Florida residential electricity rates

Analyst note

The Florida residential price sat above the U.S. average in 0 of 10 years; the gap was -1.07 ¢ in 2015 and -2.34 ¢ in 2024. In the 2024 ranking Florida sits between Kansas (14.15 ¢) one place above and North Carolina (14.13 ¢) one place below; the top of the list is 28.72 ¢ away and the bottom 2.63 ¢. Florida was 29th in 2015 with 11.58 ¢ and is 33rd now; a fall in the table. Florida residential prices rose in 5 of 9 years. The largest rise was +16.8% in 2022, and the largest fall -7.0% in 2024. The Florida price peaked at 15.21 ¢ in 2023 and bottomed at 10.98 ¢ in 2016; 2024 is 7.0% below the peak and +28.8% from the low. Compounded, that is +2.24% a year in Florida, -0.74 points against the U.S. Florida buys 9.33% of all U.S. residential electricity with 7.30% of the accounts, so the average Florida account uses 1.28 times the national average.

A middle price: 14.14 ¢/kWh for Florida residential accounts, rank 33 of 51, -14.2% against the U.S. Florida: +22.1% over nine years, or +2.2% a year, trailing the national +30.3% by 8.2 points; 2022 was the biggest single move (+16.8%) and 2023 the high.

Last year's change in Florida was -7.0% and falling. Against the commercial price of 10.99 ¢ the gap is 3.15 ¢. Residential sales are 54.2% of Florida electricity sold, and an average Florida account used 1,104 kWh a month, an implied bill near $156.

Counting revenue instead of kWh, Florida residential accounts bring in 61.2% of Florida sector revenue on 54.3% of the kWh, a premium of 7.0 points that comes from the price level: 14.14 ¢ here against 10.99 ¢ for commercial and 8.50 ¢ for industrial accounts. The average Florida residential account uses 1,104 kWh a month, 5 of 51 among states on that measure; a commercial account uses 5.72 times as much and a industrial account 49.51 times. Residential accounts are 88.66% of the 11,779,010 accounts in Florida.