Wyoming's $1,591 Energy Bills: How Green Policies In Warm States Are Forcing Families To Flee To The Frozen North

According to a report from WalletHub published on July 1, 2024, consumers in Wyoming pay an average of $1,591 annually for electricity. That’s more than four times the cost of electricity in the lowest-cost states. Yes, Wyoming has long winters, but so do North Dakota, Iowa, Colorado, Utah, and numerous other states, with average electricity bills that are half of Wyoming’s or less. 

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What makes Wyoming so expensive? It’s a combination of high consumption and state policies. However, other states with relatively high consumption don’t pay nearly as much. North Dakota residents pay an average of $840 a month, and Iowa residents, with extreme cold in winter and heat in summer, pay an average of $798 annually.

Where is electricity the cheapest? The answer might surprise you. New Mexico has the lowest electricity prices, with just $376, followed by Arizona, with average bills of $400 annually. Before chalking it up to a milder climate, remember that 90-degree lows are common in Phoenix and other parts of Arizona. 

Arizona’s average temperature is 85 degrees or above for eight months of the year, from early March through mid-November. What residents could save on heating, they’ll spend on air conditioning. 

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State policies come into play. In Texas, where energy is deregulated, encouraging both choice and competition, residents pay an average of just $437 annually, making it one of the lowest total energy bills in the country. All energy providers use at least a portion of green (solar or wind) energy, which helps to keep costs down. 

Are people leaving Wyoming to pay cheaper energy bills? There’s no research to show that there’s a mass migration. However, if you’re in the market for a home, you’ll need to weigh those costs before making the move. Moving to Texas instead of Wyoming could mean savings of nearly $100 a month. While it’s substantial, it’s not a single deciding factor, as the total cost of living, job opportunities, community amenities, and more come into play. 

Whether you’re moving from Wyoming to save on electricity or ready to move to other low-cost parts of the country, you can find the best online mortgage brokers or a step-by-step guide to getting a mortgage. 

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