Farmers Electric Cooperative Iowa

About Farmers Electric Cooperative Iowa

Farmers Electric Cooperative Iowa provides electricity to 5 counties in the state including counties like Madison County, Cass County, Union County, Guthrie County, and Adair County. The company is an electric cooperative. There are 5,045 customer accounts receiving electricity from the supplier. These customer accounts are made up of 0.08% industrial customers, 2.30% commercial properties and 97.62% residential customers. Customers of Farmers Electric Cooperative Iowa spend, on average, 14.12 cents per kilowatt hour for their electricity, which is 9.59% higher than the average Iowa price of 12.89 cents and 9.68% lower than the nationwide average of 15.64. The company had sales of 111,821 megawatt hours in 2019 sold to end users. The electricity sourced by the company primarily came from megawatt hours that they acquired by way of the wholesale electricity market. They purchased 117,596 wholesale megawatt hours. Their revenue in 2019 from electricity related activities was $13,426,400, with $13,245,000 coming from retail sales to end users.

The state average monthly residential electric bill is $106.9, while the Farmers Electric Cooperative Iowa average is 56.26% more at $181.55 per month. Farmers Electric Cooperative Iowa is the 165th ranked provider in the state for average monthly bill amount. The provider currently does not produce their own electricity. Instead, they must purchase that electricity at wholesale prices from other companies and then resell it to end users.