Electricity Rates in Richmond, VA
Virginia Electric & Power Co residential rate
14.09¢/kWh
11.2% below the Virginia average of 15.87¢
Source: EIA, 2024 annual data · Virginia Electric & Power Co serves 2383548 residential customers
What Does Electricity Cost in Richmond?
If you're a Virginia Electric & Power Co customer in Richmond, you pay an average of 14.09 cents per kilowatt-hour for residential electricity. That's lower than the Virginia state average of 15.87 cents, so your appliances cost less to run than most people in your state.
Here's what that rate means in real dollars for common household appliances:
Monthly Appliance Costs at Richmond's Rate
| Appliance | Typical Use | Monthly Cost in Richmond |
|---|---|---|
| Space Heater | 8 hrs/day | $50.72 |
| Central Air Conditioner | 8 hrs/day | $118.36 |
| Refrigerator | 24 hrs/day | $18.26 |
| Dishwasher | 1 hrs/day | $7.61 |
| Electric Oven | 1 hrs/day | $10.57 |
| Clothes Washer | 1 hrs/day | $2.11 |
| Clothes Dryer | 1 hrs/day | $21.14 |
| 50-Inch LED TV | 5 hrs/day | $2.11 |
| LED Light Bulb | 6 hrs/day | $0.25 |
| Electric Water Heater | 3 hrs/day | $57.06 |
For a complete list of appliance costs at your rate, use the appliance cost calculator with Virginia selected.
Richmond vs. Virginia Average
Virginia's average residential rate is 15.87 cents per kWh, but that average includes every utility in the state. Your actual cost depends on which utility serves your address.
| Richmond (Virginia Electric & Power Co) | Virginia Average | |
|---|---|---|
| Rate per kWh | 14.09¢ | 15.87¢ |
| Est. monthly bill (886 kWh) | $125 | $141 |
| Est. annual cost | $1498 | $1687 |
Based on the national average household consumption of 886 kWh/month. Your actual bill depends on your home's size, insulation, appliances, and habits. Use the bill estimator to get a more personalized estimate.
Calculate Your Cost in Richmond
Tips for Lowering Your Bill in Richmond
No matter what rate you pay, the biggest savings come from the biggest consumers. Heating and cooling account for nearly half the average electric bill, so start there.
- Set your thermostat to 68F in winter and 78F in summer. Each degree of adjustment saves about 3-5% on heating/cooling costs.
- Check your HVAC filter monthly. A dirty filter makes the system work harder, costing you $5-$15/month in wasted electricity.
- If your water heater is set above 120F, lower it. Each 10-degree reduction saves 3-5% on water heating costs.
- Switch any remaining incandescent bulbs to LED. Each bulb saves about $7/year.
For more specific strategies, see our guide on how to lower your electric bill.
See the full rate picture for your state on the Virginia electricity rates page.
Frequently Asked Questions
The average residential electricity rate in Richmond is 14.09 cents per kWh, based on Virginia Electric & Power Co's most recent annual data reported to the EIA. This rate reflects the average price including all charges (supply, delivery, and fees) divided by total kWh sold to residential customers.
Based on Richmond's rate of 14.09 cents/kWh and the national average consumption of 886 kWh/month, a typical electric bill in Richmond would be approximately $125/month or $1498/year. Your actual bill depends on your home's size, insulation quality, heating/cooling system, and appliance usage. Use the bill estimator to get a more accurate estimate based on your specific appliances.
The primary residential electricity provider in Richmond is Virginia Electric & Power Co, which serves approximately 2383548 residential customers. Virginia Electric & Power Co is investor owned-owned. Some areas may have additional providers or co-ops; check your bill to confirm which utility serves your specific address.
Rate data from the U.S. Energy Information Administration (EIA), 2024 annual data. Rates reflect average residential prices and may differ from your specific rate plan. See our full disclaimer.