Delaware Electric Co-op to decrease rates

Delaware Electric Cooperative plans a rate decrease expected to be approved by the company’s board of directors Wednesday, May 20.

The measure would decrease co-op member electric costs by 4 percent or an average of $60 per year. According to the co-op, the decrease would save the overall membership $7 million per year. The decrease is expected to take effect Monday, June 1.

The May 20 board meeting will be held via teleconference, in order to maintain social distancing to prevent the spread of coronavirus. 

Jeremy Tucker, spokesman for DEC, said, “The cost to purchase and produce energy for our members is falling. The co-op is a not-for-profit utility, so when our cost to produce and purchase power falls, those savings are passed on to those we serve.”

Tucker said the co-op’s Beat the Peak program, which asks members to voluntarily conserve energy during times when the cost of energy is high, like in the heat of summer, has also helped.

The decreases are the latest action taken by the co-op, which has 102,000 members, to help members struggling economically as a result of businesses that have been closed to help slow the spread of coronavirus. The co-op already has decided to waive late fees and has temporarily stopped disconnects for nonpayment.   

“When the crisis started, we halted shut-offs and waived all late fees,” Tucker said. “We are also encouraging members who are struggling to pay their bills to notify us and to reach out to agencies who can help them during this difficult time.”

As for if or when rates may rise or be lowered again, Tucker said that is difficult to say, as the cost to purchase or produce energy is always changing. But for now, he said, the cost is heading down.

The board meeting will be held via teleconference, and the co-op will provide a call-in number for members in the forthcoming weeks. Comments can be submitted via direct mail to Delaware Electrical Cooperative, 14198 Sussex Highway, Greenwood, DE 19950.