MADISON, Wis. (Nov. 1, 2022) – The U.S. Energy Information Administration (EIA) recently reported that “many households across the United States are likely to spend more on energy in the winter of 2022–23 compared with recent winters.” According to the report, energy costs for U.S. homes heated with natural gas are expected to rise by 28% during the period between October and March. Home heating costs are also expected to rise 27% for heating oil, 10% for electricity and 5% for propane. The EIA notes that increased demand, lower-than-average gas reserves, and geo-political impacts such as the conflict in Ukraine have all affected global fuel supplies and prices.
“We see the financial pressures that come with high fuel prices, and we’re doing everything we can to minimize the impact on our customers and the communities we serve,” said Michael Luhrs, Senior Vice President of Customer Experience and Strategy at Alliant Energy. “By taking steps now to improve efficiency and manage energy use, customers can limit the impact of high gas prices on their bill. While market prices continue to fluctuate, our strategic plan to invest in cleaner, zero fuel cost energy production will deliver significant cost benefits to customers.”
Throughout the year, Alliant Energy takes steps to minimize the impact of winter heating costs on customers. For example, the company buys and stores some natural gas in the summer when prices are typically lower and purchases a portion of its natural gas supply under long-term fixed price contracts. These actions make a difference in the overall cost of natural gas, which is a direct pass-through to customers (meaning Alliant Energy does not earn a profit on the gas it purchases).
Customers can also influence their utility bill by managing their energy use. A variety of tools, cost-saving measures and assistance programs are available:
1.) Customers can set up their My Account to get real-time data and notifications about their energy use. With this knowledge, they can then take steps to reduce their use and therefore their overall bill.
2.) Cost-saving energy reduction tips can be found at alliantenergy.com/winterbills. Some examples include:
- Turn your thermostat down, especially at night and when you’re away. Even adjusting it a degree or two can make a difference.
- Open shades during the day to let the sun in. Close shades at night to keep heat in.
- Seal windows and block drafts around doorways with weatherstripping and caulk.
- Get a furnace tune-up. Keeping your furnace clean, lubricated and properly adjusted will reduce energy use.
- Change your furnace filter. Pushing air through a clean filter requires less energy.
3.) Rebates and tax credits for cost-saving home improvement upgrades are available through the recently enacted federal Inflation Reduction Act. More information about home weatherization and energy efficiency incentives can be found at whitehouse.gov/cleanenergy.
4.) Customers who need financial assistance may be able to get help with their bill. They can call 211 or visit alliantenergy.com/energyassistance for details about available options, including the Low-Income Home Energy Assistance Program and the Hometown Care Energy Fund.
Alliant Energy Corporation (NASDAQ: LNT) provides regulated energy service to 985,000 electric and 425,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy's two public energy companies. Alliant Energy is a component of the Nasdaq CRD Sustainability Index, Bloomberg's 2022 Gender-Equality Index, and the S&P 500. For more information, visit alliantenergy.com and follow us on LinkedIn, Facebook, Instagram and Twitter.