South Carolina industrial electricity rates

Analyst note

The South Carolina industrial price sat above the U.S. average in 0 of 10 years; the gap was -0.86 ¢ in 2015 and -1.29 ¢ in 2024. In the 2024 ranking South Carolina sits between Ohio (7.10 ¢) one place above and Mississippi (6.81 ¢) one place below; the top of the list is 27.29 ¢ away and the bottom 1.41 ¢. South Carolina was 41st in 2015 with 6.05 ¢ and is 41st now; no move in the table. South Carolina industrial prices rose in 6 of 9 years. The largest rise was +17.5% in 2022, and the largest fall -6.3% in 2023. The South Carolina price peaked at 7.13 ¢ in 2022 and bottomed at 5.98 ¢ in 2020; 2024 is 4.1% below the peak and +14.4% from the low. Compounded, that is +1.37% a year in South Carolina, -0.45 points against the U.S. South Carolina buys 2.43% of all U.S. industrial electricity with 0.32% of the accounts, so the average South Carolina account uses 7.52 times the national average.

A middle price: 6.84 ¢/kWh for South Carolina industrial accounts, rank 41 of 51, -15.9% against the U.S. South Carolina: +13.1% over nine years, or +1.4% a year, trailing the national +17.7% by 4.6 points; 2022 was the biggest single move (+17.5%) and 2022 the high.

Last year's change in South Carolina was +2.4% and still rising. Against the residential price of 14.23 ¢ the gap is 7.39 ¢. Industrial sales are 29.9% of South Carolina electricity sold, and an average South Carolina account used 580,614 kWh a month, an implied bill near $39,714.

Counting revenue instead of kWh, South Carolina industrial accounts bring in 18.8% of South Carolina sector revenue on 29.9% of the kWh, a discount of 11.1 points that comes from the price level: 6.84 ¢ here against 14.23 ¢ for residential and 10.64 ¢ for commercial accounts. The average South Carolina industrial account uses 580,614 kWh a month, 4 of 51 among states on that measure; a residential account uses 0.00 times as much and a commercial account 0.01 times. Industrial accounts are 0.12% of the 2,998,873 accounts in South Carolina.