Indiana commercial electricity rates

Analyst note

The Indiana commercial price sat above the U.S. average in 4 of 10 years; the gap was -0.86 ¢ in 2015 and -0.31 ¢ in 2024. In the 2024 ranking Indiana sits between Wisconsin (12.63 ¢) one place above and Mississippi (12.32 ¢) one place below; the top of the list is 25.74 ¢ away and the bottom 5.25 ¢. Indiana was 28th in 2015 with 9.78 ¢ and is 17th now; a rise in the table. Indiana commercial prices rose in 7 of 9 years. The largest rise was +11.1% in 2022, and the largest fall -2.4% in 2023. The Indiana price peaked at 12.86 ¢ in 2022 and bottomed at 9.78 ¢ in 2015; 2024 is 3.3% below the peak and +27.2% from the low. Compounded, that is +2.71% a year in Indiana, +0.68 points against the U.S. Indiana buys 1.63% of all U.S. commercial electricity with 1.92% of the accounts, so the average Indiana account uses 0.85 times the national average.

A middle price: 12.44 ¢/kWh for Indiana commercial accounts, rank 17 of 51, -2.4% against the U.S. Indiana: +27.2% over nine years, or +2.7% a year, beating the national +19.8% by 7.4 points; 2022 was the biggest single move (+11.1%) and 2022 the high.

Last year's change in Indiana was -0.9% and flat. Against the residential price of 14.77 ¢ the gap is 2.33 ¢. Commercial sales are 23.9% of Indiana electricity sold, and an average Indiana account used 5,261 kWh a month, an implied bill near $654.

Counting revenue instead of kWh, Indiana commercial accounts bring in 26.1% of Indiana sector revenue on 23.9% of the kWh, a premium of 2.2 points that comes from the price level: 12.44 ¢ here against 14.77 ¢ for residential and 8.15 ¢ for industrial accounts. The average Indiana commercial account uses 5,261 kWh a month, 32 of 51 among states on that measure; a residential account uses 0.17 times as much and an industrial account 34.79 times. Commercial accounts are 10.86% of the 3,450,419 accounts in Indiana.