Average Price: Electricity per Kilowatt-Hour in Minneapolis-St. Paul-Bloomington, MN-WI (CBSA)
APUS24A72610 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.17
Year-over-Year Change
-2.35%
Date Range
11/1/1978 - 12/1/2024
Summary
This economic trend measures the average price of electricity per kilowatt-hour in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. It provides valuable insights into regional energy costs and is a key indicator for policymakers and utility providers.
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 Minneapolis-St. Paul-Bloomington, MN-WI (CBSA) metric tracks the average retail price of electricity for residential, commercial, and industrial consumers in this major metropolitan region. The data is used to analyze trends in regional energy markets and inform decisions around electricity infrastructure, pricing, and policy.
Methodology
The data is collected by the U.S. Energy Information Administration through surveys of electric power providers.
Historical Context
This electricity price trend is widely referenced by policymakers, economists, and industry analysts to assess the energy landscape and its impact on the regional economy.
Key Facts
- Electricity prices in Minneapolis-St. Paul are typically lower than the national average.
- Commercial and industrial sectors account for the majority of electricity consumption in the region.
- Prices have fluctuated in recent years due to changes in fuel costs and energy policies.
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 consumers in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This electricity price trend is a key indicator for policymakers, utility providers, and regional economists to assess energy costs and their impact on the local economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Energy Information Administration through surveys of electric power providers in the region.
Q: How is this trend used in economic policy?
A: Policymakers and utility regulators use this trend to inform decisions around energy infrastructure, pricing, and policies that affect regional competitiveness and consumer costs.
Q: Are there update delays or limitations?
A: The data is published with a short lag, and may not capture rapid, short-term changes in electricity prices.
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Citation
U.S. Federal Reserve, Average Price: Electricity per Kilowatt-Hour in Minneapolis-St. Paul-Bloomington, MN-WI (CBSA) (APUS24A72610), retrieved from FRED.