Indiana (IN) electricity and natural gas rates
Electricity
16.73¢
per kWh
Natural gas
$2.33
per therm
Gas and electricity in the same unit
A therm is 29.3 kilowatt hours of energy, so Indiana's gas works out at 7.94¢ per kWh against 16.73¢ for electricity.
That compares the energy you buy, not the heat you get. A furnace throws away a fifth of every therm up the flue, while a heat pump delivers two to three times the heat in a kilowatt hour — so the cheaper unit here is not automatically the cheaper way to heat a house.
Residential sector, US Energy Information Administration, 2026-07. Updated monthly.
How Indiana compares
At 16.73¢ per kWh, Indiana is below the national average of 19.26¢, making it the 29th cheapest of the 51 states we track.
What a typical Indiana household uses
Electricity a month
935 kWh
Bill a month
$158
Households in Indiana use 9% more electricity than the national average and pay 5% more than average. Cheap power absorbs most of that: the meter turns faster here, but at 16.73¢ each unit costs less than it does nationally. The climate is fairly balanced — 5,500 heating degree days against 1,000 cooling ones — so neither season dominates the bill.
More on this: the average electric bill in Indiana, including how far it swings between seasons.
Averaged over twelve months across 3,039,627 residential accounts in Indiana. Source: EIA.
What this means for heating
Indiana sees around 125 freezing nights a year. Whether a heat pump beats a furnace here depends on the gap between those two prices above — not on the equipment.
Run the numbers for your ZIPOther states
More for Indiana
Everything in Indiana
All five figures at once
Average electric bill in Indiana
What households pay
Cost to run AC in Indiana
Per hour and per year
Cost to heat a home in Indiana
Gas vs heat pump
Heat pump cost in Indiana
To install, and vs a furnace
Furnace replacement cost in Indiana
What a new one costs
Solar payback in Indiana
Whether panels pay off