Board of Directors of the
Clean Power Alliance of Southern California
Regular Meeting
Thursday, June 1, 2023
2:00 p.m.
Visit CPA’s YouTube Channel to view a Live Stream of the Meeting *There may be a streaming delay of up to 90 seconds. This is a view-only live stream.
CPA Office
801 S. Grand Ave., Suite 400
Los Angeles, CA 90017
Members of the public may also participate in this meeting at the following locations:
Calabasas City Hall
Council Conference Room
100 Civic Center Way
Calabasas, CA 91301
Ventura County Government Center
Channel Islands Conference Room, 4th Floor
Hall of Administration
800 South Victoria Avenue
Ventura, CA 93009
Whittier City Hall
Admin Conference Room
13230 Penn Street
Whittier, CA 90602
South Bay Cities Council of Governments
Conference Room
2355 Crenshaw Blvd., Suite 125
Torrance, CA 90501
PUBLIC COMMENT: Members of the public may submit their comments by one of the following options:
• Email Public Comment: Members of the public are encouraged to submit written comments on any agenda item to [email protected] up to four hours before the meeting. Written public comments will be announced at the meeting and become part of the meeting record. Public comments received in writing will not be read aloud at the meeting. • Provide Public Comment During the Meeting: The General Public Comment item is reserved for persons wishing to address the Board on any Clean Power Alliance-related matters not on today’s agenda. Public comments on matters on today’s Consent Agenda and Regular Agenda shall be heard at the time the matter is called. Comments on items on the Consent Agenda are consolidated into one public comment period. Members of the public who wish to address the Board at CPA’s Office are requested to complete a comment card and provide it to staff. If you are attending from a remote location, please identify yourself to a CPA representative when your item is called. Each speaker is limited to two (2) minutes (in whole-minute increments) per agenda item with a cumulative total of five 5 minutes to be allocated between the General Public Comment, the entire Consent Agenda, or individual items in the Regular Agenda. Please refer to Policy No. 8 – Public Comment for additional information.
NAVIGATING OUR AGENDA PACKETS: The meeting agenda packets are bookmarked PDFs, which display a list of agenda items to the left of the page and allow you to click to view specific items within the Agenda Page 1
packet. If viewing in your browser, click the "document outline" button in the upper left corner of the screen.
If the PDF is downloaded, the bookmark panel (ribbon icon) appears on the left side of the screen.
ACCESSIBILITY: Meetings are accessible to people with disabilities. Individuals who need special assistance or a disability-related modification or accommodation to participate in this meeting, or who have a disability and wish to request an alternative format for the meeting materials, should contact the Clerk of the Board at least two (2) working days before the meeting at [email protected] or (213) 713- 5995. Notification in advance of the meeting, while not required, will enable us to make reasonable arrangements to ensure accessibility to this meeting and the materials related to it.
CALL TO ORDER AND PLEDGE OF ALLEGIANCE
ROLL CALL
GENERAL PUBLIC COMMENT
CONSENT AGENDA
1. Approve Minutes from May 4, 2023 Board of Directors Meeting
2. Receive and File CY Q1 Risk Management Team Report
3. Receive and File CY Q1 Quarterly Communications Report
4. Receive and File FY Q3 Quarterly Financial Results
5. Receive and File Bill Positions Monthly Report
6. Receive and File Community Advisory Committee Monthly Report
REGULAR AGENDA
Action Items
7. Adopt Resolution No. 23-06-048 to Approve New Rates for Phase 1 & 2 Non-Residential Customers, Resolution No. 23-06-049 to Approve New Rates for Phase 3 & 5 Non-Residential Customers, Resolution No. 23-06-050 to Approve New Rates for Phase 4 & 5 Residential Customers, and Resolution No. 23-06-051 to Approve New Rates for All Phase 6 Customers
8. Approve Fiscal Year 2023/2024 Budget as Recommended by the Finance Committee
9. Adopt Resolution No. 23-06-052 Authorizing and Approving Entry into An Amendment to a Revolving Credit Agreement (“Credit Agreement”) with JPMorgan Chase Bank, N.A. (“JPM”), and Delegating Authority to CPA Authorized Representatives to Execute and Deliver Such Amendment and Other Documents Related Thereto
Information Items
10.Receive Presentation on Net Energy Metering 3.0 and Provide Feedback Agenda Page 2
MANAGEMENT REPORT
COMMITTEE CHAIR UPDATES
Director Deborah Klein Lopez, Chair, Legislative & Regulatory Committee Director Susan Santangelo, Chair, Finance Committee
Director Robert Parkhurst, Chair, Energy Planning & Resources Committee
BOARD MEMBER COMMENTS
REPORT FROM THE CHAIR
ADJOURN – NEXT REGULAR MEETING ON JULY 6, 2023
Public Records: Public records that relate to any item on the open session agenda for a regular Board Meeting are available for public inspection. Those records that are distributed less than 72 hours prior to the meeting are available for public inspection at the same time they are distributed to all, or a majority of, the members of the Board. Public records are available for inspection at CPA’s Office at 801 S. Grand Ave., Suite 400, Los Angeles, CA 90017, or online at www.cleanpoweralliance.org/agendas.
Agenda Page 3
Commonly Used Acronyms
BESS Battery Energy Storage System
CAC Community Advisory Committee
CAISO California Independent System Operator
CALCCA California Community Choice Association
CalEVIP California Electric Vehicle Incentive Program
CARB California Air Resources Board
CARE California Alternate Rates for Energy (Low Income Discount Rate) CCA Community Choice Aggregation
CEC California Energy Commission
CPUC California Public Utilities Commission
DA Direct Access (Private Retail Energy Supplier)
DAC Disadvantaged Community (As Defined by Calenviroscreen 3.0) DER Distributed Energy Resources
DR Demand Response
ERMP Energy Risk Management Policy
ERRA Energy Resource Recovery Account (SCE Generation Rate Setting)
ESA Energy Storage Agreement
EVSE Electric Vehicle Supply Equipment (EV Charger)
FERA Family Electric Rate Assistance (Low Income Discount Rate) GHG Greenhouse Gas
IOU Investor Owned Utility
IRP Integrated Resource Plan
JPA Joint Powers Authority
Agenda Page 4
Commonly Used Acronyms
Kwh Kilowatt-Hour (A Measure of Energy Used in A One-Hour Period) Kw Kilowatt = 1,000 Watts (Watt = A Measure of Instantaneous Power) LSE Load Serving Entity
MB Medical Baseline (Discount Rate for Medical Equipment Needs) MW Megawatt = 1,000 Kilowatts
Mwh Megawatt-Hour = 1,000 Kilowatt-Hours
NEM Net Energy Metering (Usually for Customers with Solar) OAT Other Applicable Tariffs
PCIA Power Charge Indifference Adjustment (Can Be Called “Exit Fee”) PCC1 Renewable Energy Generated Inside California
PCC2 Renewable Energy Generated Outside California
PCC3 A REC from A Renewable Resource, Delivered Without Energy PCL Power Content Label
POU Publicly Owned or Municipal Utility
PPA Power Purchase Agreement
PSPS Public Safety Power Shutoff
PV Photovoltaic (Solar) Panels
RA Resource Adequacy
REC Renewable Energy Credit
RPS Renewables Portfolio Standard
T&D Transmission and Distribution
TOU Time Of Use (Used to Refer to Rates that Differ by Time Of Day) WECC Western Electricity Coordinating Council
Agenda Page 5
Staff Report – Agenda Item 1
To: Board of Directors
Subject: Minutes from May 4, 2023 Board of Directors Meeting Date: June 1, 2023
RECOMMENDATION
Approve.
ATTACHMENT
1. May 4, 2023 Minutes
Agenda Page 6
Board of Directors Item 1
MINUTES
Board of Directors of the
Clean Power Alliance of Southern California
Regular Meeting
Thursday, May 4, 2023, 2:00 p.m.
Meeting videos are available on CPA's YouTube Channel.
http://www.youtube.com/@CPApublicmeetings
Board members participated from the following locations:
Calabasas City Hall
Council Conference Room
100 Civic Center Way
Calabasas, CA 91301
CPA Office
801 S. Grand Ave., Suite 400
Los Angeles, CA 90017
Whittier City Hall
Admin Conference Room
13230 Penn Street
Whittier, CA 90602
Ventura County Government Center
Channel Islands Conference Room, 4th Fl.
Hall of Administration
800 South Victoria Avenue
Venture, CA 93009
South Bay Cities Council of Governments
Conference Room
2355 Crenshaw Blvd., Suite 125
Torrance, CA 90501
JW Marriot Desert Springs
Director 2 Conference Room
74-855 Country Club Drive
Palm Desert, California
Claremont City Yard Building A
Front Conference Room
1616 Monte Vista Ave.
Claremont, CA 91711
CALL TO ORDER
Chair Julian Gold called the meeting to order at 2:00 p.m. and Gabriela Monzon, Clerk of the Board, conducted roll call.
PLEDGE OF ALLEGIANCE
Director Hicks led the pledge of allegiance.
Roll Call
1 Agoura Hills Deborah Klein Lopez Director Remote
2 Alhambra Jeff Maloney Director Present
3 Arcadia Michael Cao Director Remote
4 Beverly Hills Julian Gold Chair Present
5 Calabasas David Shapiro
Ed Albrecht
Director
Alternate Remote
6 Camarillo Susan Santangelo Director Remote
Agenda Page 7
Board of Directors Item 1
7 Carson Cedric L. Hicks, Sr. Director Present
8 Claremont Jeremy Swan Alternate Remote
9 Culver City Yasmine-Imani
McMorrin Alternate Remote
10 Downey Absent
11 Hawaiian Gardens Ramie L. Torres Alternate Remote
12 Hawthorne Alex Monteiro Director Remote
13 Hermosa Beach Doug Krauss Alternate Present
14 Los Angeles County Lindsey Horvath Vice Chair Present 15 Malibu Marianne Riggins Director Remote
16 Manhattan Beach Amy Howorth Director Remote
17 Moorpark Absent
18 Ojai Betsy Stix Director Remote
19 Oxnard Bert Perello Director Remote
20 Paramount Vilma Cuellar Stallings Director Remote
21 Redondo Beach Absent
22 Rolling Hills Estates Fred Zerunyan Alternate Remote 23 Santa Monica Gleam Davis Director Present
24 Santa Paula Jenny Crosswhite Director Remote
25 Sierra Madre Robert Parkhurst Director Present
26 Simi Valley Rocky Rhodes Director Remote
27 South Pasadena Diana Mahmud Alternate Present
28 Temple City Absent
29 Thousand Oaks David Newman Director Remote
30 City of Ventura Liz Campos Director Remote
31 Ventura County Vianey Lopez Vice Chair Remote
32 West Hollywood John Erickson
Chelsea Byers
Director
Alternate
Present
Remote
33 Westlake Village Absent
34 Whittier Leon Vasquez Alternate Remote
All votes are unanimous unless otherwise stated.
Agenda Page 8
Board of Directors Item 1
GENERAL PUBLIC COMMENT
There was no public comment.
CONSENT AGENDA
1. Approve Minutes from April 6, 2023, Board of Directors Meeting
2. Approve Appointments to the Community Advisory Committee
3. Authorize the Chief Executive Officer to Execute Task Order No. 5 with Ascend Analytics for 2023 Clean Energy and Reliability RFO Support Services for a Not-to-Exceed Amount of $172,500
4. Authorize CPA Staff to Submit an Extension Request to the California Energy Commission to meet its Load Management Standards Compliance Obligations
5. Approve An Amendment to the Professional Services Agreement with Langan Engineering and Environmental Services, Inc. for Software Development and Information Technology Consulting Services with a Total Not-To-Exceed Amount of $205,000
6. Receive and File Bill Positions Monthly Report
7. Receive and File Community Advisory Committee Monthly Report Motion: Director Hicks, Carson
Second: Vice Chair Horvath, Los Angeles County.
Vote: The consent agenda was approved by a roll call vote.
CLOSED SESSION
8. CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED LITIGATION Exposure to litigation pursuant to paragraph (2) or (3) of subdivision (d) of Section 54956.9: 1.
Nancy Whang, General Counsel, reported that no reportable action was taken.
REGULAR AGENDA
11. Election of Los Angeles County At-Large Position on the Executive Committee This Items was presented out of order of the agenda.
Director Maloney withdrew his candidacy for this election cycle, expressed his ongoing support for CPA and its mission, and noted his interest in serving on the Executive Committee in the future.
Los Angeles County Regular Directors unanimously elected Cedric L. Hicks, Sr., Carson, as an At-Large Executive Committee member, with a term ending June 30, 2024.
9. Approve a Rate Setting Approach for Fiscal Year 2023/2024:
(a) Set the CPA Product Price Differential Between 100% Green Power and Clean Power to 4% and the Differential Between 100% Green Power and Lean Power to 5%; (b) Select An Option Establishing a Consistent Total Bill Comparison Level for Residential and Small Business Rates Using SCE’s March 1, 2023 Rates:
I. Option 1 - Minimum Reserve Scenario: Target 100% Green Power Rates to Provide a 1% Discount with Clean Power at a 5% Discount and Lean Power at a 6% Discount;
Agenda Page 9
Board of Directors Item 1
II. Option 2 - Moderate Reserve Scenario: Target 100% Green Power Rates to Provide a 1% Premium with Clean Power at a 3%
Discount and Lean Power at a 4% Discount;
III. Option 3 - Midpoint Reserve Scenario (Recommended by Executive Committee): Target 100% Green Power Rates to
Provide a 3% Premium with Clean Power at a 1% Discount and Lean Power at a 2% Discount;
(c) Update Rates for Large Commercial, Pumping and Agriculture, and Streetlighting Customers Rate Classes to Reflect CPA’s Current Cost of Service (COS); (d) Set Total Bill Comparisons for Customers in the Cities of Hermosa Beach, Monrovia, and Santa Paula at the same Total Bill Comparison Levels as Customers of the Current Member Agencies
Matt Langer, Chief Operating Officer, provided a presentation on the FY 2023/24 rate setting approach. The April 2023 interim rate adjustment brought CPA closer to its fiscal goals for the current year, but progress toward CPA’s Reserve Policy targets has been slower than expected. Mr. Langer discussed considerations for the rate approach, including product and rate class pricing differentials, bill comparison levels, subset rates, and the approach for new communities enrolling in 2024. CPA’s most recent cost of service (COS) analysis showed a widening of the product price differential amongst CPA’s three rate products. Based on the most current COS, staff recommends setting the FY 23/24 price differential target between 100% Green and Clean to 4% and the differential target between 100% Green and Lean to 5%; and bill comparisons consistent across residential and small business rate classes. The three presented bill comparison options offer a range of potential outcomes for CPA’s competitiveness and financial and rate stability objectives. The minimum reserve option offers an approximately $160 million potential contribution to the net position, a 30% reserve target, 111 Days Liquidity on Hand (DLOH). The moderate reserve option offers an approximately $225 million potential contribution to the net position, a 35% reserve target, and 129 DLOH. Lastly, the midpoint reserve option, recommended by the Executive Committee, offers an approximately $290 million potential contribution to the net position, a 40% reserve target, and estimated 148 DLOH. Southern California Edison’s (SCE’s) June 2023 rate change is expected to slightly increase delivery charges and may increase SCE generation rates, potentially strengthening CPA’s competitive position compared to any of the options. Staff recommend updating subset rates to reflect the currently projected COS. Customers in Hermosa Beach, Monrovia, and Santa Paula will be placed on SCE’s 2023 vintage Power Charge Indifference Adjustment (PCIA) when CPA begins serving them in March 2024.
Total bill comparisons for customers of these new member communities are proposed to be at the same level as current CPA customers for at least the first year of service; finally, staff recommend that the Board delegate to staff the ability to adjust the rates for these new member communities, if needed, to support consistent comparisons as SCE rates change within FY 23/24.
Responding to Director Hicks’ question about SCE’s rate change, Mr. Langer noted that SCE is proposing to increase the June residential distribution rate by around 1%, which will affect all CPA customers. Director Hicks expressed concern about the impact on customer costs. Director Parkhurst asked several questions on 2024 procurement targets and regulatory requirements, summer electricity demands and reserves, and the effects of extreme weather on rate setting. Mr.
Langer clarified that CPA paid significant costs to procure both clean energy and Agenda Page 10
Board of Directors Item 1
resource adequacy and that these procurement costs are built into the rate options.
Regarding reserves, Mr. Bardacke clarified that the reserves and DLOH do not factor in extreme weather. Staff assumed a higher contingency level in forecasted costs as a result of the extreme weather and high energy prices experienced in late 2022 and early 2023. Director Klein Lopez shared that the Executive Committee recommended the midpoint reserve option due to its lower risk outcomes and close alignment with CPA’s historical target product price differentials. Vice Chair Horvath echoed Director Klein Lopez’s comments, adding that the midpoint reserve option allows for more long-term flexibility and brings CPA closer to achieving an investment grade credit rating, which will help lower customer costs over the longer-term.
Motion:
Second:
Vote:
Vice Chair Horvath, Los Angeles County
Director Mahmud, South Pasadena
Item 9, with support for Option 3, was approved by a roll call vote, with a no vote from Director Hicks.
10. Review Fiscal Year 2023/2024 Budget Priorities
Ted Bardacke, CEO, reviewed CPA’s 2023/24 operational priorities and provided operating expense context. CPA’s ability to impact rates in the short term through its operating expenses, which make up less than 4% of its total costs, is limited, but it can increase impact and reduce risk through investments. Budget operating expenses are set to increase by about 25% and are driven by investments in staffing and customer programs; as a whole other operating expenses will be flat or decline. Mr. Bardacke discussed customer programs and staffing budget priorities and projections, noting that there has been improvement in staffing turnover rates but that those rates among mid-level management are disproportionately high. The initial budget projects a 43% increase in staffing costs to a still industry-leading 1.3% of revenue in FY 23/24. CPA continues to compare favorably with other Community Choice Aggregations (CCAs) on operating expenses and staffing.
Director Mahmud inquired about the indirect expenses associated with not hiring new staff. Mr. Bardacke explained that expenses include potential burnout among remaining staff and that can lead to additional staff turnover, which in turn leads to increased recruitment and training costs. Responding to Director Parkhurst’s questions about compensation and the electrification advisor, Mr. Bardacke indicated CPA falls within the middle of the CCA compensation market and is able to attract other CCA employees, in part, due to its flexible remote work policy.
Regarding the electrification advisor, Mr. Bardacke explained that the electrification advisor will help CPA customers access the abundant state and federal resources currently available for electrification. Responding to Director Hicks’ questions about an intern program, Mr. Bardacke explained that CPA budgets for 2-4 paid interns and plans to launch a fellowship program that would provide a pathway to full-time employment. Director Perello inquired about the policy for staff promotions and merit increases. Dr. Monique Edwards-Greer, Chief Administrative Officer, shared that CPA conducts evaluations after 90 days of employment, has scheduled check-ins, and annual performance evaluations, all of which are documented using a performance management software called Lattice.
Clear documentation and progression opportunities for staff supports potential promotions and/or merit increases.
Agenda Page 11
Board of Directors Item 1
12. Presentation on Summer Reliability
Mr. Bardacke briefly discussed potential summer reliability challenges and the most effective means of communicating those challenges to customers.
Vice Chair Horvath emphasized the need for communication and coordination among staff and Board Members to address the potential reliability challenges.
MANAGEMENT REPORT
Mr. Bardacke reminded the Board of CPA’s fifth anniversary event on June 7, 2023. Mr.
Bardacke thanked all directors who solicited support for AB 1538 and advised the Board of another upcoming bill, AB 1373, that may pose a threat to CPA’s autonomy to set rates and procure power. Lastly, Mr. Bardacke indicated that staff are monitoring the income-based fixed charges proposal; while the bill may not impact CPA’s competitiveness, it will impact all electricity customers.
COMMITTEE CHAIR UPDATES
Director Susan Santangelo, Chair, Finance Committee, shared that the Finance Committee reviewed the operating expense budget and budget priorities.
Director Robert Parkhurst, Chair, Energy Planning & Resources Committee, indicated that the Energy Committee discussed new strategies and opportunities for both short-term and long-term procurement to maintain reliability and manage costs.
BOARD MEMBER COMMENTS
None.
REPORT FROM THE CHAIR
None.
ADJOURN
Chair Gold adjourned the meeting at 3:54 p.m.
Agenda Page 12
Staff Report – Agenda Item 2
To:
From:
Approved by:
Subject:
Date:
Board of Directors
Geoff Ihle, Director, Energy Market Risk Management
Ted Bardacke, Chief Executive Officer
David McNeil, Chief Financial Officer
Quarterly Risk Management Team Report
June 1, 2023
RECOMMENDATION
Receive and file.
ATTACHMENT
1. Q1 RMT Report
Agenda Page 13
Quarterly Report of Risk Management Team
January 1, 2023 through March 31, 2023 (Q1 2023)
I. Introduction
The Board of Directors of Clean Power Alliance (CPA) approved an Energy Risk Management Policy (ERMP) at its July 12, 2018 meeting, which provides the framework for conducting procurement activities in a manner that maximizes the probability of CPA meeting its portfolio, reliability, and financial goals. The ERMP was subsequently amended in July 2019, July 2020, July 2021, and July 2022.
The ERMP requires quarterly reporting to the Board on the activities, projected financial performance, and general market outlook facing CPA. The Risk Management Team (RMT)1 submits this report in accordance with this requirement. The RMT also reports on ERMP compliance monthly to both the Finance Committee and Energy Planning & Resources Committee.
II. Risk Management Team Activities
The RMT is responsible for implementing, maintaining, and overseeing compliance with the ERMP and for maintaining the Energy Risk Hedging Strategy. The primary goal of the RMT is to ensure that the procurement activities of CPA are executed within the guidelines of the ERMP and are consistent with Board directives. Several business practices are prescribed in the ERMP.
What follows is a summary of CPA’s compliance with these practices as outlined in the Policy.
A. ERMP Acknowledgement Form
It is the policy of CPA that all CPA Representatives participating in any activity or transaction within the scope of the ERMP shall sign on an annual basis or upon any revision, a statement acknowledging compliance with the ERMP. Execution of the ERMP Acknowledgement Form was completed by Board members, relevant CPA staff, and relevant consultants.
There are no existing or potential conflicts of interest to report. All business has been conducted consistent with applicable laws and regulations.
B. Transaction Types
The ERMP includes a list of approved transaction types. All products that have been purchased or sold by CPA during the current quarterly period represent an approved transaction type as listed in Appendix C of the ERMP.
1 The RMT is comprised of CPA’s Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, and Vice President of Power Supply.
Agenda Page 14
C. Counterparty Suitability
The ERMP requires that all counterparties with whom CPA transacts must be reviewed for creditworthiness and assigned a credit limit. A formal Counterparty Credit Protocol document that describes the method for evaluating counterparties and establishing a credit limit was developed by CPA’s Chief Financial Officer and CPA’s former scheduling coordinator, The Energy Authority (TEA). The Protocol was approved by the Chief Executive Officer, in consultation with the RMT, and enacted in Q1 2019.
Pursuant to the ERMP, no counterparty credit limit may exceed $50 million. CPA continues to manage counterparty credit exposures through margining and other credit enhancement requests where contractually permitted. During the quarter, one counterparty exceeded its credit limit.
D. System of Record
As required by the ERMP, all transactions are being stored both in CPA’s systems as well as in CPA’s Scheduling Coordinator’s (currently Tenaska Power Services, or TPS) trading and risk management system. Similarly, all transaction approvals are being logged and stored on TPS’s servers, with information being made available to CPA staff via a secure web portal. The transaction record also includes the confirmation letters for each transaction. CPA is in the process of transitioning its transaction repository to an internal data warehouse, which will provide additional functionality and security features.
E. Position Tracking and Management Reporting
To manage risk, the ERMP requires the regular production of various reports. The status of each report required by policy follows:
• Financial Model Forecast: The financial model captures projected revenues and energy and operating costs and produces various financial reports and forecasts on an accrual basis. The model uses load forecast data produced by CPA, energy contract details from CPA’s Front Office and Middle Office systems, revenue projections from CPA’s revenue model and forward prices from the ICE Data Service and TPS. • Net Position Report: Short- and long-term net position reports are in production, managed directly by CPA procurement staff, and linked to TPS’s trade capture system or to CPA’s internal energy trading and risk management system (ETRM), currently in development.
The short-term net position report updates daily and incorporates the current weather outlook for the next 60 days to show net positions for the current and next months. The long-term net position report assumes normal weather and shows net positions through the balance of the current year and prompt four years.
• Counterparty Credit Exposure: CPA is adhering to the credit policies included in the ERMP, with the above-mentioned market price-induced exceedances being managed by the RMT. CPA receives daily updates of counterparty credit exposures on both a notional and mark-to-market basis.
• Monthly Risk Analysis: The ERMP requires both stress testing of financial results, as well as probability-based assessments of future financial projections. CPA continues to implement and improve risk analysis tools to stress test financial results and validate potential hedging transactions. Recurring monthly risk analysis focuses on the prompt 12 months, while specific studies extend through calendar 2024. • Quarterly Board Report: Subject of this report.
Agenda Page 15
F. Delegation of Authority
All executed transactions during the current period have been approved consistent with the Delegation of Authority outlined in Section 5 of the ERMP.
G. Limit and Other Compliance Violations
The ERMP requires that transaction volumes should not be executed that exceed the requirements of meeting CPA’s load (energy and capacity), renewable and/or carbon free energy requirements. The ERMP designates specific hedge targets for the prompt-year (PY) through the prompt plus 4-years for different product types.
RMT reviewed the relevant hedge targets for 2023 and beyond and identified the following policy deviations:
Policy Deviation Required Action
Energy: As of March 27, 2023, Q1 2024 was
hedged at 84%, one percent less than the
ERMP minimum.
None. CPA cured the deviation by
purchasing additional Q1 2024 energy
hedges in April 2023.
Carbon Free Energy (CF): As of December 1,
2022, carbon free energy under contract for
2023 was above the ERMP maximum of
100%.
None. As previously reported, due to
scarcity of carbon free energy, CPA
procured additional supply in advance to
ensure it meets its energy product content
targets.
Resource Adequacy (RA): As of December 1,
2022, July, August and September 2023 RA
under contract was below the ERMP minimum
of 90%.
CPA has cured the July 2023 deviation. CPA
is running solicitations to buy August and
September 2023 RA.
H. Training
The ERMP acknowledges the importance of ongoing education as part of its risk management framework. Consistent with this, the ERMP outlines certain training requirements. All procurement and risk management staff, including the members of the RMT, were up to date on required training.
I. Hedging Strategy
With the exception of the deviations described in Section G, CPA is compliant with the hedging strategy provided in Appendix A of the ERMP.
J. Financial Performance
Agenda Page 16
CPA recorded net energy revenue (electricity revenue less cost of energy) of -$9 million in Q3 FY 2022-23. The results were above the amended budget and reflected the impact of unusually high natural gas prices in January 2023.
III. General Market Conditions
Pricing in Q1 2023 reflected winter and spring temperature and load conditions, as well as elevated natural gas prices in January 2023. January 2023 wholesale electricity prices were significantly higher than historical averages and significantly higher than energy market forward prices used to set CPA 2022/2023 rates and budget. Retail electricity consumption was generally in line with the forecast in Q1 2023.
Agenda Page 17
Staff Report – Agenda Item 3
To: Board of Directors
From: Cara Rene, Director, Communications & Marketing
Approved by: Ted Bardacke, Chief Executive Officer
Subject: Quarterly Communications Report (February – April 2023) Date: June 1, 2023
RECOMMEND
Receive and file.
ATTACHMENT
1. Quarterly Communications Report Presentation
Agenda Page 18
Communications & Marketing
Community Engagement
Quarterly Update
February – April 2023
Plus, a look ahead!
Agenda Page 19
What we’re excited about
Participated in 14 community events in April to celebrate Earth Day and engage with customers
Received the mid-year reports from our Community Benefits Grantees, highlighting the impactful work they’ve been doing in CPA communities Released the 2022 Impact Report to showcase CPA’s leadership. The online version was a Top 4 most viewed webpage in April
Since May 2022, grew CPA’s Twitter impressions from 120,000 to 1.24 million impressions per month
Since May 2022, grew CPA’s LinkedIn page from 3,346 to 9,726 followers Launched the Power Response Program webpage featuring enrollment content for all four customer participation pathways
Began creative development and media planning for CPA’s first brand awareness campaign
2 Agenda Page 20
Brand Campaign: Creative
CPA developed its first brand campaign that demonstrates how Clean Power Alliance is part of our customers’ everyday life. Brand messages will appear on billboards, buses, bus shelters, the Metro line and on several radio stations in English and Spanish.
• Bus Shelters • Billboards • Metro Line • Bus Tails
Agenda Page 21
Brand Campaign: Reach
CPA’s brand campaign will reach across Los Angeles and Ventura Counties with a combination of paid media, an event booth refresh, and collateral. The objective is to grow awareness of CPA and educate customers about the benefits of clean power in their homes and communities.
1.2+ Million
Weekly Impressions
Billboards in both Los Angeles and Ventura Counties
In English and Spanish
Radio in both Los Angeles and Ventura Counties
In English and Spanish
MEDIUM TYPE AUDIENCE REACH
Metro Rail in Los Angeles County
DURATION
Start: June 5
Four weeks
Bus and Bus Shelters in Los Angeles County
2.7+ Million
Weekly Impressions
Three weeks
New CPA booth experience for Los Angeles and
Ventura County
600,000+
Weekly Impressions
Four weeks
460,000+
Weekly Impressions Four weeks
1,000+ Year-round
Agenda Page 22
Power Response Campaign
CPA will launch the Power Response Program marketing campaign in three languages to reach residential, multifamily property, business, and public sector customers. The objective is to enroll and educate customers in the demand response program.
Billboards in both Los Angeles and Ventura Counties
English, and Spanish
MEDIUM TYPE
Radio in both Los Angels and Ventura Counties
English, Mandarin, and Spanish
Bus and Bus Shelters in Los Angeles and Ventura Counties English, and Spanish
Electric vehicle charging billboards
English
Monthly targeted customer emails
English, Simplified Chinese, and Spanish
Digital Media: Facebook, Instagram, Banners, SEM
English, Simplified Chinese and Spanish
Agenda Page 23
Community Engagement
6 Staying active in LA and Ventura Counties
7 presentations with key stakeholders
including city councils, state elected
officials, community organizations and
neighborhood groups.
15 community events at street fairs,
climate awareness events, and
community celebrations allowed CPA
staff and CAC members to increase
education about CPA.
13 meetings with business associations
to share program participation and
relevant contracting opportunities.
3 onboarding meetings with Hermosa
Beach, Monrovia and Santa Paula to
begin preparing for service in 2024
Community Benefits Grant
Met with all 10 of the Community Benefits
Grant recipients to coordinate on grant
funds and key activities for 2023
Agenda Page 24
7 .
Grantees submitted mid-year reports
on their progress. Key activities include:
ActiveSGV- Electric bike outreach at over 24
community events and meetings
CFROG - Tracked County Climate Action Plan
(CAP) implementation and youth lead policy
options for the City of Camarillo to consider in
their CAP
Merito Foundation - Worked with teachers to
assist close to 1,000 students in conducting
school and classroom audits for water and
electricity
Pando Populus – Increased enrollment in the
program by 27% as a result of CPA funding.
Students worked on projects to meet the goals
of LA County’s sustainability plan
City of STEM – Launched the Innovation
Challenge which attracted 22,000 attendees and
engaged student teams from throughout LA
Community Benefits Grant County.
The 2023 grant cycle opens August 2023
Agenda Page 25
Earth Day is now…Earth Month
8 14 Earth Day Events in April
Engaged with the public in the
communities of Carson, Calabasas,
Claremont, Downey, Hawthorne,
Hermosa Beach, Oxnard,
Paramount, Rolling Hills Estates,
Sierra Madre, South Pasadena,
Thousand Oaks, and Los Angeles
and Ventura Counties
.
CPA was very visible during Earth Month and interacted
with thousands of community members during April
Agenda Page 26
Growing visibility and thought leadership
continues for CPA
9 CPA is leveraging CEO Ted Bardacke’s expertise and
leadership to increase the organization’s voice and
position in the conversation about California’s clean
energy transition:
- Ted’s bimonthly column ‘Our Clean Energy Future’
launched in February providing vision and easy to
understand context on complex issues. The February
column was the best performing post on Twitter and
LinkedIn between February and April
- Ted was a featured guest on the Eco-Logic Podcast
in May, which is streamed on Apple and Spotify
- CPA recorded a video of Ted’s insights from the
CalCCA annual conference to be shared through the
monthly newsletter and social media.
Agenda Page 27
Social Media Highlights
TWITTER INSTAGRAM FACEBOOK
Our Twitter page attracted
1,528 new followers and
averaged 1.63 million
impressions per month.
Content averaged 17 likes
per day
Best performing post:
“Our Clean Energy Future”
column by Ted Bardacke
which had 1,980
impressions
Our Facebook page
reached 152,102
users with 939
individual page visits
and 39,581 accounts
reached in paid
impressions
Best performing post:
Time of Use energy
saving tips video,
which reached 9,280
accounts and had 24
engagements
Our Instagram page
reached 313,000
accounts, a 21%
increase.
Added 57 new
followers
Best performing post:
2022 Impact Report
release with 86, 697
views and 115,925
impressions
Thank you for sharing CPA’s messages through your social media channels!
LINKEDIN
Our LinkedIn page had
4,320 individual page
views, in addition to
1,871 unique visitors.
Added 1,952 new
LinkedIn followers
Best performing post:
“Our Clean Energy
Future” column by Ted
Bardacke received 69,357
impressions, 1,379 views
and 28 engagements
Agenda Page 28
Website Performance
The website had fewer users compared to the same timeframe in 2022 when CPA had an active paid media and email campaign to enroll customers in the Power Share Program. Although traffic was lower during this period, bounce rates have dropped significantly as a result of faster website load times.
Agenda Page 29
Earned Media Highlights
12 High-performing media
outreach included:
CPA Celebrates Fifth
Anniversary of Serving Southern
California Residents: 83
mentions; potential audience
reach of 61.5 M
CPA Board Welcomes Leaders
Joining Effort to Create Clean
Energy Future: 89 mentions;
potential audience reach of
over 60 M
During February through April, Clean Power Alliance distributed five news releases garnering a total of $9.3 million in earned media value. Sentiment remained positive. Web news aggregator Yahoo! News continues to be a key driver of large-scale potential audience reach.
Media Potential
Reach
Earned Value Exposure
Mentions
Print/Online 1004.09M (1B) 9.29M 1.57k
Broadcast 395.40k 3.66k 445
Agenda Page 30
A look ahead
Celebrating CPA’s fifth anniversary in June
Providing partner communities with summer readiness
communications toolkits, including messages and graphics in three languages
Launching CPA’s first brand campaign in June to elevate awareness through billboards, bus shelters, buses, the Metro line, radio and an enhanced community event booth experience
Preparing communications and outreach for communities changing their preferred energy options in fall 2023
Agenda Page 31
Staff Report – Agenda Item 4
To: Board of Directors
From: David McNeil, Chief Financial Officer
Approved by: Ted Bardacke, Chief Executive Officer
Subject: Quarterly Financial Report
Date: June 1, 2023
RECOMMENDATION
Receive and file.
ATTACHMENT
1. Q2 Financial Report
Agenda Page 32
CUSTOMERS
Summary of Financial Results
Definitions:
Accounts: Active Accounts represents customer accounts of active customers served by CPA per Calpine Invoice.
Participation Rate %: Participation Rate represents active accounts divided by eligible CPA accounts YTD Sales Volume: Year-to-date sales volume represents the amount of energy (in gigawatt hours) sold to retail customers Revenues: Retail energy sales less allowance for doubtful accounts Cost of energy: Cost of energy includes direct costs incurred to serve CPA’s load Operating expenses: Operating expenditures include general, administrative, consulting, payroll and other costs required to fund operations Net operating inco76me, also known as earnings before interest, depreciation and amortization (EBIDA), represents the difference between revenues and expenditures before depreciation expense, interest income and expense, and capital expenditures Cash and Cash Equivalents: Includes cash held as bank deposits.
Year to date (YTD): Represents the fiscal period beginning July 1, 2022 YTD
Mar
2023
Financial Dashboard
Note: Numbers may not sum up due to rounding.
Active Accounts
1,004,523
Participation Rate
93.1%
YTD Sales Volume
8,535 GWh
Mar Sales Volume
838 GWh
21 20 5 9 21
0 -12 -14 -9
$129
-100
0 100
200
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Revenue Less Energy Cost
Actual Budget
0 20
40 60
80 100
120
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
M…
Jun
Cash & Cash Equivalents
Unrestricted Restricted
in $000,000's Actual Budget Variance % Actual Budget Variance % Operating Revenues 79.9 76.7 3.2 4% 849.6 846.0 3.7 0%
Cost of Energy 75.0 68.3 6.8 10% 859.1 854.3 4.8 1%
Revenues Less Energy Cost 4.9 8.5 -3.6 -42% -9.4 -8.3 -1.1 13% Operating Expenses 3.0 3.7 -0.7 -20% 25.2 33.9 -8.6 -26% Operating Income 1.9 4.7 -2.8 -60% -34.6 -42.2 7.6 -18% Mar Year-to-Date
118
250
378 451 526
609
693
770
850
1186
0 200
400
600
800
1000
1200
1400
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
in 000,000's
Operating Revenue
Actual Budget
In March 2023 CPA recorded an operating gain of $1.9 million, $2.8 million less than a budgeted operating gain of $4.7 million as provided for in the FY 2022/23 Amended Budget. March results were negatively impacted by customer electricity use that was 2.5% higher than forecast and higher wholesale market prices than assumed in the budget.
CPA recorded a loss of $17.8 million in the 3rd quarter and a fiscal year-to-date (YTD) loss of $34.6 million, which was $7.6 million less than the budgeted operating loss of $42.2 million. Financial results were negatively impacted by the September 2023 heat wave, gas and energy price shocks beginning in December 2022, higher than budgeted renewable energy costs, prior period costs that were recorded in the current fiscal year, and an expected by yet to be assessed RA compliance penalty. Operating costs were 26% below budget for the YTD primarily as a result of lower spending on general administrative and other service costs and the non-utilization of contingencies.
As of March 31, 2023, CPA had $95.1 million in unrestricted cash and cash equivalents and $79.853 million available on its bank line of credit.
CPA is in sound financial health and in compliance with its bank and other credit covenants. CPA remains on track to contribute $84 million to the net position in FY 2022/23 consistent with the FY 2022/23 Amended Budget.
Agenda Page 33
2023 2022
Current assets
Cash and cash equivalents $ 95,125,602 $ 85,085,627
Accounts receivable, net of allowance 102,442,948 94,222,512 Accrued revenue 44,010,961 35,819,365
Other receivables 3,624,420 2,835,722
Prepaid expenses 5,120,347 2,111,968
Deposits 19,709,451 11,064,754
Restricted cash 2,400,000 3,600,000
Total current assets 272,433,729 234,739,948
Noncurrent assets
Capital assets, net of depreciation 598,926 645,437
Intangible - right-to-use lease asset 2,297,470 2,680,378 Deposits 88,875 88,875
Total noncurrent assets 2,985,271 3,414,691
Total assets $ 275,419,000 $ 238,154,639
Current liabilities
Accounts payable $ 5,243,787 $ 4,975,049
Accrued cost of electricity 140,562,061 82,199,576
Other accrued liabilities 4,440,480 2,983,879
User taxes and energy surcharges due to other governments 7,837,616 5,996,396 Loans payable to County of Los Angeles - 20,000,000
Security deposits from energy suppliers 299,700 1,087,150 Unearned program funds 3,979,199 3,028,735
Lease liability, current 397,303 295,759
Total current liabilities 162,760,147 123,316,544
Noncurrent liabilities
Supplier security deposits 3,149,860 6,904,000
Lease liability, noncurrent 2,360,341 2,757,643
Total noncurrent liabilities 5,510,201 9,661,643
Total liabilities $ 168,270,348 $ 132,978,188
Investment in capital assets $ 138,753 $ 272,412
Restricted for collateral 2,400,000 3,600,000
Unrestricted 104,609,900 101,304,039
Total net position $ 107,148,653 $ 105,176,451
NET POSITION
AS OF MARCH 31, 2023 AND 2022
STATEMENT OF NET POSITION
CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA
ASSETS
LIABILITIES
Agenda Page 34
2023 2022
OPERATING REVENUES
Electricity sales, net $ 848,032,202 $ 656,153,817
Other revenue 1,614,413 718,014
Total operating revenues 849,646,615 656,871,831
OPERATING EXPENSES
Cost of electricity 859,076,843 604,861,713
Contract services 13,785,029 13,068,850
Staff compensation 9,657,249 6,245,107
General and administration 1,775,827 1,278,669
Total operating expenses 884,294,948 625,454,339
Operating income (loss) (34,648,333) 31,417,492
NONOPERATING REVENUES (EXPENSES)
Interest income 1,071,529 35,091
Interest and related expenses (475,641) (483,917)
Interest expense - lease (52,131) -
Total nonoperating revenues (expenses) 543,757 (448,825) CHANGE IN NET POSITION (34,104,575) 30,968,667
Net position at beginning of period 141,253,228 74,207,784 Net position at end of period $ 107,148,653 $ 105,176,451 FOR YEARS ENDED MARCH 31, 2023 AND 2022
AND CHANGES IN NET POSITION
STATEMENT OF REVENUES, EXPENSES
CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA
Agenda Page 35
2023 2022
RECONCILIATION OF OPERATING INCOME TO NET
CASH PROVIDED (USED) BY OPERATING ACTIVITIES
Net operating income (loss) $ (34,648,333) $ 31,417,492 Adjustments to reconcile operating income to net
cash provided (used) by operating activities
Depreciation expense 165,456 104,990
Amortization expense 287,181 287,181
Revenue adjusted for allowance for uncollectible accounts 13,850,740 14,361,784 (Increase) decrease in:
Accounts receivable (19,722,917) (20,360,396)
Other receivables 4,035,045 (422,670)
Accrued revenue 11,485,830 20,079,699
Prepaid expenses 1,018,057 2,076,236
Deposits 6,406,079 2,262,088
Increase (decrease) in:
Accounts payable 717,473 190,902
Energy market settlements payable (8,815,110) (3,513,911) Accrued cost of electricity 65,747,964 (2,444,846)
Other accrued liabilities 2,041,593 946,384
User taxes due to other governments 1,811,258 667,297
Supplier security deposits (4,467,940) (42,471,250)
Unearned program funds 475,166 1,430,749
Counterparty collateral deposit - 2,750,000
Net cash provided (used) by operating activities 40,387,543 7,361,729
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES
Loan proceeds 95,000,000 30,000,000
Principal payments on loan (95,000,000) (10,000,000)
Interest and related expense payments (480,333) (267,013) Net cash provided (used) by non-capital
financing activities (480,333) 19,732,987
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Payments to acquire capital assets (90,125) (260,514)
Payments on lease (for both principal and interest) (300,684) 9,366 Net cash provided (used) by capital and related financing activities (390,809) (251,148)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest income received 1,071,529 35,091
Net cash provided (used) by investing activities 1,071,529 35,091 Net change in cash and cash equivalents 40,587,930 26,878,659 Cash and cash equivalents at beginning of period 56,937,672 61,806,968 Cash and cash equivalents at end of period $ 97,525,602 $ 88,685,627 Reconciliation to the Statement of Net Position
Cash and cash equivalents (unrestricted) $ 95,125,602 $ 85,085,627 Restricted cash 2,400,000 3,600,000
Cash and cash equivalents $ 97,525,602 $ 88,685,627
FOR YEARS ENDED MARCH 31, 2023 AND 2022
STATEMENT OF CASH FLOWS
CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA
Agenda Page 36
2022/23 YTD
Amended Budget
2022/23 YTD
Actual
2022/23 YTD
Budget Variance
(Under) Over
2022/23 YTD
Actual /
Budget %
2022/23
Amended
Budget
2022/23
Remaining
Budget
2022/23
Remaining
Budget %
Operating revenues
Revenue - electricity, net $ 844,059,431 $ 848,032,202 $ 3,972,771 100% 1,182,869,000 $ $ 334,836,798 28% Other revenues 1,910,268 1,614,413 (295,855) 85% 2,742,000 1,127,587 41% Total operating revenues 845,969,699 849,646,615 3,676,916 100% 1,185,611,000 335,964,385 28% Energy costs
Energy procurement 859,076,843 854,309,942 4,766,901 101% 1,056,282,000 197,205,157 19% Total energy costs 854,309,942 859,076,843 4,766,901 101% 1,056,282,000 197,205,157 19% Operating revenues less energy costs (8,340,243) (9,430,228) (1,089,985) 113% 129,329,000 138,759,228 107% Operating Expenditures
Staffing 10,303,370 9,657,249 (646,121) 94% 13,976,000 4,318,751 31% Technical services 1,137,050 896,062 (240,988) 79% 1,436,000 539,938 38% Legal services 1,037,450 442,428 (595,022) 43% 1,243,000 800,572 64% Other professional services 1,559,735 597,926 (961,809) 38% 1,902,000 1,304,074 69% Communications and outreach 1,510,995 680,666 (830,328) 45% 2,018,000 1,337,333 66% Mailers 1,171,441 581,106 (590,335) 50% 1,346,000 764,894 57% Billing data manager 7,867,868 7,851,637 (16,231) 100% 10,518,000 2,666,363 25% SCE services 1,586,995 1,440,000 (146,995) 91% 2,116,000 676,000 32% Customer programs 3,308,450 1,295,203 (2,013,247) 39% 4,663,000 3,367,797 72% General and administrations 4,384,073 1,775,827 (2,608,246) 41% 5,877,000 4,101,173 70% Total operating expenditures 33,867,426 25,218,105 (8,649,321) 74% 45,095,000 19,876,895 44% Operating income (42,207,669) (34,648,333) 7,559,336 82% 84,234,000 118,882,333 141%Non-operating revenues (expenditures)Interest income 364,500 1,071,529 707,029 294% 486,000 (585,529) -120% Finance and interest expense (554,393) (527,772) 26,622 95% (732,000) (204,228) 28% Total non-operating revenues (expenditures) (189,893) 543,757 733,651 -286% (246,000) (789,757) Change in net position (34,104,576) (42,397,563) 8,292,987 83,988,000 118,092,576 141% Other uses Capital outlay 168,750 90,125 (78,625) 53% 225,000 134,875 60% Depreciation and Amortization (467,580) (452,637) 14,943 97% (622,000) (169,363) 27% Total other uses (298,830) (362,513) (63,683) 121% (397,000) (34,487) 9% Change in fund balance $ (33,742,063) (42,098,733) $ 8,356,670 $ 80% 84,385,000 $ 118,127,063 $
CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA
BUDGETARY COMPARISON SCHEDULE
FOR YEAR ENDED MARCH 31, 2023
Agenda Page 37
Note MarͲ22 JunͲ22 SepͲ22 DecͲ22 MarͲ23
1 Working Capital 111,423,404 147,468,653 180,312,395 126,977,470 109,673,582 2 Current Ratio 1.9 2.5 1.8 1.8 1.7
3 Days Sales Outstanding 39 41 38 34 33
4 Equity 105,176,451 141,253,228 137,907,020 124,519,649 107,148,653 5 Equity to Assets % 44% 56% 34% 44% 39%
6 Available Cash 85,085,627 54,537,672 98,830,346 49,457,464 95,125,602 7 Available Line of Credit 79,853,000 79,853,000 39,853,000 79,853,000 79,853,0008 Total Liquidity 164,938,627 134,390,672 138,683,346 129,310,464 174,978,602 9 Days Liquidity on Hand (TTM) 75 61 57 49 60
10 Gross Margin 8% 11% 1% Ͳ0.1% Ͳ1%
11 Net Margin 5% 8% Ͳ1% Ͳ3% Ͳ4%
Percentage Change from Prior Quarter
Working Capital 3% 32% 22% Ͳ30% Ͳ14%
Current Ratio 6% 29% Ͳ26% 0% Ͳ8%Days Sales Outstanding 1% 3% Ͳ8% Ͳ9% Ͳ4%Equity 4% 34% Ͳ2% Ͳ10% Ͳ14%Equity to Assets % 6% 27% Ͳ39% 28% Ͳ11%Available Cash 26% Ͳ36% 81% Ͳ50% 92%Available Line of Credit 0% 0% Ͳ50% 100% 0%Total Liquidity 12% Ͳ19% 3% Ͳ7% 35%Days Liquidity on Hand (TTM) 11% Ͳ18% Ͳ7% Ͳ14% 24% Note Description Note Description
1 Current Assets less Current Liabilities 7 Total Line of Credit less Borrowing and Letters of Credit 2 Current Assets divided by Current Liabilities 8 Sum of Available Cash and Line of Credit 3 Accounts receivable divided by Sales divided by 365 9 Total Liquidity divided by trailing 12 month expenses divided by 365 4 Net Position plus Fiscal Stabilization Fund 10 Operating revenue less energy cost divided by operating revenue 5 Equity (Net Position + FSF) divided by Total Assets 11 Change in net position divided by operating revenue 6 Unrestricted cash and cash equivalents
Select Financial Indicators
Ͳ
50 100150200
MarͲ22 JunͲ22 SepͲ22 DecͲ22 MarͲ23
Millions ($)
Fiscal Quarter
Financial Indicators
Working Capital Equity Total Liquidity
Agenda Page 38
Staff Report – Agenda Item 5
To: Board of Directors
From: Gina Goodhill, Senior Director, Government Affairs Approved By: Ted Bardacke, Chief Executive Officer
Subject: Monthly Bill Position Tracker
Date: June 1, 2023
RECOMMENDATION
Receive and file.
