Rising cost: The truth about your electric bill

By Hayley Leatherwood May 2026

It’s not just rates. It’s habits and hidden inefficiencies. A new program helps members take control of costs.

The air conditioner gave out first.

In the middle of a busy workday at her Cleveland tag agency, Stephanie Cruzen was staring down a reality that didn’t pencil out: a 100-year-old building, a 30-year-old unit finally done, and a $15,000 replacement she hadn’t planned for. Add in a roof already on the horizon, and suddenly the math jumped to $30,000.

That’s the kind of number that forces a decision. Either delay the fix and endure the heat or find a way to make it work.

Cruzen made a phone call.

By the end of the week, new air, ductwork and insulation were installed. The building stayed open. Her customers stayed comfortable. And the bill didn’t land on her desk all at once. It showed up, affordably and predictably, on her Indian Electric Cooperative (IEC) monthly statement.

“It took me all of three minutes to fill out the application,” she said. “They handled the rest.”

That moment between a breakdown and a solution is exactly where IEC’s energy saver program steps up for its membership.

The pressure behind the program

Rising electric bills aren’t imagined, and they aren’t isolated. They’re the result of forces that start far beyond a member’s home.

“Increased demand is a big driver,” said IEC CEO Todd Schroeder. “And the cost of generation — those assets have doubled in some cases from what was projected just a few years ago.”

Those decisions happen upstream, at the generation and transmission level, where individual cooperatives have limited control. But what happens downstream, inside homes, businesses and everyday energy use, is a different story.

“Where we can make a difference is on the demand side,” Schroeder said. “Helping members find ways to manage their usage, improve efficiency and ultimately reduce the need for more generation.”

That’s the strategy behind the program: not a single sweeping solution, but a series of smaller, practical steps that add up.

“The only way we fix the issues we face is when we take ownership in fixing our problems,” Schroeder said. “I do believe small changes can become something substantial.”

What members think — and what’s really happening

When bills go up, frustration tends to follow.

Denise Sherwood, IEC’s energy services specialist, sees it every day.

“A member will call and say, ‘You’re charging too much. I’m not doing anything different. Why is my bill higher?’” she said.

The answer is rarely simple, but it’s often visible.

Temperature swings, aging equipment and air leaks quietly drive up usage. And until members see it for themselves, it can be hard to believe.

“We’ll send out an energy auditor at no charge,” Sherwood said. “When they see it with a thermal gun or a blower door test where the air is escaping, it’s black and white. It’s hard to deny.”

What surprises many people is how often the biggest issues aren’t dramatic.

“Insulation and weather stripping are the biggest bang for your buck,” she said. “Sometimes it’s something as simple as a smart thermostat — set it and forget it. That alone can make a huge difference.”

But knowing what to fix and being able to afford it are two different things.

Bridging the gap

That’s where the energy saver program steps in.

Launched in August 2024, the program offers low-interest financing at 1% for energy-efficient upgrades, from HVAC systems to insulation and beyond. There are no credit checks, upfront payments or complicated processes. Members get a quote from an approved contractor, and the cooperative pays the bill directly. The cost is then added to the member’s electric bill over time.

So far, more than 140 members have participated, with over $2 million in loans issued. The program is funded by a grant through USDA, making it a win-win for the membership and the cooperative.

“We have people in tears,” Sherwood said. “They just couldn’t afford these upgrades otherwise. And when they see their usage go down — it’s life-changing.”

The program also requires an energy monitoring system, giving members real-time insight into how and when they use electricity. Weekly reports and usage patterns turn something abstract into something actionable.

“It’s about showing them what’s happening in their home,” Sherwood said. “And giving them the tools to change it.”

A different kind of relationship

For Schroeder, the program represents something larger than financing.

“This is about partnership,” he said. “Not just providing reliable power when you flip the switch, but it’s about helping members improve their comfort and manage their costs.”

That shift from provider to partner is intentional.

“We’re doing something unheard of,” he said. “We’re helping our members spend less on the product we supply. Who else does that?”

Schroeder emphasizes the local cooperative board of directors is unanimously in support of the program. The guiding light for the decision to implement the program was the impact to the member, not the revenue.

The result, he said, is trust.

When IEC recently implemented a modest rate increase, the reaction was telling. Instead of widespread complaints, many members spoke up in support, often pointing others toward the energy saver program.

“That was an eye-opener,” Schroeder said. “Members were telling each other, ‘Have them come check your home.’”

It’s a sign that the message is starting to stick: that rising costs aren’t just about rates, and that members have a role to play.

“If they recognize that and work with us, they’ll see their comfort improve and their costs reflect those changes,” he said.

Back where it started

Cruzen didn’t set out to become an advocate.

She just needed air conditioning.

But after using the program for her business, she turned to it again when her home heater failed during a February cold snap. Same process. Same result.

“I wasn’t involved in it at all,” she said. “They handled everything. It’s just on my bill.”

In one year, she replaced multiple systems — more than $35,000 worth of upgrades she says wouldn’t have been possible otherwise.

And the impact shows up in the details: a more efficient home, a more comfortable workplace and even one less monthly bill after removing a gas meter.

Her electric bill increased, but by less than $200, she said, offset in part by the savings.

For Cruzen, the bigger takeaway is simpler.

“I think people are crazy not to use this program if they can,” she said. “Indian Electric has made it possible for me to have working heat and air when I couldn’t have done it on my own.”

It’s not a flashy program. It doesn’t promise overnight change.

But in homes and businesses across Indian Electric’s service area, it’s turning problems into plans and bills into something members can take more control of.

“For decades, someone called in and couldn’t pay their bill, we had to be the bad guy,” Schroeder said. “Now we have solutions, we have options that aren’t just ‘no.’ That drives energy levels for all of us.”

Who qualifies?

Members with at least one year of continuous service, a strong payment history without pre-pay and internet access for monitoring technology may qualify for the program.

What’s in it for the member?

Indian Electric Cooperative covers the upfront cost of energy-efficient upgrades, allowing members to repay loans at 1% interest through their monthly bill. Along the way, participants gain real-time insight into their energy use, often leading to lower costs and a more comfortable home or workplace.

Are you an IEC member?

IEC members can find all the details and an interest form to get started at iecok.com/

Editor’s note:
This article is the second in a three-part series dedicated to rising costs in the industry. Visit the Energy News Hub to learn more.