Preston, Iowa Electric Utility

About Preston, Iowa Electric Utility

Preston, Iowa Electric Utility is a municipally owned organization serving Preston, Iowa. There are a total of 637 customers receiving service from the supplier. These customers are made up of 507 residential customers and 130 commercial properties. On average, Preston, Iowa Electric Utility bills their customers a residential electricity rate of 14.90 cents per kilowatt hour, which is 4.73% lower than the nationwide average rate of 15.64 cents. This makes the company 2236th out of 2893 providers in the nation for lowest average electricity rate. About 7,198 megawatt hours were sold by the provider to retail end users in 2022. The electricity sourced by Preston, Iowa Electric Utility is made up primarily of megawatt hours they acquired via the wholesale electricity market. This category comprises 100.00% of all electricity sourced by the company. Their total revenue in 2022 was $969,100 and was earned through sales to retail electricity customers alone.

The state average monthly residential electricity bill is $106.9, while the Preston, Iowa Electric Utility average is 9.85% less at $93.82 per month. This is the 57th lowest average monthly bill amount for a supplier in the state. Electricity production facilities owned or managed by the provider use non-renewable fuels to generate 100.00% of their total electricity production, or 10 megawatt hours. They rank 648th in the country out of 3517 companies. Preston, Iowa Electric Utility produces 10 megawatt hours from their generation facilities, which ranks them as the 864th highest generator of electricity of all 3517 suppliers in the United States. Production by the company from natural gas totals 6.65 megawatt hours, which is about 66.51% of their total generation.