2024-23893. Energy Conservation Program for Consumer Products: Representative Average Unit Costs of Energy

Table 1—Representative Average Unit Costs of Energy for Five Residential Energy Sources (2024)

Type of energy	$ Per million Btu 1	In commonly used terms	As required by test procedure
Electricity	47.36	2 3  16.16 ¢/kWh	$0.1616/kWh
Natural Gas	13.38	$1.34/therm 4 or $13.87/MCF  5 6	$0.00001338/Btu
No. 2 Heating Oil	27.22	$3.74/gallon 7	$0.00002722/Btu
Propane	33.59	$3.07/gallon 8	$0.00003359/Btu
Kerosene	34.37	$4.64/gallon 9	$0.00003437/Btu
Sources: U.S. Energy Information Administration, Short-Term Energy Outlook (July 9, 2024) and Annual Energy Outlook (March 16, 2023).
Notes: Prices include taxes.
1  Btu stands for British thermal units.
2  kWh stands for kilowatt hour.
3  1 kWh = 3,412 Btu.
4  1 therm = 100,000 Btu.
5  MCF stands for 1,000 cubic feet.
6  For the purposes of this table, one cubic foot of natural gas has an energy equivalence of 1,037 Btu.
7  For the purposes of this table, one gallon of No. 2 heating oil has an energy equivalence of 137,381 Btu.
8  For the purposes of this table, one gallon of liquid propane has an energy equivalence of 91,333 Btu.
9  For the purposes of this table, one gallon of kerosene has an energy equivalence of 135,000 Btu.