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EIA: US Household spending on home energy fell last year

US average consumer spending on home energy fell $12 billion in 2012 compared with 2011, the Energy Information Administration reported.

Last year’s energy spending was 2.7% of household income, hitting the lowest level in 10 years, EIA said.

The 2012 spending level on home energy reflected lower residential natural gas prices and also lower energy consumption. EIA attributed lower consumption to warmer weather in 2012.

Home energy consumption includes heating, cooling, appliances, electronics, and lighting, but excludes fuels used for transportation and other household utilities.

The US Bureau of Labor Statistics said spending on household energy for 2012 was the eighth largest category of expenditures. Households in the lowest 20% of income (before taxes) spent nearly 6% of income on home energy bills, while households in the highest 20% of income (before taxes) spent less than 3% of their income on home energy bills.

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