In 2023, the MO average retail electricity price (10.87 ₵/kWh) was lower than the national average (12.68 ₵/kWh).
See the related memo on Retail Electricity Prices 2022.
Retail electricity prices (given as a cost per kilowatthour, a unit expressing an amount of electricity) represent the average end cost to the consumer, including residential, commercial, industrial, and transportation customers. The MO average retail electricity price (10.87 ₵/kWh) is lower than the national average (12.68 ₵/kWh) (Energy Information Administration (EIA) 2024); Figure 1, Table 1). Fuel costs, weather conditions, power demand, and utilities regulations also influence the electricity price seen by consumers (EIA 2023).
Figure 1. Average retail electricity price in 2023. Numerical data can be found in Table 1. Data from EIA (2024).
Table 1. Average retail electricity price per U.S. state in 2023. States are ordered from lowest to highest retail electricity price. Data from EIA (2024).
*This is an update to the memo Retail electricity Prices (April 2024).
References
U.S. Energy Information Administration (2024) U.S. Electricity Profile 2023. https://www.eia.gov/electricity/state/
U.S. Energy Information Administration (2023) Electricity Explained: Factors Affecting Electricity Prices. https://www.eia.gov/energyexplained/electricity/prices-and-factors-affecting-prices.php
