Using average annual volumes and monthly pricing data, Enersection created a monthly index tracking average 'Energy Costs' for US households - effectively how much does it cost to heat and power your home and fuel your car
The index suggests Residential Energy Costs are up 18% versus last year and a whopping 51% compared to two years ago (+80% on a 2-year basis two months ago)
Energy Costs may have peaked near-term, largely due to gasoline prices
On a most recent monthly and trailing 12-month pricing basis, U.S. households spend over $6,000 and $5,500, respectfully, on annual on Energy Costs
Enersection's Residential Energy Index suggests annual residential energy costs in the U.S. may soon exceed $6,000 per household.
Highlighting the energy crunch the U.S. and world find themselves in, the index took nearly 20 years increase $2,000 and just 2 years to do so again.
Costs for power, home heating and transportation are up by 18% versus 2021, but increases may have peaked near-term.
Residential natural gas and electricity prices and midgrade gasoline prices drive the index value changes.
Regional and states price difference exist, but the overall trend for state and U.S. energy costs is clear - they are marching higher.
We'll continue to monitor and report on the index going forward.