Are Michiganders’ Heating Bills About To Rise?
The aftermath of the pandemic, hurricanes and floods have gas prices going through the roof, will this also mean higher heating bills for Michiganders?
I don't know about you, but I am using my space heaters as long as I can to try and cut down on my heating costs for the winter. I have propane and it was highway robbery before the pandemic, I am praying to man upstairs that my costs don't increase.
Luckily for most other people in Michigan, their homes run on natural gas which aside from heating your home with wood, is the most affordable way to heat your home.
According to FOX 17, the average cost for households across the country are expected to rise by 30% for October to March compared to the prices at this same time last year. Ouch!
This is all because the global price for oil and gas has went up due to the pandemic. Which I find odd because less gas and oil were used since no one was driving for months on end. You would think there would be a surplus if anything.
So what does all this mean for us right here in Michigan? Well according to the Michigan Public Service Commission's Dan Scripps, "about half the gas we use in Michigan is bought during the summer and stored as opposed to the just in time prices that expose us to more of the market trends."
The state of Michigan has excellent gas storage capabilities so Michiganders won't be hit hard financially to stay warm this winter. Whew!
Because of the great gas storage capabilities here in Michigan, DTE Energy Vice President of Gas Sales & Supply Dan Brudzynski said, "if we have really really cold days, we are able to dip into storage. So we are about 65% locked in for next winter already at lower prices."
So basically if you have natural gas to heat your home in West Michigan, you shouldn't see an increase. Although those of us who have propane, that may be another story.