The impedance of two parallel plates affected by eddy currents due to skin and proximity effects is found analytically. To the author’s best knowledge, the formula for the reactance is new and incorporates its dependency on the distance between the plates. This part of the reactance is not affected by eddy currents. The analytical formulas are used to discuss the variation of the impedance with the ratio of width w of the plates to the penetration (skin) depth δ. It is shown that at high frequency the normalized resistance increases linearly with w/δ, whereas the normalized eddy current-dependent part of the reactance is inversely proportional to w/δ. This article also computes the problem numerically by the finite-element method, which is used as a tool to verify and compare. Numerical convergence analysis suggests that the open boundary field problem does not converge to the analytical solution as the aspect ratio of the plates increases. Hence, the assumption of parallel field lines should be used with caution.