North Itasca Electric Cooperative

About North Itasca Electric Cooperative

North Itasca Electric Cooperative is an electricity cooperative. The largest county serviced by North Itasca Electric Cooperative is Itasca County, but the company also provides electricity in 2 counties in the state of Minnesota. There are 5,560 customers receiving service from the provider. These customer accounts are made up of 6.38% commercial accounts and 93.62% residential customers. North Itasca Electric Cooperative has an average residential electricity rate of 17.60 cents per kilowatt hour. This is 12.54% higher than the national average rate of 15.64 cents, which ranks the supplier 2693rd out of 2893 providers in the United States for best average electricity rate. Of the 58,160 megawatt hours North Itasca Electric Cooperative sold and dispossessed, 90.39% were from sales to end users. During the same timeframe, the company obtained 58,160 megawatt hours via wholesale electricity channels. In 2019, they made a total of $8,760,000 from business activities relating to the sale and transfer of electricity. They had 98.87% of their revenue coming from retail sales to end users.

The average monthly residential electricity bill for a customer of North Itasca Electric Cooperative is $125.52 per month, while the Minnesota average is $107.55. Patrons of the supplier pay 13.54% more compared to other residents of Minnesota. The supplier currently does not generate their own electricity. Instead, they must purchase that electricity at wholesale prices and then resell it at a higher rate to end consumers.