OHIO, USA — Your home heating bill could be more manageable this winter than last year, according to Columbia Gas of Ohio.
The company announced on Monday that the natural gas commodity portion of a customer's bill is estimated to be around 25-35% lower than in 2022. The other portion of the bill is what it costs to deliver the natural gas to customers.
“With the costs of many everyday items continuing to rise, we know that every bit of savings can make a difference,” said Vince Parisi, president and chief operating officer of Columbia Gas of Ohio. “The decrease in the cost of natural gas comes as good news, as we head into the winter months, when customers typically use more to heat their homes.”
While the price of natural gas is expected to decrease by that amount, it does not mean your overall bill will reflect that same discount.
The factors contributing to the decrease in the cost of natural gas are that current market prices are lower than last year due to increased production levels, lower exports due to a decrease in demand for natural gas in Europe and filling storage at lower prices than in previous years.
"After the initial scare that was created by the conflict in Ukraine, Europe found other ways to source that lost Russian supply due to the war," said Amanda DePerro, a communications specialist with Columbia Gas of Ohio. "So while it was assumed the U.S. would fill in the gap in terms of meeting European demand, with European storage full and Europe kind of having a mild winter, there wasn't much demand for gas in the U.S. as previously thought."
There are also ways to reduce your bill even more with things you can do around your home such as making sure your furnace filter is clean to using the dishwasher as opposed to washing the dishes by hand.
The company also said they encourage customers to winterize their homes and purchase energy-efficient appliances.
For a full list of energy-saving tips from Columbia Gas, click HERE.
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