Feel that fall chill in the air? Well, brace yourself – heating your home is about to get more expensive.
This winter, average U.S. heating bills are expected to rise 7.6 percent to nearly $1,000, according to the National Energy Assistance Directors Association.
Households that heat with electricity will see the biggest jump – rising more than 10 percent to $1,205. Natural gas bills are also expected to climb to $693, roughly an 8 percent increase. Prices are up due to higher electricity and gas costs, plus growing demand from data centers. Heating oil and propane users may see small drops.
The financial squeeze is already real: about 1 in 6 households are behind on utility bills, and the total owed has jumped 31 percent – from $17.5 billion to $23 billion since 2023. Federal assistance, including the Low Income Home Energy Assistance Program, is shrinking, leaving struggling families with little help.
With bills climbing, aid limited, and a colder winter ahead, energy insecurity is set to worsen – especially for households relying on electricity to stay warm.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.
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