Most of us use electricity, either directly or indirectly, at almost all times. Because electricity is so abundant and available with the simple flip of a switch, it’s easy to take it for granted.
According to the Energy Information Agency (EIA), the typical U.S. household now uses more air conditioning, 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 bill. But keep in mind, it’s no longer just the “light bill.”
Electricity powers quality of life
Electricity powers our quality of life. From the infrastructure of your home (appliances, water heater, and HVAC system) to charging your smartphones, computers, TV, and Wi-Fi router, your energy bill covers so much more than lighting.
Today, there is more demand for electricity than ever before. At home, in schools and business, and in commercial sectors such as transportation, the need for electricity is increasing.
Typically when demand goes up, so too does the price, as is the case with most goods or services, like cable or even your favorite specialty coffee. However, that’s not true with electricity. Let’s take a look at how the value of electricity compares to other common expenses.
Over the last five years, the cost of rent increased 3.4%; medical care increased 2.8%; and education increased 2.2%. But the cost of electricity only increased 1%. Considering all the ways we depend on electricity, it still remains a great value.
So, the next time you’re 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 that electricity is more than a commodity––it’s a necessity. That’s why Hendricks Power will continue working hard to power your life, reliably and affordably.