U.S. Electricity Price Trends
According to the U.S. Energy Information Administration Electric Power Monthly (April 2026 release), the U.S. residential electricity price has moved from approximately 12.5 ¢/kWh in 2016 to roughly 17,500 hundredths-of-a-cent (about 16.48¢/kWh) in 2024, a 31.3% nominal shift over the period. The residential, commercial, and industrial averages below all draw from EIA Electric Power Monthly, the federal source of record. See our methodology page for refresh cadence and full source attribution.
Current Residential Avg
16.48¢/kWh
+31.3% since 2016
Current Rate
16.48¢/kWh
2024 residential
2016–2024 Change
+31.3%
residential
Cheapest Year
2016
12.55¢/kWh
Most Expensive
2024
16.48¢/kWh
Price Trends by Sector
Annual Average Prices
| Year | Residential | Commercial | Industrial |
|---|---|---|---|
| 2024 | 16.48¢/kWh +3.0% | 12.75¢/kWh | 8.13¢/kWh |
| 2023 | 16.00¢/kWh +6.4% | 12.59¢/kWh | 8.04¢/kWh |
| 2022 | 15.04¢/kWh +10.1% | 12.41¢/kWh | 8.32¢/kWh |
| 2021 | 13.66¢/kWh +3.9% | 11.22¢/kWh | 7.18¢/kWh |
| 2020 | 13.15¢/kWh +1.1% | 10.59¢/kWh | 6.67¢/kWh |
| 2019 | 13.01¢/kWh +1.1% | 10.68¢/kWh | 6.81¢/kWh |
| 2018 | 12.87¢/kWh -0.2% | 10.67¢/kWh | 6.92¢/kWh |
| 2017 | 12.89¢/kWh +2.7% | 10.66¢/kWh | 6.88¢/kWh |
| 2016 | 12.55¢/kWh | 10.43¢/kWh | 6.76¢/kWh |
Trends by State
Data from the U.S. Energy Information Administration. Prices in cents per kilowatt-hour (kWh). Annual averages, 2016–2024.