Maine commercial electricity rates

Analyst note

The Maine commercial price sat above the U.S. average in 10 of 10 years; the gap was +1.83 ¢ in 2015 and +5.47 ¢ in 2024. In the 2024 ranking Maine sits between New York (18.77 ¢) one place above and District of Columbia (17.07 ¢) one place below; the top of the list is 19.96 ¢ away and the bottom 11.03 ¢. Maine was 11th in 2015 with 12.47 ¢ and is 10th now; a rise in the table. Maine commercial prices rose in 7 of 9 years. The largest rise was +19.4% in 2022, and the largest fall -3.1% in 2016. The Maine price peaked at 18.22 ¢ in 2024 and bottomed at 12.08 ¢ in 2016; 2024 is the peak and +50.8% from the low. Compounded, that is +4.30% a year in Maine, +2.27 points against the U.S. Maine buys 0.28% of all U.S. commercial electricity with 0.57% of the accounts, so the average Maine account uses 0.50 times the national average.

A top-ten price: 18.22 ¢/kWh for Maine commercial accounts, rank 10 of 51, +42.9% against the U.S. Maine: +46.1% over nine years, or +4.3% a year, beating the national +19.8% by 26.3 points; 2022 was the biggest single move (+19.4%) and 2024 the high.

Last year's change in Maine was +1.9% and still rising. Against the residential price of 24.29 ¢ the gap is 6.07 ¢. Commercial sales are 36.3% of Maine electricity sold, and an average Maine account used 3,089 kWh a month, an implied bill near $563.

Counting revenue instead of kWh, Maine commercial accounts bring in 33.6% of Maine sector revenue on 36.3% of the kWh, a discount of 2.7 points that comes from the price level: 18.22 ¢ here against 24.29 ¢ for residential and 12.46 ¢ for industrial accounts. The average Maine commercial account uses 3,089 kWh a month, 49 of 51 among states on that measure; a residential account uses 0.18 times as much and an industrial account 32.54 times. Commercial accounts are 12.98% of the 855,558 accounts in Maine.