Randolph Electric Membership Corporation

About Randolph Electric Membership Corporation

Randolph Electric Membership Corporation is an electric cooperative serving the state of North Carolina, including cities like Randleman, Liberty, Biscoe, Franklinville, and Mount Gilead. At the moment, there are 32,554 customers of the provider. About 0.02% of them are industrial accounts, 7.65% are commercial customer accounts and 92.34% are residential customers. Consumers of Randolph Electric Membership Corporation purchase electricity for, on average, 13.40 cents per kilowatt hour. While this is higher than the state average rate of 11.28 cents per kilowatt hour, it is below the United States average of 14.11 cents. They sold 498,788 megawatt hours by way of retail sales in 2020. The electricity sourced was made up of megawatt hours that they purchased on wholesale channels. They purchased 525,184 megawatt hours on the wholesale market. The company made $62,369,600 in total revenue from electricity-related activities in 2020 through sales to retail end-users alone.

The North Carolina average monthly residential electric bill is $120.22, while the Randolph Electric Membership Corporation average is 12.52% more at $135.99 per month. Randolph Electric Membership Corporation is the 79th ranked company in the state for average monthly bill amount. The provider 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 customers.