Del. Electric Co-op Refunds $4-Million In Capital Credits
Delaware Electric Cooperative is refunding $4-million in capital credits among more than 64,000 member-owners of the co-op in December.
Checks or billing credits will be made available for those who had an active DEC account in 2010. Those who no longer are served by DEC will receive a check for their portion of the retired capital credits. Members who were not served by the Co-op in 2010 will also eventually receive capital credits.
Because Delaware Electric Cooperative is a not-for-profit utility, profits or margins are returned to its members. Credits are considered to be a return on the members’ investment into the system.
“This is an exciting time of the year for our Co-op. We hope these member refunds and billing credits will help members during the Christmas season,” Delaware Electric Cooperative President and CEO Greg Starheim said. “The return of capital credits is what sets co-ops apart from for-profit utilities. We are focused on providing reliable service and affordable rates to members, not on making profits. Our business model allows us to offer refunds to members and is why our electric rates are affordable.”
According to the Co-op, it has returned $60-million to its members over the past ten years.
Anyone with questions about the capital credit refund may call DEC at 855-332-9090.