Electricity Rates in Richmond, IN
Residents of Richmond, IN benefit from relatively low electricity rates, averaging 14.0¢/kWh — 21.3% below the national average. The city is served by 3 electricity providers, with City of Richmond - (IN) being the largest.
Electricity Providers in Richmond
| Utility | Residential Rate | Commercial Rate | Type |
|---|---|---|---|
| City of Richmond - (IN) | 13.0¢/kWh | 13.0¢/kWh | Municipal |
| Duke Energy Indiana, LLC | 13.0¢/kWh | 10.0¢/kWh | Investor Owned |
| Whitewater Valley Rural EMC | 16.0¢/kWh | 13.0¢/kWh | Cooperative |
Estimated Monthly Electric Bill
Based on the average residential rate of 14.0¢/kWh and typical US household usage of 886 kWh/month:
Solar Savings in Richmond
At 14.0¢/kWh, a typical Richmond household spends approximately $1488.48/year on electricity. Solar panels could reduce this by 50–90%.
The federal solar tax credit covers 30% of installation costs through 2032.
EV Charging Costs in Richmond
Charging an electric vehicle at home in Richmond costs approximately $126.00/month at current rates, based on average driving habits (about 30 kWh per charge, charged daily). Compare to public charging prices at ChargeBuddy.ai.
Nearby Cities in Indiana
Frequently Asked Questions
What is the average electricity rate in Richmond, IN?
The average residential electricity rate in Richmond, IN is 14.0¢ per kilowatt-hour (kWh) based on 2024 data. This translates to an estimated monthly bill of $124.04 for a typical household.
Who provides electricity in Richmond?
Richmond is served by 3 electricity providers. City of Richmond - (IN) is the largest provider in the area, though rates and availability vary by specific address.
How do Richmond electricity rates compare to the rest of Indiana?
Richmond's average rate of 14.0¢/kWh is 6.7% below the Indiana state average of 15.0¢/kWh. Residents enjoy some of the lower rates in the state.