Electric cooperative distributing profits to members
(AP) — Directors of the Delaware Electric Cooperative have voted to return almost $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.