Delaware Electric Cooperative Press Release

Delaware Electric Cooperative Board of Directors

Postpones anticipated April increase

GREENWOOD—Several factors have combined in recent months which have worked out to favor Delaware Electric Cooperative member-owners and have allowed their cooperative to defer an anticipated rate increase in April which was needed to cover increased wholesale power costs.

Today, the Delaware Electric Cooperative Board of Directors has decided to defer an anticipated April rate increase for members of the cooperative. “A combination of softening energy markets, and the addition of efficient base-load generation have been significant factors for the Board’s decision to forgo this increase,” said Bill Andrew, President & CEO of Delaware Electric Cooperative. “But equally important and one of the largest factors for this decision was the incredible success of the Delaware Electric Cooperative’s Beat the Peak program,” he continued.

Since the “Beat the Peak” program began in May 2008 at Delaware Electric Cooperative to assist in demand reduction at key, high usage, periods, it is estimated the program has saved Cooperative members approximately $2 million. “Make no mistake about it; the reductions that we achieve from this program when our members heed our call for assistance go directly to the bottom line. If you are looking for proof that “Beat the Peak” works for its members, here it is,” stated Bill Andrew.

Furthermore, the recent departure at the beginning of the year of one of the larger members of Old Dominion Electric Cooperative (ODEC), has left Delaware Electric Cooperative in an enviable position in today’s energy marketplace with a larger share of efficient, low cost base-load generation assets owned by ODEC. This in turn is a direct benefit to all members of Delaware Electric Cooperative and can be directly attributed as one of the reasons for this deferment.

Delaware Electric Cooperative Board Chairman Bill Wells said, “the Board is extremely pleased that we are able to defer the anticipated rate increase we were facing late last year. But we are most excited that our members are taking ownership of their energy costs and helping support the “Beat the Peak” program.” Additionally, the Board is pleased to report that the cooperative is well positioned in the future with respect to cost control and supply when compared to the competing electric distribution companies in the region.

Delaware Electric Cooperative is a member-owned utility serving over 74,000 Kent and Sussex County member-owners. For more information visit our website at www.delaware.coop.

Published by Joe Albero

Publishers Note: Where else have you seen "Beat the Peak" promoted? Salisbury News has been promoting this program since day one. While some complained about it, others have enjoyed $2,000,000.00 worth of savings.