Montana industrial electricity rates

Analyst note

The Montana industrial price sat above the U.S. average in 0 of 10 years; the gap was -1.59 ¢ in 2015 and -0.54 ¢ in 2024. In the 2024 ranking Montana sits between Nebraska (7.66 ¢) one place above and Alabama (7.25 ¢) one place below; the top of the list is 26.54 ¢ away and the bottom 2.16 ¢. Montana was 50th in 2015 with 5.32 ¢ and is 36th now; a rise in the table. Montana industrial prices rose in 5 of 9 years. The largest rise was +20.5% in 2021, and the largest fall -5.0% in 2020. The Montana price peaked at 7.80 ¢ in 2023 and bottomed at 5.06 ¢ in 2016; 2024 is 2.7% below the peak and +50.0% from the low. Compounded, that is +4.03% a year in Montana, +2.20 points against the U.S. Montana buys 0.47% of all U.S. industrial electricity with 1.04% of the accounts, so the average Montana account uses 0.45 times the national average.

A middle price: 7.59 ¢/kWh for Montana industrial accounts, rank 36 of 51, -6.6% against the U.S. Montana: +42.7% over nine years, or +4.0% a year, beating the national +17.7% by 25.0 points; 2021 was the biggest single move (+20.5%) and 2023 the high.

Last year's change in Montana was -2.7% and falling. Against the residential price of 12.66 ¢ the gap is 5.07 ¢. Industrial sales are 31.0% of Montana electricity sold, and an average Montana account used 34,645 kWh a month, an implied bill near $2,630.

Counting revenue instead of kWh, Montana industrial accounts bring in 21.8% of Montana sector revenue on 31.0% of the kWh, a discount of 9.3 points that comes from the price level: 7.59 ¢ here against 12.66 ¢ for residential and 11.87 ¢ for commercial accounts. The average Montana industrial account uses 34,645 kWh a month, 46 of 51 among states on that measure; a residential account uses 0.02 times as much and a commercial account 0.10 times. Industrial accounts are 1.68% of the 692,539 accounts in Montana.