Virginia commercial electricity rates

Analyst note

The Virginia commercial price sat above the U.S. average in 0 of 10 years; the gap was -2.43 ¢ in 2015 and -4.03 ¢ in 2024. In the 2024 ranking Virginia sits between Oklahoma (8.92 ¢) one place above and Texas (8.55 ¢) one place below; the top of the list is 29.46 ¢ away and the bottom 1.53 ¢. Virginia was 48th in 2015 with 8.21 ¢ and is 48th now; no move in the table. Virginia commercial prices rose in 4 of 9 years. The largest rise was +24.0% in 2022, and the largest fall -7.3% in 2023. The Virginia price peaked at 9.66 ¢ in 2022 and bottomed at 7.63 ¢ in 2020; 2024 is 9.7% below the peak and +14.3% from the low. Compounded, that is +0.67% a year in Virginia, -1.36 points against the U.S. Virginia buys 5.42% of all U.S. commercial electricity with 2.29% of the accounts, so the average Virginia account uses 2.37 times the national average.

A bottom-ten price: 8.72 ¢/kWh for Virginia commercial accounts, rank 48 of 51, -31.6% against the U.S. Virginia: +6.2% over nine years, or +0.7% a year, trailing the national +19.8% by 13.6 points; 2022 was the biggest single move (+24.0%) and 2022 the high.

Last year's change in Virginia was -2.6% and falling. Against the residential price of 14.41 ¢ the gap is 5.69 ¢. Commercial sales are 57.0% of Virginia electricity sold, and an average Virginia account used 14,715 kWh a month, an implied bill near $1,283.

Counting revenue instead of kWh, Virginia commercial accounts bring in 46.9% of Virginia sector revenue on 57.1% of the kWh, a discount of 10.2 points that comes from the price level: 8.72 ¢ here against 14.41 ¢ for residential and 8.99 ¢ for industrial accounts. The average Virginia commercial account uses 14,715 kWh a month, 2 of 51 among states on that measure; a residential account uses 0.07 times as much and an industrial account 20.56 times. Commercial accounts are 10.86% of the 4,104,031 accounts in Virginia.