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Paying utility bills, including electricity, is a responsibility that many Americans face every month—and that some struggle with.
Nationally, the amount Americans had to pay for electricity in August averaged $185.59, according to a recently released report from LendingTree. However, it turned out that residents of some states faced heavier monthly bills than others.
The five most expensive states had average monthly electricity bills whose costs were 21.6% to 37.1% above the national average, the report said.
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LendingTree said its findings for monthly electric bill costs were based on data from the Energy Information Administration (EIA).
According to LendingTree’s analysis, residents in the following five states had the largest average electricity bills in August:
Connecticut: $254.47
Fall leaves along the Connecticut River in Hartford. Hartford is the capital of the American state of Connecticut. Known for its attractive architectural styles, Hartford is the insurance capital of the United States (iStock / iStock)
Arizona: $252.60
An aerial view shows the downtown skyline during a heat wave on July 15, 2023 in Phoenix, Arizona. The weather forecast for today expects temperatures to reach 115 degrees. The Phoenix area is experiencing record-breaking temperatures like prolo (Brandon Bell/Getty Images/Getty Images)
Texas: $233.38
An aerial view shows the downtown skyline on April 11, 2023 in Austin, Texas. The city of Austin has been ranked as the top destination in the U.S. job market for the second consecutive year, according to data collected by The Wall Street Journal. ((Photo by Brandon Bell/Getty Images) / Getty Images)
Hawaii: $230.80
The entire coastline of Honolulu, Hawaii, including the base of Diamond Head Crater and state park, past the hotel-lined Waikiki Beach toward downtown in the distance, including the suburbs in the hills surrounding downtown. (iStock / iStock)
Alabama: $225.65
Huntsville, Alabama, USA park and cityscape at dusk. (iStock / iStock)
LendingTree found that “usage matters” and reported that some states “may charge high rates” for each kilowatt-hour consumed “but low average monthly bills (and vice versa).”
Utility bills are a major pain point for some Americans
LendingTree’s findings on electric bill costs come based on data from the Census Bureau Household Pulse Survey that 23.4% of Americans were unable to cover all or part of their energy bill in the past year.
The share that felt this rose 1.4 percentage points year-on-year, the report said.
“Even though inflation has slowed in recent months, life is still insanely expensive, and that can make it difficult to pay your bills,” Matt Schulz, chief credit analyst at LendingTree, said in the report. “Many people have had to make difficult decisions to keep the lights on.”
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According to the Bureau of Labor Statistics, headline inflation, as measured by the consumer price index, rose 0.3% month-over-month and 2.7% year-over-year in November.
Buy Online Shop Online A Bankrate.com survey found that 40% of Americans who are married or living with a partner have committed financial infidelity. iStock iStock (iStock / iStock)
For electricity, prices fell by 0.4% month-on-month, but remained 3.1% higher than twelve months ago. Meanwhile, utility gas prices rose 1% from October and 1.8% from November 2023, the CPI data showed.
The need to cover utility bills prompted 34.3% of Americans to curb their spending on necessities — or eliminate some altogether — in at least one case in the previous year, according to LendingTree.
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In September, the Bureau of Labor Statistics reported that U.S. households saw an average of $77,280 in household expenses in 2023. That worked out to about $6,440 per month.
