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Household Heating Costs Are Predicted to Be Lower This Year

Industry News

Heating Costs Drop PicIt seems like everything in life gets more and more expensive, including heating your home. For once, there’s good news! Compared to the past couple of winters, most households across the United States can expect to enjoy LOWER heating costs this winter. One of the primary reasons for this reduction in price is the strong El Nino phenomenon bringing in warmer temperatures. Combine that with unusually low fuel prices and you’ve got significant savings! The heating and cooling team at Jeremy Services wanted to pass on this good news.

What Kind of Savings Can Homeowners Expect?

Oil prices are lower than they’ve been in a decade. What does that mean for homeowners? Heating fuel choices vary and typically differ based on the region, and its costs. Natural gas is the typical heating fuel used by homes except for areas in the South (there they use electric heating to warm their homes). Based on the crude oil price decline and an increase in inventory, falling energy prices will mean most households will see lower than average costs for their utility bills.

Per the Energy Information Administration (EIA) Winter Fuel Outlook, the average dwelling costs to heat with natural gas total approximately $570 this season. This is a $60 decline from the past year. Homes that heat using propane can expect to pay $1,300. That’s a savings of nearly $450. For those heating with electric, expect to pay $900 on average for your household, with a savings average of $30.

What Kind of Weather Is El Nino Bringing?

Areas in the Midwest, Northeast, and South are expected to be between 8 and 13 percent warmer than normal, based on reports from the National Oceanic and Atmospheric Administration. Last winter, the West enjoyed a warmer than normal winter. However, temperatures this season are expected to be 12 percent cooler. So while it varies in different areas, it looks like the Kansas City area will be warmer.

Tips for Maximizing Your Savings

As a homeowner, you’re probably looking to conserve energy and keep your utility costs down regardless of the good news this year. Here are a number of measures that you can take conserve energy:

  • Switch to a programmable thermostat
  • Seal cracks and leaks around doors and windows
  • When not in use, close the fireplace flue
  • Get a furnace tune-up

If you’d like more information about heating and cooling your home, call Jeremy Services at (913) 375-0070.