Millions of cash-strapped Americans are about to face an unpleasant surprise this winter: their monthly heating bills are set to increase. Recent analysis of national energy data by two institutions has revealed that electricity prices are likely to rise across almost all regions in the United States this winter.
According to an analysis by “This Old House,” a home renovation and remodeling magazine, which utilized data from the U.S. Energy Information Administration, the following 10 states are expected to see the largest increases in electricity costs this winter:
Maryland (increase by $38)
West Virginia (increase by $38)
Alabama (increase by $35)
Virginia (increase by $34)
Connecticut (increase by $33)
Delaware (increase by $32)
Tennessee (increase by $32)
Hawaii (increase by $30)
Kentucky (increase by $30)
South Carolina (increase by $30)
Additionally, personal finance website MoneyGeek’s report, based on data from the National Energy Assistance Directors Association (NEADA), found that households relying on electric heating will face an additional 10% cost this winter.
However, there is some good news for households using natural gas heating. According to “This Old House,” around half of the U.S. households using natural gas for heating should not be significantly affected this winter as natural gas prices remain relatively stable compared to the same period last year.
There is an exception for one region. MoneyGeek predicts that households in the Midwest relying on natural gas heating could see monthly bills increase by $3 to $8.
States expected to see smaller increases in natural gas heating costs include Missouri, Michigan, Minnesota, Illinois, Ohio, Kansas, Indiana, Wisconsin, Nebraska, North Dakota, Iowa, and South Dakota.
The magazine also predicts that natural gas heating costs in all other states are expected to remain the same or even decrease. However, this decrease may only be marginal and does not necessarily mean bills will be significantly lower. Heating costs are still higher in colder climates and for older homes.
The total bills in the Northeastern states are projected to be the highest. It is estimated by “This Old House” that average winter heating costs for homes in Massachusetts and Connecticut exceed $1,000, with Rhode Island, Alaska, and New York following closely behind.
It is not surprising that states in the warmer Southwest such as Nevada, Arizona, and New Mexico typically have lower winter heating costs.
(Reference: Report by “The Hill”)