Hawaii industrial electricity rates

Analyst note

The Hawaii industrial price sat above the U.S. average in 10 of 10 years; the gap was +16.15 ¢ in 2015 and +26.00 ¢ in 2024. In the 2024 ranking Hawaii sits between California (21.53 ¢) one place below; the top of the list is 0.00 ¢ away and the bottom 28.70 ¢. Hawaii was 1st in 2015 with 23.06 ¢ and is 1st now; no move in the table. Hawaii industrial prices rose in 4 of 9 years. The largest rise was +35.4% in 2022, and the largest fall -10.3% in 2016. The Hawaii price peaked at 36.71 ¢ in 2022 and bottomed at 20.69 ¢ in 2016; 2024 is 7.0% below the peak and +65.0% from the low. Compounded, that is +4.45% a year in Hawaii, +2.63 points against the U.S. Hawaii buys 0.34% of all U.S. industrial electricity with 0.07% of the accounts, so the average Hawaii account uses 4.56 times the national average.

A top-ten price: 34.13 ¢/kWh for Hawaii industrial accounts, rank 1 of 51, +319.8% against the U.S. Hawaii: +48.0% over nine years, or +4.5% a year, beating the national +17.7% by 30.3 points; 2022 was the biggest single move (+35.4%) and 2022 the high.

Last year's change in Hawaii was -3.3% and falling. Against the residential price of 42.86 ¢ the gap is 8.73 ¢. Industrial sales are 38.8% of Hawaii electricity sold, and an average Hawaii account used 352,251 kWh a month, an implied bill near $120,223.

Counting revenue instead of kWh, Hawaii industrial accounts bring in 34.8% of Hawaii sector revenue on 38.8% of the kWh, a discount of 3.9 points that comes from the price level: 34.13 ¢ here against 42.86 ¢ for residential and 38.18 ¢ for commercial accounts. The average Hawaii industrial account uses 352,251 kWh a month, 9 of 51 among states on that measure; a residential account uses 0.00 times as much and a commercial account 0.01 times. Industrial accounts are 0.16% of the 506,988 accounts in Hawaii.