Whether you’re paying the heating bill for your tenant or you’ve noticed that the summer heat has increased your own energy bills, you’re feeling it! According to a recent report from WalletHub, energy costs can consume between 5 & 22 percent of a family’s total after-tax income. To that end, they crunched the numbers to determine the most and least energy expensive states. They looked at monthly energy bills in all 50 states (and D.C.) then utilized a special formula that accounted for the following residential energy types: electricity, natural gas, motor fuel and home heating oil. Be sure to take a look at the complete list. It might not appear as you would expect.
“…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. For instance, 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…”