DEC To Return Millions To Members In December
Delaware Electric Cooperative to Give $3.4 Million to Members in December
GREENWOOD, Del.- Delaware Electric Cooperative’s Board of Directors has voted to return $3.4 million in capital credits to the Cooperative’s member-owners in December. Capital credits are also known as the Co-op’s profits or margins. Because DEC is a non-profit utility, margins are returned to the people the Cooperative serves.
Capital Credits from 1996 will be distributed to members through a credit on their electric bill or a check. To receive a billing credit or check from the Cooperative, you must have been a Delaware Electric Cooperative member in 1996. If a member has eligible capital credits of $100 or higher, they will receive a check. If their allocated capital credits amount is less than $100, a member will receive a credit on their bill. Members who had an active account in 1996, but are no longer served by DEC, will also receive a check for their portion of the retired capital credits.
According to Bill Andrew, President and CEO of DEC, “This process is what sets us apart from other utilities. We’re not in business to make a profit for shareholders. If there is leftover money, we give it back to our members. We return the money to members around the holidays because that’s when many people need it the most.”
Over the past six years the Cooperative has returned more than $15 million to members. Anyone with questions about their capital credit refund should call the Cooperative at 855-DEC-9090.