What Waverly Utilities does

Waverly Utilities is a municipally owned, not-for-profit multi-service utility headquartered at 1002 Adams Parkway, Waverly, Iowa, operated by the City of Waverly since municipal acquisition of the original electric plant on December 1, 1904. Operating as Waverly Light and Power for over a century, the utility rebranded to Waverly Utilities in 2015 when it added telecommunications to its service portfolio. The company delivers electric distribution, fiber-to-the-premise broadband internet (with residential speeds up to 10 Gbps and no data caps), and digital telephone service to more than 4,600 residential, commercial, and industrial customers in Waverly and surrounding communities including Shell Rock, Denver, and Janesville.

Generation assets include hydro, diesel, and wind facilities, with a 3.6 MW solar generation facility under construction since June 2025 in partnership with Sandhills Energy, expected to produce up to 6.5 million kWh annually (~5% of total electricity) upon completion in early 2026. In October 2025 the utility announced discontinuation of its legacy cable TV business effective October 1, 2026, reflecting the economic obsolescence of that product line. The company holds a 1999 patent on BioTrans biodegradable soybean oil transformer technology developed with the University of Northern Iowa.

The business model is fully subscription-based across three recurring streams: electric utility service on inverted summer rate structures (2024 electric operating revenues of $19,596,406 per Eide Bailly LLP audit), monthly fiber internet at $9.95–$599.95 across residential and commercial tiers, and digital telephone at $17.95–$39.95 residential plus commercial Voice Cloud seats. Distribution is direct via a community office, phone support, online invoice portal (Invoice Cloud), ACH auto pay, and mail. As a municipal utility, Waverly Utilities benefits from an exclusive franchised service territory and is governed by a Board of Trustees that meets monthly; it transferred $749,196 to the City of Waverly in 2024 and carries an A1 Moody's bond rating assigned in 2005. The utility holds multiple American Public Power Association recognitions including RP3 Gold (2024), Diamond-tier Safety Awards of Excellence (2023, 2024), Certificate of Excellence in Reliability, and Tree Line USA (2024, 2025), and operates under clean annual audit opinions with no findings.

Name

Waverly Utilities

Legal name

Waverly Utilities, Inc.

Website

https://waverlyutilities.com

Company type

Private

Founded year

1904

Operating status

Operating

Headcount range

11–50 employees

Short description

Waverly Utilities is a municipally owned Iowa utility delivering electricity, fiber-to-the-premise broadband internet, and digital telephone service to over 4,600 residential, commercial, and industrial customers in and around Waverly, operating on renewable generation including a new 3.6 MW solar facility.

Ownership category

akta.pro rank

Product category

Municipal Electric Utility

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Municipal & Community Broadband ISPs (HDAIADAH)

akta.pro secondary industries

Fiber-to-the-Home (FTTH) Operators (HDAIACAB), Municipal & Community Broadband Networks (HDAIACAE)

Keywords

• Municipal electric utility
• Fiber-to-the-premise internet
• Digital telephone service
• Renewable energy generation
• Telecommunications utility services

Headquarters

HQ city

Waverly

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain, Others

Revenue model

1. Electric Utility Services: Electric generation and distribution to residential, commercial, industrial, and municipal customers. Revenue from electricity sales using inverted rate structure for residential (summer) and various rate classes for commercial customers. 2024 electric operating revenues were $19,596,406.
2. Telecommunications (Internet): High-speed fiber internet services ranging from 25 Mbps Essential service at $9.95/month to 10 Gbps at $139.95/month for residential; commercial tiers from 250 Mbps at $104.95/month to 10 Gbps at $599.95/month. No data caps on any service tier.
3. Digital Telephone Services: Digital phone services including local and long-distance calling plans. Residential plans at $17.95-$29.95/month; commercial plans from $24.95-$39.95/month plus Voice Cloud services.
4. Cable Television Services: Cable TV services being discontinued October 2026 due to rising content costs and competition from streaming services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Waverly Utilities is a municipally owned multi-service utility that generates and distributes electricity (residential inverted-block rates plus commercial and industrial tariffs) and, since 2016, delivers fiber-to-the-premises broadband internet and digital telephone over its community-owned all-fiber network. The utility serves more than 4,600 customers in Waverly, Iowa and surrounding communities and is discontinuing its cable TV offering in October 2026.

Product overview

Waverly Utilities is a municipally owned multi-service utility providing electric, internet, and telephone services to the Waverly, Iowa community. The utility operates as a unified platform delivering three core services: electric distribution to over 4,600 customers, fiber-to-the-premise broadband internet with speeds up to 10Gbps, and digital telephone services for residential and commercial markets. Additional offerings include energy efficiency rebate programs (appliance recycling, heat pumps, insulation, EV chargers), a solar generation facility under construction, and bill assistance through Project Share. The utility historically offered cable TV service but is discontinuing this in October 2026. Service packages range from individual residential offerings to bundled commercial packages combining internet and phone services.

