MP Dunleavy is worrying about how to pay for heating costs this winter. She lives in upper New York, and I have to say I understand her pain. I too am worried about heating for this coming winter. However I didn’t buy a larger second home this past year.
She is estimating and increase of $1000 more in heating costs this winter. She has already locked in a contract limiting the price at $4.41/gallon for oil to heat the house, compared with $2.79 to $3.69/gallon last year, an increase of 20%- 58%! Many others in the northeast will be hurting as they see these increases. They will be looking to conserve more and use less. But how much less can we really use?
Where I live, the summer price of gas has already increased from $1.19/therm to $1.51/therm until October. This is an increase of 26.9% in one year. At which time the Winter prices will kick in and they are projected to above $2/therm. Last year, I had a letter from the gas company (keyspan) and was told there was to be a 40% increase last year and there was. Will it end up doubling this year?
And this is only for natural gas heating. My electric bill continues to rise about 40% though I haven’t increased usage in 3 years of living here, so an increase of about 10% annually in price. I think everyone should be worried about heating costs, but I have to say, MP knew it was coming and yet still bought a larger home.
Makes me wonder if other people realize now is the time to start cutting back and economizing instead of spending foolishly?
3 responses so far ↓
1 Jim ~ mydebtblog.com // Jun 17, 2008 at 2:52 pm
I know the focus is that energy cost is going up, but is there anything you can focus on that is going down? This whole energy crisis is a self fulfilling prophecy like the ‘recession’ and ‘global warming’ if you ask me. Eventually, just like the dot coms and the mortgage industry, it will go bust and drop sharply. The free market only allows for certain activity to go on for so much time, until something changes the game.
2 cinzea // Jun 17, 2008 at 8:20 pm
Coming this September, we’re putting in a wood burning stove. Already doing the research and pricing now as I type. Big discussion between DH and I is should we get a pellet stove (he) or wood (me). I say wood because we will depend on ourselves. I have enough trees on property to last 4 years. pellets mean we have to depend on someone to supply them-and a few times, the pellets were hard to find. Duh?
Home is heated with propane @$3.25 gallon, up 18% so far than last year. Despite rising electricity costs, our budget is the same because we keep using less and less and less.
Ugh.
To Jim, the only thing going down right now is the price of iPods, iPhones and other electronics. Unless you can burn them or wire them to keep you warm at night, they’re pretty well useless.
3 LivingAlmostLarge // Jun 17, 2008 at 9:13 pm
We got rid of our wood burning fireplace and instead last year installed a gas fireplace. Yes it cost more but it actually costs less to have pipes bursting! Woohoo! My stupid furnance is in the attic, so pumping hot air 4 stories does not go well!
Anyway the pellet stoves we looked at are more expensive, but they are more efficient at producing heat. Our biggest limitation was we ended up with a fireplace insert because we didn’t want an ugly stove in our bottom floor. It seems to work beautifully.
Anyway sure iphones are cheaper $199, but the monthly plan just went up so you end up paying more anyway! Ugh.
Last year I got more heat for the buck! Yes I paid more but the house was warmer and heated more efficiently. This year I have no idea what I’ll do to save a buck.
He won’t wrap our water heater, said it’s stupid for a new heater. He hates filling gaps in our floors, again said it’s stupid. I have no idea how to get him to help make our house more energy efficient.
If I were you Cinzea, I’d have put in tankless water heaters on your final home. I’m going to do that when we finally settle down. And put in solar shingles.
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