Markets & Economy

WalletHub: Consumption drives energy costs — not prices

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In 10 states, homeowners’ and single-family renters’ average monthly energy costs are between $330 and $410. Half of these states -- Connecticut ($410), Massachusetts ($352), Rhode Island ($346), Vermont ($342) and Maine ($341) -- are located in the Northeast, according to findings from WalletHub. When determining average energy costs, WalletHub analyzed electricity, natural gas, motor fuel and home heating oil prices, along with consumption volumes. The latter is a key factor in average monthly costs, as a number of states with the highest bills didn’t have the highest prices. Other states with the highest average energy bills included: Wyoming ($355) Alaska ($349) North Dakota ($342) Oklahoma ($334) Georgia ($331) Consumers in the District of Columbia are cited as having the lowest average monthly energy bills at $223. The district is followed by: Colorado ($244) Washington ($245) Oregon ($261) Arizona ($268) New Mexico ($274) Illinois (...