Delaware Electric Co-op to credit $5M to members

The Delaware Electric Cooperative board of directors recently voted to return more than $5 million in capital credits to co-op member-owners this Thanksgiving season.

Some 74,000 members will receive capital credits from DEC in November in the form of a credit on their electric bill or as a check in the mail.

Capital credit refunds are also known as the co-op’s profits or margins. Because DEC is a not-for-profit utility, margins are returned to those the cooperative serves. To receive a billing credit from DEC, individuals must have been a Delaware Electric Cooperative member in 2013. All eligible active members will receive a credit on their November bill. Members who had an active account in 2013 but are no longer served by DEC will receive a check for their portion of the retired capital credits.

Rob Book, DEC CEO, said this return of profits highlights what sets electric cooperatives apart. “Without our members, who own the co-op, there would be no DEC. Every time they pay their electric bill, they’re helping us strengthen and modernize the system that keeps the lights on and our electric rates among the lowest in the region. Returning capital credits is our way of saying thank you for that partnership and trust.”

Over the past 20 years, DEC has returned nearly $100 million to members. “We’re proud to operate differently from other utilities,” Book said. “Our goal isn’t to generate profits for shareholders; it’s to deliver safe, reliable and affordable power to those we serve.”

For refund information, DEC members may call 855-332-9090. 

Delaware Electric Cooperative is a member-owned electric utility powering more than 300,000 people in Sussex and Kent counties. To learn more, go to delaware.coop.