FROM THE HILL: Heating U.S. homes with electricity is expected to be more costly this winter, especially when compared with natural gas or heating oil, federal officials estimate.
In projections published this month, the U.S. Energy Information Administration said the average U.S. consumer who relies on electricity to heat their residence will see expenditures rise 4 percent to $1,133 from November through March 2026. During that period, the price of electricity per kilowatt hour is expected to be 5 percent higher overall, the EIA said.
The cost of electricity varies geographically. People in the Northeast will pay an additional 24 cents or more per kilowatt hour — the highest rates in the country — and fork over a total of $1,519 this winter. By comparison, people in the South will pay between 14.68 cents and 15.54 cents per kilowatt hour, for a total of $1,031 over the same period, according to EIA estimates.
Citing U.S. Census information, the EIA said 42 percent of U.S. households are using electricity to heat their living space. Households using other forms of energy, like natural gas, propane, and heating oil, will have better bills, according to the report.
Natural gas prices will rise by 1 to 3 percent this winter, while heating oil and propane are expected to drop in price.
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