Hopkinton, Iowa Electric Utility

About Hopkinton, Iowa Electric Utility

Hopkinton, Iowa Electric Utility is a municipally owned organization supplying electricity in Hopkinton, Iowa. Currently, 403 consumers are provided electricity by the company. These customers are a mix of 346 residential properties, 56 commercial properties and one industrial customer. Hopkinton, Iowa Electric Utility's customers pay an average residential electricity rate of 15.02 cents per kilowatt hour, resulting in the supplier ranking 126th out of 183 providers in the state and 1904th out of 2885 in the nation. Around 4,457 megawatt hours were sold by the provider to retail customers in 2019. The electricity generated in the company's power plants made up 5 of the megawatt hours sourced by the company and the purchase of wholesale electricity made up an additional 4,945 megawatt hours. The total revenue for the company in 2019 from electricity sales was $652,000, with 98.77% coming from retail sales to end users.

Customers of the supplier pay an average monthly residential electricity bill of $104.66. This is 27.00% lower than the US average bill of $143.38. Hopkinton, Iowa Electric Utility is the 147th largest provider out of 177 providers in the state based on total customer count. The company currently does not generate any of the electricity that they sell. Instead, they must purchase that electricity at wholesale prices from other suppliers and then resell it to end customers. The company produces 679th megawatt hours from non-renewable fuel sources per year, ranking them 679th in the nation out of 3530 providers.