Electricity Rates in Spencer, IN
The average residential electricity rate in Spencer, IN is 16.0¢/kWh based on 2024 EIA data. The city is served by 3 utility providers. This is 6.7% above the Indiana state average.
Electricity Providers in Spencer
| Utility | Residential Rate | Commercial Rate | Type |
|---|---|---|---|
| Duke Energy Indiana, LLC | 13.0¢/kWh | 10.0¢/kWh | Investor Owned |
| South Central Indiana REMC | 18.0¢/kWh | 15.0¢/kWh | Cooperative |
| Utilities Dist-Western IN REMC | 16.0¢/kWh | 15.0¢/kWh | Cooperative |
Estimated Monthly Electric Bill
Based on the average residential rate of 16.0¢/kWh and typical US household usage of 886 kWh/month:
Solar Savings in Spencer
At 16.0¢/kWh, a typical Spencer household spends approximately $1701.12/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 Spencer
Charging an electric vehicle at home in Spencer costs approximately $144.00/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 Spencer, IN?
The average residential electricity rate in Spencer, IN is 16.0¢ per kilowatt-hour (kWh) based on 2024 data. This translates to an estimated monthly bill of $141.76 for a typical household.
Who provides electricity in Spencer?
Spencer is served by 3 electricity providers. Duke Energy Indiana, LLC is the largest provider in the area, though rates and availability vary by specific address.
How do Spencer electricity rates compare to the rest of Indiana?
Spencer's average rate of 16.0¢/kWh is 6.7% above the Indiana state average of 15.0¢/kWh. Residents may benefit from exploring solar energy to offset higher electricity costs.