Oklahoma residential electricity rates

Analyst note

The Oklahoma residential price sat above the U.S. average in 0 of 10 years; the gap was -2.51 ¢ in 2015 and -4.24 ¢ in 2024. In the 2024 ranking Oklahoma sits between Arkansas (12.32 ¢) one place above and Utah (12.22 ¢) one place below; the top of the list is 30.62 ¢ away and the bottom 0.73 ¢. Oklahoma was 45th in 2015 with 10.14 ¢ and is 45th now; no move in the table. Oklahoma residential prices rose in 5 of 9 years. The largest rise was +13.1% in 2022, and the largest fall -2.9% in 2018. The Oklahoma price peaked at 12.44 ¢ in 2022 and bottomed at 10.12 ¢ in 2020; 2024 is 1.6% below the peak and +20.9% from the low. Compounded, that is +2.11% a year in Oklahoma, -0.87 points against the U.S. Oklahoma buys 1.64% of all U.S. residential electricity with 1.31% of the accounts, so the average Oklahoma account uses 1.25 times the national average.

A bottom-ten price: 12.24 ¢/kWh for Oklahoma residential accounts, rank 45 of 51, -25.7% against the U.S. Oklahoma: +20.7% over nine years, or +2.1% a year, trailing the national +30.3% by 9.6 points; 2022 was the biggest single move (+13.1%) and 2022 the high.

Last year's change in Oklahoma was +1.3% and still rising. Against the commercial price of 8.92 ¢ the gap is 3.32 ¢. Residential sales are 33.8% of Oklahoma electricity sold, and an average Oklahoma account used 1,079 kWh a month, an implied bill near $132.

Counting revenue instead of kWh, Oklahoma residential accounts bring in 45.5% of Oklahoma sector revenue on 33.8% of the kWh, a premium of 11.7 points that comes from the price level: 12.24 ¢ here against 8.92 ¢ for commercial and 5.84 ¢ for industrial accounts. The average Oklahoma residential account uses 1,079 kWh a month, 7 of 51 among states on that measure; a commercial account uses 6.58 times as much and a industrial account 86.27 times. Residential accounts are 85.51% of the 2,197,296 accounts in Oklahoma.