Wakefield Electric

About Wakefield Electric

Wakefield Electric is a municipally owned organization serving 3 cities throughout Michigan including Ironwood, Bessemer, Wakefield, Watersmeet CDP, and Marenisco CDP. The company recently reported a total of 1,051 total customers, 951 of which are residential properties, 98 are commercial customers and 2 of which are industrial properties. The residential electricity rate for patrons of Wakefield Electric is, on average, 10.72 cents per kilowatt hour. This is 19.18% below the national average price of 13.26 cents, which ranks the company 851st lowest for average electricity rate out of 2922 providers in the US. They had sales of 12,440 megawatt hours in 2019 sold to end users. The electricity sourced by the company is made up of primarily wholesale purchased megawatt hours, with 13,717 purchased by the company. The total revenue for Wakefield Electric in 2019 was $1,302,000, which was earned entirely through electricity sales to retail customers.

The national average monthly residential power bill is $117.93, while the Wakefield Electric average is 44.63% less at $65.3 per month. This is the 172nd lowest average monthly bill amount for a provider in the country. Electricity generation is not part of the Wakefield Electric business model, as they purchase electricity at wholesale rates to then be resold to their customers.