Macomb Local News

July tends to be the hottest month of the year. Many of us are already cooling down our houses with A/C. But, while you dry your sweat under cool air, you should also consider the month’s higher-than-usual power bill. It 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 finances relative to their location and consumption habits, WalletHub compared the total monthly energy bills in each of the 50 states and the District of Columbia. Their analysis uses a formula that accounts for these residential energy types: electricity, natural gas, motor fuel and home heating oil.

 

Total Energy Costs by State (1-10)

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

Wyoming

$372

$112
(38)

$37
(12)

$221
(1)

$1
(26)

2

Connecticut

$366

$156
(3)

$37
(16)

$126
(37)

$47
(3)

3

Georgia

$349

$154
(4)

$39
(11)

$157
(15)

~ $0
(42)

4

Alabama

$341

$173
(2)

$18
(41)

$150
(17)

~ $0
(39)

5

Mississippi

$340

$147
(9)

$15
(48)

$178
(2)

~ $0
(51)

6

Alaska

$338

$136
(16)

$58
(1)

$107
(49)

$37
(5)

7

Indiana

$337

$129
(25)

$33
(22)

$175
(4)

~ $0
(29)

8

West Virginia

$332

$147
(8)

$24
(33)

$158
(13)

$3
(15)

9

Oklahoma

$331

$132
(19)

$30
(25)

$168
(6)

~ $0
(44)

10

North Dakota

$330

$132
(23)

$20
(38)

$175
(3)

$3
(14)

 

The full report can be found here https://wallethub.com/edu/energy-costs-by-state/4833/