(NEXSTAR) – Finally some good news for your budget: Most U.S. households should plan to “spend about the same or less on energy than they did last winter,” the Energy Information Administration predicts in its annual report . But there are some exceptions, the report admits.
The first big anticipated change is weather. Last year’s winter was the warmest on record , which helped keep energy costs low. Long-range forecasts indicate the winter of 2024-2025 is expected to be colder, especially in northern states and the Midwest, which would hike up gas and electricity bills.
A state-by-state analysis of the federal report by MoneyGeek predicts Michigan, Missouri, Ohio, Illinois and Kansas will see the largest increase in natural gas bills. How big that increase will be depends on the size of your home and how high you set your thermostat, but it probably won’t break the bank for the average family. This year’s bills in those states are expected to be $10 to $15 more per month when compared to last winter.