See Where RI Ranks Among Most Energy-Expensive States

GoLocalProv News Team

See Where RI Ranks Among Most Energy-Expensive States

RI is ranked as the 29th most energy-expensive state
When it comes to energy expenses, Rhode Island is ranked in the middle of the pack.

According to a recent study completed by WalletHub, Rhode Island has the 29th highest energy costs in the U.S. at $302 per month.

“In the U.S., energy costs eat between 5 and 22 percent of families’ total after-tax income, with the poorest Americans, or 25 million households, paying the highest of that range. And 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,” said WalletHub.

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RI’s Rankings

33rd Highest at $117 - Monthly Electricity Cost

6th Highest at $48 - Monthly Natural Gas Cost

2nd Lowest at $101- Monthly Motor Fuel Cost

6th Highest at $37 - Monthly Home Heating-Oil Cost

5th - Highest Electricity Price

48th - Lowest Electricity Consumption per Consumer

49th - Lowest Motor-Fuel Consumption per Driver

 

The Rankings

Rhode Island is ranked directly behind Idaho and California, who rank 27th and 28th respectively.

RI is ranked ahead of North Carolina and Montana, who rank 30th and 31st respectively.

Wyoming is ranked as the most expensive state for energy, while the District of Columbia is ranked as the least.

See the Full Rankings in the Map Below

Source: WalletHub

 

The Method

In order to determine the most and least energy-expensive states, WalletHub compared the average monthly energy bills in each of the 50 states and the District of Columbia using the following equation:

(Average Monthly Consumption of Electricity * Average Retail Price of Electricity) + (Average Monthly Consumption of Natural Gas * Average Residential Price of Natural Gas) + (Average Monthly Consumption of Home Heating Oil * Average Residential Price of Home Heating Oil) + (Average Motor-Fuel Price * (Miles Traveled/Average Motor-Fuel Consumption/Number of Drivers in the State)) = Average Monthly Energy Bill in the State


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