How Much More Will Mainers Spend on Heat This Winter? Here Are the Numbers
Everything seems to be expensive these days and as we head into winter, Mainers will once again be paying to heat their home. This season, however,
The U.S. Energy Information Administration released their winter fuels outlook and is saying that retail prices of energy are at or near multi-year highs. Just how high? Are you sitting down?
The report lists percentages of how much more customers will be paying this season for heating oil, natural gas, propane and electricity used to heat their homes. Here's the breakdown:
- Households heating with natural gas will spend 30% more than they spent last winter on average and up to 50% more if the winter is 10% colder-than-average.
- Households that heat with electricity will spend 6% more and 15% more in a colder winter.
- Households that heat with propane will spend 54% more and 94%
more in a colder winter.
- Households that heat with heating oil will spend 43% more and 59% more in a colder winter and 30% more in a warmer winter.
Just my luck. I heat with propane. 54% more is a punch in the gut. Most Mainers use oil to heat their homes, so they are a little less.
How can you save money? If your fuel provider offers a price you can lock in for the season that could be a route you could take next season. I wish I had. It's a little like gambling though. Either you'll save a lot of money if the price spikes or you'll pay way more if it drops sharply.
Also buying a smart thermostat could help save on your heating cost by automatically adjusting your heat for the most fuel efficiency.
Strap in and let's hope for a mild winter to get us through these crazy fuel prices.
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