California industrial electricity rates

Analyst note

The California industrial price sat above the U.S. average in 10 of 10 years; the gap was +5.26 ¢ in 2015 and +13.40 ¢ in 2024. In the 2024 ranking California sits between Hawaii (34.13 ¢) one place above and Rhode Island (19.70 ¢) one place below; the top of the list is 12.60 ¢ away and the bottom 16.10 ¢. California was 7th in 2015 with 12.17 ¢ and is 2nd now; a rise in the table. California industrial prices rose in 8 of 9 years. The largest rise was +15.5% in 2024, and the largest fall -2.1% in 2016. The California price peaked at 21.53 ¢ in 2024 and bottomed at 11.92 ¢ in 2016; 2024 is the peak and +80.6% from the low. Compounded, that is +6.54% a year in California, +4.72 points against the U.S. California buys 4.26% of all U.S. industrial electricity with 13.11% of the accounts, so the average California account uses 0.32 times the national average.

A top-ten price: 21.53 ¢/kWh for California industrial accounts, rank 2 of 51, +164.8% against the U.S. California: +76.9% over nine years, or +6.5% a year, beating the national +17.7% by 59.3 points; 2024 was the biggest single move (+15.5%) and 2024 the high.

Last year's change in California was +15.5% and still rising. Against the residential price of 31.97 ¢ the gap is 10.44 ¢. Industrial sales are 17.9% of California electricity sold, and an average California account used 25,073 kWh a month, an implied bill near $5,398.

Counting revenue instead of kWh, California industrial accounts bring in 14.3% of California sector revenue on 18.0% of the kWh, a discount of 3.7 points that comes from the price level: 21.53 ¢ here against 31.97 ¢ for residential and 25.54 ¢ for commercial accounts. The average California industrial account uses 25,073 kWh a month, 50 of 51 among states on that measure; a residential account uses 0.02 times as much and a commercial account 0.22 times. Industrial accounts are 0.91% of the 16,140,812 accounts in California.