Delaware Electric Cooperative members are owners of the business. As an example of the cooperative business model, Delaware Electric Cooperative members share the profits, known as margins, in the form of capital credit refunds.
The cooperative works hard every day to keep rates as low as possible, but when there are margins, they go back to the members.
This year, Delaware Electric Cooperative is retiring $1.5 million in capital credits to its member-owners.
Current members who have eligible capital credits of $100 or higher will receive a check. If the amount of the capital credit is $99.99 or below, members will receive a credit on their December bills.
Previous members of record with Delaware Electric Cooperative will also receive a check for their portion of the retired capital credits. Delaware Electric Cooperative is retiring capital credits for the year 1988.
“The return of capital credits this year should serve as a testament to the members’ commitment to the Beat the Peak program and to the efficient and responsible management by the cooperative board of directors and staff,” said Bill Andrew, cooperative president and CEO. “Our members’ willingness and understanding of how the Beat the Peak program benefits them is a large contributor to the financial strength of Delaware Electric Co-op, and they are to be applauded for their effort,” he said.
“Capital credits distinguish cooperatives from any other business model,” said Rob Book, manager of government and community relations. “Certainly in Delaware there is no other utility giving money back to their consumers.”
Delaware Electric Cooperative is a member-owned utility serving over 77,000 Kent and Sussex County member-owners.
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