Monroe Electric

About Monroe Electric

Monroe Electric serves electricity to Monroe, North Carolina and is a municipally owned organization. The supplier recently reported a total of 12,427 total customers, 114 of which are industrial customers, 2,225 are commercial accounts and the rest of which are residential customers. Consumers of Monroe Electric purchase electricity for, on average, 13.35 cents per kilowatt hour. This is, luckily, 5.68% less than North Carolina's average rate of 14.16 cents, resulting in the supplier ranking 51st out of 108 companies in North Carolina for best average electricity rate. In 2023 the company sold 97.81% of their disposition via normal retail sales to end users. Of the megawatt hours they sourced, 693,779 megawatt hours were procured on wholesale channels. They made $58,472,900 in total revenue for 2023 through retail electricity sales alone.

The national average monthly residential electricity bill is $142.37, while the Monroe Electric average is 9.74% less at $128.5 per month. This is the 1408th lowest average monthly bill amount for a provider in the US. The power grid managed by the supplier has 0.2 outages per consumer each year, with outages lasting roughly 23.33 minutes. The US average for other companies is 1.44 outages per consumer and 123.49 minutes an outage. The supplier does not have ownership in any electricity production plants and all of the megawatt hours that they sell to their consumers must be purchased from other suppliers.