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RSS feed source: US Energy Information Administration

In-brief analysis

September 11, 2024

The change in average residential electricity prices across the United States has generally mirrored the rate of inflation over the past decade, increasing by less than 1% in inflation-adjusted terms between 2013 and 2023. Without adjusting for inflation, the average retail price of electricity for the residential sector increased from a little more than 12 cents per kilowatthour (kWh) in 2013 to 16 cents per kWh in 2023.

Most states regulate residential electricity markets through public utilities commissions. Some states have deregulated electricity markets that allow customers to choose among competitive suppliers to provide their electricity. Even in states with deregulated markets, charges to cover distribution and transmission costs (which make up nearly 40% of electric bills, on average) are recovered through rate regulation.

Utility rate making is a complex process

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