EIA: Winter Fuels Outlook projects higher US natural gas demand
EIA's Winter Fuels Outlook forecasts US residential consumption will average 61.3 Mcf per household over October 2016 through March 2017, 10% higher than last winter. US natural gas consumption peaks during the winter season, with nearly half of US homes using natural gas as their primary heating fuel. The increase in consumption compared to last winter is based on a return to temperatures that are closer to normal. Last winter's El Niño weather pattern resulted in winter temperatures that were 15% warmer than the previous 10-year average.
EIA forecasts gas prices will average $10.37/Mcf, 11% higher than last winter and the highest since the winter of 2010–11. EIA expects households heating primarily with natural gas to spend $116 (22%) more this winter compared with last winter, a result of the higher prices and increased natural gas consumption. However, the forecast average expenditures of households heating with natural gas are comparable to those in the five winters prior to 2015–16.
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