ATTACHMENTS
1. Bill Positions Tracker
2. 2023 Legislative & Regulatory Policy Platform
Agenda Page 39
Bill Number &
Author
Title & Summary Status CPA
Position
Alignment
with CPA
Policy
Platform
Notes
AB 3
Assemblymember
Rick Chavez Zbur
California Offshore Wind
Advancement Act: Would
develop a strategy for seaport
readiness for offshore wind energy
developments, and study the
feasibility of achieving 70% and
85% in-state assembly and
manufacturing of offshore wind
energy projects
Pending
Senate
Committee
referral
Support 2f; 5c
SB 507
Senator Lena
Gonzalez
Electric vehicle charging station
infrastructure: assessments
Would require the California
Energy Commission (CEC) to
quantify EV charging infrastructure
needed to support the state’s 2035
electric vehicle goals, including in
disadvantaged communities and
between different types of
housing. If infrastructure is not on
track to meet state goals and is
disproportionately distributed, the
CEC must develop solutions.
Amended
4/17/2023
Senate
Appropriations
Committee-Suspense File
Held in
Committee
Support 3b; 5d
AB 1373
Assemblymember
Eduardo Garcia
Energy
Would make significant policy
changes to electricity market
structure and regulation as
proposed by the Newsom
Administration’s 2023 budget
energy trailer bill, including the
creation of a central procurement
entity (CPE) run by either the
Department of Water Resources
(DWR) or IOUs; capacity
payments for load-serving entities
(LSEs) that are deficient in their
reliability obligations and that used
Amended
5/22/2023
In Assembly
Floor Process
Neutral 1b; 1d; 2a; 2d This bill was amended to remove the direct threats to CCAs autonomy,
including limiting the Central
Procurement Entity to the Department
of Water Resources for large-scale
offshore wind and specified geothermal;
removing duplicate capacity payments;
and eliminating new CPUC oversight
authority over CCAs.
Agenda Page 40
DWR’s Strategic Reliability
Reserve (SRR) to meet their
reliability needs; and expanded
CPUC oversight and enforcement
of CCAs integrated resource
plans.
AB 1538
Assemblymember
Al Muratsuchi
Clean Energy Reliability
Program
Would create an incentive
program for load-serving entities
that procure clean energy capacity
above their minimum CPUC
requirements in order to enhance
electricity system reliability and
reduce customer costs.
Amended
4/17/2023
Assembly
Appropriations
Committee-Suspense File
Held in
Committee
SPONS
OR
2a; 2d; 5a;
5c;
This is CPA’s top legislative priority.
CPA will explore opportunities to
advance this concept in 2024.
Agenda Page 41
2023 Legislative and Regulatory Policy Platform
Overview and Purpose
The Clean Power Alliance (CPA) Legislative and Regulatory Policy Platform (Platform) serves as a guide to the CPA Board of Directors and CPA staff in their advocacy efforts and engagement on policy matters of interest to CPA. The Platform allows both members of the CPA Board of Directors and CPA staff to pursue actions at the regional, state and federal legislative and regulatory levels in a consistent manner and with the understanding that they are pursuing actions in the best interest of the organization and its mission, its member agencies, and its customers.
The Platform provides direction to CPA staff on positions that should be taken on regulatory matters and legislative bill proposals. The Platform also provides guidance to the Chief Executive Officer on positions that should be taken on legislative and regulatory matters that come before the California Community Choice Association (CalCCA) Board of Directors.
CPA staff report to the Board monthly on all positions taken on legislative bills. For bills that fall outside the scope of this platform, bills that are likely to attract high-profile supporters and detractors, bills that would raise taxes, or bills that would knowingly put CPA at odds with positions that its member agencies have taken, CPA staff will seek approval of a proposed position to the Legislative & Regulatory Committee and Board of Directors before taking a position.
Policy Principles
The Legislative and Regulatory Policy Platform is centered around five basic principles:
1. Protecting CPA’s local control and competitive position, especially as it relates to rates, finances, power procurement and expansion of its service territory.
Agenda Page 42
2. Pursing power resource planning and procurement that promote the growth in renewable energy capacity at the local level and reduce fossil fuel dependency, with the goal of combating climate change.
3. Developing and administering customer programs that encourage clean energy adoption by CPA customers.
4. Ensuring fair access to data, particularly as it relates to energy usage, billing, and information needed to develop and administer customer programs.
5. Supporting CPA’s ability to set electric rates and offer programmatic services that are affordable and inclusive for all.
These principles are incorporated throughout the below platform.
Policy Platform
1) Affordability and Local Control
a. Fair rates and cost allocation: CPA will pursue administrative and legislative initiatives that will ensure that non-bypassable charges assessed for CPA customers are fair, and that CPA’s customers are not unnecessarily burdened by non-bypassable charges.
b. Finances: CPA will pursue administrative and legislative initiatives to ensure that CPA is eligible to apply and receive funding made available to the electricity sector for decarbonization, reliability, and affordability purposes, and that CPA’s financial health are not disparately impacted by new regulations.
c. CCA Expansion: CPA will pursue administrative and legislative initiatives to protect CPA’s ability to expand its service to new member agencies. d. Local Control: CPA will pursue administrative and legislative initiatives to protect CPA Board’s authority over CPA’s procurement, rate-setting, and customer program development activities.
2) Power Resources Planning and Procurement
a. Resource Adequacy and Reliability: CPA will pursue administrative and legislative initiatives that will enable CPA to secure capacity resources to meet its reliability obligations, such as initiatives that evaluate the supply of capacity resources available to load serving entities (LSEs), determine the appropriate market mechanisms for LSEs to procure capacity resources, and develop a durable policy framework that encourages all LSEs to construct their fair share of new capacity resources to maintain grid reliability while pursuing decarbonization efforts..
Agenda Page 43
b. Carbon-Free Resources: CPA will pursue administrative and legislative initiatives that will maximize CPA’s ability to procure carbon-free resources to meet or exceed the needs of CPA’s three product offerings and its long-term carbon-free procurement goal as required by SB 100 and other statutory or regulatory obligations.
c. Renewable Resources: CPA will pursue administrative and legislative initiatives that will maximize CPA’s ability to procure eligible Renewable Portfolio Standard (RPS) resources to meet the needs of CPA’s three product offerings and its long-term RPS procurement goal as required by SB 100 and other statutory or regulatory obligations.
d. Integrated Resource Plan: CPA will pursue administrative and legislative initiatives that will maximize CPA’s ability to plan and procure resources to meet various environmental and reliability goals set by state laws and by its Board of Directors, while offering affordable products and programs to serve its customers, including disadvantaged communities.
e. Transmission: CPA will pursue administrative and legislative initiatives that will provide CPA adequate access to transmission capacity to maximize its procurement of RPS-eligible or carbon-free resources that meet various statutory and regulatory requirements.
f. Research & Development: CPA will pursue administrative and legislative initiatives that support the research and development of new energy resources that can be procured to meet the reliability and decarbonization goals set by the State and its Board of Directors.
3) Customer Programs
a. Demand Response, Demand Flexibility and Energy Efficiency: CPA will pursue administrative and legislative initiatives that will enable CPA to pursue demand response programs and opportunities for its customers. b. Zero-emission vehicles: CPA will pursue administrative and legislative initiatives to promote electrification of the transportation sector in response to state and federal goals aimed at increasing the usage of zero emission vehicles.
c. Building decarbonization: CPA will pursue administrative and legislative initiatives that supports the ability of CPA to promote electrification and the reduction of natural gas usage in the building sector.
d. Local Grid Management and Resiliency: CPA will pursue administrative and legislative initiatives that supports the ability of CPA and its member agencies to offer local grid management and resiliency solutions to increase local reliability and adaptability that could protect against power outages and extreme heat.
e. Distributed Energy Resources: CPA will pursue administrative and legislative initiatives that supports the ability of CPA to offer and utilize distributed Agenda Page 44
energy resources as part of its reliability, resiliency and community engagement strategies.
f. Research and Development: CPA will pursue administrative and legislative initiatives that supports the ability of CPA to explore new opportunities related to behind the meter clean energy resources.
4) Data Access
a. Timely and Accurate Access to Customer Data: CPA will pursue administrative and legislative initiatives that will enable CPA to obtain timely and accurate access to its customers’ data to improve billing accuracy and inform the development and implementation of customer programs. b. Fair Fees for Data Management Services: CPA will pursue administrative and legislative initiatives to ensure that the fees due to Southern California Edison for data access and management are fairly assessed based on data needs and potential technological improvements.
5) Diversity, Equity, Inclusion
a. Customer Protection: CPA will pursue administrative and legislative initiatives that supports the protection of all ratepayers, particularly environmental and social justice communities in CPA’s service territory.
b. Supplier Diversity: CPA will pursue administrative and legislative initiatives that supports supplier diversity in CPA’s contracting activities and through women-owned, minority-owned, disabled-veteran-owned, and lesbian, gay, bisexual, and/or transgender owned business enterprises. c. Workforce Development: CPA will pursue administrative and legislative initiatives that supports workforce development with a focus on new stable, well-paying local jobs, and participation in a just transition to a low-carbon economy.
d. Energy Equity: CPA will pursue administrative and legislative initiatives that supports increased access to clean energy technologies, clean energy and contracting jobs, and clean energy opportunities for environmental and social justice communities in CPA’s service territory.
Agenda Page 45
Staff Report – Agenda Item 6
To: Board of Directors
From: Christian Cruz, Community Outreach Manager
Approved by: Ted Bardacke, Chief Executive Officer
Subject: Community Advisory Committee (CAC) Report
Date: June 1, 2023
RECOMMENDATION
Receive and file.
MEETING REPORT
The Community Advisory Committee did not meet in May.
Agenda Page 46
Staff Report – Agenda Item 7
To: Board of Directors
From: Karen Schmidt, Director, Rates and Strategy
Matthew Langer, Chief Operating Officer
Approved By: Ted Bardacke, Chief Executive Officer
Subject: FY 2023/24 Rates
Date: June 1, 2023
RECOMMENDATION
Adopt Resolution No. 23-06-048 to Approve New Rates for Phase 1 & 2 Non-Residential Customers, Resolution No. 23-06-049 to Approve New Rates for Phase 3 & 5 Residential Customers, Resolution No. 23-06-050 to Approve New Rates for Phase 4 & 5 Non-Residential Customers, and Resolution No. 23-06-051 to Approve New Rates for All Phase 6 Customers.
These Resolutions will implement new CPA rates effective on July 1, 2023, according to the Fiscal Year 2023/24 Rates Approach adopted by the CPA Board on May 4, 2023.
BACKGROUND
FY 2022/23 Rates and Financial Trajectory
CPA’s Board set rates for FY 2022/23 in June 2022 such that 100% Green Power was at a 3% premium target compared to SCE’s total bill, Clean Power was at a parity target to SCE, and Lean Power was at a 1% discount target to SCE for most customers. These rates targets reflected a strong commitment to CPA’s ongoing fiscal strength, including meeting the Board-approved minimum reserve target and achieving an investment-grade credit rating in 2023 while maintaining rate competitiveness through ongoing energy market volatility.
The low-risk approach taken by the Board last year has ensured that CPA remains fiscally stable through the extraordinary energy market events in September and the December Agenda Page 47
Board of Directors Item 7
through February period. These market events, as well as increasing short-term renewable energy prices, mean that CPA’s FY 2022/23 financial results will be below the budget adopted in June 2022. The interim rate change adopted by the Board in March and implemented in April will help bring CPA closer to its fiscal targets for the year while still maintaining rate competitiveness levels compared to SCE that are better than the original ones adopted in June 2022. Results for the full fiscal year are now expected to be in line with the amended FY 2022/23 budget adopted by the Board in April 2023.
Competitive Position
In January 2023, SCE raised their generation rates and lowered the Power Charge Indifference Adjustment (PCIA), or “exit fee.” As a result, CPA customers’ bills went down starting in January, and almost all CPA customers received a discount compared to SCE across all CPA energy products.
Due to the aforementioned extreme market events, the Board approved an interim rate adjustment in March 2023 that went into effect on April 1, 2023. This interim rate adjustment utilized an across-the-board percentage increase to all rates, with most CPA customers continuing to receive a total-bill discount compared to SCE.
However, this percentage-based approach resulted in some inconsistencies in bill comparisons and product differentials, as illustrated in the table below.
April 2023 Bill Comparison Targets to SCE
Note: Comparisons are based on representative 2018 PCIA vintage rate schedules and load profiles for each rate class, and SCE rates as of March 1, 2023. Individual customer comparisons vary by specific rate schedule and customer usage.
SCE is planning another June 1 rate change that will increase delivery charges and SCE generation rates, further strengthening CPA’s competitive position.
Throughout the rate volatility and other events, such as seven member agencies changing their default levels to 100% Green, CPA’s customer base has remained stable, Rate Class Lean Power Clean Power 100% Green
Power
Residential -5.8% -4.6% -1.0%
Residential CARE -8.6% -6.8% -6.8%
Small Business -3.5% -2.3% +1.4%
Agenda Page 48
Board of Directors Item 7
with participation rates steady at 93%, the number of active customers growing, and some large corporate and public agency customers returning to CPA from other providers.
Reserves, Liquidity and Credit Rating Goals
A credit rating is an opinion published by an independent rating agency (e.g., S&P, Moody’s, and Fitch) that assesses the likelihood an entity will repay its debts. Entities with an investment-grade (IG) rating are considered the best credit risks and can attract financing at the lowest cost and from the greatest number of lenders and investors.
Building reserves and liquidity are critical for achieving an IG credit rating and can assist CPA in getting more favorable terms for energy contracts.
CPA’s Board-approved reserve target is 30% to 50% of annual expenses. Projected reserves as of June 30, 2023, are 22% of annual expenses. Reaching the midpoint of that target, 40%, provides a buffer against market volatility and seasonal volatility in cash flows and can accelerate CPA’s progress toward securing an IG credit rating.
The key metric for liquidity is Days Liquidity on Hand (DLOH), which is comprised of cash and unused lines of credit. CPA is currently at the low end of the “adequate” range and projects to stay within the adequate range by the end of the fiscal year. While DLOH is just one of many metrics that rating agencies consider when issuing a credit rating, staff believe that CPA would need to be at least in the middle of the “strong” range to receive an IG credit rating. That level is expected to be achieved with the proposed rates.
Investment-grade Credit Ratings and Days Liquidity on Hand
Risk Factor Metric Extremely
Strong
Very
Strong Strong Adequate Vulnerable Highly Vulnerable
Liquidity Days Liquidity on
Hand (days) >=270 150-270 90-150 45-90 15-45 <=15
Indicative Credit Rating High IG Medium IG Low IG Sub-IG
PRIOR BOARD ACTION
Staff developed three options for the FY 2023/24 rate approach and presented them to the Executive Committee on April 19, the Community Advisory Committee on April 20, and to the Board on May 4. The three options were framed in terms of meeting the Board’s operating reserve target range and the liquidity levels as measured by DLOH. All options Agenda Page 49
Board of Directors Item 7
set total bill comparisons to be competitive with SCE and are within CPA’s historical rate comparison ranges compared to current SCE rates.
FY 2023/24 Total Bill Comparison Scenarios
Scenario
Residential and Small/Medium Business1
Rate Comparison Target to SCE Estimated Financial Metrics at End-FY 23/24 Lean Power Clean Power 100%
Green Power
Contribution to
Net Position Reserve % Days Liquidity on Hand (DLOH)
1. Minimum Reserve -6.0% -5.0% -1.0% $158M 30% 121
2. Moderate Reserve -4.0% -3.0% 1.0% $222M 35% 136
3. Midpoint Reserve -2.0% -1.0% 3.0% $283M 40% 151
Note: Comparisons are based on representative 2018 PCIA vintage rate schedules and load profiles for each rate class and SCE rates as of March 1, 2023. Individual customer comparisons vary by specific rate schedule and customer usage.
On April 19, the Executive Committee recommended Option 3, the Midpoint Reserve rate setting approach, along with staff recommendations on product pricing differential, subset rates, and the rate approach for new member communities as described below. The Community Advisory Committee expressed no objection to the Executive Committee’s recommendation, and on May 4, 2023, the Board adopted this rate setting approach for FY 2023/24.
Product Pricing Differentials
For FY 2022/23 the Board adopted product pricing differential targets where 100% Green Power was priced approximately 3% higher than Clean Power and approximately 4% higher than Lean Power based on total bill comparisons. CPA’s cost of service (COS) analysis indicates a widening of the product price differential targets. The main driver of this widening differential is the increased cost of short-term renewable energy, offset in part by rising energy prices overall. Therefore, staff recommended setting the FY 2023/24 price differential targets between 100% Green and Clean to approximately 4% and the differential between 100% Green and Lean to approximately 5% to follow the current COS more closely.
These product differentials assume the following product content: (i) 100% Green Power:
100% renewable; (ii) Clean Power: 50% renewable; and, (iii) Lean Power: 40% clean 1 Small/Medium Business includes TOU-GS-1 and TOU-GS-2 rate schedules.
Agenda Page 50
Board of Directors Item 7
energy including 20-25% renewable and 15%-20% sourced from zero-carbon large hydropower.
Subset Rates
Most large commercial and industrial, pumping and agricultural, and streetlighting rates, referred to internally as “subset” rates2, have been based on COS since 2019. Staff recommended updating all subset rates to reflect CPA’s current COS. Fewer than 9,900 or less than 1% of CPA customers are on subset rates, although they tend to be customers with larger loads. CPA’s competitiveness levels relative to SCE for subset rates have steadily improved since 2019.
New Member Community Rate Approach
Customers in three new CPA member agencies – Hermosa Beach, Monrovia, and Santa Paula – will be placed on SCE’s 2023 vintage PCIA rates when CPA begins service in March 2024. Together these three communities will represent approximately 4% of CPA’s annual electric consumption.
The residential 2023 PCIA is currently 1.6 cents per kilowatt-hour (c/kWh), compared to -0.4 c/kWh for the 2018 PCIA that most CPA customers pay. Based on the current 2023 PCIA, residential customer bills in the new member communities would be about 6% higher than existing customer bills and higher than SCE base rates if they were placed on the same generation rates as existing customers.
Staff recommended setting rates for new member communities to provide the same bill comparison targets as existing communities and delegating to staff the ability to adjust the rates if needed to ensure consistent bill comparisons between new and existing customers in case SCE rates change within FY 2023/243.
At these rates, CPA expects to recover the cost to serve the new member communities and anticipates that the spread between 2018 and 2023 vintage PCIA rates could be smaller in 2024, which would reduce the impact of the PCIA differential. 2 Subset rates include TOU-8 and TOU-GS-3 rate classes for customers in Rolling Hills Estates, South Pasadena, and unincorporated Los Angeles County. Subset rates include TOU-8, TOU-GS-3, TOU-PA-2, TOU-PA-3, and LS-1 rate classes in all other parts of CPA’s service territory. The variation is due to those customers having different PCIA vintages.
3 SCE typically implements its annual update to the PCIA in the first quarter of the year. In 2024, this would be right in the middle of the enrollment process for new communities. Delegating authority to staff to adjust rates as SCE changes the PCIA will ensure rate comparisons remain consistent throughout the enrollment process.
Agenda Page 51
Board of Directors Item 7
RATES PROPOSAL
The rates proposal implements the rate setting approach adopted by the Board on May 4 and updates rates for CPA’s specialty rates and programs. Overall, the rates proposal meets CPA’s FY 2023/24 revenue requirements in the final proposed FY 2023/24 budget (Item 10), including a $276 million contribution to the net position.
Over 99% of CPA’s customers are served on CPA’s residential and small/medium business rates. The rate comparison targets shown below illustrate the total bill differentials to SCE’s rates as of March 1, 2023, in percentage and monthly dollars terms under the proposed rates.
Average Customer Total Bill Comparison Target to SCE (% Discount or Premium) Customer Class Lean Power Clean Power 100% Green
Power
Residential -1.0% 0.0% 3.0%
Residential-CARE -3.0% -1.5% -1.5%
Small/Medium Business -1.0% 0.0% 3.0%
Average Customer Total Bill Comparison Target to SCE ($/month) Customer Class Lean Power Clean Power 100% Green
Power
Residential -$3.83 -$1.92 $5.75
Residential-CARE -$3.83 -$1.92 -$1.92
Small/Medium Business -$5.55 -$2.78 $8.32
Note: Comparisons are based on representative 2018 PCIA vintage rate schedules and load profiles for each rate class, and SCE rates as of March 1, 2023. Individual customer comparisons vary by specific rate schedule and customer usage.
Total bill comparisons will periodically fluctuate as SCE undertakes multiple rate changes over the course of the fiscal year. Staff estimates that SCE’s June 1 generation rate increase, which will increase total bills for bundled SCE customers by approximately 3- 4%, will result in 100% Green being close to parity with SCE, Clean Power at a 4% discount, and Lean Power at a 5% discount, when CPA’s FY 2023/24 rates go into effect on July 1.
Subset Customers
Subset rates are reset to cover the projected FY 2023/24 cost of service as they have been since the subset rates were introduced in 2019. As noted above, staff estimates that Agenda Page 52
Board of Directors Item 7
SCE’s June 1 rate change will result in total bill comparisons that are approximately 3-4% lower than those shown in the table below when CPA’s FY 2023/24 rates go into effect on July 1.
Average Subset Customer Total Bill Comparison Target to SCE Rate Class Lean Power Clean Power 100% Green
Power
TOU-GS-3-D 3.5% 4.7% 9.6%
TOU-8-D-PRI 3.7% 5.0% 10.2%
TOU-PA-2-D -2.1% -0.9% 3.7%
TOU-PA-3-D -1.3% -0.1% 4.7%
Streetlighting 14.9% 16.1% 20.9%
Note: Comparisons are based on representative 2018 PCIA vintage rate schedules and load profiles for each rate class, and SCE rates as of March 1, 2023. Individual customer comparisons vary by specific rate schedule and customer usage.
Peak Management Pricing
Staff is also recommending adoption of updated rates for the Peak Management Pricing (PMP) demand response program. 2023 will be CPA’s fifth year with PMP. CPA will continue the program, seek to grow enrollment, and gather more data on customer behavior during demand response events.
Wind Machine Credit
This rate change also includes the authorization of existing rate factors for the wind machine credit. This is a credit offered by SCE to small and medium sized bundled agricultural customers that utilize wind machines to prevent crop freezing. The Board adopted this credit on June 6, 2019 Board meeting for Phase 4 customers that were receiving the credit from SCE prior to CPA enrollment. No new customers are eligible for the wind machine credit, and it is not applicable to Phase 1 and 2 customers as there were no Phase 1 and 2 customers receiving the credit from SCE prior to CPA enrollment.
Power Share Rates
Power Share is a CPA program funded through the CPUC that offers 20% bill discounts to low-income residential customers in Disadvantaged Communities (DACs) who receive 100% renewable energy from qualified projects located in DACs in Southern California.
The discount appears on the CPA portion of the bill, but reflects an overall discount to the entire bill, including SCE delivery charges. This requires CPA to create and regularly Agenda Page 53
Board of Directors Item 7
update special Power Share rates to ensure customers get the correct 20% overall bill discount. The proposed residential rates include updated Power Share rates to maintain the 20% total bill discount based on current SCE delivery rates and the proposed new CPA generation rates. On December 7, 2020, the Board authorized staff to update Power Share Rates every time SCE changes its rates or charges so that enrolled customers continue to receive the 20 percent discount on their otherwise applicable tariff. Resolution No. 23-06-049 and Resolution 23-06-051 authorize staff to continue updating the Power Share rates as needed and without requiring Board action based on SCE rate changes throughout FY 2023/24.
CUSTOMER COMMUNICATIONS
The rate change will be communicated on customer bills, CPA’s website, and in the annual Joint Rate Comparison mailer that will be sent to all customers in September. Staff will continue to emphasize CPA’s overall value proposition, including our customers’ positive impact on the environment, rate competitiveness, the agency’s commitment to supporting vulnerable communities and customers, and investments in reliability.
These messages will also be incorporated into customer communications in the two jurisdictions undertaking default rate changes in October 2023 and in the three communities starting CPA service in March 2024.
FUTURE RATE CHANGES
Staff will continue to monitor SCE rate changes as well as energy market volatility.
Although these factors may warrant consideration of interim rate adjustments, staff does not anticipate proposing any rate changes before the next fiscal year, consistent with CPA’s aim to adjust rates only once per year.
ATTACHMENTS
1. Resolution No. 23-06-048
2. Resolution No. 23-06-049
3. Resolution No. 23-06-050
4. Resolution No. 23-06-051
Agenda Page 54
RESO NO. 23-06-048
RESOLUTION NO. 23-06-048
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA
TO APPROVE 2023 RATES FOR PHASES 1 & 2 FOR NON-RESIDENTIAL CUSTOMERS
THE BOARD OF DIRECTORS OF THE CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA DOES HEREBY FIND, RESOLVE, AND ORDER AS FOLLOWS:
WHEREAS, the Clean Power Alliance of Southern California (formerly known as Los Angeles Community Choice Energy Authority) (“Clean Power Alliance” or “CPA”) was formed on June 27, 2017;
WHEREAS, on February 1, 2018, Phase 1 commenced with the enrollment of all municipal accounts in unincorporated Los Angeles County, necessitating the adoption of Phase 1 non-residential rates;
WHEREAS, on June 1, 2018, Phase 2 commenced with the enrollment of all non-residential customers in unincorporated Los Angeles County, South Pasadena, and Rolling Hills Estates, necessitating the adoption of Phase 2 non-residential rates; WHEREAS, on June 6, 2019, the Board authorized rates for the implementation of the Peak Management Pricing demand response program; WHEREAS, on May 4, 2023, the Board approved a FY 2023-2024 rate setting approach that based on representative customer load profiles and customer usage:
a. Set the CPA target rate product differential between 100% Green Power rate product and Clean Power rate product to 4% and the target price differential between 100% Green Power rate product and Lean Power rate product to 5% as informed by CPA’s projected FY 2023-24 cost of service (COS),
b. Direct staff to develop rates for each of CPA’s three rate products for residential and small and medium business customers1 such that the 100% Green rate product targets at a 3% total bill premium compared to Southern California Edison (“SCE”) base rates as of March 1, 2023, Clean Power at a 1% total bill discount target compared to SCE base rates as of March 1, 2023, and Lean Power at a 2% total bill discount target compared to SCE base rates as of March 1, 2023, for customers on the 2017 Power Charge Indifference Adjustment vintage,
c. Update rates for large commercial, pumping and agriculture, and 1 Small and medium business customers are considered to be on the TOU-GS-1 and TOU-GS-2 rate schedules.
Agenda Page 55
RESO NO. 23-06-048
streetlighting customer2 rate classes (“Subset Customers”) to reflect CPA’s projected FY 2023-24 COS, and,
d. Set total bill comparisons for customers in the cities of Hermosa Beach, Monrovia, and Santa Paula at the same total bill comparison levels as customers of the current member agencies.
(subsections (a)-(d) are collectively referred to as “Rate Setting Approach”)
NOW THEREFORE, BE IT DETERMINED, ORDERED, AND RESOLVED,
BY THE BOARD OF DIRECTORS OF THE CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA THAT:
1. The Rate Setting Approach for FY 2023-2024 will apply to all rates for Phases 1 and 2 customers.
2. The proposed Phases 1 & 2 rate schedules as presented in Exhibit A are hereby approved effective July 1, 2023.
3. The proposed Phases 1 & 2 rate schedules for CARE customers as presented in Exhibit B are hereby approved effective July 1, 2023.
4. The proposed Peak Management Pricing rates as presented in Exhibit C are hereby approved effective July 1, 2023.
APPROVED AND ADOPTED this 1st day of June 2023.
Julian Gold, Chair
ATTEST:
Gabriela Monzon, Secretary
2 Subset Customers are on TOU-8 and TOU-GS-3 rate classes for Phase 1 and 2 customers located in Rolling Hills Estates, South Pasadena, and unincorporated Los Angeles County.
Agenda Page 56
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1-A Energy Summer ON-PEAK $ 0.19566 $ 0.19958 $ 0.21525 TOU-GS-1-A Energy Summer MID-PEAK $ 0.18333 $ 0.18699 $ 0.20165 TOU-GS-1-A Energy Summer OFF-PEAK $ 0.17659 $ 0.18011 $ 0.19422 TOU-GS-1-A Energy Winter MID-PEAK $ 0.13152 $ 0.13412 $ 0.14452 TOU-GS-1-A Energy Winter OFF-PEAK $ 0.11886 $ 0.12120 $ 0.13056 TOU-GS-1-B Energy Summer ON-PEAK $ 0.10895 $ 0.11108 $ 0.11963 TOU-GS-1-B Energy Summer MID-PEAK $ 0.10222 $ 0.10422 $ 0.11221 TOU-GS-1-B Energy Summer OFF-PEAK $ 0.09854 $ 0.10047 $ 0.10816 TOU-GS-1-B Energy Winter MID-PEAK $ 0.13152 $ 0.13412 $ 0.14452 TOU-GS-1-B Energy Winter OFF-PEAK $ 0.11886 $ 0.12120 $ 0.13056 TOU-GS-1-B Demand Summer ON-PEAK $ 14.74 $ 15.04 $ 16.25 TOU-GS-1-B Demand Summer MID-PEAK $ 4.80 $ 4.89 $ 5.29
TOU-GS-1-D Energy Summer ON-PEAK $ 0.14745 $ 0.15038 $ 0.16209 TOU-GS-1-D Energy Summer MID-PEAK $ 0.13362 $ 0.13626 $ 0.14684 TOU-GS-1-D Energy Summer OFF-PEAK $ 0.08928 $ 0.09102 $ 0.09795 TOU-GS-1-D Energy Winter MID-PEAK $ 0.13911 $ 0.14187 $ 0.15289 TOU-GS-1-D Energy Winter OFF-PEAK $ 0.09967 $ 0.10161 $ 0.10940 TOU-GS-1-D Energy Winter SUPER-OFF-PEAK $ 0.07581 $ 0.07726 $ 0.08309 TOU-GS-1-D Demand Summer ON-PEAK $ 20.08 $ 20.49 $ 22.14 TOU-GS-1-D Demand Winter MID-PEAK $ 6.17 $ 6.29 $ 6.80
