Benco Electric Cooperative

About Benco Electric Cooperative

Benco Electric Cooperative provides electricity for 8 counties in Minnesota such as the counties of Blue Earth County, Nicollet County, Freeborn County, Le Sueur County, and Martin County. The company is an electricity cooperative. With 19,546 total consumers, the provider supplies electricity to 17 industrial locations, 1,530 commercial locations and 17,999 residential customer accounts. Benco Electric Cooperative charges their patrons a residential electricity rate of 14.85 cents per kilowatt hour on average. This is 5.01% below the US average rate of 15.64 cents, which ranks the supplier 2225th out of 2893 suppliers in the nation for lowest average electricity price. The provider sold 384,887 megawatt hours by way of retail sales in 2022. The electricity sourced by the supplier primarily came from megawatt hours that they procured on the wholesale electricity market. They purchased 404,225 wholesale megawatt hours. The revenue for Benco Electric Cooperative for 2022 from electricity sales was $52,471,000, with $51,702,000 from retail sales to end users.

The average monthly residential power bill for a consumer of Benco Electric Cooperative is $151.3 per month. Customers of the company pay 32.96% more compared to the rest of the state. The supplier does not have ownership in any electricity generation facilities and all of the megawatt hours that they sell to their consumers must be purchased wholesale from other providers. Consumers of the provider deal with 0.77 electrical outages a year with outages lasting an average of 80.86 minutes.