The average retail price of electricity for households has risen steadily in the United States, reaching a peak of around 15.98 cents per kilowatt-hour in 2023. In the U.S., electricity prices tend to reflect base overnight costs for power plants, their maintenance, fuel costs, and the operation of power grids.
How electricity rates differ across states in the U.S.
The price of electricity varies widely across states. Hawaii has continuously had one of the highest rates and Washington one of the lowest. In Hawaii, the power sector is largely reliant on petroleum and diesel generators. Crude oil is a comparatively expensive fuel and prices tend to be volatile, driving up overall electricity prices. Meanwhile, electricity prices are low in states which use hydropower as the main source of electricity, as Washington. In the U.S., costs of electricity are greatly shaped by the primary power source used per state.
Maintaining the power grid
In addition to primary fuel purchases, the costs required to operate and maintain transmission and distribution systems also impact the prices that a household pays. In 2022, power utilities reported a peak in grid operating expenses, with transmission-related costs reaching 15.9 billion U.S. dollars and almost six billion U.S. dollars invested in distribution networks.
Average retail price of electricity to the residential sector in the United States in selected years from 1975 to 2023
(in U.S. dollar cents per kilowatt-hour)
Characteristic
Average price in U.S. cents per kilowatt-hour*
2023
15.98
2022
15.04
2021
13.66
2020
13.15
2019
13.01
2018
12.87
2017
12.89
2016
12.55
2015
12.65
2014
12.52
2013
12.13
2012
11.88
2011
11.72
Created with Highcharts 7.2.2Average price in U.S. cents per kilowatt-hour*197519801985199019952000200520102011201220132014201520162017201820192020202120222023
02.557.51012.51517.520
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EIA. (March 18, 2024). Average retail price of electricity to the residential sector in the United States in selected years from 1975 to 2023 (in U.S. dollar cents per kilowatt-hour) [Graph]. In Statista. Retrieved February 24, 2025, from https://www.statista.com/statistics/200199/residential-sector-electricity-prices-in-the-us-since-1975/
EIA. "Average retail price of electricity to the residential sector in the United States in selected years from 1975 to 2023 (in U.S. dollar cents per kilowatt-hour)." Chart. March 18, 2024. Statista. Accessed February 24, 2025. https://www.statista.com/statistics/200199/residential-sector-electricity-prices-in-the-us-since-1975/
EIA. (2024). Average retail price of electricity to the residential sector in the United States in selected years from 1975 to 2023 (in U.S. dollar cents per kilowatt-hour). Statista. Statista Inc.. Accessed: February 24, 2025. https://www.statista.com/statistics/200199/residential-sector-electricity-prices-in-the-us-since-1975/
EIA. "Average Retail Price of Electricity to The Residential Sector in The United States in Selected Years from 1975 to 2023 (in U.S. Dollar Cents per Kilowatt-hour)." Statista, Statista Inc., 18 Mar 2024, https://www.statista.com/statistics/200199/residential-sector-electricity-prices-in-the-us-since-1975/
EIA, Average retail price of electricity to the residential sector in the United States in selected years from 1975 to 2023 (in U.S. dollar cents per kilowatt-hour) Statista, https://www.statista.com/statistics/200199/residential-sector-electricity-prices-in-the-us-since-1975/ (last visited February 24, 2025)
Average retail price of electricity to the residential sector in the United States in selected years from 1975 to 2023 (in U.S. dollar cents per kilowatt-hour) [Graph], EIA, March 18, 2024. [Online]. Available: https://www.statista.com/statistics/200199/residential-sector-electricity-prices-in-the-us-since-1975/
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