Delaware Electric Cooperative Proposes Rate Decrease
For Immediate Release: January 3rd, 2017
GREENWOOD, Del.- Delaware Electric Cooperative’s Board of Directors is considering a rate decrease for all 93,000 member-owners. Co-op President and CEO Bill Andrew has requested the rate change and, if approved by the Board, rates for those served by Delaware Electric Cooperative would drop about five percent.
The rate decrease would save the average family using 1,000 kilowatt-hours of electricity $6 per month, or $72 per year. While the Co-op’s rates have been adjusted periodically over the last decade, they remain the lowest in the State of Delaware. Co-op members save $300 per year in energy costs, compared to the average rates charged by Delaware’s other electric utilities.
According to CEO Bill Andrew, “Electric cooperatives were founded to provide safe and reliable energy to members at the lowest possible cost. We are excited to be able to lower rates for everyone at a time when the cost of everything else seems to be going up. Wholesale power costs are falling and at DEC, we work hard to keep other costs under control, maintain an efficient workforce and promote programs like Beat the Peak.”
Beat the Peak is a voluntary program where members conserve energy during times when the price of energy is high. Since its inception in 2008, the program has saved Co-op members $24 million. Beat the Peak is being used by nearly 100 not-for-profit utilities across the country.
The rate decrease would result from a series of changes to how members’ bills are calculated. The Power Cost Adjustment would be lowered and the delivery charge would be increased, resulting in a net five percent decrease for all members in all rate classes. The Co-op’s Board of Directors will hold a public hearing on the proposed changes on Wednesday February 15, 2017 at 6:00 p.m. at Delaware Electric Cooperative’s headquarters, 14198 Sussex Highway, Greenwood, DE 19950. After hearing comments from members, the Board will vote, during the meeting, on the proposal.
While the Co-op is able to lower rates right now, there is no guarantee rates will not have to be changed in the future. “The energy markets are constantly fluctuating and changes in the weather, natural gas supplies and government regulations could all result in rate changes down the road,” said Andrew.
For more information on the rate changes please visit our web site at www.delaware.coop.
Delaware Electric Cooperative is a member-owned electric utility serving 93,000 member-owners in Kent and Sussex Counties, Delaware. For more information visit DEC on the web at www.delaware.coop or www.beatthepeak.coop or follow us on Twitter and Facebook.