Electricity rates in 38124 — Memphis, TN
Homes in ZIP 38124 pay about 14.4¢ per kWh (City of Memphis (TN), Jan–Aug 2026). The Tennessee average is 13.4¢ and the U.S. average 18.2¢ (Aug 2026).
What a month of electricity costs
Monthly cost at the average price of 14.4¢ per kWh. Real bills add or subtract fixed charges, tiers, time-of-use and fuel adjustments.
Where ZIP 38124 is
scroll or pinch to zoomUtilities serving 38124
| Utility | Home price | Avg. bill | Customers in TN |
|---|---|---|---|
| City of Memphis (TN) Municipal | 14.4¢ Jan–Aug 2026 | $138 | 380,286 |
| Entergy Arkansas LLC Investor Owned | 13.2¢ Jan–Aug 2026 | $308 | 1 |
Utilities are matched to this ZIP code by NREL’s ZIP–utility table and the EIA service-territory list for Shelby; county matches may serve only part of the area. Prices are each utility’s average residential revenue per kWh.
Tennessee price trend
Hover or tap the chart for exact monthly values. Source: EIA-861M (monthly, latest months preliminary); forecast: EIA Short-Term Energy Outlook (October 2026) for the East South Central region, which includes Alabama, Kentucky, Mississippi, Tennessee.
Averages, not a quote. Prices here are what each utility’s residential customers paid on average (revenue ÷ kWh sold, fixed charges included), as reported to the U.S. Energy Information Administration. Your own rate depends on your plan, season and usage — check your bill or your utility’s tariff.
Questions about 38124
How much does electricity cost in 38124?
About 14.4¢ per kWh for homes (City of Memphis (TN), Jan–Aug 2026, EIA). At 900 kWh a month that is roughly $130.
Who is the electric utility for 38124?
City of Memphis (TN), with about 380,286 residential customers in Tennessee; 1 other utility also serves parts of the area.
Is electricity in TN getting more expensive?
The Tennessee residential average was 13.4¢ per kWh in August 2026, up 2.5% from a year earlier; the U.S. average was 18.2¢.