Homeowners who heat with natural gas got some good news from National Grid the other day. Assuming a normal weather pattern, heating a home with natural gas will cost 5.8 percent less than last winter. Electric rates are also expected to be lower.
According to National Grid estimates, an average household will spend around $507 for 713 therms of national gas between November 1st and March 31st. That’s $31 less than last year. Electric bills should average $6 to $8 less per month for an average household based on 600 kilowatt hours.
National Grid’s estimates are based on forecasts which show that wholesale energy prices are lower than last winter. A word of caution, though: if the weather gets unusually cold this winter, heating costs will rise higher than expected. Let’s hope the El Niño gets its act together!