Cost to Heat a Home in New Hampshire: Oil vs Propane vs Heat Pump

In New Hampshire the cheapest heat last winter was natural gas at $20.00 per MMBtu delivered; electric resistance cost $78.48 — EIA prices, October 2025 to March 2026.

Updated September 2026 · Source: EIA STEO September 2026, Natural Gas Monthly, SHOPP · EPM Table 5.6.A (July 2026 data) · next: EIA Winter Fuels Outlook Oct 6, weekly SHOPP prices from October

By SolarCostData Data Desk · Reviewed September 2026 · Corrections log

On this page: CalculatorTableHow we calculatedSources

New Hampshire heating cost per MMBtu, fuel by fuel

The season column is an illustrative 60 MMBtu of delivered heat; in New Hampshire that puts natural gas at $1,200 and electric resistance at $4,709 for the winter. The this-winter column applies EIA’s national STEO change per fuel to New Hampshire’s own price (oil +35% is the large one) — direction, not a state forecast.

The prices behind the table

New Hampshire’s winter gas average ($19.76/Mcf) sits close to its June figure ($21.67), so the seasonal fixed-charge effect that distorts most states’ summer prices is small here.

What New Hampshire’s utilities charge

The statewide 26.78¢ hides a 14.9¢ spread between New Hampshire’s largest utilities, worth $43.67 per MMBtu on resistance heat and $20.12 on a heat pump. The ZIP lookup finds yours.

How New Hampshire homes are heated

Heating oil or kerosene heats 40.8% of New Hampshire’s 551,186 occupied homes against 4.1% nationally, with electricity at 10.7%, propane at 18.5% and heating oil at 40.8%. The table above says otherwise for last winter: the households on heating oil or kerosene paid about $33.11 per MMBtu while natural gas delivered the same heat for $20.00, a $13.11 gap on every million Btu.

What the numbers say about New Hampshire

At last winter’s average prices, the cheapest way to heat a home in New Hampshire was natural gas at about $20 per million Btu delivered, and the most expensive was electric resistance at $78 — a 3.9× spread between the two columns. Gas beat a cold-climate heat pump at 17°F (COP 2.17) by $16.17/MMBtu, and at 47°F (COP 3.2, $24.53) the heat pump still trails. At New Hampshire’s winter rates the economic balance point lands above 47°F (COP 3.92 needed against 3.20 available), so the furnace is cheaper at every rated temperature. Heating oil averaged $3.90/gal across 26 SHOPP survey weeks and finished the season at $5.41 on March 30, 2026; EIA’s September outlook puts national oil +35% for this winter, which would carry New Hampshire’s figure to roughly $45/MMBtu. Propane averaged $3.58/gal in the state survey, with a national -5% outlook for this winter.

Heating degree-days: New Hampshire’s own figure and the EIA division forecast

New Hampshire itself logged 6,287 population-weighted heating degree-days from October 2025 to March 2026 (NOAA Climate Prediction Center state series, base 65°F), against 3,500 for the contiguous US. The month-by-month table below is a different, coarser series — EIA STEO New England census division degree-days, the only one with a forecast for the coming winter; it groups New Hampshire with its neighbours and is not a New Hampshire figure:

January in the EIA New England census division (the coarse series that groups New Hampshire with its neighbours) averaged about 23°F last winter (65°F minus degree-days per day) and is forecast at 29°F for January 2027, a season move of -633 degree-days. Degree-days set how much heat New Hampshire needs, the table above sets the price per unit, and the bill jump calculator multiplies the two.

Heating oil prices in New Hampshire

EIA’s weekly SHOPP survey priced residential No. 2 heating oil in New Hampshire at $3.54/gal in the first October week of the 2025-26 season and $5.41 in the final March week — a season average of $3.90, low $3.47, high $5.41, against a national average of $4.01. The survey resumes in October 2026; the weekly tracker carries every state.

Where the heat pump crosses over in New Hampshire

At last winter’s averages of 26.78¢/kWh and $1.90/therm, a heat pump beats a 95% gas furnace whenever its COP exceeds 3.92. New Hampshire’s economic balance point on the NEEP median curve is above 47°F (COP 3.92 needed against 3.20 available), so the furnace is cheaper at every rated temperature; the crossover tool runs seven named units at New Hampshire’s prices and the dual-fuel calculator turns the answer into a changeover setting.

From October 6 the EIA Winter Fuels Outlook adds household expenditure by region and the weekly SHOPP survey restarts, giving New Hampshire fresh state propane and heating-oil readings on the weekly tracker .

Frequently asked questions

Sources: U.S. Energy Information Administration (EIA) electricity rates · DSIRE incentive records · public IRS/OBBBA guidance. Figures are modeled estimates, not quotes or tax advice. See our methodology.

Where to go next

• Winter heating cost hub: gas vs propane vs oil vs electric — The national table, the arithmetic behind every row here, and all {len(COLD)} state pages.
• Propane vs oil heat cost — New Hampshire’s two delivered fuels head to head, with the break-even price.
• Oil vs heat pump cost — Whether a cold-climate heat pump beats a 85% oil boiler at New Hampshire’s electricity price.
• Gas vs heat pump heating cost — The COP a heat pump needs to beat gas at $1.90/therm.
• Propane vs heat pump cost — Propane at $3.58/gal against a heat pump at 26.78¢/kWh.
• Electric vs gas heat cost — Resistance heat versus gas across every state with a published gas price.
• Propane vs electric heat cost — Propane at $3.58/gal against resistance strips at 26.78¢/kWh.
• Heating oil and propane prices by state (weekly tracker) — Every SHOPP weekly reading behind New Hampshire’s oil and propane figures, with season lows, highs and trend lines.
• Heat pump crossover temperature — Seven named NEEP units at 26.78¢ and $1.90/therm — New Hampshire needs COP 3.92 to beat gas.
• Dual-fuel switchover calculator — Turns New Hampshire’s balance point (above 47°F (COP 3.92 needed against 3.20 available)) into a thermostat changeover setting.
• Heat pump sizing estimator — New Hampshire sits in IECC zone 6A; a January mean near 23°F is the design context for capacity.
• Why is my electric bill so high? — Splits a New Hampshire bill jump into weather (5,608 degree-days last winter), rate and usage.
• Solar panel cost in New Hampshire — The same 26.6¢/kWh July rate driving payback, utilities and rate history for New Hampshire.
• Cost to run a space heater in New Hampshire — 1,500 W at New Hampshire’s winter rate and degree-days — the per-hour and per-winter figure for one room.
• Cost to run a heat pump in New Hampshire — 3,500 W at New Hampshire’s winter rate and degree-days — the per-hour and per-winter figure for one room.
• Cost to run a ductless mini-split in New Hampshire — 2,000 W at New Hampshire’s winter rate and degree-days — the per-hour and per-winter figure for one room.
• Cost to heat a home in South Dakota — Cold-state neighbour on this list: cheapest heat there was natural gas at $10.32/MMBtu.
• Cost to heat a home in Vermont — Cold-state neighbour on this list: cheapest heat there was natural gas at $18.53/MMBtu.