Energy Experts: Inflation Impacting Electricity Costs
YUMA, Ariz. (KYMA, KECY) - CEO of Renewable Power USA Jimmy Esparza joined us in studio this week to talk about how the inflation is impacting electricity costs.
We asked him how does inflation impact electricity costs.
"So inflation impacts everything, right? Like in either as a homeowner or somebody that has a household and has bills. Right. Which is most of us there. And in electricity specifically, there has been an average of 3.5% of increase every single year. So what's happening right now is that the years has gone by a rate of 3% here, 3% here. So it adds and it adds is nine all the way to almost like 50% where we're currently at from, you know, the previous at least, you know, six years. So, you know, this month around, like people are seeing one of the high all time highest electricity bills. And there is a lot of surprise people that, you know, are looking for a way to to improve that. Right. So but there is you know, there is something positive about it. Right. There's options nowadays. Before it was like it is what it is and you're stuck there and you got to pay or else your electricity is shutting down. But now the the the thing that we love in the what I truly do love what I do because people have another option where they could, you know, they could save more money and they could ultimately get rid of those inflations, which is stop you know, some of the things that we're doing for a lot of homeowners in the community" says Esparza.
Why was the month of September the highest month as far as energy cost?
"Just like any business, really, like, you know, the utility companies, you know, the they're innovating because now they have to push this new again, though, where they have to have green energy. So they're doing a lot of solar fuels or, you know, they're renovating and innovating. And then also inflation is kicking in for them, right. For their employees and their expenses are sky high. They have to deliver the electricity. So there's so much behind it that somebody has to pay for it. Right. So, you know what they do every single year, They request massive increases. But we also have the you know, we have a consumer. We have you know, there is a committee, a community that's helping us out for the you know, so the the increases don't go that high. Right. So which is we're grateful for that. But still, there is those increases are impacting just because their business, they got to make money, you know, and somebody has to pay for that. Right. But, you know, the good thing is that there is a solution for that. Right? You know, for example, they have now an option. You know, through, you know, through us and that they're able to save and cut those and eliminate those, you know, and do it in a way which is more cost effective. And they don't have to have all those expenses that that are included within their utility company. You know, and also, we have something that's pretty fun, you know, that we help the customers refer a friend. So we just call an ambassador program that we have available for them that if you're a customer here with us, like, you could actually get a referral bonus for referring a friend or a loved one. So not only other able to save, but they even can make a little bit more income while they do that too, which is pretty, pretty amazing. We've been doing that for years. You know, we have a lot of, you know, grateful clients that, you know, we appreciate them a lot because they've been a big part of that" says Esparza.
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