Electricity Rates in Hancock, MN
Residents of Hancock, MN benefit from relatively low electricity rates, averaging 14.0¢/kWh — 21.3% below the national average. The city is served by 4 electricity providers, with Agralite Electric Coop being the largest.
Electricity Providers in Hancock
| Utility | Residential Rate | Commercial Rate | Type |
|---|---|---|---|
| Agralite Electric Coop | 14.0¢/kWh | 9.0¢/kWh | Cooperative |
| Northern States Power Co - Minnesota | 17.0¢/kWh | 13.0¢/kWh | Investor Owned |
| Otter Tail Power Co | 11.0¢/kWh | 9.0¢/kWh | Investor Owned |
| Runestone Electric Assn | 14.0¢/kWh | 13.0¢/kWh | Cooperative |
Estimated Monthly Electric Bill
Based on the average residential rate of 14.0¢/kWh and typical US household usage of 886 kWh/month:
Solar Savings in Hancock
At 14.0¢/kWh, a typical Hancock household spends approximately $1488.48/year on electricity. Solar panels could reduce this by 50–90%.
The federal solar tax credit covers 30% of installation costs through 2032.
EV Charging Costs in Hancock
Charging an electric vehicle at home in Hancock costs approximately $126.00/month at current rates, based on average driving habits (about 30 kWh per charge, charged daily). Compare to public charging prices at ChargeBuddy.ai.
Nearby Cities in Minnesota
Frequently Asked Questions
What is the average electricity rate in Hancock, MN?
The average residential electricity rate in Hancock, MN is 14.0¢ per kilowatt-hour (kWh) based on 2024 data. This translates to an estimated monthly bill of $124.04 for a typical household.
Who provides electricity in Hancock?
Hancock is served by 4 electricity providers. Agralite Electric Coop is the largest provider in the area, though rates and availability vary by specific address.
How do Hancock electricity rates compare to the rest of Minnesota?
Hancock's average rate of 14.0¢/kWh is 6.7% below the Minnesota state average of 15.0¢/kWh. Residents enjoy some of the lower rates in the state.