These days, prices for nearly everything seem to be on a never-ending climb. Whether you’re at the grocery store, the gas pump or enjoying an evening out, the cost of living continues to rise. If you’ve followed my column for long, you’ve probably seen costs mentioned many times, because inflation has hit electric utilities as much and even more than many other parts of the economy. Yet, despite these economic challenges, one essential service remains a remarkable value: electricity.

At CHELCO, we are proud to provide reliable and affordable electricity to our members. When you compare electricity to other daily expenses, the value becomes even clearer. For instance, for the cost of a single cup of coffee - especially those bought at a fancy coffee shop - you can likely power your home for an entire day. Think about that... while a specialty coffee may run you $4 to $5, that same amount covers a full day or more of lighting, heating, cooling, cooking and entertainment.

Unlike many other essentials, co-ops have worked hard to ensure electricity remains a stable and affordable necessity for our members. From 2013 through 2023, CHELCO did not increase distribution rates a single time. In fact, we had two distribution rate decreases during that period, thanks to our aggressive focus on controlling costs. At a time when many industries faced steep price hikes, we worked diligently to maintain financial stability and keep electricity affordable for our members.

If you read my column last month, you will recall that we recently conducted a rate study to ensure our rates are fair for all members. Given the increasing costs of things outside of our control, we will likely be facing a moderate rate increase soon. However, due to our team’s efforts, the cost of electricity will remain a tremendous value in comparison with life’s other necessities. Stay tuned for more info in next month’s newsletter.

Even with a modest rate increase in 2024, CHELCO continues to be a leader among our peers in controlling costs and keeping rates affordable. In fact, I’m thrilled to share that CHELCO ranks in the Top 3% of all co-ops nationwide in controllable costs and ranks third of the 42 co-ops of similar size. These costs include things within our control, such as wages, electric equipment maintenance and administrative costs.

While we have focused on controlling costs, these efforts are not at the expense of reliability. We understand that electricity is not a luxury; it’s a necessity. That’s why we continuously invest in infrastructure, technology and efficiency improvements to ensure you receive the most reliable service at the most affordable price. Coupled with an aggressive right-of-way trimming program, these efforts have directly contributed to some of the best reliability numbers in the country, and among the best we’ve had in the past 20 years.

Although I have been with electric cooperatives for the better part of four decades, even I sometimes take electricity for granted. It’s not until the power goes out that I truly realize all the aspects of our lives that depend upon it. Charging devices, connecting to the internet and keeping food fresh are just a few of the many things in our lives that depend on electricity. And while the cost of nearly everything else has surged, electricity remains an excellent value.

At CHELCO, we are committed to keeping it that way. We will continue working hard to provide you with reliable, affordable power while embracing innovation to enhance service and efficiency. Thank you for trusting us to power your homes, businesses and communities.

The next time you’re enjoying a cup of specialty coffee, consider that for the same price, you are likely powering your life for an entire day. Not a bad deal, right?