Lakefield, Minnesota Electric Utility

About Lakefield, Minnesota Electric Utility

Lakefield, Minnesota Electric Utility supplies electricity in Lakefield, Minnesota. The supplier recently disclosed a total of 864 residential customers and 173 commercial customer accounts. This is the sum of their customer base. Customers of Lakefield, Minnesota Electric Utility are billed an average residential electricity rate of 11.70 cents per kilowatt hour. Fortunately for their patrons, this price is lower than both the state and national average prices of 15.86 and 16.22 cents per kilowatt hour, respectively. The company sold 13,623 megawatt hours in 2019 via retail accounts. The electricity they sourced was made up of megawatt hours generated by the company in electricity plants they own and megawatt hours that they purchased on the wholesale electricity market. They purchased 15,059 wholesale megawatt hours. In 2019, the provider made a total of $1,477,200 from retail electricity sales to end users.

The state average monthly residential electricity bill is $107.56, while the Lakefield, Minnesota Electric Utility average is 13.67% less at $87.96 per month. This is the 32nd lowest average monthly bill amount for a supplier in the state. Lakefield, Minnesota Electric Utility is the 2495th largest electricity company out of 3530 electricity companies in the US based on total megawatt hours sold. Electricity generation is not part of the Lakefield, Minnesota Electric Utility business model, as they purchase electricity at wholesale rates from other companies to then be resold to their consumers. Lakefield, Minnesota Electric Utility generates 13 megawatt hours from their generation facilities, which ranks them as the 849th largest producer of electricity of all 3530 providers in the United States.