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Learn how EU keeps costs low

CFO Alec Natt discusses EnergyUnited’s ongoing efforts to provide safe, reliable power at the lowest possible cost.

What are some of the ways that EnergyUnited is keeping member costs low?

We are always challenging ourselves to find the least expensive ways to do things. One of the ways that manifests itself is by having a very lean employee base to minimize operational costs, which in turn keeps member rates low. At the end of the day our members own us and control us, which means we’re stewards of their money and aren’t in it to make a huge profit. When we have excess, we pay it back to our members by way of capital credits, or invest it in new technologies to keep us improved and minimize our costs.

What leads to affordable energy rates?

Since 2018 our rates have stayed consistently low—part of that is because of our rate stabilization program—a program that helps us protect our costs and project prices out until 2035. This and several other components help to provide a stable rate environment that keeps our prices predictable and our members happy.


Why should members feel good about our rates?

Stability is a huge part of it. Think of it this way: Look at how everything in your life changes year over year or even month to month. Cellphone prices go up, gasoline prices change daily and weekly, home prices fluctuate month to month and yet the energy rates we’re able to provide our members are stable. That’s something I’m very proud of.


How much does sustainability play a role in affordability if any?

We are consistently looking for ways to make sustainable choices for our operations and our members. In doing so, we are taking steps to prepare ourselves for the future. It’s certainly a long game when it comes to balancing sustainable choices with the mindset of our membership, and a push to stay affordable. It’s all about EnergyUnited striking the right arithmetic today to plan for a tomorrow that’s sustainable since many of these programs have a longer-term payback.


What’s something else you wish members were more aware of?

We haven’t raised rates in nearly three years and even still we’re the most affordable co-op in North Carolina. That’s something that I and the entire EnergyUnited family are very proud of.

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