Redwood Electric Coop

About Redwood Electric Coop

With their main offices in Clements, Minnesota, Redwood Electric Coop supplies electricity to 3 counties throughout Minnesota and is classified as an electricity cooperative. Electricity companies must regularly report the number of customers signed on for their services to government agencies. Most recently the supplier disclosed a total of 4,480 customers signed up to receive electricity from the company. Approximately 0.40% of these customers are industrial properties, 16.88% are commercial customer accounts and 82.72% are residential properties. On average, Redwood Electric Coop charges their consumers a residential electricity rate of 13.02 cents per kilowatt hour. Fortunately, this is 13.75% less than Minnesota's average price of 15.09 cents, ranking the company at 103rd out of 175 providers in Minnesota for lowest average electricity price. The provider had total sales and disposition of 141,375 megawatt hours in 2019, of which 95.35% were from retail sales. The electricity sourced by the company primarily came from megawatt hours that they procured by way of wholesale channels. They purchased 141,375 wholesale megawatt hours. In 2019, the supplier made a total of $14,827,400 from business activities relating to the sale and transfer of electricity. They had 99.53% of their revenue coming from retail sales to end users.

The nationwide average monthly residential electric bill is $132.69, while the Redwood Electric Coop average is 28.80% higher at $170.91 per month. Redwood Electric Coop is the 2642nd ranked provider in the nation for average monthly bill total. The provider does not have ownership in any electricity generation facilities and all of the power that they sell to their customers must be purchased from other companies.