I'm in Indiana and pay $0.103. I belong to an REMC which is a non-profit cooperative electric provider. If they happen to overcharge us and later calculate that they made a profit, they send us a pro-rated check in the mail at the end of the year to bring it back to break-even...in fact I just got a $65 check from them last week. If I consider that refund it actually drops my effective rate over the past year to approx $0.099/kwh. They also give us free LED lightbulbs of all types, free electric water heater maintenance & 50% off replacements, super low cost energy efficiency audits for the home, etc. Lots of benefits that save me even more money. I've lived here 21 years now and am very pleased with service, and rates, and reliability, of our electric utility.
And our gasoline happens to be averaging about $1.90 at the moment. Been seeing some $1.79 prices in some places like Costco and other discounters. This is more a worldwide supply & demand issue, but I don't think it's any coincidence that Indiana is a big ethanol producer...no matter where anyone stands on the politics of that controversial product, it does help keep our end consumer prices lower in gasoline as well.
On the low electric rates it's a rural midwest thing for sure, not necessarily capacity market or any regulatory thing. We are indeed a coal mining state, which helps keep rates low. But much of our coal is converting to natural gas now as time passes, and the coal mining is slowing down...many coal plants have converted, or are in the process of converting. AND we also have giant wind turbine farms popping up EVERYWHERE around here now all over our corn and soybean fields, and a few large solar farms. I don't pretend to know how they all interrelate, or how much power comes from each source. But just realize not all utilities are for-profit entities, and not all are just trying to please their stockholders. Mine has no interest in pleasing anyone but its members, because there are no stockholders to push for a profit. Keeps our rates low.
So yeah our cost of living overall is lower. And lets not forget our Indiana wages are lower too, when comparing to those doing similar jobs closer to the coasts. There's give and take everywhere. I'll let others debate where the true end result of it all lies...I'll just live my life and enjoy the process.
But those who have grown accustomed to elevated gas and electric prices on the coasts, from large for-profit utilities, may not benefit from low electric and gasoline prices elsewhere...but they indeed exist for various reasons both good and bad, here in the heartland...