CEO Report Item 10
CEO Report Item 10
TO: Ava Community Energy Board of Directors
FROM: Howard Chang, Chief Executive Officer
SUBJECT: CEO Report (Informational Item)
DATE: September 16, 2026
________________________________________________________________________ Recommendation
Accept Chief Executive Officer (CEO) report on update items below.
Executive Committee Meeting
An Executive Committee Meeting was held on Wednesday, September 2, 2026. Members received an update on Ava Charge. The meeting also included a closed session item. The closed session was continued at a Special Executive Committee meeting held on September 9, 2026. The next Executive Committee meeting will be held on Wednesday, October 7, 2026 at 3 pm.
Financial, Administrative and Procurement Subcommittee Meeting A Financial, Administrative and Procurement Subcommittee Meeting was held on Wednesday, September 9, 2026. Members received an update on the fiscal year ending June 30, 2026 audit process, an overview of working capital management, and a summary of a Renewable Energy Credit exchange transaction designed to enable prepayment savings. The next Financial, Administrative and Procurement meeting will be held on Wednesday, October 28, 2026 at 3 pm.
Alameda County Green Business Program Mixer
On July 16, 2026, Ava Community Energy hosted a mixer for the Alameda County Green Business Program, bringing together businesses from across Alameda County recognized for their sustainable operations. As a sponsor of the program, Ava is proud to support local businesses committed to sustainability. 40 members attended, representing a variety of small businesses throughout our service area, including cleaning service companies, local banks, and a flower shop.
CEO Report Item 10
Long Term Project Online Date Announcement
The following project under contract with Ava has reached commercial operations.
Aramis: The Aramis project is a 100 MW PV and 100 MW Storage Facility located within Ava’s service territory in Alameda County, California. Ava has a 10-year contract for 25 MW of Resource Adequacy (RA) from the project. The Aramis project is developed and operated by IPX Power. The Aramis facility achieved its Commercial Operation Date in early August 2026. Ava will receive Resource Adequacy from the Aramis facility starting on October 1, 2026, supporting compliance with Ava's 2027 Mid-Term Reliability obligations.
Energy Prepayment Financing Results
In June 2026, Ava’s Board of Directors authorized Ava to execute two new energy prepayment transactions, each authorized for a maximum bond principal amount of $1.25B. Ava closed both transactions in July, and the associated bonds ($2.19B in aggregate) have been issued through CCCFA.
Savings Impact: Together, the two transactions are expected to deliver $139.4M of cost savings to Ava across 8.68 TWh of energy procurements over the next ten years.
Tailwinds from favorable municipal debt market conditions helped deliver higher energy savings on a $/MWh basis than Ava’s five prior energy prepayment transactions. Per the table below, the $/MWh cost savings to Ava for the new 2 transactions (2026G: $14.32/MWh; 2026F: $17.27/MWh) will be 50-65% higher than the mean savings ($9.55/MWh) for Ava’s initial 5 prepayment transactions.
Key Transaction Terms
CCCFA 2026F CCCFA 2026G
Underwriter / Energy Supplier Morgan Stanley Goldman Sachs Closing Date 7/9/2026 7/30/2026
Initial Bond Principal Amount $1,242,870,000 $948,325,000 MWh Discounted until Refinancing
Date
5,100,624 3,579,630
$/MWh Savings to Ava $17.27 $14.32
$ Savings per Year $9.7M $7.0M
Total Savings to Ava prior to
Refinancing
$88.1M $51.3M
Bond Refinancing Date 6/1/2036 10/1/2034
CEO Report Item 10
Total Ava Prepayment Program Savings: Across its 7 prepayment transactions, Ava will now save over $30M per calendar year through 2032 at a blended average savings of $11.44/MWh across
29.6 TWh of energy procurements.
Looking Ahead: Ava will continue to evaluate its capacity to enter future energy prepay transactions. During the peak years of prepaid energy commitments within the transactions, Ava has 49% of its expected retail load committed to energy prepayments, leaving headroom for Ava to enter one or more future transactions while remaining comfortably below accepted tax guidance limitations of load-serving entity load encumbrances in prepayment transactions.
New Web Content
Ava regularly publishes educational content on our website to help customers understand the benefits of Ava, navigate their bills, and participate in our programs. Below is a complete list of Insights published in the past 3 months. For additional resources, visit AvaEnergy.org/insights.
Date Title Link Description
9/8/26 Powering
Community
Connections with
Mandela
Partners
https://avaenergy.org/insight/powering-community-connections-with-mandela-partners/ A story about our collaboration
with Mandela Partners, an Ava
Community Sponsorship
recipient that empowers local
entrepreneurs and creates
community connections.
