Average Price: Electricity per Kilowatt-Hour in the East North Central Census Division
APU023072610 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.16
Year-over-Year Change
-0.61%
Date Range
1/1/2018 - 12/1/2024
Summary
The Average Price: Electricity per Kilowatt-Hour in the East North Central Census Division tracks the average retail price of electricity for residential, commercial, and industrial consumers in this Midwest U.S. region. This key metric provides insights into regional energy costs and consumption patterns.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic trend represents the average retail price of electricity per kilowatt-hour (kWh) in the East North Central Census Division, which includes Illinois, Indiana, Michigan, Ohio, and Wisconsin. The data is used by policymakers, utilities, and analysts to monitor regional energy market dynamics and inform energy policy decisions.
Methodology
The data is collected through surveys of electric power providers by the U.S. Energy Information Administration.
Historical Context
This trend helps inform decisions around energy infrastructure, pricing, and consumer affordability across the Midwest region.
Key Facts
- Electricity prices in the East North Central region averaged $0.10 per kWh in 2021.
- Residential consumers paid the highest average price at $0.13 per kWh.
- Industrial consumers paid the lowest average price at $0.07 per kWh.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of electricity per kilowatt-hour (kWh) for residential, commercial, and industrial consumers in the East North Central Census Division, which includes Illinois, Indiana, Michigan, Ohio, and Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into regional energy market dynamics, electricity consumption patterns, and cost of living in the Midwest U.S. It is used by policymakers, utilities, and analysts to inform energy policy and infrastructure decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of electric power providers by the U.S. Energy Information Administration.
Q: How is this trend used in economic policy?
A: This trend helps inform decisions around energy infrastructure, pricing, and consumer affordability across the Midwest region. It is used by policymakers, utilities, and analysts to monitor regional energy market dynamics.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 2 months. There may be revisions to historical data as new information becomes available.
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Citation
U.S. Federal Reserve, Average Price: Electricity per Kilowatt-Hour in the East North Central Census Division (APU023072610), retrieved from FRED.