Energy costs play a big role in how expensive it is to run a business, especially with surging prices in recent years. But what you pay varies by where you live.
The Small Business and Entrepreneurship Council recently put out its Energy Cost Index 2009, which ranks all 50 states on their energy costs. The report looks specifically at how much someone pays for a gallon of gasoline at the pump and electricity costs per kilowatt hour. (Data comes from AAA-reported gas prices and the U.S. Energy Information Administration.)
The Council says energy prices are dependent on many factors, such as economic growth, investment in exploration, and government regulations and taxes. The group argues that government regulations involving energy and taxes jack up prices. (You can read stories we’ve done on new energy tax breaks available for businesses and strategies for how businesses can cut their energy usage here and here.)
Here’s a look at the lowest- and highest-cost states in terms of energy prices:
5. West Virginia
Highest Cost States:
47. Rhode Island
49. (tie): New York
Do you think government should regulate energy costs and usage more or less?
Photo: Associated Press