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According to a recent report released by WalletHub, the high energy burdens faced by one quarter of U.S. households are a cause for concern. These households spend more than 6% of their income on utility bills. This highlights the financial strain that costs can place on American families.
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In light of this issue, WalletHub has analyzed data to determine the most and least energy-expensive states in 2023. This sheds light on the impact of energy consumption and costs across the nation.
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How does the Hoosier State perform with energy costs?
Among the states analyzed, Indiana emerged as a state with moderate energy expenses. The average monthly energy bill in Indiana was reported at $545, placing the state at an average ranking of 25 in terms of costs. The analysis further revealed that Indiana ranked 17th in terms of the price of electricity, 23rd in electricity consumption per consumer, 38th in the price of natural gas, 19th in natural gas consumption per consumer, 14th in the price of motor fuel, and 7th in motor fuel consumption per driver.
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|
Overall Rank
10 |
Total Energy Cost
$545 |
Monthly Electricity Cost
$142 (22) |
Monthly Natural-Gas Cost
$71 (35) |
Monthly Motor-Fuel Cost
$199 (3) |
Monthly Home Heating-Oil Cost
$133 (23) |
|---|
Energy Consumption & Costs in Indiana (1=Most Expensive; 25=Avg.):
- Avg. Monthly Energy Bill: $545
- 17th – Price of Electricity
- 23rd – Electricity Consumption per Consumer
- 38th – Price of Natural Gas
- 19th – Natural-Gas Consumption per Consumer
- 14th – Price of Motor Fuel
- 7th – Motor-Fuel Consumption per Driver
As we approach another summer with predictions of sweltering heat across many parts of the country, coupled with the ongoing issue of high inflation, the financial impact of energy costs becomes even more pronounced. Approximately 27% of American households struggle to meet their needs.
