NM surprisingly leads the nation with the lowest cost of this: Report

As Americans brace for what could be the hottest summer on record, the personal finance website WalletHub has released its 2024 report on Energy Costs by State. This comprehensive study, along with expert commentary, sheds light on how energy bills vary across the country and what factors contribute to these differences.

According to WalletHub’s analysis, New Mexico stands out as the state with the lowest average monthly energy costs. Residents of New Mexico enjoy an average monthly energy bill of just $376, making it the most cost-effective state for energy consumption. This is in stark contrast to Wyoming, which tops the list with the highest average monthly energy bill of $1,591.

WalletHub’s report compares the average monthly energy bills in each of the 50 states using a special formula that considers various residential energy types, including electricity, natural gas, motor fuel, and home heating oil. Here’s a snapshot of the findings:

States with the Lowest Energy Costs:

  1. New Mexico ($376)
  2. Arizona ($400)
  3. Kansas ($436)
  4. Texas ($437)
  5. Nebraska ($453)
  6. Mississippi ($457)
  7. Florida ($462)
  8. Colorado ($470)
  9. Louisiana ($474)
  10. California ($476)

States with the Highest Energy Costs:

  1. Wyoming ($1,591)
  2. North Dakota ($840)
  3. Iowa ($798)
  4. Montana ($787)
  5. Minnesota ($782)
  6. Massachusetts ($759)
  7. Connecticut ($750)
  8. Alaska ($716)
  9. South Dakota ($709)
  10. Virginia ($694)

The report also highlights various interesting facts about energy consumption across the U.S. For instance, Hawaii has the lowest average monthly consumption of electricity per consumer, which is 3.1 times lower than in Louisiana, the highest. Moreover, Washington boasts the lowest average retail price for electricity, which is 4.2 times lower than Hawaii’s.

In terms of natural gas prices, Idaho residents enjoy the lowest average residential price, which is 7.2 times lower than in Hawaii. When it comes to motor fuel consumption, New York drivers use the least, averaging 2.9 times lower than drivers in Wyoming.

For a detailed look at the rankings and to view the full report, visit WalletHub’s Energy Costs by State 2024.

Expert Tips for Reducing Energy Costs

Experts from WalletHub offer valuable advice on lowering energy bills. A WalletHub analyst, Cassandra Happe points out that simple measures like using energy-efficient light bulbs and moderating air conditioning and heating use can make a difference. Additionally, considering energy costs when planning a move can help families save significantly on their monthly bills.

Steven Hegedus, a Senior Scientist at the Institute of Energy Conversion, University of Delaware, suggests practical tips such as drying clothes on a clothesline instead of using a dryer and conducting home energy audits to identify cost-effective improvements like added insulation and energy-efficient windows.

Justin Perryman, an Adjunct Professor at Washington University School of Law, emphasizes the importance of reducing energy usage and shopping around for lower electricity prices in deregulated markets. He also notes that tax deductions and credits can be effective incentives for households to adopt energy-efficient measures.

With these insights, residents across the U.S. can take steps to manage their energy consumption better and potentially lower their monthly energy costs.


4 thoughts on “NM surprisingly leads the nation with the lowest cost of this: Report”

  1. New Mexico has a temperate climate. We have a few good months where we do not really need added heat or air conditioning. That alone helps with the average. However, since we do have natural gas and oil, our pricing should be lower. New Mexicans should reap from the local natural resources to keep costs down. Also, our homes are on the smaller scale and do not require higher energy usage.

    1. The states shown with the highest is the result of being overun by rich liberals from other areas. Those cali license plates should be of concern…everything will go up.

