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 18,976 total consumers, the provider supplies electricity to 5 industrial locations, 1,517 commercial locations and 17,454 residential customer accounts. Benco Electric Cooperative charges their patrons a residential electricity rate of 13.88 cents per kilowatt hour on average. This is 1.54% above the US average rate of 13.67 cents, which ranks the supplier 2247th out of 2922 suppliers in the nation for lowest average electricity price. The provider sold 341,043 megawatt hours by way of retail sales in 2020. The electricity sourced by the supplier primarily came from megawatt hours that they procured on the wholesale electricity market. They purchased 359,566 wholesale megawatt hours. In 2020, the company made a total of $44,474,000 from business activities relating to the sale and transfer of electricity. All of which came from retail sales to end users.

The average monthly residential power bill for a consumer of Benco Electric Cooperative is $145.8 per month. Customers of the company pay 37.53% 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 1.17 electrical outages a year with outages lasting an average of 113.72 minutes.