DENVER (CBS4)– The price of natural gas used to heat homes is on the rise. Xcel Energy warned customers about the increase earlier this month.

(credit: CBS)

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The energy company said there are three reasons for the increase: demand is outpacing supply during the pandemic, gas exports have increased and there is damage from the recent hurricane, Hurricane Ida.

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Residential customers will pay an average of 14% more, with the average bill going up from $78 to $89.

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Electricity costs are also going up because natural gas is used at some electric generating facilities. The average household bill will see an increase in their electric bill of about 2%.