Opinion

Winter Heating Costs Likely to be Higher This Winter Than Last Winter


graph of heating degree days and average winter household expenditures for heating fuels, as explained in the article text

Source: U.S. Energy Information Administration, Short-Term Energy Outlook, Winter Fuels Outlook, October 2017
Note: Propane price is the weighted average of Midwest and Northeast prices. All other fuels reflect national averages.

Most U.S. households can expect higher heating expenditures this winter (October through March) than the last two winters according to EIA's Winter Fuels Outlook, which will be released at 11:00 a.m. today. Higher expected winter heating expenditures are the result of both more heating demand because of relatively colder weather and, to a lesser extent, higher fuel prices.

EIA's projections of heating demand are based on the most recent temperature forecasts from the National Oceanic and Atmospheric Administration (NOAA). NOAA's forecast anticipates that winter weather will be 13% colder than last winter and closer to the average of the previous 10 winters.

Because weather patterns present great uncertainty to winter energy forecasts, EIA's Winter Fuels Outlook includes projections for 10% colder and 10% warmer scenarios. In the past 10 winters, actual temperatures have been more than 10% colder than NOAA's September forecast once and warmer than the forecast twice.

graph of U.S. total heating degree days in winter months, as explained in the article text
Source: U.S. Energy Information Administration, Short-Term Energy Outlook, Winter Fuels Outlook, October 2017

The average household winter heating fuel expenditures in EIA's forecast provide a broad guide to expected heating expenditures. Fuel expenditures for any household also depend on the size and energy efficiency of the home and its heating equipment, indoor temperature preferences, and local weather conditions.

The choice of primary heating fuel varies considerably by region, resulting in regional differences in total expenditures. Natural gas is the most common space heating fuel in every region except the South, where electric heating is more prevalent. Heating oil is much more common in the Northeast than in other regions, while propane is more common in the Midwest.

map of primary home heating fuel by state, as explained in the article text
Source: U.S. Energy Information Administration, based on Census Bureau American Community Survey 2016

More information about EIA's expectations of winter fuels prices and expenditures is available in the Short-Term Energy Outlook supplement on winter fuels, released at 11:00 a.m. today.

The National Association of State Energy Officials (NASEO) and EIA will host a 2017–2018 Winter Energy Outlook Webinar this morning from 11:00 a.m. to 1:00 p.m. Eastern Time. The webinar will address global oil supply uncertainty and the effects of projected winter weather on the demand for heating fuels and key transportation fuels.

Graph of U.S. average household winter natural gas, as described in the article text

Source: U.S. Energy Information Administration, Short-Term Energy Outlook, Winter Fuels Outlook, October 2017
Note: Winter covers the period October 1 through March 31.

Principal contributor: Stacy MacIntyre


Visit source site

https://eia.gov/todayinenergy/detail.php?id=33272&...

EIAUnited StatesHeating CostsWinterMidwestNortheast

More items from oilvoice


Over $9.9bn in Capex Will be Spent by Qatar-Focused Operators on Gas Projects to 2021, Says GlobalData

Over $9.9bn in capital expenditure (capex) will be spent by Qatar-focused operators on gas projects between 2018 and 2021 to ensure that country's production will remain around 18.1 billion cubic feet per day (bcfd) in 2021, according to GlobalData , a leading data and analytics company. Qatar ...

OilVoice Press - OilVoice


Posted 5 hours agoOpinion > QATARgasGlobalData +3

Uganda Government selects Consortium comprising YAATRA, BHGE, LionWorks, and Saipem to develop, finance, construct and operate a greenfield Oil Refinery in Hoima District, Uganda

When executed, this will help develop the industry infrastructure and provide livelihood for the Ugandan people and, by extension, other East African countries KAMPALA, Uganda, April 25, 2018/ -- Following the favourable evaluation of its private sector-led offer by the Uganda Governme ...

OilVoice Press - OilVoice


Posted 5 hours agoPress > UgandagovernmentYAATRA +11

Federal Financial Interventions and Subsidies in U.S. Energy Markets Declined Since 2013

Source: U.S. Energy Information Administration, Direct Federal Financial Interventions and Subsidies in Energy in Fiscal Year 2016 EIA has updated its report on federal financial interventions and subsidies in energy markets , covering the 2016 U.S. government fiscal year (FY). Subsidies ...

OilVoice Press - OilVoice


Posted 6 hours agoOpinion > USUnited StatesEnergy +4

Subsea 7 Re-Affirms its Proposal to Acquire McDermott

Subsea 7 S.A. today announced a re-affirmation of its interest in acquiring McDermott International, Inc. (“McDermott,” NYSE: MDR). Subsea 7's proposal is subject to the termination of McDermott's pending transaction with CB&I (NYSE: CBI).  Subsea 7 is open to considering amending its proposal if ...

OilVoice Press - OilVoice


Posted 6 hours agoPress > NYSESubsea 7McDermott +2

Hess Reports Estimated Results for the First Quarter of 2018

Key Highlights: Increased our share repurchase program by $1.0 billion to a total of $1.5 billion, which is expected to be completed by year-end; repurchased approximately 8 million common shares for $380 million in the first quarter, completing the initial $500 million program Commenced ...

OilVoice Press - OilVoice


Posted 9 hours agoPress > Hess CorporationResultsQ1 +4
All posts from oilvoice