US Household Electricity Bills Expected to Rise 10.2 Percent This Winter

Homes heated with oil may see a 4 percent drop in costs, the National Energy Assistance Directors Association says.

Undated photo of a heat pump. Octopus Energy/Handout via PA

Americans using electricity to heat their homes should be prepared to bundle up a bit more this winter as utility rate increases are expected to escalate by 10.2 percent.

A Sept. 19 announcement from the National Energy Assistance Directors Association (NEADA) forecasts electricity costs will rise from an average of $1,093 in 2024 to $1,205 this year.