AC ON BLAST
Texans spend the 3rd lowest amount of money on energy, new report finds
It doesn't have to be 100 degrees for Texans to lambast the singularly most-hated request that could ever be asked of them: to turn down their air conditioner. As it turns out, a new report commends Texas as the third least energy-expensive state in the nation.
According to the new study by personal finance website WalletHub, the average Texan's total energy consumption cost is about $379 a month. Breaking that number down, that means monthly electricity costs average out to about $153, then $68 for natural gas, and $158 for vehicle fuel. Home-heating oil consumption is another factor included in the report, which comes out to zero for the state.
Texas additionally has the fifth-lowest natural gas consumption per consumer, and the third-lowest gas prices in the nation. AAA says the state's average price is $3.13 per gallon, in contrast to the national average of $3.52.
WalletHub compared the average monthly energy bills for every state and the District of Columbia to determine the rankings of the most and least expensive energy costs. Data for the study was collected from the U.S. Census Bureau, Federal Highway Administration, National Highway Traffic Safety Administration, and others.
The rest of the bottom five in the category for least energy-expensive states include Kansas (No. 47) and Nebraska (No. 48) with the same average energy cost of $384; New Mexico in No. 50 with residents spending $373 per month on energy; and residents in the District of Columbia (No. 51) spending the least in the nation at $274 a month.
To compare, Wyoming is the most energy-expensive state in the country, with residents' average total energy costs coming out to $844 a month. They spend $117 a month on electricity, $78 on natural gas, $287 on vehicle fuel, and $362 on home-heating oil consumption.
The top five most energy-expensive states in the U.S. are:
- No. 1 – Wyoming ($844)
- No. 2 – North Dakota ($645)
- No. 3 – Alaska ($613)
- No. 4 – Connecticut ($593)
- No. 5 – Massachusetts ($589)
Karen Clay, a professor of economics and public policy at Carnegie Mellon University, explained why energy costs are higher in some states, like Wyoming and North Dakota, than others.
"Energy costs reflect a combination of factors, including access to resources such as natural gas, coal, sun, and wind," Clay said. "The costs of moving and distributing energy, as well as state policies regarding energy efficiency and environmental impact, also contribute to varying energy costs among states."
The full report and its methodology can be found on wallethub.com.