What are the default utility rate escalators and how are they determined?
- Samantha Lieberman
- Jordana Norring
- Tucker Marchese (Unlicensed)
Each state in EverBright has a default utility rate escalator that will automatically apply to any job quoted in the respective state. EverBright utilizes data from the US Energy Information Administration (EIA) to determine the default by State.
We used the report Average Price by State by Provider (EIA-861), and considered the residential price for the total electric industry. This contained data from 1990-2023. | |
https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_5_3 | This was used to retrieve 2023 kWh rates by state. |
How is the Default Calculated?
After compiling all the data over the past 30 years, we calculated the % change year-over-year (YOY) by state. We looked at the Average YOY rate change over a 20-year period from 2003-2023 to come up with the state-by-state defaults listed below.
What are the Default Utility Rate Escalators by State?
These defaults are set automatically on the EverBright platform and cannot be overridden.
State | Default Utility Rate Escalator |
AK | 3.58% |
AL | 3.51% |
AR | 2.74% |
AZ | 2.65% |
CA | 4.00% |
CO | 2.92% |
CT | 5.31% |
DC | 3.95% |
DE | 3.37% |
FL | 3.13% |
GA | 3.00% |
HI | 5.76% |
IA | 2.20% |
ID | 3.01% |
IL | 3.43% |
IN | 3.87% |
KS | 2.94% |
KY | 3.96% |
LA | 2.34% |
MA | 5.08% |
MD | 4.18% |
ME | 4.47% |
MI | 4.19% |
MN | 3.29% |
MO | 3.13% |
MS | 3.00% |
MT | 2.56% |
NC | 2.40% |
ND | 2.68% |
NE | 2.55% |
NH | 4.59% |
NJ | 2.65% |
NM | 2.52% |
NV | 3.40% |
NY | 2.37% |
OH | 3.25% |
OK | 2.61% |
OR | 3.01% |
PA | 3.33% |
RI | 4.90% |
SC | 2.91% |
SD | 2.53% |
TN | 3.27% |
TX | 2.45% |
UT | 2.50% |
VA | 3.19% |
VT | 2.49% |
WA | 2.83% |
WI | 3.39% |
WV | 4.26% |
WY | 2.49% |