TOU-GS-1-E Energy Summer ON-PEAK $ 0.53646 $ 0.54738 $ 0.59105 TOU-GS-1-E Energy Summer MID-PEAK $ 0.14645 $ 0.14936 $ 0.16098 TOU-GS-1-E Energy Summer OFF-PEAK $ 0.10610 $ 0.10818 $ 0.11649 TOU-GS-1-E Energy Winter MID-PEAK $ 0.21970 $ 0.22411 $ 0.24175 TOU-GS-1-E Energy Winter OFF-PEAK $ 0.12424 $ 0.12669 $ 0.13649 TOU-GS-1-E Energy Winter SUPER-OFF-PEAK $ 0.06757 $ 0.06885 $ 0.07400 TOU-GS-1-ES Energy Summer ON-PEAK $ 0.57911 $ 0.59091 $ 0.63809 TOU-GS-1-ES Energy Summer MID-PEAK $ 0.15797 $ 0.16112 $ 0.17369 TOU-GS-1-ES Energy Summer OFF-PEAK $ 0.11425 $ 0.11649 $ 0.12547 TOU-GS-1-ES Energy Winter MID-PEAK $ 0.20540 $ 0.20952 $ 0.22599 TOU-GS-1-ES Energy Winter OFF-PEAK $ 0.11642 $ 0.11871 $ 0.12786 TOU-GS-1-ES Energy Winter SUPER-OFF-PEAK $ 0.06333 $ 0.06453 $ 0.06933 TOU-GS-1-PRI-A Energy Summer ON-PEAK $ 0.19405 $ 0.19794 $ 0.21347 TOU-GS-1-PRI-A Energy Summer MID-PEAK $ 0.18172 $ 0.18535 $ 0.19987 TOU-GS-1-PRI-A Energy Summer OFF-PEAK $ 0.17498 $ 0.17847 $ 0.19244 TOU-GS-1-PRI-A Energy Winter MID-PEAK $ 0.12991 $ 0.13248 $ 0.14274 TOU-GS-1-PRI-A Energy Winter OFF-PEAK $ 0.11725 $ 0.11956 $ 0.12879 TOU-GS-1-PRI-B Energy Summer ON-PEAK $ 0.10837 $ 0.11050 $ 0.11900 TOU-GS-1-PRI-B Energy Summer MID-PEAK $ 0.10165 $ 0.10363 $ 0.11158 TOU-GS-1-PRI-B Energy Summer OFF-PEAK $ 0.09797 $ 0.09988 $ 0.10753 TOU-GS-1-PRI-B Energy Winter MID-PEAK $ 0.13095 $ 0.13354 $ 0.14389 TOU-GS-1-PRI-B Energy Winter OFF-PEAK $ 0.11829 $ 0.12062 $ 0.12993 TOU-GS-1-PRI-B Demand Summer ON-PEAK $ 14.48 $ 14.78 $ 15.97 TOU-GS-1-PRI-B Demand Summer MID-PEAK $ 4.54 $ 4.63 $ 5.01 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 57
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1-PRI-D Energy Summer ON-PEAK $ 0.14688 $ 0.14979 $ 0.16146 TOU-GS-1-PRI-D Energy Summer MID-PEAK $ 0.13305 $ 0.13568 $ 0.14621 TOU-GS-1-PRI-D Energy Summer OFF-PEAK $ 0.08871 $ 0.09043 $ 0.09732 TOU-GS-1-PRI-D Energy Winter MID-PEAK $ 0.13854 $ 0.14129 $ 0.15226 TOU-GS-1-PRI-D Energy Winter OFF-PEAK $ 0.09910 $ 0.10103 $ 0.10877 TOU-GS-1-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.07524 $ 0.07668 $ 0.08246 TOU-GS-1-PRI-D Demand Summer ON-PEAK $ 19.89 $ 20.30 $ 21.93 TOU-GS-1-PRI-D Demand Winter MID-PEAK $ 5.98 $ 6.10 $ 6.59 TOU-GS-1-PRI-E Energy Summer ON-PEAK $ 0.53485 $ 0.54574 $ 0.58928 TOU-GS-1-PRI-E Energy Summer MID-PEAK $ 0.14484 $ 0.14771 $ 0.15921 TOU-GS-1-PRI-E Energy Summer OFF-PEAK $ 0.10449 $ 0.10654 $ 0.11472 TOU-GS-1-PRI-E Energy Winter MID-PEAK $ 0.21809 $ 0.22247 $ 0.23998 TOU-GS-1-PRI-E Energy Winter OFF-PEAK $ 0.12263 $ 0.12505 $ 0.13472 TOU-GS-1-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.06596 $ 0.06721 $ 0.07223 TOU-GS-1-PRI-ES Energy Summer ON-PEAK $ 0.57750 $ 0.58927 $ 0.63631 TOU-GS-1-PRI-ES Energy Summer MID-PEAK $ 0.15637 $ 0.15948 $ 0.17192 TOU-GS-1-PRI-ES Energy Summer OFF-PEAK $ 0.11264 $ 0.11485 $ 0.12370 TOU-GS-1-PRI-ES Energy Winter MID-PEAK $ 0.20380 $ 0.20788 $ 0.22422 TOU-GS-1-PRI-ES Energy Winter OFF-PEAK $ 0.11481 $ 0.11706 $ 0.12609 TOU-GS-1-PRI-ES Energy Winter SUPER-OFF-PEAK $ 0.06172 $ 0.06289 $ 0.06756 TOU-GS-1-SUB-A Energy Summer ON-PEAK $ 0.19216 $ 0.19600 $ 0.21139 TOU-GS-1-SUB-A Energy Summer MID-PEAK $ 0.17982 $ 0.18342 $ 0.19779 TOU-GS-1-SUB-A Energy Summer OFF-PEAK $ 0.17309 $ 0.17654 $ 0.19036 TOU-GS-1-SUB-A Energy Winter MID-PEAK $ 0.12802 $ 0.13054 $ 0.14066 TOU-GS-1-SUB-A Energy Winter OFF-PEAK $ 0.11536 $ 0.11763 $ 0.12670 TOU-GS-1-SUB-B Energy Summer ON-PEAK $ 0.10783 $ 0.10995 $ 0.11840 TOU-GS-1-SUB-B Energy Summer MID-PEAK $ 0.10110 $ 0.10308 $ 0.11098 TOU-GS-1-SUB-B Energy Summer OFF-PEAK $ 0.09743 $ 0.09933 $ 0.10693 TOU-GS-1-SUB-B Energy Winter MID-PEAK $ 0.13040 $ 0.13298 $ 0.14329 TOU-GS-1-SUB-B Energy Winter OFF-PEAK $ 0.11775 $ 0.12007 $ 0.12933 TOU-GS-1-SUB-B Demand Summer ON-PEAK $ 14.15 $ 14.44 $ 15.60 TOU-GS-1-SUB-B Demand Summer MID-PEAK $ 4.21 $ 4.29 $ 4.64 TOU-GS-1-SUB-D Energy Summer ON-PEAK $ 0.14634 $ 0.14924 $ 0.16086 TOU-GS-1-SUB-D Energy Summer MID-PEAK $ 0.13251 $ 0.13513 $ 0.14561 TOU-GS-1-SUB-D Energy Summer OFF-PEAK $ 0.08817 $ 0.08988 $ 0.09672 TOU-GS-1-SUB-D Energy Winter MID-PEAK $ 0.13800 $ 0.14073 $ 0.15166 TOU-GS-1-SUB-D Energy Winter OFF-PEAK $ 0.09855 $ 0.10048 $ 0.10817 TOU-GS-1-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.07470 $ 0.07613 $ 0.08186 TOU-GS-1-SUB-D Demand Summer ON-PEAK $ 19.63 $ 20.04 $ 21.65 TOU-GS-1-SUB-D Demand Winter MID-PEAK $ 5.72 $ 5.84 $ 6.31 TOU-GS-1-SUB-E Energy Summer ON-PEAK $ 0.53296 $ 0.54380 $ 0.58719 TOU-GS-1-SUB-E Energy Summer MID-PEAK $ 0.14295 $ 0.14578 $ 0.15712 TOU-GS-1-SUB-E Energy Summer OFF-PEAK $ 0.10260 $ 0.10460 $ 0.11263 TOU-GS-1-SUB-E Energy Winter MID-PEAK $ 0.21620 $ 0.22053 $ 0.23789 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 58
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1-SUB-E Energy Winter OFF-PEAK $ 0.12074 $ 0.12311 $ 0.13263 TOU-GS-1-SUB-E Energy Winter SUPER-OFF-PEAK $ 0.06407 $ 0.06528 $ 0.07014 TOU-GS-2-B Energy Summer ON-PEAK $ 0.10429 $ 0.10640 $ 0.11482 TOU-GS-2-B Energy Summer MID-PEAK $ 0.09790 $ 0.09987 $ 0.10774 TOU-GS-2-B Energy Summer OFF-PEAK $ 0.09439 $ 0.09629 $ 0.10387 TOU-GS-2-B Energy Winter MID-PEAK $ 0.12560 $ 0.12816 $ 0.13839 TOU-GS-2-B Energy Winter OFF-PEAK $ 0.07633 $ 0.07785 $ 0.08389 TOU-GS-2-B Demand Summer ON-PEAK $ 17.63 $ 18.00 $ 19.50 TOU-GS-2-B Demand Summer MID-PEAK $ 5.92 $ 6.05 $ 6.55
TOU-GS-2-D Energy Summer ON-PEAK $ 0.14213 $ 0.14504 $ 0.15667 TOU-GS-2-D Energy Summer MID-PEAK $ 0.13004 $ 0.13269 $ 0.14330 TOU-GS-2-D Energy Summer OFF-PEAK $ 0.08530 $ 0.08700 $ 0.09380 TOU-GS-2-D Energy Winter MID-PEAK $ 0.09762 $ 0.09959 $ 0.10744 TOU-GS-2-D Energy Winter OFF-PEAK $ 0.09818 $ 0.10016 $ 0.10806 TOU-GS-2-D Energy Winter SUPER-OFF-PEAK $ 0.05401 $ 0.05505 $ 0.05920 TOU-GS-2-D Demand Summer ON-PEAK $ 25.42 $ 25.96 $ 28.12 TOU-GS-2-D Demand Winter MID-PEAK $ 6.67 $ 6.81 $ 7.38
TOU-GS-2-E Energy Summer ON-PEAK $ 0.46526 $ 0.47503 $ 0.51413 TOU-GS-2-E Energy Summer MID-PEAK $ 0.13004 $ 0.13269 $ 0.14330 TOU-GS-2-E Energy Summer OFF-PEAK $ 0.08530 $ 0.08700 $ 0.09380 TOU-GS-2-E Energy Winter MID-PEAK $ 0.14885 $ 0.15190 $ 0.16410 TOU-GS-2-E Energy Winter OFF-PEAK $ 0.09818 $ 0.10016 $ 0.10806 TOU-GS-2-E Energy Winter SUPER-OFF-PEAK $ 0.05401 $ 0.05505 $ 0.05920 TOU-GS-2-E Demand Summer ON-PEAK $ 7.15 $ 7.30 $ 7.91
TOU-GS-2-E Demand Winter MID-PEAK $ 2.77 $ 2.82 $ 3.06
TOU-GS-2-PRI-B Energy Summer ON-PEAK $ 0.10315 $ 0.10523 $ 0.11356 TOU-GS-2-PRI-B Energy Summer MID-PEAK $ 0.09676 $ 0.09870 $ 0.10648 TOU-GS-2-PRI-B Energy Summer OFF-PEAK $ 0.09325 $ 0.09512 $ 0.10260 TOU-GS-2-PRI-B Energy Winter MID-PEAK $ 0.12446 $ 0.12699 $ 0.13713 TOU-GS-2-PRI-B Energy Winter OFF-PEAK $ 0.07519 $ 0.07668 $ 0.08263 TOU-GS-2-PRI-B Demand Summer ON-PEAK $ 16.93 $ 17.29 $ 18.72 TOU-GS-2-PRI-B Demand Summer MID-PEAK $ 5.22 $ 5.33 $ 5.77 TOU-GS-2-PRI-D Energy Summer ON-PEAK $ 0.14099 $ 0.14387 $ 0.15541 TOU-GS-2-PRI-D Energy Summer MID-PEAK $ 0.12890 $ 0.13153 $ 0.14204 TOU-GS-2-PRI-D Energy Summer OFF-PEAK $ 0.08416 $ 0.08583 $ 0.09254 TOU-GS-2-PRI-D Energy Winter MID-PEAK $ 0.09648 $ 0.09842 $ 0.10618 TOU-GS-2-PRI-D Energy Winter OFF-PEAK $ 0.09704 $ 0.09899 $ 0.10680 TOU-GS-2-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05287 $ 0.05388 $ 0.05793 TOU-GS-2-PRI-D Demand Summer ON-PEAK $ 24.84 $ 25.37 $ 27.48 TOU-GS-2-PRI-D Demand Winter MID-PEAK $ 6.52 $ 6.66 $ 7.21 TOU-GS-2-PRI-E Energy Summer ON-PEAK $ 0.46357 $ 0.47331 $ 0.51225 TOU-GS-2-PRI-E Energy Summer MID-PEAK $ 0.12835 $ 0.13096 $ 0.14143 TOU-GS-2-PRI-E Energy Summer OFF-PEAK $ 0.08360 $ 0.08527 $ 0.09193 TOU-GS-2-PRI-E Energy Winter MID-PEAK $ 0.14716 $ 0.15017 $ 0.16223 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 59
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-2-PRI-E Energy Winter OFF-PEAK $ 0.09649 $ 0.09843 $ 0.10619 TOU-GS-2-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.05232 $ 0.05332 $ 0.05732 TOU-GS-2-PRI-E Demand Summer ON-PEAK $ 6.91 $ 7.06 $ 7.64 TOU-GS-2-PRI-E Demand Winter MID-PEAK $ 2.70 $ 2.76 $ 2.99 TOU-GS-2-PRI-R Energy Summer ON-PEAK $ 0.33421 $ 0.34119 $ 0.36915 TOU-GS-2-PRI-R Energy Summer MID-PEAK $ 0.16002 $ 0.16331 $ 0.17647 TOU-GS-2-PRI-R Energy Summer OFF-PEAK $ 0.09152 $ 0.09335 $ 0.10069 TOU-GS-2-PRI-R Energy Winter MID-PEAK $ 0.12273 $ 0.12523 $ 0.13522 TOU-GS-2-PRI-R Energy Winter OFF-PEAK $ 0.07346 $ 0.07491 $ 0.08072 TOU-GS-2-R Energy Summer ON-PEAK $ 0.33708 $ 0.34413 $ 0.37233 TOU-GS-2-R Energy Summer MID-PEAK $ 0.16289 $ 0.16624 $ 0.17964 TOU-GS-2-R Energy Summer OFF-PEAK $ 0.09439 $ 0.09629 $ 0.10387 TOU-GS-2-R Energy Winter MID-PEAK $ 0.12560 $ 0.12816 $ 0.13839 TOU-GS-2-R Energy Winter OFF-PEAK $ 0.07633 $ 0.07785 $ 0.08389 TOU-GS-2-SUB-B Energy Summer ON-PEAK $ 0.10180 $ 0.10386 $ 0.11207 TOU-GS-2-SUB-B Energy Summer MID-PEAK $ 0.09541 $ 0.09732 $ 0.10499 TOU-GS-2-SUB-B Energy Summer OFF-PEAK $ 0.09190 $ 0.09374 $ 0.10111 TOU-GS-2-SUB-B Energy Winter MID-PEAK $ 0.12311 $ 0.12562 $ 0.13564 TOU-GS-2-SUB-B Energy Winter OFF-PEAK $ 0.07384 $ 0.07530 $ 0.08114 TOU-GS-2-SUB-B Demand Summer ON-PEAK $ 15.99 $ 16.33 $ 17.69 TOU-GS-2-SUB-B Demand Summer MID-PEAK $ 4.29 $ 4.38 $ 4.74 TOU-GS-2-SUB-D Energy Summer ON-PEAK $ 0.13964 $ 0.14249 $ 0.15392 TOU-GS-2-SUB-D Energy Summer MID-PEAK $ 0.12755 $ 0.13015 $ 0.14055 TOU-GS-2-SUB-D Energy Summer OFF-PEAK $ 0.08281 $ 0.08445 $ 0.09105 TOU-GS-2-SUB-D Energy Winter MID-PEAK $ 0.09513 $ 0.09704 $ 0.10469 TOU-GS-2-SUB-D Energy Winter OFF-PEAK $ 0.09569 $ 0.09762 $ 0.10531 TOU-GS-2-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.05152 $ 0.05250 $ 0.05644 TOU-GS-2-SUB-D Demand Summer ON-PEAK $ 24.08 $ 24.59 $ 26.64 TOU-GS-2-SUB-D Demand Winter MID-PEAK $ 6.32 $ 6.45 $ 6.99 TOU-GS-3-B Energy Summer ON-PEAK $ 0.10072 $ 0.10275 $ 0.11094 TOU-GS-3-B Energy Summer MID-PEAK $ 0.09438 $ 0.09628 $ 0.10392 TOU-GS-3-B Energy Summer OFF-PEAK $ 0.09115 $ 0.09298 $ 0.10035 TOU-GS-3-B Energy Winter MID-PEAK $ 0.14860 $ 0.15170 $ 0.16407 TOU-GS-3-B Energy Winter OFF-PEAK $ 0.08868 $ 0.09048 $ 0.09769 TOU-GS-3-B Demand Summer ON-PEAK $ 14.80 $ 15.11 $ 16.38 TOU-GS-3-B Demand Summer MID-PEAK $ 4.94 $ 5.05 $ 5.47
TOU-GS-3-D Energy Summer ON-PEAK $ 0.13363 $ 0.13637 $ 0.14737 TOU-GS-3-D Energy Summer MID-PEAK $ 0.12231 $ 0.12480 $ 0.13483 TOU-GS-3-D Energy Summer OFF-PEAK $ 0.08423 $ 0.08592 $ 0.09269 TOU-GS-3-D Energy Winter MID-PEAK $ 0.11307 $ 0.11541 $ 0.12471 TOU-GS-3-D Energy Winter OFF-PEAK $ 0.11373 $ 0.11608 $ 0.12545 TOU-GS-3-D Energy Winter SUPER-OFF-PEAK $ 0.06213 $ 0.06337 $ 0.06828 TOU-GS-3-D Demand Summer ON-PEAK $ 22.09 $ 22.56 $ 24.45 TOU-GS-3-D Demand Winter MID-PEAK $ 9.45 $ 9.65 $ 10.47 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 60
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-3-E Energy Summer ON-PEAK $ 0.38490 $ 0.39298 $ 0.42547 TOU-GS-3-E Energy Summer MID-PEAK $ 0.12231 $ 0.12480 $ 0.13483 TOU-GS-3-E Energy Summer OFF-PEAK $ 0.08423 $ 0.08592 $ 0.09269 TOU-GS-3-E Energy Winter MID-PEAK $ 0.17894 $ 0.18270 $ 0.19768 TOU-GS-3-E Energy Winter OFF-PEAK $ 0.11373 $ 0.11608 $ 0.12545 TOU-GS-3-E Energy Winter SUPER-OFF-PEAK $ 0.06213 $ 0.06337 $ 0.06828 TOU-GS-3-E Demand Summer ON-PEAK $ 6.21 $ 6.34 $ 6.88
TOU-GS-3-E Demand Winter MID-PEAK $ 3.91 $ 4.00 $ 4.33
TOU-GS-3-PRI-B Energy Summer ON-PEAK $ 0.09956 $ 0.10157 $ 0.10966 TOU-GS-3-PRI-B Energy Summer MID-PEAK $ 0.09322 $ 0.09510 $ 0.10264 TOU-GS-3-PRI-B Energy Summer OFF-PEAK $ 0.08999 $ 0.09180 $ 0.09907 TOU-GS-3-PRI-B Energy Winter MID-PEAK $ 0.14724 $ 0.15031 $ 0.16256 TOU-GS-3-PRI-B Energy Winter OFF-PEAK $ 0.08731 $ 0.08909 $ 0.09618 TOU-GS-3-PRI-B Demand Summer ON-PEAK $ 14.18 $ 14.49 $ 15.70 TOU-GS-3-PRI-B Demand Summer MID-PEAK $ 4.33 $ 4.42 $ 4.79 TOU-GS-3-PRI-D Energy Summer ON-PEAK $ 0.13248 $ 0.13519 $ 0.14609 TOU-GS-3-PRI-D Energy Summer MID-PEAK $ 0.12115 $ 0.12362 $ 0.13355 TOU-GS-3-PRI-D Energy Summer OFF-PEAK $ 0.08308 $ 0.08474 $ 0.09141 TOU-GS-3-PRI-D Energy Winter MID-PEAK $ 0.11171 $ 0.11402 $ 0.12320 TOU-GS-3-PRI-D Energy Winter OFF-PEAK $ 0.11237 $ 0.11469 $ 0.12393 TOU-GS-3-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.06077 $ 0.06197 $ 0.06677 TOU-GS-3-PRI-D Demand Summer ON-PEAK $ 21.58 $ 22.04 $ 23.88 TOU-GS-3-PRI-D Demand Winter MID-PEAK $ 9.22 $ 9.42 $ 10.21 TOU-GS-3-PRI-E Energy Summer ON-PEAK $ 0.38279 $ 0.39083 $ 0.42314 TOU-GS-3-PRI-E Energy Summer MID-PEAK $ 0.12020 $ 0.12265 $ 0.13250 TOU-GS-3-PRI-E Energy Summer OFF-PEAK $ 0.08213 $ 0.08377 $ 0.09036 TOU-GS-3-PRI-E Energy Winter MID-PEAK $ 0.17645 $ 0.18016 $ 0.19492 TOU-GS-3-PRI-E Energy Winter OFF-PEAK $ 0.11124 $ 0.11354 $ 0.12269 TOU-GS-3-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.05964 $ 0.06082 $ 0.06553 TOU-GS-3-PRI-E Demand Summer ON-PEAK $ 6.00 $ 6.13 $ 6.64 TOU-GS-3-PRI-E Demand Winter MID-PEAK $ 3.82 $ 3.90 $ 4.23 TOU-GS-3-PRI-R Energy Summer ON-PEAK $ 0.28048 $ 0.28634 $ 0.30990 TOU-GS-3-PRI-R Energy Summer MID-PEAK $ 0.13960 $ 0.14246 $ 0.15397 TOU-GS-3-PRI-R Energy Summer OFF-PEAK $ 0.08869 $ 0.09046 $ 0.09762 TOU-GS-3-PRI-R Energy Winter MID-PEAK $ 0.14569 $ 0.14873 $ 0.16085 TOU-GS-3-PRI-R Energy Winter OFF-PEAK $ 0.08577 $ 0.08751 $ 0.09447 TOU-GS-3-R Energy Summer ON-PEAK $ 0.28294 $ 0.28885 $ 0.31263 TOU-GS-3-R Energy Summer MID-PEAK $ 0.14206 $ 0.14497 $ 0.15669 TOU-GS-3-R Energy Summer OFF-PEAK $ 0.09115 $ 0.09298 $ 0.10035 TOU-GS-3-R Energy Winter MID-PEAK $ 0.14860 $ 0.15170 $ 0.16407 TOU-GS-3-R Energy Winter OFF-PEAK $ 0.08868 $ 0.09048 $ 0.09769 TOU-GS-3-SUB-D Energy Summer ON-PEAK $ 0.13112 $ 0.13381 $ 0.14459 TOU-GS-3-SUB-D Energy Summer MID-PEAK $ 0.11980 $ 0.12224 $ 0.13205 TOU-GS-3-SUB-D Energy Summer OFF-PEAK $ 0.08172 $ 0.08335 $ 0.08991 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 61
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-3-SUB-D Energy Winter MID-PEAK $ 0.11011 $ 0.11238 $ 0.12143 TOU-GS-3-SUB-D Energy Winter OFF-PEAK $ 0.11077 $ 0.11305 $ 0.12216 TOU-GS-3-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.05916 $ 0.06033 $ 0.06500 TOU-GS-3-SUB-D Demand Summer ON-PEAK $ 20.91 $ 21.35 $ 23.14 TOU-GS-3-SUB-D Demand Winter MID-PEAK $ 8.94 $ 9.13 $ 9.90 TOU-8-PRI-B Energy Summer ON-PEAK $ 0.09444 $ 0.09636 $ 0.10403 TOU-8-PRI-B Energy Summer MID-PEAK $ 0.08783 $ 0.08960 $ 0.09671 TOU-8-PRI-B Energy Summer OFF-PEAK $ 0.08547 $ 0.08719 $ 0.09410 TOU-8-PRI-B Energy Winter MID-PEAK $ 0.14640 $ 0.14949 $ 0.16168 TOU-8-PRI-B Energy Winter OFF-PEAK $ 0.08743 $ 0.08924 $ 0.09635 TOU-8-PRI-B Demand Summer ON-PEAK $ 15.38 $ 15.70 $ 17.02 TOU-8-PRI-B Demand Summer MID-PEAK $ 4.94 $ 5.05 $ 5.47 TOU-8-PRI-D Energy Summer ON-PEAK $ 0.12468 $ 0.12724 $ 0.13751 TOU-8-PRI-D Energy Summer MID-PEAK $ 0.11434 $ 0.11668 $ 0.12606 TOU-8-PRI-D Energy Summer OFF-PEAK $ 0.07887 $ 0.08045 $ 0.08679 TOU-8-PRI-D Energy Winter MID-PEAK $ 0.10728 $ 0.10952 $ 0.11833 TOU-8-PRI-D Energy Winter OFF-PEAK $ 0.10812 $ 0.11038 $ 0.11927 TOU-8-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05902 $ 0.06020 $ 0.06487 TOU-8-PRI-D Demand Summer ON-PEAK $ 21.84 $ 22.30 $ 24.17 TOU-8-PRI-D Demand Winter MID-PEAK $ 9.78 $ 9.99 $ 10.83 TOU-8-PRI-E Energy Summer ON-PEAK $ 0.34521 $ 0.35247 $ 0.38162 TOU-8-PRI-E Energy Summer MID-PEAK $ 0.11434 $ 0.11668 $ 0.12606 TOU-8-PRI-E Energy Summer OFF-PEAK $ 0.07887 $ 0.08045 $ 0.08679 TOU-8-PRI-E Energy Winter MID-PEAK $ 0.19207 $ 0.19616 $ 0.21228 TOU-8-PRI-E Energy Winter OFF-PEAK $ 0.10812 $ 0.11038 $ 0.11927 TOU-8-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.05902 $ 0.06020 $ 0.06487 TOU-8-PRI-E Demand Summer ON-PEAK $ 5.36 $ 5.47 $ 5.93
TOU-8-PRI-E Demand Winter MID-PEAK $ 1.11 $ 1.14 $ 1.23 TOU-8-PRI-R Energy Summer ON-PEAK $ 0.26836 $ 0.27399 $ 0.29656 TOU-8-PRI-R Energy Summer MID-PEAK $ 0.12722 $ 0.12983 $ 0.14032 TOU-8-PRI-R Energy Summer OFF-PEAK $ 0.08547 $ 0.08719 $ 0.09410 TOU-8-PRI-R Energy Winter MID-PEAK $ 0.14640 $ 0.14949 $ 0.16168 TOU-8-PRI-R Energy Winter OFF-PEAK $ 0.08743 $ 0.08924 $ 0.09635 TOU-8-SEC-B Energy Summer ON-PEAK $ 0.09822 $ 0.10021 $ 0.10820 TOU-8-SEC-B Energy Summer MID-PEAK $ 0.09174 $ 0.09359 $ 0.10103 TOU-8-SEC-B Energy Summer OFF-PEAK $ 0.08889 $ 0.09068 $ 0.09787 TOU-8-SEC-B Energy Winter MID-PEAK $ 0.14117 $ 0.14415 $ 0.15587 TOU-8-SEC-B Energy Winter OFF-PEAK $ 0.08894 $ 0.09078 $ 0.09801 TOU-8-SEC-B Demand Summer ON-PEAK $ 15.63 $ 15.97 $ 17.31 TOU-8-SEC-B Demand Summer MID-PEAK $ 5.13 $ 5.24 $ 5.68 TOU-8-SEC-D Energy Summer ON-PEAK $ 0.13011 $ 0.13278 $ 0.14350 TOU-8-SEC-D Energy Summer MID-PEAK $ 0.11907 $ 0.12151 $ 0.13129 TOU-8-SEC-D Energy Summer OFF-PEAK $ 0.08227 $ 0.08392 $ 0.09054 TOU-8-SEC-D Energy Winter MID-PEAK $ 0.11169 $ 0.11402 $ 0.12321 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 62
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-8-SEC-D Energy Winter OFF-PEAK $ 0.11235 $ 0.11469 $ 0.12394 TOU-8-SEC-D Energy Winter SUPER-OFF-PEAK $ 0.06130 $ 0.06253 $ 0.06738 TOU-8-SEC-D Demand Summer ON-PEAK $ 22.70 $ 23.19 $ 25.13 TOU-8-SEC-D Demand Winter MID-PEAK $ 8.32 $ 8.50 $ 9.22 TOU-8-SEC-E Energy Summer ON-PEAK $ 0.36303 $ 0.37067 $ 0.40134 TOU-8-SEC-E Energy Summer MID-PEAK $ 0.11907 $ 0.12151 $ 0.13129 TOU-8-SEC-E Energy Summer OFF-PEAK $ 0.08227 $ 0.08392 $ 0.09054 TOU-8-SEC-E Energy Winter MID-PEAK $ 0.16558 $ 0.16908 $ 0.18291 TOU-8-SEC-E Energy Winter OFF-PEAK $ 0.11235 $ 0.11469 $ 0.12394 TOU-8-SEC-E Energy Winter SUPER-OFF-PEAK $ 0.06130 $ 0.06253 $ 0.06738 TOU-8-SEC-E Demand Summer ON-PEAK $ 6.39 $ 6.52 $ 7.07
TOU-8-SEC-E Demand Winter MID-PEAK $ 3.44 $ 3.52 $ 3.82 TOU-8-SEC-R Energy Summer ON-PEAK $ 0.27775 $ 0.28357 $ 0.30694 TOU-8-SEC-R Energy Summer MID-PEAK $ 0.13545 $ 0.13823 $ 0.14941 TOU-8-SEC-R Energy Summer OFF-PEAK $ 0.08889 $ 0.09068 $ 0.09787 TOU-8-SEC-R Energy Winter MID-PEAK $ 0.14117 $ 0.14415 $ 0.15587 TOU-8-SEC-R Energy Winter OFF-PEAK $ 0.08894 $ 0.09078 $ 0.09801 TOU-8-SUB-B Energy Summer ON-PEAK $ 0.08851 $ 0.09030 $ 0.09749 TOU-8-SUB-B Energy Summer MID-PEAK $ 0.08206 $ 0.08371 $ 0.09035 TOU-8-SUB-B Energy Summer OFF-PEAK $ 0.08011 $ 0.08172 $ 0.08819 TOU-8-SUB-B Energy Winter MID-PEAK $ 0.13535 $ 0.13820 $ 0.14946 TOU-8-SUB-B Energy Winter OFF-PEAK $ 0.08289 $ 0.08460 $ 0.09134 TOU-8-SUB-B Demand Summer ON-PEAK $ 17.57 $ 17.95 $ 19.45 TOU-8-SUB-B Demand Summer MID-PEAK $ 5.69 $ 5.81 $ 6.30 TOU-8-SUB-D Energy Summer ON-PEAK $ 0.11704 $ 0.11944 $ 0.12907 TOU-8-SUB-D Energy Summer MID-PEAK $ 0.10765 $ 0.10985 $ 0.11868 TOU-8-SUB-D Energy Summer OFF-PEAK $ 0.07387 $ 0.07534 $ 0.08128 TOU-8-SUB-D Energy Winter MID-PEAK $ 0.10050 $ 0.10259 $ 0.11085 TOU-8-SUB-D Energy Winter OFF-PEAK $ 0.10167 $ 0.10379 $ 0.11215 TOU-8-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.05546 $ 0.05657 $ 0.06096 TOU-8-SUB-D Demand Summer ON-PEAK $ 24.12 $ 24.63 $ 26.70 TOU-8-SUB-D Demand Winter MID-PEAK $ 9.33 $ 9.54 $ 10.34 TOU-8-SUB-E Energy Summer ON-PEAK $ 0.37896 $ 0.38694 $ 0.41901 TOU-8-SUB-E Energy Summer MID-PEAK $ 0.10765 $ 0.10985 $ 0.11868 TOU-8-SUB-E Energy Summer OFF-PEAK $ 0.07387 $ 0.07534 $ 0.08128 TOU-8-SUB-E Energy Winter MID-PEAK $ 0.16896 $ 0.17255 $ 0.18670 TOU-8-SUB-E Energy Winter OFF-PEAK $ 0.10167 $ 0.10379 $ 0.11215 TOU-8-SUB-E Energy Winter SUPER-OFF-PEAK $ 0.05546 $ 0.05657 $ 0.06096 TOU-8-SUB-E Demand Summer ON-PEAK $ 2.29 $ 2.34 $ 2.54
TOU-8-SUB-E Demand Winter MID-PEAK $ 1.33 $ 1.36 $ 1.47 TOU-8-SUB-R Energy Summer ON-PEAK $ 0.26614 $ 0.27173 $ 0.29413 TOU-8-SUB-R Energy Summer MID-PEAK $ 0.12110 $ 0.12358 $ 0.13357 TOU-8-SUB-R Energy Summer OFF-PEAK $ 0.08011 $ 0.08172 $ 0.08819 TOU-8-SUB-R Energy Winter MID-PEAK $ 0.13535 $ 0.13820 $ 0.14946 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 63
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-8-SUB-R Energy Winter OFF-PEAK $ 0.08289 $ 0.08460 $ 0.09134 TOU-EV-7 Energy Summer ON-PEAK $ 0.40358 $ 0.41177 $ 0.44453 TOU-EV-7 Energy Summer MID-PEAK $ 0.14645 $ 0.14936 $ 0.16098 TOU-EV-7 Energy Summer OFF-PEAK $ 0.12121 $ 0.12360 $ 0.13315 TOU-EV-7 Energy Winter MID-PEAK $ 0.21970 $ 0.22411 $ 0.24175 TOU-EV-7 Energy Winter OFF-PEAK $ 0.14174 $ 0.14455 $ 0.15579 TOU-EV-7 Energy Winter SUPER-OFF-PEAK $ 0.06757 $ 0.06885 $ 0.07400 TOU-EV-8 Energy Summer ON-PEAK $ 0.44500 $ 0.45434 $ 0.49171 TOU-EV-8 Energy Summer MID-PEAK $ 0.13004 $ 0.13269 $ 0.14330 TOU-EV-8 Energy Summer OFF-PEAK $ 0.10178 $ 0.10383 $ 0.11203 TOU-EV-8 Energy Winter MID-PEAK $ 0.18504 $ 0.18886 $ 0.20414 TOU-EV-8 Energy Winter OFF-PEAK $ 0.11871 $ 0.12112 $ 0.13077 TOU-EV-8 Energy Winter SUPER-OFF-PEAK $ 0.05401 $ 0.05505 $ 0.05920 TOU-EV-PRI-9 Energy Summer ON-PEAK $ 0.31563 $ 0.32133 $ 0.34415 TOU-EV-PRI-9 Energy Summer MID-PEAK $ 0.11496 $ 0.11698 $ 0.12507 TOU-EV-PRI-9 Energy Summer OFF-PEAK $ 0.08912 $ 0.09067 $ 0.09686 TOU-EV-PRI-9 Energy Winter MID-PEAK $ 0.17140 $ 0.17446 $ 0.18669 TOU-EV-PRI-9 Energy Winter OFF-PEAK $ 0.10129 $ 0.10306 $ 0.11015 TOU-EV-PRI-9 Energy Winter SUPER-OFF-PEAK $ 0.05039 $ 0.05122 $ 0.05457 TOU-EV-SEC-9 Energy Summer ON-PEAK $ 0.34317 $ 0.34965 $ 0.37557 TOU-EV-SEC-9 Energy Summer MID-PEAK $ 0.11954 $ 0.12173 $ 0.13052 TOU-EV-SEC-9 Energy Summer OFF-PEAK $ 0.09393 $ 0.09564 $ 0.10246 TOU-EV-SEC-9 Energy Winter MID-PEAK $ 0.17174 $ 0.17493 $ 0.18772 TOU-EV-SEC-9 Energy Winter OFF-PEAK $ 0.10710 $ 0.10906 $ 0.11689 TOU-EV-SEC-9 Energy Winter SUPER-OFF-PEAK $ 0.05225 $ 0.05315 $ 0.05678 TOU-EV-SUB-9 Energy Summer ON-PEAK $ 0.30977 $ 0.31425 $ 0.33218 TOU-EV-SUB-9 Energy Summer MID-PEAK $ 0.10897 $ 0.11050 $ 0.11663 TOU-EV-SUB-9 Energy Summer OFF-PEAK $ 0.08372 $ 0.08489 $ 0.08954 TOU-EV-SUB-9 Energy Winter MID-PEAK $ 0.15337 $ 0.15555 $ 0.16429 TOU-EV-SUB-9 Energy Winter OFF-PEAK $ 0.09469 $ 0.09601 $ 0.10130 TOU-EV-SUB-9 Energy Winter SUPER-OFF-PEAK $ 0.04766 $ 0.04829 $ 0.05082 TOU-PA-2-A Energy Summer ON-PEAK $ 0.29965 $ 0.30501 $ 0.32647 TOU-PA-2-A Energy Summer MID-PEAK $ 0.13965 $ 0.14211 $ 0.15191 TOU-PA-2-A Energy Summer OFF-PEAK $ 0.09627 $ 0.09793 $ 0.10457 TOU-PA-2-A Energy Winter MID-PEAK $ 0.12975 $ 0.13202 $ 0.14110 TOU-PA-2-A Energy Winter OFF-PEAK $ 0.08750 $ 0.08900 $ 0.09500 TOU-PA-2-B Energy Summer ON-PEAK $ 0.10640 $ 0.10824 $ 0.11562 TOU-PA-2-B Energy Summer MID-PEAK $ 0.09872 $ 0.10043 $ 0.10725 TOU-PA-2-B Energy Summer OFF-PEAK $ 0.09627 $ 0.09793 $ 0.10457 TOU-PA-2-B Energy Winter MID-PEAK $ 0.12975 $ 0.13202 $ 0.14110 TOU-PA-2-B Energy Winter OFF-PEAK $ 0.08750 $ 0.08900 $ 0.09500 TOU-PA-2-B Demand Summer ON-PEAK $ 9.97 $ 10.15 $ 10.88 TOU-PA-2-B Demand Summer MID-PEAK $ 3.06 $ 3.11 $ 3.34
TOU-PA-2-D Energy Summer ON-PEAK $ 0.14388 $ 0.14641 $ 0.15652 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 64
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-2-D Energy Summer MID-PEAK $ 0.13162 $ 0.13393 $ 0.14315 TOU-PA-2-D Energy Summer OFF-PEAK $ 0.08883 $ 0.09035 $ 0.09645 TOU-PA-2-D Energy Winter MID-PEAK $ 0.11377 $ 0.11575 $ 0.12367 TOU-PA-2-D Energy Winter OFF-PEAK $ 0.09157 $ 0.09315 $ 0.09945 TOU-PA-2-D Energy Winter SUPER-OFF-PEAK $ 0.07894 $ 0.08029 $ 0.08567 TOU-PA-2-D Demand Summer ON-PEAK $ 14.06 $ 14.32 $ 15.34 TOU-PA-2-D Demand Winter MID-PEAK $ 3.17 $ 3.23 $ 3.46
TOU-PA-2-D5 Energy Summer ON-PEAK $ 0.28154 $ 0.28658 $ 0.30672 TOU-PA-2-D5 Energy Summer MID-PEAK $ 0.26585 $ 0.27060 $ 0.28960 TOU-PA-2-D5 Energy Summer OFF-PEAK $ 0.08357 $ 0.08500 $ 0.09072 TOU-PA-2-D5 Energy Winter MID-PEAK $ 0.12057 $ 0.12268 $ 0.13109 TOU-PA-2-D5 Energy Winter OFF-PEAK $ 0.09699 $ 0.09867 $ 0.10536 TOU-PA-2-D5 Energy Winter SUPER-OFF-PEAK $ 0.08356 $ 0.08499 $ 0.09071 TOU-PA-2-D5 Demand Summer ON-PEAK $ 13.45 $ 13.69 $ 14.67 TOU-PA-2-D5 Demand Winter MID-PEAK $ 2.13 $ 2.17 $ 2.33 TOU-PA-2-E Energy Summer ON-PEAK $ 0.47234 $ 0.48085 $ 0.51489 TOU-PA-2-E Energy Summer MID-PEAK $ 0.13162 $ 0.13393 $ 0.14315 TOU-PA-2-E Energy Summer OFF-PEAK $ 0.08883 $ 0.09035 $ 0.09645 TOU-PA-2-E Energy Winter MID-PEAK $ 0.13090 $ 0.13319 $ 0.14236 TOU-PA-2-E Energy Winter OFF-PEAK $ 0.10520 $ 0.10703 $ 0.11432 TOU-PA-2-E Energy Winter SUPER-OFF-PEAK $ 0.09058 $ 0.09213 $ 0.09836 TOU-PA-2-E5 Energy Summer ON-PEAK $ 0.78238 $ 0.79654 $ 0.85317 TOU-PA-2-E5 Energy Summer MID-PEAK $ 0.26585 $ 0.27060 $ 0.28960 TOU-PA-2-E5 Energy Summer OFF-PEAK $ 0.08357 $ 0.08500 $ 0.09072 TOU-PA-2-E5 Energy Winter MID-PEAK $ 0.13147 $ 0.13377 $ 0.14298 TOU-PA-2-E5 Energy Winter OFF-PEAK $ 0.10566 $ 0.10749 $ 0.11482 TOU-PA-2-E5 Energy Winter SUPER-OFF-PEAK $ 0.09097 $ 0.09253 $ 0.09879 TOU-PA-2-PRI-A Energy Summer ON-PEAK $ 0.29775 $ 0.30308 $ 0.32441 TOU-PA-2-PRI-A Energy Summer MID-PEAK $ 0.13776 $ 0.14018 $ 0.14984 TOU-PA-2-PRI-A Energy Summer OFF-PEAK $ 0.09437 $ 0.09600 $ 0.10250 TOU-PA-2-PRI-A Energy Winter MID-PEAK $ 0.12786 $ 0.13009 $ 0.13904 TOU-PA-2-PRI-A Energy Winter OFF-PEAK $ 0.08561 $ 0.08707 $ 0.09294 TOU-PA-2-PRI-B Energy Summer ON-PEAK $ 0.10523 $ 0.10706 $ 0.11435 TOU-PA-2-PRI-B Energy Summer MID-PEAK $ 0.09756 $ 0.09924 $ 0.10598 TOU-PA-2-PRI-B Energy Summer OFF-PEAK $ 0.09510 $ 0.09674 $ 0.10330 TOU-PA-2-PRI-B Energy Winter MID-PEAK $ 0.12858 $ 0.13083 $ 0.13983 TOU-PA-2-PRI-B Energy Winter OFF-PEAK $ 0.08633 $ 0.08781 $ 0.09373 TOU-PA-2-PRI-B Demand Summer ON-PEAK $ 9.75 $ 9.93 $ 10.64 TOU-PA-2-PRI-B Demand Summer MID-PEAK $ 2.84 $ 2.89 $ 3.10 TOU-PA-2-PRI-D Energy Summer ON-PEAK $ 0.14271 $ 0.14522 $ 0.15525 TOU-PA-2-PRI-D Energy Summer MID-PEAK $ 0.13046 $ 0.13274 $ 0.14188 TOU-PA-2-PRI-D Energy Summer OFF-PEAK $ 0.08766 $ 0.08917 $ 0.09518 TOU-PA-2-PRI-D Energy Winter MID-PEAK $ 0.11260 $ 0.11456 $ 0.12239 TOU-PA-2-PRI-D Energy Winter OFF-PEAK $ 0.09041 $ 0.09196 $ 0.09818 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 65
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-2-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.07778 $ 0.07910 $ 0.08440 TOU-PA-2-PRI-D Demand Summer ON-PEAK $ 13.87 $ 14.12 $ 15.13 TOU-PA-2-PRI-D Demand Winter MID-PEAK $ 2.98 $ 3.04 $ 3.25 TOU-PA-2-PRI-D5 Energy Summer ON-PEAK $ 0.28031 $ 0.28532 $ 0.30537 TOU-PA-2-PRI-D5 Energy Summer MID-PEAK $ 0.26462 $ 0.26935 $ 0.28826 TOU-PA-2-PRI-D5 Energy Summer OFF-PEAK $ 0.08234 $ 0.08374 $ 0.08937 TOU-PA-2-PRI-D5 Energy Winter MID-PEAK $ 0.11934 $ 0.12142 $ 0.12975 TOU-PA-2-PRI-D5 Energy Winter OFF-PEAK $ 0.09576 $ 0.09741 $ 0.10402 TOU-PA-2-PRI-D5 Energy Winter SUPER-OFF-PEAK $ 0.08233 $ 0.08373 $ 0.08936 TOU-PA-2-PRI-D5 Demand Summer ON-PEAK $ 13.28 $ 13.52 $ 14.49 TOU-PA-2-PRI-D5 Demand Winter MID-PEAK $ 1.96 $ 2.00 $ 2.14 TOU-PA-2-PRI-E Energy Summer ON-PEAK $ 0.47045 $ 0.47893 $ 0.51283 TOU-PA-2-PRI-E Energy Summer MID-PEAK $ 0.12973 $ 0.13200 $ 0.14108 TOU-PA-2-PRI-E Energy Summer OFF-PEAK $ 0.08694 $ 0.08843 $ 0.09439 TOU-PA-2-PRI-E Energy Winter MID-PEAK $ 0.12901 $ 0.13126 $ 0.14029 TOU-PA-2-PRI-E Energy Winter OFF-PEAK $ 0.10331 $ 0.10510 $ 0.11226 TOU-PA-2-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.08868 $ 0.09021 $ 0.09630 TOU-PA-2-PRI-E5 Energy Summer ON-PEAK $ 0.78049 $ 0.79461 $ 0.85111 TOU-PA-2-PRI-E5 Energy Summer MID-PEAK $ 0.26396 $ 0.26868 $ 0.28754 TOU-PA-2-PRI-E5 Energy Summer OFF-PEAK $ 0.08168 $ 0.08307 $ 0.08865 TOU-PA-2-PRI-E5 Energy Winter MID-PEAK $ 0.12958 $ 0.13185 $ 0.14092 TOU-PA-2-PRI-E5 Energy Winter OFF-PEAK $ 0.10377 $ 0.10557 $ 0.11276 TOU-PA-2-PRI-E5 Energy Winter SUPER-OFF-PEAK $ 0.08908 $ 0.09061 $ 0.09673 TOU-PA-3-A Energy Summer ON-PEAK $ 0.26094 $ 0.26558 $ 0.28414 TOU-PA-3-A Energy Summer MID-PEAK $ 0.12049 $ 0.12259 $ 0.13096 TOU-PA-3-A Energy Summer OFF-PEAK $ 0.08426 $ 0.08570 $ 0.09144 TOU-PA-3-A Energy Winter MID-PEAK $ 0.11250 $ 0.11445 $ 0.12225 TOU-PA-3-A Energy Winter OFF-PEAK $ 0.07985 $ 0.08121 $ 0.08664 TOU-PA-3-B Energy Summer ON-PEAK $ 0.09306 $ 0.09466 $ 0.10105 TOU-PA-3-B Energy Summer MID-PEAK $ 0.08628 $ 0.08775 $ 0.09364 TOU-PA-3-B Energy Summer OFF-PEAK $ 0.08426 $ 0.08570 $ 0.09144 TOU-PA-3-B Energy Winter MID-PEAK $ 0.11250 $ 0.11445 $ 0.12225 TOU-PA-3-B Energy Winter OFF-PEAK $ 0.07985 $ 0.08121 $ 0.08664 TOU-PA-3-B Demand Summer ON-PEAK $ 10.56 $ 10.75 $ 11.51 TOU-PA-3-B Demand Summer MID-PEAK $ 3.09 $ 3.14 $ 3.37
TOU-PA-3-D Energy Summer ON-PEAK $ 0.12562 $ 0.12781 $ 0.13655 TOU-PA-3-D Energy Summer MID-PEAK $ 0.11503 $ 0.11702 $ 0.12500 TOU-PA-3-D Energy Summer OFF-PEAK $ 0.07790 $ 0.07922 $ 0.08451 TOU-PA-3-D Energy Winter MID-PEAK $ 0.09830 $ 0.10000 $ 0.10676 TOU-PA-3-D Energy Winter OFF-PEAK $ 0.09890 $ 0.10060 $ 0.10741 TOU-PA-3-D Energy Winter SUPER-OFF-PEAK $ 0.05439 $ 0.05529 $ 0.05887 TOU-PA-3-D Demand Summer ON-PEAK $ 14.99 $ 15.26 $ 16.35 TOU-PA-3-D Demand Winter MID-PEAK $ 3.24 $ 3.30 $ 3.53
TOU-PA-3-D5 Energy Summer ON-PEAK $ 0.22587 $ 0.22988 $ 0.24589 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 66
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-3-D5 Energy Summer MID-PEAK $ 0.21334 $ 0.21711 $ 0.23222 TOU-PA-3-D5 Energy Summer OFF-PEAK $ 0.07775 $ 0.07907 $ 0.08434 TOU-PA-3-D5 Energy Winter MID-PEAK $ 0.10126 $ 0.10300 $ 0.10998 TOU-PA-3-D5 Energy Winter OFF-PEAK $ 0.10187 $ 0.10363 $ 0.11065 TOU-PA-3-D5 Energy Winter SUPER-OFF-PEAK $ 0.05585 $ 0.05678 $ 0.06046 TOU-PA-3-D5 Demand Summer ON-PEAK $ 12.46 $ 12.68 $ 13.59 TOU-PA-3-D5 Demand Winter MID-PEAK $ 2.85 $ 2.90 $ 3.11 TOU-PA-3-E Energy Summer ON-PEAK $ 0.40460 $ 0.41184 $ 0.44082 TOU-PA-3-E Energy Summer MID-PEAK $ 0.11503 $ 0.11702 $ 0.12500 TOU-PA-3-E Energy Summer OFF-PEAK $ 0.07790 $ 0.07922 $ 0.08451 TOU-PA-3-E Energy Winter MID-PEAK $ 0.13827 $ 0.14068 $ 0.15035 TOU-PA-3-E Energy Winter OFF-PEAK $ 0.11116 $ 0.11309 $ 0.12079 TOU-PA-3-E Energy Winter SUPER-OFF-PEAK $ 0.04365 $ 0.04436 $ 0.04716 TOU-PA-3-E5 Energy Summer ON-PEAK $ 0.59033 $ 0.60095 $ 0.64340 TOU-PA-3-E5 Energy Summer MID-PEAK $ 0.21334 $ 0.21711 $ 0.23222 TOU-PA-3-E5 Energy Summer OFF-PEAK $ 0.07775 $ 0.07907 $ 0.08434 TOU-PA-3-E5 Energy Winter MID-PEAK $ 0.14436 $ 0.14688 $ 0.15699 TOU-PA-3-E5 Energy Winter OFF-PEAK $ 0.11602 $ 0.11803 $ 0.12608 TOU-PA-3-E5 Energy Winter SUPER-OFF-PEAK $ 0.04542 $ 0.04616 $ 0.04909 TOU-PA-3-PRI-A Energy Summer ON-PEAK $ 0.25914 $ 0.26375 $ 0.28218 TOU-PA-3-PRI-A Energy Summer MID-PEAK $ 0.11870 $ 0.12076 $ 0.12900 TOU-PA-3-PRI-A Energy Summer OFF-PEAK $ 0.08246 $ 0.08387 $ 0.08948 TOU-PA-3-PRI-A Energy Winter MID-PEAK $ 0.11070 $ 0.11262 $ 0.12028 TOU-PA-3-PRI-A Energy Winter OFF-PEAK $ 0.07805 $ 0.07938 $ 0.08468 TOU-PA-3-PRI-B Energy Summer ON-PEAK $ 0.09191 $ 0.09348 $ 0.09978 TOU-PA-3-PRI-B Energy Summer MID-PEAK $ 0.08512 $ 0.08657 $ 0.09238 TOU-PA-3-PRI-B Energy Summer OFF-PEAK $ 0.08310 $ 0.08452 $ 0.09018 TOU-PA-3-PRI-B Energy Winter MID-PEAK $ 0.11134 $ 0.11327 $ 0.12098 TOU-PA-3-PRI-B Energy Winter OFF-PEAK $ 0.07869 $ 0.08003 $ 0.08537 TOU-PA-3-PRI-B Demand Summer ON-PEAK $ 10.28 $ 10.46 $ 11.21 TOU-PA-3-PRI-B Demand Summer MID-PEAK $ 2.81 $ 2.86 $ 3.07 TOU-PA-3-PRI-D Energy Summer ON-PEAK $ 0.12446 $ 0.12663 $ 0.13529 TOU-PA-3-PRI-D Energy Summer MID-PEAK $ 0.11387 $ 0.11584 $ 0.12374 TOU-PA-3-PRI-D Energy Summer OFF-PEAK $ 0.07674 $ 0.07804 $ 0.08325 TOU-PA-3-PRI-D Energy Winter MID-PEAK $ 0.09715 $ 0.09882 $ 0.10550 TOU-PA-3-PRI-D Energy Winter OFF-PEAK $ 0.09774 $ 0.09942 $ 0.10615 TOU-PA-3-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05323 $ 0.05411 $ 0.05761 TOU-PA-3-PRI-D Demand Summer ON-PEAK $ 14.76 $ 15.03 $ 16.10 TOU-PA-3-PRI-D Demand Winter MID-PEAK $ 3.01 $ 3.07 $ 3.28 TOU-PA-3-PRI-D5 Energy Summer ON-PEAK $ 0.22461 $ 0.22859 $ 0.24452 TOU-PA-3-PRI-D5 Energy Summer MID-PEAK $ 0.21208 $ 0.21583 $ 0.23085 TOU-PA-3-PRI-D5 Energy Summer OFF-PEAK $ 0.07649 $ 0.07778 $ 0.08297 TOU-PA-3-PRI-D5 Energy Winter MID-PEAK $ 0.10000 $ 0.10172 $ 0.10861 TOU-PA-3-PRI-D5 Energy Winter OFF-PEAK $ 0.10061 $ 0.10234 $ 0.10927 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 67
Exhibit A to Resolution 23-06-048
Phase 1 and 2 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-3-PRI-D5 Energy Winter SUPER-OFF-PEAK $ 0.05459 $ 0.05549 $ 0.05909 TOU-PA-3-PRI-D5 Demand Summer ON-PEAK $ 12.27 $ 12.49 $ 13.38 TOU-PA-3-PRI-D5 Demand Winter MID-PEAK $ 2.66 $ 2.71 $ 2.90 TOU-PA-3-PRI-E Energy Summer ON-PEAK $ 0.40280 $ 0.41001 $ 0.43886 TOU-PA-3-PRI-E Energy Summer MID-PEAK $ 0.11323 $ 0.11519 $ 0.12304 TOU-PA-3-PRI-E Energy Summer OFF-PEAK $ 0.07610 $ 0.07739 $ 0.08255 TOU-PA-3-PRI-E Energy Winter MID-PEAK $ 0.13647 $ 0.13885 $ 0.14839 TOU-PA-3-PRI-E Energy Winter OFF-PEAK $ 0.10937 $ 0.11126 $ 0.11883 TOU-PA-3-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.04186 $ 0.04253 $ 0.04520 TOU-PA-3-PRI-E5 Energy Summer ON-PEAK $ 0.58854 $ 0.59912 $ 0.64144 TOU-PA-3-PRI-E5 Energy Summer MID-PEAK $ 0.21154 $ 0.21528 $ 0.23026 TOU-PA-3-PRI-E5 Energy Summer OFF-PEAK $ 0.07595 $ 0.07724 $ 0.08238 TOU-PA-3-PRI-E5 Energy Winter MID-PEAK $ 0.14256 $ 0.14505 $ 0.15503 TOU-PA-3-PRI-E5 Energy Winter OFF-PEAK $ 0.11422 $ 0.11620 $ 0.12412 TOU-PA-3-PRI-E5 Energy Winter SUPER-OFF-PEAK $ 0.04363 $ 0.04433 $ 0.04713 AL-2-F Energy All_Year NONE $ 0.08372 $ 0.08572 $ 0.09372 AL-2-GF Energy Summer ON-PEAK $ 0.19373 $ 0.19861 $ 0.21814 AL-2-GF Energy Summer OFF-PEAK $ 0.08372 $ 0.08572 $ 0.09372 AL-2-GF Energy Winter ON-PEAK $ 0.13024 $ 0.13348 $ 0.14644 AL-2-GF Energy Winter OFF-PEAK $ 0.08372 $ 0.08572 $ 0.09372 LS-1 Energy All_Year NONE $ 0.08359 $ 0.08558 $ 0.09357 LS-3 Energy All_Year NONE $ 0.08372 $ 0.08572 $ 0.09372 TC-1 Energy All_Year NONE $ 0.11790 $ 0.12100 $ 0.13340 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 68
Exhibit B to Resolution 23-06-048
Phase 1 and 2 Non-residential CARE Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN -
CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-1-A Energy Summer ON-PEAK $ 0.19566 $ 0.19958 $ 0.21525 $ 0.19958 TOU-GS-1-A Energy Summer MID-PEAK $ 0.18333 $ 0.18699 $ 0.20165 $ 0.18699 TOU-GS-1-A Energy Summer OFF-PEAK $ 0.17659 $ 0.18011 $ 0.19422 $ 0.18011 TOU-GS-1-A Energy Winter MID-PEAK $ 0.13152 $ 0.13412 $ 0.14452 $ 0.13412 TOU-GS-1-A Energy Winter OFF-PEAK $ 0.11886 $ 0.12120 $ 0.13056 $ 0.12120 TOU-GS-1-B Energy Summer ON-PEAK $ 0.10895 $ 0.11108 $ 0.11963 $ 0.11108 TOU-GS-1-B Energy Summer MID-PEAK $ 0.10222 $ 0.10422 $ 0.11221 $ 0.10422 TOU-GS-1-B Energy Summer OFF-PEAK $ 0.09854 $ 0.10047 $ 0.10816 $ 0.10047 TOU-GS-1-B Energy Winter MID-PEAK $ 0.13152 $ 0.13412 $ 0.14452 $ 0.13412 TOU-GS-1-B Energy Winter OFF-PEAK $ 0.11886 $ 0.12120 $ 0.13056 $ 0.12120 TOU-GS-1-B Demand Summer ON-PEAK $ 14.74 $ 15.04 $ 16.25 $ 15.04 TOU-GS-1-B Demand Summer MID-PEAK $ 4.80 $ 4.89 $ 5.29 $ 4.89 TOU-GS-1-D Energy Summer ON-PEAK $ 0.14745 $ 0.15038 $ 0.16209 $ 0.15038 TOU-GS-1-D Energy Summer MID-PEAK $ 0.13362 $ 0.13626 $ 0.14684 $ 0.13626 TOU-GS-1-D Energy Summer OFF-PEAK $ 0.08928 $ 0.09102 $ 0.09795 $ 0.09102 TOU-GS-1-D Energy Winter MID-PEAK $ 0.13911 $ 0.14187 $ 0.15289 $ 0.14187 TOU-GS-1-D Energy Winter OFF-PEAK $ 0.09967 $ 0.10161 $ 0.10940 $ 0.10161 TOU-GS-1-D Energy Winter SUPER-OFF-PEAK $ 0.07581 $ 0.07726 $ 0.08309 $ 0.07726 TOU-GS-1-D Demand Summer ON-PEAK $ 20.08 $ 20.49 $ 22.14 $ 20.49 TOU-GS-1-D Demand Winter MID-PEAK $ 6.17 $ 6.29 $ 6.80 $ 6.29 TOU-GS-1-E Energy Summer ON-PEAK $ 0.53646 $ 0.54738 $ 0.59105 $ 0.54738 TOU-GS-1-E Energy Summer MID-PEAK $ 0.14645 $ 0.14936 $ 0.16098 $ 0.14936 TOU-GS-1-E Energy Summer OFF-PEAK $ 0.10610 $ 0.10818 $ 0.11649 $ 0.10818 TOU-GS-1-E Energy Winter MID-PEAK $ 0.21970 $ 0.22411 $ 0.24175 $ 0.22411 TOU-GS-1-E Energy Winter OFF-PEAK $ 0.12424 $ 0.12669 $ 0.13649 $ 0.12669 TOU-GS-1-E Energy Winter SUPER-OFF-PEAK $ 0.06757 $ 0.06885 $ 0.07400 $ 0.06885 TOU-GS-1-ES Energy Summer ON-PEAK $ 0.57911 $ 0.59091 $ 0.63809 $ 0.59091 TOU-GS-1-ES Energy Summer MID-PEAK $ 0.15797 $ 0.16112 $ 0.17369 $ 0.16112 TOU-GS-1-ES Energy Summer OFF-PEAK $ 0.11425 $ 0.11649 $ 0.12547 $ 0.11649 TOU-GS-1-ES Energy Winter MID-PEAK $ 0.20540 $ 0.20952 $ 0.22599 $ 0.20952 TOU-GS-1-ES Energy Winter OFF-PEAK $ 0.11642 $ 0.11871 $ 0.12786 $ 0.11871 TOU-GS-1-ES Energy Winter SUPER-OFF-PEAK $ 0.06333 $ 0.06453 $ 0.06933 $ 0.06453 TOU-GS-1-PRI-A Energy Summer ON-PEAK $ 0.19405 $ 0.19794 $ 0.21347 $ 0.19794 TOU-GS-1-PRI-A Energy Summer MID-PEAK $ 0.18172 $ 0.18535 $ 0.19987 $ 0.18535 TOU-GS-1-PRI-A Energy Summer OFF-PEAK $ 0.17498 $ 0.17847 $ 0.19244 $ 0.17847 TOU-GS-1-PRI-A Energy Winter MID-PEAK $ 0.12991 $ 0.13248 $ 0.14274 $ 0.13248 TOU-GS-1-PRI-A Energy Winter OFF-PEAK $ 0.11725 $ 0.11956 $ 0.12879 $ 0.11956 TOU-GS-1-PRI-B Energy Summer ON-PEAK $ 0.10837 $ 0.11050 $ 0.11900 $ 0.11050 TOU-GS-1-PRI-B Energy Summer MID-PEAK $ 0.10165 $ 0.10363 $ 0.11158 $ 0.10363 TOU-GS-1-PRI-B Energy Summer OFF-PEAK $ 0.09797 $ 0.09988 $ 0.10753 $ 0.09988 TOU-GS-1-PRI-B Energy Winter MID-PEAK $ 0.13095 $ 0.13354 $ 0.14389 $ 0.13354 TOU-GS-1-PRI-B Energy Winter OFF-PEAK $ 0.11829 $ 0.12062 $ 0.12993 $ 0.12062 TOU-GS-1-PRI-B Demand Summer ON-PEAK $ 14.48 $ 14.78 $ 15.97 $ 14.78 TOU-GS-1-PRI-B Demand Summer MID-PEAK $ 4.54 $ 4.63 $ 5.01 $ 4.63 TOU-GS-1-PRI-D Energy Summer ON-PEAK $ 0.14688 $ 0.14979 $ 0.16146 $ 0.14979 TOU-GS-1-PRI-D Energy Summer MID-PEAK $ 0.13305 $ 0.13568 $ 0.14621 $ 0.13568 TOU-GS-1-PRI-D Energy Summer OFF-PEAK $ 0.08871 $ 0.09043 $ 0.09732 $ 0.09043 TOU-GS-1-PRI-D Energy Winter MID-PEAK $ 0.13854 $ 0.14129 $ 0.15226 $ 0.14129 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 69
Exhibit B to Resolution 23-06-048
Phase 1 and 2 Non-residential CARE Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN -
CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-1-PRI-D Energy Winter OFF-PEAK $ 0.09910 $ 0.10103 $ 0.10877 $ 0.10103 TOU-GS-1-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.07524 $ 0.07668 $ 0.08246 $ 0.07668 TOU-GS-1-PRI-D Demand Summer ON-PEAK $ 19.89 $ 20.30 $ 21.93 $ 20.30 TOU-GS-1-PRI-D Demand Winter MID-PEAK $ 5.98 $ 6.10 $ 6.59 $ 6.10 TOU-GS-1-PRI-E Energy Summer ON-PEAK $ 0.53485 $ 0.54574 $ 0.58928 $ 0.54574 TOU-GS-1-PRI-E Energy Summer MID-PEAK $ 0.14484 $ 0.14771 $ 0.15921 $ 0.14771 TOU-GS-1-PRI-E Energy Summer OFF-PEAK $ 0.10449 $ 0.10654 $ 0.11472 $ 0.10654 TOU-GS-1-PRI-E Energy Winter MID-PEAK $ 0.21809 $ 0.22247 $ 0.23998 $ 0.22247 TOU-GS-1-PRI-E Energy Winter OFF-PEAK $ 0.12263 $ 0.12505 $ 0.13472 $ 0.12505 TOU-GS-1-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.06596 $ 0.06721 $ 0.07223 $ 0.06721 TOU-GS-1-PRI-ES Energy Summer ON-PEAK $ 0.57750 $ 0.58927 $ 0.63631 $ 0.58927 TOU-GS-1-PRI-ES Energy Summer MID-PEAK $ 0.15637 $ 0.15948 $ 0.17192 $ 0.15948 TOU-GS-1-PRI-ES Energy Summer OFF-PEAK $ 0.11264 $ 0.11485 $ 0.12370 $ 0.11485 TOU-GS-1-PRI-ES Energy Winter MID-PEAK $ 0.20380 $ 0.20788 $ 0.22422 $ 0.20788 TOU-GS-1-PRI-ES Energy Winter OFF-PEAK $ 0.11481 $ 0.11706 $ 0.12609 $ 0.11706 TOU-GS-1-PRI-ES Energy Winter SUPER-OFF-PEAK $ 0.06172 $ 0.06289 $ 0.06756 $ 0.06289 TOU-GS-1-SUB-A Energy Summer ON-PEAK $ 0.19216 $ 0.19600 $ 0.21139 $ 0.19600 TOU-GS-1-SUB-A Energy Summer MID-PEAK $ 0.17982 $ 0.18342 $ 0.19779 $ 0.18342 TOU-GS-1-SUB-A Energy Summer OFF-PEAK $ 0.17309 $ 0.17654 $ 0.19036 $ 0.17654 TOU-GS-1-SUB-A Energy Winter MID-PEAK $ 0.12802 $ 0.13054 $ 0.14066 $ 0.13054 TOU-GS-1-SUB-A Energy Winter OFF-PEAK $ 0.11536 $ 0.11763 $ 0.12670 $ 0.11763 TOU-GS-1-SUB-B Energy Summer ON-PEAK $ 0.10783 $ 0.10995 $ 0.11840 $ 0.10995 TOU-GS-1-SUB-B Energy Summer MID-PEAK $ 0.10110 $ 0.10308 $ 0.11098 $ 0.10308 TOU-GS-1-SUB-B Energy Summer OFF-PEAK $ 0.09743 $ 0.09933 $ 0.10693 $ 0.09933 TOU-GS-1-SUB-B Energy Winter MID-PEAK $ 0.13040 $ 0.13298 $ 0.14329 $ 0.13298 TOU-GS-1-SUB-B Energy Winter OFF-PEAK $ 0.11775 $ 0.12007 $ 0.12933 $ 0.12007 TOU-GS-1-SUB-B Demand Summer ON-PEAK $ 14.15 $ 14.44 $ 15.60 $ 14.44 TOU-GS-1-SUB-B Demand Summer MID-PEAK $ 4.21 $ 4.29 $ 4.64 $ 4.29 TOU-GS-1-SUB-D Energy Summer ON-PEAK $ 0.14634 $ 0.14924 $ 0.16086 $ 0.14924 TOU-GS-1-SUB-D Energy Summer MID-PEAK $ 0.13251 $ 0.13513 $ 0.14561 $ 0.13513 TOU-GS-1-SUB-D Energy Summer OFF-PEAK $ 0.08817 $ 0.08988 $ 0.09672 $ 0.08988 TOU-GS-1-SUB-D Energy Winter MID-PEAK $ 0.13800 $ 0.14073 $ 0.15166 $ 0.14073 TOU-GS-1-SUB-D Energy Winter OFF-PEAK $ 0.09855 $ 0.10048 $ 0.10817 $ 0.10048 TOU-GS-1-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.07470 $ 0.07613 $ 0.08186 $ 0.07613 TOU-GS-1-SUB-D Demand Summer ON-PEAK $ 19.63 $ 20.04 $ 21.65 $ 20.04 TOU-GS-1-SUB-D Demand Winter MID-PEAK $ 5.72 $ 5.84 $ 6.31 $ 5.84 TOU-GS-1-SUB-E Energy Summer ON-PEAK $ 0.53296 $ 0.54380 $ 0.58719 $ 0.54380 TOU-GS-1-SUB-E Energy Summer MID-PEAK $ 0.14295 $ 0.14578 $ 0.15712 $ 0.14578 TOU-GS-1-SUB-E Energy Summer OFF-PEAK $ 0.10260 $ 0.10460 $ 0.11263 $ 0.10460 TOU-GS-1-SUB-E Energy Winter MID-PEAK $ 0.21620 $ 0.22053 $ 0.23789 $ 0.22053 TOU-GS-1-SUB-E Energy Winter OFF-PEAK $ 0.12074 $ 0.12311 $ 0.13263 $ 0.12311 TOU-GS-1-SUB-E Energy Winter SUPER-OFF-PEAK $ 0.06407 $ 0.06528 $ 0.07014 $ 0.06528 TOU-GS-2-B Energy Summer ON-PEAK $ 0.10429 $ 0.10640 $ 0.11482 $ 0.10640 TOU-GS-2-B Energy Summer MID-PEAK $ 0.09790 $ 0.09987 $ 0.10774 $ 0.09987 TOU-GS-2-B Energy Summer OFF-PEAK $ 0.09439 $ 0.09629 $ 0.10387 $ 0.09629 TOU-GS-2-B Energy Winter MID-PEAK $ 0.12560 $ 0.12816 $ 0.13839 $ 0.12816 TOU-GS-2-B Energy Winter OFF-PEAK $ 0.07633 $ 0.07785 $ 0.08389 $ 0.07785 TOU-GS-2-B Demand Summer ON-PEAK $ 17.63 $ 18.00 $ 19.50 $ 18.00 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 70
Exhibit B to Resolution 23-06-048
Phase 1 and 2 Non-residential CARE Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN -
CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-2-B Demand Summer MID-PEAK $ 5.92 $ 6.05 $ 6.55 $ 6.05 TOU-GS-2-D Energy Summer ON-PEAK $ 0.14213 $ 0.14504 $ 0.15667 $ 0.14504 TOU-GS-2-D Energy Summer MID-PEAK $ 0.13004 $ 0.13269 $ 0.14330 $ 0.13269 TOU-GS-2-D Energy Summer OFF-PEAK $ 0.08530 $ 0.08700 $ 0.09380 $ 0.08700 TOU-GS-2-D Energy Winter MID-PEAK $ 0.09762 $ 0.09959 $ 0.10744 $ 0.09959 TOU-GS-2-D Energy Winter OFF-PEAK $ 0.09818 $ 0.10016 $ 0.10806 $ 0.10016 TOU-GS-2-D Energy Winter SUPER-OFF-PEAK $ 0.05401 $ 0.05505 $ 0.05920 $ 0.05505 TOU-GS-2-D Demand Summer ON-PEAK $ 25.42 $ 25.96 $ 28.12 $ 25.96 TOU-GS-2-D Demand Winter MID-PEAK $ 6.67 $ 6.81 $ 7.38 $ 6.81 TOU-GS-2-E Energy Summer ON-PEAK $ 0.46526 $ 0.47503 $ 0.51413 $ 0.47503 TOU-GS-2-E Energy Summer MID-PEAK $ 0.13004 $ 0.13269 $ 0.14330 $ 0.13269 TOU-GS-2-E Energy Summer OFF-PEAK $ 0.08530 $ 0.08700 $ 0.09380 $ 0.08700 TOU-GS-2-E Energy Winter MID-PEAK $ 0.14885 $ 0.15190 $ 0.16410 $ 0.15190 TOU-GS-2-E Energy Winter OFF-PEAK $ 0.09818 $ 0.10016 $ 0.10806 $ 0.10016 TOU-GS-2-E Energy Winter SUPER-OFF-PEAK $ 0.05401 $ 0.05505 $ 0.05920 $ 0.05505 TOU-GS-2-E Demand Summer ON-PEAK $ 7.15 $ 7.30 $ 7.91 $ 7.30 TOU-GS-2-E Demand Winter MID-PEAK $ 2.77 $ 2.82 $ 3.06 $ 2.82 TOU-GS-2-PRI-B Energy Summer ON-PEAK $ 0.10315 $ 0.10523 $ 0.11356 $ 0.10523 TOU-GS-2-PRI-B Energy Summer MID-PEAK $ 0.09676 $ 0.09870 $ 0.10648 $ 0.09870 TOU-GS-2-PRI-B Energy Summer OFF-PEAK $ 0.09325 $ 0.09512 $ 0.10260 $ 0.09512 TOU-GS-2-PRI-B Energy Winter MID-PEAK $ 0.12446 $ 0.12699 $ 0.13713 $ 0.12699 TOU-GS-2-PRI-B Energy Winter OFF-PEAK $ 0.07519 $ 0.07668 $ 0.08263 $ 0.07668 TOU-GS-2-PRI-B Demand Summer ON-PEAK $ 16.93 $ 17.29 $ 18.72 $ 17.29 TOU-GS-2-PRI-B Demand Summer MID-PEAK $ 5.22 $ 5.33 $ 5.77 $ 5.33 TOU-GS-2-PRI-D Energy Summer ON-PEAK $ 0.14099 $ 0.14387 $ 0.15541 $ 0.14387 TOU-GS-2-PRI-D Energy Summer MID-PEAK $ 0.12890 $ 0.13153 $ 0.14204 $ 0.13153 TOU-GS-2-PRI-D Energy Summer OFF-PEAK $ 0.08416 $ 0.08583 $ 0.09254 $ 0.08583 TOU-GS-2-PRI-D Energy Winter MID-PEAK $ 0.09648 $ 0.09842 $ 0.10618 $ 0.09842 TOU-GS-2-PRI-D Energy Winter OFF-PEAK $ 0.09704 $ 0.09899 $ 0.10680 $ 0.09899 TOU-GS-2-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05287 $ 0.05388 $ 0.05793 $ 0.05388 TOU-GS-2-PRI-D Demand Summer ON-PEAK $ 24.84 $ 25.37 $ 27.48 $ 25.37 TOU-GS-2-PRI-D Demand Winter MID-PEAK $ 6.52 $ 6.66 $ 7.21 $ 6.66 TOU-GS-2-PRI-E Energy Summer ON-PEAK $ 0.46357 $ 0.47331 $ 0.51225 $ 0.47331 TOU-GS-2-PRI-E Energy Summer MID-PEAK $ 0.12835 $ 0.13096 $ 0.14143 $ 0.13096 TOU-GS-2-PRI-E Energy Summer OFF-PEAK $ 0.08360 $ 0.08527 $ 0.09193 $ 0.08527 TOU-GS-2-PRI-E Energy Winter MID-PEAK $ 0.14716 $ 0.15017 $ 0.16223 $ 0.15017 TOU-GS-2-PRI-E Energy Winter OFF-PEAK $ 0.09649 $ 0.09843 $ 0.10619 $ 0.09843 TOU-GS-2-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.05232 $ 0.05332 $ 0.05732 $ 0.05332 TOU-GS-2-PRI-E Demand Summer ON-PEAK $ 6.91 $ 7.06 $ 7.64 $ 7.06 TOU-GS-2-PRI-E Demand Winter MID-PEAK $ 2.70 $ 2.76 $ 2.99 $ 2.76 TOU-GS-2-PRI-R Energy Summer ON-PEAK $ 0.33421 $ 0.34119 $ 0.36915 $ 0.34119 TOU-GS-2-PRI-R Energy Summer MID-PEAK $ 0.16002 $ 0.16331 $ 0.17647 $ 0.16331 TOU-GS-2-PRI-R Energy Summer OFF-PEAK $ 0.09152 $ 0.09335 $ 0.10069 $ 0.09335 TOU-GS-2-PRI-R Energy Winter MID-PEAK $ 0.12273 $ 0.12523 $ 0.13522 $ 0.12523 TOU-GS-2-PRI-R Energy Winter OFF-PEAK $ 0.07346 $ 0.07491 $ 0.08072 $ 0.07491 TOU-GS-2-R Energy Summer ON-PEAK $ 0.33708 $ 0.34413 $ 0.37233 $ 0.34413 TOU-GS-2-R Energy Summer MID-PEAK $ 0.16289 $ 0.16624 $ 0.17964 $ 0.16624 TOU-GS-2-R Energy Summer OFF-PEAK $ 0.09439 $ 0.09629 $ 0.10387 $ 0.09629 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 71
Exhibit B to Resolution 23-06-048
Phase 1 and 2 Non-residential CARE Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN -
CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-2-R Energy Winter MID-PEAK $ 0.12560 $ 0.12816 $ 0.13839 $ 0.12816 TOU-GS-2-R Energy Winter OFF-PEAK $ 0.07633 $ 0.07785 $ 0.08389 $ 0.07785 TOU-GS-2-SUB-B Energy Summer ON-PEAK $ 0.10180 $ 0.10386 $ 0.11207 $ 0.10386 TOU-GS-2-SUB-B Energy Summer MID-PEAK $ 0.09541 $ 0.09732 $ 0.10499 $ 0.09732 TOU-GS-2-SUB-B Energy Summer OFF-PEAK $ 0.09190 $ 0.09374 $ 0.10111 $ 0.09374 TOU-GS-2-SUB-B Energy Winter MID-PEAK $ 0.12311 $ 0.12562 $ 0.13564 $ 0.12562 TOU-GS-2-SUB-B Energy Winter OFF-PEAK $ 0.07384 $ 0.07530 $ 0.08114 $ 0.07530 TOU-GS-2-SUB-B Demand Summer ON-PEAK $ 15.99 $ 16.33 $ 17.69 $ 16.33 TOU-GS-2-SUB-B Demand Summer MID-PEAK $ 4.29 $ 4.38 $ 4.74 $ 4.38 TOU-GS-2-SUB-D Energy Summer ON-PEAK $ 0.13964 $ 0.14249 $ 0.15392 $ 0.14249 TOU-GS-2-SUB-D Energy Summer MID-PEAK $ 0.12755 $ 0.13015 $ 0.14055 $ 0.13015 TOU-GS-2-SUB-D Energy Summer OFF-PEAK $ 0.08281 $ 0.08445 $ 0.09105 $ 0.08445 TOU-GS-2-SUB-D Energy Winter MID-PEAK $ 0.09513 $ 0.09704 $ 0.10469 $ 0.09704 TOU-GS-2-SUB-D Energy Winter OFF-PEAK $ 0.09569 $ 0.09762 $ 0.10531 $ 0.09762 TOU-GS-2-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.05152 $ 0.05250 $ 0.05644 $ 0.05250 TOU-GS-2-SUB-D Demand Summer ON-PEAK $ 24.08 $ 24.59 $ 26.64 $ 24.59 TOU-GS-2-SUB-D Demand Winter MID-PEAK $ 6.32 $ 6.45 $ 6.99 $ 6.45 TOU-GS-3-B Energy Summer ON-PEAK $ 0.09986 $ 0.10174 $ 0.10922 $ 0.10174 TOU-GS-3-B Energy Summer MID-PEAK $ 0.09358 $ 0.09533 $ 0.10232 $ 0.09533 TOU-GS-3-B Energy Summer OFF-PEAK $ 0.09038 $ 0.09207 $ 0.09880 $ 0.09207 TOU-GS-3-B Energy Winter MID-PEAK $ 0.12540 $ 0.12777 $ 0.13728 $ 0.12777 TOU-GS-3-B Energy Winter OFF-PEAK $ 0.07516 $ 0.07654 $ 0.08208 $ 0.07654 TOU-GS-3-B Demand Summer ON-PEAK $ 14.67 $ 14.96 $ 16.12 $ 14.96 TOU-GS-3-B Demand Summer MID-PEAK $ 4.90 $ 5.00 $ 5.38 $ 5.00 TOU-GS-3-D Energy Summer ON-PEAK $ 0.13249 $ 0.13501 $ 0.14507 $ 0.13501 TOU-GS-3-D Energy Summer MID-PEAK $ 0.12126 $ 0.12356 $ 0.13273 $ 0.12356 TOU-GS-3-D Energy Summer OFF-PEAK $ 0.08353 $ 0.08508 $ 0.09128 $ 0.08508 TOU-GS-3-D Energy Winter MID-PEAK $ 0.09561 $ 0.09740 $ 0.10455 $ 0.09740 TOU-GS-3-D Energy Winter OFF-PEAK $ 0.09617 $ 0.09797 $ 0.10516 $ 0.09797 TOU-GS-3-D Energy Winter SUPER-OFF-PEAK $ 0.05291 $ 0.05385 $ 0.05763 $ 0.05385 TOU-GS-3-D Demand Summer ON-PEAK $ 21.89 $ 22.33 $ 24.05 $ 22.33 TOU-GS-3-D Demand Winter MID-PEAK $ 7.92 $ 8.08 $ 8.70 $ 8.08 TOU-GS-3-E Energy Summer ON-PEAK $ 0.38152 $ 0.38895 $ 0.41868 $ 0.38895 TOU-GS-3-E Energy Summer MID-PEAK $ 0.12126 $ 0.12356 $ 0.13273 $ 0.12356 TOU-GS-3-E Energy Summer OFF-PEAK $ 0.08353 $ 0.08508 $ 0.09128 $ 0.08508 TOU-GS-3-E Energy Winter MID-PEAK $ 0.15084 $ 0.15372 $ 0.16523 $ 0.15372 TOU-GS-3-E Energy Winter OFF-PEAK $ 0.09617 $ 0.09797 $ 0.10516 $ 0.09797 TOU-GS-3-E Energy Winter SUPER-OFF-PEAK $ 0.05291 $ 0.05385 $ 0.05763 $ 0.05385 TOU-GS-3-E Demand Summer ON-PEAK $ 6.16 $ 6.28 $ 6.76 $ 6.28 TOU-GS-3-E Demand Winter MID-PEAK $ 3.28 $ 3.34 $ 3.60 $ 3.34 TOU-GS-3-PRI-B Energy Summer ON-PEAK $ 0.09872 $ 0.10057 $ 0.10797 $ 0.10057 TOU-GS-3-PRI-B Energy Summer MID-PEAK $ 0.09244 $ 0.09417 $ 0.10107 $ 0.09417 TOU-GS-3-PRI-B Energy Summer OFF-PEAK $ 0.08924 $ 0.09090 $ 0.09755 $ 0.09090 TOU-GS-3-PRI-B Energy Winter MID-PEAK $ 0.12425 $ 0.12661 $ 0.13602 $ 0.12661 TOU-GS-3-PRI-B Energy Winter OFF-PEAK $ 0.07402 $ 0.07538 $ 0.08082 $ 0.07538 TOU-GS-3-PRI-B Demand Summer ON-PEAK $ 14.06 $ 14.34 $ 15.45 $ 14.34 TOU-GS-3-PRI-B Demand Summer MID-PEAK $ 4.29 $ 4.37 $ 4.71 $ 4.37 TOU-GS-3-PRI-D Energy Summer ON-PEAK $ 0.13135 $ 0.13384 $ 0.14381 $ 0.13384 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 72
Exhibit B to Resolution 23-06-048
Phase 1 and 2 Non-residential CARE Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN -
CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-3-PRI-D Energy Summer MID-PEAK $ 0.12012 $ 0.12239 $ 0.13148 $ 0.12239 TOU-GS-3-PRI-D Energy Summer OFF-PEAK $ 0.08238 $ 0.08391 $ 0.09002 $ 0.08391 TOU-GS-3-PRI-D Energy Winter MID-PEAK $ 0.09447 $ 0.09624 $ 0.10330 $ 0.09624 TOU-GS-3-PRI-D Energy Winter OFF-PEAK $ 0.09502 $ 0.09680 $ 0.10390 $ 0.09680 TOU-GS-3-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05176 $ 0.05268 $ 0.05637 $ 0.05268 TOU-GS-3-PRI-D Demand Summer ON-PEAK $ 21.39 $ 21.81 $ 23.50 $ 21.81 TOU-GS-3-PRI-D Demand Winter MID-PEAK $ 7.73 $ 7.88 $ 8.49 $ 7.88 TOU-GS-3-PRI-E Energy Summer ON-PEAK $ 0.37943 $ 0.38682 $ 0.41638 $ 0.38682 TOU-GS-3-PRI-E Energy Summer MID-PEAK $ 0.11917 $ 0.12143 $ 0.13044 $ 0.12143 TOU-GS-3-PRI-E Energy Summer OFF-PEAK $ 0.08144 $ 0.08295 $ 0.08898 $ 0.08295 TOU-GS-3-PRI-E Energy Winter MID-PEAK $ 0.14875 $ 0.15159 $ 0.16293 $ 0.15159 TOU-GS-3-PRI-E Energy Winter OFF-PEAK $ 0.09408 $ 0.09584 $ 0.10287 $ 0.09584 TOU-GS-3-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.05082 $ 0.05172 $ 0.05534 $ 0.05172 TOU-GS-3-PRI-E Demand Summer ON-PEAK $ 5.95 $ 6.06 $ 6.53 $ 6.06 TOU-GS-3-PRI-E Demand Winter MID-PEAK $ 3.20 $ 3.27 $ 3.52 $ 3.27 TOU-GS-3-PRI-R Energy Summer ON-PEAK $ 0.27803 $ 0.28342 $ 0.30497 $ 0.28342 TOU-GS-3-PRI-R Energy Summer MID-PEAK $ 0.13840 $ 0.14103 $ 0.15156 $ 0.14103 TOU-GS-3-PRI-R Energy Summer OFF-PEAK $ 0.08794 $ 0.08958 $ 0.09612 $ 0.08958 TOU-GS-3-PRI-R Energy Winter MID-PEAK $ 0.12296 $ 0.12529 $ 0.13460 $ 0.12529 TOU-GS-3-PRI-R Energy Winter OFF-PEAK $ 0.07272 $ 0.07406 $ 0.07940 $ 0.07406 TOU-GS-3-R Energy Summer ON-PEAK $ 0.28047 $ 0.28591 $ 0.30765 $ 0.28591 TOU-GS-3-R Energy Summer MID-PEAK $ 0.14084 $ 0.14352 $ 0.15424 $ 0.14352 TOU-GS-3-R Energy Summer OFF-PEAK $ 0.09038 $ 0.09207 $ 0.09880 $ 0.09207 TOU-GS-3-R Energy Winter MID-PEAK $ 0.12540 $ 0.12777 $ 0.13728 $ 0.12777 TOU-GS-3-R Energy Winter OFF-PEAK $ 0.07516 $ 0.07654 $ 0.08208 $ 0.07654 TOU-GS-3-SUB-D Energy Summer ON-PEAK $ 0.13000 $ 0.13247 $ 0.14234 $ 0.13247 TOU-GS-3-SUB-D Energy Summer MID-PEAK $ 0.11877 $ 0.12102 $ 0.13000 $ 0.12102 TOU-GS-3-SUB-D Energy Summer OFF-PEAK $ 0.08104 $ 0.08254 $ 0.08854 $ 0.08254 TOU-GS-3-SUB-D Energy Winter MID-PEAK $ 0.09313 $ 0.09487 $ 0.10182 $ 0.09487 TOU-GS-3-SUB-D Energy Winter OFF-PEAK $ 0.09368 $ 0.09543 $ 0.10243 $ 0.09543 TOU-GS-3-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.05042 $ 0.05131 $ 0.05490 $ 0.05131 TOU-GS-3-SUB-D Demand Summer ON-PEAK $ 20.72 $ 21.13 $ 22.77 $ 21.13 TOU-GS-3-SUB-D Demand Winter MID-PEAK $ 7.49 $ 7.64 $ 8.23 $ 7.64 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 73
Exhibit C to Resolution 23-06-048
Phase 1 and 2 Peak Management Pricing (PMP) Rate Schedules Effective July 1, 2023 CPA RATE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-GS-1 Energy Credit Summer On-Peak $ (0.17054) $ (0.17054) $ (0.17054) TOU-GS-2 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-GS-2 Demand Credit Summer On-Peak $ (8.56) $ (8.56) $ (8.56) TOU-GS-3 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-GS-3 Demand Credit Summer On-Peak $ (9.44) $ (9.44) $ (9.44) TOU-8-SEC Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-8-SEC Demand Credit Summer On-Peak $ (10.28) $ (10.28) $ (10.28) TOU-8-PRI Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-8-PRI Demand Credit Summer On-Peak $ (10.65) $ (10.65) $ (10.65) TOU-8-SUB Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-8-SUB Demand Credit Summer On-Peak $ (10.55) $ (10.55) $ (10.55) TOU-PA-2 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-PA-2 Demand Credit Summer On-Peak $ (7.10) $ (7.10) $ (7.10) TOU-PA-3 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-PA-3 Demand Credit Summer On-Peak $ (7.73) $ (7.73) $ (7.73) Credit is applied to peak demand charge in $/kW, except TOU-GS-1 customers for which it is applied to on-peak energy charges in ($/kWh). Rates apply equally to all service voltages.
Agenda Page 74
RESO NO. 23-06-049
RESOLUTION NO. 23-06-049
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA
TO APPROVE 2023 RATES FOR PHASES 3 & 5
RESIDENTIAL CUSTOMERS
THE BOARD OF DIRECTORS OF THE CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA DOES HEREBY FIND, RESOLVE, AND ORDER AS FOLLOWS:
WHEREAS, the Clean Power Alliance of Southern California (formerly known as Los Angeles Community Choice Energy Authority) (“Clean Power Alliance” or “CPA”) was formed on June 27, 2017;
WHEREAS, on February 1, 2019, Phase 3 commenced with the enrollment of all residential customers in CPA’s territory at that time, necessitating the adoption of Phase 3 residential rates;
WHEREAS, on June 1, 2020, Phase 5 commenced with the enrollment of all customers in Westlake Village, necessitating the adoption of Phase 5 residential rates; WHEREAS, on December 7, 2020, the Board approved the Power Share Tariff which would provide a 20 percent discount to eligible customers on their generation and delivery charges and require that Power Share rates be adjusted to maintain the 20 percent discount whenever the otherwise applicable CPA or SCE rates change; and authorized the Chief Executive Officer to change the rates to maintain the 20 percent discount;
WHEREAS, on May 4, 2023, the Board approved a FY 2023-2024 rate setting approach that based on representative customer load profiles and customer usage:
a. Set the CPA target rate product differential between 100% Green Power rate product and Clean Power rate product to 4% and the target price differential between 100% Green Power rate product and Lean Power rate product to 5% as informed by CPA’s projected FY 2023-24 cost of service (COS),
b. Direct staff to develop rates for each of CPA’s three rate products for residential and small and medium business customers1 such that the 100% Green rate product targets at a 3% total bill premium compared to Southern California Edison (“SCE”) base rates as of March 1, 2023, Clean Power at a 1% total bill discount target compared to SCE base rates as of March 1, 2023, and Lean Power at a 2% total bill discount target compared to SCE base rates as of March 1, 2023, for customers on the 2018 Power 1 Small and medium businesses are considered to be on the TOU-GS-1 and TOU-GS-2 rate schedules.
Agenda Page 75
RESO NO. 23-06-049
Charge Indifference Adjustment vintage,
c. Update rates for large commercial, pumping and agriculture, and streetlighting customer2 rate classes (“Subset Customers”) to reflect CPA’s projected FY 2023-24 COS, and,
d. Set total bill comparisons for customers in the cities of Hermosa Beach, Monrovia, and Santa Paula at the same total bill comparison levels as customers of the current member agencies.
(subsections (a)-(d) are collectively referred to as “Rate Setting Approach”) WHEREAS, staff anticipates that SCE will change its rates or charges effective June 1, 2023, and recognizes that SCE may change its rates from time to time, which can impact Power Share rates requiring CPA to make corresponding changes.
NOW THEREFORE, BE IT DETERMINED, ORDERED, AND RESOLVED,
BY THE BOARD OF DIRECTORS OF THE CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA THAT:
1. The Rate Setting Approach for FY 2023-2024 will apply to all rates for Phases 3 and 5 customers.
2. The proposed Phases 3 & 5 rate schedules as presented in Exhibit A are hereby approved effective July 1, 2023.
3. The proposed Phases 3 & 5 rate schedules for CARE, FERA, and Medical Baseline customers as presented in Exhibit B are hereby approved effective July 1, 2023.
4. The proposed Power Share Rates for Phases 3 and 5 as presented in Exhibit C are hereby approved effective July 1, 2023, and the Chief Executive Officer is delegated authority to amend Power Share Rates from time to time.
APPROVED AND ADOPTED this 1st day of June 2023.
Julian Gold, Chair
ATTEST:
Gabriela Monzon, Secretary
2 Subset Customers are on TOU-8 and TOU-GS-3 rate classes for Phase 1 and 2 customers in Rolling Hills Estates, South Pasadena, and unincorporated Los Angeles County; and TOU-8, TOU-GS-3, TOU-PA-2, TOU-PA-3, and LS-1 rate classes for customers in the other parts of CPA’s service territory.
Agenda Page 76
Exhibit A to Resolution 23-06-049
Phase 3 and 5 Residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
DOMESTIC Energy All_Year NONE $ 0.15093 $ 0.15429 $ 0.16776 TOU-D-4 Energy Summer ON-PEAK $ 0.27468 $ 0.28090 $ 0.30575 TOU-D-4 Energy Summer MID-PEAK $ 0.17249 $ 0.17636 $ 0.19180 TOU-D-4 Energy Summer OFF-PEAK $ 0.11265 $ 0.11514 $ 0.12508 TOU-D-4 Energy Winter MID-PEAK $ 0.21060 $ 0.21534 $ 0.23429 TOU-D-4 Energy Winter OFF-PEAK $ 0.13589 $ 0.13891 $ 0.15099 TOU-D-4 Energy Winter SUPER-OFF-PEAK $ 0.11733 $ 0.11992 $ 0.13030 TOU-D-5 Energy Summer ON-PEAK $ 0.40755 $ 0.41682 $ 0.45390 TOU-D-5 Energy Summer MID-PEAK $ 0.23731 $ 0.24266 $ 0.26407 TOU-D-5 Energy Summer OFF-PEAK $ 0.10460 $ 0.10690 $ 0.11610 TOU-D-5 Energy Winter MID-PEAK $ 0.29068 $ 0.29726 $ 0.32358 TOU-D-5 Energy Winter OFF-PEAK $ 0.13485 $ 0.13785 $ 0.14984 TOU-D-5 Energy Winter SUPER-OFF-PEAK $ 0.10639 $ 0.10873 $ 0.11810 TOU-D-A Energy Summer ON-PEAK $ 0.34279 $ 0.35057 $ 0.38169 TOU-D-A Energy Summer OFF-PEAK $ 0.14585 $ 0.14910 $ 0.16210 TOU-D-A Energy Summer SUPER-OFF-PEAK $ 0.10410 $ 0.10639 $ 0.11554 TOU-D-A Energy Winter ON-PEAK $ 0.20549 $ 0.21011 $ 0.22860 TOU-D-A Energy Winter OFF-PEAK $ 0.11217 $ 0.11464 $ 0.12454 TOU-D-A Energy Winter SUPER-OFF-PEAK $ 0.10639 $ 0.10873 $ 0.11810 TOU-D-B Energy Summer ON-PEAK $ 0.51154 $ 0.52320 $ 0.56985 TOU-D-B Energy Summer OFF-PEAK $ 0.14579 $ 0.14904 $ 0.16203 TOU-D-B Energy Summer SUPER-OFF-PEAK $ 0.05932 $ 0.06058 $ 0.06561 TOU-D-B Energy Winter ON-PEAK $ 0.18782 $ 0.19203 $ 0.20889 TOU-D-B Energy Winter OFF-PEAK $ 0.11218 $ 0.11465 $ 0.12455 TOU-D-B Energy Winter SUPER-OFF-PEAK $ 0.06058 $ 0.06186 $ 0.06702 TOU-D-PRIME Energy Summer ON-PEAK $ 0.38383 $ 0.39256 $ 0.42745 TOU-D-PRIME Energy Summer MID-PEAK $ 0.13955 $ 0.14266 $ 0.15507 TOU-D-PRIME Energy Summer OFF-PEAK $ 0.09469 $ 0.09677 $ 0.10506 TOU-D-PRIME Energy Winter MID-PEAK $ 0.32406 $ 0.33141 $ 0.36080 TOU-D-PRIME Energy Winter OFF-PEAK $ 0.08111 $ 0.08287 $ 0.08991 TOU-D-PRIME Energy Winter SUPER-OFF-PEAK $ 0.08111 $ 0.08287 $ 0.08991 TOU-D-T Energy Summer ON-PEAK $ 0.19018 $ 0.19445 $ 0.21152 TOU-D-T Energy Summer OFF-PEAK $ 0.17331 $ 0.17719 $ 0.19271 TOU-D-T Energy Winter ON-PEAK $ 0.14433 $ 0.14754 $ 0.16040 TOU-D-T Energy Winter OFF-PEAK $ 0.13162 $ 0.13455 $ 0.14623 TOU-EV-1 Energy Summer ON-PEAK $ 0.35959 $ 0.36775 $ 0.40042 TOU-EV-1 Energy Summer OFF-PEAK $ 0.05885 $ 0.06010 $ 0.06509 TOU-EV-1 Energy Winter ON-PEAK $ 0.15435 $ 0.15779 $ 0.17157 TOU-EV-1 Energy Winter OFF-PEAK $ 0.07181 $ 0.07336 $ 0.07954 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 77
Exhibit B to Resolution 23-06-049
Phase 3 and 5 Residential CARE/FERA/Medical Baseline Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN - CARE
DEFAULT
100% GREEN -
CARE
DOMESTIC Energy All_Year NONE $ 0.15093 $ 0.15429 $ 0.16776 $ 0.15429 TOU-D-4 Energy Summer ON-PEAK $ 0.27468 $ 0.28090 $ 0.30575 $ 0.28090 TOU-D-4 Energy Summer MID-PEAK $ 0.17249 $ 0.17636 $ 0.19180 $ 0.17636 TOU-D-4 Energy Summer OFF-PEAK $ 0.11265 $ 0.11514 $ 0.12508 $ 0.11514 TOU-D-4 Energy Winter MID-PEAK $ 0.21060 $ 0.21534 $ 0.23429 $ 0.21534 TOU-D-4 Energy Winter OFF-PEAK $ 0.13589 $ 0.13891 $ 0.15099 $ 0.13891 TOU-D-4 Energy Winter SUPER-OFF-PEAK $ 0.11733 $ 0.11992 $ 0.13030 $ 0.11992 TOU-D-5 Energy Summer ON-PEAK $ 0.40755 $ 0.41682 $ 0.45390 $ 0.41682 TOU-D-5 Energy Summer MID-PEAK $ 0.23731 $ 0.24266 $ 0.26407 $ 0.24266 TOU-D-5 Energy Summer OFF-PEAK $ 0.10460 $ 0.10690 $ 0.11610 $ 0.10690 TOU-D-5 Energy Winter MID-PEAK $ 0.29068 $ 0.29726 $ 0.32358 $ 0.29726 TOU-D-5 Energy Winter OFF-PEAK $ 0.13485 $ 0.13785 $ 0.14984 $ 0.13785 TOU-D-5 Energy Winter SUPER-OFF-PEAK $ 0.10639 $ 0.10873 $ 0.11810 $ 0.10873 TOU-D-A Energy Summer ON-PEAK $ 0.34279 $ 0.35057 $ 0.38169 $ 0.35057 TOU-D-A Energy Summer OFF-PEAK $ 0.14585 $ 0.14910 $ 0.16210 $ 0.14910 TOU-D-A Energy Summer SUPER-OFF-PEAK $ 0.10410 $ 0.10639 $ 0.11554 $ 0.10639 TOU-D-A Energy Winter ON-PEAK $ 0.20549 $ 0.21011 $ 0.22860 $ 0.21011 TOU-D-A Energy Winter OFF-PEAK $ 0.11217 $ 0.11464 $ 0.12454 $ 0.11464 TOU-D-A Energy Winter SUPER-OFF-PEAK $ 0.10639 $ 0.10873 $ 0.11810 $ 0.10873 TOU-D-B Energy Summer ON-PEAK $ 0.51154 $ 0.52320 $ 0.56985 $ 0.52320 TOU-D-B Energy Summer OFF-PEAK $ 0.14579 $ 0.14904 $ 0.16203 $ 0.14904 TOU-D-B Energy Summer SUPER-OFF-PEAK $ 0.05932 $ 0.06058 $ 0.06561 $ 0.06058 TOU-D-B Energy Winter ON-PEAK $ 0.18782 $ 0.19203 $ 0.20889 $ 0.19203 TOU-D-B Energy Winter OFF-PEAK $ 0.11218 $ 0.11465 $ 0.12455 $ 0.11465 TOU-D-B Energy Winter SUPER-OFF-PEAK $ 0.06058 $ 0.06186 $ 0.06702 $ 0.06186 TOU-D-PRIME Energy Summer ON-PEAK $ 0.38383 $ 0.39256 $ 0.42745 $ 0.39256 TOU-D-PRIME Energy Summer MID-PEAK $ 0.13955 $ 0.14266 $ 0.15507 $ 0.14266 TOU-D-PRIME Energy Summer OFF-PEAK $ 0.09469 $ 0.09677 $ 0.10506 $ 0.09677 TOU-D-PRIME Energy Winter MID-PEAK $ 0.32406 $ 0.33141 $ 0.36080 $ 0.33141 TOU-D-PRIME Energy Winter OFF-PEAK $ 0.08111 $ 0.08287 $ 0.08991 $ 0.08287 TOU-D-PRIME Energy Winter SUPER-OFF-PEAK $ 0.08111 $ 0.08287 $ 0.08991 $ 0.08287 TOU-D-T Energy Summer ON-PEAK $ 0.19018 $ 0.19445 $ 0.21152 $ 0.19445 TOU-D-T Energy Summer OFF-PEAK $ 0.17331 $ 0.17719 $ 0.19271 $ 0.17719 TOU-D-T Energy Winter ON-PEAK $ 0.14433 $ 0.14754 $ 0.16040 $ 0.14754 TOU-D-T Energy Winter OFF-PEAK $ 0.13162 $ 0.13455 $ 0.14623 $ 0.13455 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 78
Exhibit C to Resolution 23-06-049
Phase 3 and 5 Power Share Rates Effective July 1, 2023
CPA RATE TYPE SEASON CHARGE TYPE TOU PERIOD RATE
DOMESTIC-C-PS Energy All_Year Generation None $ 0.15429 DOMESTIC-C-PS Energy All_Year Power Share Credit - Tier 1 None $ (0.04094) DOMESTIC-C-PS Energy All_Year Power Share Credit - Tier 2 None $ (0.05341) DOMESTIC-C-PS Energy All_Year Power Share Credit - High Usage None $ (0.06743) DOMESTIC-F-PS Energy All_Year Generation None $ 0.15429 DOMESTIC-F-PS Energy All_Year Power Share Credit - Tier 1 None $ (0.05003) DOMESTIC-F-PS Energy All_Year Power Share Credit - Tier 2 None $ (0.06459) DOMESTIC-F-PS Energy All_Year Power Share Credit - High Usage None $ (0.08097) DOMESTIC-PS Energy All_Year Generation None $ 0.15429
DOMESTIC-PS Energy All_Year Power Share Credit - Tier 1 None $ (0.06122) DOMESTIC-PS Energy All_Year Power Share Credit - Tier 2 None $ (0.07897) DOMESTIC-PS Energy All_Year Power Share Credit - High Usage None $ (0.09896) TOU-D-4-C-PS Energy Summer Generation On-Peak $ 0.28090 TOU-D-4-C-PS Energy Summer Generation Mid-peak $ 0.17636 TOU-D-4-C-PS Energy Summer Generation Off-Peak $ 0.11514 TOU-D-4-C-PS Energy Winter Generation Mid-peak $ 0.21534 TOU-D-4-C-PS Energy Winter Generation Off-Peak $ 0.13891 TOU-D-4-C-PS Energy Winter Generation Super Off-Peak $ 0.11992 TOU-D-4-C-PS Energy Summer Power Share Credit On-Peak $ (0.06317) TOU-D-4-C-PS Energy Summer Power Share Credit Mid-peak $ (0.04869) TOU-D-4-C-PS Energy Summer Power Share Credit Off-Peak $ (0.03417) TOU-D-4-C-PS Energy Winter Power Share Credit Mid-peak $ (0.05409) TOU-D-4-C-PS Energy Winter Power Share Credit Off-Peak $ (0.03746) TOU-D-4-C-PS Energy Winter Power Share Credit Super Off-Peak $ (0.03265) TOU-D-4-F-PS Energy Summer Generation On-Peak $ 0.28090 TOU-D-4-F-PS Energy Summer Generation Mid-peak $ 0.17636 TOU-D-4-F-PS Energy Summer Generation Off-Peak $ 0.11514 TOU-D-4-F-PS Energy Winter Generation Mid-peak $ 0.21534 TOU-D-4-F-PS Energy Winter Generation Off-Peak $ 0.13891 TOU-D-4-F-PS Energy Winter Generation Super Off-Peak $ 0.11992 TOU-D-4-F-PS Energy Summer Power Share Credit On-Peak $ (0.07613) TOU-D-4-F-PS Energy Summer Power Share Credit Mid-peak $ (0.05910) TOU-D-4-F-PS Energy Summer Power Share Credit Off-Peak $ (0.04207) TOU-D-4-F-PS Energy Winter Power Share Credit Mid-peak $ (0.06545) TOU-D-4-F-PS Energy Winter Power Share Credit Off-Peak $ (0.04594) TOU-D-4-F-PS Energy Winter Power Share Credit Super Off-Peak $ (0.04031) TOU-D-4-PS Energy Summer Generation On-Peak $ 0.28090
TOU-D-4-PS Energy Summer Generation Mid-peak $ 0.17636
TOU-D-4-PS Energy Summer Generation Off-Peak $ 0.11514
TOU-D-4-PS Energy Winter Generation Mid-peak $ 0.21534
TOU-D-4-PS Energy Winter Generation Off-Peak $ 0.13891
TOU-D-4-PS Energy Winter Generation Super Off-Peak $ 0.11992 TOU-D-4-PS Energy Summer Power Share Credit On-Peak $ (0.09323) TOU-D-4-PS Energy Summer Power Share Credit Mid-peak $ (0.07232) TOU-D-4-PS Energy Summer Power Share Credit Off-Peak $ (0.05146) TOU-D-4-PS Energy Winter Power Share Credit Mid-peak $ (0.08011) Energy rates are shown in $/kWh.
Agenda Page 79
Exhibit C to Resolution 23-06-049
Phase 3 and 5 Power Share Rates Effective July 1, 2023
CPA RATE TYPE SEASON CHARGE TYPE TOU PERIOD RATE
TOU-D-4-PS Energy Winter Power Share Credit Off-Peak $ (0.05621) TOU-D-4-PS Energy Winter Power Share Credit Super Off-Peak $ (0.04932) TOU-D-5-C-PS Energy Summer Generation On-Peak $ 0.41682 TOU-D-5-C-PS Energy Summer Generation Mid-peak $ 0.24266 TOU-D-5-C-PS Energy Summer Generation Off-Peak $ 0.10690 TOU-D-5-C-PS Energy Winter Generation Mid-peak $ 0.29726 TOU-D-5-C-PS Energy Winter Generation Off-Peak $ 0.13785 TOU-D-5-C-PS Energy Winter Generation Super Off-Peak $ 0.10873 TOU-D-5-C-PS Energy Summer Power Share Credit On-Peak $ (0.08222) TOU-D-5-C-PS Energy Summer Power Share Credit Mid-peak $ (0.05810) TOU-D-5-C-PS Energy Summer Power Share Credit Off-Peak $ (0.03396) TOU-D-5-C-PS Energy Winter Power Share Credit Mid-peak $ (0.06566) TOU-D-5-C-PS Energy Winter Power Share Credit Off-Peak $ (0.03825) TOU-D-5-C-PS Energy Winter Power Share Credit Super Off-Peak $ (0.03133) TOU-D-5-F-PS Energy Summer Generation On-Peak $ 0.41682 TOU-D-5-F-PS Energy Summer Generation Mid-peak $ 0.24266 TOU-D-5-F-PS Energy Summer Generation Off-Peak $ 0.10690 TOU-D-5-F-PS Energy Winter Generation Mid-peak $ 0.29726 TOU-D-5-F-PS Energy Winter Generation Off-Peak $ 0.13785 TOU-D-5-F-PS Energy Winter Generation Super Off-Peak $ 0.10873 TOU-D-5-F-PS Energy Summer Power Share Credit On-Peak $ (0.09853) TOU-D-5-F-PS Energy Summer Power Share Credit Mid-peak $ (0.07016) TOU-D-5-F-PS Energy Summer Power Share Credit Off-Peak $ (0.04182) TOU-D-5-F-PS Energy Winter Power Share Credit Mid-peak $ (0.07906) TOU-D-5-F-PS Energy Winter Power Share Credit Off-Peak $ (0.04687) TOU-D-5-F-PS Energy Winter Power Share Credit Super Off-Peak $ (0.03875) TOU-D-5-PS Energy Summer Generation On-Peak $ 0.41682
TOU-D-5-PS Energy Summer Generation Mid-peak $ 0.24266
TOU-D-5-PS Energy Summer Generation Off-Peak $ 0.10690
TOU-D-5-PS Energy Winter Generation Mid-peak $ 0.29726
TOU-D-5-PS Energy Winter Generation Off-Peak $ 0.13785
TOU-D-5-PS Energy Winter Generation Super Off-Peak $ 0.10873 TOU-D-5-PS Energy Summer Power Share Credit On-Peak $ (0.12073) TOU-D-5-PS Energy Summer Power Share Credit Mid-peak $ (0.08590) TOU-D-5-PS Energy Summer Power Share Credit Off-Peak $ (0.05115) TOU-D-5-PS Energy Winter Power Share Credit Mid-peak $ (0.09682) TOU-D-5-PS Energy Winter Power Share Credit Off-Peak $ (0.05734) TOU-D-5-PS Energy Winter Power Share Credit Super Off-Peak $ (0.04740) TOU-D-PRIME-C-PS Energy Summer Generation On-Peak $ 0.39256 TOU-D-PRIME-C-PS Energy Summer Generation Mid-Peak $ 0.14266 TOU-D-PRIME-C-PS Energy Summer Generation Off-Peak $ 0.09677 TOU-D-PRIME-C-PS Energy Winter Generation Mid-Peak $ 0.33141 TOU-D-PRIME-C-PS Energy Winter Generation Off-Peak $ 0.08287 TOU-D-PRIME-C-PS Energy Winter Generation Super Off-Peak $ 0.08287 TOU-D-PRIME-C-PS Energy Summer Power Share Credit On-Peak $ (0.08327) TOU-D-PRIME-C-PS Energy Summer Power Share Credit Mid-peak $ (0.04866) Energy rates are shown in $/kWh.
