Some aspects of our lives have become a daily routine. But how often do we think about the value we get from the products and services we pay for?
A morning latte can easily cost close to $6, a fast-food combo with a burger, fries, and a drink can set us back $10, and a streaming service subscription is around $16 monthly. All these daily expenses add up to about $340 monthly.
The average daily cost of electricity is about $4.57. You could power your entire home every day for the price of a medium latte. You could brew your own coffee, cook your own meals, binge a series, and run on a treadmill for less than the cost of that drink.
Electricity provides benefits that we often take for granted. It goes well beyond short-term satisfaction by allowing us to charge devices, have cold food and hot water, and enjoy a comfortable indoor climate. Besides the privilege it affords, electricity has remained relatively cost-stable despite rising inflation.
As a member-owned cooperative, Boone REMC is committed to ensuring your costs stay reasonable and that electricity remains a great value for our members. It’s not always easy, as several factors beyond inflation 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 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 emissions regulations, shape electricity costs, too. Your electric co-op considers all these aspects when adjusting rates, and because we’re a cooperative, we also consider the impact of those costs on our members.
As we continue 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 that Boone REMC always puts you top of mind and works each day to ensure electricity remains the best value for your money.
