Gulf Coast Electric Cooperative

About Gulf Coast Electric Cooperative

Gulf Coast Electric Cooperative is an electric cooperative. The largest city served by the provider is Panama City, but the company also supplies electricity to 8 cities in Florida. Electricity providers must regularly report the total number of customers signed on for their services to government agencies. In the most recent report the company reported 22,754 customers receiving their services. Around 21,198 of these are residential accounts and 6.84% are commercial accounts. Gulf Coast Electric Cooperative's consumers are billed an average residential electricity price of 14.28 cents per kilowatt hour, which is 0.18% lower than the average Florida rate of 14.31 cents, a welcome situation for their patrons. They had total sales and disposition of 375,685 megawatt hours in 2023, of which 360,436 megawatt hours were from sales to end users. The purchase of wholesale electricity made up 100.28% of the electricity sourced by the company. The revenue for Gulf Coast Electric Cooperative in 2023 from electricity sales was $62,360,000, with $50,328,000 from retail sales to end users.

The national average monthly residential electric bill is $143.38, while the Gulf Coast Electric Cooperative average is 24.54% higher at $178.57 per month. Gulf Coast Electric Cooperative is the 2453rd ranked company in the nation for average monthly bill total. Customers of the provider are faced with 3.8 power outages a year with outages lasting an average of 599.56 minutes. The company currently does not produce any of the electricity that they sell. Instead, they must purchase that electricity at wholesale rates and then resell it at a higher rate to end consumers.