Californians Enjoy Some of the Lowest Energy Prices in the Nation

It may not seem like it with gas prices skyrocketing, but Californians enjoy some of the lowest energy prices in the nation, according to one study.

Wallet Hub, a Washington, DC-based financial advice company, found that California ranked ninth in the U.S. for lowest energy prices.

Californians spend an average of $280 a month on energy, the study found. Only Florida, Illinois, New Mexico, Arizona, Washington, Colorado and Washington D.C. residents enjoy lower rates.

The company based their findings on eight key metrics, ranging from the price and consumption of residential electricity to the price and consumption of motor fuel.

Here’s the breakdown of energy consumption and costs in California, according to WalletHub:

• 45th – Price of Electricity
• 3rd – Electricity Consumption per Total Housing Units
• 23rd – Price of Natural Gas
• 23rd – Natural Gas Consumption per Total Housing Units
• 50th – Price of Fuel
• 18th – Fuel Consumption per Driver

There is a caveat, however. Lower prices don’t necessary mean lower costs for consumers, the company said.

In areas such as Southern Louisiana, with scorching summer weather but cheap electricity, households can still end up with higher out-of-pocket costs than those in energy-expensive Northern California, where the temperate climate keeps heating and cooling units idle most of the year.

The company uses 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 to calculate the average monthly energy spending for each state.

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