West Florida Electric

What West Florida Electric does

West Florida Electric Cooperative, Inc. (WFEC) is a member-owned, not-for-profit electric distribution cooperative headquartered in Graceville, Florida, and founded on December 10, 1937 by 712 rural residents who financed the original 262-mile power line build with a $194,000 REA loan. Day-to-day operations commenced in 1939, and the cooperative has since grown to serve over 29,000 meters across four northwest Florida counties (Calhoun, Holmes, Jackson, and Washington) through more than 5,100 miles of overhead power lines and 13 substations. Core operations center on electricity distribution purchased wholesale from PowerSouth Energy Cooperative, with rates set at approximately $0.11637/kWh and a $35/month residential facilities charge.

WFEC's product surface extends well beyond commodity kWh delivery. The cooperative offers meter-base surge protection (leased at $4.25/month or purchased at $124.95), GenerLink transfer switches for safe portable generator interconnection, prepaid metering under the EZ Pay Power program, outdoor LED lighting, free energy audits, and tiered heat pump rebate programs ($300-$400/ton) targeted at manufactured home and ducted HVAC conversions. Member-facing technology includes iOS and Android mobile applications, an online member portal at olb.wfeca.net, and an SMS outage reporting system (texting OUT to 800-342-7400). Governance is exercised by a nine-member Board of Trustees elected from geographic districts, and the cooperative participates in the Touchstone Energy Corporation national alliance.

Revenue is generated primarily through usage-based electricity sales, supplemented by recurring subscriptions (surge protection, outdoor lighting), one-time setup and transfer fees, deposits, and a $5 lifetime membership fee. Excess revenues are allocated annually to members as capital credits and retired approximately 25 years later, functioning as a deferred patronage refund rather than equity return. The cooperative employs 11-50 staff across three district offices (Bonifay, Graceville, Sneads) and is currently undergoing a generational leadership transition following the appointment of Nathan Berry as Executive Vice President & CEO, with concurrent retirements totaling over 109 years of institutional tenure.

Name

West Florida Electric

Legal name

West Florida Electric Cooperative, Inc.

Website

https://westflorida.coop

Company type

Private

Founded year

1937

Operating status

Operating

Headcount range

11–50 employees

Short description

West Florida Electric Cooperative is a member-owned, not-for-profit rural electric distribution utility founded in 1937, serving over 29,000 residential and commercial meters across four counties in the Florida Panhandle via more than 5,100 miles of distribution lines and 13 substations.

Ownership category

akta.pro rank

Headquarters

HQ city

Bonifay

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Infrastructure, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Sales: Primary revenue from electricity distribution. Residential and commercial members pay based on kilowatt-hour consumption at published rates. Revenue is not-for-profit with excess revenues returned as capital credits.
2. Service Fees and Membership: One-time membership fee of $5, service fees including $50 non-refundable service charge, $300 residential deposit, transfer fees, and installation fees for services like GenerLink and surge protection.
3. Surge Protection Leasing: $4.25/month lease for meter-base surge protection with $50 installation fee. Cooperative handles paperwork for damage claims.
4. EZ Pay Power (Prepaid): Prepaid metering program with $105 setup fee plus first power purchase. Allows members to monitor usage and avoid deposits.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

West Florida Electric Cooperative distributes electricity to residential and commercial member-owners across Calhoun, Holmes, Jackson, and Washington Counties in the Florida Panhandle through more than 5,100 miles of overhead power lines and 13 substations. Beyond core kWh delivery, the cooperative sells and leases member add-on services such as meter-base surge protection, GenerLink transfer switches, outdoor/yard lighting, prepaid metering (EZ Pay Power), and member benefit programs including free energy audits and heat pump rebates.

Product overview

West Florida Electric Cooperative is a member-owned, not-for-profit electric utility providing electricity distribution services across four counties in the Florida Panhandle. The company's core offering is electric distribution service, supplemented by add-on products including surge protection, GenerLink transfer switches, outdoor lighting, prepaid metering (EZ Pay Power), energy audits, heat pump rebates, and manufactured home programs. Member services include mobile apps, an online portal, outage reporting systems, Youth Tour and scholarship programs, Capital Credits refunds, and bill payment assistance. The cooperative operates district offices in Bonifay, Graceville, and Sneads serving over 29,000 meters.

