Xcel Energy tells customers to expect heating costs to rise
EAU CLAIRE, Wis. (WEAU) - With winter approaching, Xcel Energy said it may cost people quite a bit more to heat their homes.
That’s because natural gas costs are rising.
The energy company said people who get their heat directly from natural gas are likely to see the biggest and most immediate impact.
People could be paying an extra $45-65 monthly for heat between November and March.
Xcel spokesperson Chris Ouellette said the bill increases are due to supply and demand issues. Coming out of the pandemic, natural gas demand far outweighs supply compared to previous winters.
She added the company sells its natural gas for heating at cost, meaning it pays what its customers pay.
Oullette also said despite the expected price increases, there are things people can do to save money. This includes people making sure their furnace is running properly and turning their thermostat down.
“The most important thing is for customers is to do is to understand what’s going to be coming,” she said. “And we know how hard it’s going to be so that’s why we want to make sure that they know what’s going to happen but then they can also prepare by doing those types of things.”
Ouellette said people who heat their homes using electricity could see their electric bills increase but that would not happen until after the winter season when state regulators help set the price.
She also said the company will not turn off anyone’s heat regardless of payment between November and March.
She added Xcel expects natural gas prices to eventually come back down when supply and demand balance again.
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