Fargo, North Dakota – This winter, energy prices are expected to skyrocket, putting a strain on everyone’s wallet. Increased demand and insufficient supply are the reasons.
This winter, keeping your family warm will cost you extra. Since December 2020, the price of energy has increased by more than 30%. Gas costs are expected to be roughly $30 per month higher in the winter, according to Xcel Energy officials.
Last year, as the global economy slowed, energy costs dropped. The energy supply hasn’t kept up with the increase in demand now that the economy is roaring back to life.
Officials from Xcel Energy said they are the ones who are increasing prices for their customers.
“It really is overall a result of supply and demand economics. If we buy natural gas for a dollar…we sell natural gas for a dollar,” said John Marshall.
Families on a fixed income are the ones who have been impacted the most.
“Number 1 is we want to support those households that qualify for those programs,” said North Dakota Department of Human Resources director of Economic Assistance Michele Gee.
For individuals that require help, Gee says it is only a click away. Click here to fill out an application for the Low Income Home Energy Program.
