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64K Delaware Electric Cooperative members receiving refunds this month

DEC announces $4M in refunds
(L to R) Co-Op President and CEO Greg Starheim and DEC Senior Vice President Rob Book announce the return of $4 million to Co-Op members.

The Delaware Electric Cooperative is sending out an early Christmas present.

The Co-Op’s president and CEO Greg Starheim says some member-owners can expect to see a bill credit or check from the utility this month.

“We just recently announced that we are doing a $4 million capital credit retirement," Starheim said. "And what that means is that, funds on the books of Delaware Electric Cooperative - you know our members are owners - and every year when we finish the year with positive margins, we allocate that on our books as member equity.”

Starheim says the Co-Op is in the process of distributing checks or bill credits to more than 62,000 members.

To receive a bill credit, you must have been a Co-Op member in 2010.

Those who had an account in 2010, but no longer get electricity from the Delaware Electric Cooperative will receive a check for their retired capital credits.

Starheim says over the past 10 years, the Cooperative has returned $60 million to its members.

He says people can find out if they are getting a capital credit here.