Where You’ll Pay the Most in Electricity Costs
August 22, 2014
Home owners may find higher electricity costs are taking a bigger chunk from their wallet. The average price of electricity to residential customers reached its highest point in May than in the past two years, increasing 3.4 percent year-over-year, according to the U.S. Energy Information Administration.
Help Clients Keep Energy Costs Down:
In May 2012, customers were paying an average of 11.90-cents per Kilowatthour nationally. Flash-forward to May 2014, customers are now paying 12.84-cents per Kilowatthour.
The New England region has seen some of the largest price increases year-over-year. Prices in the region have soared 11.31 percent in the past year. The Middle Atlantic had the second highest year-over-year increases at a 5.53 percent increase from May 2013 to May 2014.
The seven most expensive states for electricity costs are:
- New York
- Rhode Island
- New Hampshire
Meanwhile, in these seven states you can expect to pay some of the lowest costs for electricity:
- West Virginia
- North Dakota
Source: “States Where Average Electricity Costs could Electrify Your Wallet,” BUILDER online (Aug. 20, 2014)
Updated: November 23, 2020