Minnesota Electricity Prices

Minnesota's residential electricity rate stood at 17.20¢/kWh as of August 2026, ranking 21st most expensive among the 50 states and DC. This rate is 0.96¢/kWh below the national average of 18.16¢/kWh, placing the state about 5.3% cheaper than the country overall. Among bordering states, only Iowa at 17.06¢/kWh comes close to Minnesota's price; Wisconsin is notably higher at 19.41¢/kWh, while South Dakota at 15.15¢/kWh and North Dakota at 13.31¢/kWh are considerably lower. Commercial and industrial rates stand at 13.41¢/kWh and 9.96¢/kWh respectively.

Over the past five years since August 2021, Minnesota's residential rate has climbed 22.8%, from 14.01¢/kWh. The two-decade increase since August 2006 was steeper at 87.8%, from 9.16¢/kWh. Since records began in January 2001, the rate has risen 144.7%, from 7.03¢/kWh. The current rate sits just below the state's record high of 17.52¢/kWh set in June 2026, and far above the historical low of 7.02¢/kWh in December 2001.

Minnesota's average monthly residential bill of $121 for 744 kWh is substantially lower than the national average bill of $158 for 876 kWh. Though Minnesota residents use less electricity monthly than the national figure, the combination of a below-average rate and below-average consumption keeps their bills well below the national median. Year over year, rates rose just 1.7% in the past twelve months.