Nevada commercial electricity rates

Analyst note

The Nevada commercial price sat above the U.S. average in 0 of 10 years; the gap was -1.39 ¢ in 2015 and -2.56 ¢ in 2024. In the 2024 ranking Nevada sits between Iowa (10.22 ¢) one place above and Oregon (10.11 ¢) one place below; the top of the list is 27.99 ¢ away and the bottom 3.00 ¢. Nevada was 33rd in 2015 with 9.25 ¢ and is 41st now; a fall in the table. Nevada commercial prices rose in 5 of 9 years. The largest rise was +30.5% in 2022, and the largest fall -14.4% in 2024. The Nevada price peaked at 11.91 ¢ in 2023 and bottomed at 7.45 ¢ in 2020; 2024 is 14.4% below the peak and +36.8% from the low. Compounded, that is +1.08% a year in Nevada, -0.95 points against the U.S. Nevada buys 0.98% of all U.S. commercial electricity with 0.91% of the accounts, so the average Nevada account uses 1.08 times the national average.

A middle price: 10.19 ¢/kWh for Nevada commercial accounts, rank 41 of 51, -20.1% against the U.S. Nevada: +10.2% over nine years, or +1.1% a year, trailing the national +19.8% by 9.7 points; 2022 was the biggest single move (+30.5%) and 2023 the high.

Last year's change in Nevada was -14.4% and falling. Against the residential price of 15.00 ¢ the gap is 4.81 ¢. Commercial sales are 35.1% of Nevada electricity sold, and an average Nevada account used 6,685 kWh a month, an implied bill near $681.

Counting revenue instead of kWh, Nevada commercial accounts bring in 31.2% of Nevada sector revenue on 35.1% of the kWh, a discount of 3.9 points that comes from the price level: 10.19 ¢ here against 15.00 ¢ for residential and 8.64 ¢ for industrial accounts. The average Nevada commercial account uses 6,685 kWh a month, 14 of 51 among states on that measure; a residential account uses 0.14 times as much and an industrial account 30.64 times. Commercial accounts are 11.89% of the 1,494,281 accounts in Nevada.