Summary
The U.S. Energy Information Administration (EIA) reports that heating homes with electricity this winter is expected to cost more than last year, with an average increase of 4% between November 2023 and March 2024. In contrast, costs for heating with natural gas, propane, and oil are predicted to decrease. These estimates are based on the assumption that this winter will be slightly milder than the previous one.
Key Facts
- Electric heating costs for homes in the U.S. may increase by 4% on average this winter.
- Natural gas heating costs are expected to decrease by 1%.
- Propane heating costs are predicted to drop by 9%.
- Heating oil costs are expected to decrease by 8%.
- Electricity is used for heating in 43% of U.S. homes, especially in the South.
- This winter is forecasted to be slightly milder across most regions in the U.S.
- The forecast may change if temperatures are significantly warmer or colder than expected.
- The demand and cost of energy can be influenced by colder temperatures and increased energy use.
