California residential electricity rates

Analyst note

The California residential price sat above the U.S. average in 10 of 10 years; the gap was +4.34 ¢ in 2015 and +15.49 ¢ in 2024. In the 2024 ranking California sits between Hawaii (42.86 ¢) one place above and Massachusetts (29.35 ¢) one place below; the top of the list is 10.89 ¢ away and the bottom 20.46 ¢. California was 9th in 2015 with 16.99 ¢ and is 2nd now; a rise in the table. California residential prices rose in 9 of 9 years. The largest rise was +14.2% in 2023, and the largest fall +1.6% in 2019. The California price peaked at 31.97 ¢ in 2024 and bottomed at 16.99 ¢ in 2015; 2024 is the peak and +88.2% from the low. Compounded, that is +7.28% a year in California, +4.29 points against the U.S. California buys 5.79% of all U.S. residential electricity with 9.93% of the accounts, so the average California account uses 0.58 times the national average.

A top-ten price: 31.97 ¢/kWh for California residential accounts, rank 2 of 51, +94.0% against the U.S. California: +88.2% over nine years, or +7.3% a year, beating the national +30.3% by 57.9 points; 2023 was the biggest single move (+14.2%) and 2024 the high.

Last year's change in California was +8.3% and still rising. Against the commercial price of 25.54 ¢ the gap is 6.43 ¢. Residential sales are 34.9% of California electricity sold, and an average California account used 503 kWh a month, an implied bill near $161.

Counting revenue instead of kWh, California residential accounts bring in 41.4% of California sector revenue on 35.0% of the kWh, a premium of 6.3 points that comes from the price level: 31.97 ¢ here against 25.54 ¢ for commercial and 21.53 ¢ for industrial accounts. The average California residential account uses 503 kWh a month, 50 of 51 among states on that measure; a commercial account uses 10.73 times as much and a industrial account 49.83 times. Residential accounts are 88.08% of the 16,140,812 accounts in California.