Utah has cheapest electricity in US, study shows - FOX 13 News Utah
What's the buzz? Utah has cheapest electricity in US
SALT LAKE CITY — When it comes to power, Utah is expected to have the cheapest electricity costs in the entire county, according to a new study that looks at predicted electricity bills in 2024.
The study from Texas Electricity Ratings analyzed data from the Environmental Investigation Agency to estimate electricity costs for the upcoming year.
Utah had the lowest predicted electricity bill at $1,047.27, nearly $2,500 less than Hawaii's, the state with the highest predicted costs. The low power costs and ranking comes even as the study shows Utahns are expected to see a 4.5% increase in electric bills over the next two years.
In 2023, Utah residents paid 11.03 per kilowatt-hour for electricity, 1.5 times lower than the national average.
According to VermontBiz, to determine the predicted bills, the study compared costs from Nov. 2022 and 2023 with an annual increase factored in.
STATE WITH LOWEST PREDICTED ELECTRICITY BILLS IN 2024
| RANK | STATE | BILL ESTIMATE |
| 1. | UTAH | $1,047.27 |
| 2. | Wyoming | $1,110.19 |
| 3. | Colorado | $1,194.74 |
| 4. | Montana | $1,210.21 |
| 5. | Illinois | $1,227.15 |
| 6. | New Mexico | $1,253.41 |
| 7. | North Dakota | $1,290.96 |
| 8. | Washington | $1,304.84 |
| 9. | Nebraska | $1,306.60 |
| 10. | Kansas | $1,312.22 |
Related Knowledge Center: ENERGY BASICS: electricity
Electricity is a secondary energy source: it is generated through the conversion of primary energy sources such as natural gas, coal, solar, hydropower, and wind. Electricity’s versatility is not cost-free: a substantial amount of energy is lost in its generation and the cost of storage is high, compared with fuels such as coal, oil and natural gas. The economics of battery technology hold the key to expanded use of renewable sources to generate electricity.