Minnesota industrial electricity rates
For 9,410 Minnesota industrial accounts the 2024 average price was 9.15 cents per kWh on 20.0 TWh of sales.
In 2024 Minnesota industrial accounts paid 9.15 ¢/kWh, rank 14 of 51 and 12.5% above the U.S. industrial price (8.13 ¢). A Minnesota account using 177,255 kWh a month pays about $16,219. Since 2015 the Minnesota price moved +30.3%.
Minnesota sits 0.02 ¢ under New York, the state above, and 0.16 ¢ over Virginia, the state below. At 177,255 kWh a month, energy in Minnesota costs 6,594 dollars more than in New Mexico, the cheapest industrial state.
How it compares
| Industrial price | 2024 | 2015 | Change | Bill |
|---|---|---|---|---|
| Minnesota | 9.15 ¢/kWhthis state | 7.02 ¢/kWh | +30.3% | $16,219at 177,255 kWh |
| New York (next above) | 9.17 ¢/kWh+0.02 ¢ against Minnesota | 6.31 ¢/kWh | +45.3% | $16,254at 177,255 kWh |
| Virginia (next below)Lowest in this table | 8.99 ¢/kWh-0.16 ¢ against Minnesota | 6.95 ¢/kWh | +29.4% | $15,935at 177,255 kWh |
Compare 44 Minnesota companies
Minnesota industrial: 2025 and 2026
Minnesota industrial, data to July 2026.
- Minnesota 2025 average price
- 9.32 ¢/kWh+1.9% against 2024, U.S. +6.0%
- Minnesota 2025 rank
- 18 of 51-4 places against 2024
- Minnesota January to Jul 2026
- 9.75 ¢/kWh+5.4% on Jan-Jul 2025
- Minnesota Last 12 months
- 9.61 ¢/kWhto July 2026
- Minnesota July 2026
- 10.34 ¢/kWh+5.8% against July 2025
- Minnesota 2025 costliest month
- Jun 9.80 ¢cheapest Apr 8.34 ¢, a 18% spread
- Minnesota Typical 2025 bill
- $15,926 a monthtop Jul $17,441, low Apr $13,555
The Minnesota industrial price averaged 9.32 ¢/kWh in 2025, +1.9% on 2024: Minnesota ran 4.2 points slower than the nation. From January to July 2026 the Minnesota average is 9.75 ¢, +5.4% on 2025, close to the U.S. change. Seasonality in Minnesota: 2025 peaked in June at 9.80 ¢ and bottomed in April at 8.34 ¢. A typical industrial account in Minnesota paid about $191,109 for energy over 2025, from $13,555 in April to $17,441 in July; use per account ran 162,535 to 178,518 kWh a month.
Minnesota industrial price by month, 2024 to Jul 2026
Price by month, Minnesota industrial: 12 rows
| Month | 2024 | 2025 | 2026 to Jul |
|---|---|---|---|
| Jan | 9.16 | 9.08 | 9.30 |
| Feb | 8.94 | 9.22 | 9.33 |
| Mar | 9.01 | 9.03 | 9.29 |
| Apr | 8.97 | 8.34 | 9.86 |
| May | 9.29 | 9.44 | 9.80 |
| Jun | 9.53 | 9.80 | 10.23 |
| Jul | 9.81 | 9.77 | 10.34 |
| Aug | 9.48 | 9.40 | No data |
| Sep | 9.38 | 9.79 | No data |
| Oct | 9.07 | 9.40 | No data |
| Nov | 8.50 | 9.30 | No data |
| Dec | 8.56 | 9.17 | No data |
12 rows from EIA retail sales.
CSVWhat a typical Minnesota industrial account paid each month
Minnesota industrial: use per account times price, energy only.
Typical bill by month, Minnesota industrial: 12 rows
| Month | 2025 | 2026 to Jul |
|---|---|---|
| Jan | 15970 | 16338 |
| Feb | 14494 | 15653 |
| Mar | 15907 | 16339 |
| Apr | 13555 | 15735 |
| May | 15604 | 17441 |
| Jun | 16396 | 17471 |
| Jul | 17441 | 19507 |
| Aug | 17253 | No data |
| Sep | 16075 | No data |
| Oct | 16807 | No data |
| Nov | 15902 | No data |
| Dec | 15703 | No data |
12 rows from EIA retail sales.
