The Cost of Energy Continues to Rise!

The cost of energy seems to be increasing every day. TVA raised electricity prices on April 1, which most of which had to be passed along to our customers here at Scottsboro EPB. However, I have asked the Board of Directors over the last few months to soften the blow of these power increases to our customers. At the March Board meeting, the SEPB Board of Directors approved a rate increase that was $300,000 less than the TVA rate increase. This will ease the burden of a $1M rate increase and a $900,000 fuel cost adjustment TVA recently passed. Our Goodyear Generation Project will provide us with some cash flow profit that will offset these increases by TVA. We will continue to work hard to keep our power rates lower than the national average.

There seems to be no end to rising energy prices. With gasoline at $4.00 and diesel fuel at $4.70, everyday life is getting more expensive all the time. Now, even a quick trip to Walmart is a decision to spend at least $3.00 on gas and perhaps more. People are deciding to combine several individual trips into one large trip to make 3 or more stops. Since our country and our county is fairly rural, everyone has to drive everywhere. With almost no public transportation option, we have to either drive our car, depend on a friend, ride a bicycle, or walk. It's not much fun to walk when it's 95 F degrees outside!!

With the rising cost of food and everything else, many people are choosing to pull back on their spending for non-essential items. Recreation, clothing, eating out, and vacations have become the victims of these high-fuel prices. I wish I could say it is going to get better, but I don't see any relief in sight. A lot of us are stuck with low mpg SUV's and trucks and can not afford to trade vehicles. But, I suppose the next vehicle purchase we all make will be one that gets significantly higher miles per gallon.