Breaking down the respective costs of various mainstream home energy sources, natural gas will be the cheapest to use in 2007, according to the Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy. The DOE forecast of projected costs of natural gas, heating oil, electric, propane and kerosene energy use was published in the March 21 Federal Register. According to DOE, one million Btus of natural gas will cost an estimated $12.18 this year — while the same amount of electricity will cost families more than twice as much ($31.21) on average. Natural gas will also cost less than heating oil ($16.01), kerosene ($19.48) and propane ($20.47). “These cost savings can add up quickly, especially for home heating and water heating,” said Tom Moskitis, American Gas Association (AGA) managing director of external affairs. “For water heating, an average household using a conventional storage type water heater would save around $220 per year in energy costs by using a natural gas water heater instead of a similar electric unit. That means the natural gas water heater can pay for itself after just a few years — and save a consumer $2,000 in energy costs over the nine-year life of the appliance.” According to AGA analysis of the DOE’s cost projections, the least expensive way to heat a home in 2007 is with a high-efficiency (94%) natural gas furnace. The association said this option will cost consumers an estimated $801 in 2007, compared with $1,930 for the most expensive home-heating option — an electric resistance system (such as electric warm air furnace heating). For the full year 2007, AGA found that an 84%-efficient oil furnace would cost a consumer $946 while a 94%-efficient propane furnace would cost $1,184. An electric 7.7 HSPF heat pump would come the closest to the natural gas option, costing customers $814 in 2007.
Cheapest
Articles from Cheapest
DOE Taps Natural Gas as Cheapest Home Energy for 2007
Breaking down the respective costs of various mainstream home energy sources, natural gas will be the cheapest to use in 2007, according to the Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy. The DOE forecast of projected costs of natural gas, heating oil, electric, propane and kerosene energy use was published in the March 21 Federal Register.
DOE Expects Natural Gas to Be Cheaper Than Other Home Energy Options in 2005
Despite astronomical increases in natural gas prices in recent years, natural gas still could be the cheapest on average of all home energy sources this year, according to an analysis by the Department of Energy’s Office of Energy Efficiency and Renewable Energy.
DOE Expects Natural Gas to Be Cheaper Than Other Home Energy Options in 2005
Despite astronomical increases in natural gas prices in recent years, natural gas still could be the cheapest on average of all home energy sources this year, according to an analysis by the Department of Energy’s Office of Energy Efficiency and Renewable Energy.
Marathon Eyes ‘Fastest, Cheapest’ LNG from Equatorial Guinea
With its Equatorial Guinea liquefied natural gas (LNG) project well along, Marathon Oil Corp. should have a “definitive supply agreement” by the end of this year for the equivalent of 3.4 metric tons of LNG annually over a 17-year period, according to Clarence Cazalot, Marathon’s CEO, who spoke Wednesday at the three-day Lehman Brothers Energy/Power Conference in New York City.
Marathon Eyes ‘Fastest, Cheapest’ LNG from Equatorial Guinea
With its Equatorial Guinea liquefied natural gas (LNG) project well along, Marathon Oil Corp. should have a “definitive supply agreement” by the end of this year for the equivalent of 3.4 metric tons of LNG annually over a 17-year period, according to Clarence Cazalot, Marathon’s CEO, who spoke Wednesday at the three-day Lehman Brothers Energy/Power Conference in New York City.
Prices Drop; SoCal Border Cheapest in More than a Year
Having lost much of the supporting elements for higher prices from earlier in the week, the cash market yielded to the inevitable Friday with sizeable across-the-board declines. Losses were measured in the teens at nearly all eastern points, while larger drops in the West were topped by dollar-plus plunges at the California border-SoCalGas and OFO-devastated PG&E citygate.
