State electricity profile · 2024
Minnesota Electricity
Homes in Minnesota pay 15.45¢/kWh for residential electricity, 6.3% below the US average. Further down: commercial and industrial rates and the generation mix, all EIA-sourced.
- 15.45¢/kWh
- Residential rate
- -6.3%
- vs US average
- 32%
- Renewable
- 2.6M
- Customers
Verify with EIA → · Methodology
The verdict · 2024
Minnesota's residential electricity runs 15.45¢/kWh - 6.3% below the 16.48¢/kWh national average, cheaper than 37% of states, with 32% of its power from renewables.
Rate is the EIA state average across all 2.6M residential customers, a benchmark for comparing states, not the rate on any single bill. Source: EIA Form-861.
What Minnesota's Electricity Data Tells Us
Minnesota's residential rate stands at 15.45¢/kWh for 2024, across a base of 2.6M metered households, running 6.3% behind the national residential average of 16.48¢/kWh. On the commercial side, the rate is 12.15¢/kWh; industrial rates come in at 9.15¢/kWh, reflecting the cost differentials that come from voltage level, load factor, and contract length across EIA Form-861 survey respondents. The residential sector sold 22.1M MWh across the year, translating to roughly $3.4B in revenue for utilities, a useful yardstick for sizing local demand against the grid mix that serves it.
The single largest fuel source in Minnesota is natural gas, responsible for 27.3% of what's generated in-state, and wind isn't far behind at 25.4%, while nuclear adds another 20.4%. Minnesota's renewable share, spanning solar, wind, hydro, geothermal, and biomass, sits at 32.0% of total output, a figure that matters because each renewable megawatt-hour displaces fuel costs that otherwise flow through to retail bills. A portfolio this clean typically carries lower marginal generation costs once capacity is built, though transmission upgrades can offset part of the saving.
Looking back across EIA records, residential prices in Minnesota moved from 12.67¢/kWh in 2016 to 15.45¢/kWh in 2024, a 21.9% shift over that window. Alabama, West Virginia, Illinois price out at a comparable level, a handy peer set for cross-checking. For anyone negotiating a supplier contract, weighing an energy-efficiency upgrade, or modeling a household budget, the combination of current rate, multi-year trend, and generation mix offers a sturdier footing than any single data point on its own.
-6.3%
vs the US residential average
37%
of states have higher residential rates
32%
renewable share, above the US mix
2.6M
residential customers served
How Minnesota compares
Cents per kWh, EIA Form 861. Pick a benchmark above to compare Minnesota against the US average or a peer state.
Residential Price History
| Year | Price | Change |
|---|---|---|
| 2024 | 15.45¢/kWh | +4.9% |
| 2023 | 14.73¢/kWh | +3.4% |
| 2022 | 14.25¢/kWh | +5.6% |
| 2021 | 13.50¢/kWh | +2.5% |
| 2020 | 13.17¢/kWh | +1.0% |
| 2019 | 13.04¢/kWh | -0.8% |
| 2018 | 13.14¢/kWh | +0.8% |
| 2017 | 13.04¢/kWh | +2.9% |
| 2016 | 12.67¢/kWh | - |
Energy Generation Mix
How Minnesota generates its electricity. Renewable sources account for 32.0% of generation.
- Natural Gas27.3%
- Windrenewable25.4%
- Nuclear20.4%
- Coal19.7%
- Solarrenewable4.6%
- Hydrorenewable1.5%
- Other0.5%
- Biomassrenewable0.5%
Market Overview
Residential Revenue
$3.4B
Commercial Revenue
$2.7B
Residential Sales
22.1M MWh
Residential Customers
2.6M
Frequently Asked Questions
How much does electricity cost in Minnesota? ▼
How much of Minnesota's electricity is renewable? ▼
Are electricity prices going up in Minnesota? ▼
What are commercial and industrial electricity rates in Minnesota? ▼
What is the cheapest energy source in Minnesota? ▼
Where does RateWatt's Minnesota electricity data come from? ▼
States with Similar Electricity Prices
Using Minnesota's numbers
This is the state average, use it as a benchmark, not a quote for your address.
- Minnesota sits 6.3% below the national average, see exactly where it lands among all 50 states. See the rankings
- Check the multi-year trend before you judge the rate, a low price rising fast can cost more over a decade than a steady one. Minnesota price trend
- Compare Minnesota side by side with the US average and peer states using the tool above, then estimate your own bill from your monthly kWh. Cost calculator
Figures are EIA state averages by sector. Your actual rate depends on your utility, plan, and usage, see our disclaimer.
Energy Guides
Understanding Electricity Rates
What ¢/kWh means and how your bill is calculated
Why Prices Vary by State
Generation mix, regulation, and geography
US Energy Sources Explained
How each fuel source powers the grid
Renewable vs Fossil Fuel Costs
LCOE comparison and the cost crossover
Cheapest States for Electricity
Which states pay the least and why
Primary source data for Minnesota
Every figure on this page traces to these official federal datasets.
- 📊 EIA State Energy Profile, Minnesota State energy database
- ⚡ EIA Electric Power Monthly Generation and price statistics
- 🌿 EPA eGRID Power-grid emissions database
- ☀️ NREL solar resource maps Solar potential by location
- 💨 NREL wind resource maps Wind potential by location
- ⚛️ NRC reactor data Nuclear operating status
- ⚡ FERC market data Transmission and market prices
- 🏛️ NARUC commissions State public utility commissions
- 📖 EIA energy mapping system Interactive federal energy map
Related
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the U.S. Energy Information Administration (EIA). Consult a qualified professional before making decisions based on this data.
Every figure on RateWatt is rendered directly from official U.S. Energy Information Administration (EIA) data, no number is typed in by an editor. State prices and generation mix are pulled directly from the EIA's published tables for this state. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of 2026-05-15.