EIA sees 10% rise in US household natgas, propane heating expenditures

Feb 20 (Reuters) - The U.S. Energy Information Administration expects an increase of 10% in household energy expenditures for heating with natural gas and propane for the current winter period extending from November through March, it said on Thursday.

In an earlier estimate, released in October, the agency expected between a 2% decrease and a 7% increase in household energy expenditures for homes mainly heating with natural gas this winter. However, the EIA said in a note that it revised these forecasts as energy prices and consumption had increased beyond its initial expectations.

"January’s cold weather increased natural gas consumption and resulted in near-record withdrawals of natural gas from storage," the agency added.

U.S. propane inventories have also been drawn down since the beginning of winter, now near their previous five-year average, while U.S. propane exports are at record highs, according to the note.