Pennyrile Electric

About Pennyrile Electric

Pennyrile Electric is an electricity cooperative supplying electricity in Kentucky. The supplier recently reported a total of 40,409 residential customer accounts, 6,763 commercial accounts and 26 industrial customers, which makes up the entirety of their customer base. Pennyrile Electric's customers are charged an average residential electricity rate of 12.93 cents per kilowatt hour. This is 3.32% above Kentucky's average rate of 12.52 cents, resulting in the supplier ranking 31st best for average electricity price out of 61 providers in the state. In 2022 the company sold 1,266,844 megawatt hours to end users (known as retail sales). The electricity sourced by the company is made up of primarily wholesale purchased megawatt hours, with 1,332,463 procured by the company. The revenue for the company for 2022 from electricity sales was $150,055,200, with $146,559,000 from retail sales to end users.

The average monthly residential power bill for a consumer of Pennyrile Electric is $150.43 per month. Patrons of the company are stuck with a 18.45% markup compared to the rest of the state. The supplier currently does not produce any of the electricity that they sell. Instead, they must purchase that electricity at wholesale rates from other suppliers and then resell it at a higher rate to end users. The supplier's consumers are faced with an average of 2.38 power outages per consumer each year. These outages last on average of 189.42 minutes, while the nationwide average is 1.27 outages per consumer and 137.24 minutes per outage.