Delaware Electric Cooperative Distributing Profits to Members - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Delaware Electric Cooperative Distributing Profits to Members

Posted: 11/30/2017 08:04:00 -05:00 Updated:

GREENWOOD, Del. (WBOC/AP)- Directors ofDelaware Electric Cooperative have voted to return nearly $5 million in capital credits to the co-op's member-owners.

The capital credits, which represent profits or margins, are to be distributed in December to customers of the not-for-profit utility.

Officials say the billing credits or checks will be given to customers who were co-op members in 2002, 2003 or 2004.

Those with eligible capital credits of $100 or more will receive checks, while capital credits less than $100 will be distributed as credits on monthly bills.

Officials say that over the past five years, the cooperative, which serves 95,000 member-owners in Kent and Sussex counties, has returned nearly $30 million to members.

“Giving this money back to our members is part of what makes electric cooperatives so different from other utilities," said Bill Andrew, president and CEO of DEC. "We are owned by those we serve, return any profits to those we power and make decisions based on what’s best for our members. We try to return this money around the Christmas season because that’s when a lot of members need it the most.”

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