uploads///States_consumption

US states with the highest growth in electricity sales

By

Dec. 4 2020, Updated 10:52 a.m. ET

Electricity consumption 

The US is a large country. It’s divided into 50 states. Consumption trends across the states and regions help identify demand centers in the country.

Rhode Island experienced the highest year-over-year, or YoY, electricity consumption growth for September. The electricity demand grew by 10.6% in September—compared to the same month last year.

Other states with high consumption growth

After Rhode Island, North Dakota registered the second highest YoY growth in September. Its electricity consumption grew by 8% in September—compared to the same month last year. Xcel Energy (XEL) and MDU Resources Group (MDU) operate in North Dakota. They should benefit from the increased electric demand in North Dakota.

The top five states with highest YoY electricity consumption growth for September were:

  • Rhode Island – 10.6%
  • North Dakota – 8%
  • Nevada – 6.3%
  • Maine – 5.1%
  • Arizona – 4.3%
Article continues below advertisement

Texas consumes the most electricity among all of the states in the US. It grew by a healthy 2% in September—compared to the same month last year. American Electric Power Company (AEP) and CenterPoint Energy (CNP) are major power companies that operate in Texas. They’re part of the Utilities Select Sector SPDR (XLU).

Division growth

In terms of division growth, the Pacific Contiguous region had the highest consumption growth. The region grew by 2.8% YoY for September—compared to the same month last year. It was boosted by increased demand in California and Oregon.

Advertisement

More From Market Realist

  • Recon Africa employees
    Energy & Utilities
    Is Recon Africa a Multi Bagger Stock You Should Buy?
  • Dr. Donald Sadoway (second from left) pictured with Paula S. Aspell, David Pogue, and Chris Schmidt
    Energy & Utilities
    Ambri Expands in the Liquid Metal Battery Space, Still Privately Held
  • Valero gas station
    Energy & Utilities
    Valero Energy’s Prospects in 2021, Rebound in Energy and Gas
  • Crude oil pumpjack
    Energy & Utilities
    Oil Stocks Are Going Down, Lower Prices Could Help Markets
  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.