Spruce Finance
Behind the Meter electric utility · California · #320 of 3,199 U.S. utilities by customers · EIA utility #59943
Spruce Finance is a behind the meter electric utility serving 58,914 customers in Arizona, California, Colorado, Connecticut, Hawaii, Louisiana. In 2025 it sold 487 gigawatt-hours of electricity for $77.57M in revenue, an average realized rate of 15.94¢ per kWh across all customer classes and 15.94¢ per kWh for residential customers. EIA records its activities as: generation.
Customers, sales and rates by customer class (2025)
| Class | Customers | Sales (GWh) | Revenue | Avg realized rate | Share of sales |
|---|---|---|---|---|---|
| Residential | 58,914 | 487 | $77.57M | 15.94¢ | |
| Total | 58,914 | 487 | $77.57M | 15.94¢ |
Average realized rate = revenue divided by sales as reported on EIA Form 861. It blends fixed charges, demand charges and riders into one per-kWh figure; it is not the utility's tariff rate. Estimated residential bill assumes the average residential customer's actual 2025 usage (688 kWh/month).
Operations by state
| State | Customers | Sales (GWh) | Residential rate |
|---|---|---|---|
| California | 25,201 | 198 | 19.27¢ |
| New Jersey | 14,507 | 141 | 12.25¢ |
| New York | 8,032 | 52.0 | 19.08¢ |
| Arizona | 3,606 | 39.9 | 10.94¢ |
| Massachusetts | 3,391 | 22.3 | 15.30¢ |
| Connecticut | 1,841 | 13.6 | 16.96¢ |
| Colorado | 1,043 | 8.6 | 9.28¢ |
| Maryland | 577 | 4.7 | 12.59¢ |
| Hawaii | 481 | 4.9 | 12.01¢ |
| Nevada | 147 | 1.5 | 13.21¢ |
| Louisiana | 88 | 0.5 | 7.70¢ |
Five-year trend
| Year | Customers | Sales (GWh) | Revenue | Residential rate |
|---|---|---|---|---|
| 2021 | 33,967 | 285 | $50.38M | 17.65¢ |
| 2022 | 33,054 | 283 | $51.68M | 18.28¢ |
| 2023 | 51,280 | 441 | $72.44M | 16.44¢ |
| 2024 | 50,856 | 404 | $69.07M | 17.08¢ |
| 2025 | 58,914 | 487 | $77.57M | 15.94¢ |
Energy supply (2025)
Net generation: 487 GWh
Wholesale power purchased: — GWh
Winter peak demand: 66 MW
Other large utilities in California
- Southern California Edison Co - 3,735,576 customers, residential 31.48¢
- Pacific Gas & Electric Co. - 2,008,682 customers, residential 37.52¢
- Los Angeles Department of Water & Power - 1,516,453 customers, residential 26.48¢
- San Diego Community Power - 939,547 customers, residential 15.76¢
- Clean Power Alliance of Southern Califor - 819,661 customers, residential 13.95¢
- Sunrun Inc. - 796,359 customers, residential 26.53¢
- Ava Community Energy - 724,515 customers, residential 14.48¢
- Sacramento Municipal Util Dist - 675,491 customers, residential 18.93¢
All California utilities and rates
Source: U.S. Energy Information Administration, Form EIA-861 2025 (filed by the utility; figures as published). Utility #59943 in the EIA frame.