Electricity Rates
Current and Historical Electricity Rate Data to Help You Understand Trends in Electricity Pricing Nationwide
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Electricity prices vary in each state. We have compiled years of data to find pricing trends around the country. You can see data for all 50 states below, but deregulated states are labeled in each chart/graph.
Hover over a state to see the average rate and percent change in energy pricing.
This chart shows the average kWh price for each state. Rates updated daily.
This chart shows the states with the lowest average kWh price. Rates updated daily.
This chart shows the states with the highest average kWh price. Rates updated daily.
Electricity rates vary significantly across different states in the United States, with the average residential electricity rate being 16.44 cents per kilowatt-hour (kWh). Understanding electricity rates is crucial for consumers to manage their electricity bills and make informed decisions about their energy choices. The electricity rate is influenced by various factors, including energy consumption, state regulations, and access to resources. In this article, we will explore the factors affecting electricity rates, understand electricity rate structures, and discuss the future of electricity rates.
There are several factors that affect electricity rates in your state, some factors you have some control over, like load factor, and some you don’t like the types of energy generation in your state.
The primary factors include energy consumption, state regulations, access to resources, and market conditions. For instance, states with abundant natural resources, such as North Dakota, tend to have lower electricity rates. On the other hand, states with limited resources, such as Hawaii, have higher electricity rates. The cost of generating electricity, transmission, and distribution also plays a huge role in determining electricity rates. Additionally, factors like weather, seasonal demand, and the availability of renewable sources can impact electricity prices.
Your best option is to understand how you can control your electricity pricing, a few small changes in your habits can make a big impact on what your average monthly bill.
Regulated states have a lower average rate overall vs those with energy choice.
Isn't energy deregulation supposed to lower prices? Yes, but there are a lot of variables at work here. So don't fret - deregulation doesn't always mean a higher rate.
For example, Texas (a deregulated state) traditionally has some of the lowest rates in the country.
The Northeast has some of the highest rates in the country, before deregulation and after. These are high population density states, with high demand, and high cost of living. The lower rates in the central states (regulated) also have a smaller demand, cost of living, etc.
The most important takeaway from this data is simple. If you live in a state with energy choice (deregulated) you can lower your electric bill by shopping suppliers and rates to make select the plan that works for you. Create a free, personalized energy account in seconds.
The future of electricity rates is uncertain, with various factors influencing their trajectory. The increasing demand for renewable energy sources, advancements in technology, and changes in government policies will likely impact electricity rates. As the energy market continues to evolve, consumers can expect to see fluctuations in energy rates. However, with the rise of deregulated markets and energy choice, consumers will have more opportunities to compare electricity rates and choose the best energy provider for their needs.
Several states have adopted a deregulated electricity market, offering consumers the power to choose their electricity provider. While Texas has the most widely deregulated market, Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, and Rhode Island all offer different degrees of deregulation.
A deregulated market helps to foster competition amongst providers, driving down electricity rates for consumers and improving customer service and satisfaction. In a deregulated area, residents and business owners stand to benefit from cheaper monthly bills and improved electricity cost.
While commercial electricity rates vary greatly from the average residential electricity rate, they often follow the same trends. This means that in a deregulated market commercial electricity rates are often cheaper due to increased competition.
As the demand for renewable energy increases, many states are investing heavily in the production of wind, solar, and hydroelectric power.
Texas is among the leaders in renewable energy and is #1 in the country for wind energy production, as well as ranking #2 for solar power.
If you live in an area that gets lots of sunlight throughout the year, solar panels might be a good investment for your home or business. Many states offer solar incentives to help alleviate some of the steep costs associated with installation and maintenance. Find out if solar will help reduce your electricity bill here.
According to the Energy Information Administration (EIA), the average household in the United States consumed about 855 kWh per month in 2023.
Louisiana residents tend to consume the most energy, using an average of 1238 kWh power monthly. On the other hand, Hawaii residents typically use the least amount of electricity, with an average of 503 kWh on their monthly bill.
