We are all no strangers to rising costs. From the rise in grocery store prices and other everyday items to supply chain disruptions, we’ve all worked to manage our households, businesses and bank accounts to the best of our ability.
Your Board of Trustees and the leadership at your co-op have been doing the same thing. We shared last month that through monthly tracking and accountability, we’ve been able to save members approximately $14 million in comparison to the median reported controllable expenses of co-ops throughout the Palmetto State. We’re the lowest and we intend to keep it that way.
Just like you manage your finances at home, you can also manage your energy use, helping your co-op hold down power costs. Simply being mindful of when you are using the most energy—such as three-prong appliances, your heating and cooling system and water heater—can help offset peak demand.
Your co-op gets a power bill just like you. A large portion of our bill is based on demand, or the moment in time each month when the most people are using the most energy. In the summer, that is from 3–6 p.m. and in the winter it is from 6–9 a.m. If we can reduce the amount of energy used at those times, we all save money.
Programs like Beat the Peak and our Smart Thermostat program are easy ways you can get involved and help your co-op move the needle on power costs. We’re doing all we can to cut costs, and we hope you will join us in this effort by using energy wisely.
We now know we will have to increase our rates for the first time in over a decade in 2025. As we finalize the number and impact to our members, we appreciate your continued help with managing your energy use, easing the burden for us all.
During this year’s co-op month, let’s remember how working together can make the biggest difference. Please know our board of trustees and co-op management have been dedicated to creating the least impact to our members as possible. We will have a final decision on what this increase will look like for members next month and will be sharing the changes you can expect in the November/December issue of the magazine.
We’re always looking out for you, and we hope you join us in also looking out for each other.
President and Chief Executive Officer