CSVMinnesota industrial charts
Industrial price, Minnesota and U.S.
Minnesota 7.02 ¢ in 2015 and 9.15 ¢ in 2024, 1.02 ¢ over the national figure.
Minnesota industrial price against the national average, 2015 to 2024: 10 rows
| Year | Minnesota industrial | Gap to U.S. industrial | Minnesota residential |
|---|---|---|---|
| 2015 | 7.02 | +0.11 | 12.12 |
| 2016 | 7.37 | +0.61 | 12.67 |
| 2017 | 7.37 | +0.49 | 13.04 |
| 2018 | 7.52 | +0.60 | 13.14 |
| 2019 | 7.53 | +0.72 | 13.04 |
| 2020 | 7.67 | +1.00 | 13.17 |
| 2021 | 8.29 | +1.11 | 13.50 |
| 2022 | 9.25 | +0.93 | 14.25 |
| 2023 | 9.20 | +1.16 | 14.73 |
| 2024 | 9.15 | +1.02 | 15.45 |
10 rows from EIA retail sales.
CSVAnnual change
Biggest move +11.6% in 2022; latest -0.5%.
% vs prior year
- +5.02016
- +0.02017
- +2.02018
- +0.12019
- +1.92020
- +8.12021
- +11.62022
- -0.52023
- -0.52024
Year-over-year change, Minnesota industrial price: EIA retail sales.
CSVAnalyst note
The Minnesota industrial price sat above the U.S. average in 10 of 10 years; the gap was +0.11 ¢ in 2015 and +1.02 ¢ in 2024. In the 2024 ranking Minnesota sits between New York (9.17 ¢) one place above and Virginia (8.99 ¢) one place below; the top of the list is 24.98 ¢ away and the bottom 3.72 ¢. Minnesota was 23rd in 2015 with 7.02 ¢ and is 14th now; a rise in the table. Minnesota industrial prices rose in 6 of 9 years. The largest rise was +11.6% in 2022, and the largest fall -0.5% in 2024. The Minnesota price peaked at 9.25 ¢ in 2022 and bottomed at 7.02 ¢ in 2015; 2024 is 1.1% below the peak and +30.3% from the low. Compounded, that is +2.99% a year in Minnesota, +1.17 points against the U.S. Minnesota buys 1.93% of all U.S. industrial electricity with 0.84% of the accounts, so the average Minnesota account uses 2.29 times the national average.
Minnesota industrial customers paid 9.15 ¢ in 2024, which puts the state 14th of 51, a middle position, 1.02 ¢ over the U.S. Nine years moved the Minnesota industrial price +30.3% (+3.0% a year), ahead of the U.S. by 12.7 points. The sharpest year was 2022 at +11.6%; the peak came in 2022.
The latest Minnesota year moved -0.5%, so the price is flat. The Minnesota residential price of 15.45 ¢ sits 6.30 ¢ above. A Minnesota industrial account uses 177,255 kWh a month; priced at 9.15 ¢ that is about $16,219, and the sector buys 31.0% of Minnesota's power.
Counting revenue instead of kWh, Minnesota industrial accounts bring in 23.0% of Minnesota sector revenue on 31.0% of the kWh, a discount of 8.0 points that comes from the price level: 9.15 ¢ here against 15.45 ¢ for residential and 12.15 ¢ for commercial accounts. The average Minnesota industrial account uses 177,255 kWh a month, 19 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 0.32% of the 2,899,050 accounts in Minnesota.
Facts
- Industrial price 2024
- 9.15 ¢/kWh+12.5% against U.S.
- Price in 2015
- 7.02 ¢/kWh+30.3% to 2024
- Annual change
- +3.0%+1.2 points vs U.S.
- Rank
- 14 of 5137 states cost less
- Gap to U.S.
