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 Asheboro, Pinehurst, Randleman, Seven Lakes CDP, and Troy. At the moment, there are 34,288 customers of the provider. About 0.02% of them are industrial accounts, 7.92% are commercial customer accounts and 92.06% are residential customers. Consumers of Randolph Electric Membership Corporation purchase electricity for, on average, 15.05 cents per kilowatt hour. While this is higher than the state average rate of 14.12 cents per kilowatt hour, it is below the United States average of 16.19 cents. They sold 496,385 megawatt hours by way of retail sales in 2023. The electricity sourced was made up of megawatt hours that they purchased on wholesale channels. They purchased 522,872 megawatt hours on the wholesale market. The company made $69,039,000 in total revenue from electricity-related activities in 2023 through sales to retail end-users alone.

The North Carolina average monthly residential electric bill is $145.89, while the Randolph Electric Membership Corporation average is 9.58% more at $159.59 per month. Randolph Electric Membership Corporation is the 81st ranked company in the state for average monthly bill amount. The power grid managed by the supplier has an average of 2.29 outages per customer a year, with outages lasting on average 123.27 minutes. The US average for other companies is 1.44 outages per consumer and around 123.49 minutes each outage. The company currently does not produce their own electricity. Instead, they must purchase that electricity at wholesale rates and then resell it at a higher rate to end users.