Delaware Electric Cooperative’s (DEC) Board of Directors has voted to return $6.3 million in capital credits to the Cooperative’s member-owners in December.
Capital credits refunds are also known as the co-op’s profits or margins. Because DEC is a not-for-profit utility, margins are returned to members.
Delaware Electric Cooperative members since 2008 are eligible for the check.
If a member has eligible capital credits of $100 or higher, a check is issued.
If the allocated capital credits amount is less than $100, a member will receive a credit on their bill.
Members who had an active account 2008, but are no longer served by DEC, will also receive a check for their portion of the retired capital credits.
DEC expects to distribute checks or billing credits to more than 60,000 members the holiday season.
The cooperative serves rural areas in Kent and Sussex County. It is based in Greenwood.
DEC General Manager Bill Andrew donned a Santa suit to announce the credits. (See above video)