Connecticut residential electricity rates

Analyst note

The Connecticut residential price sat above the U.S. average in 10 of 10 years; the gap was +8.29 ¢ in 2015 and +12.27 ¢ in 2024. In the 2024 ranking Connecticut sits between Massachusetts (29.35 ¢) one place above and Rhode Island (28.65 ¢) one place below; the top of the list is 14.11 ¢ away and the bottom 17.24 ¢. Connecticut was 2nd in 2015 with 20.94 ¢ and is 4th now; a fall in the table. Connecticut residential prices rose in 6 of 9 years. The largest rise was +21.4% in 2023, and the largest fall -4.4% in 2016. The Connecticut price peaked at 29.88 ¢ in 2023 and bottomed at 20.01 ¢ in 2016; 2024 is 3.8% below the peak and +43.7% from the low. Compounded, that is +3.58% a year in Connecticut, +0.60 points against the U.S. Connecticut buys 0.87% of all U.S. residential electricity with 1.08% of the accounts, so the average Connecticut account uses 0.80 times the national average.

A top-ten price: 28.75 ¢/kWh for Connecticut residential accounts, rank 4 of 51, +74.5% against the U.S. Connecticut: +37.3% over nine years, or +3.6% a year, beating the national +30.3% by 7.0 points; 2023 was the biggest single move (+21.4%) and 2023 the high.

Last year's change in Connecticut was -3.8% and falling. Against the commercial price of 21.21 ¢ the gap is 7.54 ¢. Residential sales are 47.3% of Connecticut electricity sold, and an average Connecticut account used 695 kWh a month, an implied bill near $200.

Counting revenue instead of kWh, Connecticut residential accounts bring in 56.1% of Connecticut sector revenue on 47.7% of the kWh, a premium of 8.5 points that comes from the price level: 28.75 ¢ here against 21.21 ¢ for commercial and 17.12 ¢ for industrial accounts. The average Connecticut residential account uses 695 kWh a month, 35 of 51 among states on that measure; a commercial account uses 8.92 times as much and a industrial account 79.35 times. Residential accounts are 90.62% of the 1,713,428 accounts in Connecticut.