Agenda Page 80
Exhibit C to Resolution 23-06-049
Phase 3 and 5 Power Share Rates Effective July 1, 2023
CPA RATE TYPE SEASON CHARGE TYPE TOU PERIOD RATE
TOU-D-PRIME-C-PS Energy Summer Power Share Credit Off-Peak $ (0.03182) TOU-D-PRIME-C-PS Energy Winter Power Share Credit Mid-peak $ (0.07560) TOU-D-PRIME-C-PS Energy Winter Power Share Credit Off-Peak $ (0.02899) TOU-D-PRIME-C-PS Energy Winter Power Share Credit Super Off-Peak $ (0.02899) TOU-D-PRIME-F-PS Energy Summer Generation On-Peak $ 0.39256 TOU-D-PRIME-F-PS Energy Summer Generation Mid-Peak $ 0.14266 TOU-D-PRIME-F-PS Energy Summer Generation Off-Peak $ 0.09677 TOU-D-PRIME-F-PS Energy Winter Generation Mid-Peak $ 0.33141 TOU-D-PRIME-F-PS Energy Winter Generation Off-Peak $ 0.08287 TOU-D-PRIME-F-PS Energy Winter Generation Super Off-Peak $ 0.08287 TOU-D-PRIME-F-PS Energy Summer Power Share Credit On-Peak $ (0.09973) TOU-D-PRIME-F-PS Energy Summer Power Share Credit Mid-peak $ (0.05904) TOU-D-PRIME-F-PS Energy Summer Power Share Credit Off-Peak $ (0.03931) TOU-D-PRIME-F-PS Energy Winter Power Share Credit Mid-peak $ (0.09070) TOU-D-PRIME-F-PS Energy Winter Power Share Credit Off-Peak $ (0.03599) TOU-D-PRIME-F-PS Energy Winter Power Share Credit Super Off-Peak $ (0.03599) TOU-D-PRIME-PS Energy Summer Generation On-Peak $ 0.39256 TOU-D-PRIME-PS Energy Summer Generation Mid-Peak $ 0.14266 TOU-D-PRIME-PS Energy Summer Generation Off-Peak $ 0.09677 TOU-D-PRIME-PS Energy Winter Generation Mid-Peak $ 0.33141 TOU-D-PRIME-PS Energy Winter Generation Off-Peak $ 0.08287 TOU-D-PRIME-PS Energy Winter Generation Super Off-Peak $ 0.08287 TOU-D-PRIME-PS Energy Summer Power Share Credit On-Peak $ (0.12217) TOU-D-PRIME-PS Energy Summer Power Share Credit Mid-peak $ (0.07219) TOU-D-PRIME-PS Energy Summer Power Share Credit Off-Peak $ (0.04807) TOU-D-PRIME-PS Energy Winter Power Share Credit Mid-peak $ (0.11107) TOU-D-PRIME-PS Energy Winter Power Share Credit Off-Peak $ (0.04400) TOU-D-PRIME-PS Energy Winter Power Share Credit Super Off-Peak $ (0.04400) TOU-D-A-C-PS Energy Summer Generation On-Peak $ 0.35057 TOU-D-A-C-PS Energy Summer Generation Off-Peak $ 0.14910 TOU-D-A-C-PS Energy Summer Generation Super Off-Peak $ 0.10639 TOU-D-A-C-PS Energy Winter Generation On-Peak $ 0.21011 TOU-D-A-C-PS Energy Winter Generation Off-Peak $ 0.11464 TOU-D-A-C-PS Energy Winter Generation Super Off-Peak $ 0.10873 TOU-D-A-C-PS Energy Summer Power Share Credit On-Peak $ (0.09664) TOU-D-A-C-PS Energy Summer Power Share Credit Off-Peak $ (0.05369) TOU-D-A-C-PS Energy Summer Power Share Credit Super Off-Peak $ (0.01195) TOU-D-A-C-PS Energy Winter Power Share Credit On-Peak $ (0.05594) TOU-D-A-C-PS Energy Winter Power Share Credit Off-Peak $ (0.04116) TOU-D-A-C-PS Energy Winter Power Share Credit Super Off-Peak $ (0.01179) TOU-D-A-F-PS Energy Summer Generation On-Peak $ 0.35057 TOU-D-A-F-PS Energy Summer Generation Off-Peak $ 0.14910 TOU-D-A-F-PS Energy Summer Generation Super Off-Peak $ 0.10639 TOU-D-A-F-PS Energy Winter Generation On-Peak $ 0.21011 TOU-D-A-F-PS Energy Winter Generation Off-Peak $ 0.11464 TOU-D-A-F-PS Energy Winter Generation Super Off-Peak $ 0.10873 Energy rates are shown in $/kWh.
Agenda Page 81
Exhibit C to Resolution 23-06-049
Phase 3 and 5 Power Share Rates Effective July 1, 2023
CPA RATE TYPE SEASON CHARGE TYPE TOU PERIOD RATE
TOU-D-A-F-PS Energy Summer Power Share Credit On-Peak $ (0.11530) TOU-D-A-F-PS Energy Summer Power Share Credit Off-Peak $ (0.06492) TOU-D-A-F-PS Energy Summer Power Share Credit Super Off-Peak $ (0.01611) TOU-D-A-F-PS Energy Winter Power Share Credit On-Peak $ (0.06761) TOU-D-A-F-PS Energy Winter Power Share Credit Off-Peak $ (0.05023) TOU-D-A-F-PS Energy Winter Power Share Credit Super Off-Peak $ (0.01592) TOU-D-A-PS Energy Summer Generation On-Peak $ 0.35057
TOU-D-A-PS Energy Summer Generation Off-Peak $ 0.14910
TOU-D-A-PS Energy Summer Generation Super Off-Peak $ 0.10639 TOU-D-A-PS Energy Winter Generation On-Peak $ 0.21011
TOU-D-A-PS Energy Winter Generation Off-Peak $ 0.11464
TOU-D-A-PS Energy Winter Generation Super Off-Peak $ 0.10873 TOU-D-A-PS Energy Summer Power Share Credit On-Peak $ (0.14110) TOU-D-A-PS Energy Summer Power Share Credit Off-Peak $ (0.07937) TOU-D-A-PS Energy Summer Power Share Credit Super Off-Peak $ (0.01979) TOU-D-A-PS Energy Winter Power Share Credit On-Peak $ (0.08274) TOU-D-A-PS Energy Winter Power Share Credit Off-Peak $ (0.06142) TOU-D-A-PS Energy Winter Power Share Credit Super Off-Peak $ (0.01956) TOU-D-B-C-PS Energy Summer Generation On-Peak $ 0.52320 TOU-D-B-C-PS Energy Summer Generation Off-Peak $ 0.14904 TOU-D-B-C-PS Energy Summer Generation Super Off-Peak $ 0.06058 TOU-D-B-C-PS Energy Winter Generation On-Peak $ 0.19203 TOU-D-B-C-PS Energy Winter Generation Off-Peak $ 0.11465 TOU-D-B-C-PS Energy Winter Generation Super Off-Peak $ 0.06186 TOU-D-B-C-PS Energy Summer Power Share Credit On-Peak $ (0.10095) TOU-D-B-C-PS Energy Summer Power Share Credit Off-Peak $ (0.04061) TOU-D-B-C-PS Energy Summer Power Share Credit Super Off-Peak $ (0.01895) TOU-D-B-C-PS Energy Winter Power Share Credit On-Peak $ (0.05508) TOU-D-B-C-PS Energy Winter Power Share Credit Off-Peak $ (0.03585) TOU-D-B-C-PS Energy Winter Power Share Credit Super Off-Peak $ (0.01912) TOU-D-B-F-PS Energy Summer Generation On-Peak $ 0.52320 TOU-D-B-F-PS Energy Summer Generation Off-Peak $ 0.14904 TOU-D-B-F-PS Energy Summer Generation Super Off-Peak $ 0.06058 TOU-D-B-F-PS Energy Winter Generation On-Peak $ 0.19203 TOU-D-B-F-PS Energy Winter Generation Off-Peak $ 0.11465 TOU-D-B-F-PS Energy Winter Generation Super Off-Peak $ 0.06186 TOU-D-B-F-PS Energy Summer Power Share Credit On-Peak $ (0.12052) TOU-D-B-F-PS Energy Summer Power Share Credit Off-Peak $ (0.04964) TOU-D-B-F-PS Energy Summer Power Share Credit Super Off-Peak $ (0.02423) TOU-D-B-F-PS Energy Winter Power Share Credit On-Peak $ (0.06659) TOU-D-B-F-PS Energy Winter Power Share Credit Off-Peak $ (0.04403) TOU-D-B-F-PS Energy Winter Power Share Credit Super Off-Peak $ (0.02444) TOU-D-B-PS Energy Summer Generation On-Peak $ 0.52320
TOU-D-B-PS Energy Summer Generation Off-Peak $ 0.14904
TOU-D-B-PS Energy Summer Generation Super Off-Peak $ 0.06058 TOU-D-B-PS Energy Winter Generation On-Peak $ 0.19203
Energy rates are shown in $/kWh.
Agenda Page 82
Exhibit C to Resolution 23-06-049
Phase 3 and 5 Power Share Rates Effective July 1, 2023
CPA RATE TYPE SEASON CHARGE TYPE TOU PERIOD RATE
TOU-D-B-PS Energy Winter Generation Off-Peak $ 0.11465
TOU-D-B-PS Energy Winter Generation Super Off-Peak $ 0.06186 TOU-D-B-PS Energy Summer Power Share Credit On-Peak $ (0.14770) TOU-D-B-PS Energy Summer Power Share Credit Off-Peak $ (0.06073) TOU-D-B-PS Energy Summer Power Share Credit Super Off-Peak $ (0.02963) TOU-D-B-PS Energy Winter Power Share Credit On-Peak $ (0.08147) TOU-D-B-PS Energy Winter Power Share Credit Off-Peak $ (0.05386) TOU-D-B-PS Energy Winter Power Share Credit Super Off-Peak $ (0.02989) Notes
For Domestic, D-CARE and D-FERA rates the following definitions from SCE Schedule D (Domestic Service) apply:
C refers CARE-discounted rates and F refers to FERA-discounted rates as defined in SCE Schedule TOU-D.
Off-Peak: All other hours – all year, every day
Mid-Peak: 4:00 p.m. to 9:00 p.m. winter weekdays and summer and winter weekends/holidays Off-Peak: 9:00 p.m. to 4:00 p.m. summer weekdays and weekends. 9:00 p.m. to 8:00 a.m. winter weekdays and weekends/holidays Super Off-Peak: 8:00 a.m. to 4:00 p.m. winter weekdays and weekends/holidays TOU-D-5:
On-Peak: 5:00 p.m. to 8:00 p.m. summer weekdays except holidays Mid-Peak: 5:00 p.m. to 8:00 p.m. winter weekdays and summer and winter weekends/holidays Off-Peak: 8:00 p.m. to 5:00 p.m. summer weekdays and weekends. 8:00 p.m. to 8:00 a.m. winter weekdays and weekends/holidays Super Off-Peak: 8:00 a.m. to 5:00 p.m. winter weekdays and weekends/holidays TOU-D-A and TOU-D-B:
On-Peak: 2:00 p.m. to 8:00 p.m. summer and winter weekdays except holidays Super Off-Peak: 10:00 p.m. to 8:00 a.m. all year, every day On-Peak: 4:00 p.m. to 9:00 p.m. summer weekdays except holidays Tier 1: Baseline Service
Tier 2: 100% to 400% of Baseline Service
High Usage: 400% of Baseline Servce
For TOU-D rate schedules the following definitions from SCE Schedule TOU-D (Time-of-Use Domestic) apply:
TOU-D-4 and TOU-D-PRIME:
Energy rates are shown in $/kWh.
Agenda Page 83
RESO NO. 23-06-050
RESOLUTION NO. 23-06-050
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA
TO APPROVE 2023 RATES FOR PHASES 4 & 5 NON-RESIDENTIAL CUSTOMERS
THE BOARD OF DIRECTORS OF THE CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA DOES HEREBY FIND, RESOLVE, AND ORDER AS FOLLOWS:
WHEREAS, the Clean Power Alliance of Southern California (formerly known as Los Angeles Community Choice Energy Authority) (“Clean Power Alliance” or “CPA”) was formed on June 27, 2017;
WHEREAS, on May 1, 2019, Phase 4 commenced with the enrollment of all non-residential accounts in CPA territory at that time with the exception of unincorporated Los Angeles County, South Pasadena, and Rolling Hills Estates, necessitating the adoption of Phase 4 non-residential rates;
WHEREAS, on June 6, 2019, the Board authorized rates for the implementation of the Peak Management Pricing demand response program and the Wind Machine Credit for eligible TOU-PA-2 customers that utilize wind machines to prevent crop freezing;
WHEREAS, on June 1, 2020, Phase 5 commenced with the enrollment of all customers in Westlake Village, necessitating the adoption of Phase 5 non-residential rates; and
WHEREAS, on May 4, 2023, the Board approved a FY 2023-2024 rate setting approach that based on representative customer load profiles and customer usage:
a. Set the CPA target rate product differential between 100% Green Power rate product and Clean Power rate product to 4% and the target price differential between 100% Green Power rate product and Lean Power rate product to 5% as informed by CPA’s projected FY 2023-24 cost of service (COS),
b. Direct staff to develop rates for each of CPA’s three rate products for residential and small and medium business customers1 such that the 100% Green rate product targets a 3% total bill premium compared to Southern California Edison (“SCE”) base rates as of March 1, 2023, Clean Power at a 1% total bill discount target compared to SCE base rates as of March 1, 2023, and Lean Power at a 2% total bill discount target compared to SCE base rates as of March 1, 2023, for customers on the 2018 Power 1 Small and medium business customers are considered to be on the TOU-GS-1 and TOU-GS-2 rate schedules.
Agenda Page 84
RESO NO. 23-06-050
Charge Indifference Adjustment vintage,
c. Update rates for large commercial, pumping and agriculture, and streetlighting customer2 rate classes (“Subset Customers”) to reflect CPA’s projected FY 2023-24 COS, and,
d. Set total bill comparisons for customers in the cities of Hermosa Beach, Monrovia, and Santa Paula at the same total bill comparison levels as customers of the current member agencies.
(subsections (a)-(d) are collectively referred to as “Rate Setting Approach”)
NOW THEREFORE, BE IT DETERMINED, ORDERED, AND RESOLVED,
BY THE BOARD OF DIRECTORS OF THE CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA THAT:
1. The Rate Setting Approach for FY 2023-2024 will apply to all rates for Phases 4 and 5 customers.
2. The proposed Phases 4 & 5 non-residential rate schedules as presented in Exhibit A are hereby approved effective July 1, 2023.
3. The proposed Phases 4 & 5 rate schedules for non-residential CARE customers as presented in Exhibit B are hereby approved effective July 1, 2023.
4. The proposed Phases 4 & 5 Wind Machine Credit rates as presented in Exhibit C are hereby approved effective July 1, 2023.
5. The proposed Phases 4 & 5 Peak Management Pricing rates as presented in Exhibit D are hereby approved effective July 1, 2023.
APPROVED AND ADOPTED this 1st day of June 2023.
Julian Gold, Chair
ATTEST:
Gabriela Monzon, Secretary
2 Subset Customers are on TOU-8, TOU-GS-3, TOU-PA-2, TOU-PA-3, and LS-1 rate schedules for all Phases 4 and 5 customers.
Agenda Page 85
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1-A Energy Summer ON-PEAK $ 0.19399 $ 0.19791 $ 0.21358 TOU-GS-1-A Energy Summer MID-PEAK $ 0.18166 $ 0.18532 $ 0.19998 TOU-GS-1-A Energy Summer OFF-PEAK $ 0.17492 $ 0.17844 $ 0.19255 TOU-GS-1-A Energy Winter MID-PEAK $ 0.12985 $ 0.13245 $ 0.14285 TOU-GS-1-A Energy Winter OFF-PEAK $ 0.11719 $ 0.11953 $ 0.12889 TOU-GS-1-B Energy Summer ON-PEAK $ 0.10728 $ 0.10941 $ 0.11796 TOU-GS-1-B Energy Summer MID-PEAK $ 0.10055 $ 0.10255 $ 0.11054 TOU-GS-1-B Energy Summer OFF-PEAK $ 0.09687 $ 0.09880 $ 0.10649 TOU-GS-1-B Energy Winter MID-PEAK $ 0.12985 $ 0.13245 $ 0.14285 TOU-GS-1-B Energy Winter OFF-PEAK $ 0.11719 $ 0.11953 $ 0.12889 TOU-GS-1-B Demand Summer ON-PEAK $ 14.74 $ 15.04 $ 16.25 TOU-GS-1-B Demand Summer MID-PEAK $ 4.80 $ 4.89 $ 5.29
TOU-GS-1-D Energy Summer ON-PEAK $ 0.14578 $ 0.14871 $ 0.16042 TOU-GS-1-D Energy Summer MID-PEAK $ 0.13195 $ 0.13459 $ 0.14517 TOU-GS-1-D Energy Summer OFF-PEAK $ 0.08761 $ 0.08935 $ 0.09628 TOU-GS-1-D Energy Winter MID-PEAK $ 0.13744 $ 0.14020 $ 0.15122 TOU-GS-1-D Energy Winter OFF-PEAK $ 0.09800 $ 0.09994 $ 0.10773 TOU-GS-1-D Energy Winter SUPER-OFF-PEAK $ 0.07414 $ 0.07559 $ 0.08142 TOU-GS-1-D Demand Summer ON-PEAK $ 20.08 $ 20.49 $ 22.14 TOU-GS-1-D Demand Winter MID-PEAK $ 6.17 $ 6.29 $ 6.80
TOU-GS-1-E Energy Summer ON-PEAK $ 0.53479 $ 0.54571 $ 0.58938 TOU-GS-1-E Energy Summer MID-PEAK $ 0.14478 $ 0.14769 $ 0.15931 TOU-GS-1-E Energy Summer OFF-PEAK $ 0.10443 $ 0.10651 $ 0.11482 TOU-GS-1-E Energy Winter MID-PEAK $ 0.21803 $ 0.22244 $ 0.24008 TOU-GS-1-E Energy Winter OFF-PEAK $ 0.12257 $ 0.12502 $ 0.13482 TOU-GS-1-E Energy Winter SUPER-OFF-PEAK $ 0.06590 $ 0.06718 $ 0.07233 TOU-GS-1-ES Energy Summer ON-PEAK $ 0.57744 $ 0.58924 $ 0.63642 TOU-GS-1-ES Energy Summer MID-PEAK $ 0.15630 $ 0.15945 $ 0.17202 TOU-GS-1-ES Energy Summer OFF-PEAK $ 0.11258 $ 0.11482 $ 0.12380 TOU-GS-1-ES Energy Winter MID-PEAK $ 0.20373 $ 0.20785 $ 0.22432 TOU-GS-1-ES Energy Winter OFF-PEAK $ 0.11475 $ 0.11704 $ 0.12619 TOU-GS-1-ES Energy Winter SUPER-OFF-PEAK $ 0.06166 $ 0.06286 $ 0.06766 TOU-GS-1-PRI-A Energy Summer ON-PEAK $ 0.19238 $ 0.19627 $ 0.21180 TOU-GS-1-PRI-A Energy Summer MID-PEAK $ 0.18005 $ 0.18368 $ 0.19820 TOU-GS-1-PRI-A Energy Summer OFF-PEAK $ 0.17331 $ 0.17680 $ 0.19077 TOU-GS-1-PRI-A Energy Winter MID-PEAK $ 0.12824 $ 0.13081 $ 0.14107 TOU-GS-1-PRI-A Energy Winter OFF-PEAK $ 0.11558 $ 0.11789 $ 0.12712 TOU-GS-1-PRI-B Energy Summer ON-PEAK $ 0.10670 $ 0.10883 $ 0.11733 TOU-GS-1-PRI-B Energy Summer MID-PEAK $ 0.09998 $ 0.10196 $ 0.10991 TOU-GS-1-PRI-B Energy Summer OFF-PEAK $ 0.09630 $ 0.09821 $ 0.10586 TOU-GS-1-PRI-B Energy Winter MID-PEAK $ 0.12928 $ 0.13187 $ 0.14222 TOU-GS-1-PRI-B Energy Winter OFF-PEAK $ 0.11662 $ 0.11895 $ 0.12826 TOU-GS-1-PRI-B Demand Summer ON-PEAK $ 14.48 $ 14.78 $ 15.97 TOU-GS-1-PRI-B Demand Summer MID-PEAK $ 4.54 $ 4.63 $ 5.01 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 86
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1-PRI-D Energy Summer ON-PEAK $ 0.14521 $ 0.14812 $ 0.15979 TOU-GS-1-PRI-D Energy Summer MID-PEAK $ 0.13138 $ 0.13401 $ 0.14454 TOU-GS-1-PRI-D Energy Summer OFF-PEAK $ 0.08704 $ 0.08876 $ 0.09565 TOU-GS-1-PRI-D Energy Winter MID-PEAK $ 0.13687 $ 0.13962 $ 0.15059 TOU-GS-1-PRI-D Energy Winter OFF-PEAK $ 0.09743 $ 0.09936 $ 0.10710 TOU-GS-1-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.07357 $ 0.07501 $ 0.08079 TOU-GS-1-PRI-D Demand Summer ON-PEAK $ 19.89 $ 20.30 $ 21.93 TOU-GS-1-PRI-D Demand Winter MID-PEAK $ 5.98 $ 6.10 $ 6.59 TOU-GS-1-PRI-E Energy Summer ON-PEAK $ 0.53318 $ 0.54407 $ 0.58761 TOU-GS-1-PRI-E Energy Summer MID-PEAK $ 0.14317 $ 0.14604 $ 0.15754 TOU-GS-1-PRI-E Energy Summer OFF-PEAK $ 0.10282 $ 0.10487 $ 0.11305 TOU-GS-1-PRI-E Energy Winter MID-PEAK $ 0.21642 $ 0.22080 $ 0.23831 TOU-GS-1-PRI-E Energy Winter OFF-PEAK $ 0.12096 $ 0.12338 $ 0.13305 TOU-GS-1-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.06429 $ 0.06554 $ 0.07056 TOU-GS-1-PRI-ES Energy Summer ON-PEAK $ 0.57583 $ 0.58760 $ 0.63464 TOU-GS-1-PRI-ES Energy Summer MID-PEAK $ 0.15470 $ 0.15781 $ 0.17025 TOU-GS-1-PRI-ES Energy Summer OFF-PEAK $ 0.11097 $ 0.11318 $ 0.12203 TOU-GS-1-PRI-ES Energy Winter MID-PEAK $ 0.20213 $ 0.20621 $ 0.22255 TOU-GS-1-PRI-ES Energy Winter OFF-PEAK $ 0.11314 $ 0.11539 $ 0.12442 TOU-GS-1-PRI-ES Energy Winter SUPER-OFF-PEAK $ 0.06005 $ 0.06122 $ 0.06589 TOU-GS-1-SUB-A Energy Summer ON-PEAK $ 0.19049 $ 0.19433 $ 0.20972 TOU-GS-1-SUB-A Energy Summer MID-PEAK $ 0.17815 $ 0.18175 $ 0.19612 TOU-GS-1-SUB-A Energy Summer OFF-PEAK $ 0.17142 $ 0.17487 $ 0.18869 TOU-GS-1-SUB-A Energy Winter MID-PEAK $ 0.12635 $ 0.12887 $ 0.13899 TOU-GS-1-SUB-A Energy Winter OFF-PEAK $ 0.11369 $ 0.11596 $ 0.12503 TOU-GS-1-SUB-B Energy Summer ON-PEAK $ 0.10616 $ 0.10828 $ 0.11673 TOU-GS-1-SUB-B Energy Summer MID-PEAK $ 0.09943 $ 0.10141 $ 0.10931 TOU-GS-1-SUB-B Energy Summer OFF-PEAK $ 0.09576 $ 0.09766 $ 0.10526 TOU-GS-1-SUB-B Energy Winter MID-PEAK $ 0.12873 $ 0.13131 $ 0.14162 TOU-GS-1-SUB-B Energy Winter OFF-PEAK $ 0.11608 $ 0.11840 $ 0.12766 TOU-GS-1-SUB-B Demand Summer ON-PEAK $ 14.15 $ 14.44 $ 15.60 TOU-GS-1-SUB-B Demand Summer MID-PEAK $ 4.21 $ 4.29 $ 4.64 TOU-GS-1-SUB-D Energy Summer ON-PEAK $ 0.14467 $ 0.14757 $ 0.15919 TOU-GS-1-SUB-D Energy Summer MID-PEAK $ 0.13084 $ 0.13346 $ 0.14394 TOU-GS-1-SUB-D Energy Summer OFF-PEAK $ 0.08650 $ 0.08821 $ 0.09505 TOU-GS-1-SUB-D Energy Winter MID-PEAK $ 0.13633 $ 0.13906 $ 0.14999 TOU-GS-1-SUB-D Energy Winter OFF-PEAK $ 0.09688 $ 0.09881 $ 0.10650 TOU-GS-1-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.07303 $ 0.07446 $ 0.08019 TOU-GS-1-SUB-D Demand Summer ON-PEAK $ 19.63 $ 20.04 $ 21.65 TOU-GS-1-SUB-D Demand Winter MID-PEAK $ 5.72 $ 5.84 $ 6.31 TOU-GS-1-SUB-E Energy Summer ON-PEAK $ 0.53129 $ 0.54213 $ 0.58552 TOU-GS-1-SUB-E Energy Summer MID-PEAK $ 0.14128 $ 0.14411 $ 0.15545 TOU-GS-1-SUB-E Energy Summer OFF-PEAK $ 0.10093 $ 0.10293 $ 0.11096 TOU-GS-1-SUB-E Energy Winter MID-PEAK $ 0.21453 $ 0.21886 $ 0.23622 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 87
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1-SUB-E Energy Winter OFF-PEAK $ 0.11907 $ 0.12144 $ 0.13096 TOU-GS-1-SUB-E Energy Winter SUPER-OFF-PEAK $ 0.06240 $ 0.06361 $ 0.06847 TOU-GS-2-B Energy Summer ON-PEAK $ 0.10254 $ 0.10465 $ 0.11307 TOU-GS-2-B Energy Summer MID-PEAK $ 0.09615 $ 0.09812 $ 0.10599 TOU-GS-2-B Energy Summer OFF-PEAK $ 0.09264 $ 0.09454 $ 0.10212 TOU-GS-2-B Energy Winter MID-PEAK $ 0.12385 $ 0.12641 $ 0.13664 TOU-GS-2-B Energy Winter OFF-PEAK $ 0.07458 $ 0.07610 $ 0.08214 TOU-GS-2-B Demand Summer ON-PEAK $ 17.63 $ 18.00 $ 19.50 TOU-GS-2-B Demand Summer MID-PEAK $ 5.92 $ 6.05 $ 6.55
TOU-GS-2-D Energy Summer ON-PEAK $ 0.14038 $ 0.14329 $ 0.15492 TOU-GS-2-D Energy Summer MID-PEAK $ 0.12829 $ 0.13094 $ 0.14155 TOU-GS-2-D Energy Summer OFF-PEAK $ 0.08355 $ 0.08525 $ 0.09205 TOU-GS-2-D Energy Winter MID-PEAK $ 0.09587 $ 0.09784 $ 0.10569 TOU-GS-2-D Energy Winter OFF-PEAK $ 0.09643 $ 0.09841 $ 0.10631 TOU-GS-2-D Energy Winter SUPER-OFF-PEAK $ 0.05226 $ 0.05330 $ 0.05745 TOU-GS-2-D Demand Summer ON-PEAK $ 25.42 $ 25.96 $ 28.12 TOU-GS-2-D Demand Winter MID-PEAK $ 6.67 $ 6.81 $ 7.38
TOU-GS-2-E Energy Summer ON-PEAK $ 0.46351 $ 0.47328 $ 0.51238 TOU-GS-2-E Energy Summer MID-PEAK $ 0.12829 $ 0.13094 $ 0.14155 TOU-GS-2-E Energy Summer OFF-PEAK $ 0.08355 $ 0.08525 $ 0.09205 TOU-GS-2-E Energy Winter MID-PEAK $ 0.14710 $ 0.15015 $ 0.16235 TOU-GS-2-E Energy Winter OFF-PEAK $ 0.09643 $ 0.09841 $ 0.10631 TOU-GS-2-E Energy Winter SUPER-OFF-PEAK $ 0.05226 $ 0.05330 $ 0.05745 TOU-GS-2-E Demand Summer ON-PEAK $ 7.15 $ 7.30 $ 7.91
TOU-GS-2-E Demand Winter MID-PEAK $ 2.77 $ 2.82 $ 3.06
TOU-GS-2-PRI-B Energy Summer ON-PEAK $ 0.10140 $ 0.10348 $ 0.11181 TOU-GS-2-PRI-B Energy Summer MID-PEAK $ 0.09501 $ 0.09695 $ 0.10473 TOU-GS-2-PRI-B Energy Summer OFF-PEAK $ 0.09150 $ 0.09337 $ 0.10085 TOU-GS-2-PRI-B Energy Winter MID-PEAK $ 0.12271 $ 0.12524 $ 0.13538 TOU-GS-2-PRI-B Energy Winter OFF-PEAK $ 0.07344 $ 0.07493 $ 0.08088 TOU-GS-2-PRI-B Demand Summer ON-PEAK $ 16.93 $ 17.29 $ 18.72 TOU-GS-2-PRI-B Demand Summer MID-PEAK $ 5.22 $ 5.33 $ 5.77 TOU-GS-2-PRI-D Energy Summer ON-PEAK $ 0.13924 $ 0.14212 $ 0.15366 TOU-GS-2-PRI-D Energy Summer MID-PEAK $ 0.12715 $ 0.12978 $ 0.14029 TOU-GS-2-PRI-D Energy Summer OFF-PEAK $ 0.08241 $ 0.08408 $ 0.09079 TOU-GS-2-PRI-D Energy Winter MID-PEAK $ 0.09473 $ 0.09667 $ 0.10443 TOU-GS-2-PRI-D Energy Winter OFF-PEAK $ 0.09529 $ 0.09724 $ 0.10505 TOU-GS-2-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05112 $ 0.05213 $ 0.05618 TOU-GS-2-PRI-D Demand Summer ON-PEAK $ 24.84 $ 25.37 $ 27.48 TOU-GS-2-PRI-D Demand Winter MID-PEAK $ 6.52 $ 6.66 $ 7.21 TOU-GS-2-PRI-E Energy Summer ON-PEAK $ 0.46182 $ 0.47156 $ 0.51050 TOU-GS-2-PRI-E Energy Summer MID-PEAK $ 0.12660 $ 0.12921 $ 0.13968 TOU-GS-2-PRI-E Energy Summer OFF-PEAK $ 0.08185 $ 0.08352 $ 0.09018 TOU-GS-2-PRI-E Energy Winter MID-PEAK $ 0.14541 $ 0.14842 $ 0.16048 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 88
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-2-PRI-E Energy Winter OFF-PEAK $ 0.09474 $ 0.09668 $ 0.10444 TOU-GS-2-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.05057 $ 0.05157 $ 0.05557 TOU-GS-2-PRI-E Demand Summer ON-PEAK $ 6.91 $ 7.06 $ 7.64 TOU-GS-2-PRI-E Demand Winter MID-PEAK $ 2.70 $ 2.76 $ 2.99 TOU-GS-2-PRI-R Energy Summer ON-PEAK $ 0.33246 $ 0.33944 $ 0.36740 TOU-GS-2-PRI-R Energy Summer MID-PEAK $ 0.15827 $ 0.16156 $ 0.17472 TOU-GS-2-PRI-R Energy Summer OFF-PEAK $ 0.08977 $ 0.09160 $ 0.09894 TOU-GS-2-PRI-R Energy Winter MID-PEAK $ 0.12098 $ 0.12348 $ 0.13347 TOU-GS-2-PRI-R Energy Winter OFF-PEAK $ 0.07171 $ 0.07316 $ 0.07897 TOU-GS-2-R Energy Summer ON-PEAK $ 0.33533 $ 0.34238 $ 0.37058 TOU-GS-2-R Energy Summer MID-PEAK $ 0.16114 $ 0.16449 $ 0.17789 TOU-GS-2-R Energy Summer OFF-PEAK $ 0.09264 $ 0.09454 $ 0.10212 TOU-GS-2-R Energy Winter MID-PEAK $ 0.12385 $ 0.12641 $ 0.13664 TOU-GS-2-R Energy Winter OFF-PEAK $ 0.07458 $ 0.07610 $ 0.08214 TOU-GS-2-SUB-B Energy Summer ON-PEAK $ 0.10005 $ 0.10211 $ 0.11032 TOU-GS-2-SUB-B Energy Summer MID-PEAK $ 0.09366 $ 0.09557 $ 0.10324 TOU-GS-2-SUB-B Energy Summer OFF-PEAK $ 0.09015 $ 0.09199 $ 0.09936 TOU-GS-2-SUB-B Energy Winter MID-PEAK $ 0.12136 $ 0.12387 $ 0.13389 TOU-GS-2-SUB-B Energy Winter OFF-PEAK $ 0.07209 $ 0.07355 $ 0.07939 TOU-GS-2-SUB-B Demand Summer ON-PEAK $ 15.99 $ 16.33 $ 17.69 TOU-GS-2-SUB-B Demand Summer MID-PEAK $ 4.29 $ 4.38 $ 4.74 TOU-GS-2-SUB-D Energy Summer ON-PEAK $ 0.13789 $ 0.14074 $ 0.15217 TOU-GS-2-SUB-D Energy Summer MID-PEAK $ 0.12580 $ 0.12840 $ 0.13880 TOU-GS-2-SUB-D Energy Summer OFF-PEAK $ 0.08106 $ 0.08270 $ 0.08930 TOU-GS-2-SUB-D Energy Winter MID-PEAK $ 0.09338 $ 0.09529 $ 0.10294 TOU-GS-2-SUB-D Energy Winter OFF-PEAK $ 0.09394 $ 0.09587 $ 0.10356 TOU-GS-2-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.04977 $ 0.05075 $ 0.05469 TOU-GS-2-SUB-D Demand Summer ON-PEAK $ 24.08 $ 24.59 $ 26.64 TOU-GS-2-SUB-D Demand Winter MID-PEAK $ 6.32 $ 6.45 $ 6.99 TOU-GS-3-B Energy Summer ON-PEAK $ 0.09902 $ 0.10105 $ 0.10924 TOU-GS-3-B Energy Summer MID-PEAK $ 0.09268 $ 0.09458 $ 0.10222 TOU-GS-3-B Energy Summer OFF-PEAK $ 0.08945 $ 0.09128 $ 0.09865 TOU-GS-3-B Energy Winter MID-PEAK $ 0.14690 $ 0.15000 $ 0.16237 TOU-GS-3-B Energy Winter OFF-PEAK $ 0.08698 $ 0.08878 $ 0.09599 TOU-GS-3-B Demand Summer ON-PEAK $ 14.80 $ 15.11 $ 16.38 TOU-GS-3-B Demand Summer MID-PEAK $ 4.94 $ 5.05 $ 5.47
TOU-GS-3-D Energy Summer ON-PEAK $ 0.13193 $ 0.13467 $ 0.14567 TOU-GS-3-D Energy Summer MID-PEAK $ 0.12061 $ 0.12310 $ 0.13313 TOU-GS-3-D Energy Summer OFF-PEAK $ 0.08253 $ 0.08422 $ 0.09099 TOU-GS-3-D Energy Winter MID-PEAK $ 0.11137 $ 0.11371 $ 0.12301 TOU-GS-3-D Energy Winter OFF-PEAK $ 0.11203 $ 0.11438 $ 0.12375 TOU-GS-3-D Energy Winter SUPER-OFF-PEAK $ 0.06043 $ 0.06167 $ 0.06658 TOU-GS-3-D Demand Summer ON-PEAK $ 22.09 $ 22.56 $ 24.45 TOU-GS-3-D Demand Winter MID-PEAK $ 9.45 $ 9.65 $ 10.47 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 89
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-3-E Energy Summer ON-PEAK $ 0.38320 $ 0.39128 $ 0.42377 TOU-GS-3-E Energy Summer MID-PEAK $ 0.12061 $ 0.12310 $ 0.13313 TOU-GS-3-E Energy Summer OFF-PEAK $ 0.08253 $ 0.08422 $ 0.09099 TOU-GS-3-E Energy Winter MID-PEAK $ 0.17724 $ 0.18100 $ 0.19598 TOU-GS-3-E Energy Winter OFF-PEAK $ 0.11203 $ 0.11438 $ 0.12375 TOU-GS-3-E Energy Winter SUPER-OFF-PEAK $ 0.06043 $ 0.06167 $ 0.06658 TOU-GS-3-E Demand Summer ON-PEAK $ 6.21 $ 6.34 $ 6.88
TOU-GS-3-E Demand Winter MID-PEAK $ 3.91 $ 4.00 $ 4.33
TOU-GS-3-PRI-B Energy Summer ON-PEAK $ 0.09786 $ 0.09987 $ 0.10796 TOU-GS-3-PRI-B Energy Summer MID-PEAK $ 0.09152 $ 0.09340 $ 0.10094 TOU-GS-3-PRI-B Energy Summer OFF-PEAK $ 0.08829 $ 0.09010 $ 0.09737 TOU-GS-3-PRI-B Energy Winter MID-PEAK $ 0.14554 $ 0.14861 $ 0.16086 TOU-GS-3-PRI-B Energy Winter OFF-PEAK $ 0.08561 $ 0.08739 $ 0.09448 TOU-GS-3-PRI-B Demand Summer ON-PEAK $ 14.18 $ 14.49 $ 15.70 TOU-GS-3-PRI-B Demand Summer MID-PEAK $ 4.33 $ 4.42 $ 4.79 TOU-GS-3-PRI-D Energy Summer ON-PEAK $ 0.13078 $ 0.13349 $ 0.14439 TOU-GS-3-PRI-D Energy Summer MID-PEAK $ 0.11945 $ 0.12192 $ 0.13185 TOU-GS-3-PRI-D Energy Summer OFF-PEAK $ 0.08138 $ 0.08304 $ 0.08971 TOU-GS-3-PRI-D Energy Winter MID-PEAK $ 0.11001 $ 0.11232 $ 0.12150 TOU-GS-3-PRI-D Energy Winter OFF-PEAK $ 0.11067 $ 0.11299 $ 0.12223 TOU-GS-3-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05907 $ 0.06027 $ 0.06507 TOU-GS-3-PRI-D Demand Summer ON-PEAK $ 21.58 $ 22.04 $ 23.88 TOU-GS-3-PRI-D Demand Winter MID-PEAK $ 9.22 $ 9.42 $ 10.21 TOU-GS-3-PRI-E Energy Summer ON-PEAK $ 0.38109 $ 0.38913 $ 0.42144 TOU-GS-3-PRI-E Energy Summer MID-PEAK $ 0.11850 $ 0.12095 $ 0.13080 TOU-GS-3-PRI-E Energy Summer OFF-PEAK $ 0.08043 $ 0.08207 $ 0.08866 TOU-GS-3-PRI-E Energy Winter MID-PEAK $ 0.17475 $ 0.17846 $ 0.19322 TOU-GS-3-PRI-E Energy Winter OFF-PEAK $ 0.10954 $ 0.11184 $ 0.12099 TOU-GS-3-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.05794 $ 0.05912 $ 0.06383 TOU-GS-3-PRI-E Demand Summer ON-PEAK $ 6.00 $ 6.13 $ 6.64 TOU-GS-3-PRI-E Demand Winter MID-PEAK $ 3.82 $ 3.90 $ 4.23 TOU-GS-3-PRI-R Energy Summer ON-PEAK $ 0.27878 $ 0.28464 $ 0.30820 TOU-GS-3-PRI-R Energy Summer MID-PEAK $ 0.13790 $ 0.14076 $ 0.15227 TOU-GS-3-PRI-R Energy Summer OFF-PEAK $ 0.08699 $ 0.08876 $ 0.09592 TOU-GS-3-PRI-R Energy Winter MID-PEAK $ 0.14399 $ 0.14703 $ 0.15915 TOU-GS-3-PRI-R Energy Winter OFF-PEAK $ 0.08407 $ 0.08581 $ 0.09277 TOU-GS-3-R Energy Summer ON-PEAK $ 0.28124 $ 0.28715 $ 0.31093 TOU-GS-3-R Energy Summer MID-PEAK $ 0.14036 $ 0.14327 $ 0.15499 TOU-GS-3-R Energy Summer OFF-PEAK $ 0.08945 $ 0.09128 $ 0.09865 TOU-GS-3-R Energy Winter MID-PEAK $ 0.14690 $ 0.15000 $ 0.16237 TOU-GS-3-R Energy Winter OFF-PEAK $ 0.08698 $ 0.08878 $ 0.09599 TOU-GS-3-SUB-D Energy Summer ON-PEAK $ 0.12942 $ 0.13211 $ 0.14289 TOU-GS-3-SUB-D Energy Summer MID-PEAK $ 0.11810 $ 0.12054 $ 0.13035 TOU-GS-3-SUB-D Energy Summer OFF-PEAK $ 0.08002 $ 0.08165 $ 0.08821 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 90
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-3-SUB-D Energy Winter MID-PEAK $ 0.10841 $ 0.11068 $ 0.11973 TOU-GS-3-SUB-D Energy Winter OFF-PEAK $ 0.10907 $ 0.11135 $ 0.12046 TOU-GS-3-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.05746 $ 0.05863 $ 0.06330 TOU-GS-3-SUB-D Demand Summer ON-PEAK $ 20.91 $ 21.35 $ 23.14 TOU-GS-3-SUB-D Demand Winter MID-PEAK $ 8.94 $ 9.13 $ 9.90 TOU-8-PRI-B Energy Summer ON-PEAK $ 0.09282 $ 0.09474 $ 0.10241 TOU-8-PRI-B Energy Summer MID-PEAK $ 0.08621 $ 0.08798 $ 0.09509 TOU-8-PRI-B Energy Summer OFF-PEAK $ 0.08385 $ 0.08557 $ 0.09248 TOU-8-PRI-B Energy Winter MID-PEAK $ 0.14478 $ 0.14787 $ 0.16006 TOU-8-PRI-B Energy Winter OFF-PEAK $ 0.08581 $ 0.08762 $ 0.09473 TOU-8-PRI-B Demand Summer ON-PEAK $ 15.38 $ 15.70 $ 17.02 TOU-8-PRI-B Demand Summer MID-PEAK $ 4.94 $ 5.05 $ 5.47 TOU-8-PRI-D Energy Summer ON-PEAK $ 0.12306 $ 0.12562 $ 0.13589 TOU-8-PRI-D Energy Summer MID-PEAK $ 0.11272 $ 0.11506 $ 0.12444 TOU-8-PRI-D Energy Summer OFF-PEAK $ 0.07725 $ 0.07883 $ 0.08517 TOU-8-PRI-D Energy Winter MID-PEAK $ 0.10566 $ 0.10790 $ 0.11671 TOU-8-PRI-D Energy Winter OFF-PEAK $ 0.10650 $ 0.10876 $ 0.11765 TOU-8-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05740 $ 0.05858 $ 0.06325 TOU-8-PRI-D Demand Summer ON-PEAK $ 21.84 $ 22.30 $ 24.17 TOU-8-PRI-D Demand Winter MID-PEAK $ 9.78 $ 9.99 $ 10.83 TOU-8-PRI-E Energy Summer ON-PEAK $ 0.34359 $ 0.35085 $ 0.38000 TOU-8-PRI-E Energy Summer MID-PEAK $ 0.11272 $ 0.11506 $ 0.12444 TOU-8-PRI-E Energy Summer OFF-PEAK $ 0.07725 $ 0.07883 $ 0.08517 TOU-8-PRI-E Energy Winter MID-PEAK $ 0.19045 $ 0.19454 $ 0.21066 TOU-8-PRI-E Energy Winter OFF-PEAK $ 0.10650 $ 0.10876 $ 0.11765 TOU-8-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.05740 $ 0.05858 $ 0.06325 TOU-8-PRI-E Demand Summer ON-PEAK $ 5.36 $ 5.47 $ 5.93
TOU-8-PRI-E Demand Winter MID-PEAK $ 1.11 $ 1.14 $ 1.23 TOU-8-PRI-R Energy Summer ON-PEAK $ 0.26674 $ 0.27237 $ 0.29494 TOU-8-PRI-R Energy Summer MID-PEAK $ 0.12560 $ 0.12821 $ 0.13870 TOU-8-PRI-R Energy Summer OFF-PEAK $ 0.08385 $ 0.08557 $ 0.09248 TOU-8-PRI-R Energy Winter MID-PEAK $ 0.14478 $ 0.14787 $ 0.16006 TOU-8-PRI-R Energy Winter OFF-PEAK $ 0.08581 $ 0.08762 $ 0.09473 TOU-8-SEC-B Energy Summer ON-PEAK $ 0.09657 $ 0.09856 $ 0.10655 TOU-8-SEC-B Energy Summer MID-PEAK $ 0.09009 $ 0.09194 $ 0.09938 TOU-8-SEC-B Energy Summer OFF-PEAK $ 0.08724 $ 0.08903 $ 0.09622 TOU-8-SEC-B Energy Winter MID-PEAK $ 0.13952 $ 0.14250 $ 0.15422 TOU-8-SEC-B Energy Winter OFF-PEAK $ 0.08729 $ 0.08913 $ 0.09636 TOU-8-SEC-B Demand Summer ON-PEAK $ 15.63 $ 15.97 $ 17.31 TOU-8-SEC-B Demand Summer MID-PEAK $ 5.13 $ 5.24 $ 5.68 TOU-8-SEC-D Energy Summer ON-PEAK $ 0.12846 $ 0.13113 $ 0.14185 TOU-8-SEC-D Energy Summer MID-PEAK $ 0.11742 $ 0.11986 $ 0.12964 TOU-8-SEC-D Energy Summer OFF-PEAK $ 0.08062 $ 0.08227 $ 0.08889 TOU-8-SEC-D Energy Winter MID-PEAK $ 0.11004 $ 0.11237 $ 0.12156 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 91
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-8-SEC-D Energy Winter OFF-PEAK $ 0.11070 $ 0.11304 $ 0.12229 TOU-8-SEC-D Energy Winter SUPER-OFF-PEAK $ 0.05965 $ 0.06088 $ 0.06573 TOU-8-SEC-D Demand Summer ON-PEAK $ 22.70 $ 23.19 $ 25.13 TOU-8-SEC-D Demand Winter MID-PEAK $ 8.32 $ 8.50 $ 9.22 TOU-8-SEC-E Energy Summer ON-PEAK $ 0.36138 $ 0.36902 $ 0.39969 TOU-8-SEC-E Energy Summer MID-PEAK $ 0.11742 $ 0.11986 $ 0.12964 TOU-8-SEC-E Energy Summer OFF-PEAK $ 0.08062 $ 0.08227 $ 0.08889 TOU-8-SEC-E Energy Winter MID-PEAK $ 0.16393 $ 0.16743 $ 0.18126 TOU-8-SEC-E Energy Winter OFF-PEAK $ 0.11070 $ 0.11304 $ 0.12229 TOU-8-SEC-E Energy Winter SUPER-OFF-PEAK $ 0.05965 $ 0.06088 $ 0.06573 TOU-8-SEC-E Demand Summer ON-PEAK $ 6.39 $ 6.52 $ 7.07
TOU-8-SEC-E Demand Winter MID-PEAK $ 3.44 $ 3.52 $ 3.82 TOU-8-SEC-R Energy Summer ON-PEAK $ 0.27610 $ 0.28192 $ 0.30529 TOU-8-SEC-R Energy Summer MID-PEAK $ 0.13380 $ 0.13658 $ 0.14776 TOU-8-SEC-R Energy Summer OFF-PEAK $ 0.08724 $ 0.08903 $ 0.09622 TOU-8-SEC-R Energy Winter MID-PEAK $ 0.13952 $ 0.14250 $ 0.15422 TOU-8-SEC-R Energy Winter OFF-PEAK $ 0.08729 $ 0.08913 $ 0.09636 TOU-8-SUB-B Energy Summer ON-PEAK $ 0.08698 $ 0.08877 $ 0.09596 TOU-8-SUB-B Energy Summer MID-PEAK $ 0.08053 $ 0.08218 $ 0.08882 TOU-8-SUB-B Energy Summer OFF-PEAK $ 0.07858 $ 0.08019 $ 0.08666 TOU-8-SUB-B Energy Winter MID-PEAK $ 0.13382 $ 0.13667 $ 0.14793 TOU-8-SUB-B Energy Winter OFF-PEAK $ 0.08136 $ 0.08307 $ 0.08981 TOU-8-SUB-B Demand Summer ON-PEAK $ 17.57 $ 17.95 $ 19.45 TOU-8-SUB-B Demand Summer MID-PEAK $ 5.69 $ 5.81 $ 6.30 TOU-8-SUB-D Energy Summer ON-PEAK $ 0.11551 $ 0.11791 $ 0.12754 TOU-8-SUB-D Energy Summer MID-PEAK $ 0.10612 $ 0.10832 $ 0.11715 TOU-8-SUB-D Energy Summer OFF-PEAK $ 0.07234 $ 0.07381 $ 0.07975 TOU-8-SUB-D Energy Winter MID-PEAK $ 0.09897 $ 0.10106 $ 0.10932 TOU-8-SUB-D Energy Winter OFF-PEAK $ 0.10014 $ 0.10226 $ 0.11062 TOU-8-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.05393 $ 0.05504 $ 0.05943 TOU-8-SUB-D Demand Summer ON-PEAK $ 24.12 $ 24.63 $ 26.70 TOU-8-SUB-D Demand Winter MID-PEAK $ 9.33 $ 9.54 $ 10.34 TOU-8-SUB-E Energy Summer ON-PEAK $ 0.37743 $ 0.38541 $ 0.41748 TOU-8-SUB-E Energy Summer MID-PEAK $ 0.10612 $ 0.10832 $ 0.11715 TOU-8-SUB-E Energy Summer OFF-PEAK $ 0.07234 $ 0.07381 $ 0.07975 TOU-8-SUB-E Energy Winter MID-PEAK $ 0.16743 $ 0.17102 $ 0.18517 TOU-8-SUB-E Energy Winter OFF-PEAK $ 0.10014 $ 0.10226 $ 0.11062 TOU-8-SUB-E Energy Winter SUPER-OFF-PEAK $ 0.05393 $ 0.05504 $ 0.05943 TOU-8-SUB-E Demand Summer ON-PEAK $ 2.29 $ 2.34 $ 2.54
TOU-8-SUB-E Demand Winter MID-PEAK $ 1.33 $ 1.36 $ 1.47 TOU-8-SUB-R Energy Summer ON-PEAK $ 0.26461 $ 0.27020 $ 0.29260 TOU-8-SUB-R Energy Summer MID-PEAK $ 0.11957 $ 0.12205 $ 0.13204 TOU-8-SUB-R Energy Summer OFF-PEAK $ 0.07858 $ 0.08019 $ 0.08666 TOU-8-SUB-R Energy Winter MID-PEAK $ 0.13382 $ 0.13667 $ 0.14793 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 92
