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EIA Predicts its Own Winter Forecast

The US Energy Information Administration has issued forecasts for the upcoming winter. Among the EIA?s predictions is the fact that American homes that use natural gas for warming will pay substantially less for their heating than last year. The price for heating an average home this coming winter will be approximately $119 ? a drop of 13% from last year. Natural heating rates soared last year, mainly due to the hurricanes that ripped through the country?s Gulf Coast and affected the gas production in the area.

The good news does not affect everyone, however. Households that use home heating oil will actually pay more than last year. The EIA explained that this was due to the fact that last winter was a particularly warm one ? in fact one of the warmest on record ? which meant that consumers paid a lot less for their home heating oil than in previous years. Although this year?s winter is predicted to be a relatively warm one, it will still be 6% colder than last year. The average household will pay $91.00 for home heating oil.

The EIA also predicted that households who used electricity were likely to pay 7% more than last year ? or $58 on average. 30% of families in the United States heat their homes with electricity and most live in the warmer climates of the country. In comparison, most New England homes are warmed with fuel oil.