GREENWOOD, DE - The Delaware Electric Cooperative (DEC) board of directors has voted to give back more than $5 million in credits to Cooperative members this December.
According to DEC, the Cooperative expects to provide checks or billing credits to over 75,000 members over the holidays. Because the DEC is not-for-profit, capital credit refunds, or the Cooperative’s profits, are returned to DEC members.
Individuals must have been a DEC member in 2011 to receive these billing credits, DEC says. All eligible current members are set to receive a credit on their December bill, and those who are no longer active can expect a check for their portion of the credits, according to the Cooperative.
“Capital credits represent a payback for member’s investment in the Co-op, and we hope this helps to brighten the holiday season for our members,” said Rob Book, president and CEO of DEC. “The return of capital credits is part of what makes our not-for-profit electric cooperative so different from other utilities.”
DEC says newer members not served in 2011 will also eventually receive capital credits. Over $65 million has been returned to DEC members over the past ten years, the Cooperative claims.
DEC members who have questions about their capital credit refund should call DEC at 855-332-9090.