Retail Electricity Price and Cost Trends: 2024 Update

Berkeley Lab’s Retail Electricity Price and Cost Trends summarizes recent trends in retail electricity price levels and price drivers in the United States. This report is intended to serve as a reference document for the diverse set of decision-makers impacted by changes in retail electricity prices and to provide a factual basis for assessing recent changes in retail electricity prices and key underlying drivers. National, regional, and state trends are reported for 2019 through 2023 using publicly-available data for:

• Average retail electricity prices, retail sales, and utility revenues
• Utility capital expenditures, operations and maintenance costs, and fuel and purchased power costs
• Retail electricity sales impacts from behind-the-meter resources

The report also includes qualitative case studies highlighting recent and/or regionally-specific issues contributing significantly to retail electricity price trends