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 11% versus last year and a whopping 43% compared to two years ago
First the good news: the spot index is down 20% from five months ago
Unfortunately, the bad news is the trailing 12-month index hit an all-time high in December
Although energy prices have come down in recent months, lower prices will take time to work their way into consumers pockets
We highlight 2022 as an outlier
Enersection's Residential Energy Index suggests annual residential energy costs in the U.S. are at $5,200 per year, down from $6,500 in June 2022.
Spot prices have peaked, but consumers are on the tail end of the most expensive energy costs in their lifetimes.
To highlight how unusual 2022 was, we visualized the dispersion of the three components of our index - monthly gasoline prices, residential natural gas delivery costs and power prices - over the last 20 years. The data and charts speak for themselves.
Natural Gas Residential Delivered Cost (LDC)
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