President’s Message – August 2024

Electricity Provides Powerful Value

There are aspects of your life that become sort of a daily routine. You may stop at a coffee shop on the way to work or drive to the nearest fast-food location on your lunch break. You may end your day at home, streaming an episode or 2 of your favorite show before bed.

As we all look for ways to save money in this age of increasing inflation, you may think about your daily routine and how much value it provides compared to the money you spend. Let’s say a morning latte costs about $6, a fast-food combo with a burger, fries and a drink will set you back $10, and your Netflix subscription is about $16 monthly. All these daily expenses total around $85 a week, or about $340 monthly. Let’s say you start packing your lunch. Your morning latte will still cost you about $120 a month.

The average daily cost of electricity for Gulf Coast Electric Cooperative members is about $6.27. 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 roughly the same cost as that drink. To me, that’s real value.

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 remained relatively cost-stable even as inflation rises.

As a member-owned cooperative, Gulf Coast Electric Cooperative does everything in its power to ensure member costs stay reasonable and that electricity remains a great value. 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 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 also consider the impact of those costs on our members.

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 Gulf Coast Electric Cooperative always puts you top of mind and works daily to ensure electricity remains the best value for your money.