Some of our members (don’t worry – we won’t point anyone out) remember the days when penny candy actually cost a penny. Today, a penny won’t buy a piece of candy or most anything else. In fact, according to the United States Mint, the current cost to produce and distribute a penny is nearly four cents.
In the current time and economy, what will a penny purchase? With the lasting value of electricity, one cent will purchase the following:
· More than 15 full charges for an iPhone
· More than 10 hours of light from an efficient lightbulb
· About two hours of television, depending on size and technology
· Half an hour of work on an average desktop computer
Electricity is just about the only thing of value that can still be purchased for a penny. The cost per kilowatt-hour (kWh) of electricity has risen slower than any other household commodity for decades, making the value of electricity about as good as it gets.
One kWh is equal to using 1,000 watts of electricity for 60 minutes. At Claiborne Electric, each kWh costs members about 12.5 cents, which is significantly lower than the state average (nearly 14 cents) and national average (nearly 18 cents). Members are only paying a few cents more for a kWh of electricity than 20 years ago. In comparison, think about the cost of eggs, bread, coffee, medicine, gasoline, or a vehicle 20 years ago compared to today. Where other goods and necessities have doubled, tripled, or even more in price, electricity has held its value and remained similar in price for many years.
Currently, Claiborne Electric’s members pay some of the lowest electric rates in the state. In the most recent rate comparison released by the Louisiana Public Service Commission, members using an average of 1,000 kWh per month were billed $127.80. In comparison, the same bill would be $143.33 for an Entergy customer, $150.97 for a SWEPCO customer, and $158.83 for a CLECO customer.
It is fortunate that electricity continues to hold such an excellent value, because the American appetite for electricity continues to grow. With electricity required for heating, cooling, lighting, cleaning, cooking, refrigeration, working, entertainment, transportation, and communication, there is barely a part of life that does not require electrification.
Electricity per kWh is not expensive, but homes and businesses require more and more kWh to run on a daily basis, even despite advancements in technology and energy efficiency. With the growing demand of electric power, the U.S. Energy Information Administration estimates Americans will use more than four billion kWh this year.
Clearly, energy consumption shows no signs of slowing down. We encourage members to remember the value electricity holds with each flip of a switch, press of a button, and charge of a phone. At Claiborne Electric, we are always looking out for members by working together to keep electric bills affordable and service reliable. For more information on lowering electric consumption and using energy more wisely, please contact a local Claiborne Electric office.