2019’s Most & Least Energy-Expensive States
2:58 AMPosted by: Adam McCann
Get ready to crank up your air conditioner — and utility budget. July tends to be the hottest month of the year. So if you’re trying to beat the heat, this month’s higher-than-usual power bill could burn a hole through your wallet.
In the U.S., energy costs eat between 5 and 22 percent of families’ total after-tax income, with the poorest Americans, or 25 million households, paying the highest of that range. And lower energy prices don’t necessarily equate to savings. Where we live and how much energy we use are a big part of the equation.
To better understand the impact of energy on our finances relative to our location and consumption habits, WalletHub compared the total monthly energy bills in each of the 50 states and the District of Columbia. Our analysis uses a special formula that accounts for the following residential energy types: electricity, natural gas, motor fuel and home heating oil. Read on for our findings, tips and insight from a panel of experts, and a full description of our methodology.
Main Findings Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/4833/geochart-energyexpensive.html" width="556" height="347" frameBorder="0" scrolling="no"></iframe> <div style="width:556px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2KQgn2o>
Total Energy Costs by State
| Overall Rank* | State | Total Energy Cost | Monthly Electricity Cost (Rank) | Monthly Natural-Gas Cost (Rank) | Monthly Motor-Fuel Cost (Rank) | Monthly Home Heating-Oil Cost (Rank) |
|---|---|---|---|---|---|---|
| 1 | Connecticut | $373 | $154(4) | $41(14) | $123(39) | $55(4) |
| 2 | Wyoming | $363 | $114(33) | $41(15) | $206(1) | $1(27) |
| 3 | Alaska | $359 | $145(8) | $70(1) | $108(48) | $37(7) |
| 4 | Georgia | $344 | $148(5) | $43(12) | $153(13) | $0(44) |
| 5 | Massachusetts | $336 | $125(27) | $52(8) | $116(45) | $44(5) |
| 6 | Indiana | $333 | $127(25) | $36(21) | $169(4) | $1(29) |
| 7 | Alabama | $333 | $170(1) | $19(41) | $143(18) | $0(39) |
| 8 | Maine | $332 | $111(40) | $6(49) | $136(25) | $79(1) |
| 9 | Oklahoma | $331 | $131(22) | $33(25) | $166(7) | $0(46) |
| 10 | New Hampshire | $329 | $135(17) | $17(45) | $111(47) | $67(2) |
| 11 | Mississippi | $328 | $146(7) | $16(46) | $165(8) | $0(50) |
| 12 | West Virginia | $326 | $139(13) | $24(37) | $160(9) | $2(17) |
| 13 | North Dakota | $320 | $133(20) | $23(38) | $159(10) | $4(13) |
| 14 | Nevada | $319 | $123(28) | $29(31) | $168(6) | $0(32) |
| 15 | California | $319 | $107(45) | $35(23) | $177(2) | $0(41) |
| 16 | Missouri | $317 | $134(19) | $36(22) | $147(16) | $0(38) |
| 17 | Utah | $315 | $93(49) | $54(5) | $169(5) | $0(33) |
| 18 | Kansas | $311 | $129(24) | $44(11) | $138(22) | $0(43) |
| 19 | Vermont | $311 | $115(32) | $16(47) | $123(38) | $56(3) |
| 20 | Maryland | $310 | $139(12) | $38(19) | $126(33) | $8(12) |
| 21 | Idaho | $309 | $120(30) | $30(27) | $157(11) | $2(20) |
| 22 | Rhode Island | $306 | $112(39) | $52(7) | $100(50) | $41(6) |
| 23 | Minnesota | $306 | $109(42) | $41(16) | $154(12) | $2(18) |
| 24 | South Carolina | $304 | $169(2) | $16(48) | $118(41) | $0(31) |
| 25 | Michigan | $303 | $109(44) | $54(4) | $140(20) | $1(26) |
| 26 | Kentucky | $303 | $130(23) | $24(35) | $147(15) | $0(30) |
| 27 | Delaware | $302 | $147(6) | $30(28) | $117(42) | $8(11) |
| 28 | Pennsylvania | $300 | $122(29) | $41(13) | $116(44) | $20(8) |
| 29 | South Dakota | $298 | $134(18) | $24(34) | $137(24) | $2(21) |
| 30 | Arizona | $297 | $143(9) | $17(43) | $137(23) | $0(48) |
| 31 | Montana | $297 | $114(34) | $32(26) | $149(14) | $2(22) |
| 32 | Texas | $295 | $140(11) | $20(39) | $134(28) | $0(51) |
