The Delaware Electric Cooperative (DEC) is sending out early Christmas presents.
The Co-Op’s president and CEO Bill Andrew says some member-owners are seeing a bill credit or check from the utility this month.
“Merry Christmas to all. 72,000 members and ex-members will receive the $8 million. And it’s a great time right before Christmas - it’s a great time because there’s a lot of people who are stressed out over the pandemic and many of them have suffered economic worries.”
Andrew says to receive a billing credit from the Cooperative, you must have been a DEC member in 2009.
Capital credits are considered to be a return on members’ investment in the system. Each month members pay their electric bill, they help to pay for improvements to the system. The immediate payback is increased reliability and low rates.
Andrew says active members do not receive a check. They can instead view the billing credit on their paper bill or by viewing their bill through DEC’s online SmartHub portal or the Co-Op’s app - DEC Connect.
Andrew says members with an active account in 2009, but no longer served by DEC receive a check for their portion of the retired capital credits.
Over the past eight years, the Cooperative has returned more than $42 million to its members.
Andrew says the money is returned to member-owners during the holidays, because that’s when they need it the most.