Socorro Electric Cooperative

Electricity Rates, Plans & Statistics

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About Socorro Electric Cooperative

Socorro Electric Cooperative is an electricity cooperative. The largest county serviced by Socorro Electric Cooperative is Valencia County, but the company also provides electricity in 6 counties in the state of New Mexico. A total of 12,994 customers (80.04% residential accounts, 19.56% commercial customers and 0.40% industrial accounts) purchase their electricity from the company. The residential electricity rate for customers of Socorro Electric Cooperative is, on average, 15.56 cents per kilowatt hour, which is 10.27% higher than the national average rate of 14.11 cents. This ranks the company 2599th out of 2923 companies in the nation for lowest average electricity price. The company sold 179,446 megawatt hours through retail sales in 2019. The electricity sourced by the company is made up primarily of megawatt hours they acquired on the wholesale market. Of the total electricity sourced by the company, whole purchased made up 100.00%. In 2019, they made a total of $25,116,000 from business activities relating to the sale and transfer of electricity. They had revenue of $24,942,000 from retail sales to end users.

The average monthly residential electricity bill for a customer of Socorro Electric Cooperative is $84.25 per month, while the New Mexico average is $86.42. Patrons of the supplier pay 1.73% less compared to other residents of New Mexico. The supplier 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 consumers.

Socorro Electric Cooperative Net Metering

Offering net metering to customers is a win-win situation for Socorro Electric Cooperative and citizens who get their electricity from the company. Net metering makes solar panel purchases more economically feasible as it allows consumers to sell electricity into the grid.

Socorro Electric Cooperative Rate & Electric Bills

Socorro Electric Cooperative residential electric rates are highest in January and the highest average bill is in March.

Historical Electricity Rates:

Price Per kWhAverage Bill$0.162/kWh$0.156/kWh$86.74/mo.$81.77/mo.
2599th15.56¢Socorro Electric Cooperative's Average residential price per kWh
517th$84.25Average monthly electricity bill for Socorro Electric Cooperative's residential customers

Socorro Electric Cooperative Overview

  • Company Type:Cooperative
  • Headquarters:215 Manzanares Avenue East
    Socorro, New Mexico 87801
    United States of America
  • CEO:Joseph Herrera

Socorro Electric Cooperative Contact

Socorro Electric Cooperative Service

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Socorro Electric Cooperative Coverage Map

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Socorro Electric Cooperative State Coverage

StateCustomersSales ($)State Rank Based On Revenue% of Provider's Residential Sales in State
New Mexico12,99424,607,00020100%

Socorro Electric Cooperative County Coverage

CountyPopulationProvidersAvg. County Rate (¢)Avg. Electric Bill
Catron County3,579314.55$73.36/mo
Cibola County27,172213.88$80.35/mo
Lincoln County20,269418.18$107.79/mo
Socorro County16,595316.07$88.49/mo
Torrance County15,045217.17$104.36/mo
Valencia County76,205415.23$85.22/mo

Cities Socorro Electric Cooperative Has Coverage

* City coverage generated based on government data. Always verify you can get service from the provider.

Socorro Electric Cooperative Reviews

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Socorro Electric Cooperative FAQ:

Who is the CEO of Socorro Electric Cooperative?

Socorro Electric Cooperative's CEO is Joseph Herrera.

How much is the average bundled bill for Socorro Electric Cooperative customers each month?

Socorro Electric Cooperative currently has an average monthly bundled electric bill of $84.25, compared to the New Mexico average of $86.42 and the national of $86.42 for bundled service.

How many counties does Socorro Electric Cooperative offer service in?

There are 6 counties that receive at least some electricity coverage by Socorro Electric Cooperative including New Mexico.

What is the phone number for Socorro Electric Cooperative?

Socorro Electric Cooperative's customer service phone number is (575) 835-0560

What cities does Socorro Electric Cooperative supply electricity in?

Socorro Electric Cooperative serves 3 cities.

What is the average bundled electricity rate for Socorro Electric Cooperative customers?

Consumers of Socorro Electric Cooperative, on average, have an electricity bundled rate 15.56 cents per kilowatt hour (¢/kWh).

Last Reviewed By: Ginalyn Gelera
Published: 2022-08-01