In 2023, the retail price of electricity for residential customers in the United States averaged 15.98 U.S. cents per kilowatt-hour. Households are charged more than the commercial and industrial sectors, because of the higher distribution costs. Since 2020, electricity customers have seen electricity prices increase in the U.S. and peak in 2023.
The U.S. electricity market
The U.S. electricity market is led by several types of electricity providers, such as cooperatives, municipal systems, and shareholder-owned electric utilities. In 2022, cooperatives were the most common type of ownership in the U.S., with more than 600 providers. That year, the U.S. electric utility industry revenue amounted to 488 billion U.S. dollars.
Electricity prices around the world
Electricity prices vary widely from country to country, depending on energy sources used, as well as government and industry subsidies and regulations. In 2023, Ireland and the United Kingdom had some of the highest household electricity prices worldwide. Meanwhile, U.S. households paid some of the lowest prices. However, leading oil and gas-producing regions such as the Middle East registered the cheapest rates overall.
Average retail prices of electricity in the United States from 1998 to 2023, by sector
(in U.S. cents per kilowatt-hour)
* Prices are not adjusted for inflation.
** Figures until 2002 exclude public street and highway lighting, interdepartmental sales, and other sales to public authorities.
*** Includes public railroads and railway systems only.
****Figures until 2002 exclude agriculture and irrigation.
This statistic was compiled using different releases of the publication.
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EIA. (March 22, 2024). Average retail prices of electricity in the United States from 1998 to 2023, by sector (in U.S. cents per kilowatt-hour) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/200197/average-retail-price-of-electricity-in-the-us-by-sector-since-1998/
EIA. "Average retail prices of electricity in the United States from 1998 to 2023, by sector (in U.S. cents per kilowatt-hour)." Chart. March 22, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/200197/average-retail-price-of-electricity-in-the-us-by-sector-since-1998/
EIA. (2024). Average retail prices of electricity in the United States from 1998 to 2023, by sector (in U.S. cents per kilowatt-hour). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/200197/average-retail-price-of-electricity-in-the-us-by-sector-since-1998/
EIA. "Average Retail Prices of Electricity in The United States from 1998 to 2023, by Sector (in U.S. Cents per Kilowatt-hour)." Statista, Statista Inc., 22 Mar 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/200197/average-retail-price-of-electricity-in-the-us-by-sector-since-1998/
EIA, Average retail prices of electricity in the United States from 1998 to 2023, by sector (in U.S. cents per kilowatt-hour) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/200197/average-retail-price-of-electricity-in-the-us-by-sector-since-1998/ (last visited November 10, 2024)
Average retail prices of electricity in the United States from 1998 to 2023, by sector (in U.S. cents per kilowatt-hour) [Graph], EIA, March 22, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/200197/average-retail-price-of-electricity-in-the-us-by-sector-since-1998/
