Survey: Wyoming most energy expensive state
Long driving distances and heating homes in cold winters drive up costs
JACKSON HOLE, Wyo. — Get ready to crank up your air conditioner…and utility budget.
July tends to be the hottest month of the year. In the U.S., energy costs eat between 5% and 22% of families’ total after-tax income, with the poorest Americans, or 25 million households, paying the highest of that range. Lower energy prices don’t necessarily equate to savings, though.
Where we live and how much energy we use also factor into the equation. It’s important to consider energy consumption when choosing a place to live, as around 27% of American households have difficulty meeting their energy needs.
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. Their analysis uses a special formula that accounts for the following residential energy types: electricity, natural gas, motor fuel, and home heating oil.
In Wyoming, we are pretty fortunate to pay very affordable rates for electricity. But that’s about the only energy commodity that is affordable in the Cowboy State.
Energy Consumption & Costs in Wyoming (1=Most Expensive; 25=Avg.):
- Avg. Monthly Energy Bill: $738
- 25th – Electricity Consumption per Consumer
- 8th – Natural-Gas Consumption per Consumer
- 1st – Motor-Fuel Consumption per Driver
