National Grid says heating costs will increase more than previously projected
Larry Rulison is reporting for the Times Union National Grid told its customers this week to expect to pay $46 more a month for their home heating bills this winter. The increases are caused by inflation and other factors. The company warned customers that average monthly bills will go up nearly 50 percent. The news comes as consumers face increases in the cost of everything from groceries, clothing, pet food, car parts and home improvement supplies amid the worst price inflation since 1990. National Grid told customers last month that their heating bills would be 31 percent higher than last winter because of a huge spike in wholesale natural gas prices. The revised forecast will mean the average customer, who typically paid $100 a month for heat last season, will now pay $147 a month to stay just as warm this winter. Inflation is having its biggest impact on energy prices, which have already increased 30 percent over the past 12 months, according to data released this week by the U.S. Department of Labor. The pandemic played a role in the increase, as well. With the economy rebounding as businesses reopened and people have been vaccinated, rising demand for oil and gas has outpaced industry production, causing prices to spike. Read the full story in the Times Union.