The Energy Information Administration (EIA) has just released its Feb Winter Heating forecast. As a result of the warmer winter, they are projecting a continuing decline in average costs, except for heating oil which would show a small increase, as follows: natural gas ($724 to $643), electricity ($961 to $918), propane ($1,817 to $1,729), and heating oil ($2300 to $2326). The average cost of home heating (a NEADA calculation based on EIA data) would decline from $990 to $905. The purchasing power of LIHEAP for winter heating would still show a steep decline from 42.1% to 34% of the cost of home heating. Clearly there is some good news re affordability, however, the steep cut in LIHEAP more than offsets the decline in price. Attached is the updated price table.
See Attached Table