Perhaps you have wondered why some states have cheap electricity, and other states have much more expensive electricity. There is one major factor that is important for understanding this: How is electricity produced in those states? There are a variety of sources of power that are used to create electricity, from fossil fuels like coal, petroleum, and natural gas, to other sources such as nuclear power, hydroelectric power, or wind energy. The mix of energy sources plays a large role in the cost of electricity in different states.
There are two sources of energy that tend to produce the cheapest electricity: coal and hydropower. It turns out that four of the top five states with the cheapest electricity get the vast majority of their power from coal; Wyoming (cheapest), West Virginia (third cheapest), Kentucky (fourth cheapest), North Dakota (fifth cheapest) all get at least 93% of their electricity from coal. On the other hand, the other two states in the top six get most of their power from hydropower; Idaho (second cheapest) gets 79% of its electricity from hydropower, and Washington (sixth cheapest) gets 74% of its electricity from hydropower. When it comes to producing cheap electricity, no other sources of energy can compete with coal and hydropower.
It is worth noting that a state with cheap electricity averaged over all sectors (residential, commercial, and industrial) does not necessarily have cheap business electricity as well. Take Wyoming, for example; even though it has the cheapest electricity overall, it is only ninth cheapest for commercial electricity prices. On the other hand, Missouri has only the thirteenth cheapest electricity overall, but it beats out Wyoming with the sixth cheapest electricity for business. It is likely that some states regulate their utilities to be more friendly to business electricity users, much as they may modify taxes or laws governing business to make their states more attractive to businesses.
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