Average Electricity Prices Drop Over Past 12 Months

Average Electricity Prices Drop Over Past 12 Months

A report from the Edison Electric Institute (EEI) shows that in the past year the average cost nationwide for 1,000 kWh of electricity dropped by more than one dollar, with the typical electricity bill now averaging $86.74 versus $88.12 a year ago.

Electricity rates continue to be lowest in the northwest and highest in Hawaii, New York and New England. Internationally, rates are lowest in South Africa and Canada, and highest in Bermuda and Barbados. These are among the findings in the comprehensive, semi-annual Typical Bills and Average Rates report, which presents the delivered price of electricity in the U.S., as well as in some international markets.

“The report is used as a benchmark in contract negotiations, state restructuring and local economic development initiatives,” said Kenneth Linder, EEI group director, energy delivery. The report shows the average rates for 1996, 1997 and 1998. Company-specific information includes data on average retail rates for general service, with or without water heating and all electric service. The report was introduced 20 years ago as a service to EEI members. It is now available to all organizations and businesses with an interest in the energy industry. n

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