North Carolina Electricity Prices

North Carolina's residential electricity rate stood at 14.95¢/kWh in August 2026, ranking 38th most expensive among the 50 states and DC. This rate sits 3.21¢/kWh below the national average of 18.16¢/kWh, making North Carolina notably cheaper than most of the country. Among bordering states, only Tennessee at 13.42¢/kWh undercuts North Carolina; Virginia at 17.64¢/kWh, Georgia at 15.90¢/kWh, and South Carolina at 15.76¢/kWh all charge more. Commercial and industrial rates were 10.73¢/kWh and 8.23¢/kWh respectively.

Over the past five years, the residential rate has climbed 32% from 11.33¢/kWh in August 2021. The longer view shows steeper increases: since August 2006 it has risen 60.6% from 9.31¢/kWh, and since records began in January 2001 it has nearly doubled, up 98.5% from 7.53¢/kWh. The current rate in August 2026 remains below the state's record high of 16.25¢/kWh set in April 2026, though far above the historical low of 7.53¢/kWh from January 2001. Year-over-year growth in the most recent period was 2.4%.

The average North Carolina household pays $154 monthly for 1,043 kWh of electricity, compared with the national average bill of $158 for 876 kWh. Despite the below-average rate, North Carolina's bill falls close to the national figure because of above-average consumption: homes here use substantially more electricity than the national typical household.