Sierra Electric Cooperative

About Sierra Electric Cooperative

Sierra Electric Cooperative is an electricity cooperative with headquarters in Elephant Butte, New Mexico and supplying electricity to customers in 6 counties in New Mexico. The company recently disclosed a total of 4,389 total customers. Around 85.05% are residential customers and 14.95% of these are commercial accounts. On average, Sierra Electric Cooperative charges their customers a residential electricity rate of 18.00 cents per kilowatt hour. Sadly, this is 26.91% more than the state's average rate of 14.18 cents, resulting in the company ranking 34th best for average electricity rate out of 39 companies in New Mexico. A total of 25,461 megawatt hours were sold by way of wholesale channels. The electricity sourced by Sierra Electric Cooperative is made up of multiple electricity sources including 88 megawatt hours produced at electricity facilities they own and 69,729 megawatt hours procured on the wholesale electricity market. Sierra Electric Cooperative earned $9,321,000 in 2019. Exactly $2,034,000 of that revenue came from electricity sales on the wholesale market and $7,233,000 came from retail electricity sales.

The national average monthly residential power bill is $132.69, while the Sierra Electric Cooperative average is 23.02% less at $102.15 per month. Electricity production is not part of the Sierra Electric Cooperative business plan, as they purchase electricity at wholesale rates to then be resold to their customers.