Manager Connection: Benefits of Electricity
Electricity provides benefits 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 inflationary times.
As a member-owned cooperative, Steele-Waseca Cooperative 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.
In the last 12 years, Steele-Waseca has had very small adjustments to our member’s bills; we are fortunate to be in a very stable position with the cost of power and the cost of service.
Great River Energy (GRE), our power supplier, has had very little increases in this time period and what we correspondingly pass along to our members has been very small.
Our cost of service has also remained proportional to our increases in sales and, again, we have not had to pass on a full system increase in those 12 years.
The cost of electricity can fluctuate due to supply and demand, infrastructure investment, maintenance and operational expenses. Our costs of power can change by the hour based on market conditions on the grid. The components that change can be transmission-related costs, capacity, and energy, based on supply and demand, and based on scheduling that vary each hour.
Through our cost of service studies we attempt to forecast and plan so we can charge a constant rate as much as possible to prevent our member’s bills from having an extreme fluctuation from month to month or even from day to day.
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 rates are adjusted, and because we’re a cooperative, we consider the impact of those costs on our members as well.
As the communities within our service area continue to rely on electricity for nearly everything in our homes, schools, farms, and businesses, we need it to be reliable and affordable. You can be assured, Steele-Waseca always puts you top of mind and works each day to ensure electricity remains the best value for your money.
Trust
#swce/TRUST
