81,000 Delaware Electric Co-op Members to Receive Capital Credit Refunds

GREENWOOD, Del. — Delaware Electric Cooperative (DEC) has announced it will return $10 million in capital credits to 81,000 members who received electricity from the Cooperative in 2014 and 2015. Most members will receive the money as a credit on their November electric bill.

The distribution is possible because DEC is a member-owned, not-for-profit utility. Unlike investor-owned utilities, DEC returns its profits, known as margins, to the members it serves. Each time members pay their electric bills, they help build equity in the Cooperative. That money is used to maintain and improve the electric system before being returned to members, typically 10 to 20 years later.

“Returning $10 million to our members is something we’re incredibly proud to be able to do,” said President and CEO Rob Book. “Our members have helped build this Cooperative, and capital credits are one of the strongest examples of what it means to be a member.”

Members who currently receive electricity from DEC and were served by the Cooperative in 2014 or 2015 will receive their capital credits as a billing credit in November. Former members who received service during either of those years will receive a check by mail.

Individual returns will vary based on how much electricity each member used during 2014 and 2015. Members who joined the Cooperative after 2015 will receive capital credits in future years.

DEC has now returned more than $100 million in capital credits to members over the past 20 years. The Cooperative's Board of Directors authorizes capital credit retirements based on DEC's financial position and its ability to continue investing in a safe and reliable electric system.

“Our business model is about people over profits,” Book said. “We are proud to offer some of the lowest electric rates in the region while also returning millions of dollars to our members, which is especially meaningful during the holiday season.”

Members with questions about their capital credits can call DEC at 855-332-9090 or visit www.delaware.coop. Former members who have moved are encouraged to make sure DEC has their current mailing address.

Delaware Electric Cooperative is a not-for-profit, member-owned utility that provides electricity to more than 300,000 people in Kent and Sussex counties. To learn more, visit www.delaware.coop.