One and a Quarter Percent

The U.S. Commerce Department reports that American consumers spent around five and a half trillion dollars on goods, in August, on an annualized basis. And ten and a half trillion on services. Total consumer expenditures, adding goods and services together, were therefore just about sixteen trillion.

Of that amount, consumers spent one-fifth of a trillion dollars on residential electric bills, again annualized. This means that electric bills were approximately one and a quarter percent of total consumer expenditures.