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Choose Energy Business Electricity Index

Our proprietary look inside how states meet electricity needs of companies

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Where does your state rank on this month’s Choose Energy Business Electricity Index?

Oklahoma ranks first in the October Choose Energy Business Electricity Index

State Business Index Rank State Business Index Rank
Alabama 28.2 33 Montana 25.1 20
Alaska 58.2 49 Nebraska 27.6 29
Arizona 28.7 34 Nevada 23.0 6
Arkansas 23.6 10 New Hampshire 41.8 43
California 54.8 48 New Jersey 37.4 42
Colorado 28.8 35 New Mexico 27.8 31
Connecticut 48.1 47 New York 34.6 41
Delaware 24.4 17 North Carolina 24.3 16
Florida 25.9 23 North Dakota 27.3 27
Georgia 25.6 21 Ohio 23.8 12
Hawaii 76.0 50 Oklahoma 20.1 1
Idaho 24.0 14 Oregon 24.2 15
Illinois 23.8 13 Pensylvania 23.4 8
Indiana 27.3 28 Rhode Island 47.5 45
Iowa 31.8 39 South Carolina 25.8 22
Kansas 27.7 30 South Dakota 27.8 32
Kentucky 23.3 7 Tennesee 24.9 19
Louisiana 20.6 2 Texas 20.6 2
Maine 33.3 40 Utah 23.8 11
Maryland 26.7 25 Vermont 42.5 44
Massachusetts 47.6 46 Virginia 22.6 5
Michigan 31.2 38 Washington 21.9 4
Minnesota 31.0 36 West Virginia 23.6 9
Mississippi 24.4 17 Wisconsin 31.0 37
Missouri 27.2 26 Wyoming 26.1 24

The blended Business Electricity index gives some insight into the strength of a state’s business infrastructure and its desirability as a recruiting destination, though other factors also play a role.

Based on an analysis of July 2020 data compiled by the U.S. Energy Information Administration, Oklahoma claims the top spot in the rankings by virtue of having the lowest average rates for industrial electricity – 4.76 cents per kilowatt hour (kWh), and the third- and fourth-lowest residential electricity and commercial electricity rates at 10.12 and 7.87 cents/kWh, respectively.

Louisiana finished second in the index, by virtue of having the second-lowest industrial rate, the seventh-lowest commercial rate, and the lowest residential rate.

How the Business Electricity Index is calculated

ChooseEnergy.com data analysts crunched the numbers on electricity prices by state to find an index that gives the best representation of electricity needs for businesses. Our index includes equally weighted values for commercial and industrial electricity based on monthly state average prices as calculated by the U.S. Energy Information Administration. State average residential electricity prices also are included, because a company’s employees have to live somewhere, but they are given a much lower weight in the index.

Updated: 9/1/2020