Phenolic compounds are highly toxic, along with being one of the most persistent substances in petroleum refinery effluents. The most potent solution is through phenol bioremediation to produce demi-water and bioenergy, which are two effective outcomes for a single process. Fifteen genetically identified native bacterial strains were isolated from the effluents of the petrochemical industry plant (AMOC, Egypt) and were investigated for potential phenol biodegradation activity and energy bioproduction individually and as a consortium in a batch culture. Successful and safe phenol biodegradation was achieved (99.63%) using a native bacterial consortium after statistical optimization (multifactorial central composite design) with bioelectricity generation that reached 3.13 × 10−6 mW/cm3. In conclusion, the native consortium was highly potent in the bioremediation process of petroleum refinery wastewater, protecting the environment from potential phenol pollution with the ability to generate an electrical current through the bioremediation process.