Iowa industrial electricity rates

Analyst note

The Iowa industrial price sat above the U.S. average in 0 of 10 years; the gap was -1.01 ¢ in 2015 and -1.33 ¢ in 2024. In the 2024 ranking Iowa sits between Mississippi (6.81 ¢) one place above and Arkansas (6.61 ¢) one place below; the top of the list is 27.33 ¢ away and the bottom 1.37 ¢. Iowa was 44th in 2015 with 5.90 ¢ and is 43rd now; a rise in the table. Iowa industrial prices rose in 6 of 9 years. The largest rise was +6.5% in 2022, and the largest fall -2.6% in 2020. The Iowa price peaked at 7.06 ¢ in 2022 and bottomed at 5.90 ¢ in 2015; 2024 is 3.7% below the peak and +15.3% from the low. Compounded, that is +1.59% a year in Iowa, -0.23 points against the U.S. Iowa buys 2.67% of all U.S. industrial electricity with 0.85% of the accounts, so the average Iowa account uses 3.15 times the national average.

A bottom-ten price: 6.80 ¢/kWh for Iowa industrial accounts, rank 43 of 51, -16.4% against the U.S. Iowa: +15.3% over nine years, or +1.6% a year, matching the national +17.7% by 2.4 points; 2022 was the biggest single move (+6.5%) and 2022 the high.

Last year's change in Iowa was -1.6% and falling. Against the residential price of 13.40 ¢ the gap is 6.60 ¢. Industrial sales are 50.3% of Iowa electricity sold, and an average Iowa account used 243,102 kWh a month, an implied bill near $16,531.

Counting revenue instead of kWh, Iowa industrial accounts bring in 36.7% of Iowa sector revenue on 50.3% of the kWh, a discount of 13.7 points that comes from the price level: 6.80 ¢ here against 13.40 ¢ for residential and 10.22 ¢ for commercial accounts. The average Iowa industrial account uses 243,102 kWh a month, 13 of 51 among states on that measure; a residential account uses 0.00 times as much and a commercial account 0.02 times. Industrial accounts are 0.55% of the 1,710,011 accounts in Iowa.