Electricity and home heating costs will spike this winter
According to the US Department of Energy's Energy Information Administration, homeowners should expect electricity and heating prices to increase from last year. The following projections are for expected costs for Oct. 2022 to Mar. 2023:
- Natural gas: $931 (28% increase)
- Heating oil: $2,354 (27% increase)
- Electricity: $1,359 (10% increase)
- Propane: $1,668 (5% increase)
Be prepared to put more of your household budget towards utilities.
As a result of these increases, many families will be facing unaffordable home energy prices in the months ahead. So what can you do if you need assistance paying your utility bills this year? Find out in the tips & tricks section below.
If you need assistance paying your heating bills this winter, check if you are eligible for the Low Income Home Energy Assistance Program (LIHEAP). LIHEAP helps eligible, low-income households with their heating and cooling energy costs, bill payment assistance, crisis assistance, weatherization and energy-related home repairs. To find the services available in your area, click on your state below