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REPORTER: IT’S BEEN A WARMER THAN NORMAL OCTOBER SO FAR THIS YEAR, SO YOU MAY NOT BE THINNGKI HEATING BILL JUST YET, BUT WITH A NATIONWIDE SPIKE IN PRICE OF NATURAL GAS, WE ENERGIES IS ASKING YOU TO START THINNGKI ABOUT . IT DOESN’T MATTER WHERE YOU LIVE. WE ENERGIES IS ESTIMATING HEATING BILLS WILL GO UPY ABOUT $25 A MONTH THIS WINTER. >> THIS IS SOMETHING THAT UTILITIES ACROSS THE COUNTRYRE A GOGIN WITH, A NATIONWIDE PRICE SPIKE. REPORTER: A SPOKESPERSON WITH THE ENERGY COMPANY SAYS THE PRICE OF NATURAL GAS IS AT A TEN YEAR HIGH AND DOUBLE WHAT IT WAS LAST YEAR. SHE SAYS THERES MORE DEMAND, AND LESS SUPPLY. >> YOU KNOW, A LOT OF BUSINESSES ARE RAMPING UP FROM THE PANDEMIC, SO THEY’RE USING A LOT MONDEMIC, SO THEY’RE USING A LOT RE NATURAL GAS THAN THEY WERE, SAY LAST WINTER. SO THAT’S WHAT’S CAUSINANG INCREASE IN DEMAND, AND THE DECREASE IN SUPPLY, HURRICANE IDA FOR EXAMPLE, IMPACTED PRODUCTION, SO LOTS OF FACRSTO ARE CAUSING THIS. REPORTER WE ENERGIES CALLS NATURAL GAS A PASS-THROUGH UTILITY, WHICH MEANS THEY ARE NOT MAKING ANY MONEY ON ISTH PRICE SPE.IK REPORTING AND DOWNTIME OF WALKING. PATRICK: WE ENERGIES RECOMMENDS LOWERING YOUR THERMOSTAT AT NIGHT OR WHEN YOU LEAVE THE HOUSE, SEAL ANY CRACKS OR GAPS YOU HAVE IN YOUR WINDOWS OR DOORS, AND KEEP YOUR BLINDS ENOP TO LET IN TH

Home heating costs will rise sharply this winter, federal government forecasts

Americans should expect to shell out more money to heat their homes this year — especially if it’s a very cold winter.Compared with last winter, households will spend 54% more for propane, 43% more for home heating oil, 30% more for natural gas and 6% more for electric heating, the U.S. Energy Information Administration said in a new report Wednesday.The EIA expects home heating prices to rise across the country, for all heating fuels and under a variety of weather contingencies.The forecast reflects a spike in energy costs, especially oil and natural gas. U.S. oil prices recently closed above $80 a barrel for the first time since 2014. Natural gas, the most common fuel used to heat homes, has surged to prices unseen since 2008.”As we have moved beyond what we expect to be the deepest part of the pandemic-related economic downturn, growth in energy demand has generally outpaced growth in supply,” EIA Acting Administrator Steve Nalley said in a statement. “These dynamics are raising energy prices around the world.”Energy sticker shock is even more extreme overseas, especially in Europe, where natural gas prices have skyrocketed.The situation is being amplified by forecasts for cooler-than-usual temperatures. The EIA noted that the National Oceanic and Atmospheric Administration expects a slightly colder winter this year than last year — and that in turn will drive up energy consumption.”U.S. households will spend even more if the weather is colder than expected,” the EIA said in its report.Americans are already dealing with sticker shock. Consumer prices increased 5.4% in September from a year ago, a Wednesday government report showed. That marks an acceleration from July and matches the fastest increase since 2008. Energy prices surged nearly 25% over the past year, including a 42% spike in gasoline and a 21% jump in utility gas service.

Americans should expect to shell out more money to heat their homes this year — especially if it’s a very cold winter.

Compared with last winter, households will spend 54% more for propane, 43% more for home heating oil, 30% more for natural gas and 6% more for electric heating, the U.S. Energy Information Administration said in a new report Wednesday.

The EIA expects home heating prices to rise across the country, for all heating fuels and under a variety of weather contingencies.

The forecast reflects a spike in energy costs, especially oil and natural gas. U.S. oil prices recently closed above $80 a barrel for the first time since 2014. Natural gas, the most common fuel used to heat homes, has surged to prices unseen since 2008.

“As we have moved beyond what we expect to be the deepest part of the pandemic-related economic downturn, growth in energy demand has generally outpaced growth in supply,” EIA Acting Administrator Steve Nalley said in a statement. “These dynamics are raising energy prices around the world.”

Energy sticker shock is even more extreme overseas, especially in Europe, where natural gas prices have skyrocketed.

The situation is being amplified by forecasts for cooler-than-usual temperatures. The EIA noted that the National Oceanic and Atmospheric Administration expects a slightly colder winter this year than last year — and that in turn will drive up energy consumption.

“U.S. households will spend even more if the weather is colder than expected,” the EIA said in its report.

Americans are already dealing with sticker shock. Consumer prices increased 5.4% in September from a year ago, a Wednesday government report showed. That marks an acceleration from July and matches the fastest increase since 2008. Energy prices surged nearly 25% over the past year, including a 42% spike in gasoline and a 21% jump in utility gas service.