Energy costs are expected to reach a decade-long high this winter, according to the National Energy Assistance Directors Association. The rising prices will be felt most keenly in homes that relying on natural gas and heating oil. Read on for tips on how you can lower energy costs in your home this winter.
Did You Know?
- The U.S. Energy Department is predicting heating costs will rise 28% for homes relying on natural gas.
- The cost of heating is expected to rise 27% for homes using heating oil.
- Electricity costs are predicted to rise 10%.
Why Are Costs Rising?
- Energy bills are predicted to rise for several reasons, including the following:
- Decreased supply stemming from financial sanctions on Russian oil.
- Rising wholesale gas prices.
- An anticipated colder-than- average winter.
- Lowered energy stores following increased demand during the 2020 and 2021 lockdowns.
How Can I Lower Costs?
Consider these eight tips for lowering your heating costs this winter:
- Check radiators and vents to ensure they’re unobstructed.
- Shut vents and close the doors in rooms you aren’t using.
- Seal areas where heat could escape from your home.
- Replace dirty furnace filters.
- Install a programmable thermostat to automatically lower the temperature when you’re away from home.
- Have a professional inspect your HVAC for leaks.
- Open your curtains during the day to let heat in and close them at night.
- Think about other sources of energy waste (e.g., inefficient light bulbs, a leaky shower head).
For more home guidance tips, visit our TIG Advisors blog today.