Minnesota electricity prices, March 2024
- Month
- March 2024, final
- File
- Form EIA-861M
- Price among 51
- 26th from the highest
The average residential price in Minnesota was 14.88 cents per kilowatt-hour (kWh) in March 2024. Final
In March 2023, the price was 13.94 cents per kWh. The March 2024 price was 0.94 cents per kWh higher than the March 2023 price.
The US average was 16.67 cents per kWh in March 2024. In March 2024, Minnesota had the 26th highest average residential price among the 50 states and the District of Columbia.
The average bill of a residential customer for the month was $104.19, for 700 kWh. A bill for one month changes with the season.
EIA marks this month as final. EIA adjusted the months of this year to the final Form EIA-861 data.
Average price of electricity to ultimate consumers represents the cost per unit of electricity sold and is calculated by dividing electric revenue from ultimate consumers by the corresponding sales of electricity.
The average price of electricity to ultimate consumers reported in this publication by sector represents a weighted average of consumer revenue and sales, and does not equal the per kWh rate charged by the electric power industry participant to the individual consumers.
EIA's words. Source: U.S. Energy Information Administration, Electric Power Monthly, Technical notes, section "Form EIA-861" (March 2024). "This publication" is the Electric Power Monthly.
In plain words: the average price is revenue divided by sales. It is not the rate on a rate schedule. The figures on this page are EIA's own state averages. Monthly data through .
Average price by sector
Cents per kWh
| Sector | Mar 2024 cents per kWh | Mar 2023 cents per kWh | Change percent | US, Mar 2024 cents per kWh |
|---|---|---|---|---|
| Residential | 14.88 | 13.94 | +6.7% | 16.67 |
| Commercial | 11.79 | 12.02 | -1.9% | 12.47 |
| Industrial | 9.01 | 9.09 | -0.9% | 7.68 |
| All sectors | 11.96 | 11.85 | +0.9% | 12.57 |
Sales, customers and bill
Residential, unless the row says all sectors
| Figure | Mar 2024 | Mar 2023 | Change percent |
|---|---|---|---|
| Residential sales | 1.8 TWh | 2 TWh | -12.2% |
| Sales, all sectors | 5.3 TWh | 5.6 TWh | -5.7% |
| Residential customers | 2,569,279 | 2,544,635 | +1.0% |
| Average residential bill (dollars in the month) | $104.19 | $112.28 | -7.2% |
| Average residential use (kWh in the month) | 700 | 806 | -13.2% |
| US residential price (cents per kWh) | 16.67 | 16.04 | +3.9% |
The 25 months to March 2024
Form EIA-861M
Minnesota, residentialUS, residential
Where the figures come from
Source: U.S. Energy Information Administration, Form EIA-861M sales and revenue workbook (state by sector and month). EIA status of this month: final. The series runs through July 2026. The average price is revenue divided by sales. The average bill is residential revenue divided by residential customers. The annual figures of each utility are on the Minnesota page.
Questions about March 2024 in Minnesota
- What did businesses pay for electricity in Minnesota in March 2024?
- The average commercial price was 11.79 cents per kWh. The average industrial price was 9.01 cents per kWh. The average for all sectors was 11.96 cents per kWh.
- How much electricity did residential customers in Minnesota buy in March 2024?
- Residential customers bought 1.8 TWh of electricity in March 2024. One TWh is 1,000,000,000 kWh. The quantity was 12.2% lower than the quantity in March 2023.
- How many residential customers did Minnesota have in March 2024?
- Minnesota had 2,569,279 residential customers in March 2024. The number was 1.0% higher than the number in March 2023. A customer is one account or one meter, not one person.