Ohio commercial electricity rates

Analyst note

The Ohio commercial price sat above the U.S. average in 0 of 10 years; the gap was -0.57 ¢ in 2015 and -2.09 ¢ in 2024. In the 2024 ranking Ohio sits between Georgia (10.87 ¢) one place above and South Carolina (10.64 ¢) one place below; the top of the list is 27.52 ¢ away and the bottom 3.47 ¢. Ohio was 25th in 2015 with 10.07 ¢ and is 32nd now; a fall in the table. Ohio commercial prices rose in 5 of 9 years. The largest rise was +6.6% in 2022, and the largest fall -3.9% in 2019. The Ohio price peaked at 10.75 ¢ in 2023 and bottomed at 9.53 ¢ in 2020; 2024 is 0.8% below the peak and +11.9% from the low. Compounded, that is +0.63% a year in Ohio, -1.40 points against the U.S. Ohio buys 3.50% of all U.S. commercial electricity with 3.22% of the accounts, so the average Ohio account uses 1.09 times the national average.

A middle price: 10.66 ¢/kWh for Ohio commercial accounts, rank 32 of 51, -16.4% against the U.S. Ohio: +5.9% over nine years, or +0.6% a year, trailing the national +19.8% by 14.0 points; 2022 was the biggest single move (+6.6%) and 2023 the high.

Last year's change in Ohio was -0.8% and flat. Against the residential price of 15.99 ¢ the gap is 5.33 ¢. Commercial sales are 33.1% of Ohio electricity sold, and an average Ohio account used 6,749 kWh a month, an implied bill near $719.

Counting revenue instead of kWh, Ohio commercial accounts bring in 31.2% of Ohio sector revenue on 33.1% of the kWh, a discount of 1.9 points that comes from the price level: 10.66 ¢ here against 15.99 ¢ for residential and 7.10 ¢ for industrial accounts. The average Ohio commercial account uses 6,749 kWh a month, 13 of 51 among states on that measure; a residential account uses 0.13 times as much and an industrial account 34.32 times. Commercial accounts are 10.84% of the 5,787,738 accounts in Ohio.