DEC to Return $4.1 Million to Members

By
administrator

GREENWOOD-The Delaware Electric Cooperative Board of Directors is pleased to announce the return of $4,100,000 in Capital Credits to its members beginning in November.

A strength of the cooperative business model, Delaware Electric Cooperative returns the profits, known as margins, in the form of capital credit refunds. The Cooperative works hard every day to keep rates as low as possible and it is reassuring to know that when there are margins, they go back to the members.

"The return of $4,100,000 in capital credits this year serves as another testament to our members' commitment to the "Beat the Peak" program and to the efficient and responsible management by the Cooperative Board of Directors and our employee team," said Bill Andrew, President and CEO, Delaware Electric Cooperative. "Our members' willingness and understanding of how the "Beat the Peak" program benefits them is a large contributor to the financial strength of Delaware Electric Co-op and they are to be applauded for their effort," he continued.

This year, Delaware Electric Cooperative is retiring $4,100,000 in Capital Credits to its member-owners, which includes all Capital Credits for the years 1991 and 1992 as well as a portion of 2010. If a present member has eligible Capital Credits of $100 or higher they will receive a check. If the amount of the Capital Credits is $99.99 or below, members will receive a credit on their bill. A previous member of record for the years 1991, 1992 or 2010 with Delaware Electric Cooperative will also receive a check for their portion of the retired capital credits.

"It is always good for our Board to be able to return Capital Credits to our members during the holiday season but particularly during these tough economic times," said Bill Wells, Chairman of the Delaware Electric Cooperative Board of Directors. "I am especially pleased that we can return these capital credits not only to our long-time members but to those who may have just become members of our Cooperative." he continued.

Delaware Electric Cooperative is a member-owned electric utility serving over 84,000 member-owners in Kent and Sussex County, Delaware. For more information visit us on the web at www.delaware.coop or www.beatthepeak.coop or follow us on Twitter and Facebook.