PA Heating Bills Could Drop this Winter
Some PA households might catch a break on heating bills this winter. The EIA STEO predicts many homes across the northeast to spend less on heating this season. This is due to an El Nino winter that may bring mild weather. It also may lower natural gas prices even further. So depending on how you heat your home, you could be in luck!
But it isn’t a guarentee. Electric PTC rates are rising as we head into the New Year. And there’s still the potential for cold snaps and storms to spike PA energy prices. Thankfully, we’re here to explain how to lock in a low PA electric rate and save on your heating bill this winter.
What Is the EIA Predicting for Winter Heating Bills?
The EIA is forecasting that many natural gas and propane households may spend less on their heating bills. Both fuel prices are expected to fall up to 14% compared to last winter. However, homes that use electricity or heating oil will see higher prices. Electric heating is forecast to cost another 4% more than it did last year. And with oil prices skyrocketing, heating oil costs are going up 21%!
But PA gas customers have the chance to save even more. If demand stays low, prices from gas suppliers could fall and beat gas utility PTC rates. So now is the time to keep an eye on natural gas rates. You’ll want to jump on a low price before the New Year, when the gas PTC rates change again!
But if you heat your home with electricity, we have some good news. Be ready to grab a low rate before December 1st. That’s because PECO, DLC, and all First Energy utilities will likely raise their PTC rates. PPL has not yet announced but it seems likely to follow.
Snap Up a Cool Rate this Winter
A warmer winter and lower natural gas prices may help some spend less on heating this winter. But winter weather is unpredictable. The only real way to guarantee savings on your heating bill is to snap up a fixed-rate energy plan.
Thankfully, shopping with PA Energy Ratings the find the best energy supplier is easy. Plus, you can compare rates, read reviews, and learn more. Just visit https://www.paenergyratings.com.