U.S. commercial electricity prices began the year at nearly 13 cents per kilowatt-hour. This national average conceals a regional spread of nearly seven cents, with Northeast businesses paying far more than their Texas counterparts. The following statistics detail the forces shaping costs for every sector of the economy.
Key Takeaways
- In 2023, average U.S. commercial electricity price was 12.58 cents/kWh, up 3.9% from 2022.
- Northeast U.S. commercial prices averaged 16.24 cents/kWh in 2023.
- California commercial electricity price 2023: 20.15 cents/kWh, highest state.
- EIA forecasts U.S. residential prices to rise 2.4% annually to 2025, reaching 17.5 cents/kWh.
- Global electricity demand growth projected at 3.4% in 2024, pressuring prices per IEA.
- Natural gas prices explain 60% of U.S. wholesale electricity price variance 2023.
- U.S. residential electricity prices increased 93% from 1980 to 2023, adjusted for inflation.
- From 2000-2023, EU household prices rose 120% nominally.
- U.S. average price 1990: 7.8 cents/kWh residential, 2023: 16.13 cents/kWh.
- In 2023, U.S. industrial electricity price averaged 8.07 cents/kWh, up 1.7% from 2022.
- Southeast U.S. industrial prices 2023: 6.45 cents/kWh average.
- California industrial price 2023: 12.34 cents/kWh, high due to regulations.
- In 2023, the average U.S. residential electricity price reached 16.13 cents per kWh, a 6.3% increase from 2022 driven by higher natural gas costs.
- Hawaii had the highest U.S. residential electricity price in 2023 at 42.34 cents per kWh, primarily due to reliance on imported oil.
- U.S. residential electricity prices averaged 15.95 cents per kWh in Q4 2023, up 2.1% quarter-over-quarter amid winter demand.
U.S. commercial electricity averaged 12.58 cents per kWh in 2023, rising 3.9 percent year over year.
Related reading
01 · Category
Commercial Prices23 stats
01
In 2023, average U.S. commercial electricity price was 12.58 cents/kWh, up 3.9% from 2022.
02
Northeast U.S. commercial prices averaged 16.24 cents/kWh in 2023.
03
California commercial electricity price 2023: 20.15 cents/kWh, highest state.
04
U.S. commercial sector prices rose 4.2% YoY in Q4 2023 to 12.89 cents/kWh.
05
Texas commercial prices 2023 average: 9.87 cents/kWh, competitive market.
06
In 2022, U.S. average commercial price was 12.11 cents/kWh.
07
Hawaii commercial electricity price 2023: 37.56 cents/kWh, import dependent.
08
Midwest commercial prices 2023: 10.34 cents/kWh, up 2.8%.
09
U.S. commercial electricity sales totaled 1,380 billion kWh in 2023 at average 12.58 cents/kWh.
10
South U.S. commercial prices averaged 11.23 cents/kWh in 2023.
11
During 2023 summer, U.S. commercial prices peaked at 13.12 cents/kWh in July.
12
Connecticut highest commercial price state 2023: 18.92 cents/kWh.
13
EIA forecasts U.S. commercial prices at 13.1 cents/kWh for 2024.
14
West region commercial prices 2023: 14.67 cents/kWh average.
15
Florida commercial electricity price 2023: 10.89 cents/kWh.
16
U.S. commercial bills averaged $2,450per customer annually in 2023.
17
North Dakota lowest commercial price 2023: 7.89 cents/kWh.
18
In Q1 2024, U.S. commercial prices averaged 12.95 cents/kWh, up 2.9% YoY.
19
EU commercial electricity prices in H1 2023 averaged €0.22/kWh.
20
Germany's 2023 non-household electricity price: €0.28/kWh.
21
UK business electricity price 2023 average: £0.24/kWh.
22
France commercial price 2023: €0.18/kWh, nuclear advantage.
23
Italy 2023 commercial electricity: €0.26/kWh.
