Consumers will be shocked to see their utility bills this winter as they start turning on their furnaces in the next month. The Henry Hub spot price for Natural Gas Price has gone up 128% during the past year. In a race to convert to “Green Energy” both in the United States and Europe coupled with the most recent hurricanes on our Gulf coast that knocked out refineries we will be faced with a shortage of Natural Gas this winter.
Because of the Tax Incentives in Europe for Green Energy (wind, solar, geothermal) and anti-carbon policies this has created a fossil fuel shortage. Countries are scrambling now to import fossil fuels in Europe because there are real concerns that they will not have enough to heat all of their homes this winter.
In addition, with Bidens new Infra Structure Bill currently being debated in the House there is a Provision in that Bill for a 12% Tax on Fossil Fuels like Natural Gas. If this bill passes there will be even a bigger increase in the Cost to Heat your home. This is essentially a Tax on the Middle Class and Lower which Biden is supposedly trying to help economically.
Over the past 10 years Natural Gas Prices have steadily declined which homeowners have seen in their utility bills. With the recent spike in natural gas prices it will be the first time in awhile that homeowners will be forced to save on energy costs this winter in order to survive financially.
What You Can Do to Save On Your Gas Bill
The first step is to have your furnace serviced this Fall by a Professional to make sure that it is running safely and efficiently. If you have an older furnace it is time to consider a High Efficient Furnace to save on energy. We would recommend a Carrier 96% two-stage Furnace with Variable Speed Motor. This furnace could cut your Energy usage significantly and add Comfort to your home.
You can also install Wi-Fi Programmable Thermostats to Set Back Thermostat when you are not in home. You could consider installing Electric Heat Pump System with High Efficient Natural Gas Furnace backup. This is a Dual Fuel System or known as Hybrid Heating. This way you have to best of both worlds depending on price per KW of electric or natural gas per therm.
Regardless of what you do, with Bidens Energy Policy, new Infra-Structure Bill, Fossil Fuel Reductions because of tax incentives and China heavy usage of Fossil Fuels you will paying a lot more to Heat your Home this coming winter.