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1 $0.09 per kWh for electricity is the Federal average price in the U.S. 2  $0.93 per therm for gas is the Federal average price in the U.S. 3  Hot water usage estimates: 4  Average shower (8 minutes) = 10 gallons of hot water. Lifetime energy cost is the sum of the discounted value of the annual energy costs based on assumed water heater life of 13 years. 2  Future electricity price trends and a discount rate of 3.2% are based on Federal guidelines.
The average price of utility (piped) gas, at $0.951 per therm, was also lower than the $1.070 per therm spent last year. Electricity prices averaged 19.8 cents per kilowatt hour (kWh), down from the 20.4 cents per kWh paid in August 2014.See chart 1 .). The 19.8 cents per kWh New York households paid for electricity in August 2015 was 39.4 percent more than the national average of 14.2 cents per kWh. In fact, from 2011 to 2014, local area electricity prices in August exceeded the nationwide average by at least 39 percent and as much as 48 percent.