The following is a press release from WalletHub:
Americans will be wiping sweat off their foreheads this month, so get ready to crank up those air conditioners. July tends to be the hottest month of the year in the contiguous U.S., and as a result it has the highest energy consumption. With mercury rising, consumers can expect the heat to drain not only their energy supply but also their wallets.
In the United States, 7.1 percent of the average consumer’s total income is spent on energy costs, including fuel, natural gas and electricity. And during the summer, when many Americans undergo major life transitions such as relocating to start a new job or start a family, the difference in energy costs among states becomes an important financial consideration.
Keep in mind that lower prices don’t always equate with lower costs, as consumption is a key determinant in the total amount of an energy bill. In places with scorching summer weather but cheaper electricity like Southern Louisiana, households might end up with higher out-of-pocket costs than those in energy-expensive Northern California, where the temperate climate keeps heating and cooling units idle most of the year.
To make an informed decision, WalletHub has identified the Most & Least Energy-Expensive States. By doing so, consumers living in or planning to move to states with the steepest energy costs can effectively minimize their expenses while staying cool under the sun.
To help consumers prepare for costly energy bills, WalletHub compared the 50 U.S. states and the District of Columbia based on their tendency to be the most and least energy-efficient. We used six key metrics to explore a number of different factors, among them the price and consumption of electricity as well as the price of fuel at the pump and number of miles driven. By doing so, consumers can make informed decisions about their energy costs, which eat about 7.1% of the average consumer’s total income.
Energy Expenses in Washington (1=best)
- 2nd – Price of Electricity
- 34th – Electricity Consumption per Consumer
- 27th – Price of Natural Gas
- 39th – Natural Gas Consumption per Consumer
- 48th – Price of Fuel
- 4th – Fuel Consumption per Driver
For the rankings of every state, visit WalletHub’s website.
