NEBRASKA -- Grab your blankets, window insulation, and a cup of hot cocoa: This winter is going to be cold and expensive.

The U.S. Energy Information Administration released predictions that heating bills are going to jump as much as 54 percent this winter. In Europe, natural gas prices have risen as much as 500% this past year.

Mid-American Energy decided to give its Nebraska customers a heads up: bills in the midwest could even increase by 46% to even 96% (see press release at end of article). "Global demand is higher [....] and the supply and storage haven't quite kept pace," Geoff Greenwood with Mid American Energy said. Mid American Energy has been taking some precautions to protect customer bills: "That means, locking in advance purchase contracts when gas is less expensive [...] additionally, we have gas storage," he said.

Meanwhile, electric bills are also expected to jump. The EIA predicts a six percent increase, and while Omaha Public Power District can't make any forecasts for Nebraska customers at this time, there are some ways to prepare.

"Having your furnace inspected, especially the heat exchanger, can ensure that harmful gases don't leak into your home," Eric BenSalah of OPPD said. "It also helps for the longevity of the system and its efficiency, which reduces your energy bill."

"The first place to start is your furnace," Greenwood said of winter energy conservation preparation. Greenwood also recommends you set your water tank to 120 degrees or use one of their resources to check your home for efficiency.

It's probably best to prepare now because as Former Nebraska Director of Energy David Bracht said, "energy is changing."

"Utility investments used to be the same for 10 or 20 years, but that's not the case anymore," Bracht said, noting the creation of natural renewables energy (using energy from animal remains); solar energy; wind energy; and even battery storage. "And that's why I'm excited about energy in Nebraska because I think we actually have opportunities in all of those areas."

If you need to apply for financial aid, one place to look is DHHS for the LIHEAP program (1-402-471-3121). The U.S. Department of Housing and Urban Developments also has advice. More assistance programs can be found on MoneyFit.