Energy Department predicts $200 average rise in heating costs

Wednesday, August 13, 2008

From an article by Tom Content in the Milwaukee Journal Sentinel:

The average household in the Midwest will see heating costs jump by more than $200 during the upcoming fall and winter, the federal Energy Department projected Tuesday.

The agency said that homeowners should brace for record home heating bills this winter, as the price of oil and natural gas remain well above levels seen in recent years.

At the same time, the agency said the outlook is much better than a month ago, when the spot price of natural gas was at least 25% higher than it is today.

The market is so volatile that it's tough to make predictions, but it's clear that homeowners should prepare themselves for higher heating bills, said Brian Manthey, a spokesman for We Energies.