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-8-SUB-R Energy Winter OFF-PEAK $ 0.08136 $ 0.08307 $ 0.08981 TOU-EV-7 Energy Summer ON-PEAK $ 0.40191 $ 0.41010 $ 0.44286 TOU-EV-7 Energy Summer MID-PEAK $ 0.14478 $ 0.14769 $ 0.15931 TOU-EV-7 Energy Summer OFF-PEAK $ 0.11954 $ 0.12193 $ 0.13148 TOU-EV-7 Energy Winter MID-PEAK $ 0.21803 $ 0.22244 $ 0.24008 TOU-EV-7 Energy Winter OFF-PEAK $ 0.14007 $ 0.14288 $ 0.15412 TOU-EV-7 Energy Winter SUPER-OFF-PEAK $ 0.06590 $ 0.06718 $ 0.07233 TOU-EV-8 Energy Summer ON-PEAK $ 0.44325 $ 0.45259 $ 0.48996 TOU-EV-8 Energy Summer MID-PEAK $ 0.12829 $ 0.13094 $ 0.14155 TOU-EV-8 Energy Summer OFF-PEAK $ 0.10003 $ 0.10208 $ 0.11028 TOU-EV-8 Energy Winter MID-PEAK $ 0.18329 $ 0.18711 $ 0.20239 TOU-EV-8 Energy Winter OFF-PEAK $ 0.11696 $ 0.11937 $ 0.12902 TOU-EV-8 Energy Winter SUPER-OFF-PEAK $ 0.05226 $ 0.05330 $ 0.05745 TOU-EV-PRI-9 Energy Summer ON-PEAK $ 0.31401 $ 0.31971 $ 0.34253 TOU-EV-PRI-9 Energy Summer MID-PEAK $ 0.11334 $ 0.11536 $ 0.12345 TOU-EV-PRI-9 Energy Summer OFF-PEAK $ 0.08750 $ 0.08905 $ 0.09524 TOU-EV-PRI-9 Energy Winter MID-PEAK $ 0.16978 $ 0.17284 $ 0.18507 TOU-EV-PRI-9 Energy Winter OFF-PEAK $ 0.09967 $ 0.10144 $ 0.10853 TOU-EV-PRI-9 Energy Winter SUPER-OFF-PEAK $ 0.04877 $ 0.04960 $ 0.05295 TOU-EV-SEC-9 Energy Summer ON-PEAK $ 0.34152 $ 0.34800 $ 0.37392 TOU-EV-SEC-9 Energy Summer MID-PEAK $ 0.11789 $ 0.12008 $ 0.12887 TOU-EV-SEC-9 Energy Summer OFF-PEAK $ 0.09228 $ 0.09399 $ 0.10081 TOU-EV-SEC-9 Energy Winter MID-PEAK $ 0.17009 $ 0.17328 $ 0.18607 TOU-EV-SEC-9 Energy Winter OFF-PEAK $ 0.10545 $ 0.10741 $ 0.11524 TOU-EV-SEC-9 Energy Winter SUPER-OFF-PEAK $ 0.05060 $ 0.05150 $ 0.05513 TOU-EV-SUB-9 Energy Summer ON-PEAK $ 0.30824 $ 0.31272 $ 0.33065 TOU-EV-SUB-9 Energy Summer MID-PEAK $ 0.10744 $ 0.10897 $ 0.11510 TOU-EV-SUB-9 Energy Summer OFF-PEAK $ 0.08219 $ 0.08336 $ 0.08801 TOU-EV-SUB-9 Energy Winter MID-PEAK $ 0.15184 $ 0.15402 $ 0.16276 TOU-EV-SUB-9 Energy Winter OFF-PEAK $ 0.09316 $ 0.09448 $ 0.09977 TOU-EV-SUB-9 Energy Winter SUPER-OFF-PEAK $ 0.04613 $ 0.04676 $ 0.04929 TOU-PA-2-A Energy Summer ON-PEAK $ 0.25666 $ 0.26223 $ 0.28382 TOU-PA-2-A Energy Summer MID-PEAK $ 0.11909 $ 0.12163 $ 0.13149 TOU-PA-2-A Energy Summer OFF-PEAK $ 0.08178 $ 0.08350 $ 0.09018 TOU-PA-2-A Energy Winter MID-PEAK $ 0.14677 $ 0.14995 $ 0.16216 TOU-PA-2-A Energy Winter OFF-PEAK $ 0.09817 $ 0.10027 $ 0.10834 TOU-PA-2-B Energy Summer ON-PEAK $ 0.09049 $ 0.09240 $ 0.09983 TOU-PA-2-B Energy Summer MID-PEAK $ 0.08389 $ 0.08566 $ 0.09252 TOU-PA-2-B Energy Summer OFF-PEAK $ 0.08178 $ 0.08350 $ 0.09018 TOU-PA-2-B Energy Winter MID-PEAK $ 0.14677 $ 0.14995 $ 0.16216 TOU-PA-2-B Energy Winter OFF-PEAK $ 0.09817 $ 0.10027 $ 0.10834 TOU-PA-2-B Demand Summer ON-PEAK $ 8.57 $ 8.76 $ 9.49
TOU-PA-2-B Demand Summer MID-PEAK $ 2.63 $ 2.69 $ 2.91
TOU-PA-2-D Energy Summer ON-PEAK $ 0.12272 $ 0.12534 $ 0.13552 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 93
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-2-D Energy Summer MID-PEAK $ 0.11218 $ 0.11457 $ 0.12385 TOU-PA-2-D Energy Summer OFF-PEAK $ 0.07538 $ 0.07696 $ 0.08310 TOU-PA-2-D Energy Winter MID-PEAK $ 0.12838 $ 0.13116 $ 0.14180 TOU-PA-2-D Energy Winter OFF-PEAK $ 0.10285 $ 0.10506 $ 0.11353 TOU-PA-2-D Energy Winter SUPER-OFF-PEAK $ 0.08833 $ 0.09022 $ 0.09745 TOU-PA-2-D Demand Summer ON-PEAK $ 12.09 $ 12.36 $ 13.39 TOU-PA-2-D Demand Winter MID-PEAK $ 3.65 $ 3.73 $ 4.04
TOU-PA-2-D5 Energy Summer ON-PEAK $ 0.24109 $ 0.24631 $ 0.26658 TOU-PA-2-D5 Energy Summer MID-PEAK $ 0.22760 $ 0.23253 $ 0.25165 TOU-PA-2-D5 Energy Summer OFF-PEAK $ 0.07086 $ 0.07234 $ 0.07810 TOU-PA-2-D5 Energy Winter MID-PEAK $ 0.13621 $ 0.13916 $ 0.15047 TOU-PA-2-D5 Energy Winter OFF-PEAK $ 0.10909 $ 0.11143 $ 0.12043 TOU-PA-2-D5 Energy Winter SUPER-OFF-PEAK $ 0.09364 $ 0.09564 $ 0.10333 TOU-PA-2-D5 Demand Summer ON-PEAK $ 11.57 $ 11.82 $ 12.81 TOU-PA-2-D5 Demand Winter MID-PEAK $ 2.45 $ 2.51 $ 2.72 TOU-PA-2-E Energy Summer ON-PEAK $ 0.40516 $ 0.41398 $ 0.44824 TOU-PA-2-E Energy Summer MID-PEAK $ 0.11218 $ 0.11457 $ 0.12385 TOU-PA-2-E Energy Summer OFF-PEAK $ 0.07538 $ 0.07696 $ 0.08310 TOU-PA-2-E Energy Winter MID-PEAK $ 0.14809 $ 0.15130 $ 0.16362 TOU-PA-2-E Energy Winter OFF-PEAK $ 0.11853 $ 0.12109 $ 0.13089 TOU-PA-2-E Energy Winter SUPER-OFF-PEAK $ 0.10171 $ 0.10389 $ 0.11227 TOU-PA-2-E5 Energy Summer ON-PEAK $ 0.67175 $ 0.68644 $ 0.74342 TOU-PA-2-E5 Energy Summer MID-PEAK $ 0.22760 $ 0.23253 $ 0.25165 TOU-PA-2-E5 Energy Summer OFF-PEAK $ 0.07086 $ 0.07234 $ 0.07810 TOU-PA-2-E5 Energy Winter MID-PEAK $ 0.14875 $ 0.15197 $ 0.16435 TOU-PA-2-E5 Energy Winter OFF-PEAK $ 0.11906 $ 0.12163 $ 0.13148 TOU-PA-2-E5 Energy Winter SUPER-OFF-PEAK $ 0.10216 $ 0.10435 $ 0.11276 TOU-PA-2-PRI-A Energy Summer ON-PEAK $ 0.25503 $ 0.26056 $ 0.28202 TOU-PA-2-PRI-A Energy Summer MID-PEAK $ 0.11746 $ 0.11997 $ 0.12969 TOU-PA-2-PRI-A Energy Summer OFF-PEAK $ 0.08015 $ 0.08184 $ 0.08838 TOU-PA-2-PRI-A Energy Winter MID-PEAK $ 0.14459 $ 0.14773 $ 0.15975 TOU-PA-2-PRI-A Energy Winter OFF-PEAK $ 0.09599 $ 0.09805 $ 0.10593 TOU-PA-2-PRI-B Energy Summer ON-PEAK $ 0.08949 $ 0.09138 $ 0.09872 TOU-PA-2-PRI-B Energy Summer MID-PEAK $ 0.08289 $ 0.08463 $ 0.09141 TOU-PA-2-PRI-B Energy Summer OFF-PEAK $ 0.08077 $ 0.08248 $ 0.08907 TOU-PA-2-PRI-B Energy Winter MID-PEAK $ 0.14543 $ 0.14858 $ 0.16067 TOU-PA-2-PRI-B Energy Winter OFF-PEAK $ 0.09683 $ 0.09890 $ 0.10686 TOU-PA-2-PRI-B Demand Summer ON-PEAK $ 8.38 $ 8.57 $ 9.28 TOU-PA-2-PRI-B Demand Summer MID-PEAK $ 2.44 $ 2.49 $ 2.70 TOU-PA-2-PRI-D Energy Summer ON-PEAK $ 0.12172 $ 0.12432 $ 0.13441 TOU-PA-2-PRI-D Energy Summer MID-PEAK $ 0.11118 $ 0.11355 $ 0.12274 TOU-PA-2-PRI-D Energy Summer OFF-PEAK $ 0.07438 $ 0.07594 $ 0.08199 TOU-PA-2-PRI-D Energy Winter MID-PEAK $ 0.12704 $ 0.12979 $ 0.14032 TOU-PA-2-PRI-D Energy Winter OFF-PEAK $ 0.10151 $ 0.10369 $ 0.11205 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 94
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-2-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.08699 $ 0.08884 $ 0.09596 TOU-PA-2-PRI-D Demand Summer ON-PEAK $ 11.93 $ 12.19 $ 13.21 TOU-PA-2-PRI-D Demand Winter MID-PEAK $ 3.43 $ 3.51 $ 3.80 TOU-PA-2-PRI-D5 Energy Summer ON-PEAK $ 0.24003 $ 0.24523 $ 0.26541 TOU-PA-2-PRI-D5 Energy Summer MID-PEAK $ 0.22654 $ 0.23145 $ 0.25047 TOU-PA-2-PRI-D5 Energy Summer OFF-PEAK $ 0.06980 $ 0.07126 $ 0.07692 TOU-PA-2-PRI-D5 Energy Winter MID-PEAK $ 0.13479 $ 0.13771 $ 0.14890 TOU-PA-2-PRI-D5 Energy Winter OFF-PEAK $ 0.10767 $ 0.10998 $ 0.11886 TOU-PA-2-PRI-D5 Energy Winter SUPER-OFF-PEAK $ 0.09222 $ 0.09419 $ 0.10176 TOU-PA-2-PRI-D5 Demand Summer ON-PEAK $ 11.42 $ 11.67 $ 12.64 TOU-PA-2-PRI-D5 Demand Winter MID-PEAK $ 2.25 $ 2.30 $ 2.50 TOU-PA-2-PRI-E Energy Summer ON-PEAK $ 0.40353 $ 0.41232 $ 0.44644 TOU-PA-2-PRI-E Energy Summer MID-PEAK $ 0.11055 $ 0.11291 $ 0.12205 TOU-PA-2-PRI-E Energy Summer OFF-PEAK $ 0.07376 $ 0.07530 $ 0.08130 TOU-PA-2-PRI-E Energy Winter MID-PEAK $ 0.14591 $ 0.14907 $ 0.16121 TOU-PA-2-PRI-E Energy Winter OFF-PEAK $ 0.11636 $ 0.11886 $ 0.12848 TOU-PA-2-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.09953 $ 0.10167 $ 0.10985 TOU-PA-2-PRI-E5 Energy Summer ON-PEAK $ 0.67013 $ 0.68478 $ 0.74162 TOU-PA-2-PRI-E5 Energy Summer MID-PEAK $ 0.22598 $ 0.23087 $ 0.24984 TOU-PA-2-PRI-E5 Energy Summer OFF-PEAK $ 0.06923 $ 0.07068 $ 0.07630 TOU-PA-2-PRI-E5 Energy Winter MID-PEAK $ 0.14657 $ 0.14975 $ 0.16194 TOU-PA-2-PRI-E5 Energy Winter OFF-PEAK $ 0.11688 $ 0.11940 $ 0.12907 TOU-PA-2-PRI-E5 Energy Winter SUPER-OFF-PEAK $ 0.09998 $ 0.10213 $ 0.11035 TOU-PA-3-A Energy Summer ON-PEAK $ 0.22335 $ 0.22819 $ 0.24695 TOU-PA-3-A Energy Summer MID-PEAK $ 0.10261 $ 0.10479 $ 0.11325 TOU-PA-3-A Energy Summer OFF-PEAK $ 0.07145 $ 0.07295 $ 0.07876 TOU-PA-3-A Energy Winter MID-PEAK $ 0.12694 $ 0.12968 $ 0.14020 TOU-PA-3-A Energy Winter OFF-PEAK $ 0.08939 $ 0.09130 $ 0.09863 TOU-PA-3-B Energy Summer ON-PEAK $ 0.07903 $ 0.08069 $ 0.08714 TOU-PA-3-B Energy Summer MID-PEAK $ 0.07319 $ 0.07472 $ 0.08068 TOU-PA-3-B Energy Summer OFF-PEAK $ 0.07145 $ 0.07295 $ 0.07876 TOU-PA-3-B Energy Winter MID-PEAK $ 0.12694 $ 0.12968 $ 0.14020 TOU-PA-3-B Energy Winter OFF-PEAK $ 0.08939 $ 0.09130 $ 0.09863 TOU-PA-3-B Demand Summer ON-PEAK $ 9.07 $ 9.27 $ 10.05
TOU-PA-3-B Demand Summer MID-PEAK $ 2.65 $ 2.71 $ 2.94
TOU-PA-3-D Energy Summer ON-PEAK $ 0.10701 $ 0.10929 $ 0.11813 TOU-PA-3-D Energy Summer MID-PEAK $ 0.09791 $ 0.09998 $ 0.10805 TOU-PA-3-D Energy Summer OFF-PEAK $ 0.06599 $ 0.06737 $ 0.07271 TOU-PA-3-D Energy Winter MID-PEAK $ 0.11061 $ 0.11299 $ 0.12212 TOU-PA-3-D Energy Winter OFF-PEAK $ 0.11129 $ 0.11369 $ 0.12288 TOU-PA-3-D Energy Winter SUPER-OFF-PEAK $ 0.06011 $ 0.06137 $ 0.06620 TOU-PA-3-D Demand Summer ON-PEAK $ 12.89 $ 13.17 $ 14.27 TOU-PA-3-D Demand Winter MID-PEAK $ 3.73 $ 3.81 $ 4.13
TOU-PA-3-D5 Energy Summer ON-PEAK $ 0.19320 $ 0.19738 $ 0.21356 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 95
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-3-D5 Energy Summer MID-PEAK $ 0.18243 $ 0.18636 $ 0.20163 TOU-PA-3-D5 Energy Summer OFF-PEAK $ 0.06586 $ 0.06723 $ 0.07256 TOU-PA-3-D5 Energy Winter MID-PEAK $ 0.11401 $ 0.11646 $ 0.12589 TOU-PA-3-D5 Energy Winter OFF-PEAK $ 0.11471 $ 0.11718 $ 0.12667 TOU-PA-3-D5 Energy Winter SUPER-OFF-PEAK $ 0.06179 $ 0.06309 $ 0.06807 TOU-PA-3-D5 Demand Summer ON-PEAK $ 10.71 $ 10.95 $ 11.86 TOU-PA-3-D5 Demand Winter MID-PEAK $ 3.28 $ 3.35 $ 3.63 TOU-PA-3-E Energy Summer ON-PEAK $ 0.34686 $ 0.35441 $ 0.38370 TOU-PA-3-E Energy Summer MID-PEAK $ 0.09791 $ 0.09998 $ 0.10805 TOU-PA-3-E Energy Summer OFF-PEAK $ 0.06599 $ 0.06737 $ 0.07271 TOU-PA-3-E Energy Winter MID-PEAK $ 0.15657 $ 0.15997 $ 0.17302 TOU-PA-3-E Energy Winter OFF-PEAK $ 0.12540 $ 0.12811 $ 0.13850 TOU-PA-3-E Energy Winter SUPER-OFF-PEAK $ 0.04776 $ 0.04875 $ 0.05253 TOU-PA-3-E5 Energy Summer ON-PEAK $ 0.50655 $ 0.51760 $ 0.56051 TOU-PA-3-E5 Energy Summer MID-PEAK $ 0.18243 $ 0.18636 $ 0.20163 TOU-PA-3-E5 Energy Summer OFF-PEAK $ 0.06586 $ 0.06723 $ 0.07256 TOU-PA-3-E5 Energy Winter MID-PEAK $ 0.16357 $ 0.16713 $ 0.18077 TOU-PA-3-E5 Energy Winter OFF-PEAK $ 0.13098 $ 0.13382 $ 0.14468 TOU-PA-3-E5 Energy Winter SUPER-OFF-PEAK $ 0.04980 $ 0.05083 $ 0.05478 TOU-PA-3-PRI-A Energy Summer ON-PEAK $ 0.22181 $ 0.22661 $ 0.24524 TOU-PA-3-PRI-A Energy Summer MID-PEAK $ 0.10106 $ 0.10321 $ 0.11154 TOU-PA-3-PRI-A Energy Summer OFF-PEAK $ 0.06991 $ 0.07137 $ 0.07705 TOU-PA-3-PRI-A Energy Winter MID-PEAK $ 0.12487 $ 0.12757 $ 0.13791 TOU-PA-3-PRI-A Energy Winter OFF-PEAK $ 0.08732 $ 0.08919 $ 0.09634 TOU-PA-3-PRI-B Energy Summer ON-PEAK $ 0.07803 $ 0.07967 $ 0.08604 TOU-PA-3-PRI-B Energy Summer MID-PEAK $ 0.07219 $ 0.07371 $ 0.07958 TOU-PA-3-PRI-B Energy Summer OFF-PEAK $ 0.07046 $ 0.07194 $ 0.07766 TOU-PA-3-PRI-B Energy Winter MID-PEAK $ 0.12561 $ 0.12832 $ 0.13873 TOU-PA-3-PRI-B Energy Winter OFF-PEAK $ 0.08806 $ 0.08994 $ 0.09715 TOU-PA-3-PRI-B Demand Summer ON-PEAK $ 8.84 $ 9.03 $ 9.78 TOU-PA-3-PRI-B Demand Summer MID-PEAK $ 2.42 $ 2.47 $ 2.68 TOU-PA-3-PRI-D Energy Summer ON-PEAK $ 0.10602 $ 0.10827 $ 0.11703 TOU-PA-3-PRI-D Energy Summer MID-PEAK $ 0.09691 $ 0.09897 $ 0.10695 TOU-PA-3-PRI-D Energy Summer OFF-PEAK $ 0.06499 $ 0.06635 $ 0.07161 TOU-PA-3-PRI-D Energy Winter MID-PEAK $ 0.10928 $ 0.11163 $ 0.12065 TOU-PA-3-PRI-D Energy Winter OFF-PEAK $ 0.10996 $ 0.11233 $ 0.12141 TOU-PA-3-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05878 $ 0.06001 $ 0.06473 TOU-PA-3-PRI-D Demand Summer ON-PEAK $ 12.69 $ 12.97 $ 14.05 TOU-PA-3-PRI-D Demand Winter MID-PEAK $ 3.46 $ 3.54 $ 3.84 TOU-PA-3-PRI-D5 Energy Summer ON-PEAK $ 0.19212 $ 0.19627 $ 0.21236 TOU-PA-3-PRI-D5 Energy Summer MID-PEAK $ 0.18134 $ 0.18526 $ 0.20043 TOU-PA-3-PRI-D5 Energy Summer OFF-PEAK $ 0.06477 $ 0.06612 $ 0.07136 TOU-PA-3-PRI-D5 Energy Winter MID-PEAK $ 0.11256 $ 0.11498 $ 0.12428 TOU-PA-3-PRI-D5 Energy Winter OFF-PEAK $ 0.11326 $ 0.11570 $ 0.12506 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 96
Exhibit A to Resolution 23-06-050
Phase 4 and 5 Non-residential Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-3-PRI-D5 Energy Winter SUPER-OFF-PEAK $ 0.06034 $ 0.06161 $ 0.06646 TOU-PA-3-PRI-D5 Demand Summer ON-PEAK $ 10.55 $ 10.78 $ 11.68 TOU-PA-3-PRI-D5 Demand Winter MID-PEAK $ 3.06 $ 3.12 $ 3.38 TOU-PA-3-PRI-E Energy Summer ON-PEAK $ 0.34532 $ 0.35283 $ 0.38199 TOU-PA-3-PRI-E Energy Summer MID-PEAK $ 0.09636 $ 0.09840 $ 0.10634 TOU-PA-3-PRI-E Energy Summer OFF-PEAK $ 0.06444 $ 0.06579 $ 0.07100 TOU-PA-3-PRI-E Energy Winter MID-PEAK $ 0.15450 $ 0.15786 $ 0.17073 TOU-PA-3-PRI-E Energy Winter OFF-PEAK $ 0.12333 $ 0.12599 $ 0.13621 TOU-PA-3-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.04569 $ 0.04663 $ 0.05024 TOU-PA-3-PRI-E5 Energy Summer ON-PEAK $ 0.50500 $ 0.51603 $ 0.55879 TOU-PA-3-PRI-E5 Energy Summer MID-PEAK $ 0.18088 $ 0.18478 $ 0.19992 TOU-PA-3-PRI-E5 Energy Summer OFF-PEAK $ 0.06431 $ 0.06565 $ 0.07085 TOU-PA-3-PRI-E5 Energy Winter MID-PEAK $ 0.16151 $ 0.16502 $ 0.17848 TOU-PA-3-PRI-E5 Energy Winter OFF-PEAK $ 0.12892 $ 0.13170 $ 0.14240 TOU-PA-3-PRI-E5 Energy Winter SUPER-OFF-PEAK $ 0.04773 $ 0.04871 $ 0.05249 AL-2-F Energy All_Year NONE $ 0.11531 $ 0.11772 $ 0.12732 AL-2-GF Energy Summer ON-PEAK $ 0.27436 $ 0.28024 $ 0.30367 AL-2-GF Energy Summer OFF-PEAK $ 0.11531 $ 0.11772 $ 0.12732 AL-2-GF Energy Winter ON-PEAK $ 0.18319 $ 0.18709 $ 0.20264 AL-2-GF Energy Winter OFF-PEAK $ 0.11531 $ 0.11772 $ 0.12732 DWL Energy All_Year NONE $ 0.08145 $ 0.08344 $ 0.09143
LS-1 Energy All_Year NONE $ 0.11512 $ 0.11752 $ 0.12711 LS-3 Energy All_Year NONE $ 0.11531 $ 0.11772 $ 0.12732 TC-1 Energy All_Year NONE 0.11612 0.11922 0.13162
Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 97
Exhibit B to Resolution 23-06-050
Phase 4 and 5 Non-residential CARE Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN -
CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-1-A Energy Summer ON-PEAK $ 0.19399 $ 0.19791 $ 0.21358 $ 0.19791 TOU-GS-1-A Energy Summer MID-PEAK $ 0.18166 $ 0.18532 $ 0.19998 $ 0.18532 TOU-GS-1-A Energy Summer OFF-PEAK $ 0.17492 $ 0.17844 $ 0.19255 $ 0.17844 TOU-GS-1-A Energy Winter MID-PEAK $ 0.12985 $ 0.13245 $ 0.14285 $ 0.13245 TOU-GS-1-A Energy Winter OFF-PEAK $ 0.11719 $ 0.11953 $ 0.12889 $ 0.11953 TOU-GS-1-B Energy Summer ON-PEAK $ 0.10728 $ 0.10941 $ 0.11796 $ 0.10941 TOU-GS-1-B Energy Summer MID-PEAK $ 0.10055 $ 0.10255 $ 0.11054 $ 0.10255 TOU-GS-1-B Energy Summer OFF-PEAK $ 0.09687 $ 0.09880 $ 0.10649 $ 0.09880 TOU-GS-1-B Energy Winter MID-PEAK $ 0.12985 $ 0.13245 $ 0.14285 $ 0.13245 TOU-GS-1-B Energy Winter OFF-PEAK $ 0.11719 $ 0.11953 $ 0.12889 $ 0.11953 TOU-GS-1-B Demand Summer ON-PEAK $ 14.74 $ 15.04 $ 16.25 $ 15.04 TOU-GS-1-B Demand Summer MID-PEAK $ 4.80 $ 4.89 $ 5.29 $ 4.89 TOU-GS-1-D Energy Summer ON-PEAK $ 0.14578 $ 0.14871 $ 0.16042 $ 0.14871 TOU-GS-1-D Energy Summer MID-PEAK $ 0.13195 $ 0.13459 $ 0.14517 $ 0.13459 TOU-GS-1-D Energy Summer OFF-PEAK $ 0.08761 $ 0.08935 $ 0.09628 $ 0.08935 TOU-GS-1-D Energy Winter MID-PEAK $ 0.13744 $ 0.14020 $ 0.15122 $ 0.14020 TOU-GS-1-D Energy Winter OFF-PEAK $ 0.09800 $ 0.09994 $ 0.10773 $ 0.09994 TOU-GS-1-D Energy Winter SUPER-OFF-PEAK $ 0.07414 $ 0.07559 $ 0.08142 $ 0.07559 TOU-GS-1-D Demand Summer ON-PEAK $ 20.08 $ 20.49 $ 22.14 $ 20.49 TOU-GS-1-D Demand Winter MID-PEAK $ 6.17 $ 6.29 $ 6.80 $ 6.29 TOU-GS-1-E Energy Summer ON-PEAK $ 0.53479 $ 0.54571 $ 0.58938 $ 0.54571 TOU-GS-1-E Energy Summer MID-PEAK $ 0.14478 $ 0.14769 $ 0.15931 $ 0.14769 TOU-GS-1-E Energy Summer OFF-PEAK $ 0.10443 $ 0.10651 $ 0.11482 $ 0.10651 TOU-GS-1-E Energy Winter MID-PEAK $ 0.21803 $ 0.22244 $ 0.24008 $ 0.22244 TOU-GS-1-E Energy Winter OFF-PEAK $ 0.12257 $ 0.12502 $ 0.13482 $ 0.12502 TOU-GS-1-E Energy Winter SUPER-OFF-PEAK $ 0.06590 $ 0.06718 $ 0.07233 $ 0.06718 TOU-GS-1-ES Energy Summer ON-PEAK $ 0.57744 $ 0.58924 $ 0.63642 $ 0.58924 TOU-GS-1-ES Energy Summer MID-PEAK $ 0.15630 $ 0.15945 $ 0.17202 $ 0.15945 TOU-GS-1-ES Energy Summer OFF-PEAK $ 0.11258 $ 0.11482 $ 0.12380 $ 0.11482 TOU-GS-1-ES Energy Winter MID-PEAK $ 0.20373 $ 0.20785 $ 0.22432 $ 0.20785 TOU-GS-1-ES Energy Winter OFF-PEAK $ 0.11475 $ 0.11704 $ 0.12619 $ 0.11704 TOU-GS-1-ES Energy Winter SUPER-OFF-PEAK $ 0.06166 $ 0.06286 $ 0.06766 $ 0.06286 TOU-GS-1-PRI-A Energy Summer ON-PEAK $ 0.19238 $ 0.19627 $ 0.21180 $ 0.19627 TOU-GS-1-PRI-A Energy Summer MID-PEAK $ 0.18005 $ 0.18368 $ 0.19820 $ 0.18368 TOU-GS-1-PRI-A Energy Summer OFF-PEAK $ 0.17331 $ 0.17680 $ 0.19077 $ 0.17680 TOU-GS-1-PRI-A Energy Winter MID-PEAK $ 0.12824 $ 0.13081 $ 0.14107 $ 0.13081 TOU-GS-1-PRI-A Energy Winter OFF-PEAK $ 0.11558 $ 0.11789 $ 0.12712 $ 0.11789 TOU-GS-1-PRI-B Energy Summer ON-PEAK $ 0.10670 $ 0.10883 $ 0.11733 $ 0.10883 TOU-GS-1-PRI-B Energy Summer MID-PEAK $ 0.09998 $ 0.10196 $ 0.10991 $ 0.10196 TOU-GS-1-PRI-B Energy Summer OFF-PEAK $ 0.09630 $ 0.09821 $ 0.10586 $ 0.09821 TOU-GS-1-PRI-B Energy Winter MID-PEAK $ 0.12928 $ 0.13187 $ 0.14222 $ 0.13187 TOU-GS-1-PRI-B Energy Winter OFF-PEAK $ 0.11662 $ 0.11895 $ 0.12826 $ 0.11895 TOU-GS-1-PRI-B Demand Summer ON-PEAK $ 14.48 $ 14.78 $ 15.97 $ 14.78 TOU-GS-1-PRI-B Demand Summer MID-PEAK $ 4.54 $ 4.63 $ 5.01 $ 4.63 TOU-GS-1-PRI-D Energy Summer ON-PEAK $ 0.14521 $ 0.14812 $ 0.15979 $ 0.14812 TOU-GS-1-PRI-D Energy Summer MID-PEAK $ 0.13138 $ 0.13401 $ 0.14454 $ 0.13401 TOU-GS-1-PRI-D Energy Summer OFF-PEAK $ 0.08704 $ 0.08876 $ 0.09565 $ 0.08876 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 98
Exhibit B to Resolution 23-06-050
Phase 4 and 5 Non-residential CARE Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN -
CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-1-PRI-D Energy Winter MID-PEAK $ 0.13687 $ 0.13962 $ 0.15059 $ 0.13962 TOU-GS-1-PRI-D Energy Winter OFF-PEAK $ 0.09743 $ 0.09936 $ 0.10710 $ 0.09936 TOU-GS-1-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.07357 $ 0.07501 $ 0.08079 $ 0.07501 TOU-GS-1-PRI-D Demand Summer ON-PEAK $ 19.89 $ 20.30 $ 21.93 $ 20.30 TOU-GS-1-PRI-D Demand Winter MID-PEAK $ 5.98 $ 6.10 $ 6.59 $ 6.10 TOU-GS-1-PRI-E Energy Summer ON-PEAK $ 0.53318 $ 0.54407 $ 0.58761 $ 0.54407 TOU-GS-1-PRI-E Energy Summer MID-PEAK $ 0.14317 $ 0.14604 $ 0.15754 $ 0.14604 TOU-GS-1-PRI-E Energy Summer OFF-PEAK $ 0.10282 $ 0.10487 $ 0.11305 $ 0.10487 TOU-GS-1-PRI-E Energy Winter MID-PEAK $ 0.21642 $ 0.22080 $ 0.23831 $ 0.22080 TOU-GS-1-PRI-E Energy Winter OFF-PEAK $ 0.12096 $ 0.12338 $ 0.13305 $ 0.12338 TOU-GS-1-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.06429 $ 0.06554 $ 0.07056 $ 0.06554 TOU-GS-1-PRI-ES Energy Summer ON-PEAK $ 0.57583 $ 0.58760 $ 0.63464 $ 0.58760 TOU-GS-1-PRI-ES Energy Summer MID-PEAK $ 0.15470 $ 0.15781 $ 0.17025 $ 0.15781 TOU-GS-1-PRI-ES Energy Summer OFF-PEAK $ 0.11097 $ 0.11318 $ 0.12203 $ 0.11318 TOU-GS-1-PRI-ES Energy Winter MID-PEAK $ 0.20213 $ 0.20621 $ 0.22255 $ 0.20621 TOU-GS-1-PRI-ES Energy Winter OFF-PEAK $ 0.11314 $ 0.11539 $ 0.12442 $ 0.11539 TOU-GS-1-PRI-ES Energy Winter SUPER-OFF-PEAK $ 0.06005 $ 0.06122 $ 0.06589 $ 0.06122 TOU-GS-1-SUB-A Energy Summer ON-PEAK $ 0.19049 $ 0.19433 $ 0.20972 $ 0.19433 TOU-GS-1-SUB-A Energy Summer MID-PEAK $ 0.17815 $ 0.18175 $ 0.19612 $ 0.18175 TOU-GS-1-SUB-A Energy Summer OFF-PEAK $ 0.17142 $ 0.17487 $ 0.18869 $ 0.17487 TOU-GS-1-SUB-A Energy Winter MID-PEAK $ 0.12635 $ 0.12887 $ 0.13899 $ 0.12887 TOU-GS-1-SUB-A Energy Winter OFF-PEAK $ 0.11369 $ 0.11596 $ 0.12503 $ 0.11596 TOU-GS-1-SUB-B Energy Summer ON-PEAK $ 0.10616 $ 0.10828 $ 0.11673 $ 0.10828 TOU-GS-1-SUB-B Energy Summer MID-PEAK $ 0.09943 $ 0.10141 $ 0.10931 $ 0.10141 TOU-GS-1-SUB-B Energy Summer OFF-PEAK $ 0.09576 $ 0.09766 $ 0.10526 $ 0.09766 TOU-GS-1-SUB-B Energy Winter MID-PEAK $ 0.12873 $ 0.13131 $ 0.14162 $ 0.13131 TOU-GS-1-SUB-B Energy Winter OFF-PEAK $ 0.11608 $ 0.11840 $ 0.12766 $ 0.11840 TOU-GS-1-SUB-B Demand Summer ON-PEAK $ 14.15 $ 14.44 $ 15.60 $ 14.44 TOU-GS-1-SUB-B Demand Summer MID-PEAK $ 4.21 $ 4.29 $ 4.64 $ 4.29 TOU-GS-1-SUB-D Energy Summer ON-PEAK $ 0.14467 $ 0.14757 $ 0.15919 $ 0.14757 TOU-GS-1-SUB-D Energy Summer MID-PEAK $ 0.13084 $ 0.13346 $ 0.14394 $ 0.13346 TOU-GS-1-SUB-D Energy Summer OFF-PEAK $ 0.08650 $ 0.08821 $ 0.09505 $ 0.08821 TOU-GS-1-SUB-D Energy Winter MID-PEAK $ 0.13633 $ 0.13906 $ 0.14999 $ 0.13906 TOU-GS-1-SUB-D Energy Winter OFF-PEAK $ 0.09688 $ 0.09881 $ 0.10650 $ 0.09881 TOU-GS-1-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.07303 $ 0.07446 $ 0.08019 $ 0.07446 TOU-GS-1-SUB-D Demand Summer ON-PEAK $ 19.63 $ 20.04 $ 21.65 $ 20.04 TOU-GS-1-SUB-D Demand Winter MID-PEAK $ 5.72 $ 5.84 $ 6.31 $ 5.84 TOU-GS-1-SUB-E Energy Summer ON-PEAK $ 0.53129 $ 0.54213 $ 0.58552 $ 0.54213 TOU-GS-1-SUB-E Energy Summer MID-PEAK $ 0.14128 $ 0.14411 $ 0.15545 $ 0.14411 TOU-GS-1-SUB-E Energy Summer OFF-PEAK $ 0.10093 $ 0.10293 $ 0.11096 $ 0.10293 TOU-GS-1-SUB-E Energy Winter MID-PEAK $ 0.21453 $ 0.21886 $ 0.23622 $ 0.21886 TOU-GS-1-SUB-E Energy Winter OFF-PEAK $ 0.11907 $ 0.12144 $ 0.13096 $ 0.12144 TOU-GS-1-SUB-E Energy Winter SUPER-OFF-PEAK $ 0.06240 $ 0.06361 $ 0.06847 $ 0.06361 TOU-GS-2-B Energy Summer ON-PEAK $ 0.10254 $ 0.10465 $ 0.11307 $ 0.10465 TOU-GS-2-B Energy Summer MID-PEAK $ 0.09615 $ 0.09812 $ 0.10599 $ 0.09812 TOU-GS-2-B Energy Summer OFF-PEAK $ 0.09264 $ 0.09454 $ 0.10212 $ 0.09454 TOU-GS-2-B Energy Winter MID-PEAK $ 0.12385 $ 0.12641 $ 0.13664 $ 0.12641 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 99
Exhibit B to Resolution 23-06-050
Phase 4 and 5 Non-residential CARE Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN -
CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-2-B Energy Winter OFF-PEAK $ 0.07458 $ 0.07610 $ 0.08214 $ 0.07610 TOU-GS-2-B Demand Summer ON-PEAK $ 17.63 $ 18.00 $ 19.50 $ 18.00 TOU-GS-2-B Demand Summer MID-PEAK $ 5.92 $ 6.05 $ 6.55 $ 6.05 TOU-GS-2-D Energy Summer ON-PEAK $ 0.14038 $ 0.14329 $ 0.15492 $ 0.14329 TOU-GS-2-D Energy Summer MID-PEAK $ 0.12829 $ 0.13094 $ 0.14155 $ 0.13094 TOU-GS-2-D Energy Summer OFF-PEAK $ 0.08355 $ 0.08525 $ 0.09205 $ 0.08525 TOU-GS-2-D Energy Winter MID-PEAK $ 0.09587 $ 0.09784 $ 0.10569 $ 0.09784 TOU-GS-2-D Energy Winter OFF-PEAK $ 0.09643 $ 0.09841 $ 0.10631 $ 0.09841 TOU-GS-2-D Energy Winter SUPER-OFF-PEAK $ 0.05226 $ 0.05330 $ 0.05745 $ 0.05330 TOU-GS-2-D Demand Summer ON-PEAK $ 25.42 $ 25.96 $ 28.12 $ 25.96 TOU-GS-2-D Demand Winter MID-PEAK $ 6.67 $ 6.81 $ 7.38 $ 6.81 TOU-GS-2-E Energy Summer ON-PEAK $ 0.46351 $ 0.47328 $ 0.51238 $ 0.47328 TOU-GS-2-E Energy Summer MID-PEAK $ 0.12829 $ 0.13094 $ 0.14155 $ 0.13094 TOU-GS-2-E Energy Summer OFF-PEAK $ 0.08355 $ 0.08525 $ 0.09205 $ 0.08525 TOU-GS-2-E Energy Winter MID-PEAK $ 0.14710 $ 0.15015 $ 0.16235 $ 0.15015 TOU-GS-2-E Energy Winter OFF-PEAK $ 0.09643 $ 0.09841 $ 0.10631 $ 0.09841 TOU-GS-2-E Energy Winter SUPER-OFF-PEAK $ 0.05226 $ 0.05330 $ 0.05745 $ 0.05330 TOU-GS-2-E Demand Summer ON-PEAK $ 7.15 $ 7.30 $ 7.91 $ 7.30 TOU-GS-2-E Demand Winter MID-PEAK $ 2.77 $ 2.82 $ 3.06 $ 2.82 TOU-GS-2-PRI-B Energy Summer ON-PEAK $ 0.10140 $ 0.10348 $ 0.11181 $ 0.10348 TOU-GS-2-PRI-B Energy Summer MID-PEAK $ 0.09501 $ 0.09695 $ 0.10473 $ 0.09695 TOU-GS-2-PRI-B Energy Summer OFF-PEAK $ 0.09150 $ 0.09337 $ 0.10085 $ 0.09337 TOU-GS-2-PRI-B Energy Winter MID-PEAK $ 0.12271 $ 0.12524 $ 0.13538 $ 0.12524 TOU-GS-2-PRI-B Energy Winter OFF-PEAK $ 0.07344 $ 0.07493 $ 0.08088 $ 0.07493 TOU-GS-2-PRI-B Demand Summer ON-PEAK $ 16.93 $ 17.29 $ 18.72 $ 17.29 TOU-GS-2-PRI-B Demand Summer MID-PEAK $ 5.22 $ 5.33 $ 5.77 $ 5.33 TOU-GS-2-PRI-D Energy Summer ON-PEAK $ 0.13924 $ 0.14212 $ 0.15366 $ 0.14212 TOU-GS-2-PRI-D Energy Summer MID-PEAK $ 0.12715 $ 0.12978 $ 0.14029 $ 0.12978 TOU-GS-2-PRI-D Energy Summer OFF-PEAK $ 0.08241 $ 0.08408 $ 0.09079 $ 0.08408 TOU-GS-2-PRI-D Energy Winter MID-PEAK $ 0.09473 $ 0.09667 $ 0.10443 $ 0.09667 TOU-GS-2-PRI-D Energy Winter OFF-PEAK $ 0.09529 $ 0.09724 $ 0.10505 $ 0.09724 TOU-GS-2-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05112 $ 0.05213 $ 0.05618 $ 0.05213 TOU-GS-2-PRI-D Demand Summer ON-PEAK $ 24.84 $ 25.37 $ 27.48 $ 25.37 TOU-GS-2-PRI-D Demand Winter MID-PEAK $ 6.52 $ 6.66 $ 7.21 $ 6.66 TOU-GS-2-PRI-E Energy Summer ON-PEAK $ 0.46182 $ 0.47156 $ 0.51050 $ 0.47156 TOU-GS-2-PRI-E Energy Summer MID-PEAK $ 0.12660 $ 0.12921 $ 0.13968 $ 0.12921 TOU-GS-2-PRI-E Energy Summer OFF-PEAK $ 0.08185 $ 0.08352 $ 0.09018 $ 0.08352 TOU-GS-2-PRI-E Energy Winter MID-PEAK $ 0.14541 $ 0.14842 $ 0.16048 $ 0.14842 TOU-GS-2-PRI-E Energy Winter OFF-PEAK $ 0.09474 $ 0.09668 $ 0.10444 $ 0.09668 TOU-GS-2-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.05057 $ 0.05157 $ 0.05557 $ 0.05157 TOU-GS-2-PRI-E Demand Summer ON-PEAK $ 6.91 $ 7.06 $ 7.64 $ 7.06 TOU-GS-2-PRI-E Demand Winter MID-PEAK $ 2.70 $ 2.76 $ 2.99 $ 2.76 TOU-GS-2-PRI-R Energy Summer ON-PEAK $ 0.33246 $ 0.33944 $ 0.36740 $ 0.33944 TOU-GS-2-PRI-R Energy Summer MID-PEAK $ 0.15827 $ 0.16156 $ 0.17472 $ 0.16156 TOU-GS-2-PRI-R Energy Summer OFF-PEAK $ 0.08977 $ 0.09160 $ 0.09894 $ 0.09160 TOU-GS-2-PRI-R Energy Winter MID-PEAK $ 0.12098 $ 0.12348 $ 0.13347 $ 0.12348 TOU-GS-2-PRI-R Energy Winter OFF-PEAK $ 0.07171 $ 0.07316 $ 0.07897 $ 0.07316 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 100
Exhibit B to Resolution 23-06-050
Phase 4 and 5 Non-residential CARE Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN -
CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-2-R Energy Summer ON-PEAK $ 0.33533 $ 0.34238 $ 0.37058 $ 0.34238 TOU-GS-2-R Energy Summer MID-PEAK $ 0.16114 $ 0.16449 $ 0.17789 $ 0.16449 TOU-GS-2-R Energy Summer OFF-PEAK $ 0.09264 $ 0.09454 $ 0.10212 $ 0.09454 TOU-GS-2-R Energy Winter MID-PEAK $ 0.12385 $ 0.12641 $ 0.13664 $ 0.12641 TOU-GS-2-R Energy Winter OFF-PEAK $ 0.07458 $ 0.07610 $ 0.08214 $ 0.07610 TOU-GS-2-SUB-B Energy Summer ON-PEAK $ 0.10005 $ 0.10211 $ 0.11032 $ 0.10211 TOU-GS-2-SUB-B Energy Summer MID-PEAK $ 0.09366 $ 0.09557 $ 0.10324 $ 0.09557 TOU-GS-2-SUB-B Energy Summer OFF-PEAK $ 0.09015 $ 0.09199 $ 0.09936 $ 0.09199 TOU-GS-2-SUB-B Energy Winter MID-PEAK $ 0.12136 $ 0.12387 $ 0.13389 $ 0.12387 TOU-GS-2-SUB-B Energy Winter OFF-PEAK $ 0.07209 $ 0.07355 $ 0.07939 $ 0.07355 TOU-GS-2-SUB-B Demand Summer ON-PEAK $ 15.99 $ 16.33 $ 17.69 $ 16.33 TOU-GS-2-SUB-B Demand Summer MID-PEAK $ 4.29 $ 4.38 $ 4.74 $ 4.38 TOU-GS-2-SUB-D Energy Summer ON-PEAK $ 0.13789 $ 0.14074 $ 0.15217 $ 0.14074 TOU-GS-2-SUB-D Energy Summer MID-PEAK $ 0.12580 $ 0.12840 $ 0.13880 $ 0.12840 TOU-GS-2-SUB-D Energy Summer OFF-PEAK $ 0.08106 $ 0.08270 $ 0.08930 $ 0.08270 TOU-GS-2-SUB-D Energy Winter MID-PEAK $ 0.09338 $ 0.09529 $ 0.10294 $ 0.09529 TOU-GS-2-SUB-D Energy Winter OFF-PEAK $ 0.09394 $ 0.09587 $ 0.10356 $ 0.09587 TOU-GS-2-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.04977 $ 0.05075 $ 0.05469 $ 0.05075 TOU-GS-2-SUB-D Demand Summer ON-PEAK $ 24.08 $ 24.59 $ 26.64 $ 24.59 TOU-GS-2-SUB-D Demand Winter MID-PEAK $ 6.32 $ 6.45 $ 6.99 $ 6.45 TOU-GS-3-B Energy Summer ON-PEAK $ 0.09816 $ 0.10004 $ 0.10752 $ 0.10004 TOU-GS-3-B Energy Summer MID-PEAK $ 0.09188 $ 0.09363 $ 0.10062 $ 0.09363 TOU-GS-3-B Energy Summer OFF-PEAK $ 0.08868 $ 0.09037 $ 0.09710 $ 0.09037 TOU-GS-3-B Energy Winter MID-PEAK $ 0.12370 $ 0.12607 $ 0.13558 $ 0.12607 TOU-GS-3-B Energy Winter OFF-PEAK $ 0.07346 $ 0.07484 $ 0.08038 $ 0.07484 TOU-GS-3-B Demand Summer ON-PEAK $ 14.67 $ 14.96 $ 16.12 $ 14.96 TOU-GS-3-B Demand Summer MID-PEAK $ 4.90 $ 5.00 $ 5.38 $ 5.00 TOU-GS-3-D Energy Summer ON-PEAK $ 0.13079 $ 0.13331 $ 0.14337 $ 0.13331 TOU-GS-3-D Energy Summer MID-PEAK $ 0.11956 $ 0.12186 $ 0.13103 $ 0.12186 TOU-GS-3-D Energy Summer OFF-PEAK $ 0.08183 $ 0.08338 $ 0.08958 $ 0.08338 TOU-GS-3-D Energy Winter MID-PEAK $ 0.09391 $ 0.09570 $ 0.10285 $ 0.09570 TOU-GS-3-D Energy Winter OFF-PEAK $ 0.09447 $ 0.09627 $ 0.10346 $ 0.09627 TOU-GS-3-D Energy Winter SUPER-OFF-PEAK $ 0.05121 $ 0.05215 $ 0.05593 $ 0.05215 TOU-GS-3-D Demand Summer ON-PEAK $ 21.89 $ 22.33 $ 24.05 $ 22.33 TOU-GS-3-D Demand Winter MID-PEAK $ 7.92 $ 8.08 $ 8.70 $ 8.08 TOU-GS-3-E Energy Summer ON-PEAK $ 0.37982 $ 0.38725 $ 0.41698 $ 0.38725 TOU-GS-3-E Energy Summer MID-PEAK $ 0.11956 $ 0.12186 $ 0.13103 $ 0.12186 TOU-GS-3-E Energy Summer OFF-PEAK $ 0.08183 $ 0.08338 $ 0.08958 $ 0.08338 TOU-GS-3-E Energy Winter MID-PEAK $ 0.14914 $ 0.15202 $ 0.16353 $ 0.15202 TOU-GS-3-E Energy Winter OFF-PEAK $ 0.09447 $ 0.09627 $ 0.10346 $ 0.09627 TOU-GS-3-E Energy Winter SUPER-OFF-PEAK $ 0.05121 $ 0.05215 $ 0.05593 $ 0.05215 TOU-GS-3-E Demand Summer ON-PEAK $ 6.16 $ 6.28 $ 6.76 $ 6.28 TOU-GS-3-E Demand Winter MID-PEAK $ 3.28 $ 3.34 $ 3.60 $ 3.34 TOU-GS-3-PRI-B Energy Summer ON-PEAK $ 0.09702 $ 0.09887 $ 0.10627 $ 0.09887 TOU-GS-3-PRI-B Energy Summer MID-PEAK $ 0.09074 $ 0.09247 $ 0.09937 $ 0.09247 TOU-GS-3-PRI-B Energy Summer OFF-PEAK $ 0.08754 $ 0.08920 $ 0.09585 $ 0.08920 TOU-GS-3-PRI-B Energy Winter MID-PEAK $ 0.12255 $ 0.12491 $ 0.13432 $ 0.12491 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 101
Exhibit B to Resolution 23-06-050
Phase 4 and 5 Non-residential CARE Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN -
CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-3-PRI-B Energy Winter OFF-PEAK $ 0.07232 $ 0.07368 $ 0.07912 $ 0.07368 TOU-GS-3-PRI-B Demand Summer ON-PEAK $ 14.06 $ 14.34 $ 15.45 $ 14.34 TOU-GS-3-PRI-B Demand Summer MID-PEAK $ 4.29 $ 4.37 $ 4.71 $ 4.37 TOU-GS-3-PRI-D Energy Summer ON-PEAK $ 0.12965 $ 0.13214 $ 0.14211 $ 0.13214 TOU-GS-3-PRI-D Energy Summer MID-PEAK $ 0.11842 $ 0.12069 $ 0.12978 $ 0.12069 TOU-GS-3-PRI-D Energy Summer OFF-PEAK $ 0.08068 $ 0.08221 $ 0.08832 $ 0.08221 TOU-GS-3-PRI-D Energy Winter MID-PEAK $ 0.09277 $ 0.09454 $ 0.10160 $ 0.09454 TOU-GS-3-PRI-D Energy Winter OFF-PEAK $ 0.09332 $ 0.09510 $ 0.10220 $ 0.09510 TOU-GS-3-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05006 $ 0.05098 $ 0.05467 $ 0.05098 TOU-GS-3-PRI-D Demand Summer ON-PEAK $ 21.39 $ 21.81 $ 23.50 $ 21.81 TOU-GS-3-PRI-D Demand Winter MID-PEAK $ 7.73 $ 7.88 $ 8.49 $ 7.88 TOU-GS-3-PRI-E Energy Summer ON-PEAK $ 0.37773 $ 0.38512 $ 0.41468 $ 0.38512 TOU-GS-3-PRI-E Energy Summer MID-PEAK $ 0.11747 $ 0.11973 $ 0.12874 $ 0.11973 TOU-GS-3-PRI-E Energy Summer OFF-PEAK $ 0.07974 $ 0.08125 $ 0.08728 $ 0.08125 TOU-GS-3-PRI-E Energy Winter MID-PEAK $ 0.14705 $ 0.14989 $ 0.16123 $ 0.14989 TOU-GS-3-PRI-E Energy Winter OFF-PEAK $ 0.09238 $ 0.09414 $ 0.10117 $ 0.09414 TOU-GS-3-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.04912 $ 0.05002 $ 0.05364 $ 0.05002 TOU-GS-3-PRI-E Demand Summer ON-PEAK $ 5.95 $ 6.06 $ 6.53 $ 6.06 TOU-GS-3-PRI-E Demand Winter MID-PEAK $ 3.20 $ 3.27 $ 3.52 $ 3.27 TOU-GS-3-PRI-R Energy Summer ON-PEAK $ 0.27633 $ 0.28172 $ 0.30327 $ 0.28172 TOU-GS-3-PRI-R Energy Summer MID-PEAK $ 0.13670 $ 0.13933 $ 0.14986 $ 0.13933 TOU-GS-3-PRI-R Energy Summer OFF-PEAK $ 0.08624 $ 0.08788 $ 0.09442 $ 0.08788 TOU-GS-3-PRI-R Energy Winter MID-PEAK $ 0.12126 $ 0.12359 $ 0.13290 $ 0.12359 TOU-GS-3-PRI-R Energy Winter OFF-PEAK $ 0.07102 $ 0.07236 $ 0.07770 $ 0.07236 TOU-GS-3-R Energy Summer ON-PEAK $ 0.27877 $ 0.28421 $ 0.30595 $ 0.28421 TOU-GS-3-R Energy Summer MID-PEAK $ 0.13914 $ 0.14182 $ 0.15254 $ 0.14182 TOU-GS-3-R Energy Summer OFF-PEAK $ 0.08868 $ 0.09037 $ 0.09710 $ 0.09037 TOU-GS-3-R Energy Winter MID-PEAK $ 0.12370 $ 0.12607 $ 0.13558 $ 0.12607 TOU-GS-3-R Energy Winter OFF-PEAK $ 0.07346 $ 0.07484 $ 0.08038 $ 0.07484 TOU-GS-3-SUB-D Energy Summer ON-PEAK $ 0.12830 $ 0.13077 $ 0.14064 $ 0.13077 TOU-GS-3-SUB-D Energy Summer MID-PEAK $ 0.11707 $ 0.11932 $ 0.12830 $ 0.11932 TOU-GS-3-SUB-D Energy Summer OFF-PEAK $ 0.07934 $ 0.08084 $ 0.08684 $ 0.08084 TOU-GS-3-SUB-D Energy Winter MID-PEAK $ 0.09143 $ 0.09317 $ 0.10012 $ 0.09317 TOU-GS-3-SUB-D Energy Winter OFF-PEAK $ 0.09198 $ 0.09373 $ 0.10073 $ 0.09373 TOU-GS-3-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.04872 $ 0.04961 $ 0.05320 $ 0.04961 TOU-GS-3-SUB-D Demand Summer ON-PEAK $ 20.72 $ 21.13 $ 22.77 $ 21.13 TOU-GS-3-SUB-D Demand Winter MID-PEAK $ 7.49 $ 7.64 $ 8.23 $ 7.64 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 102
Exhibit C to Resolution 23-06-050
Phase 4 and 5 Wind Machine Credit Rate Schedules Effective July 1, 2023 CPA RATE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-2-A Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-B Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-D Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-D-5 Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-E Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-E-5 Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-A Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-B Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-D Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-D-5 Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-E Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-E-5 Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) Wind Machine Credit: Agricultural customers served under a PA-2 rate schedule who incur energy usage during the Winter Season solely for wind machine operations that have been determined eligible by SCE will receive a monthly winter demand credit based on highest recorded off-peak monthly kW demand. All demand credits are shown in $/kW.
