The U.S. Energy Information Administration (EIA) forecasts that U.S. households using natural gas heat will spend 21% less for the 2023-24 winter. The forecast also predicts that weather in the South region will be 11% colder than last winter. The EIA’s Winter Fuels Outlook 2023-24 is available here.
The EIA Report highlights the average consumer expenditure forecast for the winter of 2023-24 in the South region is $494 for homes heating with natural gas verses $1,001 for homes heating with electric… that’s a cost savings of $507 by using natural gas!