We in the US, because of an export ban thats been in place since the 70s enjoy the lowest wholesale energy prices in the world but that's about to change dramatically because they're about to start exporting natural gas.
A lot of the impact depends on the weather. Recently the winter weather in large parts of the US has been milder than the average but natural gas (and electricity) prices are likely to rise more the colder (and likely also hotter, in the summer) it gets as local customers start competing with export for the same LNG. The shift may take more time to effect prices if weather gets milder and demand falls. But if not wages will have to rise or many people will not have any options but to move. Nobody knows where they can go if they lose affordable housing as its unlikely to be replaced with more affordable housing.
The impact is likely to be felt the most in those
large parts of the US where most of the housing stock is older, built when energy was cheap and wages higher in relative terms than they are today.
Most US homes built before the 1980s or 90s are not very well insulated with construction techniques which are no longer seen in many other cold winter areas. Many commercial buildings also lack adequate insulation.
Its not a little thing. Many older Americans unable to afford heating (and cooling) may be in grave danger of freezing to death (or dying of heatstroke in the summer). Their homes may become physically dangerous to live in without energy (or retrofits) they can't afford. But, well connected lobbyists and PR pros claim this is "our energy moment", and frame the US as becoming the new Saudi Arabia, exporting energy to quench the thirst of Asia and the rest of the world until its gone. A series of articles in the New York Times revealed that some of this is hype, with the natural gas reserves overestimated and investors being led into a bubble.
Regardless of how much energy is actually there, nobody seems to be expecting this change, except the energy and construction industries. Construction.. is expected to rise as older postwar buildings are replaced.
Even areas like California with relatively mild winters may see changes because the price of electricity there like everywhere else in the US, basically tracks natural gas prices.