    2. Well, if it is true, that NM has some of the lowest energy costs, then that is a very good thing. We need some good news in this state. This state has so many issues now, it’s not even funny. Like I’m not kidding. We are dead last for education in the United States and even lower across the globe. We are ranked last for safety in the United States or something like that. We have one of the highest rates of drug use in the country. We are currently one of the epicenters for the Biden border crisis, which as we all know have caused unprecedented influxes of illegal aliens to come into the United States, including criminals, members of drug cartels and people associated with the cartels, terrorists including eight people who were arrested a couple of weeks ago who are associated with ISIS, people who are suspected terrorists and those who are on the terrorist watchlists, as well as criminals, etc. We have like one of the highest suicide rates in the United States, one of the highest inflation rates in the United States, we are now the abortion capital of the United States, if not one of the abortion capitals of the United States and globally. We have a U.S congressional delegation and a U.N delegation(because Tom Udall mainly) who don’t give two cents about us. We have schools in the state who are shoving down the radical leftist gender agenda and woke agenda down children’s and parents’s throats. We have like the highest crime rate in the nation. We have one of the highest poverty rates among certain average New Mexico citizens. Not to mention that we are the U.S state most dependent on federal funds. New Mexico’s birth rate has been declining since at least 2010, as well as young and wealthy people who are leaving the state in droves, not to mention that NM’s population is aging. We have doctors who are either leaving their practice but are remaining in New Mexico, or are leaving the state at alarming rates. Plus, New Mexico’s now the most dangerous U.S state in the entire United States out of all 50 states and territories in the United States in terms of crime and homelessness. By the way, the last part, the fact that New Mexico is now the most dangerous state in the United States for crime, is not a joke. It’s not a joke. I wish I was joking. Unfortunately, I am not joking. New Mexico really is now the most dangerous state in the United States. Yes, you thought that it was New York or California or Illinois or New Jersey or Pennsylvania. It’s neither of them. It’s us. It’s New Mexico. New Mexico is now the most dangerous U.S state out of all 50 states and territories in the country, with Louisiana coming in as the second most dangerous state in the United States (and no, in Louisiana’s case, their ranking has nothing to do with the conservatives there, but I digress). You thought that the most dangerous state in the United States was New York right? Or California? Nope, it’s unfortunately us, New Mexico. New Mexico, us, is the most dangerous state in the United States now. How scary and terrifying is that? I mean, it’s terrifying. I have lived here in New Mexico since October of 2005 when I was in the fifth grade and back then, it wasn’t this bad. The crime and the homelessness to be exact. It was not this bad back then. I mean, we had Bill Richardson as Governor when I moved here and he was pretty bad himself(though he was conservative on economic issues and was a pro-Second Amendment Democrat) overall. But this Governor? Michelle Lujan Grisham? Oh man, she’s worse than him! She makes Richardson look like a saint. I mean, I’m not kidding. He even criticized her before his death for some things including her violating the ethics code or something like that. Well, he did too, so he was actually kind of a hypocrite. But, he criticized a member of his own party, which is a good thing.

      But yeah, the crime and homelessness in New Mexico is so bad now that we are now literally the most dangerous U.S state in the United States of all 50 states and territories in the country. It wasn’t this bad when I moved here some 18 years ago in October of 2005 when I was in the fifth grade. I’m 30 years old now, so think about it. I went to middle school here in New Mexico and I went to high school here in New Mexico and it was bad, like pretty bad then, the crime and stuff like that. But not as bad as it is now. Holy crap! It’s like ten times worse now than then. It’s getting dangerous out there folks. I mean, I have heard that there is a gang running around in like Tularosa and I have even heard that places like La Luz is getting bad with crime too. There was even a shooting at a truck stop in Alamogordo as you are heading towards Tularosa like a month ago, plus there were like five shootings in Alamogordo in the couple of weeks following Lujan Grisham implementing that “public health emergency order” on guns last September of 2023, plus there’s been an increase of thefts across the state, including here in Alamogordo. There’s also been like several fires here too in town, plus I have also heard that Mexican drug cartels are now starting to set operations here in Alamogordo or something like that. So yeah, it’s getting dangerous out there folks. It’s scary you know. It’s never been this bad and now it is. It’s why I am going to move out of this state as soon as possible, hopefully sooner than later. If I have to stay here in New Mexico then unfortunately that is what I will do. But, it’s better if I move out of this state because it’s getting bad here and dangerous here. And my advice to other people in the state especially those of you who live in the state that have common sense is for you guys to leave the state as soon as possible as well. If you decide to stay here and fight against the radical leftist policies in the state or something like that, then more power to you. But, I would rather you leave the state. Just leave and go to a state like Texas or North Carolina and Florida and Mississippi who are better and stuff like that. But it’s up to you. But, it’s just getting bad and dangerous out there folks in this state and stuff like that.

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