Wednesday, October 21, 2015

Heating costs could be lowest in more than a decade

The cost to heat your home this winter could be the lowest in more than a decade. Based on normal winter weather and natural gas prices remaining where they are today on the spot market, we estimate the average residential customers would pay 18 percent less to heat their homes this winter as compared to the winter of 2014-15.

Our projection indicates the average residential customer will pay $489 in winter heating costs between Nov. 1, 2015, and April 30, 2016 – the least expensive winter since 2001-02.

Along with being the lowest-cost heating season in 14 years, the average residential customer would pay:
  • $107 (18%) less than the winter for 2014-2015.
  • $140 (31%) less than the previous 10-year average.
  • $389 (44%) less than the most expensive winter (2007-08).

The calculation to determine normal winter weather is based on the average of daily temperatures during the past 20 winter heating seasons.

Natural gas continues to be the most affordable and reliable home heating option. The abundant supply of natural gas this winter is due in large part to stable domestic production levels.

We use a natural gas purchasing strategy that includes buying and storing a portion of our customers’ natural gas supply during the summer months when prices are traditionally lower.

For additional savings check out our energy-saving ideas such as furnace tune-ups and programmable thermostats on our website.

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