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Home Heating Bills Up 23%

Home Heating Bills Up 23%

Bone chilling temperatures are causing utility bills to skyrocket not only up North, but here along the Texas coast too.

Millions of people can expect a spike in their bills this month and possibly next month too as another round of winter weather heads our way.

Some home heating bills have risen more than 23-percent in the past few weeks.

“You have just a perfect storm of very cold weather and extreme demand all across the country,” says Stephen Schork of energy markets tracker The Schork Report.

Virtually all types of home heating has been impacted.

“Certainly we're seeing a knock on natural gas, propane, and a knock on to power generation, so this is going to be a significant pop,” Schork tells KTRH News.

Anyone using electricity has likely seen their bills nearly triple this winter. However, propane users have seen the biggest jump in price.

“The price of propane in Kansas last week traded at over a $3 a gallon premium to Mont Belvieu down on the Gulf Coast of Texas, and that's a factor of not enough supply and a heck of a lot of demand,” says Schork.

 

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