Rising Costs Podcast

Recently on our Unplugged Podcast, Katie Woodle, chief financial officer, shared Blue Ridge Energy’s perspective on rising costs and the current economic status. This is a great episode for members to listen to so they can gain an understanding of how inflation is impacting your cooperative and how we are working to protect members in these trying times.  

Episode Highlights: 

• In March of 2022, the inflation rate was 8.5%, which is the highest it has been since the 80s. Everyone is feeling the repercussions of inflation whether it’s personal or through business. However, Blue Ridge Energy has always tried to plan ahead and prepare for these times in order to be secure.  

• A large impact has been the difficulty of getting materials due to back-orders and delays. Blue Ridge has been strategic and proactive about ordering materials in the past and striving to continue to do so. For instance, since we’ve routinely updated our operations vehicle fleet, we’re not as hurt as we would be by the difficulty of getting vehicles.   

• Woodle shared that, “We buy from a large purchasing group, TEMA (a central purchasing and materials supply cooperative), and they saw some of this coming and they ordered up.” Being able to partner and work with a sister cooperative is a huge asset.  

• Co-ops are working together throughout the state to provide the best service possible during these times. This is unique and beneficial for members, who are more than simply customers.  

• Blue Ridge is constantly weighing decisions with the best interest of members in mind for what will be the most applicable.   

• We are continuously looking at our cost structure and looking for ways to save members money whenever possible. 

• Woodle stated, “Everyday we are working to combat rising costs” in these trying times.  
  
  To find out more, listen to Unplugged wherever you get your podcasts.
  Spotify, Apple