Delaware Electric Cooperative’s Board of Directors approved a rate decrease for all 103,000 of its members.
On June 1, rates for those served by Delaware Electric Cooperative will fall by four percent, a reduction that will save DEC’s membership $7 million per year.
The rate decrease will save the average family using 1,000 kilowatt-hours of electricity $5 per month, or $60 per year.
While the Co-op’s rates have been adjusted periodically over the last decade, they 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 Bill Andrew, “Falling wholesale power costs and our nationally-recognized Beat the Peak program allowed us to lower energy costs for our members. Beat the Peak has saved members more than $32 million since 2008.
Our 155 employees work extremely hard to provide members with affordable and reliable power. We are proud to offer Delawareans some of the lowest electric rates on Delmarva.”
When the rate decrease takes effect on June 1, Co-op members will be paying the same price for power they did in 2008. While the rate change was planned before the COVID-19 crisis struck, DEC officials hope lower energy costs will help those struggling financially during the pandemic.
Delaware Electric Cooperative is a member-owned electric utility powering more than 103,000 homes, farms and businesses in Kent and Sussex Counties.