Electricity Rates in Richmond, VA
Residents of Richmond, VA benefit from relatively low electricity rates, averaging 14.0¢/kWh — 21.3% below the national average. Virginia Electric & Power Co serves the area.
Electricity Providers in Richmond
| Utility | Residential Rate | Commercial Rate | Type |
|---|---|---|---|
| Virginia Electric & Power Co | 14.0¢/kWh | 5.0¢/kWh | Investor Owned |
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 Virginia
Frequently Asked Questions
What is the average electricity rate in Richmond, VA?
The average residential electricity rate in Richmond, VA 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 1 electricity provider. Virginia Electric & Power Co is the largest provider in the area.
How do Richmond electricity rates compare to the rest of Virginia?
Richmond's average rate of 14.0¢/kWh is 6.7% below the Virginia state average of 15.0¢/kWh. Residents enjoy some of the lower rates in the state.