It’s no surprise that things cost more since the pandemic. Our grocery bills are higher, fuel prices are higher and even going out to eat is more expensive. In 2012, it cost an average of $1.84 to buy a dozen eggs. Now it costs an average of $2.51. A 36 percent increase adds up each week.
Although your co-op has experienced significant increases in materials for more than a decade, your electric rates have remained stable since 2012. By being mindful of all controllable expenses and because of the continued growth we have seen in our area, we’ve been able to absorb rising costs. However, it is important that you see the costs of our most used construction materials and the significant increase the co-op is incurring to build and maintain the power lines that serve you. In 2023, 80 cents of each dollar we spent went towards the cost of power.
You might wonder what you can expect as prices continue to rise for both materials and power costs. Rest assured, we will continue to operate conservatively with each dollar that comes into your co-op. We’ll continue to look out for you and make sure we keep your power affordable, safe and reliable.
Your board in action
Last month, the board of trustees met with York Electric’s external auditor, who provided your co-op with a clean bill of financial health. Download a PDF of YEC’s audited financials.