Differentiator

Problem solved

Functional benefit

Products and services

• Electric Distribution Service

Quantifiable outcome

• Capital credits typically retired after approximately 25 years
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• PowerSouth Energy CooperativecoreStrategic or Co-development PartnerPowerSouth Energy Cooperative is WFEC's wholesale power supplier, providing electricity generated from natural gas, hydropower, solar, and nuclear sources. WFEC is a member-owner of PowerSouth. Wayne Williams and Randy Bush serve as WFEC's representatives on the PowerSouth Board of Trustees.
• National Rural Electric Cooperative Association (NRECA)coreStrategic or Co-development PartnerNRECA sponsors the Youth Tour program that sends high school juniors to Washington D.C. each year. WFEC has participated in Youth Tour since 1979.
• Florida Electric Cooperative Association (FECA)coreStrategic or Co-development PartnerFECA partners with NRECA and local co-ops like WFEC to sponsor the annual Youth Tour program for high school students.
• Touchstone Energy CorporationminorStrategic or Co-development PartnerWFEC is a member of Touchstone Energy Cooperative, a national alliance of locally owned electric cooperatives promoting the cooperative business model.
• Survey and Ballot Systems (SBS)minorImplementation/ SI/ Consulting PartnerThird-party election vendor that handles WFEC's Board of Trustees election ballot distribution, collection, and tabulation ensuring election integrity and confidentiality.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Regional players

• Seminole Electric Cooperative: Florida generation-and-transmission cooperative supplying wholesale power to distribution co-ops across Florida. Comparable as a Touchstone Energy cooperative peer in WFEC's broader Florida ecosystem, though operating at the G&T level rather than distribution.

Direct peers

• Pedernales Electric Cooperative: Large Texas-based member-owned distribution cooperative serving a sprawling rural service territory. Highly comparable member-owned structure, capital credit retirement program, and rural distribution operating model, though at much larger scale than WFEC.
• Withlacoochee River Electric Cooperative: Florida Touchstone Energy distribution cooperative serving rural portions of central Florida. Comparable as a member-owned co-op with overlapping Florida service territory and similar kWh-based revenue model.
• PowerSouth Energy Cooperative: Wholesale power supplier and member-owned generation cooperative that serves 20 distribution co-ops including WFEC across Alabama and northwest Florida. Directly comparable as a Touchstone-affiliated rural electric cooperative with a similar member-owned structure and overlapping service geography.
• Central Florida Electric Cooperative: Florida rural electric distribution cooperative serving the surrounding counties. Directly comparable member-owned co-op model serving rural residential and commercial members with similar service offerings.
• Suwannee Valley Electric Cooperative: Florida member-owned distribution cooperative serving members across multiple north-central Florida counties. Directly comparable as a Florida rural electric distribution co-op with similar scale, member services, and Touchstone Energy branding.
• Middle Tennessee Electric Membership Corporation: Member-owned distribution cooperative serving multiple counties in middle Tennessee. Directly comparable member-owned, not-for-profit distribution model with similar capital credit and governance structure, though operating in a different region.
• Clay Electric Cooperative: One of the largest distribution cooperatives in Florida, serving portions of north and central Florida. Closely comparable operating model, geographic overlap, and member-owned structure to WFEC, though at significantly larger scale.

Broad incumbents

• Florida Power & Light (FPL): Investor-owned utility that, through its acquisition of Gulf Power, now serves portions of the Florida Panhandle. Operates in the same geography as WFEC and represents the dominant IOU incumbent against which WFEC's cooperative model competes for member mindshare and policy.

Others

• Touchstone Energy Corporation: National alliance and brand cooperative of which WFEC is a member. Not a direct competitor but a strategic enabler — Touchstone provides branding, cooperative advocacy, and shared services for WFEC and 750+ member co-ops nationally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/westfloridacoop
• Facebookfacebook.com/wfeca
• LinkedInlinkedin.com/company/west-florida-electric-cooperative

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about West Florida Electric