Oklahoma commercial electricity rates

Analyst note

The Oklahoma commercial price sat above the U.S. average in 0 of 10 years; the gap was -2.96 ¢ in 2015 and -3.83 ¢ in 2024. In the 2024 ranking Oklahoma sits between Idaho (9.17 ¢) one place above and Virginia (8.72 ¢) one place below; the top of the list is 29.26 ¢ away and the bottom 1.73 ¢. Oklahoma was 51st in 2015 with 7.68 ¢ and is 47th now; a rise in the table. Oklahoma commercial prices rose in 3 of 9 years. The largest rise was +18.9% in 2022, and the largest fall -9.7% in 2023. The Oklahoma price peaked at 10.34 ¢ in 2022 and bottomed at 7.66 ¢ in 2016; 2024 is 13.7% below the peak and +16.4% from the low. Compounded, that is +1.68% a year in Oklahoma, -0.35 points against the U.S. Oklahoma buys 1.75% of all U.S. commercial electricity with 1.53% of the accounts, so the average Oklahoma account uses 1.14 times the national average.

Oklahoma commercial customers paid 8.92 ¢ in 2024, which puts the state 47th of 51, a bottom-ten position, 3.83 ¢ under the U.S. Nine years moved the Oklahoma commercial price +16.1% (+1.7% a year), behind the U.S. by 3.7 points. The sharpest year was 2022 at +18.9%; the peak came in 2022.

The latest Oklahoma year moved -4.5%, so prices have cooled. The Oklahoma residential price of 12.24 ¢ sits 3.32 ¢ above. A Oklahoma commercial account uses 7,095 kWh a month; priced at 8.92 ¢ that is about $633, and the sector buys 35.3% of Oklahoma's power.

Counting revenue instead of kWh, Oklahoma commercial accounts bring in 34.6% of Oklahoma sector revenue on 35.3% of the kWh, a discount of 0.6 points that comes from the price level: 8.92 ¢ here against 12.24 ¢ for residential and 5.84 ¢ for industrial accounts. The average Oklahoma commercial account uses 7,095 kWh a month, 11 of 51 among states on that measure; a residential account uses 0.15 times as much and an industrial account 13.12 times. Commercial accounts are 13.58% of the 2,197,296 accounts in Oklahoma.