(Salt Lake City, UT) — Utah will have some of the lowest electric rates in the U.S. this year. The cost of electricity for most customers is a little more than one-thousand dollars annually. Utah residents reportedly only paid 11.03 cents per kilowatt hour in 2023 — one-and-a-half times lower than the national average. That total also reflects the fact that residents had a four-and-a-half percent rate increase over the last two years. Texas Electricity Ratings prepared the study looking at numbers crunched state-by-state from U.S. Energy Information Administration data.