Report: North Carolina’s energy prices ranked 35th nationally
(The Center Square) — North Carolina’s electricity costs were nearly 2 cents per kilowatt hour cheaper than the national average in 2021, according to recent analysis from the U.S. Energy Information Administration.
The EIA published new state electricity profiles this month that show the average retail price for electricity in North Carolina was 9.29 cents per kilowatt hour in 2021, compared to a national average of 11.10 cents per kilowatt hour.
North Carolina’s 2021 retail rate came in higher than neighboring Virginia at 9.14 cents, and Kentucky at 9.12 cents, but lower than Tennessee at 9.78 cents, Georgia at 10.43 cents, and South Carolina at 9.96 cents per kilowatt hour. Overall, North Carolina’s retail rate was 35th nationally.
EIA data shows North Carolina’s net generation of about 130 million megawatt hours was about 5.7 million megawatt hours short of total retail sales in 2021, which reached nearly 136 million megawatt hours.
North Carolina was the eighth highest state nationally for total retail sales, behind Texas with 435 million megawatt hours, California with 247 million megawatt hours, Florida at 241 million, Ohio at 147 million, Pennsylvania at 143 million, New York at 141 million, and Georgia at 137 million.
In net generation, North Carolina ranked seventh, following Texas at 481 million megawatt hours, Florida at 246 million, Pennsylvania at 241 million, California at 197 million, Illinois at 181 million, and Alabama at 142 million megawatt hours.
The 2021 EIA data shows that North Carolina’s retail rate and direct use decreased from the year prior, while total retail sales and net generation increased. The state’s primary energy source also shifted from nuclear in 2020 to natural gas in 2021.
North Carolina’s 2020 retail rate was 9.43 cents was kilowatt hour, or .14 of a cent more expensive than in 2021, while direct use decreased from 2,038,637 megawatt hours in 2020 to 1,994,345 megawatt hours in 2021.
Net generation increased by about 5.5 million megawatt hours from 124,363,443 in 2020, and total retail sales jumped by about 5.3 million, from about 130 million megawatt hours in 2020.
North Carolina’s ranking for average retail price was 32nd, while net generation ranked 8th and total retail sales ranked 9th in 2020.
The new EIA data comes as the North Carolina Utilities Commission is reviewing plans from Duke Energy to reduce carbon dioxide emissions, as required by House Bill 951, which was approved by the General Assembly last year.
The law tasks the commission with reducing emissions by 70% from 2005 levels by 2030, and to shift to fully carbon neutral by 2050.
The Commission must complete the Carbon Plan by the end of the year, and review it ever two years thereafter.