Differentiator

Problem solved

Functional benefit

Products and services

• Electric Service Municipal electric generation and distribution service delivering electricity to more than 4,600 residential, commercial, and industrial customers in Waverly, Iowa and surrounding areas using an inverted residential rate structure (summer-peaking tiers) and demand-class commercial/industrial tariffs, backed by hydro, wind, diesel, and (from 2026) utility-scale solar generation.
• High-Speed Fiber Internet Fiber-to-the-Premise broadband service offering symmetrical speeds from 25 Mbps ($9.95/month Essential for K-12 students on free/reduced meals) up to 10 Gbps ($139.95/month residential) with no data caps, alongside commercial tiers from 250 Mbps to 10 Gbps.
• Digital Telephone Service Digital voice service with residential plans ($17.95-$29.95/month) and commercial plans ($24.95-$39.95/month) including local calling, long-distance minutes, anonymous call rejection, call screening, three-way calling, and call waiting.
• Cable TV Service Legacy cable television offering being discontinued October 2026; service is available across the Waverly Utilities service territory ahead of the wind-down date with direct-mail transition notices issued to affected customers.
• Voice Cloud Services Cloud-based business phone service for commercial customers with Standard ($29.95/month) and Premium ($39.95/month) seats, unlimited local calls, free long-distance minutes, and contact-center features including Easy Attendant and Enhanced Call Analytics.
• InPowering Solutions Commercial and industrial energy efficiency program delivering rebates and incentives for lighting (LED) upgrades and HVAC improvements in partnership with MEAN (Municipal Energy Agency of Nebraska), helping business customers reduce operating costs.
• Solar Generation Facility Utility-scale solar generation asset producing renewable electricity delivered into the Waverly Utilities grid through a build-own-maintain partnership with Sandhills Energy, doubling the utility's renewable energy portfolio and contributing roughly 5% of its electricity.

Quantifiable outcome

• Top 25% SAIDI ranking among public power utilities
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Sandhills EnergycoreStrategic or Co-development Partner · 6 September 2023Partnership to construct and maintain a 3.6-megawatt solar generation facility on approximately 24 utility-owned acres west of Waverly on Highway 3. Sandhills Energy owns and maintains equipment; Waverly Utilities retains land ownership. Facility will generate up to 6.5 million kWh annually (5% of electricity) with completion expected early 2026. WU made modest transformer investment in 2024 and pays competitive rate for solar-generated electricity.
• University of Northern IowacoreStrategic or Co-development PartnerLong-standing partnership for wind energy research and BioTrans soybean transformer oil technology. Formed Midwest Wind Energy Program as information clearinghouse and demonstration site for Midwest wind machines and wind energy. Co-developed patent for BioTrans biodegradable transformer oil (1999).
• Municipal Energy Agency of Nebraska (MEAN)coreOthersWholesale power supplier for Waverly Utilities. Former CEO Darrel Wenzel served as board member and secretary/treasurer. MEAN provides suite of energy efficiency programs including LED lighting and HVAC rebates for commercial and industrial customers.
• Trees ForeverminorStrategic or Co-development PartnerFive-year commitment (since 1992) supporting tree planting and preservation in Iowa communities. Waverly Utilities employees and local sixth graders participate in planting trees in city nursery. American Public Power Association awarded WL&P Golden Tree Award in 1994 for these efforts.
• American Public Power Association (APPA)minorOthersTrade association representing more than 2,000 not-for-profit community-owned electric utilities. Provides reliability benchmarking, safety awards (RP3 designation), and Energy Innovator Awards. Waverly Utilities participates in APPA DEED (Demonstration of Energy Efficient Developments) grant program.
• Northeast Iowa Community ActionminorOthersNonprofit agency that qualifies and distributes Project Share contributions to help pay utility bills for customers in need. Waverly Utilities collects tax-deductible donations through monthly utility bills.

Scale indicators9 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Longmont Power & Communications: Colorado municipal electric utility that has built out its own fiber broadband network. Comparable as a municipal utility combining electric distribution with retail fiber internet services in a similarly-sized community.
• Cedar Falls Utilities: Cedar Falls, Iowa municipal utility offering electric, gas, water, and fiber broadband services to a similarly-sized Iowa community. Highly comparable as a community-owned multi-service utility with FttP internet operating in a small Iowa market.
• EPB (Electric Power Board of Chattanooga): Tennessee municipal electric utility that became a national benchmark for community-owned gigabit fiber internet and smart-grid services. Directly comparable as a municipal electric utility operating a community FttP broadband network, though at much larger scale than Waverly.
• Metronet: Multi-state fiber-to-the-home overbuilder (now owned by T-Mobile) operating gigabit fiber networks in small and mid-sized Midwestern cities including Iowa markets. Comparable as a fiber ISP serving similar-sized Midwest communities with gigabit symmetrical services, though as a private operator rather than municipal utility.
• Muscatine Power and Water: Iowa municipal utility providing electric and water services to Muscatine and surrounding areas. Directly comparable as a fellow Iowa municipal electric utility of similar community scale, though without Waverly's telecom arm.

Broad incumbents

• Alliant Energy: Publicly-traded regulated electric and gas utility serving Iowa and Wisconsin. Comparable as a major Iowa electric utility competing for commercial and industrial customers and providing wholesale power market context, but lacks Waverly's municipal/community ownership and telecom arm.
• MidAmerican Energy Company: Berkshire Hathaway-owned, large-scale regulated electric and natural gas utility serving much of Iowa including areas adjacent to Waverly. Comparable as an Iowa electric utility serving overlapping regional customers, though it operates at significantly greater scale and does not offer retail broadband.
• Google Fiber: Alphabet-owned fiber ISP offering gigabit residential and business broadband. Comparable as a fiber broadband operator competing in the same product category as Waverly Utilities' telecom arm, though at vastly greater scale and limited to selected metropolitan markets.
• Mediacom Communications: Large U.S. cable broadband operator serving many Iowa communities including areas around Waverly. Comparable as the primary incumbent cable ISP competing directly with Waverly Utilities' FttP internet offering in the same regional footprint.

Regional players

• ImOn Communications: Iowa-based fiber and cable broadband provider serving Cedar Rapids, Iowa City, and other Eastern Iowa communities. Comparable as a regional Iowa fiber ISP competing in adjacent markets, though operating as a private company rather than municipal utility.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/#
• Facebookfacebook.com/WaverlyUtilities
• Instagraminstagram.com/waverly_utilities
• Xx.com/WavUtilities
• LinkedInlinkedin.com/company/waverly-light-and-power

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Waverly Utilities