2.06.04 U.S. Department of Energy: Natural gas remains the best energy value for residential consumers by American Gas Association Natural gas remains the most economical home energy for six of the last seven years Natural gas will cost less to use this year than other major home energy sources, according to the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy. Most American homes are heated with natural gas because consumers prefer its comfort, cleanliness and reliability; a high-efficiency (94 percent annual fuel use efficiency, or AFUE) furnace is the least costly home-heating option in 2004, according to Tom Moskitis, director of external relations for the American Gas Association (AGA). "For water-heating, an average household can save about $200 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 nearly $1,800 over the nine-year life of the appliance," Moskitis said. DOE estimates that, during 2004, one million British thermal units (Btus) of various residential energy sources will cost: Natural Gas $ 9.10 No. 2 Heating Oil $ 9.23 Kerosene $11.41 Propane $13.46 Electricity $25.20 Based on DOE's estimates, it will cost $555 this year to heat an average home with a high-efficiency natural gas furnace ­ about two-thirds less than the nearly $1,400 it would cost with an electric resistance furnace and significantly less than the cost of heating a home with an electric heat pump or oil furnace, an AGA analysis found. Click here to see additional estimates of operating costs for home-heating systems and water heaters. Click here to see annual heating cost analysis for heating degree days. Click here to go to the top of this page

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