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Electricity Monthly Update

With Data for June 2014  |  Release Date: Aug. 25, 2014  |  Next Release Date: Sep. 25, 2014
Re-release date: September 03, 2014   |   Revision

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End Use: June 2014

Retail rates/prices and consumption

In this section, we look at what electricity costs and how much is purchased. Charges for retail electric service are based primarily on rates approved by state regulators. However, a number of states have allowed retail marketers to compete to serve customers and these competitive retail suppliers offer electricity at a market-based price.

EIA does not directly collect retail electricity rates or prices. However, using data collected on retail sales revenues and volumes, we calculate average retail revenues per kWh as a proxy for retail rates and prices. Retail sales volumes are presented as a proxy for end-use electricity consumption.

Average revenue per kWh by state

June 2014 continued a streak as the 19th month in a row where U.S. revenue per kilowatthour averages were higher than the same month of the previous year. The increase has not been large, a 3% year-over-year difference on average over the 19-month period, but a persistent increase nonetheless.

Individually, forty-four states and the District of Columbia had higher average revenue per kWh figures than last April. The largest increase occurred in Illinois, up almost 14% compared to last June. The next largest increases occurred in Alaska and Rhode Island, where revenue per kilowatthour averages were up more than 10% from a year ago.

Total average revenues per kilowatthour averaged 10.75 cents in June, 2.7% higher than last year. Each sector increased, with the residential sector leading the way, up 3.4% to 12.97 cents per kilowatthour. The commercial sector climbed 2.2% to 10.94 cents per kilowatthour and the industrial sector increased 2.4% to 7.30 cents per kilowatthour.

Total retail sales volumes increased 0.6% from last June, totaling 319,302 GWh, in spite of a slight drop in residential sales volumes. The residential sector is very sensitive to changes in weather, and a cooler June across much of the country relative to last year suppressed climate control demand slightly. Both commercial and industrial sectors had higher sales volumes than last June, up 0.9% and 1.1%, respectively.

Retail sales

Electric industry retail sales volume trends generally mimicked weather patterns. In regions of the country where the weather was cooler than last summer, such as New England and the Rocky Mountain region, retail sales volumes decreased as air conditioning loads were likely lower. In areas of the country where the weather was warmer than last year, in the Southeast and Great Lakes region, retail sales volumes were higher.

North Dakota had the highest increase in retail sales volumes in June, up nearly 10% from last year, the third month in a row the state recorded the highest year-over-year increase. South Carolina, Washington and Iowa also had retail sales volume increases greater than 4%.

This month, the state with the largest year-over-year decrease in retail sales volumes was Maine, down 14%. This is the first month since September 2013 that a state other than Kentucky had the largest decline in sales volumes. Kentucky, down 7% in June relative to last year, continues to be affected by year-over-year comparisons related to the closure of a large energy consumer last fall, the United States Enrichment Corporation facility in Paducah, Kentucky.

When looking at cooling degree day (CDD) comparisons to last year, the weather was generally cooler in the Northeast and through much of the western US, and warmer than last year in the Southeast and Great Lakes region. The largest increase in year-over-year CDDs were found in Indiana, Ohio and Illinois, all up more than 19%. The states with the largest decreases in year-over-year CDDs were Montana, Wyoming, Maine, Oregon, Vermont and Rhode Island, all down more than 40%.

Relative to normal temperatures, June was generally warmer than normal across much of the U.S., with most states recording a higher-than-normal number of cooling degree days (CDDs). The top seven states with the highest increase in CDDs were located in the Southeast (North and South Carolina, Georgia, Virginia and Kentucky), the District of Columbia and West Virginia. The top five states with the lowest amount of CDDs relative to long-term normals were found in the upper Midwest and Rocky Mountain states (North and South Dakota, Wyoming, Montana and Nebraska).

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