Interpretation
Commercial Prices Interpretation
While U.S. businesses saw their power bills climb to a national average of 12.58 cents per kilowatt-hour in 2023, their European counterparts were quietly envious, paying nearly double that rate as they grappled with prices often exceeding 20 cents per kilowatt-hour.
02 · Category
Factors and Trends18 stats
01
EIA forecasts U.S. residential prices to rise 2.4% annually to 2025, reaching 17.5 cents/kWh.
02
Global electricity demand growth projected at 3.4% in 2024, pressuring prices per IEA.
03
Natural gas prices explain 60% of U.S. wholesale electricity price variance 2023.
04
Renewables share to cut EU wholesale prices 15% by 2030.
05
Carbon pricing to add €0.02-0.05/kWh to EU residential prices by 2030.
06
U.S. residential prices sensitivity: 10% gas price rise adds 0.8 cents/kWh.
07
Heatwaves increased U.S. summer 2023 prices by 20%.
08
Transmission costs rose 12% in U.S. 2020-2023, impacting retail prices.
09
Russia's gas cutoff caused EU prices to triple in 2022.
10
Solar PV costs fell 85% 2010-2023, lowering future wholesale prices.
11
Demand response reduced peak U.S. prices by 10-15% in 2023.
12
Battery storage to reduce California peak prices 30% by 2026.
13
Fuel costs 55%, generation 20%, distribution 25% of U.S. residential bills 2023.
14
Net metering reduces U.S. residential bills by average $200/year.
15
LNG exports raised U.S. gas prices 20% in 2023, flowing to electricity.
16
EU ETS carbon price averaged €80/tonne 2023, adding €0.01/kWh.
17
Weather normalization shows U.S. residential prices up 5.1% in 2023.
18
EV charging to add 5-10% to peak demand, raising prices 2-4% by 2030.
Interpretation
Factors and Trends Interpretation
While America’s long-term electricity price forecast hums a steady, expensive tune, it's the chaotic short-term band of natural gas, extreme weather, and global drama that really drives the meter wild.
03 · Category
Historical Trends20 stats
01
U.S. residential electricity prices increased 93% from 1980 to 2023, adjusted for inflation.
02
From 2000-2023, EU household prices rose 120% nominally.
03
U.S. average price 1990: 7.8 cents/kWh residential, 2023: 16.13 cents/kWh.
04
UK residential prices from £0.08/kWh in 2000 to £0.28/kWh in 2023.
05
Global electricity prices doubled from 2010-2023 per IEA data.
06
U.S. industrial prices fell from 5.2 cents/kWh in 2000 to 4.1 in 2016 then rose to 8.07 in 2023.
07
California residential prices from 12 cents/kWh 2000 to 28.39 cents/kWh 2023.
08
Germany's household prices from €0.12/kWh 2000 to €0.40/kWh 2023.
09
Texas residential steady at ~14 cents/kWh from 2010-2023.
10
U.S. wholesale prices averaged $35/MWh 2010-2019, spiked to $41/MWh 2023.
11
EU average residential price 2019: €0.20/kWh, 2023: €0.28/kWh post-crisis.
12
From 2015-2023, U.S. residential prices up 25% cumulatively.
13
France stable residential prices ~€0.15-0.25/kWh 2000-2023 due to nuclear.
14
Asia-Pacific residential prices grew 4% annually 2010-2023.
15
U.S. commercial prices from 9.5 cents/kWh 2000 to 12.58 cents/kWh 2023.
16
Italy residential prices doubled from €0.15/kWh 2010 to €0.36/kWh 2023.
17
Lowest U.S. residential price ever 1960: 2.9 cents/kWh nominal.
18
China industrial prices rose 50% from 2015-2023.
19
Nordics hydro-enabled stable prices ~€0.05-0.15/kWh 2000-2023.
20
U.S. inflation-adjusted residential prices flat 1990-2020, then up 20% to 2023.
Interpretation
Historical Trends Interpretation
It seems our global love affair with electricity has become a tragically expensive romance, with prices everywhere sprinting upward while waving the receipts for decades of underinvestment, geopolitical chaos, and the awkward transition to cleaner energy in our faces.
