Heating and Electric Bills Expected to Skyrocket This Winter as Natural Gas Prices Soar

Sharee B.

The country has experienced a cold snap these past few days as temperatures have remained in the 40's and 50's around many states. As the Fall season transitions to Winter, heat, and electricity will be in high demand.

According to the U.S. Energy Information Administration, coal production has increased in the last couple of months. This comes as coal storage reserves have reached their lowest amount in the past twenty years.

As residents brace for the upcoming Winter season, heating and electric bills are expected to be upwards of 30% higher through the Spring than the same time one year ago.

Last February electricity costs topped $900 per kilowatt-hour during an unprecedented storm earlier in the year, that left hundreds of thousands in the dark, and caused immense flooding in some areas

Heating and cooling experts have offered the following tips when it comes to winterizing your home:

  • Apply plastic to windows to trap heat inside
  • Place door covers under doors to keep drafts out
  • Program your thermostat to a set temperatue each day
  • Flush out your water heater to remoce sediment

Many companies that supply electricity and gas to millions of homes in all fifty states have instituted weather moratoriums. These regulations require utility providers to keep services running if the temperatures are deemed unsafe or a threat to human survival.

For now residents can get ahead of these costs by creating a budget, applying for the LIHEAP program with your local provider, or switching heating methods where allowed.

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