Your Stories Q&A: Will natural gas customers pay more this winter compared to last? - WSYR

Your Stories Q&A: Will natural gas customers pay more this winter compared to last?

SYRACUSE, N.Y. (WSYR) – You ask, we answer!

The Your Stories Team is answering another question about your home heating bill for the upcoming winter.

Recently, the YS Team dug into the cost of heating oil for the upcoming winter.

While the average cost for a gallon of home heating oil is lower this year compared to last, the U.S. Energy Information Administration(EIA) predicts homeowners will actually spend more on home heating oil this winter.

“…We expect the Northeast to have a cooler winter compared with last winter, increasing household consumption of heating oil,” The EIA posted on its website.

Let’s turn our attention to how most New Yorkers heat their homes: Natural gas.

Will natural gas customers pay more this winter compared to last?

It looks like we’ll catch a break.

According to The EIA, more than 50 percent of us in this state use natural gas to heat our homes.

Both the EIA and National Grid predict we’ll pay 18% to 21% less this year compared to last.

“The forecasted year-over-year decrease is attributed to increased domestic natural gas production and supply, and lower demand on the international market,” stated National Grid in October.

According to The EIA, lower natural gas prices will likely mean slightly lower electric bills too.

“Because natural gas is the most common fuel used to generate electricity in the United States, we expect that retail electricity prices will also be down slightly (2%) from last year, as the lower price that power plants pay for natural gas passes through to retail electricity rates,” The EIA posted on its website.

Important note, these forecasts are released in the fall and are based on a typical winter. If we see a much colder winter or if there are other unforeseen economic factors, then you might get a chill when you check your bill this winter.

Have a question for the Your Stories Team?

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