WASHINGTON — Colorado, Washington, and Oregon took the top three spots in a study of the cheapest energy expenditures across the 50 states. Conducted by WalletHub, a financial website business owned by Evolution Finance Inc., the states placed 50th, 49th, and 48th, respectively.
Although it may sound backwards, this ranking was one that showed greater value in earning a higher number that was lower on the list. For the western region states as defined by The NEWS, Wyoming ranked first with an estimated $372 total energy cost. Alaska ranked sixth, Utah 22nd, Nevada 23rd, Idaho 27th, California 28th, Montana 31st, Arizona 38th, Hawaii 40th, New Mexico 43rd, Oregon 48th, Washington 49th, and Colorado 50th with an estimated $252 total energy cost.
The information compiled for this ranking from WalletHub was compiled from the U.S. Census Bureau, U.S. Energy Information Administration, the Federal Highway administration, the American Automobile Association, the National Highway Traffic Safety Administration, and The Regents of the University of Michigan.
“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 followed a specific equation,” said the company.
Total energy cost took in to account monthly electricity cost, monthly natural gas cost, monthly motor fuel cost, and monthly home heating oil cost.
Publication date: 11/14/2018