North Carolina Electricity Prices

North Carolina's residential electricity rate stands at 15.09¢/kWh as of May 2026, ranking 35th among the 50 states and DC — closer to the middle of the pack than to either extreme. This is 18.2% below the national average of 18.44¢/kWh, a difference of 3.35¢/kWh that puts the state notably cheaper than Virginia at 17.61¢/kWh and South Carolina at 16.18¢/kWh, though slightly higher than Georgia at 15.84¢/kWh and Tennessee at 14.47¢/kWh. Commercial and industrial rates are 10.44¢/kWh and 7.78¢/kWh respectively.

The residential rate has climbed substantially over longer timeframes. Since May 2021, it has risen 29.5% from 11.65¢/kWh. Over the past twenty years since May 2006, the increase totals 63.5% from 9.23¢/kWh. Compared with records extending back to January 2001, the rate has more than doubled, up 100.4% from 7.53¢/kWh. The current price sits just below the state's recent high of 16.25¢/kWh set in April 2026, and vastly above its all-time low of 7.53¢/kWh from January 2001.

A typical household's monthly bill is $150 for 1,036 kWh of usage. This bill runs slightly lower than the national average of $155, despite North Carolina's above-average monthly consumption; the national figure corresponds to 871 kWh. The difference reflects how the state's below-average rate more than compensates for residents' higher electricity usage.