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Retail Electricity Prices

Written by Dr. Madeleine Roberts
Published on April 23, 2024
Research Highlights

The MO average retail electricity price (10.26 ₵/kWh) is lower than the national average (12.36 ₵/kWh).

See the related Science Note on Grid Reliability.

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 (10.26 ₵/kWh) is lower than the national average (12.36 ₵/kWh) (Figure 1, Table 1, EIA 2023a). Prices reflect the cost of building, operating, and maintaining power sector infrastructure, including the power generation, transmission, and distribution systems (EIA 2023b). Fuel costs, weather conditions, power demand, and utilities regulations also influence the electricity price seen by consumers.

Figure 1. Average retail electricity price in 2022. Numerical data can be found in Table 1. Data from EIA 2023a.

 

Table 1. Average retail electricity price per U.S. state in 2022, ordered from lowest to highest price. Data from EIA 2023a.

*NOTE: This memo was written in response to a specific legislator request and is meant to supplement the research contained in the following full Science Note: Grid Reliability.

 

References

U.S. Energy Information Administration. U.S. Electricity Profile 2022. 2023a. https://www.eia.gov/electricity/state/

U.S. Energy Information Administration. Electricity Explained: Factors Affecting Electricity Prices. 2023b. https://www.eia.gov/energyexplained/electricity/prices-and-factors-affecting-prices.php

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