U.S. Electricity Price Trends
According to the U.S. Energy Information Administration Form EIA-861 annual data, the U.S. residential electricity price moved from approximately 12.55¢/kWh in 2016 to roughly 16.48¢/kWh in 2024, a 31.3% nominal shift over the period. The residential, commercial, and industrial averages below draw from the EIA Form 861 Annual Electric Power Industry Report. 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.