New York industrial electricity rates

Analyst note

The New York industrial price sat above the U.S. average in 1 of 10 years; the gap was -0.60 ¢ in 2015 and +1.04 ¢ in 2024. In the 2024 ranking New York sits between Maryland (10.01 ¢) one place above and Minnesota (9.15 ¢) one place below; the top of the list is 24.96 ¢ away and the bottom 3.74 ¢. New York was 35th in 2015 with 6.31 ¢ and is 13th now; a rise in the table. New York industrial prices rose in 4 of 9 years. The largest rise was +33.5% in 2024, and the largest fall -9.0% in 2023. The New York price peaked at 9.17 ¢ in 2024 and bottomed at 5.54 ¢ in 2020; 2024 is the peak and +65.5% from the low. Compounded, that is +4.24% a year in New York, +2.42 points against the U.S. New York buys 1.53% of all U.S. industrial electricity with 1.49% of the accounts, so the average New York account uses 1.03 times the national average.

A middle price: 9.17 ¢/kWh for New York industrial accounts, rank 13 of 51, +12.8% against the U.S. New York: +45.3% over nine years, or +4.2% a year, beating the national +17.7% by 27.7 points; 2024 was the biggest single move (+33.5%) and 2024 the high.

Last year's change in New York was +33.5% and still rising. Against the residential price of 24.43 ¢ the gap is 15.26 ¢. Industrial sales are 11.2% of New York electricity sold, and an average New York account used 79,317 kWh a month, an implied bill near $7,273.

Counting revenue instead of kWh, New York industrial accounts bring in 5.3% of New York sector revenue on 11.5% of the kWh, a discount of 6.2 points that comes from the price level: 9.17 ¢ here against 24.43 ¢ for residential and 18.77 ¢ for commercial accounts. The average New York industrial account uses 79,317 kWh a month, 32 of 51 among states on that measure; a residential account uses 0.01 times as much and a commercial account 0.06 times. Industrial accounts are 0.19% of the 8,600,588 accounts in New York.