Natural Gas Shortages to Inflate US Heating Prices

Natural gas shortages around the world are setting the stage for sky-high heating prices this winter. Natural gas is used to heat roughly half of US homes, and its price has doubled since this time last year. US Energy Secretary Jennifer Granholm said yesterday that the Biden Administration is weighing its options to address incoming high heating prices, which Reuters says could involve tapping the U.S. Strategic Petroleum Reserve. The National Oceanic and Atmospheric Administration projects a milder-than-average winter, but if this projection falls short and this winter is slightly colder than average, heating bills could rise by 50% over their typical cost for households using natural gas.

Business owners that want to save on heating costs for their facility should consider energy efficiency upgrades. An energy efficient building requires less heating to be comfortable and is billed for utilities far more predictably than a facility that wastes energy and doesn’t make the most out of its heating resources. If you are interested in saving on heating via a well-implemented energy efficiency program for your building, contact us at info@360eg.com.