Home heating costs expected to drop this winter

MINNEAPOLIS (KMSP) - Good news for your wallet! The U.S. Energy Department is predicting lower heating bills this winter compared to last year.  Depending on the type of heat you use, some homeowners could be saving several hundred dollars over the course of this upcoming winter.

Minnesota Commissioner of Commerce Mike Rothman oversees nearly two dozen state regulated industries including energy conservation and efficiency.  He points out the predicted savings is mainly due to forecasts for a milder winter combined with solid supply and lower energy prices.

U.S. Energy Department Predictions

OIL- 25% drop
PROPANE- 18%
ELECTRICITY- 3%
NATURAL GAS- 10%

Predicted Savings

OIL- $459 decline per home
PROPANE-$322
ELECTRICITY-$30
NATURAL GAS-$64

Still, it's early. Last year a similar warmer prediction made in October held true for most of the country but not out East where a record 100 inches of snow buried Boston.

“The end of October is going to be a very important time in terms of determining whether or not we have sufficient propane,” Rothman said.  “There are two factors. One is the fall harvest. We have a very significant demand when the fall harvest occurs.”

Regardless of how much the savings might be, if you have concerns about being able to pay your heat bill, this is is the time to get organized. Minnesota’s Cold Weather Rule kicks in October 15-April 15.  Rothman says this is an ideal time to apply for energy assistance.

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