Strategies to Cut Down Winter Heating Costs Amid Rising Energy Prices

As the winter season approaches, Americans are bracing themselves for near-record heating expenses due to persistently high energy prices. According to a report from the National Energy Assistance Directors Association (NEADA), the average cost for heating in the U.S. this winter is projected to be approximately $1,106, which falls just short of the previous winter’s 10-year peak of $1,118. This represents a more than 30% increase compared to the 2019-2020 winter when the average cost was $847.

While customers using natural gas for heating, which accounts for 48% of households, may experience a slight reprieve compared to last winter, other major heating methods, including electric heating (43% of households), propane, and heating oil systems (9% of households), are expected to see price hikes.

Here’s a breakdown of the projected heating costs for October 2023 to March 2024:

– Natural gas: $726 (-7.8% from last winter)
– Electricity: $1,374 (+1.2%)
– Heating Oil: $2,275 (+8.7%)
– Propane: $1,538 (+4.2%)

Households relying on heating oil are expected to face the highest bills this winter, mainly due to concerns about limited petroleum supply and potential cuts from Russia and Saudi Arabia, as reported by NEADA.

However, a separate forecast from the Energy Information Administration (EIA) offers a more optimistic outlook, predicting a 21% decrease in natural gas heating costs from the previous year and a 1% drop in electric heating prices. Nevertheless, the EIA acknowledges that prices may rise in the event of a colder winter.

To help mitigate the impact of rising heating costs, here are some practical tips:

1. Improve Home Efficiency: Seal gaps to prevent cold air from entering and warm air from escaping. Keep windows closed when not in use and consider closing curtains during chilly weather. Winterizing your home by fixing door seals and adding insulation can make a significant difference.

2. Maintain Your HVAC System: Ensure your heating system is operating at its peak efficiency. Replace filters and schedule a tune-up for your heating devices. While professional maintenance comes at a cost, it can lead to savings throughout the winter.

3. Adjust Your Thermostat: Lower the thermostat temperature when you’re away from home or traveling. Most people can comfortably sleep at lower temperatures, and programmable thermostats can automatically adjust the temperature at night to save money.

4. Compare Energy Rates: In states with deregulated natural gas markets, you can shop around for the best rates. Although the gas delivery company remains the same, you may have different supplier options. Contact your utility company to inquire about discounts or other options to reduce your bill.

5. Explore Assistance Programs: State and local governments often offer utility bill assistance to low-income households. Additionally, a federal energy assistance program is administered by states. Benefits.gov can help you find resources in your state.

In summary, taking proactive steps to enhance your home’s energy efficiency, maintain your heating system, and explore cost-saving options can help you reduce your heating bills this winter, even as energy prices continue to rise.