Home heating bills may be higher this year
The Energy Information Administration (EIA) is anticipating American households will spend more on heating bills this year compared to 2017.
The EIA’s Winter Fuel Outlook reflects higher heating expenditures are expected this winter (October through March). The report stated that the predicted rise is the result of higher prices for heating fuels, as temperatures are expected to be similar to last winter in much of the country.
Short-term projections of heating demand are based on the most recent temperature forecasts from the National Oceanic and Atmospheric Administration (NOAA), EIA officials said, adding NOAA’s forecast anticipates, the 2018–2019 winter will be one percent colder than last winter, which is close to the average of the previous 10 winters.
EIA officials said the Winter Fuels Outlook includes projections for 10 percent colder and 10 percent warmer scenarios, noting in the past 10 winters, actual temperatures compared with NOAA’s September forecast have been more than 10 percent colder once and more than 10 percent warmer three times.
The choice of primary heating fuel varies considerably by region, according to the Outlook, contributing to regional differences in total expenditures.
Natural gas is the most common space heating fuel in almost every region except the South where electric heating is more prevalent. Heating oil is much more common in the Northeast than in other regions while propane is more common in the Midwest.
