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US association forecasts 10-year high for heating bills this winter

The National Energy Assistance Directors Association data predicts lower-income families could fall behind
Energy Costs Winter Outlook
Posted at 9:38 PM, Sep 26, 2022
and last updated 2022-09-26 21:38:32-04

Heating costs are expected to rise historically this winter to levels not seen in at least ten years, according to data from the National Energy Assistance Directors Association (NEADA).

A NEADA report said costs are expected to rise above $1,200 in the 2022-2023 colder months, jumping up from $1,025 from 2021-2022.

The association is mainly focused on lower-income families who are at particular risk of falling behind on energy bills after choosing to pay for medicine, food, and other essentials.

NEADA Executive Director Mark Wolfe said Congress has been asked to increase the budget for the Low-Income Home Energy Assistance Program by $5 billion. The program helps to cover the cost of heating and cooling in homes.

Cooling is important with frequent heatwaves hitting parts of the U.S. in recent years.

Wolf said, "We expected at the beginning of this year for prices to be going up because of the increased demand."

Natural gas prices are up by over 34%, propane is up by more than 15%, and home heating oil prices have gone up by 12.8%. Electricity is up by 7%.

Russia's invasion of Ukraine coupled with inflation have both contributed to the elevated energy prices.