RI Ranked 22nd Most Energy Expensive State in U.S.
Monday, July 08, 2019
How much is the use of energy costing Rhode Islanders?
According to a recent study completed by WalletHub, Rhode Island is the 22nd most energy expensive state in the country. The good news may be that Rhode Island is the least expensive in New England.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“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,” writes WalletHub.
RI’s Energy by the Numbers
- Total Energy Costs - $306
- Monthly Electricity Cost - $112
- Monthly Natural Gas Cost - $52
- Monthly Motor Fuel Cost - $100
- Monthly Home Heating Oil Cost - $41
- 48th - Lowest Electricity Consumption per Consumer
- 48th - Lowest Motor-Fuel Consumption per Driver
- 5th - Highest Home Heating-Oil Price
The Rankings
Rhode Island Is ranked behind Maryland and Idaho, who rank 20th and 21st overall.
RI ranks ahead of Minnesota and South Carolina, who rank 23rd and 24th respectively.
The most energy expensive state is Connecticut, while the least energy expensive state is the District of Columbia.
See the Rankings in the Map Below
The Method
In order to determine the most and least energy-expensive states, WalletHub compared the average monthly energy bills in each of the 50 states and the District of Columbia using the following equation:
(Average Monthly Consumption of Electricity * Average Retail Price of Electricity) + (Average Monthly Consumption of Natural Gas * Average Residential Price of Natural Gas) + (Average Monthly Consumption of Home Heating Oil * Average Residential Price of Home Heating Oil) + (Average Motor-Fuel Price * (Miles Traveled/Average Motor-Fuel Consumption/Number of Drivers in the State)) = Average Monthly Energy Bill in the State
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