Market
Average increase in consumer energy costs by 2025?
2
Resolution / Starting Odds
Less than $200 • 25%
$200 to $450 • 25%
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More than $700 • 25%
Energy cost reports or utility company data
Story
Biden Administration Bans 40% of Gas-Powered Tankless Water Heaters, Expected to Cost Consumers $450 and Impact Low-Income Households
Jan 5, 2025, 01:16 AM
The Biden administration has implemented new regulations banning approximately 40% of natural gas water heaters, a move that is expected to increase consumer costs by an estimated $450. These last-minute regulations, described as 'lame-duck' actions, specifically target gas-powered tankless water heaters, which experts warn could disproportionately affect low-income households and seniors by driving up energy prices. Critics of the ban argue that it will create challenges for those unable to switch to electric alternatives due to insufficient electrical capacity in their homes. The regulations were finalized shortly before the transition to the incoming administration led by Donald Trump.
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