Vermont industrial electricity rates

Analyst note

The Vermont industrial price sat above the U.S. average in 10 of 10 years; the gap was +3.36 ¢ in 2015 and +3.45 ¢ in 2024. In the 2024 ranking Vermont sits between New Jersey (11.93 ¢) one place above and District of Columbia (10.80 ¢) one place below; the top of the list is 22.55 ¢ away and the bottom 6.15 ¢. Vermont was 9th in 2015 with 10.27 ¢ and is 10th now; a fall in the table. Vermont industrial prices rose in 6 of 9 years. The largest rise was +4.4% in 2018, and the largest fall -5.1% in 2023. The Vermont price peaked at 11.88 ¢ in 2022 and bottomed at 10.21 ¢ in 2017; 2024 is 2.5% below the peak and +13.4% from the low. Compounded, that is +1.34% a year in Vermont, -0.48 points against the U.S. Vermont buys 0.12% of all U.S. industrial electricity with 0.02% of the accounts, so the average Vermont account uses 5.67 times the national average.

Vermont industrial customers paid 11.58 ¢ in 2024, which puts the state 10th of 51, a top-ten position, 3.45 ¢ over the U.S. Nine years moved the Vermont industrial price +12.8% (+1.3% a year), behind the U.S. by 4.9 points. The sharpest year was 2023 at -5.1%; the peak came in 2022.

The latest Vermont year moved +2.8%, so prices are still climbing. The Vermont residential price of 21.90 ¢ sits 10.32 ¢ above. A Vermont industrial account uses 437,815 kWh a month; priced at 11.58 ¢ that is about $50,699, and the sector buys 23.4% of Vermont's power.

Counting revenue instead of kWh, Vermont industrial accounts bring in 14.7% of Vermont sector revenue on 23.4% of the kWh, a discount of 8.7 points that comes from the price level: 11.58 ¢ here against 21.90 ¢ for residential and 18.89 ¢ for commercial accounts. The average Vermont industrial account uses 437,815 kWh a month, 6 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 0.06% of the 388,511 accounts in Vermont.