Countering High Inflation and Interest Rates
High inflation and high interest rates cost us all. With inflation rising to levels unseen in decades, households across Arkansas and the United States are asking how much more they can expect to pay for gasoline, groceries and other necessities. Who could have imagined $6 for a dozen eggs or $5 for orange juice?
According to an AI Google search on March 4, 2025, a “good” interest rate for a 72-month car loan is approximately 7% for new cars and nearly 13% for used cars. Local banks report car payments today start somewhere around $700 per month for a new car financed for 72-months. Who could have imagined $700 being a minimum average car payment?
Similarly, Petit Jean Electric Cooperative is not in control of inflation or interest. Nevertheless, to continue providing safe and reliable electric power in a responsible manner, upon which our lives and livelihoods depend, Petit Jean Electric has to pay the increased costs for materials and interest. Regardless of the economy, Petit Jean Electric is dedicated to keeping every household and business thriving and moving forward. We know you depend on us, and we take that responsibility seriously.
Though Petit Jean Electric is not in control of inflation and interest rates, we work diligently to counter the costs of inflation and interest. We maintain relationships with vendors, always ensuring that they earn our business with the best prices for poles, wire, connectors, breakers, insulators, arrestors, transformers and other materials. We also maintain a healthy financial equity and credit rating and diversify our lending sources to obtain the best interest rates possible.
Petit Jean Electric also builds efficiencies into our operations through dedicated employees and the efficient use of resources. The cooperative maintains 20,849 active meters and 3,587 miles of line (5.8 meters per mile of line) serving nine counties (in whole or part) with 65 employees. These statistics make Petit Jean Electric one of the most efficient electric utilities in Arkansas.
Regardless of changes in inflation and interest rates, Petit Jean Electric’s responsibility never wavers. We exist to serve and take care of your energy needs. We are your not-for-profit cooperative. Petit Jean Electric’s margins (money remaining after the bills are paid) are ultimately returned back to you, based on each member’s total meter usage. There is no benefit to Petit Jean Electric to charge more than is needed. When the bills are paid, any margins are returned to you, a member-owner of Petit Jean Electric.
No matter what your electric power needs may be (outage restoration, energy-efficiency guidance, free energy audit, etc.), Petit Jean Electric’s dedicated employees stand ready to assist you, regardless of rain, sleet or snow, day or night. Your Petit Jean Electric Cooperative has one of the fastest outage response and restoration times of any electric utility in the state. We also have some of the best energy efficiency experts in the state. We are just a phone call away, (501) 745-2493, 24 hours a day, every day of the year, including holidays.
