3 States Where Electricity Bills Have Increased the Most
Written by
Chris Adam
Edited by
Jenna Klaverweiden
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One place many consumers look when trying to cut costs is household bills. Utility costs, which can include electricity, water and gas expenses, can quickly take big bites out of your budget.
In fact, per HomeGuide, the average monthly cost for utilities for households in the United States ranges from $500 to $600. According to Forbes, a good target is to spend 8% to 10% of monthly income on utilities, though that could vary based on a number of factors.
Here’s a closer look at the top states where electricity bills have increased the most in recent years and ways to cut back on utility costs.
Where Have Electricity Bills Increased the Most?
When it comes to states where electricity bills have increased the most, the top three can be found in various regions across the country. The three states with the biggest increases were New Jersey, Wyoming and New York.
LendingTree determined the top three states by analyzing data from the U.S. Energy Information Administration. Average monthly bills were compared in August 2023 and August 2024. Here’s how the three states with the biggest increases in electricity bills stacked up.
New Jersey
- Average monthly bill (August 2024): $197.64
- Average monthly bill (August 2023): $162.78
- Increase: 21.4%
Wyoming
- Average monthly bill (August 2024): $114.75
- Average monthly bill (August 2023): $94.98
- Increase: 20.8%
New York
- Average monthly bill (August 2024): $193.40
- Average monthly bill (August 2023): $160.96
- Increase: 20.2%
Top Tips To Save Money
Per LendingTree, if you have debt, one way to manage high utility bills is to look for a debt consolidation loan. You can lower the interest you’re paying by consolidating debt with a personal loan, which could give you extra money to pay the high utility bills.
You can also work to lower your bills by keeping it a bit cooler in the house in the winter and warmer in the summer — especially when you’re not home.
Additionally, there is assistance available to customers who are struggling to pay their bills. It can be as simple as looking on your provider’s website or calling the company to get started. The government’s Low Income Home Energy Assistance Program is another option to consider.
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