North Dakota industrial electricity rates

Analyst note

The North Dakota industrial price sat above the U.S. average in 7 of 10 years; the gap was +1.16 ¢ in 2015 and -0.88 ¢ in 2024. In the 2024 ranking North Dakota sits between Alabama (7.25 ¢) one place above and Georgia (7.21 ¢) one place below; the top of the list is 26.88 ¢ away and the bottom 1.82 ¢. North Dakota was 15th in 2015 with 8.07 ¢ and is 37th now; a fall in the table. North Dakota industrial prices rose in 3 of 9 years. The largest rise was +4.6% in 2018, and the largest fall -8.6% in 2020. The North Dakota price peaked at 8.07 ¢ in 2015 and bottomed at 7.25 ¢ in 2024; 2024 is 10.2% below the peak and +0.0% from the low. Compounded, that is -1.18% a year in North Dakota, -3.01 points against the U.S. North Dakota buys 1.31% of all U.S. industrial electricity with 0.97% of the accounts, so the average North Dakota account uses 1.35 times the national average.

North Dakota industrial customers paid 7.25 ¢ in 2024, which puts the state 37th of 51, a middle position, 0.88 ¢ under the U.S. Nine years moved the North Dakota industrial price -10.2% (-1.2% a year), behind the U.S. by 27.8 points. The sharpest year was 2020 at -8.6%; the peak came in 2015.

The latest North Dakota year moved -1.6%, so prices have cooled. The North Dakota residential price of 11.51 ¢ sits 4.26 ¢ above. A North Dakota industrial account uses 103,934 kWh a month; priced at 7.25 ¢ that is about $7,535, and the sector buys 45.5% of North Dakota's power.

Counting revenue instead of kWh, North Dakota industrial accounts bring in 41.6% of North Dakota sector revenue on 45.5% of the kWh, a discount of 3.9 points that comes from the price level: 7.25 ¢ here against 11.51 ¢ for residential and 7.19 ¢ for commercial accounts. The average North Dakota industrial account uses 103,934 kWh a month, 27 of 51 among states on that measure; a residential account uses 0.01 times as much and a commercial account 0.12 times. Industrial accounts are 2.24% of the 485,894 accounts in North Dakota.