2022 Heating Bills: How Much Will Costs Go Up?

While the year 2022 is officially drawing to a close, the worst may be yet to come for Americans across the country, particularly those living in colder climes further north.

COVID lockdowns and restrictions on Russian oil imports following the country's invasion of Ukraine could entail costly heating bills for Americans this winter.

According to the Department of Energy, your heating bill might rise by as much as 28 percent this winter, resulting in an additional $200 in heating costs.

Additionally, it is expected that the price of heating oil and electricity will both rise by 27 percent and 10 percent, respectively.

Low-income households could bear the brunt of these additional prices. Several initiatives provide financial relief to persons in need.

LIHEAP helps low-income individuals with heating and cooling bills, bill payment assistance, energy crisis relief, weatherization, and energy-related home repairs.

Anyone enrolled in SNAP, SSI, or TANF is eligible to revive LIHEAP support (Temporary Assistance for Needy Families).

The U.S. Department of Energy (DOE) started the initiative to help low-income families increase their energy efficiency.

Finally, New York, Connecticut, Pennsylvania, and Maine will cap heating oil purchases to discourage stockpiling, which could affect pricing.

The eligibility requirements vary by state, but households receiving SSI and/or TANF will be eligible.