Expenditures in the Electric Power Sector

The electric power sector consists of facilities which generate electricity primarily for use by the public. Energy is used for the generation, distribution, and transmission of electric power.

Total electric power sector expenditures on energy decreased 18.1 percent to $351.7 million from 2022 to 2023. Nuclear fuel expenditures increased 25.7 percent, wood and waste expenditures increased 18.2 percent, and petroleum expenditures increased 9.0 percent. Natural gas expenditures decreased 60.1 percent, and coal expenditures decreased 8.0 percent.

In 2023, the electric power sector spent $244.9 million for coal, $47.4 million for nuclear fuel, $44.8 million for natural gas, $12.1 million for petroleum, and $2.6 million for wood and waste. There were no direct fuel costs for hydroelectric, geothermal, wind, photovoltaic, or solar thermal energy.

Coal expenditures were nearly three-quarters (69.6 percent) of the money spent in the electric power sector on energy in 2023. Expenditures on nuclear fuel and natural gas were 13.5 percent and 12.7 percent, respectively, of the total. Petroleum expenditures were 3.4 percent while wood and waste expenditures were 0.74 percent of the total.

The expenditures are in nominal dollars to provide a better comparison.