BUSINESS + ECONOMY

Home heating prices going up around the nation, but not as high in Utah

Oct 14, 2021, 6:25 PM
Utah home prices...
Home heating prices are on the rise around the country, but not as high in Utah, (PHOTO: KSL TV)
(PHOTO: KSL TV)

SALT LAKE CITY, Utah — It’s going to cost you more to heat your house this winter. But in Utah, it won’t be as much as some other places around the country. 

Home heating

A new national report shows home heating prices are going up because fuel prices are rising and demand has also gone up since last year, and some areas could pay as much as 40% more.

“Ours are only up 8% in Wyoming, and 9% in Utah,” Don Porter, a spokesperson for Dominion Energy told the Dave and Dujanovic show.  Dominion is Utah’s only regulated natural gas provider.

“People need to realize, this is just because of the price of gas, it’s not because big bad Dominion Energy wants more money when it’s getting cold,” Porter said. 

Where gas is stored

Natural gas companies store gas in the ground in the summer when it’s cheaper and pull it out in the winter, according to Porter. And this last year the companies had to buy a lot more at higher prices.

“Last year they had to burn a lot more gas, and they had to buy a lot more. And we did too, a little bit.” Porter said. 

But, he said, Dominion produces more than half of theirs on their own with wells in eastern Utah, Wyoming, and Colorado. 

“So our prices, our rates tend to be really low compared to other parts of the country,” he said. 

Porter also said the company doesn’t make money off the sale of the gas.

“We make money by building and maintaining the system,” he said. “We’re allowed [up to] a certain profit to do that,” he said. Porter also reiterated how regulated their company is. 

“The public service commission keeps a really close eye on everything we do,” Porter said.

Read more:

 

 

 

 

 

Today’s Top Stories

Business + Economy

home prices salt lake city buy home prices 2020 millennials...
Kate Davis

Home prices in Salt Lake City harbinger of a national trend?

A report from Zillow shows that home values in Salt Lake City fell more than 7% from May to August 2022.
2 days ago
Mandatory Vehicle Safety Inspections...
Jessica Lowell

Extending the life of your car: Getting more miles out of your vehicle

New and used vehicles have a hefty price tag. There are many ways car owners can keep their cars running longer.
2 days ago
Multiple credit cards...
Martha C. White, CNN

America’s dependence on credit cards is growing. The Fed’s rate hike will make it more painful

Data from Bank of America reflects higher rates of borrowing among lower income Americans. Credit utilization, a ratio of how much available credit a person has used as a percentage of their credit limit, has been rising since early 2021.
3 days ago
Ford just unveiled a new Mustang coupe that, notably, is not electric or even hybrid. The new two-d...
Peter Valdes-Dapena, CNN Business

Ford: Gas cars are a growth business for us

Gas cars aren't dying, according to an executive at Ford. In fact, they are "booming" the executive says.
3 days ago
A sale sign stands outside a home in Wyndmoor, Pa., Wednesday, June 22, 2022. If you’re settling ...
Anna Bahney, CNN Business

Home sales dropped 20% in August from a year ago

For the seventh month in a row, home sales have declined.
3 days ago
FILE: U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a...
Nicole Goodkind, CNN Business

Fed raises interest rates by three-quarters of a percentage point

The Federal Reserve made history Wednesday, approving a third consecutive 75-basis-point hike in an aggressive move to tackle inflation.
4 days ago

Sponsored Articles

a worker with a drill in an orange helmet installs a door in the house...
Price's Guaranteed Doors

Home improvement tip: Increase the value of your home by weatherproofing doors

Make sure your home is comfortable before the winter! Seasonal maintenance keeps your home up to date. Read our tips on weatherproofing doors.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
A paper reading IRS, internal revenue service is pictured...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Prescription opioids can be disposed of during National Prescription Take Back Day...
Know Your Script

Prescription opioid misuse | How to protect your family from the opioid epidemic

Studies have shown that prescription opioid misuse has increased since COVID-19. So what do you need to know about these opioids?
national heart month...
Intermountain Healthcare

National Heart Month: 5 Lifestyle Changes to Make Today to Keep You Heart Healthy

Heart disease is the leading cause of death for both men and women. One person dies every 36 seconds in the United States from cardiovascular disease
Home heating prices going up around the nation, but not as high in Utah