US consumers to pay 28% more for heating in coming winter

The Energy Information Administration (EIA) forecast that US households that primarily use natural gas for space heating will see their heating bill increase 28% this year compared to last year.

In its latest Winter Fuels Outlook published last week, the EIA predicted that US consumers using natural gas for space heating will spend $206 more than last year, paying an average of $931 on heating over the winter period from October to March.

Natural gas is the primary heating fuel for 47% of US homes, the US Census Bureau’s 2021 American Community Survey showed.

According to the EIA, higher retail natural gas prices are the main driver for the expected increase in natural gas bills.

‘We forecast that natural gas spot prices at the US benchmark Henry Hub will increase 54% from last winter to average $7.26 per million British thermal units this winter,’ the agency said, citing colder temperatures and slightly higher household consumption.

• Natural gas is the primary heating fuel