WalletHub study: Maine 7th most expensive energy state
An analysis of “2017's Most & Least Energy-Expensive States” by personal finance website WalletHub ranked Maine as the seventh most expensive energy state.
Comparing the average monthly energy bills in each of the 50 states and the District of Columbia using a special formula accounting for the various energy sources used by residential customers, WalletHub arrived at the following rankings for Maine in terms of energy consumption and costs (with 1=most expensive, 25=average):
- Average monthly energy bill: $308
- Price of electricity: 11th
- Price of natural gas: 4th
- Price of motor fuel: 23rd
- Motor-fuel consumption per driver: 27th
- Home heating-oil consumption per consumer: 1st
The study found that in the United States, energy costs account for between 5% and 22% of families’ total after-tax income, with the poorest Americans, or 25 million households, paying the highest of that range.
It also found that lower energy prices don’t necessarily equate to savings: Where people live and how much energy they use are a big part of the equation. For example, the study found that although electricity is relatively cheaper in southern Louisiana, its scorching summer heat raises costs for residents compared with the temperate climate in more energy-expensive northern California, where heating and cooling units stay idle most of the year.
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