Since 1999, the US Energy Information Administration (EIA) has released a Winter Fuels Outlook report forecasting the expected change in winter heating bills for residential households across the country. This year’s report predicts a higher-than-normal rise in total energy expenses per household due to rising retail energy prices and a slightly colder than average winter.
The forecast expects the second biggest annual increase in heating costs across all fuel types in eight years, only surpassed by 2021, without accounting for inflation.
However, after adjusting for energy inflation rates, the real rate of change for energy costs drops, particularly for propane and electricity, which decreased since last year.