| 33 | New Mexico | $294 | $91(51) | $30(29) | $173(3) | $0(47) |
| 34 | Wisconsin | $293 | $109(41) | $39(17) | $142(19) | $3(15) |
| 35 | Ohio | $293 | $113(37) | $45(9) | $132(30) | $3(16) |
| 36 | New Jersey | $292 | $113(36) | $53(6) | $117(43) | $10(10) |
| 37 | North Carolina | $290 | $132(21) | $17(44) | $140(21) | $2(23) |
| 38 | Virginia | $290 | $136(16) | $25(33) | $124(36) | $4(14) |
| 39 | Oregon | $288 | $113(35) | $27(32) | $146(17) | $1(24) |
| 40 | Nebraska | $288 | $118(31) | $34(24) | $135(26) | $0(35) |
| 41 | Florida | $287 | $156(3) | $4(51) | $127(31) | $0(45) |
| 42 | Iowa | $286 | $113(38) | $37(20) | $135(27) | $1(25) |
| 43 | New York | $284 | $101(46) | $59(2) | $104(49) | $20(9) |
| 44 | Tennessee | $283 | $138(15) | $19(40) | $126(32) | $0(36) |
| 45 | Illinois | $281 | $98(47) | $58(3) | $125(34) | $0(37) |
| 46 | Hawaii | $279 | $142(10) | $4(50) | $133(29) | $0(49) |
| 47 | Arkansas | $275 | $127(26) | $24(36) | $123(37) | $0(40) |
| 48 | Louisiana | $271 | $138(14) | $18(42) | $115(46) | $0(42) |
| 49 | Washington | $265 | $109(43) | $29(30) | $125(35) | $2(19) |
| 50 | Colorado | $251 | $91(50) | $38(18) | $122(40) | $0(34) |
| 51 | District of Columbia | $204 | $93(48) | $45(10) | $66(51) | $1(28) |
*No. 1 = Most Energy-Expensive
According to the U.S. Energy Information Administration, the highest energy consumption of the year is recorded in July, followed by August. That leads to higher energy costs during this period. For advice on reducing our dependence on traditional energy sources and cutting costs, we asked a panel of energy and policy experts to share their thoughts on the following key questions:
- What are some good tips for saving money on energy bills?
- What makes energy costs higher in some states than in others?
- Are tax deductions and credits effective at incentivizing households to be more energy-efficient?
- Do you believe the government should continue to provide energy assistance to low-income households? If so, what’s the best way?
- Have recent regulatory changes made by the Trump administration begun to bring coal back?
Michael Wetzstein Professor, Department of Agricultural Economics, Purdue University
Daniel Matisoff Ph.D. – Associate Professor, Georgia Institute of Technology
Reinhard Radermacher Ph.D. – Minta Martin Professor, University of Maryland
Michael Oristaglio Director, Energy Studies Multidisciplinary Academic Program, Yale University
Michael Wetzstein Professor, Department of Agricultural Economics, Purdue University
Daniel Matisoff Ph.D. – Associate Professor, Georgia Institute of Technology
Reinhard Radermacher Ph.D. – Minta Martin Professor, University of Maryland
Michael Oristaglio Director, Energy Studies Multidisciplinary Academic Program, Yale UniversityIn order to determine the most and least energy-expensive states, WalletHub compared the average monthly energy bills in each of the 50 states and the District of Columbia using the following equation:
(Average Monthly Consumption of Electricity * Average Retail Price of Electricity) + (Average Monthly Consumption of Natural Gas * Average Residential Price of Natural Gas) + (Average Monthly Consumption of Home Heating Oil * Average Residential Price of Home Heating Oil) + (Average Motor-Fuel Price * (Miles Traveled/Average Motor-Fuel Consumption/Number of Drivers in the State)) = Average Monthly Energy Bill in the State
Sources: Data used to create this ranking were collected from the U.S. Census Bureau, U.S. Energy Information Administration, Federal Highway Administration, American Automobile Association, Insurance Institute for Highway Safety and The Regents of the University of Michigan.
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