DEC Approves Rate Changes
Delaware Electric Cooperative’s Board of Directors approved rate changes on March 17th for DEC members. On April 1, rates for those served by Delaware Electric Cooperative will fall by three percent, a reduction that will save DEC’s membership $6 million per year.
The rate decrease will save the average family using 1,000 kilowatt-hours of electricity about $4 per month, or $50 per year. Under the proposal approved by the board, the Power Cost Adjustment (PCA) will fall from $0.019 to $0.013 per kWh. The customer charge will increase by $2, rising from $14 to $16. The Co-op’s rates remain among the lowest in the region. Co-op members save hundreds of dollars per year in energy costs, compared to the average rates charged by Delaware’s other electric utilities.
According to Co-op President and CEO Bill Andrew, “This is the second time in less than a year the Co-op has been able to lower energy costs for our members. Lower wholesale power costs are helping to keep our rates affordable. Member participation in our Beat the Peak program has also helped to keep electricity costs lower. The voluntary energy saving-program has saved our members more than $34 million over the past 13 years.”
When the rate decrease takes effect on April 1, Co-op members will be paying less for power than they did in 2008. Andrew hopes the extra energy savings will be welcomed as Delawareans continue to recover from COVID-19 economic hardships.
Delaware Electric Cooperative is a member-owned electric utility powering more than 105,000 homes, farms and businesses in Kent and Sussex Counties. For more information, visit us on the web at www.delaware.coop or www.beatthepeak.coop or follow us on Twitter and Facebook.