Indiana industrial electricity rates

Analyst note

The Indiana industrial price sat above the U.S. average in 9 of 10 years; the gap was -0.05 ¢ in 2015 and +0.02 ¢ in 2024. In the 2024 ranking Indiana sits between Michigan (8.26 ¢) one place above and Oregon (8.05 ¢) one place below; the top of the list is 25.98 ¢ away and the bottom 2.72 ¢. Indiana was 26th in 2015 with 6.86 ¢ and is 24th now; a rise in the table. Indiana industrial prices rose in 4 of 9 years. The largest rise was +17.1% in 2022, and the largest fall -5.2% in 2020. The Indiana price peaked at 8.65 ¢ in 2022 and bottomed at 6.86 ¢ in 2015; 2024 is 5.8% below the peak and +18.8% from the low. Compounded, that is +1.93% a year in Indiana, +0.11 points against the U.S. Indiana buys 4.11% of all U.S. industrial electricity with 1.73% of the accounts, so the average Indiana account uses 2.37 times the national average.

A middle price: 8.15 ¢/kWh for Indiana industrial accounts, rank 24 of 51, +0.2% against the U.S. Indiana: +18.8% over nine years, or +1.9% a year, matching the national +17.7% by 1.1 points; 2022 was the biggest single move (+17.1%) and 2022 the high.

Last year's change in Indiana was -1.1% and falling. Against the residential price of 14.77 ¢ the gap is 6.62 ¢. Industrial sales are 42.8% of Indiana electricity sold, and an average Indiana account used 183,033 kWh a month, an implied bill near $14,917.

Counting revenue instead of kWh, Indiana industrial accounts bring in 30.7% of Indiana sector revenue on 42.8% of the kWh, a discount of 12.2 points that comes from the price level: 8.15 ¢ here against 14.77 ¢ for residential and 12.44 ¢ for commercial accounts. The average Indiana industrial account uses 183,033 kWh a month, 18 of 51 among states on that measure; a residential account uses 0.00 times as much and a commercial account 0.03 times. Industrial accounts are 0.56% of the 3,450,419 accounts in Indiana.