Maryland industrial electricity rates

Analyst note

The Maryland industrial price sat above the U.S. average in 10 of 10 years; the gap was +1.62 ¢ in 2015 and +1.88 ¢ in 2024. In the 2024 ranking Maryland sits between District of Columbia (10.80 ¢) one place above and New York (9.17 ¢) one place below; the top of the list is 24.12 ¢ away and the bottom 4.58 ¢. Maryland was 12th in 2015 with 8.53 ¢ and is 12th now; no move in the table. Maryland industrial prices rose in 5 of 9 years. The largest rise was +18.3% in 2022, and the largest fall -7.5% in 2016. The Maryland price peaked at 10.01 ¢ in 2022 and bottomed at 7.80 ¢ in 2019; 2024 is the peak and +28.3% from the low. Compounded, that is +1.79% a year in Maryland, -0.03 points against the U.S. Maryland buys 0.34% of all U.S. industrial electricity with 0.83% of the accounts, so the average Maryland account uses 0.41 times the national average.

A middle price: 10.01 ¢/kWh for Maryland industrial accounts, rank 12 of 51, +23.1% against the U.S. Maryland: +17.4% over nine years, or +1.8% a year, matching the national +17.7% by 0.3 points; 2022 was the biggest single move (+18.3%) and 2024 the high.

Last year's change in Maryland was +0.7% and flat. Against the residential price of 17.86 ¢ the gap is 7.85 ¢. Industrial sales are 5.9% of Maryland electricity sold, and an average Maryland account used 31,427 kWh a month, an implied bill near $3,146.

Counting revenue instead of kWh, Maryland industrial accounts bring in 4.0% of Maryland sector revenue on 6.0% of the kWh, a discount of 2.0 points that comes from the price level: 10.01 ¢ here against 17.86 ¢ for residential and 12.96 ¢ for commercial accounts. The average Maryland industrial account uses 31,427 kWh a month, 47 of 51 among states on that measure; a residential account uses 0.03 times as much and a commercial account 0.28 times. Industrial accounts are 0.34% of the 2,722,508 accounts in Maryland.