New Mexico Ranks Best In Monthly Electricity Cost
New Mexico is the eighth least energy-expensive state, according to a recent survey by WalletHub. The highest energy consumption of the year is recorded in July, followed by August, which translates to higher energy costs during this period, according to the U.S. Energy Information Administration.
For a better understanding of Americans’ energy costs relative to their location and consumption habits, the personal-finance website WalletHub compared the average monthly energy bills in each of the 50 states and the District of Columbia using a special formula that accounts for the following residential energy types: electricity, natural gas, motor fuel and home heating oil.
In a list of “Total Energy Costs by State”, New Mexico ranked 44 out of the 50 states and D.C. Connecticut was ranked number one as the most energy-expensive.
New Mexico had a total energy cost of $256 and a monthly natural gas cost of $31. The state had the best monthly electricity cost at $90. South Carolina had the worst at $173.
New Mexico had the third highest motor-fuel consumption per driver at $135. Wyoming had the highest, while D.C. had the lowest amount of motor-fuel consumption per driver.
Energy Consumption & Costs in New Mexico (1=Most Expensive; 25=Avg.):
- Avg. Monthly Energy Bill: $256
- 22nd – Price of Electricity
- 42nd – Electricity Consumption per Consumer
- 42nd – Price of Natural Gas
- 21st – Natural-Gas Consumption per Consumer
- 31st – Price of Motor Fuel