Energy Cost

Average Retail Price of Electricity

What does this mean?

The relative average retail price of electricity and natural gas is a measure of a fundamental expense for each consumer sector; residential, commercial and industrial impacting quality of life, ability to provide affordable services and the cost of manufacturing goods, respectively.

Why does this matter?

This data represents a competitive advantage and/or disadvantage as compared to adjacent states, competitor regions and national average. Energy competitiveness impacts household energy costs which contributes to retention and migration of residents, the cost of doing business and subsequent retail cost of services/goods in NC and can be a key cost factor for existing manufacturers/employers and catalyst for economic development prospects.

Source: US Energy Information Administration