Average Price: Electricity per Kilowatt-Hour in Miami-Fort Lauderdale-West Palm Beach, FL (CBSA)
APUS35B72610 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.14
Year-over-Year Change
-10.13%
Date Range
11/1/1978 - 12/1/2024
Summary
This trend measures the average price of electricity per kilowatt-hour in the Miami-Fort Lauderdale-West Palm Beach, FL metropolitan area. It provides important data for understanding energy costs and utility prices in a major U.S. urban region.
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 metric tracks the average retail price of electricity for residential, commercial, and industrial consumers in the Miami metropolitan area. This data is widely used by policymakers, analysts, and businesses to monitor regional energy costs and utility price trends.
Methodology
The data is collected through surveys of electric utilities by the U.S. Energy Information Administration.
Historical Context
This electricity price trend is a key input for economic analysis of consumer spending, business operations, and policy decisions related to energy and utilities.
Key Facts
- Electricity prices in Miami are above the national average.
- Residential consumers account for the largest share of electricity demand.
- Prices have risen steadily over the past decade.
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 Miami-Fort Lauderdale-West Palm Beach metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This electricity price data is crucial for understanding energy costs and utility price dynamics in a major U.S. urban region, which has important implications for consumer spending, business operations, and economic policymaking.
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: This electricity price trend is a key input for economic analysis, forecasting, and policy decisions related to consumer spending, business costs, and regional energy markets.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Price: Electricity per Kilowatt-Hour in Miami-Fort Lauderdale-West Palm Beach, FL (CBSA) (APUS35B72610), retrieved from FRED.