With an average monthly energy bill of $404 per consumer, Connecticut is the most energy expensive state in the nation, according to a new analysis.
Using a formula that accounts for residential energy sources including electricity, natural gas, motor fuel and home heating oil, analysts at WalletHub compared the average monthly energy bills in each of the 50 states and the District of Columbia. Connecticut ranked at the top of the list, with other New England states close behind. The 10 most expensive states in the analysis, after Connecticut, were Massachusetts, Rhode Island, Vermont, Georgia, North Dakota, Maine, New Hampshire, Indiana and Mississippi. Among the least expensive energy states for consumers were Oregon, Colorado and Washington, where the average monthly energy bill was $218.
Connecticut ranked third in the price of home heating oil and second highest in the nation for home heating oil consumption per consumer, for an overall ranking as highest in the nation for home heating oil costs.
Regarding electricity consumption, as a relatively small state, Connecticut ranked 37th. However, for the price of electricity it ranked third, for an overall ranking of seventh when the two stats were combined for the overall Monthly Electricity Cost category.
“Connecticut ranked as the most energy expensive state mainly due to its high retail prices for energy,” analyst Jill Gonzalez told CT by the Numbers. “The state has the third highest retail price for electricity and heating oil at $0.20 per kWh and almost $4 per gallon, respectively. Natural gas isn’t cheap either, ranking 14th highest, at $14 per thousand cubic feet. These prices paired with high heating consumption in the winter months put Connecticut on top of these rankings.”
The website notes that energy costs account for 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.
Sources used to create the rankings, according to WalletHub, were collected from the U.S. Energy Information Administration, Federal Highway Administration, Environmental Protection Agency (EPA) and AAA’s Daily Fuel Gauge Report.
The report was issued this month, as July typically produces the highest energy bills for consumers.