More related reading
04 · Category
Industrial Prices22 stats
01
In 2023, U.S. industrial electricity price averaged 8.07 cents/kWh, up 1.7% from 2022.
02
Southeast U.S. industrial prices 2023: 6.45 cents/kWh average.
03
California industrial price 2023: 12.34 cents/kWh, high due to regulations.
04
Texas industrial electricity 2023: 6.78 cents/kWh, ERCOT market.
05
U.S. industrial prices Q4 2023: 8.23 cents/kWh, up 1.2% QoQ.
06
In 2022, national average industrial price was 7.93 cents/kWh.
07
Washington state lowest industrial price 2023: 4.12 cents/kWh, hydro power.
08
Midwest industrial prices 2023: 6.89 cents/kWh.
09
U.S. industrial sales 2023: 990 billion kWh at 8.07 cents/kWh average.
10
Northeast industrial prices highest 2023: 9.67 cents/kWh.
11
Summer 2023 U.S. industrial peak price: 8.45 cents/kWh July.
12
Louisiana industrial price 2023: 5.23 cents/kWh, natural gas rich.
13
EIA 2024 industrial price forecast: 8.4 cents/kWh U.S.
14
West South Central industrial 2023: 6.12 cents/kWh.
15
Idaho industrial electricity 2023: 4.56 cents/kWh.
16
Q1 2024 U.S. industrial average: 8.31 cents/kWh, up 1.5%.
17
U.S. large industrial customers saw 7.2 cents/kWh average in 2023.
18
EU industrial electricity prices H1 2023: €0.16/kWh average.
19
Germany's 2023 industrial price: €0.20/kWh.
20
UK industrial electricity 2023: £0.19/kWh average.
21
France industrial 2023: €0.12/kWh, lowest in EU majors.
22
Italy industrial price 2023: €0.21/kWh.
Interpretation
Industrial Prices Interpretation
The American industrialist, while grumbling over a national average creeping past eight cents, can at least glance across the Atlantic and whisper, "Well, at least we're not paying German prices," a small comfort in a world where cheap hydropower and expensive regulations paint a wildly varied domestic map of power costs.
05 · Category
Residential Prices30 stats
01
In 2023, the average U.S. residential electricity price reached 16.13 cents per kWh, a 6.3% increase from 2022 driven by higher natural gas costs.
02
Hawaii had the highest U.S. residential electricity price in 2023 at 42.34 cents per kWh, primarily due to reliance on imported oil.
03
U.S. residential electricity prices averaged 15.95 cents per kWh in Q4 2023, up 2.1% quarter-over-quarter amid winter demand.
04
In 2022, average U.S. residential price was 15.12 cents/kWh, with Northeast region at 21.83 cents/kWh.
05
California's 2023 average residential electricity price was 28.39 cents/kWh, the second highest in the U.S.
06
U.S. residential prices rose 7.5% year-over-year in December 2023 to 16.52 cents/kWh.
07
In 2021, average U.S. residential electricity price was 14.19 cents/kWh, lowest in South at 13.02 cents/kWh.
08
Texas residential prices averaged 14.56 cents/kWh in 2023, up 10.2% due to grid reliability issues.
09
U.S. average residential price forecast for 2024 is 16.8 cents/kWh, per EIA Short-Term Energy Outlook.
10
New England residential prices hit 26.75 cents/kWh in 2023, highest regional average.
11
Florida's 2023 residential electricity price averaged 14.18 cents/kWh, down 1.2% from 2022.
12
In 2023, U.S. residential customers paid $47.7 billion for electricity, average bill $1,440 annually.
13
Midwest U.S. residential prices averaged 14.92 cents/kWh in 2023, up 4.8% YoY.
14
During 2022 summer peak, U.S. residential prices peaked at 16.45 cents/kWh in August.
15
North Dakota had the lowest U.S. residential price in 2023 at 10.21 cents/kWh due to coal resources.
16
U.S. residential price inflation was 91% cumulative from 2020-2023 per BLS data.
