Here’s How Much Power Bills Could Rise This Winter

Winter fuel costs for many Americans could surge 28% this year from a combination of colder weather and higher energy prices.

According to the most recent winter fuels outlook from the Energy Information Administration, the average household primarily using natural gas for space heating will spend $931 on power from October to March, marking a $206 increase since last year.

“Higher forecast energy expenditures are the result of higher fuel prices, combined with higher heating demand because of a forecast of slightly colder weather than last winter,” the agency explained. “On average, we expect wholesale commodity natural gas prices to be higher this winter compared with last winter, which leads to higher prices for both natural gas and electricity in the retail market.”