- +1.02 ¢$1,808.00 a month
- Peak year
- 20229.25 ¢; 2015 low 7.02 ¢
- Sales
- 20.0 TWh31.0% of state sales
- Industrial accounts
- 9,4101.65 per 1,000 residents
- Use per account
- 177,255 kWh/mo2,127,054 a year
- Implied monthly bill
- $16,219+$1,808 against U.S. rate
Data tables
Minnesota, industrial: price by year
| Year | Minnesota | U.S. | Change | Gap | Ratio |
|---|---|---|---|---|---|
| 2015 | 7.02 | 6.91 | No data | +0.11 | 1.016 |
| 2016 | 7.37 | 6.76 | +5.0% | +0.61 | 1.090 |
| 2017 | 7.37 | 6.88 | +0.0% | +0.49 | 1.071 |
| 2018 | 7.52 | 6.92 | +2.0% | +0.60 | 1.087 |
| 2019 | 7.53 | 6.81 | +0.1% | +0.72 | 1.106 |
| 2020 | 7.67 | 6.67 | +1.9% | +1.00 | 1.150 |
| 2021 | 8.29 | 7.18 | +8.1% | +1.11 | 1.155 |
| 2022 | 9.25 | 8.32 | +11.6% | +0.93 | 1.112 |
| 2023 | 9.20 | 8.04 | -0.5% | +1.16 | 1.144 |
| 2024 | 9.15 | 8.13 | -0.5% | +1.02 | 1.125 |
Minnesota industrial: cost by use
| Monthly kWh | Minnesota cost a month | Gap to U.S. rate in Minnesota |
|---|---|---|
| 44,310 (0.25x the Minnesota account) | $4,054.36 | +$451.96 |
| 88,630 (0.5x the Minnesota account) | $8,109.65 | +$904.03 |
| 177,250 (1x the Minnesota account) | $16,218.38 | +$1,807.95 |
| 265,880 (1.5x the Minnesota account) | $24,328.02 | +$2,711.98 |
| 354,510 (2x the Minnesota account) | $32,437.67 | +$3,616.00 |
| 709,020 (4x the Minnesota account) | $64,875.33 | +$7,232.00 |
Minnesota: the three sectors measured against industrial
| Sector | Minnesota price ¢/kWh | Price vs industrial | Minnesota kWh per account a month | Use vs industrial | Minnesota revenue share | Minnesota kWh share |
|---|---|---|---|---|---|---|
| Residential | 15.45 | 1.69x | 712 | 0.00x | 42.8% | 34.2% |
| Commercial | 12.15 | 1.33x | 6,070 | 0.03x | 34.3% | 34.8% |
| Industrial (this page) | 9.15 | 1.00x | 177,255 | 1.00x | 23.0% | 31.0% |
Questions on Minnesota industrial
How much per kWh do Minnesota industrial customers pay: 9.15 cents on average?
9.15 cents in 2024, +12.5% against the U.S. rate.
Is Minnesota cheap or costly for industrial power?
14th of 51, with 37 places charging less.
What is the nine-year price trend for Minnesota industrial power?
7.02 to 9.15 cents: +30.3% in total, +3.0% a year.
What is a typical monthly industrial bill in Minnesota?
177,255 kWh at 9.15 cents, price times use, comes to $16,219.
How many industrial electricity accounts does Minnesota have?
9,410 accounts, or 1.65 per 1,000 residents.
When were Minnesota industrial prices highest since 2015?
2022 at 9.25 cents; the low was 7.02 cents in 2015.
What did Minnesota industrial electricity cost in 2025?
Minnesota averaged 9.32 cents per kWh, +1.9% against 9.15 in 2024, and 18 of 51 among states.
Are Minnesota industrial electricity prices rising in 2026?
Minnesota is -0.5 points against the U.S.: 9.75 cents from January to July 2026, +5.4% on 2025.
When in 2025 did Minnesota industrial power cost most, June or April?
June at 9.80 cents in Minnesota; April was the lowest at 8.34, a 18% spread.
Does Minnesota industrial power cost more than the national average in 2026?
0.72 cents above the national average; Minnesota 9.75 cents over January to July 2026, +5.4% on 2025.
More on Minnesota industrial
- Minnesota state hub44 utilities, 507 accounts per 1,000
- Minnesota residential rates15.45 ¢, rank 20 of 51
- Minnesota commercial rates12.15 ¢, rank 21 of 51