California energy prices are among highest in the US, new study says. Heat wave won’t help
As a record-breaking heat wave pummels parts of California, state residents are stuck paying some of the highest prices for energy in the United States.
That’s according to a new study by WalletHub comparing the total monthly energy bills in each of the 50 states.
“Get ready to crank up your air conditioner — and utility budget,” WalletHub financial writer Adam McCann wrote in a July 1 article titled “Energy Costs by State (2024).” “Coupled with inflation, this heat wave will eat into many Americans’ wallets.”
California ranked No. 1 on WalletHub’s list of the U.S. states with the highest motor fuel prices per unit in the country, followed by Hawaii and Washington state.
The Golden State came in third in terms of the states with the highest electricity prices per unit, WalletHub said, trailing behind Massachusetts in second place.
People in Hawaii pay the most per unit of electricity in the nation, the personal finance website said,
California ranked No. 1 on WalletHub’s list of the states with the top five highest motor fuel prices in the country.
Here’s how much Californians pay overall for energy:
How much do California residents pay for energy?
Although California has some of the most expensive energy prices per unit in the nation, its residents spend less for energy per month than folks in other states.
California ranked No. 41 on WalletHub’s list ranking U.S. states based on total monthly energy costs with an average monthly energy bill of $476, beating out Nevada, South Carolina and Tennessee.
The list includes electricity, natural gas, motor fuel and home heating oil costs.
On average, Californians pay $145 for electricity per month, WalletHub said. That’s more than Maryland residents but less than people in Pennsylvania.
Golden State residents pay an average of $88 for natural gas per month, which means their bills are higher than those in Georgia but lower than Louisiana’s.
Californians on average pay $197 for motor fuel per month. That’s more than most residents in the country pay, except for people living in Wyoming, Alabama, Mississippi and Missouri.
California is among the states with the lowest average home heating oil costs per month. Folks in the Golden State pay $47 per month, compared to $41 in Georgia and $37 in Louisiana.
Which state has the highest total energy costs?
Wyoming led the pack spot on WalletHub’s 2024 list of the U.S. states with the highest energy costs with an average monthly energy bill of $1,591.
The personal finance site cited the state’s gas and oil consumption per capita as major reasons for its high ranking.
The state also has high heating oil and gas prices, making “Wyoming a particularly costly state,” WalletHub said.
North Dakota took the second spot on WalletHub’s list with an average monthly energy bill of $840, followed by Iowa in third place with a monthly energy bill of $798.
Which top 10 states have highest energy costs in US?
These states rank in the top 10 in terms of having the most expensive total energy costs in the nation, according to WalletHub.
Wyoming
North Dakota
Iowa
Montana
Minnesota
Massachusetts
Connecticut
Alaska
South Dakota
Virginia
How can I get my energy bills lower?
WalletHub analyst Cassandra Happe said that using air conditioning and heat sparingly in conjunction with using energy-efficient light bulbs should reduce your energy consumption.
“Simply living in one of the least energy-expensive states may outweigh any individual measures when it comes to cutting down monthly bills, though,” she wrote.
However, it’s more nuanced than that.
The average cost of keeping cool from June to September is projected to increase by nearly 8% to $719 due to higher summer temperatures., according to the National Energy Assistance Directors Association and the Center for Energy Poverty and Climate.
How did WalletHub come up with its rankings?
WalletHub used data from the U.S. Census Bureau, the U.S. Energy Information Administration and several other databases to determine the energy costs in all 50 states.
The site compared energy bills in each of the 50 states using an equation that accounts for electricity, natural gas, motor fuel and home heating oil.
This story was originally published July 9, 2024 at 12:10 PM with the headline "California energy prices are among highest in the US, new study says. Heat wave won’t help."