Plan Ahead: Cold Temperatures & Tight Supply Bring Higher Heating Costs this Winter
The U.S. Energy Information Administration (EIA) released its annualWinter Fuels Outlookon Oct. 12, predicting that heating costs this winter will increase significantly. Natural gas heating in the Northeast is expected to increase by 23%. For households that heat with oil, you can expect to spend 27% more this winter than last.A combination of two factors is driving this winter’s trend: cooler weather and higher prices due to supply constraints.