In addition to the National Oceanic and Atmospheric Administration’s forecast of an unusually cold winter, the cost of natural gas and heating oil is skyrocketing.
Folks in the Northeast lucky enough to own pellet stoves will likely be depending on them for heat more than ever this winter.
According to this NH Bulletin report, “The higher cost of energy is linked to inflation and other factors that extend far beyond state borders. Because American gas producers can fetch a higher price for gas abroad, that’s increasingly where they are sending it, according to Sam Evans-Brown, executive director of Clean Energy New Hampshire, a nonprofit that advocates for clean energy.
‘The cautionary tale here is really that we are over-reliant on a fuel that we thought was going to be at $2 per million BTU forever. And really, the story is that was an artificially low price. Now the mistaken belief that that was the norm is coming home to roost,’ Evans-Brown said.
Evans-Brown is talking about natural gas, used by just over 20 percent of New Hampshire households for heat. Those households could see a 30 percent hike in heating costs compared to last year, according to the U.S. Energy Information Administration.
For the two out five homes in New Hampshire that heat with fuel oil – the most common type of heating system in the state – spending is predicted to increase by 43 percent.
‘There’s nowhere else in the United States that is as reliant on heating oil as New England is. It means that these price swings are just genuinely unaffordable,’ Evans-Brown said.
But neither natural gas nor fuel oil are predicted to see the biggest price jump. The 17 percent of New Hampshire households heating with propane are expected to see a 54 percent increase.”
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