Winter season commences at 12:00 a.m. on October 1 of each year and continues until 12:00 a.m. on June 1 Agenda Page 103
Exhibit D to Resolution 23-06-050
Phase 4 and 5 Peak Management Pricing (PMP) Rate Schedules Effective July 1, 2023 CPA RATE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-GS-1 Energy Credit Summer On-Peak $ (0.17054) $ (0.17054) $ (0.17054) TOU-GS-2 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-GS-2 Demand Credit Summer On-Peak $ (8.56) $ (8.56) $ (8.56) TOU-GS-3 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-GS-3 Demand Credit Summer On-Peak $ (9.44) $ (9.44) $ (9.44) TOU-8-SEC Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-8-SEC Demand Credit Summer On-Peak $ (10.28) $ (10.28) $ (10.28) TOU-8-PRI Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-8-PRI Demand Credit Summer On-Peak $ (10.65) $ (10.65) $ (10.65) TOU-8-SUB Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-8-SUB Demand Credit Summer On-Peak $ (10.55) $ (10.55) $ (10.55) TOU-PA-2 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-PA-2 Demand Credit Summer On-Peak $ (7.10) $ (7.10) $ (7.10) TOU-PA-3 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-PA-3 Demand Credit Summer On-Peak $ (7.73) $ (7.73) $ (7.73) Credit is applied to peak demand charge in $/kW, except TOU-GS-1 customers for which it is applied to on-peak energy charges in ($/kWh). Rates apply equally to all service voltages.
Agenda Page 104
RESO NO. 23-06-051
RESOLUTION NO. 23-06-051
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA
TO APPROVE 2023 RATES FOR PHASE 6 CUSTOMERS
THE BOARD OF DIRECTORS OF THE CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA DOES HEREBY FIND, RESOLVE, AND ORDER AS FOLLOWS:
WHEREAS, the Clean Power Alliance of Southern California (formerly known as Los Angeles Community Choice Energy Authority) (“Clean Power Alliance” or “CPA”) was formed on June 27, 2017;
WHEREAS, on March 1, 2024, Phase 6 will commence with the enrollment of all customers in Hermosa Beach, Monrovia, and Santa Paula, necessitating the adoption of rates for Phase 6 customers;
WHEREAS, on June 6, 2019, the Board authorized rates for the implementation of the Peak Management Pricing demand response program and the Wind Machine Credit for eligible TOU-PA-2 customers that utilize wind machines to prevent crop freezing;
WHEREAS, on December 7, 2020 the Board approved the Power Share Tariff which would provide a 20 percent discount to eligible customers on their generation and delivery charges and require that Power Share rates be adjusted to maintain the 20 percent discount whenever the otherwise applicable CPA or Southern California Edison (“SCE”) rates change; and authorized the Chief Executive Officer to change the rates to maintain the 20 percent discount;
WHEREAS, on May 4, 2023, the Board approved a FY 2023-2024 rate setting approach that based on representative customer load profiles and customer usage:
a. Set the CPA target rate product differential between 100% Green Power rate product and Clean Power rate product to 4% and the target price differential between 100% Green Power rate product and Lean Power rate product to 5% as informed by CPA’s projected FY 2023-24 cost of service (COS),
b. Direct staff to develop rates for each of CPA’s three rate products for residential and small and medium business customers1 such that the 100% Green rate product targets at a 3% total bill premium compared to Southern California Edison (“SCE”) base rates as of March 1, 2023, Clean Power at a 1% total bill discount target compared to SCE base rates as of March 1, 2023, and Lean Power at a 2% total bill discount target compared to SCE base rates as of March 1, 2023, for customers on the 2023 Power 1 Small and medium business customers are considered to be on the TOU-GS-1 and TOU-GS-2 rate class.
Agenda Page 105
RESO NO. 23-06-051
Charge Indifference Adjustment vintage,
c. Update rates for large commercial, pumping and agriculture, and streetlighting customer2 rate classes (“Subset Customers”) to reflect CPA’s projected FY 2023-24 COS, and
d. Set total bill comparisons for customers in the cities of Hermosa Beach, Monrovia, and Santa Paula at the same total bill comparison levels as customers of the current member agencies;
(subsections (a)-(d) are collectively referred to as “Rate Setting Approach”) WHEREAS, it is anticipated that SCE will change its rates or charges effective June 1, 2023, and recognizes that SCE may change its rates from time to time, which can impact Power Share rates requiring CPA to make corresponding changes; and WHEREAS, it is anticipated that SCE will change the Power Charge Indifference Adjustment rate (“PCIA”) around the time of the enrollment of Phase 6 customers, requiring CPA to make corresponding rate changes to maintain the Rate Setting Approach for these customers.
NOW THEREFORE, BE IT DETERMINED, ORDERED, AND RESOLVED,
BY THE BOARD OF DIRECTORS OF THE CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA THAT:
1. The Rate Setting Approach for FY 2023-2024 will apply to all rates for Phase 6 customers.
2. The proposed Phase 6 rate schedules as presented in Exhibit A are hereby approved effective July 1, 2023.
3. The proposed Phase 6 rate schedules for CARE, FERA, and Medical Baseline customers as presented in Exhibit B are hereby approved effective July 1, 2023.
4. The proposed Power Share Rates for Phase 6 as presented in Exhibit C are hereby approved effective July 1, 2023, and the Chief Executive Officer is delegated authority to amend Power Share Rates from time to time.
5. The proposed Phase 6 rate schedules as presented in Exhibits A and B may be amended by the Chief Executive Officer on or before June 30, 2024, in order to maintain the FY 2023-2024 Rate Setting Approach.
6. The proposed Phase 6 Wind Machine Credit rates as presented in Exhibit D are hereby approved effective July 1, 2023.
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2 Subset Customers are on TOU-8, TOU-GS-3, TOU-PA-2, TOU-PA-3, and LS-1 rate schedules for Phase 6 customers.
Agenda Page 106
RESO NO. 23-06-051
7. The proposed Phase 6 Peak Management Pricing rates as presented in Exhibit E are hereby approved effective July 1, 2023.
APPROVED AND ADOPTED this 1st day of June 2023.
Julian Gold, Chair
ATTEST:
Gabriela Monzon, Secretary
Agenda Page 107
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
DOMESTIC Energy All_Year NONE $ 0.13041 $ 0.13377 $ 0.14724 TOU-D-4 Energy Summer ON-PEAK $ 0.25416 $ 0.26038 $ 0.28523 TOU-D-4 Energy Summer MID-PEAK $ 0.15197 $ 0.15584 $ 0.17128 TOU-D-4 Energy Summer OFF-PEAK $ 0.09213 $ 0.09462 $ 0.10456 TOU-D-4 Energy Winter MID-PEAK $ 0.19008 $ 0.19482 $ 0.21377 TOU-D-4 Energy Winter OFF-PEAK $ 0.11537 $ 0.11839 $ 0.13047 TOU-D-4 Energy Winter SUPER-OFF-PEAK $ 0.09681 $ 0.09940 $ 0.10978 TOU-D-5 Energy Summer ON-PEAK $ 0.38703 $ 0.39630 $ 0.43338 TOU-D-5 Energy Summer MID-PEAK $ 0.21679 $ 0.22214 $ 0.24355 TOU-D-5 Energy Summer OFF-PEAK $ 0.08408 $ 0.08638 $ 0.09558 TOU-D-5 Energy Winter MID-PEAK $ 0.27016 $ 0.27674 $ 0.30306 TOU-D-5 Energy Winter OFF-PEAK $ 0.11433 $ 0.11733 $ 0.12932 TOU-D-5 Energy Winter SUPER-OFF-PEAK $ 0.08587 $ 0.08821 $ 0.09758 TOU-D-A Energy Summer ON-PEAK $ 0.32227 $ 0.33005 $ 0.36117 TOU-D-A Energy Summer OFF-PEAK $ 0.12533 $ 0.12858 $ 0.14158 TOU-D-A Energy Summer SUPER-OFF-PEAK $ 0.08358 $ 0.08587 $ 0.09502 TOU-D-A Energy Winter ON-PEAK $ 0.18497 $ 0.18959 $ 0.20808 TOU-D-A Energy Winter OFF-PEAK $ 0.09165 $ 0.09412 $ 0.10402 TOU-D-A Energy Winter SUPER-OFF-PEAK $ 0.08587 $ 0.08821 $ 0.09758 TOU-D-B Energy Summer ON-PEAK $ 0.49102 $ 0.50268 $ 0.54933 TOU-D-B Energy Summer OFF-PEAK $ 0.12527 $ 0.12852 $ 0.14151 TOU-D-B Energy Summer SUPER-OFF-PEAK $ 0.03880 $ 0.04006 $ 0.04509 TOU-D-B Energy Winter ON-PEAK $ 0.16730 $ 0.17151 $ 0.18837 TOU-D-B Energy Winter OFF-PEAK $ 0.09166 $ 0.09413 $ 0.10403 TOU-D-B Energy Winter SUPER-OFF-PEAK $ 0.04006 $ 0.04134 $ 0.04650 TOU-D-PRIME Energy Summer ON-PEAK $ 0.36331 $ 0.37204 $ 0.40693 TOU-D-PRIME Energy Summer MID-PEAK $ 0.11903 $ 0.12214 $ 0.13455 TOU-D-PRIME Energy Summer OFF-PEAK $ 0.07417 $ 0.07625 $ 0.08454 TOU-D-PRIME Energy Winter MID-PEAK $ 0.30354 $ 0.31089 $ 0.34028 TOU-D-PRIME Energy Winter OFF-PEAK $ 0.06059 $ 0.06235 $ 0.06939 TOU-D-PRIME Energy Winter SUPER-OFF-PEAK $ 0.06059 $ 0.06235 $ 0.06939 TOU-D-T Energy Summer ON-PEAK $ 0.16966 $ 0.17393 $ 0.19100 TOU-D-T Energy Summer OFF-PEAK $ 0.15279 $ 0.15667 $ 0.17219 TOU-D-T Energy Winter ON-PEAK $ 0.12381 $ 0.12702 $ 0.13988 TOU-D-T Energy Winter OFF-PEAK $ 0.11110 $ 0.11403 $ 0.12571 TOU-EV-1 Energy Summer ON-PEAK $ 0.33907 $ 0.34723 $ 0.37990 TOU-EV-1 Energy Summer OFF-PEAK $ 0.03833 $ 0.03958 $ 0.04457 TOU-EV-1 Energy Winter ON-PEAK $ 0.13383 $ 0.13727 $ 0.15105 TOU-EV-1 Energy Winter OFF-PEAK $ 0.05129 $ 0.05284 $ 0.05902 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 108
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1-A Energy Summer ON-PEAK $ 0.17933 $ 0.18325 $ 0.19892 TOU-GS-1-A Energy Summer MID-PEAK $ 0.16700 $ 0.17066 $ 0.18532 TOU-GS-1-A Energy Summer OFF-PEAK $ 0.16026 $ 0.16378 $ 0.17789 TOU-GS-1-A Energy Winter MID-PEAK $ 0.11519 $ 0.11779 $ 0.12819 TOU-GS-1-A Energy Winter OFF-PEAK $ 0.10253 $ 0.10487 $ 0.11423 TOU-GS-1-B Energy Summer ON-PEAK $ 0.09262 $ 0.09475 $ 0.10330 TOU-GS-1-B Energy Summer MID-PEAK $ 0.08589 $ 0.08789 $ 0.09588 TOU-GS-1-B Energy Summer OFF-PEAK $ 0.08221 $ 0.08414 $ 0.09183 TOU-GS-1-B Energy Winter MID-PEAK $ 0.11519 $ 0.11779 $ 0.12819 TOU-GS-1-B Energy Winter OFF-PEAK $ 0.10253 $ 0.10487 $ 0.11423 TOU-GS-1-B Demand Summer ON-PEAK $ 14.74 $ 15.04 $ 16.25 TOU-GS-1-B Demand Summer MID-PEAK $ 4.80 $ 4.89 $ 5.29
TOU-GS-1-D Energy Summer ON-PEAK $ 0.13112 $ 0.13405 $ 0.14576 TOU-GS-1-D Energy Summer MID-PEAK $ 0.11729 $ 0.11993 $ 0.13051 TOU-GS-1-D Energy Summer OFF-PEAK $ 0.07295 $ 0.07469 $ 0.08162 TOU-GS-1-D Energy Winter MID-PEAK $ 0.12278 $ 0.12554 $ 0.13656 TOU-GS-1-D Energy Winter OFF-PEAK $ 0.08334 $ 0.08528 $ 0.09307 TOU-GS-1-D Energy Winter SUPER-OFF-PEAK $ 0.05948 $ 0.06093 $ 0.06676 TOU-GS-1-D Demand Summer ON-PEAK $ 20.08 $ 20.49 $ 22.14 TOU-GS-1-D Demand Winter MID-PEAK $ 6.17 $ 6.29 $ 6.80
TOU-GS-1-E Energy Summer ON-PEAK $ 0.52013 $ 0.53105 $ 0.57472 TOU-GS-1-E Energy Summer MID-PEAK $ 0.13012 $ 0.13303 $ 0.14465 TOU-GS-1-E Energy Summer OFF-PEAK $ 0.08977 $ 0.09185 $ 0.10016 TOU-GS-1-E Energy Winter MID-PEAK $ 0.20337 $ 0.20778 $ 0.22542 TOU-GS-1-E Energy Winter OFF-PEAK $ 0.10791 $ 0.11036 $ 0.12016 TOU-GS-1-E Energy Winter SUPER-OFF-PEAK $ 0.05124 $ 0.05252 $ 0.05767 TOU-GS-1-ES Energy Summer ON-PEAK $ 0.56278 $ 0.57458 $ 0.62176 TOU-GS-1-ES Energy Summer MID-PEAK $ 0.14164 $ 0.14479 $ 0.15736 TOU-GS-1-ES Energy Summer OFF-PEAK $ 0.09792 $ 0.10016 $ 0.10914 TOU-GS-1-ES Energy Winter MID-PEAK $ 0.18907 $ 0.19319 $ 0.20966 TOU-GS-1-ES Energy Winter OFF-PEAK $ 0.10009 $ 0.10238 $ 0.11153 TOU-GS-1-ES Energy Winter SUPER-OFF-PEAK $ 0.04700 $ 0.04820 $ 0.05300 TOU-GS-1-PRI-A Energy Summer ON-PEAK $ 0.17772 $ 0.18161 $ 0.19714 TOU-GS-1-PRI-A Energy Summer MID-PEAK $ 0.16539 $ 0.16902 $ 0.18354 TOU-GS-1-PRI-A Energy Summer OFF-PEAK $ 0.15865 $ 0.16214 $ 0.17611 TOU-GS-1-PRI-A Energy Winter MID-PEAK $ 0.11358 $ 0.11615 $ 0.12641 TOU-GS-1-PRI-A Energy Winter OFF-PEAK $ 0.10092 $ 0.10323 $ 0.11246 TOU-GS-1-PRI-B Energy Summer ON-PEAK $ 0.09204 $ 0.09417 $ 0.10267 TOU-GS-1-PRI-B Energy Summer MID-PEAK $ 0.08532 $ 0.08730 $ 0.09525 TOU-GS-1-PRI-B Energy Summer OFF-PEAK $ 0.08164 $ 0.08355 $ 0.09120 TOU-GS-1-PRI-B Energy Winter MID-PEAK $ 0.11462 $ 0.11721 $ 0.12756 TOU-GS-1-PRI-B Energy Winter OFF-PEAK $ 0.10196 $ 0.10429 $ 0.11360 TOU-GS-1-PRI-B Demand Summer ON-PEAK $ 14.48 $ 14.78 $ 15.97 TOU-GS-1-PRI-B Demand Summer MID-PEAK $ 4.54 $ 4.63 $ 5.01 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 109
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1-PRI-D Energy Summer ON-PEAK $ 0.13055 $ 0.13346 $ 0.14513 TOU-GS-1-PRI-D Energy Summer MID-PEAK $ 0.11672 $ 0.11935 $ 0.12988 TOU-GS-1-PRI-D Energy Summer OFF-PEAK $ 0.07238 $ 0.07410 $ 0.08099 TOU-GS-1-PRI-D Energy Winter MID-PEAK $ 0.12221 $ 0.12496 $ 0.13593 TOU-GS-1-PRI-D Energy Winter OFF-PEAK $ 0.08277 $ 0.08470 $ 0.09244 TOU-GS-1-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05891 $ 0.06035 $ 0.06613 TOU-GS-1-PRI-D Demand Summer ON-PEAK $ 19.89 $ 20.30 $ 21.93 TOU-GS-1-PRI-D Demand Winter MID-PEAK $ 5.98 $ 6.10 $ 6.59 TOU-GS-1-PRI-E Energy Summer ON-PEAK $ 0.51852 $ 0.52941 $ 0.57295 TOU-GS-1-PRI-E Energy Summer MID-PEAK $ 0.12851 $ 0.13138 $ 0.14288 TOU-GS-1-PRI-E Energy Summer OFF-PEAK $ 0.08816 $ 0.09021 $ 0.09839 TOU-GS-1-PRI-E Energy Winter MID-PEAK $ 0.20176 $ 0.20614 $ 0.22365 TOU-GS-1-PRI-E Energy Winter OFF-PEAK $ 0.10630 $ 0.10872 $ 0.11839 TOU-GS-1-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.04963 $ 0.05088 $ 0.05590 TOU-GS-1-PRI-ES Energy Summer ON-PEAK $ 0.56117 $ 0.57294 $ 0.61998 TOU-GS-1-PRI-ES Energy Summer MID-PEAK $ 0.14004 $ 0.14315 $ 0.15559 TOU-GS-1-PRI-ES Energy Summer OFF-PEAK $ 0.09631 $ 0.09852 $ 0.10737 TOU-GS-1-PRI-ES Energy Winter MID-PEAK $ 0.18747 $ 0.19155 $ 0.20789 TOU-GS-1-PRI-ES Energy Winter OFF-PEAK $ 0.09848 $ 0.10073 $ 0.10976 TOU-GS-1-PRI-ES Energy Winter SUPER-OFF-PEAK $ 0.04539 $ 0.04656 $ 0.05123 TOU-GS-1-SUB-A Energy Summer ON-PEAK $ 0.17583 $ 0.17967 $ 0.19506 TOU-GS-1-SUB-A Energy Summer MID-PEAK $ 0.16349 $ 0.16709 $ 0.18146 TOU-GS-1-SUB-A Energy Summer OFF-PEAK $ 0.15676 $ 0.16021 $ 0.17403 TOU-GS-1-SUB-A Energy Winter MID-PEAK $ 0.11169 $ 0.11421 $ 0.12433 TOU-GS-1-SUB-A Energy Winter OFF-PEAK $ 0.09903 $ 0.10130 $ 0.11037 TOU-GS-1-SUB-B Energy Summer ON-PEAK $ 0.09150 $ 0.09362 $ 0.10207 TOU-GS-1-SUB-B Energy Summer MID-PEAK $ 0.08477 $ 0.08675 $ 0.09465 TOU-GS-1-SUB-B Energy Summer OFF-PEAK $ 0.08110 $ 0.08300 $ 0.09060 TOU-GS-1-SUB-B Energy Winter MID-PEAK $ 0.11407 $ 0.11665 $ 0.12696 TOU-GS-1-SUB-B Energy Winter OFF-PEAK $ 0.10142 $ 0.10374 $ 0.11300 TOU-GS-1-SUB-B Demand Summer ON-PEAK $ 14.15 $ 14.44 $ 15.60 TOU-GS-1-SUB-B Demand Summer MID-PEAK $ 4.21 $ 4.29 $ 4.64 TOU-GS-1-SUB-D Energy Summer ON-PEAK $ 0.13001 $ 0.13291 $ 0.14453 TOU-GS-1-SUB-D Energy Summer MID-PEAK $ 0.11618 $ 0.11880 $ 0.12928 TOU-GS-1-SUB-D Energy Summer OFF-PEAK $ 0.07184 $ 0.07355 $ 0.08039 TOU-GS-1-SUB-D Energy Winter MID-PEAK $ 0.12167 $ 0.12440 $ 0.13533 TOU-GS-1-SUB-D Energy Winter OFF-PEAK $ 0.08222 $ 0.08415 $ 0.09184 TOU-GS-1-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.05837 $ 0.05980 $ 0.06553 TOU-GS-1-SUB-D Demand Summer ON-PEAK $ 19.63 $ 20.04 $ 21.65 TOU-GS-1-SUB-D Demand Winter MID-PEAK $ 5.72 $ 5.84 $ 6.31 TOU-GS-1-SUB-E Energy Summer ON-PEAK $ 0.51663 $ 0.52747 $ 0.57086 TOU-GS-1-SUB-E Energy Summer MID-PEAK $ 0.12662 $ 0.12945 $ 0.14079 TOU-GS-1-SUB-E Energy Summer OFF-PEAK $ 0.08627 $ 0.08827 $ 0.09630 TOU-GS-1-SUB-E Energy Winter MID-PEAK $ 0.19987 $ 0.20420 $ 0.22156 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 110
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1-SUB-E Energy Winter OFF-PEAK $ 0.10441 $ 0.10678 $ 0.11630 TOU-GS-1-SUB-E Energy Winter SUPER-OFF-PEAK $ 0.04774 $ 0.04895 $ 0.05381 TOU-GS-2-B Energy Summer ON-PEAK $ 0.08717 $ 0.08928 $ 0.09770 TOU-GS-2-B Energy Summer MID-PEAK $ 0.08078 $ 0.08275 $ 0.09062 TOU-GS-2-B Energy Summer OFF-PEAK $ 0.07727 $ 0.07917 $ 0.08675 TOU-GS-2-B Energy Winter MID-PEAK $ 0.10848 $ 0.11104 $ 0.12127 TOU-GS-2-B Energy Winter OFF-PEAK $ 0.05921 $ 0.06073 $ 0.06677 TOU-GS-2-B Demand Summer ON-PEAK $ 17.63 $ 18.00 $ 19.50 TOU-GS-2-B Demand Summer MID-PEAK $ 5.92 $ 6.05 $ 6.55
TOU-GS-2-D Energy Summer ON-PEAK $ 0.12501 $ 0.12792 $ 0.13955 TOU-GS-2-D Energy Summer MID-PEAK $ 0.11292 $ 0.11557 $ 0.12618 TOU-GS-2-D Energy Summer OFF-PEAK $ 0.06818 $ 0.06988 $ 0.07668 TOU-GS-2-D Energy Winter MID-PEAK $ 0.08050 $ 0.08247 $ 0.09032 TOU-GS-2-D Energy Winter OFF-PEAK $ 0.08106 $ 0.08304 $ 0.09094 TOU-GS-2-D Energy Winter SUPER-OFF-PEAK $ 0.03689 $ 0.03793 $ 0.04208 TOU-GS-2-D Demand Summer ON-PEAK $ 25.42 $ 25.96 $ 28.12 TOU-GS-2-D Demand Winter MID-PEAK $ 6.67 $ 6.81 $ 7.38
TOU-GS-2-E Energy Summer ON-PEAK $ 0.44814 $ 0.45791 $ 0.49701 TOU-GS-2-E Energy Summer MID-PEAK $ 0.11292 $ 0.11557 $ 0.12618 TOU-GS-2-E Energy Summer OFF-PEAK $ 0.06818 $ 0.06988 $ 0.07668 TOU-GS-2-E Energy Winter MID-PEAK $ 0.13173 $ 0.13478 $ 0.14698 TOU-GS-2-E Energy Winter OFF-PEAK $ 0.08106 $ 0.08304 $ 0.09094 TOU-GS-2-E Energy Winter SUPER-OFF-PEAK $ 0.03689 $ 0.03793 $ 0.04208 TOU-GS-2-E Demand Summer ON-PEAK $ 7.15 $ 7.30 $ 7.91
TOU-GS-2-E Demand Winter MID-PEAK $ 2.77 $ 2.82 $ 3.06
TOU-GS-2-PRI-B Energy Summer ON-PEAK $ 0.08603 $ 0.08811 $ 0.09644 TOU-GS-2-PRI-B Energy Summer MID-PEAK $ 0.07964 $ 0.08158 $ 0.08936 TOU-GS-2-PRI-B Energy Summer OFF-PEAK $ 0.07613 $ 0.07800 $ 0.08548 TOU-GS-2-PRI-B Energy Winter MID-PEAK $ 0.10734 $ 0.10987 $ 0.12001 TOU-GS-2-PRI-B Energy Winter OFF-PEAK $ 0.05807 $ 0.05956 $ 0.06551 TOU-GS-2-PRI-B Demand Summer ON-PEAK $ 16.93 $ 17.29 $ 18.72 TOU-GS-2-PRI-B Demand Summer MID-PEAK $ 5.22 $ 5.33 $ 5.77 TOU-GS-2-PRI-D Energy Summer ON-PEAK $ 0.12387 $ 0.12675 $ 0.13829 TOU-GS-2-PRI-D Energy Summer MID-PEAK $ 0.11178 $ 0.11441 $ 0.12492 TOU-GS-2-PRI-D Energy Summer OFF-PEAK $ 0.06704 $ 0.06871 $ 0.07542 TOU-GS-2-PRI-D Energy Winter MID-PEAK $ 0.07936 $ 0.08130 $ 0.08906 TOU-GS-2-PRI-D Energy Winter OFF-PEAK $ 0.07992 $ 0.08187 $ 0.08968 TOU-GS-2-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.03575 $ 0.03676 $ 0.04081 TOU-GS-2-PRI-D Demand Summer ON-PEAK $ 24.84 $ 25.37 $ 27.48 TOU-GS-2-PRI-D Demand Winter MID-PEAK $ 6.52 $ 6.66 $ 7.21 TOU-GS-2-PRI-E Energy Summer ON-PEAK $ 0.44645 $ 0.45619 $ 0.49513 TOU-GS-2-PRI-E Energy Summer MID-PEAK $ 0.11123 $ 0.11384 $ 0.12431 TOU-GS-2-PRI-E Energy Summer OFF-PEAK $ 0.06648 $ 0.06815 $ 0.07481 TOU-GS-2-PRI-E Energy Winter MID-PEAK $ 0.13004 $ 0.13305 $ 0.14511 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 111
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-2-PRI-E Energy Winter OFF-PEAK $ 0.07937 $ 0.08131 $ 0.08907 TOU-GS-2-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.03520 $ 0.03620 $ 0.04020 TOU-GS-2-PRI-E Demand Summer ON-PEAK $ 6.91 $ 7.06 $ 7.64 TOU-GS-2-PRI-E Demand Winter MID-PEAK $ 2.70 $ 2.76 $ 2.99 TOU-GS-2-PRI-R Energy Summer ON-PEAK $ 0.31709 $ 0.32407 $ 0.35203 TOU-GS-2-PRI-R Energy Summer MID-PEAK $ 0.14290 $ 0.14619 $ 0.15935 TOU-GS-2-PRI-R Energy Summer OFF-PEAK $ 0.07440 $ 0.07623 $ 0.08357 TOU-GS-2-PRI-R Energy Winter MID-PEAK $ 0.10561 $ 0.10811 $ 0.11810 TOU-GS-2-PRI-R Energy Winter OFF-PEAK $ 0.05634 $ 0.05779 $ 0.06360 TOU-GS-2-R Energy Summer ON-PEAK $ 0.31996 $ 0.32701 $ 0.35521 TOU-GS-2-R Energy Summer MID-PEAK $ 0.14577 $ 0.14912 $ 0.16252 TOU-GS-2-R Energy Summer OFF-PEAK $ 0.07727 $ 0.07917 $ 0.08675 TOU-GS-2-R Energy Winter MID-PEAK $ 0.10848 $ 0.11104 $ 0.12127 TOU-GS-2-R Energy Winter OFF-PEAK $ 0.05921 $ 0.06073 $ 0.06677 TOU-GS-2-SUB-B Energy Summer ON-PEAK $ 0.08468 $ 0.08674 $ 0.09495 TOU-GS-2-SUB-B Energy Summer MID-PEAK $ 0.07829 $ 0.08020 $ 0.08787 TOU-GS-2-SUB-B Energy Summer OFF-PEAK $ 0.07478 $ 0.07662 $ 0.08399 TOU-GS-2-SUB-B Energy Winter MID-PEAK $ 0.10599 $ 0.10850 $ 0.11852 TOU-GS-2-SUB-B Energy Winter OFF-PEAK $ 0.05672 $ 0.05818 $ 0.06402 TOU-GS-2-SUB-B Demand Summer ON-PEAK $ 15.99 $ 16.33 $ 17.69 TOU-GS-2-SUB-B Demand Summer MID-PEAK $ 4.29 $ 4.38 $ 4.74 TOU-GS-2-SUB-D Energy Summer ON-PEAK $ 0.12252 $ 0.12537 $ 0.13680 TOU-GS-2-SUB-D Energy Summer MID-PEAK $ 0.11043 $ 0.11303 $ 0.12343 TOU-GS-2-SUB-D Energy Summer OFF-PEAK $ 0.06569 $ 0.06733 $ 0.07393 TOU-GS-2-SUB-D Energy Winter MID-PEAK $ 0.07801 $ 0.07992 $ 0.08757 TOU-GS-2-SUB-D Energy Winter OFF-PEAK $ 0.07857 $ 0.08050 $ 0.08819 TOU-GS-2-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.03440 $ 0.03538 $ 0.03932 TOU-GS-2-SUB-D Demand Summer ON-PEAK $ 24.08 $ 24.59 $ 26.64 TOU-GS-2-SUB-D Demand Winter MID-PEAK $ 6.32 $ 6.45 $ 6.99 TOU-GS-3-B Energy Summer ON-PEAK $ 0.08410 $ 0.08613 $ 0.09432 TOU-GS-3-B Energy Summer MID-PEAK $ 0.07776 $ 0.07966 $ 0.08730 TOU-GS-3-B Energy Summer OFF-PEAK $ 0.07453 $ 0.07636 $ 0.08373 TOU-GS-3-B Energy Winter MID-PEAK $ 0.13198 $ 0.13508 $ 0.14745 TOU-GS-3-B Energy Winter OFF-PEAK $ 0.07206 $ 0.07386 $ 0.08107 TOU-GS-3-B Demand Summer ON-PEAK $ 14.80 $ 15.11 $ 16.38 TOU-GS-3-B Demand Summer MID-PEAK $ 4.94 $ 5.05 $ 5.47
TOU-GS-3-D Energy Summer ON-PEAK $ 0.11701 $ 0.11975 $ 0.13075 TOU-GS-3-D Energy Summer MID-PEAK $ 0.10569 $ 0.10818 $ 0.11821 TOU-GS-3-D Energy Summer OFF-PEAK $ 0.06761 $ 0.06930 $ 0.07607 TOU-GS-3-D Energy Winter MID-PEAK $ 0.09645 $ 0.09879 $ 0.10809 TOU-GS-3-D Energy Winter OFF-PEAK $ 0.09711 $ 0.09946 $ 0.10883 TOU-GS-3-D Energy Winter SUPER-OFF-PEAK $ 0.04551 $ 0.04675 $ 0.05166 TOU-GS-3-D Demand Summer ON-PEAK $ 22.09 $ 22.56 $ 24.45 TOU-GS-3-D Demand Winter MID-PEAK $ 9.45 $ 9.65 $ 10.47 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 112
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-3-E Energy Summer ON-PEAK $ 0.36828 $ 0.37636 $ 0.40885 TOU-GS-3-E Energy Summer MID-PEAK $ 0.10569 $ 0.10818 $ 0.11821 TOU-GS-3-E Energy Summer OFF-PEAK $ 0.06761 $ 0.06930 $ 0.07607 TOU-GS-3-E Energy Winter MID-PEAK $ 0.16232 $ 0.16608 $ 0.18106 TOU-GS-3-E Energy Winter OFF-PEAK $ 0.09711 $ 0.09946 $ 0.10883 TOU-GS-3-E Energy Winter SUPER-OFF-PEAK $ 0.04551 $ 0.04675 $ 0.05166 TOU-GS-3-E Demand Summer ON-PEAK $ 6.21 $ 6.34 $ 6.88
TOU-GS-3-E Demand Winter MID-PEAK $ 3.91 $ 4.00 $ 4.33
TOU-GS-3-PRI-B Energy Summer ON-PEAK $ 0.08294 $ 0.08495 $ 0.09304 TOU-GS-3-PRI-B Energy Summer MID-PEAK $ 0.07660 $ 0.07848 $ 0.08602 TOU-GS-3-PRI-B Energy Summer OFF-PEAK $ 0.07337 $ 0.07518 $ 0.08245 TOU-GS-3-PRI-B Energy Winter MID-PEAK $ 0.13062 $ 0.13369 $ 0.14594 TOU-GS-3-PRI-B Energy Winter OFF-PEAK $ 0.07069 $ 0.07247 $ 0.07956 TOU-GS-3-PRI-B Demand Summer ON-PEAK $ 14.18 $ 14.49 $ 15.70 TOU-GS-3-PRI-B Demand Summer MID-PEAK $ 4.33 $ 4.42 $ 4.79 TOU-GS-3-PRI-D Energy Summer ON-PEAK $ 0.11586 $ 0.11857 $ 0.12947 TOU-GS-3-PRI-D Energy Summer MID-PEAK $ 0.10453 $ 0.10700 $ 0.11693 TOU-GS-3-PRI-D Energy Summer OFF-PEAK $ 0.06646 $ 0.06812 $ 0.07479 TOU-GS-3-PRI-D Energy Winter MID-PEAK $ 0.09509 $ 0.09740 $ 0.10658 TOU-GS-3-PRI-D Energy Winter OFF-PEAK $ 0.09575 $ 0.09807 $ 0.10731 TOU-GS-3-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.04415 $ 0.04535 $ 0.05015 TOU-GS-3-PRI-D Demand Summer ON-PEAK $ 21.58 $ 22.04 $ 23.88 TOU-GS-3-PRI-D Demand Winter MID-PEAK $ 9.22 $ 9.42 $ 10.21 TOU-GS-3-PRI-E Energy Summer ON-PEAK $ 0.36617 $ 0.37421 $ 0.40652 TOU-GS-3-PRI-E Energy Summer MID-PEAK $ 0.10358 $ 0.10603 $ 0.11588 TOU-GS-3-PRI-E Energy Summer OFF-PEAK $ 0.06551 $ 0.06715 $ 0.07374 TOU-GS-3-PRI-E Energy Winter MID-PEAK $ 0.15983 $ 0.16354 $ 0.17830 TOU-GS-3-PRI-E Energy Winter OFF-PEAK $ 0.09462 $ 0.09692 $ 0.10607 TOU-GS-3-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.04302 $ 0.04420 $ 0.04891 TOU-GS-3-PRI-E Demand Summer ON-PEAK $ 6.00 $ 6.13 $ 6.64 TOU-GS-3-PRI-E Demand Winter MID-PEAK $ 3.82 $ 3.90 $ 4.23 TOU-GS-3-PRI-R Energy Summer ON-PEAK $ 0.26386 $ 0.26972 $ 0.29328 TOU-GS-3-PRI-R Energy Summer MID-PEAK $ 0.12298 $ 0.12584 $ 0.13735 TOU-GS-3-PRI-R Energy Summer OFF-PEAK $ 0.07207 $ 0.07384 $ 0.08100 TOU-GS-3-PRI-R Energy Winter MID-PEAK $ 0.12907 $ 0.13211 $ 0.14423 TOU-GS-3-PRI-R Energy Winter OFF-PEAK $ 0.06915 $ 0.07089 $ 0.07785 TOU-GS-3-R Energy Summer ON-PEAK $ 0.26632 $ 0.27223 $ 0.29601 TOU-GS-3-R Energy Summer MID-PEAK $ 0.12544 $ 0.12835 $ 0.14007 TOU-GS-3-R Energy Summer OFF-PEAK $ 0.07453 $ 0.07636 $ 0.08373 TOU-GS-3-R Energy Winter MID-PEAK $ 0.13198 $ 0.13508 $ 0.14745 TOU-GS-3-R Energy Winter OFF-PEAK $ 0.07206 $ 0.07386 $ 0.08107 TOU-GS-3-SUB-D Energy Summer ON-PEAK $ 0.11450 $ 0.11719 $ 0.12797 TOU-GS-3-SUB-D Energy Summer MID-PEAK $ 0.10318 $ 0.10562 $ 0.11543 TOU-GS-3-SUB-D Energy Summer OFF-PEAK $ 0.06510 $ 0.06673 $ 0.07329 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 113
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-3-SUB-D Energy Winter MID-PEAK $ 0.09349 $ 0.09576 $ 0.10481 TOU-GS-3-SUB-D Energy Winter OFF-PEAK $ 0.09415 $ 0.09643 $ 0.10554 TOU-GS-3-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.04254 $ 0.04371 $ 0.04838 TOU-GS-3-SUB-D Demand Summer ON-PEAK $ 20.91 $ 21.35 $ 23.14 TOU-GS-3-SUB-D Demand Winter MID-PEAK $ 8.94 $ 9.13 $ 9.90 TOU-8-PRI-B Energy Summer ON-PEAK $ 0.07858 $ 0.08050 $ 0.08817 TOU-8-PRI-B Energy Summer MID-PEAK $ 0.07197 $ 0.07374 $ 0.08085 TOU-8-PRI-B Energy Summer OFF-PEAK $ 0.06961 $ 0.07133 $ 0.07824 TOU-8-PRI-B Energy Winter MID-PEAK $ 0.13054 $ 0.13363 $ 0.14582 TOU-8-PRI-B Energy Winter OFF-PEAK $ 0.07157 $ 0.07338 $ 0.08049 TOU-8-PRI-B Demand Summer ON-PEAK $ 15.38 $ 15.70 $ 17.02 TOU-8-PRI-B Demand Summer MID-PEAK $ 4.94 $ 5.05 $ 5.47 TOU-8-PRI-D Energy Summer ON-PEAK $ 0.10882 $ 0.11138 $ 0.12165 TOU-8-PRI-D Energy Summer MID-PEAK $ 0.09848 $ 0.10082 $ 0.11020 TOU-8-PRI-D Energy Summer OFF-PEAK $ 0.06301 $ 0.06459 $ 0.07093 TOU-8-PRI-D Energy Winter MID-PEAK $ 0.09142 $ 0.09366 $ 0.10247 TOU-8-PRI-D Energy Winter OFF-PEAK $ 0.09226 $ 0.09452 $ 0.10341 TOU-8-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.04316 $ 0.04434 $ 0.04901 TOU-8-PRI-D Demand Summer ON-PEAK $ 21.84 $ 22.30 $ 24.17 TOU-8-PRI-D Demand Winter MID-PEAK $ 9.78 $ 9.99 $ 10.83 TOU-8-PRI-E Energy Summer ON-PEAK $ 0.32935 $ 0.33661 $ 0.36576 TOU-8-PRI-E Energy Summer MID-PEAK $ 0.09848 $ 0.10082 $ 0.11020 TOU-8-PRI-E Energy Summer OFF-PEAK $ 0.06301 $ 0.06459 $ 0.07093 TOU-8-PRI-E Energy Winter MID-PEAK $ 0.17621 $ 0.18030 $ 0.19642 TOU-8-PRI-E Energy Winter OFF-PEAK $ 0.09226 $ 0.09452 $ 0.10341 TOU-8-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.04316 $ 0.04434 $ 0.04901 TOU-8-PRI-E Demand Summer ON-PEAK $ 5.36 $ 5.47 $ 5.93
TOU-8-PRI-E Demand Winter MID-PEAK $ 1.11 $ 1.14 $ 1.23 TOU-8-PRI-R Energy Summer ON-PEAK $ 0.25250 $ 0.25813 $ 0.28070 TOU-8-PRI-R Energy Summer MID-PEAK $ 0.11136 $ 0.11397 $ 0.12446 TOU-8-PRI-R Energy Summer OFF-PEAK $ 0.06961 $ 0.07133 $ 0.07824 TOU-8-PRI-R Energy Winter MID-PEAK $ 0.13054 $ 0.13363 $ 0.14582 TOU-8-PRI-R Energy Winter OFF-PEAK $ 0.07157 $ 0.07338 $ 0.08049 TOU-8-SEC-B Energy Summer ON-PEAK $ 0.08201 $ 0.08400 $ 0.09199 TOU-8-SEC-B Energy Summer MID-PEAK $ 0.07553 $ 0.07738 $ 0.08482 TOU-8-SEC-B Energy Summer OFF-PEAK $ 0.07268 $ 0.07447 $ 0.08166 TOU-8-SEC-B Energy Winter MID-PEAK $ 0.12496 $ 0.12794 $ 0.13966 TOU-8-SEC-B Energy Winter OFF-PEAK $ 0.07273 $ 0.07457 $ 0.08180 TOU-8-SEC-B Demand Summer ON-PEAK $ 15.63 $ 15.97 $ 17.31 TOU-8-SEC-B Demand Summer MID-PEAK $ 5.13 $ 5.24 $ 5.68 TOU-8-SEC-D Energy Summer ON-PEAK $ 0.11390 $ 0.11657 $ 0.12729 TOU-8-SEC-D Energy Summer MID-PEAK $ 0.10286 $ 0.10530 $ 0.11508 TOU-8-SEC-D Energy Summer OFF-PEAK $ 0.06606 $ 0.06771 $ 0.07433 TOU-8-SEC-D Energy Winter MID-PEAK $ 0.09548 $ 0.09781 $ 0.10700 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 114
