Delaware Public Media

Delaware Elec. Co-op giving back millions to members this month

Dec 9, 2018

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

 


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

“We were able to give back $7.7 million to our members. This $7.7 million represents the profits that we’ve been able to accumulate over the years by keeping our operations efficient, purchasing power very effectively through the marketplace and utilizing our own power plants,” Andrew said.

 

Andrew says in order to receive the credit or check you must have been a Delaware Electric Cooperative member in 1987 or ‘88, 1990 or ‘91, 2005, 2006 or 2007.

He says if a member has eligible capital credits of $100 or higher, they get a check. If their capital credits are less than $100, they receive a credit on their bill.

 

"It’s one of the unique and very rewarding parts of being a Cooperative in that we are not-for-profit and we share all of our profits with all of our members,” said Andrew.

 

Andrew notes the DEC has returned nearly $35 million to its member over the past six years.

He says the money is returned to member-owners during the holidays, because that’s when they need it the most.

 

Members can call the Co-Op or visit the DEC website to see those receiving capital credits.