DEC Returns More Than $61,000 to Kent County

For Immediate Release: December 7th, 2011

GREENWOOD, Del. - The Delaware Electric Cooperative has returned more than $61,000 in capital credits to Kent County’s Government. Bill Andrew, President and CEO of the Co-op, delivered two checks to the Kent County Levy Court Tuesday night totaling $61,885. The Kent County Wastewater Treatment Plant near Frederica is the Co-op’s largest customer.

In October the Co-op’s Board of Directors announced the return of $4.1 million in capital credits from 1991, 1992 and part of 2010 to member-owners. Because the Delaware Electric Cooperative is member-owned, any profits are returned to member-owners through what are called capital credits.

According to Bill Andrew, “We are thrilled to be able to return money to our members, especially around the holidays. We work hard every day to keep our rates low and the return of this money to our members is a testament to the dedication of the Co-op’s board and our employees to run an efficient and responsive cooperative.”

Andrew said member’s efforts to reduce energy usage through the Co-op’s “Beat the Peak” program also helped allow the Delaware Electric Cooperative to return the capital credits.

Member-owners started receiving capital credit checks or credits on their electric bills in late November. This will continue through late December.

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.

Please note: Attached is a picture of Delaware Electric Cooperative President and CEO Bill Andrew handing a check over to Kent County Levy Court President Brooks Banta.

Reporters’ Contact:
Jeremy Tucker, DEC Communications Manager
[email protected]
Office: (302)-349-3162
Cell: (302)-382-4303

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