Saturday, October 23, 2021

‘A wakeup call’: heat bills will rise amid global energy crisis

Emily McClain, a senior gas analyst at Rystad Energy, said several factors created a “perfect storm” scenario: Colder temperatures along with a global economic recovery fueled stronger demand, but shale producers slowed production, and pipelines and storage. have make. The constraints will limit their ability to meet the demands.

McClain said prices should moderate, although Rystad expects prices to remain in the $3 to $4 range by 2023.

The CUB encourages residents who are struggling financially and who can afford it to apply for an energy assistance grant to consider replacing old furnaces or adding insulation to their homes.

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“We’ve been fortunate that natural gas prices were low for the past few years,” said Material. “It’s kind of a wakeup call.”

Kendall Richards, president of All Comfort Services, says she’s heard “some rumble” from customers before raising prices, but most customers don’t think about their furnace until it breaks.

But with its suppliers sitting on short lists and facing difficulties obtaining computer chips and other parts, Richards warns it’s not a good year to wait.

“It may be better to do it on your own timetable,” Richards says.

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