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DENVER (KDVR) — Two studies conducted by different organizations found Colorado is among the top five states in the nation with the most affordable utilities.

Data analysts at puts Colorado in fourth place for cheapest utilities.’s data shows the average household in Colorado pays about $314.80 a month for utilities; that’s $123 less than the state with the highest utility bills, Connecticut, where on average residents pay $438 a month.


On the flip side, analysts over at WalletHub placed Colorado in third. Their data found the average Colorado household spends $269 a month on utilities (’s data included a few additional utility services, including: broadband and streaming services).

“Colorado actually ranked the best when it comes to your average monthly electricity bill. So that means both the retail value and retail price of energy [in Colorado] is cheaper than a lot of other states and more importantly consumption is a little bit lower,” explained Jill Gonzalez, an analyst at WalletHub.

According to WalletHub, residential electricity prices are projected to increase by 2.8% in 2021.