Most of us use electricity, either directly or indirectly, at almost all times. Because electricity is so abundant and available with the simple flip of a switch or connecting to an electrical outlet, it’s easy to take it for granted. We expect the lights to turn on, the coffeemaker to work, the shower to be hot, and our devices to be charged each morning.

According to the Energy Information Agency (EIA), the typical U.S. household uses more air conditioning, appliances, and consumer electronics than ever before. The average home also contains 10 or more internet-connected devices. Considering everything that is powered by electricity, it’s no wonder we occasionally might look twice at our monthly bill. But keep in mind, it’s no longer just the “light bill.” It’s important to remind ourselves that, although no one likes receiving an electric bill, or prepaying for electricity (if you choose that option), given how it powers our lifestyle, it’s a great value.

Electricity powers quality of life

Electricity powers our quality of life. From the infrastructure of your home (appliances, water heater, and HVAC system) to charging your smartphones, computers, TV, and Wi-Fi router, your energy bill covers so much more than lighting.

Today, there is more demand for electricity than ever before. The need for electricity is increasing at home, in schools, businesses, and in commercial sectors such as transportation.

Typically when demand increases, so does the price, as is the case with most goods or services, like cable or even your favorite specialty coffee. However, that’s not true with electricity. Pee Dee Electric’s rate adjustment was five years ago. Just in the past year, the cost of rent increased 6.3%; the cost of medical care increased 5.1%; food increased 10.9%, and gasoline has seen the most significant increase at 44%.

The cost of service study announced in April reviews our current rates to ensure that the utility rates provide enough revenue for the co-op to cover its expenses and meet our lenders’ margin requirements. Pee Dee Electric continues to experience higher costs associated with fuel, materials used to build power lines, labor, general supplies, and other costs. We are experiencing many of the same challenges members face in their household budgets. These significant increases are impacting our cost to serve members and will have an impact on the rate revision necessary to maintain the cooperative’s financial stability. As a not-for-profit cooperative, we continue to work diligently to control costs through operational efficiencies and numerous cost-cutting measures.

As a Pee Dee Electric member, we care about you, the members we serve, and understand that electricity is more than a commodity—it’s a necessity. That’s why Pee Dee Electric will continue working hard to power your life by providing affordable and reliable electricity.