Businesses never tire of telling state officials that New Jersey has some of the highest energy costs in the country. And that may be true, if you consider electricity rates before the advent of fracking and cheap natural gas. But a recent report by Wallethub, the online financial services firm, found that New Jersey ranked(with 1 being the cheapest) for energy costs among the 50 states and District of Columbia.
The average New Jersey household spends only $307 per month on energy, according to the study, the largest portion of that going to electricity ($118), ranking the state 21st in that category. The same family would spend only $105 in motor fuel -- the third lowest in the country. The average household spends $65 each month on natural gas -- and we are big consumers of it. We rank 47th among states for natural-gas consumption per total housing units. We also have some of the highest home-heating-oil prices (48), averaging $20.52 per household. (Of course, far fewer New Jerseyans use home heating oil rather than natural gas.)