DEC Board Approves Rate Decrease

Delaware Electric Cooperative’s board of directors approved a rate decrease for members at a special meeting held on Wednesday June 12. In June, Old Dominion Electric Cooperative (ODEC), DEC’s wholesale power provider, announced a slight reduction in the price DEC pays for electricity. These lower costs are largely the result of a drop in the cost of fuel used to generate electricity. DEC’s board of directors was asked by Co-op leaders to consider lowering the power cost adjustment (PCA) on member bills by 0.0015 cents per kWh starting on July 1. The board approved the PCA decrease which will lower monthly electric costs for the average member using 1,000 kWh by about $1.50 per month. While the decrease is small, this will be the second rate decrease passed along to a majority of DEC members in 2024. Delaware Electric Cooperative currently offers the lowest electric rates in the region and is committed to keeping energy costs affordable to members.