Thermostats: Gradually reduce the temperature—lowering it from 70°F to 68°F at night can save you about 1% on your bill for each degree lowered.
With a few proactive steps, you can help manage the impact of rising heating costs this winter.
