Del. Electric Cooperative considers 8 percent rate increase
Delaware Electric Cooperative customers may see higher electric bills as early as March, as the utility’s board of directors is considering an 8 percent rate hike.
“Groceries, fuel and materials now cost significantly more than they did one year ago,” the utility said in its customer newsletter. “Unfortunately, Delaware Electric Cooperative is not immune from the cost pressures created by the largest increase in inflation in three decades.”
DEC’s last rate increase occurred in 2019.
The DEC board is scheduled to meet at 5 p.m., Wednesday, Feb. 16, to consider the rate change.
As of Dec. 15, the cost of natural gas, which is used to generate much of the co-op’s power, had increased by 60 percent.
“We had hoped to absorb these increased costs through late 2022,” the co-op said. “As a not-for-profit utility, DEC has no choice but to pass those costs along to our members.”
The board is considering an adjustment to customers’ bills that reflects the cost of purchasing power supply. If approved, the power cost adjustment would increase from $0.013 per kWh to $0.023, adding about $10 per month to the average residential member’s bill. DEC notes that even with a rate increase, DEC customers will still have among the lowest electric rates in the region.
A link to the Feb. 16 meeting can be found at delaware.coop/march-2022-rate-adjustment. Those who have trouble viewing the hearing may call 478-245-4042. Members can also call in and listen to the proceedings. Dial +1-301-715-8592 or +1-312-626-6799, then follow the prompts to enter the webinar ID: 952 4047 4727, then enter the passcode: 899468. Members who are unable to attend the virtual meeting may contact Kevin Yingling, member services manager, at 302-349-3120 or kevin@delaware.coop.
