CEO’s Message – January 2023
We Power Your Life
Most of us use electricity—either directly or indirectly—around the clock. Because it is so abundant and available with the simple flip of a switch, it is easy to take for granted.
According to the Energy Information Administration, the typical U.S. household uses more air conditioning, heating, 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 wince at our monthly bills. But keep in mind, it is no longer just “the light bill.” Electricity powers our quality of life. Your energy bill covers so much more than lighting. It powers the infrastructure of your home and virtually everything in it: appliances, water heater, HVAC system, smartphones, computers, TV, the Wi-Fi router and so much more.
Today, there is more demand for electricity than ever. At home, in schools and businesses, and in commercial sectors such as transportation, the need for electricity is growing.
Our electricity use tends to increase in winter months when cold temperatures and early sunsets push us indoors. After spending a lifetime in our community, it shouldn’t surprise me that we make such an abrupt shift from T-shirts to parkas. That was especially true this year after an unusually long fall abruptly turned to a harsh winter.
Typically, when demand goes up, so does cost. That is the case with most goods or services, such as vehicles or even your favorite specialty coffee. According to the Bureau of Labor Statistics, during the past 12 months, the cost of housing increased 7.1%, medical care increased 4.4%, gasoline increased 10.1% and food increased 10.6%. Nationally, the cost of electricity increased 13.1%.
Fortunately, Wells Rural Electric Company has long-term contracts in place that help shield members from spikes in the electricity markets. In fact, WREC hasn’t had a rate increase in 6 years.
Considering all the ways we depend on electricity, it remains a great value.
The next time you are enjoying your favorite podcast, TV series or movie, consider the value of electricity and how it enhances your quality of life.
We care about you, the members we serve, and understand electricity is more than a commodity. It is a necessity. That’s why Wells Rural Electric Company will continue working hard to power your life with clean electricity—safely, reliably and affordably.
Clay R. Fitch
Chief Executive Office