If your air conditioner is getting a work out in the summer heat, then you can expect your pocketbook to start sweating.
A new report found bad news for penny pinchers in the Peach State: Georgia is the 8th most energy-expensive state in the country, according to the personal finance website WalletHub.
The report compared energy bills in all 50 states, plus Washington, D.C. The analysis accounted for residential energy types including electricity, natural gas, motor fuel and home heating oil, according to the report.
“In the U.S., energy costs eat between 5 and 22 percent of families’ total after-tax income, with the poorest Americans, or 25 million households, paying the highest of that range,” according to WalletHub. “And lower energy prices don’t necessarily equate to savings. Where we live and how much energy we use are a big part of the equation.”
After crunching the numbers, WalletHub found that the average household in Georgia pays $302 in energy costs each month.
WalletHub notes that while commercial electricity use has declined amid shutdowns, residential electricity is up. And July is often the hottest month of the year, “which means many people will be forking over larger checks to their power companies,” the report notes.
Here’s a look at how Georgia compares to other states in the top 10:
Connecticut: $372
Massachusetts: $351
Rhode Island: $335
New Hampshire: $329
Alaska: $325
Maine: $324
Wyoming: $315
Georgia: $302
Alabama: $301
Indiana: $295
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