Adams Electric Cooperative held its 85th Annual Meeting of Members on Sept. 3 at Bailey Park, highlighting financial strength, community programs, and local initiatives.
Adams Electric General Manager Jim Thompson updated members on the two components of power supply, capacity and energy. While many utilities across the Midwest faced higher electric costs due to the recent Midcontinent Independent System Operator (MISO) capacity auction, Adams Electric Cooperative and its power supplier, Prairie Power Inc., were not affected.
Because the Cooperative owns generation assets, including a share of the Prairie State generation facility, and secures the remainder of its capacity needs through power purchase agreements and bilateral contracts, members were shielded from the recent capacity auction. A video of Prairie State generation facility was shared with the members. This facility provides approximately 60% of Adams Electric’s energy needs and 41% of its capacity needs.
Thompson emphasized that this diversified power portfolio helps ensure stability and affordability for co-op members, even during volatile market conditions.
Treasurer Jim Ward reported that the Cooperative ended 2024 with total revenues of $27 million. Energy sales remained steady at 168 million kilowatt-hours. Power supply costs accounted for $16.5 million, or 61 percent of revenues.
Investments in the electric system totaled $2.2 million in 2024, supporting new services and replacing aging equipment. Members received $498,000 in capital credit retirements last December. Operating margins closed at $925,000 combined with non-operating margins of $1.2 million, resulted in total margins of $2.1M.
Looking ahead, Ward noted that while inflation has eased in 2025, high material costs and interest rates continue to impact operations. Kilowatt-hour sales are currently behind last year’s pace. To address rising wholesale power costs — budgeted at $2.25 million higher than 2024 — the Cooperative implemented a Power Cost Adjustment (PCA) in May. Even with the PCA, Adams Electric’s rates remain among the lowest in the region.
During her report, Board President Laura Meyer emphasized Adams Electric’s commitment to community. She highlighted safety initiatives, education programs, and renewable energy projects, including two wind turbines and a new solar project planned in Schuyler County supported by a federal grant.
The meeting also recognized community and youth programs:
- More than 40 members participated in the Co-op’s Advisory Committee in August, providing feedback on programs and projects.
- Local students Jamen Tchapda (Quincy Notre Dame) and Kodi Duke (Unity High School) represented Adams Electric in the Youth to Washington Tour. Jamen discussed the highlights of the tour with the members.
- Central High School graduate Garrett Neisen received the LaVern and Nola McEntire Memorial Lineworker’s Scholarship to attend lineworker school in Springfield.
- Through the Penny Power program, members contributed $712,207 in grant funding since its inception. This year’s cycle awarded $9,017 to 12 organizations, including The Quincy Museum, Brown County Schools, Cornerstone, and the Jackson-Lincoln Swimming Complex. During the meeting, Directors Rex Niekamp and Brent Clair presented the Adams County Fair Association with a $1,500 Penny Power grant.
“As a co-op, we’re different from other utilities and businesses. We were built by and belong to the communities we serve,” Meyer said. “Our roots help explain our cooperative difference. … Thanks for all you do to support co-op programs and, in turn, support the community.”
The following directors were reelected at the meeting: District 1 Director Eric Ewing, District 2 Director Brent Clair, and District 3 Director Laura Meyer.
Adams Electric Cooperative is a member of Touchstone Energy — an alliance of 700 local, consumer-owned electric utilities around the country. Adams Electric Cooperative is committed to providing superior service based on four core principles: integrity, accountability, innovation, and commitment to community. The co-op serves more than 9,000 meters over 2,269 miles of line in parts of Adams, Brown, Hancock, McDonough, Pike, and Schuyler counties. For more information visit adamselectric.coop.