Winter heating costs expected to drop - WNEM TV 5

Winter heating costs expected to drop

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Winter is on its way.

And as we get ready to crank up the furnace, we might not have to pay as much to heat our homes.

Barry Playford is with Central Michigan Propane.

"Been a very mild fall. So heating costs should be pretty reasonable," Playford said.

He remembers when propane prices skyrocketed two years ago. And said he's not worried about that happening again this year.

"That was one of the coldest winters we had it was cold all the way down through the states a large amount of propane was being used and there really was a problem with not enough supply," Playford said.

Not only will the warmer weather help lower bills, but Playford said there's a much larger supply.

"The inventory is very high and the pricing is very reasonable so this is a very good year for home heating in regards to price," Playford said.

According to the Energy Information Administration:

  • Heating oil bills are expected to drop by nearly 25 percent.
  • Natural gas bills are expected to drop 10 percent.
  • Propane users could see an 18 percent decrease.
  • Electricity bills are also expected to go down by about 3 percent.

Playford said world events or a colder than predicted winter could impact home heating costs, but for now the expectations are looking more affordable.

"There’s a lot of inventory in the marketplace and that keeps the pricing low at this time," Playford said.

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