Minnesota commercial electricity rates

Analyst note

The Minnesota commercial price sat above the U.S. average in 0 of 10 years; the gap was -1.20 ¢ in 2015 and -0.60 ¢ in 2024. In the 2024 ranking Minnesota sits between Delaware (12.20 ¢) one place above and Tennessee (12.05 ¢) one place below; the top of the list is 26.03 ¢ away and the bottom 4.96 ¢. Minnesota was 31st in 2015 with 9.44 ¢ and is 21st now; a rise in the table. Minnesota commercial prices rose in 6 of 9 years. The largest rise was +9.6% in 2022, and the largest fall -1.9% in 2024. The Minnesota price peaked at 12.39 ¢ in 2023 and bottomed at 9.44 ¢ in 2015; 2024 is 1.9% below the peak and +28.7% from the low. Compounded, that is +2.84% a year in Minnesota, +0.81 points against the U.S. Minnesota buys 1.55% of all U.S. commercial electricity with 1.58% of the accounts, so the average Minnesota account uses 0.98 times the national average.

Minnesota commercial customers paid 12.15 ¢ in 2024, which puts the state 21st of 51, a middle position, 0.60 ¢ under the U.S. Nine years moved the Minnesota commercial price +28.7% (+2.8% a year), ahead of the U.S. by 8.9 points. The sharpest year was 2022 at +9.6%; the peak came in 2023.

The latest Minnesota year moved -1.9%, so prices have cooled. The Minnesota residential price of 15.45 ¢ sits 3.30 ¢ above. A Minnesota commercial account uses 6,070 kWh a month; priced at 12.15 ¢ that is about $738, and the sector buys 34.8% of Minnesota's power.

Counting revenue instead of kWh, Minnesota commercial accounts bring in 34.3% of Minnesota sector revenue on 34.8% of the kWh, a discount of 0.6 points that comes from the price level: 12.15 ¢ here against 15.45 ¢ for residential and 9.15 ¢ for industrial accounts. The average Minnesota commercial account uses 6,070 kWh a month, 20 of 51 among states on that measure; a residential account uses 0.12 times as much and an industrial account 29.20 times. Commercial accounts are 10.64% of the 2,899,050 accounts in Minnesota.