DEC Announces December Billing Credits

Delaware Electric Cooperative’s Board of Directors has voted to return more than $5 million in capital credits to the Cooperative’s member-owners in December. DEC expects to distribute checks or billing credits to more than 64,000 members this holiday season. Capital credit refunds are also known as the Co-op’s profits or margins. Because DEC is a not-for-profit utility, margins are returned to the people the Cooperative serves. To receive a billing credit from the Cooperative, individuals must have been a Delaware Electric Cooperative member in 1991, 1992 or 2010. All eligible active members will receive a credit on their December bill. Members who had an active account in 1991, 1992 or 2010, but are no longer served by DEC, will receive a check for their portion of the retired capital credits. According to Rob Book, President and CEO of DEC, “We hope the return of capital credits will help to brighten the holiday season for our members. Despite the rise in energy costs this year, our Co-op remains committed to continuing the tradition of returning money to members. As a not-for-profit cooperative, we have an obligation to return margins to members and we intend to keep that promise, even during a global energy crunch.” Over the past ten years, the Cooperative has returned more than $60 million to its members.