Electricity Provides Powerful Value
There are aspects of your life that become sort of a daily routine. You get ready for work, get in your car and drive to the coffee shop on the way to the office. At lunchtime, you drive to the nearest fast-food location and get lunch. Once you finally end the day at home, you stream an episode or two of your 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 latte was costing me about $6, a fast-food combo with a burger, fries and a drink was setting me back $10, and my Netflix subscription is about $16 each month. All these daily expenses totaled around $85 a week, or about $340 monthly. And what was the real value - short-term satisfaction and a larger waistline? Even as I started packing my own lunch, my latte was still costing me about $120 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 members of Steuben Rural Electric Cooperative is $140.00. 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 remained relatively cost-stable even amidst rising inflation.
As a member-owned cooperative, Steuben Rural Electric Cooperative does everything in our power to ensure your costs stay reasonable and that electricity remains a good 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 cooperative 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, Steuben Rural Electric Cooperative always puts you top of mind and works each day to ensure electricity remains the best value for your money.