Electricity Provides Powerful Value
Life is a series of daily routines; we all have one. A large majority of us get ready for work, drive to a local coffee shop or Quick Trip to pick up our morning caffeine. At lunchtime, maybe we pick-up whatever fast-food is convenient at the time, and once home turn on the television for our favorite show before bed.
As we all look for ways to save money in this age of increasing inflation, I began to think about my daily routine and how much value it provided me compared to the money I spent. A morning coffee was costing me about $4, a fast-food combo with a burger, fries and a drink was setting me back $12, and my Netflix subscription is about $16 each month. All these daily expenses totaled around $80 a week, or about $320 monthly. And what was the real value — short-term satisfaction and a larger waistline? Even as I started brewing my own coffee and packing some of my lunches, I was still spending about $140 a month. This got me thinking — is this the best value for my money?
The average daily cost of electricity is about $4.57, and the average monthly electric bill for residential members of Lane-Scott Electric is $130. You could power your entire home every day for the price of a medium latte. I could brew my own coffee, cook my own meals, binge a series and run on a treadmill for less than the cost of that drink. Now to me, that’s real value.
Electricity provides benefits that we often take for granted. It goes well beyond short-term satisfaction by allowing us to charge devices and have cold food and hot water, all in a comfortable indoor climate. Besides the privilege it affords, electricity has also remained relatively cost-stable even amidst rising inflation.
As a member-owned cooperative, Lane-Scott Electric does everything in our power to ensure your costs stay reasonable and that electricity remains a great value for our members. It’s not always easy, as there are several factors beyond inflation that impact the price of electricity — some within our control but most beyond it.
The cost of electricity can fluctuate due to supply and demand, infrastructure investment, maintenance and operational expenses. Weather patterns also contribute, affecting both demand and generation capabilities, with extreme conditions leading to heightened energy use or disruptions. Government policies, such as subsidies for renewable energy or taxes and regulations on emissions, shape electricity costs as well. Your electric co-op considers all these aspects when adjusting rates, and because we’re a cooperative, we consider the impact of those costs on our members as well.
As our community continues to rely on electricity for nearly everything in our homes, schools, hospitals and businesses, we need it to be reliable and affordable. You can be assured, Lane-Scott always puts you top of mind and works each day to ensure electricity remains the best value for your money.