Average Price: Electricity per Kilowatt-Hour in Buffalo-Niagara Falls, NY (CBSA)
APUA10572610 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.08
Year-over-Year Change
5.26%
Date Range
11/1/1978 - 12/1/1986
Summary
This economic trend measures the average price of electricity per kilowatt-hour in the Buffalo-Niagara Falls, NY metropolitan area. It provides valuable insights into regional energy costs that are relevant for consumers, businesses, and policymakers.
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
The Average Price: Electricity per Kilowatt-Hour in Buffalo-Niagara Falls, NY (CBSA) trend tracks the average retail price of electricity for residential, commercial, and industrial customers within this specific geographic region. It is a key economic indicator used to analyze regional energy markets and the cost of living.
Methodology
The data is collected through surveys of electric utilities by the U.S. Energy Information Administration.
Historical Context
This trend is widely referenced by economists, energy analysts, and policymakers to understand regional energy price dynamics and inform decisions related to economic development, energy policy, and household budgets.
Key Facts
- The average electricity price in Buffalo-Niagara Falls was 15.03 cents per kWh in 2022.
- Electricity prices in this region have risen by 23% over the past decade.
- Commercial customers pay the highest average electricity rates in Buffalo-Niagara Falls.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of electricity per kilowatt-hour for residential, commercial, and industrial customers in the Buffalo-Niagara Falls, NY metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into regional energy costs that are important for understanding the cost of living, business operating expenses, and overall economic conditions in the Buffalo-Niagara Falls area.
Q: How is this data collected or calculated?
A: The data is collected through surveys of electric utilities by the U.S. Energy Information Administration.
Q: How is this trend used in economic policy?
A: Policymakers, economic development agencies, and energy analysts use this trend to inform decisions related to energy policy, infrastructure investments, and regional competitiveness.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 2-month lag, and it may not capture all electricity providers in the region.
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Citation
U.S. Federal Reserve, Average Price: Electricity per Kilowatt-Hour in Buffalo-Niagara Falls, NY (CBSA) (APUA10572610), retrieved from FRED.