Message From CEO Steve Marlow
In today’s world, you won’t find many items that cost less than $5. You can purchase a gallon of milk, a gallon of gas, or a Big Mac® meal from McDonald’s. But did you know that an average day’s worth of electricity costs less than $5?
Even in our country’s shifting energy climate, electricity remains a good value. In fact, electricity has the lowest cost per day of any of the items listed above. And not all of those items are necessary for daily life!
As CEO of East-Central Iowa Rural Electric Cooperative, I urge you to think about your daily necessities (electricity and gasoline, to name a couple), and then think about the cost of the treats we allow ourselves to purchase on a weekly basis. We don’t often question the cost of a Big Mac meal, but it costs over $1 more than a day’s worth of power. And yet, we frequently become upset if our electricity rates rise.
It makes sense—we have become increasingly reliant upon electricity. Electricity has, for many of us, gone from a luxury commodity to a necessity and an expectation. We expect the lights to come on when we flip the switch, and we expect our power to stay on during the best and worst conditions. How else would we keep our food fresh or our homes cool in the summer and warm in the winter? It is easy to cut a Big Mac out of your spending routine here and there to save a few dollars. But we cannot simply cut electricity out of our budgets if times get tough or we decide that we want to scale back our spending in order to save.
Perhaps that is why it is so upsetting to us when our rates increase, even if only in small increments. It is nearly impossible for us to think about what our lives would be like if we did not have electricity. If at times it doesn’t seem that electricity is affordable, remember—even as the demand for electricity grows—annual cost increases still remain low, especially when compared to other consumer goods such as medical care, education, and gasoline. Electricity is still a great bargain.
And also remember this: as the CEO of ECI REC, I am committed to making sure that you and your family always have safe, reliable, and affordable electric service in your home.
So the next time you crave a Big Mac, remember your electric bill, and think about what a great deal you’re getting for your dollar!
Source: Statista.com, 2014. Big Mac® is a registered trademark of McDonald’s Corporation. McDonald’s Corporation does not endorse or sponsor this material.