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Minnesota Electricity Prices

Average retail price by sector. Latest data: May 2026.

Residential
16.95¢ /kWh
▲ 7.0%vs. last year
Commercial
12.88¢ /kWh
▲ 4.6%vs. last year
Industrial
9.80¢ /kWh
▲ 3.8%vs. last year

Average monthly bill

Full bill breakdown →
$119per month▲ 5.7% vs. the year before

16.12¢/kWh × 737 kWh a month. Residential revenue divided by residential customers, averaged over the 12 months to May 2026 — the 44th highest among the 50 states and DC.

Compared with the U.S. and neighboring states

Average monthly residential electricity bill, in US dollars
Minnesota
$119
U.S. average
$155
South Dakota
$138
North Dakota
$130
Wisconsin
$123
Iowa
$119

Minnesota is $37 a month below (-23.6%) the U.S. average of $155. Average monthly bill, June 2025 – May 2026.

How Minnesota makes its electricity

Fuel mix & 10-year trend →Power plants →
Renewable
33.9%
Carbon-free
56.1%
Largest source
Wind 25%
Minnesota electricity generation by source, June 2025 – May 2026
SourceShareGeneration
Natural gas21.6%13,101 GWh
Coal21.6%13,150 GWh
Nuclear22.2%13,464 GWh
Wind24.9%15,124 GWh
Solar5.5%3,338 GWh
Hydro1.6%949 GWh
Other2.7%1,625 GWh

60.8 TWh of net generation over the 12 months to May 2026. Generation, not consumption — power crosses state lines.

Minnesota electricity prices in context

Minnesota's residential electricity rate stands at 16.95¢/kWh as of May 2026, ranking 22nd among the 50 states and DC when counting down from the most expensive. This rate runs 1.49¢/kWh below the US average of 18.44¢/kWh, a difference of 8.1%. Among bordering states, only Iowa at 14.14¢/kWh and North Dakota at 13.61¢/kWh undercut Minnesota, while Wisconsin at 19.74¢/kWh exceeds it. South Dakota stands between Minnesota and Wisconsin at 15.73¢/kWh.

Over the past five years since May 2021, when the rate was 13.63¢/kWh, Minnesota has seen prices climb 24.4%. The longer view stretches further back: since May 2006, the rate has grown 92.4% from 8.81¢/kWh, and since January 2001 it has risen 141.1% from a baseline of 7.03¢/kWh. The current rate sits below the state's record high of 17.12¢/kWh set in June 2025, but substantially above the record low of 7.02¢/kWh from December 2001.

The combination of rate and usage produces a monthly residential bill of $119 against a household consumption of 737 kWh. The national average monthly bill stands at $155 with usage of 871 kWh—Minnesota households use less electricity and pay proportionally less. Commercial and industrial rates in Minnesota are 12.88¢/kWh and 9.80¢/kWh respectively. Year-over-year, the residential rate has risen 7% since May 2025.

Written from the EIA figures on this page, covering data through May 2026.

12-month trend

ResidentialCommercialIndustrial
8.5¢11¢13¢15¢18¢Jun '25Sep '25Dec '25Feb '26May '26ResidentialCommercialIndustrial

Residential history since 2001

6.2¢9.1¢12¢15¢18¢Jan '01May '07Sep '13Jan '20May '26
Jan '01
7.03¢
Now
16.95¢
Change
▲ 141.1%
Range
7.02–17.12¢

Recent months

MonthResidentialCommercialIndustrial
May 202616.9512.889.80
April 202616.3912.499.86
March 202615.0811.189.29
February 202615.3912.099.33
January 202614.9811.409.30
December 202514.9611.619.17
November 202515.6711.899.30
October 202516.3712.049.40
September 202517.1013.189.79
August 202516.9113.069.40
July 202516.9213.179.77
June 202517.1213.549.80

Prices in ¢/kWh.

Frequently asked questions

›How much does electricity cost in Minnesota?
Residential electricity in Minnesota costs 16.95¢ per kilowatt-hour as of May 2026, the 22nd highest rate among the 50 states and DC. Commercial customers pay 12.88¢ and industrial customers 9.80¢ per kilowatt-hour.
›Why is electricity relatively cheap in Minnesota?
Minnesota's residential rate of 16.95¢/kWh is -5.0% versus the U.S. average of 17.84¢/kWh. What a household actually pays also depends on how much it uses: the typical Minnesota home consumes 737 kWh a month against a national average of 871 kWh, which is why its average bill comes to $119.
›Have electricity prices in Minnesota gone up?
Residential electricity in Minnesota has moved +141.1% since 2001, reaching 16.95¢/kWh in May 2026. Over the last year alone the change was +7.0%.
›Is electricity cheaper in states neighboring Minnesota?
Of the states bordering Minnesota, Iowa has the lowest average monthly bill at $119 and South Dakota the highest at $138. Minnesota averages $119 a month, against a U.S. average of $155.