Dec 28, 2021
As a part of the recovering economy the producers have increased supply, which is being seen as the biggest reason for this winter’s soaring heating bill that in turn affect the consumers rate.
48% of the primary fuel used for heating is Natural gas. Since half of the U.S. households use it for heat, they have now been witnessing a climb in heating bills this winter. An average of $746 was seen to be the bill, this winter in 2021 which is 30% more compared to the last year. This could be the most expensive winter for homes using natural-gas since 2008-2009. Electricity being about 41%, is the second most used heating source, that saw a 6% increase to $1,268 while the heating oil’s wholesale price has doubled in the last 12 months.
Kea.coop says that on an annual basis, the average usage for all residential consumers is 602 kWh per month. The summer average is 505 kWh (or approximately $78 for an average monthly bill). The winter average is 706 kWh — over 200 kWh more than in the summer. The average winter bill works out to be about $105. The heating costs at home will go up as the fuel prices and the fuel demand have increased. As a part of the recovering economy the producers have increased supply, which is being the biggest reason for this winter’s higher heating bill.
According to the EIA, that bills would be 50% higher if the winter was 10% colder than average and 22% higher if the winter was 10% warmer than average. This increase in the energy prices is the latest example to comprehend the inflation that is growing with the reboot of the global economy since the pandemic.
What can we do to be prepared? First thing to do would be to make sure the home heating system is operating at an optimum level as improper installation can lead to an increase of energy use by upto 30%. Properly insulating and air sealing homes go a long way. Keeping the thermostat between 18°C and 20°C as the lower the degree can save upto 10% of energy.
Last but not the least, investing in an energy efficient device like Force, helps you reduce your power consumption by 5 - 15% and save your electricity bill up to 10-20%. Browse through our website for more information.