9/2/26 New EV Driver
Checklist: 4
Things To Do in
the First Month of
EV Ownership
https://avaenergy.org/insight/new-ev-driver-checklist-4-things-to-do-in-the-first-month-of-ev-ownership A checklist of 4 simple ways
for residents to adjust to the
lifestyle of owning an EV.
8/17/26 Sequoia Grove
Construction
Update: Summer
2026
https://avaenergy.org/insight/sequoia-grove-construction-update-summer-2026/ An update on Habitat for
Humanity East Bay/Silicon
Valley’s Hayward
development, which is all-electric with funding from Ava. 8/12/26 Types of Electric
Vehicles: BEV
vs. HEV vs.
PHEV
https://avaenergy.org/insight/types-of-electric-vehicles-bev-vs-hybrid-vs-plug-in-hybrid/ Explains the differences, pros,
and cons of common types of
EVs to help customers
consider the best option for
them.
8/11/26 Health-e
Communities
Pilot: What Ava
Learned from
Replacing Gas
Ranges with
Induction in 162
Homes
https://avaenergy.org/insight/health-e-communities-pilot/ Pilot evaluation and final
report for the Health-e
Communities pilot, including
our air quality findings, key
challenges and learnings, and
customer experience.
7/6/26 Resource:
Electric Load
Forecasting
Across California
https://avaenergy.org/insight/resource-electric-load-forecasting-across-ca-regulatory-agencies-and-caiso/ A diagram for regulatory
industry professionals to help
explain the electric load
forecasting process.
CEO Report Item 10
Regulatory
Agencies and
CAISO
7/2/26 PSPS Events:
What They Are
and How To
Prepare
https://avaenergy.org/insight/psps-events-what-they-are-and-how-to-prepare/ Explanation of Public Safety
Power Shutoff (PSPS) events
with links to appropriate
resources (PG&E and 211) for
how to prepare and what to do
during a PSPS.
7/1/26 Battery Options
for Your Home
Solar System
https://avaenergy.org/insight/battery-options-for-your-home-solar-system/ Overview of different battery
system types and set-ups to
help customers take the first
step in installing a home
battery.
6/30/26 8 Energy
Efficiency Home
Improvement
Ideas
https://avaenergy.org/insight/8-energy-efficiency-home-improvement-ideas/ A list of energy efficiency
home improvements ranging
from small, inexpensive
changes to larger home
upgrades.
6/23/26 Ava and PG&E’s
Annual Rate
Comparison
Mailer
https://avaenergy.org/insight/ava-and-pges-annual-rate-comparison-mailer/ Explanation of annual
communication sent to all
eligible customers about their
service plan options.
Ava in the Community - September
To raise awareness of Ava’s service, support our community, and connect customers to our offerings, Ava sponsors and staffs events throughout our service territory all year long.
Additionally, we also deliver presentations to community groups. Below is a list of upcoming events we’ll be attending between 9/01 and 10/31. Learn more at https://avaenergy.org/about-ava/meetings-events/events/ Date Event Type Location
9/13/2026 Albany Solano Stroll Tabling and
Sponsoring Albany
9/18/2026 Lathrop Family Fun Night Tabling and
Sponsoring Lathrop
9/19/2026 Family Day at the Park Tabling and
Sponsoring Stockton
9/19/2026 Tracy Connects Tabling Tracy
9/20/2026 Newark Days Festival Tabling Newark
9/20/2026 Glad Tidings Resource Fair Tabling Hayward
CEO Report Item 10
9/22/2026 Lathrop Senior Resource
Fair Tabling Lathrop
9/27/2026 Piedmont Harvest Festival Tabling Piedmont
10/1/2026 Lathrop Country Breakfast Tabling Lathrop
10/3/2026 Science in the Park Tabling and
Sponsoring Hayward
10/3/2026 Emeryville Harvest Festival Tabling Emeryville 10/10/2026 Oakland Roots Season
Closer
Tabling and
Sponsoring Oakland
10/11/2026 E-Bike Test and Ride #2 Co-hosting Hayward
10/23/2026 Clements Stampede Sponsoring Unincorporated San Joaquin County
10/24/2026
Habitat for Humanity
Sequoia Grove Home
Celebration
Sponsoring Hayward
E-bike Test and Ride Event
On Saturday, June 27, Ava partnered with Bike East Bay to host our second E-Bike Test & Ride event. This free community event enabled more than 450 residents to experience e-bikes firsthand, learn how to ride safely, and connect with local bike shops and e-biking enthusiasts.
Many attendees applied for and/or received an Ava Bike Electric rebate, and the event helped them make informed decisions about which e-bike to buy.
The next E-Bike Test & Ride will be on Sunday, October 11, in the Hayward BART parking lot.
Here is a recap of the event and how it impacted the participants:
https://www.youtube.com/watch?v=yLuh8Pub_GU&t=1s
CEO Report Item 10