WalletHub: R.I. fifth most energy expensive state

With average monthly energy bills of $346, Rhode Island is the fifth most energy expensive state, according to the latest study by WalletHub. / COURTESY WALLETHUB
With average monthly energy bills of $346, Rhode Island is the fifth most energy expensive state, according to the latest study by WalletHub. / COURTESY WALLETHUB

PROVIDENCE – With average monthly energy bills of $346, Rhode Island is the fifth most energy expensive state, according to the latest study by WalletHub.
The personal finance website compared the average monthly energy bills in each of the 50 states and the District of Columbia to help customers gauge their energy expenses relative to where they live or plan to move.
WalletHub looked at consumption rates and prices of electricity, natural gas, motor fuel and home heating oil to come up with its findings.

While the Ocean State fared well on monthly motor fuel and electricity costs (ranking second and seventh on the list, respectively), it did not do as well on monthly natural gas costs and home heating oil costs (ranking 44th and 49th, respectively).
Monthly motor fuel costs were placed at $95; electricity, at $98; natural gas, $54; and home heating oil, $99, for a total monthly cost of $346.

Although Rhode Island ranked among the bottom five, it did score well on electricity consumption per total housing units, where it ranked fifth lowest.

But price of electricity, natural gas and home heating oil placed the Ocean State among the bottom 10, at 42nd, 45th and 46th, respectively. Its lowest score was in home heating oil consumption per total housing units at 49th.
The District of Columbia was the least expensive state with monthly energy costs of $223. Connecticut was the most expensive state with $410 in monthly energy costs.
Other New England states ranked as follows: New Hampshire ranked the best at 40th with $324 in costs; followed by Maine at 44th with $341; Vermont, 45th with $342; and Massachusetts, 49th with $352.

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WalletHub said it used the following equation to calculate the average monthly energy bill in each state:

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

Data from the U.S. Energy Information Administration, the Federal Highway Administration, the U.S. Environmental Protection Agency and AAA’s Daily Fuel Gauge Report were used to create the rankings.

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