Delaware Electric Cooperative returning more than $5 million to members

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Delaware Electric Cooperative’s (DEC) board of directors has voted to return more than $5 million in capital credits to member-owners in December.

DEC expects to distribute checks or billing credits to more than 65,000 members this holiday season. Capital credit refunds are also known as profits, or margins. Because DEC is a not-for-profit utility, margins are returned to members

To receive a billing credit from DEC, individuals must have been a Delaware Electric Cooperative member in 1991, 1992 or 2010. All eligible active members will receive a credit on their December bill. Members who had an active account in 1991, 1992 or 2010, but are no longer served by DEC, will receive a check for their portion of the retired capital credits. 

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Over the past ten years, the member-owned cooperative has returned more than $60 million. 

Newer members who were not served by DEC in 1991, 1992 or 2010 will eventually receive capital credits. These credits are considered to be a return on the member’s investment in the system. Each month that a member pays their electric bill, they are helping to pay for improvements to the system.

After about a decade, members begin seeing an even greater return on their investment in the form of a billing credit from the cooperative. Members do not receive a refund for the first few years because it would not be fair to the earlier members who have paid for maintaining the current electrical system, according to the co-op.

The system is unique to cooperatives. 

Anyone with questions about their capital credit refund can call DEC at 855-332-9090. 

Delaware Electric Cooperative is a member-owned electric utility powering more than 300,000 people in Kent and Sussex Counties.

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