SYRACUSE, New York (WWNY) – National Grid says it will cost more to heat our homes this winter.
The utility forecasts that natural gas customers will see a 39 percent price hike between November 1 and March 30.
That’s an extra $263 compared to last winter.
National Grid attributes $231 of that increase to higher wholesale supply prices. The rest of the additional cost is due to delivery price increases approved as part of the company’s multi-year rate agreement and other customer bill surcharges.
The numbers are based on current market conditions and the average natural gas customer using 713 therms during the five-month heating season.
When it comes to electricity, customers are expected to pay $22 more than last season. That’s about 5 percent higher and is based on average electricity use of 600 kilowatt-hours per month.
The utility says $11 of that increase is because of higher supply prices; the rest is because of higher delivery prices and other bill surcharges.
National Grid notes bills could go higher due to colder-than-expected temperatures, wholesale energy supply prices, global supply and demand, and energy use.
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