What contracts? this is probably only the U.S, most countries have fixed electricity prices, where I live, they need a legislative decision to change the power rate, but anyway, if you are able to get a 3-cent contract in the U.S which is below the world average, chances are even if for whatever reason they raise it to 4 cents the next year, you are still going to be below average.

The price of BTC is the least relevant aspect here, bull markets don't last for more than a few months, then the price stabilizes, difficulty catches up, and the final sayings goes to your power rate, during the main phase everything and everyone can be profitable, but that doesn't mean they will hit ROI or continue to mine the next month.

It's also important to stress the fact that the exact cost per KwH doesn't matter, what matters is, what tier are you on compared to the rest of the miners, 5 years from now, the average power rate could be 10 cents, and thus anyone with 9 cents will be doing great, if the average drops to 3 cents, then 3 cents won't save you, so the exact number doesn't mean much, but as long as you are paying below average -- you are more likely to be profitable.