Based on current market conditions, power company National Grid is forecasting a decrease in residential natural gas heating bills by more than 18% for the 2023-24 winter heating season.
The projected year-over-year decrease is attributed to increased domestic natural gas production and supply, and lower demand on the international market. Despite the decreases, Natural Grid is continuing its Customer Savings Initiative into the upcoming winter season to help customers who are struggling to make ends meet. Launched in 2022, the Initiative connects consumers with resources to reduce energy usage and save money, better manage bills, and secure available energy assistance.
Additionally, Natural Grid’s shareholders contributed $6 million to establish the first New York energy company relief programs for low- to moderate-income customers who don’t qualify for federally funded affordability programs.