Energy Efficiency Is Best Investment for Countering Rising Winter Heating Fuel Costs

Washington, D.C., October 9, 2007 – Consumers facing higher winter heating costs of 4 to 22 percent – depending on which fuel powers their home – can use energy efficiency to keep those costs in check while remaining comfortable, advises the Alliance to Save Energy.

According to the Winter Fuels Outlook released today by the Energy Information Administration (EIA), projected costs for natural gas, heating oil, propane, and electricity are all expected to increase this winter compared with the costs for the winter of 2006-07. This increase continues a trend that began in the winter of 2001-02 and was broken only last year when heating costs fell or held steady with those of the year before.

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EIA is projecting that the average U.S. household will have to spend about $88, or 10 percent, more than last year on heating fuel this winter, for a total of about $975 in heating costs. The largest increase will hit users of heating oil, who face a 22 percent, or $319, increase. Natural gas costs are projected to increase by 10 percent, or $78; propane by 16 percent, or $221; and electricity by 4 percent, or $32.

“Energy efficiency is the best way to counter this continuing trend of rising winter heating costs,” Alliance President Kateri Callahan advised. “Not only can energy efficiency lessen the increase in winter energy bills fed by higher fuel costs, it also will ensure that consumers remain warm and comfortable in their homes this winter, regardless of the weather."

Callahan continued, “The Alliance also encourages consumers to take advantage of the last few months during which they can receive a federal income tax credit of up to $500 for certain energy-efficiency home improvements. Those tax credits will expire at midnight on December 31, 2007.”

Consumers can learn how to arm themselves against rising fuel costs with simple yet effective energy-efficiency measures at www.ase.org/consumers .

Information about the federal income tax credits is at www.ase.org/taxcredits , a site developed by the Alliance in partnership with the U.S. Department of Energy.

The Alliance to Save Energy is a coalition of prominent business, government, environmental, and consumer leaders who promote the efficient and clean use of energy worldwide to benefit consumers, the environment, economy, and national security.

Source: The Alliance to Save Energy