Wake Electric supplies electricity to 6 counties in North Carolina. There are 48,093 customers of the company. Approximately 94.56% of them are residential customers, 5.43% of them are commercial customers and 0.01% are industrial properties. The residential electricity price for customers of Wake Electric is, on average, 12.24 cents per kilowatt hour, which is 7.08% more than the average North Carolina rate of 11.43 cents and 8.99% below the US average of 13.45. In 2020 they had sales to end customers totaling 793,517 megawatt hours. The electricity they sourced was made up of megawatt hours that they procured by way of wholesale channels. They purchased 831,801 megawatt hours on the wholesale market. Their total revenue for 2020 from electricity activities was $94,116,300, with $91,981,300 coming from retail sales to end users.
About Wake Electric
Customers of the company pay an average monthly residential power bill of $140.1. This is 16.52% above the national average bill of $120.24. Electricity production is not part of the Wake Electric business model, as they purchase power at wholesale rates from other companies and then resell to their consumers.
Offering net metering to customers is a win-win situation for Wake Electric and people who get their electricity from the company. This is a positive for any consumer potentially installing private solar panels, as net metering allows them to sell their excess wattage back into the grid.
Wake Electric loses electricity at a rate of 4.51% of their production due to heat dissipation and other causes. This percentage of electricity lost results in them receiving a rank of 23rd best out of 105 providers reporting energy loss in North Carolina.
Wake Electric Rate & Electric Bills
Wake Electric residential electric rates are highest in January and the highest average bill is in September.
Historical Electric Rates:
Wake Electric Overview
- Company Type:Cooperative
- Headquarters:100 South Franklin Street
Wake Forest, North Carolina 27587
United States of America
- CEO:Stephen Hamlin
Wake Electric Contact
Wake Electric Service
- States Served:
- North Carolina
- Counties Served:
- Wake County
- Durham County
- Johnston County
- Franklin County
- Granville County
- Major Cities Served:See all cities
- Table Of Contents:
Wake Electric's energy loss due to business operations.
Total Energy Loss
784 National Rank
Wake Electric Coverage Map
Wake Electric State Coverage
|State||Customers||Sales ($)||State Rank Based On Revenue||% of Provider's Residential Sales in State|
Wake Electric County Coverage
Cities Wake Electric Has Coverage
- Creedmoor, NC
- Franklinton, NC
- Kittrell, NC
- Knightdale, NC
- Louisburg, NC
- Oxford, NC
- Rolesville, NC
- Wake Forest, NC
- Youngsville, NC
- Zebulon, NC
* City coverage generated based on government data. Always verify you can get service from the provider.
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Wake Electric FAQ:
What is the phone number for Wake Electric?
You can reach Wake Electric by phone via (800) 474-6300.
Who is the CEO of Wake Electric?
Stephen Hamlin is the current CEO of Wake Electric.
What is the average electricity rate for Wake Electric customers?
Wake Electrics current average electricity rate is 12.24 cents per kilowatt hour (¢/kWh), compared to the average state rate of 11.43 cents and the average US rate of 13.45 cents.
How much is the average bill for Wake Electric customers each month?
Customers of Wake Electric pay, on average, a monthly bill of $140.10.
How many counties does Wake Electric supply electricity to?
There are 6 counties that receive at least some electricity coverage by Wake Electric including, North Carolina.
What cities does Wake Electric sell electricity to?
Wake Electric has customers in 10 cities in the United States including, North Carolina.