Did You Know?
DEC's Board Is Lowering Rates for Co-op Members!
Delaware Electric Cooperative’s Board of Directors voted on proposed rate changes at a special meeting held on March 17th. The board voted to lower overall rates by roughly 3 percent. Due to COVID-19 gathering restrictions, the meeting was held via teleconference. Members were able to watch the proceedings via a live video stream.
What This Means for Members:
Under the measure approved by the board, the Power Cost Adjustment (PCA) fell from $0.019 to $0.013 per kWh. The customer charge was increased from $14 to $16 for all rate classes. The customer charge is a fixed fee members pay which ensures our system is as reliable as possible. The charge pays for trucks, wire, transformers, poles, technology and billing services used by all members, regardless of how much electricity is consumed. The fee makes sure members pay a fair share of the basic cost to run the Cooperative. The increase in this charge is a result of recent studies that show the actual cost to provide members these basic services is about $21 a month. While we don’t want to raise the charge to $21, the previous $14 charge doesn’t cover the actual cost to provide service.
Overall electric costs for members will fall by three percent, saving a residential member using 1,000 kWh per month about $50 per year. The move will save DEC’s membership over $6 million per year. The rate decrease takes effect on April 1 and is possible because Co-op employees work very hard to keep electric rates affordable. Wholesale power costs are falling, and our Beat the Peak program has also helped to keep our rates among the lowest in the region.