As we all look for ways to save money in this age of increasing inflation, I think about a typical daily routine and how much value it provides, compared to the money it costs.
If you grab a latte on the way to work, that’s $6 every morning, a fast-food combo with a burger, fries and a drink for lunch will set you back $10 a day, and a typical streaming subscription is about $16 each month. All these daily expenses total around $85 a week, or about $340 monthly! And what is the real value — short-term satisfaction and a larger waistline? This got me thinking — what service holds the best value compared to its price?
The average daily cost of electricity is about $4.57, and the average monthly electric bill for members of Orange County REMC is $145. Did you know, you could power your entire home each 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. 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, Orange County REMC 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, Orange County REMC always puts you top of mind and works each day to ensure electricity remains the best value for your money.
