After a decade of low and stable interest rates and predictable costs for goods and services, the cost and availability of material and equipment experienced increases starting in 2021, escalated dramatically in 2022, and has continued to increase in 2023.
As a cooperative owned by you, we are doing everything we can to mitigate the impact of those costs on your bills — just like you are doing at home or work to stabilize or reduce your spending.
We’re working to remain cost-competitive compared with Ohio’s other electric suppliers — some of whom are facing sharp increases in costs due to skyrocketing wholesale energy prices. Our biggest expense increases are for fuel, labor, insurance, and equipment. We still must purchase the same power poles, transformers, and other materials and equipment as every other electric utility and, unfortunately, those costs are harder to control.
What we are doing to keep costs low
Our ownership share in Buckeye Power, which generates most of its electricity right here in Ohio, helps us keep costs comparatively low. As a not-for-profit electric cooperative, we charge you only what it takes for Buckeye Power (also a cooperative) to generate and transmit electricity to our distribution system and the expenses related to delivering it to your home or business.
We are committed to operating as efficiently as we can. We’ve taken advantage of new technology, upgrading our electric meters to help with outage restoration and provide our members and engineers with usage data that can help control costs. New enterprise software helps us serve you better, and other technology — such as automated equipment in the field and the computer systems behind it — help us restore outages faster, delivery quality power, and keep bill increases in check.
What can you do to lower your bill?
Not many companies today actively help you use less of their product, but South Central Power operates in your best interests, and that means doing what we can to save you energy and money.
While the easiest way to lower your bill is to simply reduce your electricity use, you can visit the Energy Toolkit on our website and follow us on social media channels to find specific tips and tricks for saving electricity.
You also can check your usage on a daily basis on the South Central app, which you can download from your app store. It can help you identify when you are using the most electricity — which may help you reduce your overall usage.
Looking for ways to lower your bill?
Monitor your usage on the app or visit the Energy Toolkit.
From the November 2023 issue of Ohio Cooperative Living.