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.
According to the U.S. Energy Information Administration, the highest energy consumption of the year is recorded in July, followed by August. That, of course, leads to higher energy costs during this period, but some states just have higher energy costs across the board – including Georgia.
Personal financial website WalletHub recently examined average monthly energy bills in each of the 50 states and the District of Columbia using a special formula that accounts for the following residential energy types: electricity, natural gas, motor fuel and home heating oil.
Georgia ranked No. 4, with only Connecticut, Wyoming, and Massachusetts beating out the Peach State on energy costs.
The least expensive location for energy costs was the District of Columbia, followed by Washington state, Colorado, Oregon, and Arizona, respectively.
Energy Consumption & Costs in Georgia (1=Most Expensive; 25=Avg.):
- Avg. Monthly Energy Bill: $374
- 11th – Electricity Consumption per Consumer
- 7th – Price of Natural Gas
- 30th – Price of Motor Fuel
- 5th – Motor-Fuel Consumption per Driver
You can read the complete report here.