Massachusetts one of the most energy expensive states in the country according to report

People in Massachusetts have been cranking their air conditioners in the last week which is also jacking up their energy bills.

According to WalletHub, in the U.S., energy costs eat between 5% and 22% of families’ total after-tax income, with the poorest Americans, or 25 million households, paying the highest of that range. Lower energy prices don’t necessarily equate to savings, though. Where we live and how much energy we use also factor into the equation. 27% of American households have difficulty meeting their energy needs.

To better understand the impact of energy on our finances relative to our location and consumption habits, WalletHub compared the total monthly energy bills in each of the 50 states and the District of Columbia. Their analysis uses a special formula that accounts for the following residential energy types: electricity, natural gas, motor fuel and home heating oil.

Energy Consumption & Costs in Massachusetts are the 5th highest in the country. Here is a breakdown. (1=Most Expensive; 25=Avg.):

Avg. Monthly Energy Bill: $577
5th – Price of Electricity
7th – Price of Natural Gas
17th – Natural-Gas Consumption per Consumer
14th – Price of Motor Fuel
5th – Home Heating-Oil Consumption per Consumer

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Other New England states didn’t fare much better. Connecticut placed 4th in the U.S. and Rhode Island came in 11th.

District of Columbia (51st), New Mexico (50th), and Nebraska (49th) had the lowest energy bills, all under $400 a month. D.C. was under $300 in the report.

Wyoming easily had the highest with over $700 a month. Alaska followed with $625.

For the full report, please visit:Energy Costs By State