North Carolina commercial electricity rates

Analyst note

The North Carolina commercial price sat above the U.S. average in 0 of 10 years; the gap was -1.91 ¢ in 2015 and -2.19 ¢ in 2024. In the 2024 ranking North Carolina sits between South Carolina (10.64 ¢) one place above and South Dakota (10.55 ¢) one place below; the top of the list is 27.62 ¢ away and the bottom 3.37 ¢. North Carolina was 41st in 2015 with 8.73 ¢ and is 34th now; a rise in the table. North Carolina commercial prices rose in 5 of 9 years. The largest rise was +10.5% in 2023, and the largest fall -2.2% in 2021. The North Carolina price peaked at 10.56 ¢ in 2024 and bottomed at 8.44 ¢ in 2017; 2024 is the peak and +25.1% from the low. Compounded, that is +2.14% a year in North Carolina, +0.11 points against the U.S. North Carolina buys 3.41% of all U.S. commercial electricity with 3.86% of the accounts, so the average North Carolina account uses 0.89 times the national average.

North Carolina commercial customers paid 10.56 ¢ in 2024, which puts the state 34th of 51, a middle position, 2.19 ¢ under the U.S. Nine years moved the North Carolina commercial price +21.0% (+2.1% a year), level with the U.S. by 1.1 points. The sharpest year was 2023 at +10.5%; the peak came in 2024.

The latest North Carolina year moved +9.2%, so prices are still climbing. The North Carolina residential price of 14.13 ¢ sits 3.57 ¢ above. A North Carolina commercial account uses 5,495 kWh a month; priced at 10.56 ¢ that is about $580, and the sector buys 36.2% of North Carolina's power.

Counting revenue instead of kWh, North Carolina commercial accounts bring in 32.8% of North Carolina sector revenue on 36.2% of the kWh, a discount of 3.4 points that comes from the price level: 10.56 ¢ here against 14.13 ¢ for residential and 7.77 ¢ for industrial accounts. The average North Carolina commercial account uses 5,495 kWh a month, 25 of 51 among states on that measure; a residential account uses 0.18 times as much and an industrial account 43.51 times. Commercial accounts are 12.89% of the 5,827,719 accounts in North Carolina.