17
In Q1 2024, average U.S. residential price was 16.68 cents/kWh, up 3.5% from Q1 2023.
18
Pacific region U.S. residential prices averaged 24.67 cents/kWh in 2023.
19
Average monthly residential bill in U.S. was $121in 2023, highest in Hawaii at $192.
20
U.S. residential prices increased 2.6% in 2023 after adjusting for weather.
21
West Virginia residential price 2023: 12.45 cents/kWh, benefiting from natural gas.
22
In Europe, Germany's 2023 household electricity price was €0.40/kWh, highest in EU.
23
UK average household electricity price in 2023 was £0.28/kWh post-energy crisis.
24
France 2023 residential price: €0.25/kWh, supported by nuclear power.
25
Italy's 2023 household electricity price averaged €0.36/kWh due to gas dependency.
26
EU average household electricity price in H1 2023 was €0.28/kWh, down from 2022 peak.
27
Sweden's low 2023 residential price of €0.14/kWh thanks to hydro power.
28
Denmark household price 2023: €0.32/kWh, high due to wind taxes.
29
Spain 2023 average residential electricity price: €0.22/kWh after subsidies.
30
Poland's 2023 household price rose to €0.24/kWh amid coal phase-out.
Interpretation
Residential Prices Interpretation
While U.S. electricity prices creep upward at a national average of 16 cents, the true story is one of stark regional disparity, where your comfort costs anywhere from a reasonable dime in coal-rich North Dakota to a punishing 42 cents in oil-dependent Hawaii, proving that in the modern grid, your address is your destiny.
06 · Category
Wholesale Prices22 stats
01
In PJM hub, 2023 average wholesale electricity price was $42/MWh.
02
ERCOT North 2023 average wholesale price: $38/MWh, volatile spikes.
03
CAISO NP15 2023 wholesale average: $65/MWh, renewables integration.
04
MISO Indiana Hub 2023: $35/MWh average wholesale electricity price.
05
NYISO Zone A 2023 average: $52/MWh.
06
SPP South Hub 2023 wholesale: $28/MWh.
07
ISONE 2023 average wholesale price: $48/MWh, winter peaks.
08
U.S. average wholesale day-ahead price 2023: $40.50/MWh across hubs.
09
ERCOT 2023 real-time wholesale peak hit $5,000/MWh in August heatwave.
10
PJM Western Hub Q4 2023: $45/MWh average.
11
NEPOOL Mass Hub 2023: $55/MWh.
12
MISO Illinois Hub 2023 wholesale average: $32/MWh.
13
2023 U.S. wholesale prices up 15% YoY due to gas prices.
14
CAISO 2023 off-peak wholesale: $25/MWh average.
15
EU EPEX Spot Germany 2023 average day-ahead: €80/MWh.
16
UK N2EX 2023 average wholesale: £75/MWh.
17
Nord Pool Finland 2023: €45/MWh average.
18
In 2023, U.S. wholesale prices averaged $29/MWh in 2022 rising to $41/MWh.
19
ISO-NE 2023 peak wholesale prices exceeded $1,000/MWh in January.
20
SPP North 2023 wholesale average: $26/MWh.
21
MISO Minnesota 2023: $30/MWh.
22
Global average wholesale electricity price 2023 estimated at $55/MWh by IEA.
Interpretation
Wholesale Prices Interpretation
While regional power markets offer a bewildering range of prices—from SPP's bargain-basement $28 to California's premium $65—the universal truth is that your wallet gets its own private heatwave when natural gas prices spike or the grid gets stressed.
Reference
Cite This Report
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APA
Priya Chandrasekaran. (2026, February 13). Electricity Prices Industry Statistics. Gitnux. https://gitnux.org/electricity-prices-industry-statistics
MLA
Priya Chandrasekaran. "Electricity Prices Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/electricity-prices-industry-statistics.
Chicago
Priya Chandrasekaran. 2026. "Electricity Prices Industry Statistics." Gitnux. https://gitnux.org/electricity-prices-industry-statistics.
Sources & references
15 datasets cited across this report