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Corn Belt Energy celebrates “The
Power of Us” and a $15 million capital credit retirement.
[June 06, 2026]
BLOOMINGTON, IL —
Approximately 853 cooperative members and their families attended
Corn Belt Energy Corporation’s 88th Annual Meeting, held at Normal
Community High School in the town of Normal this morning. The theme
for the meeting was “The Power of Us.”
Cooperative Board Chairman Rae F. Payne spoke on the growing
challenges facing the electric industry, including rising energy
demand, stress on the power grid, and concerns surrounding power
supply affordability and reliability. Payne emphasized that Corn
Belt Energy has been preparing for these challenges and remains
committed to being part of the solution while continuing to provide
safe, reliable, and affordable electricity to members.
Payne also highlighted the cooperative model’s strength and the
importance of members working together to ensure the cooperative’s
continued success. He announced the retirement of $15 million in
capital credits, to be returned to members later this summer, noting
that capital credits are among the many benefits of being part of a
member-owned cooperative.
President/CEO Don Taylor discussed the cooperative’s upcoming
transition to a Time-of-Use rate structure designed to align with
wholesale power costs and help members better manage energy use and
ideally lower monthly bills. He emphasized Corn Belt Energy’s
continued focus on reliability, innovation, affordability, and
providing safe, dependable service to members across Central and
Northern Illinois.
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Taylor also told the group he will
be retiring later this year and will work with the board and
incoming CEO to ensure a smooth transition. He assured the members
they are in very good hands with a dedicated Board of Directors and
an extremely capable employee team which is proud to serve them.
During the business meeting, the
following Directors were elected to serve three-year terms: Rae
Payne (District 1), Jerry Starkey (District 1), Dennis Fredrickson
(District 5), and Frank Kobilsek (District 7).
After the business meeting concluded, the Directors held a
reorganizational meeting. They elected Rae F. Payne as Chairman,
Dennis Fredrickson as Vice Chairman, Pete Borowski as
Secretary-Treasurer, and Jerry Starkey as Assistant
Secretary-Treasurer.
[Corn Belt
Energy]
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