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-8-SEC-D Energy Winter OFF-PEAK $ 0.09614 $ 0.09848 $ 0.10773 TOU-8-SEC-D Energy Winter SUPER-OFF-PEAK $ 0.04509 $ 0.04632 $ 0.05117 TOU-8-SEC-D Demand Summer ON-PEAK $ 22.70 $ 23.19 $ 25.13 TOU-8-SEC-D Demand Winter MID-PEAK $ 8.32 $ 8.50 $ 9.22 TOU-8-SEC-E Energy Summer ON-PEAK $ 0.34682 $ 0.35446 $ 0.38513 TOU-8-SEC-E Energy Summer MID-PEAK $ 0.10286 $ 0.10530 $ 0.11508 TOU-8-SEC-E Energy Summer OFF-PEAK $ 0.06606 $ 0.06771 $ 0.07433 TOU-8-SEC-E Energy Winter MID-PEAK $ 0.14937 $ 0.15287 $ 0.16670 TOU-8-SEC-E Energy Winter OFF-PEAK $ 0.09614 $ 0.09848 $ 0.10773 TOU-8-SEC-E Energy Winter SUPER-OFF-PEAK $ 0.04509 $ 0.04632 $ 0.05117 TOU-8-SEC-E Demand Summer ON-PEAK $ 6.39 $ 6.52 $ 7.07
TOU-8-SEC-E Demand Winter MID-PEAK $ 3.44 $ 3.52 $ 3.82 TOU-8-SEC-R Energy Summer ON-PEAK $ 0.26154 $ 0.26736 $ 0.29073 TOU-8-SEC-R Energy Summer MID-PEAK $ 0.11924 $ 0.12202 $ 0.13320 TOU-8-SEC-R Energy Summer OFF-PEAK $ 0.07268 $ 0.07447 $ 0.08166 TOU-8-SEC-R Energy Winter MID-PEAK $ 0.12496 $ 0.12794 $ 0.13966 TOU-8-SEC-R Energy Winter OFF-PEAK $ 0.07273 $ 0.07457 $ 0.08180 TOU-8-SUB-B Energy Summer ON-PEAK $ 0.07353 $ 0.07532 $ 0.08251 TOU-8-SUB-B Energy Summer MID-PEAK $ 0.06708 $ 0.06873 $ 0.07537 TOU-8-SUB-B Energy Summer OFF-PEAK $ 0.06513 $ 0.06674 $ 0.07321 TOU-8-SUB-B Energy Winter MID-PEAK $ 0.12037 $ 0.12322 $ 0.13448 TOU-8-SUB-B Energy Winter OFF-PEAK $ 0.06791 $ 0.06962 $ 0.07636 TOU-8-SUB-B Demand Summer ON-PEAK $ 17.57 $ 17.95 $ 19.45 TOU-8-SUB-B Demand Summer MID-PEAK $ 5.69 $ 5.81 $ 6.30 TOU-8-SUB-D Energy Summer ON-PEAK $ 0.10206 $ 0.10446 $ 0.11409 TOU-8-SUB-D Energy Summer MID-PEAK $ 0.09267 $ 0.09487 $ 0.10370 TOU-8-SUB-D Energy Summer OFF-PEAK $ 0.05889 $ 0.06036 $ 0.06630 TOU-8-SUB-D Energy Winter MID-PEAK $ 0.08552 $ 0.08761 $ 0.09587 TOU-8-SUB-D Energy Winter OFF-PEAK $ 0.08669 $ 0.08881 $ 0.09717 TOU-8-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.04048 $ 0.04159 $ 0.04598 TOU-8-SUB-D Demand Summer ON-PEAK $ 24.12 $ 24.63 $ 26.70 TOU-8-SUB-D Demand Winter MID-PEAK $ 9.33 $ 9.54 $ 10.34 TOU-8-SUB-E Energy Summer ON-PEAK $ 0.36398 $ 0.37196 $ 0.40403 TOU-8-SUB-E Energy Summer MID-PEAK $ 0.09267 $ 0.09487 $ 0.10370 TOU-8-SUB-E Energy Summer OFF-PEAK $ 0.05889 $ 0.06036 $ 0.06630 TOU-8-SUB-E Energy Winter MID-PEAK $ 0.15398 $ 0.15757 $ 0.17172 TOU-8-SUB-E Energy Winter OFF-PEAK $ 0.08669 $ 0.08881 $ 0.09717 TOU-8-SUB-E Energy Winter SUPER-OFF-PEAK $ 0.04048 $ 0.04159 $ 0.04598 TOU-8-SUB-E Demand Summer ON-PEAK $ 2.29 $ 2.34 $ 2.54
TOU-8-SUB-E Demand Winter MID-PEAK $ 1.33 $ 1.36 $ 1.47 TOU-8-SUB-R Energy Summer ON-PEAK $ 0.25116 $ 0.25675 $ 0.27915 TOU-8-SUB-R Energy Summer MID-PEAK $ 0.10612 $ 0.10860 $ 0.11859 TOU-8-SUB-R Energy Summer OFF-PEAK $ 0.06513 $ 0.06674 $ 0.07321 TOU-8-SUB-R Energy Winter MID-PEAK $ 0.12037 $ 0.12322 $ 0.13448 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 115
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-8-SUB-R Energy Winter OFF-PEAK $ 0.06791 $ 0.06962 $ 0.07636 TOU-EV-7 Energy Summer ON-PEAK $ 0.38725 $ 0.39544 $ 0.42820 TOU-EV-7 Energy Summer MID-PEAK $ 0.13012 $ 0.13303 $ 0.14465 TOU-EV-7 Energy Summer OFF-PEAK $ 0.10488 $ 0.10727 $ 0.11682 TOU-EV-7 Energy Winter MID-PEAK $ 0.20337 $ 0.20778 $ 0.22542 TOU-EV-7 Energy Winter OFF-PEAK $ 0.12541 $ 0.12822 $ 0.13946 TOU-EV-7 Energy Winter SUPER-OFF-PEAK $ 0.05124 $ 0.05252 $ 0.05767 TOU-EV-8 Energy Summer ON-PEAK $ 0.42788 $ 0.43722 $ 0.47459 TOU-EV-8 Energy Summer MID-PEAK $ 0.11292 $ 0.11557 $ 0.12618 TOU-EV-8 Energy Summer OFF-PEAK $ 0.08466 $ 0.08671 $ 0.09491 TOU-EV-8 Energy Winter MID-PEAK $ 0.16792 $ 0.17174 $ 0.18702 TOU-EV-8 Energy Winter OFF-PEAK $ 0.10159 $ 0.10400 $ 0.11365 TOU-EV-8 Energy Winter SUPER-OFF-PEAK $ 0.03689 $ 0.03793 $ 0.04208 TOU-EV-PRI-9 Energy Summer ON-PEAK $ 0.29977 $ 0.30547 $ 0.32829 TOU-EV-PRI-9 Energy Summer MID-PEAK $ 0.09910 $ 0.10112 $ 0.10921 TOU-EV-PRI-9 Energy Summer OFF-PEAK $ 0.07326 $ 0.07481 $ 0.08100 TOU-EV-PRI-9 Energy Winter MID-PEAK $ 0.15554 $ 0.15860 $ 0.17083 TOU-EV-PRI-9 Energy Winter OFF-PEAK $ 0.08543 $ 0.08720 $ 0.09429 TOU-EV-PRI-9 Energy Winter SUPER-OFF-PEAK $ 0.03453 $ 0.03536 $ 0.03871 TOU-EV-SEC-9 Energy Summer ON-PEAK $ 0.32696 $ 0.33344 $ 0.35936 TOU-EV-SEC-9 Energy Summer MID-PEAK $ 0.10333 $ 0.10552 $ 0.11431 TOU-EV-SEC-9 Energy Summer OFF-PEAK $ 0.07772 $ 0.07943 $ 0.08625 TOU-EV-SEC-9 Energy Winter MID-PEAK $ 0.15553 $ 0.15872 $ 0.17151 TOU-EV-SEC-9 Energy Winter OFF-PEAK $ 0.09089 $ 0.09285 $ 0.10068 TOU-EV-SEC-9 Energy Winter SUPER-OFF-PEAK $ 0.03604 $ 0.03694 $ 0.04057 TOU-EV-SUB-9 Energy Summer ON-PEAK $ 0.29479 $ 0.29927 $ 0.31720 TOU-EV-SUB-9 Energy Summer MID-PEAK $ 0.09399 $ 0.09552 $ 0.10165 TOU-EV-SUB-9 Energy Summer OFF-PEAK $ 0.06874 $ 0.06991 $ 0.07456 TOU-EV-SUB-9 Energy Winter MID-PEAK $ 0.13839 $ 0.14057 $ 0.14931 TOU-EV-SUB-9 Energy Winter OFF-PEAK $ 0.07971 $ 0.08103 $ 0.08632 TOU-EV-SUB-9 Energy Winter SUPER-OFF-PEAK $ 0.03268 $ 0.03331 $ 0.03584 TOU-PA-2-A Energy Summer ON-PEAK $ 0.24160 $ 0.24717 $ 0.26876 TOU-PA-2-A Energy Summer MID-PEAK $ 0.10403 $ 0.10657 $ 0.11643 TOU-PA-2-A Energy Summer OFF-PEAK $ 0.06672 $ 0.06844 $ 0.07512 TOU-PA-2-A Energy Winter MID-PEAK $ 0.13171 $ 0.13489 $ 0.14710 TOU-PA-2-A Energy Winter OFF-PEAK $ 0.08311 $ 0.08521 $ 0.09328 TOU-PA-2-B Energy Summer ON-PEAK $ 0.07543 $ 0.07734 $ 0.08477 TOU-PA-2-B Energy Summer MID-PEAK $ 0.06883 $ 0.07060 $ 0.07746 TOU-PA-2-B Energy Summer OFF-PEAK $ 0.06672 $ 0.06844 $ 0.07512 TOU-PA-2-B Energy Winter MID-PEAK $ 0.13171 $ 0.13489 $ 0.14710 TOU-PA-2-B Energy Winter OFF-PEAK $ 0.08311 $ 0.08521 $ 0.09328 TOU-PA-2-B Demand Summer ON-PEAK $ 8.57 $ 8.76 $ 9.49
TOU-PA-2-B Demand Summer MID-PEAK $ 2.63 $ 2.69 $ 2.91
TOU-PA-2-D Energy Summer ON-PEAK $ 0.10766 $ 0.11028 $ 0.12046 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 116
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-2-D Energy Summer MID-PEAK $ 0.09712 $ 0.09951 $ 0.10879 TOU-PA-2-D Energy Summer OFF-PEAK $ 0.06032 $ 0.06190 $ 0.06804 TOU-PA-2-D Energy Winter MID-PEAK $ 0.11332 $ 0.11610 $ 0.12674 TOU-PA-2-D Energy Winter OFF-PEAK $ 0.08779 $ 0.09000 $ 0.09847 TOU-PA-2-D Energy Winter SUPER-OFF-PEAK $ 0.07327 $ 0.07516 $ 0.08239 TOU-PA-2-D Demand Summer ON-PEAK $ 12.09 $ 12.36 $ 13.39 TOU-PA-2-D Demand Winter MID-PEAK $ 3.65 $ 3.73 $ 4.04
TOU-PA-2-D5 Energy Summer ON-PEAK $ 0.22603 $ 0.23125 $ 0.25152 TOU-PA-2-D5 Energy Summer MID-PEAK $ 0.21254 $ 0.21747 $ 0.23659 TOU-PA-2-D5 Energy Summer OFF-PEAK $ 0.05580 $ 0.05728 $ 0.06304 TOU-PA-2-D5 Energy Winter MID-PEAK $ 0.12115 $ 0.12410 $ 0.13541 TOU-PA-2-D5 Energy Winter OFF-PEAK $ 0.09403 $ 0.09637 $ 0.10537 TOU-PA-2-D5 Energy Winter SUPER-OFF-PEAK $ 0.07858 $ 0.08058 $ 0.08827 TOU-PA-2-D5 Demand Summer ON-PEAK $ 11.57 $ 11.82 $ 12.81 TOU-PA-2-D5 Demand Winter MID-PEAK $ 2.45 $ 2.51 $ 2.72 TOU-PA-2-E Energy Summer ON-PEAK $ 0.39010 $ 0.39892 $ 0.43318 TOU-PA-2-E Energy Summer MID-PEAK $ 0.09712 $ 0.09951 $ 0.10879 TOU-PA-2-E Energy Summer OFF-PEAK $ 0.06032 $ 0.06190 $ 0.06804 TOU-PA-2-E Energy Winter MID-PEAK $ 0.13303 $ 0.13624 $ 0.14856 TOU-PA-2-E Energy Winter OFF-PEAK $ 0.10347 $ 0.10603 $ 0.11583 TOU-PA-2-E Energy Winter SUPER-OFF-PEAK $ 0.08665 $ 0.08883 $ 0.09721 TOU-PA-2-E5 Energy Summer ON-PEAK $ 0.65669 $ 0.67138 $ 0.72836 TOU-PA-2-E5 Energy Summer MID-PEAK $ 0.21254 $ 0.21747 $ 0.23659 TOU-PA-2-E5 Energy Summer OFF-PEAK $ 0.05580 $ 0.05728 $ 0.06304 TOU-PA-2-E5 Energy Winter MID-PEAK $ 0.13369 $ 0.13691 $ 0.14929 TOU-PA-2-E5 Energy Winter OFF-PEAK $ 0.10400 $ 0.10657 $ 0.11642 TOU-PA-2-E5 Energy Winter SUPER-OFF-PEAK $ 0.08710 $ 0.08929 $ 0.09770 TOU-PA-2-PRI-A Energy Summer ON-PEAK $ 0.23997 $ 0.24550 $ 0.26696 TOU-PA-2-PRI-A Energy Summer MID-PEAK $ 0.10240 $ 0.10491 $ 0.11463 TOU-PA-2-PRI-A Energy Summer OFF-PEAK $ 0.06509 $ 0.06678 $ 0.07332 TOU-PA-2-PRI-A Energy Winter MID-PEAK $ 0.12953 $ 0.13267 $ 0.14469 TOU-PA-2-PRI-A Energy Winter OFF-PEAK $ 0.08093 $ 0.08299 $ 0.09087 TOU-PA-2-PRI-B Energy Summer ON-PEAK $ 0.07443 $ 0.07632 $ 0.08366 TOU-PA-2-PRI-B Energy Summer MID-PEAK $ 0.06783 $ 0.06957 $ 0.07635 TOU-PA-2-PRI-B Energy Summer OFF-PEAK $ 0.06571 $ 0.06742 $ 0.07401 TOU-PA-2-PRI-B Energy Winter MID-PEAK $ 0.13037 $ 0.13352 $ 0.14561 TOU-PA-2-PRI-B Energy Winter OFF-PEAK $ 0.08177 $ 0.08384 $ 0.09180 TOU-PA-2-PRI-B Demand Summer ON-PEAK $ 8.38 $ 8.57 $ 9.28 TOU-PA-2-PRI-B Demand Summer MID-PEAK $ 2.44 $ 2.49 $ 2.70 TOU-PA-2-PRI-D Energy Summer ON-PEAK $ 0.10666 $ 0.10926 $ 0.11935 TOU-PA-2-PRI-D Energy Summer MID-PEAK $ 0.09612 $ 0.09849 $ 0.10768 TOU-PA-2-PRI-D Energy Summer OFF-PEAK $ 0.05932 $ 0.06088 $ 0.06693 TOU-PA-2-PRI-D Energy Winter MID-PEAK $ 0.11198 $ 0.11473 $ 0.12526 TOU-PA-2-PRI-D Energy Winter OFF-PEAK $ 0.08645 $ 0.08863 $ 0.09699 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 117
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-2-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.07193 $ 0.07378 $ 0.08090 TOU-PA-2-PRI-D Demand Summer ON-PEAK $ 11.93 $ 12.19 $ 13.21 TOU-PA-2-PRI-D Demand Winter MID-PEAK $ 3.43 $ 3.51 $ 3.80 TOU-PA-2-PRI-D5 Energy Summer ON-PEAK $ 0.22497 $ 0.23017 $ 0.25035 TOU-PA-2-PRI-D5 Energy Summer MID-PEAK $ 0.21148 $ 0.21639 $ 0.23541 TOU-PA-2-PRI-D5 Energy Summer OFF-PEAK $ 0.05474 $ 0.05620 $ 0.06186 TOU-PA-2-PRI-D5 Energy Winter MID-PEAK $ 0.11973 $ 0.12265 $ 0.13384 TOU-PA-2-PRI-D5 Energy Winter OFF-PEAK $ 0.09261 $ 0.09492 $ 0.10380 TOU-PA-2-PRI-D5 Energy Winter SUPER-OFF-PEAK $ 0.07716 $ 0.07913 $ 0.08670 TOU-PA-2-PRI-D5 Demand Summer ON-PEAK $ 11.42 $ 11.67 $ 12.64 TOU-PA-2-PRI-D5 Demand Winter MID-PEAK $ 2.25 $ 2.30 $ 2.50 TOU-PA-2-PRI-E Energy Summer ON-PEAK $ 0.38847 $ 0.39726 $ 0.43138 TOU-PA-2-PRI-E Energy Summer MID-PEAK $ 0.09549 $ 0.09785 $ 0.10699 TOU-PA-2-PRI-E Energy Summer OFF-PEAK $ 0.05870 $ 0.06024 $ 0.06624 TOU-PA-2-PRI-E Energy Winter MID-PEAK $ 0.13085 $ 0.13401 $ 0.14615 TOU-PA-2-PRI-E Energy Winter OFF-PEAK $ 0.10130 $ 0.10380 $ 0.11342 TOU-PA-2-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.08447 $ 0.08661 $ 0.09479 TOU-PA-2-PRI-E5 Energy Summer ON-PEAK $ 0.65507 $ 0.66972 $ 0.72656 TOU-PA-2-PRI-E5 Energy Summer MID-PEAK $ 0.21092 $ 0.21581 $ 0.23478 TOU-PA-2-PRI-E5 Energy Summer OFF-PEAK $ 0.05417 $ 0.05562 $ 0.06124 TOU-PA-2-PRI-E5 Energy Winter MID-PEAK $ 0.13151 $ 0.13469 $ 0.14688 TOU-PA-2-PRI-E5 Energy Winter OFF-PEAK $ 0.10182 $ 0.10434 $ 0.11401 TOU-PA-2-PRI-E5 Energy Winter SUPER-OFF-PEAK $ 0.08492 $ 0.08707 $ 0.09529 TOU-PA-3-A Energy Summer ON-PEAK $ 0.20847 $ 0.21331 $ 0.23207 TOU-PA-3-A Energy Summer MID-PEAK $ 0.08773 $ 0.08991 $ 0.09837 TOU-PA-3-A Energy Summer OFF-PEAK $ 0.05657 $ 0.05807 $ 0.06388 TOU-PA-3-A Energy Winter MID-PEAK $ 0.11206 $ 0.11480 $ 0.12532 TOU-PA-3-A Energy Winter OFF-PEAK $ 0.07451 $ 0.07642 $ 0.08375 TOU-PA-3-B Energy Summer ON-PEAK $ 0.06415 $ 0.06581 $ 0.07226 TOU-PA-3-B Energy Summer MID-PEAK $ 0.05831 $ 0.05984 $ 0.06580 TOU-PA-3-B Energy Summer OFF-PEAK $ 0.05657 $ 0.05807 $ 0.06388 TOU-PA-3-B Energy Winter MID-PEAK $ 0.11206 $ 0.11480 $ 0.12532 TOU-PA-3-B Energy Winter OFF-PEAK $ 0.07451 $ 0.07642 $ 0.08375 TOU-PA-3-B Demand Summer ON-PEAK $ 9.07 $ 9.27 $ 10.05
TOU-PA-3-B Demand Summer MID-PEAK $ 2.65 $ 2.71 $ 2.94
TOU-PA-3-D Energy Summer ON-PEAK $ 0.09213 $ 0.09441 $ 0.10325 TOU-PA-3-D Energy Summer MID-PEAK $ 0.08303 $ 0.08510 $ 0.09317 TOU-PA-3-D Energy Summer OFF-PEAK $ 0.05111 $ 0.05249 $ 0.05783 TOU-PA-3-D Energy Winter MID-PEAK $ 0.09573 $ 0.09811 $ 0.10724 TOU-PA-3-D Energy Winter OFF-PEAK $ 0.09641 $ 0.09881 $ 0.10800 TOU-PA-3-D Energy Winter SUPER-OFF-PEAK $ 0.04523 $ 0.04649 $ 0.05132 TOU-PA-3-D Demand Summer ON-PEAK $ 12.89 $ 13.17 $ 14.27 TOU-PA-3-D Demand Winter MID-PEAK $ 3.73 $ 3.81 $ 4.13
TOU-PA-3-D5 Energy Summer ON-PEAK $ 0.17832 $ 0.18250 $ 0.19868 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 118
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-3-D5 Energy Summer MID-PEAK $ 0.16755 $ 0.17148 $ 0.18675 TOU-PA-3-D5 Energy Summer OFF-PEAK $ 0.05098 $ 0.05235 $ 0.05768 TOU-PA-3-D5 Energy Winter MID-PEAK $ 0.09913 $ 0.10158 $ 0.11101 TOU-PA-3-D5 Energy Winter OFF-PEAK $ 0.09983 $ 0.10230 $ 0.11179 TOU-PA-3-D5 Energy Winter SUPER-OFF-PEAK $ 0.04691 $ 0.04821 $ 0.05319 TOU-PA-3-D5 Demand Summer ON-PEAK $ 10.71 $ 10.95 $ 11.86 TOU-PA-3-D5 Demand Winter MID-PEAK $ 3.28 $ 3.35 $ 3.63 TOU-PA-3-E Energy Summer ON-PEAK $ 0.33198 $ 0.33953 $ 0.36882 TOU-PA-3-E Energy Summer MID-PEAK $ 0.08303 $ 0.08510 $ 0.09317 TOU-PA-3-E Energy Summer OFF-PEAK $ 0.05111 $ 0.05249 $ 0.05783 TOU-PA-3-E Energy Winter MID-PEAK $ 0.14169 $ 0.14509 $ 0.15814 TOU-PA-3-E Energy Winter OFF-PEAK $ 0.11052 $ 0.11323 $ 0.12362 TOU-PA-3-E Energy Winter SUPER-OFF-PEAK $ 0.03288 $ 0.03387 $ 0.03765 TOU-PA-3-E5 Energy Summer ON-PEAK $ 0.49167 $ 0.50272 $ 0.54563 TOU-PA-3-E5 Energy Summer MID-PEAK $ 0.16755 $ 0.17148 $ 0.18675 TOU-PA-3-E5 Energy Summer OFF-PEAK $ 0.05098 $ 0.05235 $ 0.05768 TOU-PA-3-E5 Energy Winter MID-PEAK $ 0.14869 $ 0.15225 $ 0.16589 TOU-PA-3-E5 Energy Winter OFF-PEAK $ 0.11610 $ 0.11894 $ 0.12980 TOU-PA-3-E5 Energy Winter SUPER-OFF-PEAK $ 0.03492 $ 0.03595 $ 0.03990 TOU-PA-3-PRI-A Energy Summer ON-PEAK $ 0.20693 $ 0.21173 $ 0.23036 TOU-PA-3-PRI-A Energy Summer MID-PEAK $ 0.08618 $ 0.08833 $ 0.09666 TOU-PA-3-PRI-A Energy Summer OFF-PEAK $ 0.05503 $ 0.05649 $ 0.06217 TOU-PA-3-PRI-A Energy Winter MID-PEAK $ 0.10999 $ 0.11269 $ 0.12303 TOU-PA-3-PRI-A Energy Winter OFF-PEAK $ 0.07244 $ 0.07431 $ 0.08146 TOU-PA-3-PRI-B Energy Summer ON-PEAK $ 0.06315 $ 0.06479 $ 0.07116 TOU-PA-3-PRI-B Energy Summer MID-PEAK $ 0.05731 $ 0.05883 $ 0.06470 TOU-PA-3-PRI-B Energy Summer OFF-PEAK $ 0.05558 $ 0.05706 $ 0.06278 TOU-PA-3-PRI-B Energy Winter MID-PEAK $ 0.11073 $ 0.11344 $ 0.12385 TOU-PA-3-PRI-B Energy Winter OFF-PEAK $ 0.07318 $ 0.07506 $ 0.08227 TOU-PA-3-PRI-B Demand Summer ON-PEAK $ 8.84 $ 9.03 $ 9.78 TOU-PA-3-PRI-B Demand Summer MID-PEAK $ 2.42 $ 2.47 $ 2.68 TOU-PA-3-PRI-D Energy Summer ON-PEAK $ 0.09114 $ 0.09339 $ 0.10215 TOU-PA-3-PRI-D Energy Summer MID-PEAK $ 0.08203 $ 0.08409 $ 0.09207 TOU-PA-3-PRI-D Energy Summer OFF-PEAK $ 0.05011 $ 0.05147 $ 0.05673 TOU-PA-3-PRI-D Energy Winter MID-PEAK $ 0.09440 $ 0.09675 $ 0.10577 TOU-PA-3-PRI-D Energy Winter OFF-PEAK $ 0.09508 $ 0.09745 $ 0.10653 TOU-PA-3-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.04390 $ 0.04513 $ 0.04985 TOU-PA-3-PRI-D Demand Summer ON-PEAK $ 12.69 $ 12.97 $ 14.05 TOU-PA-3-PRI-D Demand Winter MID-PEAK $ 3.46 $ 3.54 $ 3.84 TOU-PA-3-PRI-D5 Energy Summer ON-PEAK $ 0.17724 $ 0.18139 $ 0.19748 TOU-PA-3-PRI-D5 Energy Summer MID-PEAK $ 0.16646 $ 0.17038 $ 0.18555 TOU-PA-3-PRI-D5 Energy Summer OFF-PEAK $ 0.04989 $ 0.05124 $ 0.05648 TOU-PA-3-PRI-D5 Energy Winter MID-PEAK $ 0.09768 $ 0.10010 $ 0.10940 TOU-PA-3-PRI-D5 Energy Winter OFF-PEAK $ 0.09838 $ 0.10082 $ 0.11018 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 119
Exhibit A to Resolution 23-06-051
Phase 6 Rate Schedules Effective July 1, 2023
CPA CODE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-3-PRI-D5 Energy Winter SUPER-OFF-PEAK $ 0.04546 $ 0.04673 $ 0.05158 TOU-PA-3-PRI-D5 Demand Summer ON-PEAK $ 10.55 $ 10.78 $ 11.68 TOU-PA-3-PRI-D5 Demand Winter MID-PEAK $ 3.06 $ 3.12 $ 3.38 TOU-PA-3-PRI-E Energy Summer ON-PEAK $ 0.33044 $ 0.33795 $ 0.36711 TOU-PA-3-PRI-E Energy Summer MID-PEAK $ 0.08148 $ 0.08352 $ 0.09146 TOU-PA-3-PRI-E Energy Summer OFF-PEAK $ 0.04956 $ 0.05091 $ 0.05612 TOU-PA-3-PRI-E Energy Winter MID-PEAK $ 0.13962 $ 0.14298 $ 0.15585 TOU-PA-3-PRI-E Energy Winter OFF-PEAK $ 0.10845 $ 0.11111 $ 0.12133 TOU-PA-3-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.03081 $ 0.03175 $ 0.03536 TOU-PA-3-PRI-E5 Energy Summer ON-PEAK $ 0.49012 $ 0.50115 $ 0.54391 TOU-PA-3-PRI-E5 Energy Summer MID-PEAK $ 0.16600 $ 0.16990 $ 0.18504 TOU-PA-3-PRI-E5 Energy Summer OFF-PEAK $ 0.04943 $ 0.05077 $ 0.05597 TOU-PA-3-PRI-E5 Energy Winter MID-PEAK $ 0.14663 $ 0.15014 $ 0.16360 TOU-PA-3-PRI-E5 Energy Winter OFF-PEAK $ 0.11404 $ 0.11682 $ 0.12752 TOU-PA-3-PRI-E5 Energy Winter SUPER-OFF-PEAK $ 0.03285 $ 0.03383 $ 0.03761 AL-2-F Energy All_Year NONE $ 0.09652 $ 0.09893 $ 0.10853 AL-2-GF Energy Summer ON-PEAK $ 0.25970 $ 0.26558 $ 0.28901 AL-2-GF Energy Summer OFF-PEAK $ 0.09652 $ 0.09893 $ 0.10853 AL-2-GF Energy Winter ON-PEAK $ 0.16853 $ 0.17243 $ 0.18798 AL-2-GF Energy Winter OFF-PEAK $ 0.09652 $ 0.09893 $ 0.10853 DWL Energy All_Year NONE $ 0.06266 $ 0.06465 $ 0.07264
LS-1 Energy All_Year NONE $ 0.09633 $ 0.09873 $ 0.10832 LS-3 Energy All_Year NONE $ 0.09652 $ 0.09893 $ 0.10853 TC-1 Energy All_Year NONE $ 0.10055 $ 0.10365 $ 0.11605 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 120
Exhibit B to Resolution 23-06-051
Phase 6 CARE/FERA/Medical Baseline Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN - CARE
DEFAULT
100% GREEN -
CARE
DOMESTIC Energy All_Year NONE $ 0.13041 $ 0.13377 $ 0.14724 $ 0.13377 TOU-D-4 Energy Summer ON-PEAK $ 0.25416 $ 0.26038 $ 0.28523 $ 0.26038 TOU-D-4 Energy Summer MID-PEAK $ 0.15197 $ 0.15584 $ 0.17128 $ 0.15584 TOU-D-4 Energy Summer OFF-PEAK $ 0.09213 $ 0.09462 $ 0.10456 $ 0.09462 TOU-D-4 Energy Winter MID-PEAK $ 0.19008 $ 0.19482 $ 0.21377 $ 0.19482 TOU-D-4 Energy Winter OFF-PEAK $ 0.11537 $ 0.11839 $ 0.13047 $ 0.11839 TOU-D-4 Energy Winter SUPER-OFF-PEAK $ 0.09681 $ 0.09940 $ 0.10978 $ 0.09940 TOU-D-5 Energy Summer ON-PEAK $ 0.38703 $ 0.39630 $ 0.43338 $ 0.39630 TOU-D-5 Energy Summer MID-PEAK $ 0.21679 $ 0.22214 $ 0.24355 $ 0.22214 TOU-D-5 Energy Summer OFF-PEAK $ 0.08408 $ 0.08638 $ 0.09558 $ 0.08638 TOU-D-5 Energy Winter MID-PEAK $ 0.27016 $ 0.27674 $ 0.30306 $ 0.27674 TOU-D-5 Energy Winter OFF-PEAK $ 0.11433 $ 0.11733 $ 0.12932 $ 0.11733 TOU-D-5 Energy Winter SUPER-OFF-PEAK $ 0.08587 $ 0.08821 $ 0.09758 $ 0.08821 TOU-D-A Energy Summer ON-PEAK $ 0.32227 $ 0.33005 $ 0.36117 $ 0.33005 TOU-D-A Energy Summer OFF-PEAK $ 0.12533 $ 0.12858 $ 0.14158 $ 0.12858 TOU-D-A Energy Summer SUPER-OFF-PEAK $ 0.08358 $ 0.08587 $ 0.09502 $ 0.08587 TOU-D-A Energy Winter ON-PEAK $ 0.18497 $ 0.18959 $ 0.20808 $ 0.18959 TOU-D-A Energy Winter OFF-PEAK $ 0.09165 $ 0.09412 $ 0.10402 $ 0.09412 TOU-D-A Energy Winter SUPER-OFF-PEAK $ 0.08587 $ 0.08821 $ 0.09758 $ 0.08821 TOU-D-B Energy Summer ON-PEAK $ 0.49102 $ 0.50268 $ 0.54933 $ 0.50268 TOU-D-B Energy Summer OFF-PEAK $ 0.12527 $ 0.12852 $ 0.14151 $ 0.12852 TOU-D-B Energy Summer SUPER-OFF-PEAK $ 0.03880 $ 0.04006 $ 0.04509 $ 0.04006 TOU-D-B Energy Winter ON-PEAK $ 0.16730 $ 0.17151 $ 0.18837 $ 0.17151 TOU-D-B Energy Winter OFF-PEAK $ 0.09166 $ 0.09413 $ 0.10403 $ 0.09413 TOU-D-B Energy Winter SUPER-OFF-PEAK $ 0.04006 $ 0.04134 $ 0.04650 $ 0.04134 TOU-D-PRIME Energy Summer ON-PEAK $ 0.36331 $ 0.37204 $ 0.40693 $ 0.37204 TOU-D-PRIME Energy Summer MID-PEAK $ 0.11903 $ 0.12214 $ 0.13455 $ 0.12214 TOU-D-PRIME Energy Summer OFF-PEAK $ 0.07417 $ 0.07625 $ 0.08454 $ 0.07625 TOU-D-PRIME Energy Winter MID-PEAK $ 0.30354 $ 0.31089 $ 0.34028 $ 0.31089 TOU-D-PRIME Energy Winter OFF-PEAK $ 0.06059 $ 0.06235 $ 0.06939 $ 0.06235 TOU-D-PRIME Energy Winter SUPER-OFF-PEAK $ 0.06059 $ 0.06235 $ 0.06939 $ 0.06235 TOU-D-T Energy Summer ON-PEAK $ 0.16966 $ 0.17393 $ 0.19100 $ 0.17393 TOU-D-T Energy Summer OFF-PEAK $ 0.15279 $ 0.15667 $ 0.17219 $ 0.15667 TOU-D-T Energy Winter ON-PEAK $ 0.12381 $ 0.12702 $ 0.13988 $ 0.12702 TOU-D-T Energy Winter OFF-PEAK $ 0.11110 $ 0.11403 $ 0.12571 $ 0.11403 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 121
Exhibit B to Resolution 23-06-051
Phase 6 CARE/FERA/Medical Baseline Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN - CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-1-A Energy Summer ON-PEAK $ 0.17933 $ 0.18325 $ 0.19892 $ 0.18325 TOU-GS-1-A Energy Summer MID-PEAK $ 0.16700 $ 0.17066 $ 0.18532 $ 0.17066 TOU-GS-1-A Energy Summer OFF-PEAK $ 0.16026 $ 0.16378 $ 0.17789 $ 0.16378 TOU-GS-1-A Energy Winter MID-PEAK $ 0.11519 $ 0.11779 $ 0.12819 $ 0.11779 TOU-GS-1-A Energy Winter OFF-PEAK $ 0.10253 $ 0.10487 $ 0.11423 $ 0.10487 TOU-GS-1-B Energy Summer ON-PEAK $ 0.09262 $ 0.09475 $ 0.10330 $ 0.09475 TOU-GS-1-B Energy Summer MID-PEAK $ 0.08589 $ 0.08789 $ 0.09588 $ 0.08789 TOU-GS-1-B Energy Summer OFF-PEAK $ 0.08221 $ 0.08414 $ 0.09183 $ 0.08414 TOU-GS-1-B Energy Winter MID-PEAK $ 0.11519 $ 0.11779 $ 0.12819 $ 0.11779 TOU-GS-1-B Energy Winter OFF-PEAK $ 0.10253 $ 0.10487 $ 0.11423 $ 0.10487 TOU-GS-1-B Demand Summer ON-PEAK $ 14.74 $ 15.04 $ 16.25 $ 15.04 TOU-GS-1-B Demand Summer MID-PEAK $ 4.80 $ 4.89 $ 5.29 $ 4.89 TOU-GS-1-D Energy Summer ON-PEAK $ 0.13112 $ 0.13405 $ 0.14576 $ 0.13405 TOU-GS-1-D Energy Summer MID-PEAK $ 0.11729 $ 0.11993 $ 0.13051 $ 0.11993 TOU-GS-1-D Energy Summer OFF-PEAK $ 0.07295 $ 0.07469 $ 0.08162 $ 0.07469 TOU-GS-1-D Energy Winter MID-PEAK $ 0.12278 $ 0.12554 $ 0.13656 $ 0.12554 TOU-GS-1-D Energy Winter OFF-PEAK $ 0.08334 $ 0.08528 $ 0.09307 $ 0.08528 TOU-GS-1-D Energy Winter SUPER-OFF-PEAK $ 0.05948 $ 0.06093 $ 0.06676 $ 0.06093 TOU-GS-1-D Demand Summer ON-PEAK $ 20.08 $ 20.49 $ 22.14 $ 20.49 TOU-GS-1-D Demand Winter MID-PEAK $ 6.17 $ 6.29 $ 6.80 $ 6.29 TOU-GS-1-E Energy Summer ON-PEAK $ 0.52013 $ 0.53105 $ 0.57472 $ 0.53105 TOU-GS-1-E Energy Summer MID-PEAK $ 0.13012 $ 0.13303 $ 0.14465 $ 0.13303 TOU-GS-1-E Energy Summer OFF-PEAK $ 0.08977 $ 0.09185 $ 0.10016 $ 0.09185 TOU-GS-1-E Energy Winter MID-PEAK $ 0.20337 $ 0.20778 $ 0.22542 $ 0.20778 TOU-GS-1-E Energy Winter OFF-PEAK $ 0.10791 $ 0.11036 $ 0.12016 $ 0.11036 TOU-GS-1-E Energy Winter SUPER-OFF-PEAK $ 0.05124 $ 0.05252 $ 0.05767 $ 0.05252 TOU-GS-1-ES Energy Summer ON-PEAK $ 0.56278 $ 0.57458 $ 0.62176 $ 0.57458 TOU-GS-1-ES Energy Summer MID-PEAK $ 0.14164 $ 0.14479 $ 0.15736 $ 0.14479 TOU-GS-1-ES Energy Summer OFF-PEAK $ 0.09792 $ 0.10016 $ 0.10914 $ 0.10016 TOU-GS-1-ES Energy Winter MID-PEAK $ 0.18907 $ 0.19319 $ 0.20966 $ 0.19319 TOU-GS-1-ES Energy Winter OFF-PEAK $ 0.10009 $ 0.10238 $ 0.11153 $ 0.10238 TOU-GS-1-ES Energy Winter SUPER-OFF-PEAK $ 0.04700 $ 0.04820 $ 0.05300 $ 0.04820 TOU-GS-1-PRI-A Energy Summer ON-PEAK $ 0.17772 $ 0.18161 $ 0.19714 $ 0.18161 TOU-GS-1-PRI-A Energy Summer MID-PEAK $ 0.16539 $ 0.16902 $ 0.18354 $ 0.16902 TOU-GS-1-PRI-A Energy Summer OFF-PEAK $ 0.15865 $ 0.16214 $ 0.17611 $ 0.16214 TOU-GS-1-PRI-A Energy Winter MID-PEAK $ 0.11358 $ 0.11615 $ 0.12641 $ 0.11615 TOU-GS-1-PRI-A Energy Winter OFF-PEAK $ 0.10092 $ 0.10323 $ 0.11246 $ 0.10323 TOU-GS-1-PRI-B Energy Summer ON-PEAK $ 0.09204 $ 0.09417 $ 0.10267 $ 0.09417 TOU-GS-1-PRI-B Energy Summer MID-PEAK $ 0.08532 $ 0.08730 $ 0.09525 $ 0.08730 TOU-GS-1-PRI-B Energy Summer OFF-PEAK $ 0.08164 $ 0.08355 $ 0.09120 $ 0.08355 TOU-GS-1-PRI-B Energy Winter MID-PEAK $ 0.11462 $ 0.11721 $ 0.12756 $ 0.11721 TOU-GS-1-PRI-B Energy Winter OFF-PEAK $ 0.10196 $ 0.10429 $ 0.11360 $ 0.10429 TOU-GS-1-PRI-B Demand Summer ON-PEAK $ 14.48 $ 14.78 $ 15.97 $ 14.78 TOU-GS-1-PRI-B Demand Summer MID-PEAK $ 4.54 $ 4.63 $ 5.01 $ 4.63 TOU-GS-1-PRI-D Energy Summer ON-PEAK $ 0.13055 $ 0.13346 $ 0.14513 $ 0.13346 TOU-GS-1-PRI-D Energy Summer MID-PEAK $ 0.11672 $ 0.11935 $ 0.12988 $ 0.11935 TOU-GS-1-PRI-D Energy Summer OFF-PEAK $ 0.07238 $ 0.07410 $ 0.08099 $ 0.07410 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 122
Exhibit B to Resolution 23-06-051
Phase 6 CARE/FERA/Medical Baseline Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN - CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-1-PRI-D Energy Winter MID-PEAK $ 0.12221 $ 0.12496 $ 0.13593 $ 0.12496 TOU-GS-1-PRI-D Energy Winter OFF-PEAK $ 0.08277 $ 0.08470 $ 0.09244 $ 0.08470 TOU-GS-1-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.05891 $ 0.06035 $ 0.06613 $ 0.06035 TOU-GS-1-PRI-D Demand Summer ON-PEAK $ 19.89 $ 20.30 $ 21.93 $ 20.30 TOU-GS-1-PRI-D Demand Winter MID-PEAK $ 5.98 $ 6.10 $ 6.59 $ 6.10 TOU-GS-1-PRI-E Energy Summer ON-PEAK $ 0.51852 $ 0.52941 $ 0.57295 $ 0.52941 TOU-GS-1-PRI-E Energy Summer MID-PEAK $ 0.12851 $ 0.13138 $ 0.14288 $ 0.13138 TOU-GS-1-PRI-E Energy Summer OFF-PEAK $ 0.08816 $ 0.09021 $ 0.09839 $ 0.09021 TOU-GS-1-PRI-E Energy Winter MID-PEAK $ 0.20176 $ 0.20614 $ 0.22365 $ 0.20614 TOU-GS-1-PRI-E Energy Winter OFF-PEAK $ 0.10630 $ 0.10872 $ 0.11839 $ 0.10872 TOU-GS-1-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.04963 $ 0.05088 $ 0.05590 $ 0.05088 TOU-GS-1-PRI-ES Energy Summer ON-PEAK $ 0.56117 $ 0.57294 $ 0.61998 $ 0.57294 TOU-GS-1-PRI-ES Energy Summer MID-PEAK $ 0.14004 $ 0.14315 $ 0.15559 $ 0.14315 TOU-GS-1-PRI-ES Energy Summer OFF-PEAK $ 0.09631 $ 0.09852 $ 0.10737 $ 0.09852 TOU-GS-1-PRI-ES Energy Winter MID-PEAK $ 0.18747 $ 0.19155 $ 0.20789 $ 0.19155 TOU-GS-1-PRI-ES Energy Winter OFF-PEAK $ 0.09848 $ 0.10073 $ 0.10976 $ 0.10073 TOU-GS-1-PRI-ES Energy Winter SUPER-OFF-PEAK $ 0.04539 $ 0.04656 $ 0.05123 $ 0.04656 TOU-GS-1-SUB-A Energy Summer ON-PEAK $ 0.17583 $ 0.17967 $ 0.19506 $ 0.17967 TOU-GS-1-SUB-A Energy Summer MID-PEAK $ 0.16349 $ 0.16709 $ 0.18146 $ 0.16709 TOU-GS-1-SUB-A Energy Summer OFF-PEAK $ 0.15676 $ 0.16021 $ 0.17403 $ 0.16021 TOU-GS-1-SUB-A Energy Winter MID-PEAK $ 0.11169 $ 0.11421 $ 0.12433 $ 0.11421 TOU-GS-1-SUB-A Energy Winter OFF-PEAK $ 0.09903 $ 0.10130 $ 0.11037 $ 0.10130 TOU-GS-1-SUB-B Energy Summer ON-PEAK $ 0.09150 $ 0.09362 $ 0.10207 $ 0.09362 TOU-GS-1-SUB-B Energy Summer MID-PEAK $ 0.08477 $ 0.08675 $ 0.09465 $ 0.08675 TOU-GS-1-SUB-B Energy Summer OFF-PEAK $ 0.08110 $ 0.08300 $ 0.09060 $ 0.08300 TOU-GS-1-SUB-B Energy Winter MID-PEAK $ 0.11407 $ 0.11665 $ 0.12696 $ 0.11665 TOU-GS-1-SUB-B Energy Winter OFF-PEAK $ 0.10142 $ 0.10374 $ 0.11300 $ 0.10374 TOU-GS-1-SUB-B Demand Summer ON-PEAK $ 14.15 $ 14.44 $ 15.60 $ 14.44 TOU-GS-1-SUB-B Demand Summer MID-PEAK $ 4.21 $ 4.29 $ 4.64 $ 4.29 TOU-GS-1-SUB-D Energy Summer ON-PEAK $ 0.13001 $ 0.13291 $ 0.14453 $ 0.13291 TOU-GS-1-SUB-D Energy Summer MID-PEAK $ 0.11618 $ 0.11880 $ 0.12928 $ 0.11880 TOU-GS-1-SUB-D Energy Summer OFF-PEAK $ 0.07184 $ 0.07355 $ 0.08039 $ 0.07355 TOU-GS-1-SUB-D Energy Winter MID-PEAK $ 0.12167 $ 0.12440 $ 0.13533 $ 0.12440 TOU-GS-1-SUB-D Energy Winter OFF-PEAK $ 0.08222 $ 0.08415 $ 0.09184 $ 0.08415 TOU-GS-1-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.05837 $ 0.05980 $ 0.06553 $ 0.05980 TOU-GS-1-SUB-D Demand Summer ON-PEAK $ 19.63 $ 20.04 $ 21.65 $ 20.04 TOU-GS-1-SUB-D Demand Winter MID-PEAK $ 5.72 $ 5.84 $ 6.31 $ 5.84 TOU-GS-1-SUB-E Energy Summer ON-PEAK $ 0.51663 $ 0.52747 $ 0.57086 $ 0.52747 TOU-GS-1-SUB-E Energy Summer MID-PEAK $ 0.12662 $ 0.12945 $ 0.14079 $ 0.12945 TOU-GS-1-SUB-E Energy Summer OFF-PEAK $ 0.08627 $ 0.08827 $ 0.09630 $ 0.08827 TOU-GS-1-SUB-E Energy Winter MID-PEAK $ 0.19987 $ 0.20420 $ 0.22156 $ 0.20420 TOU-GS-1-SUB-E Energy Winter OFF-PEAK $ 0.10441 $ 0.10678 $ 0.11630 $ 0.10678 TOU-GS-1-SUB-E Energy Winter SUPER-OFF-PEAK $ 0.04774 $ 0.04895 $ 0.05381 $ 0.04895 TOU-GS-2-B Energy Summer ON-PEAK $ 0.08717 $ 0.08928 $ 0.09770 $ 0.08928 TOU-GS-2-B Energy Summer MID-PEAK $ 0.08078 $ 0.08275 $ 0.09062 $ 0.08275 TOU-GS-2-B Energy Summer OFF-PEAK $ 0.07727 $ 0.07917 $ 0.08675 $ 0.07917 TOU-GS-2-B Energy Winter MID-PEAK $ 0.10848 $ 0.11104 $ 0.12127 $ 0.11104 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 123
Exhibit B to Resolution 23-06-051
Phase 6 CARE/FERA/Medical Baseline Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN - CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-2-B Energy Winter OFF-PEAK $ 0.05921 $ 0.06073 $ 0.06677 $ 0.06073 TOU-GS-2-B Demand Summer ON-PEAK $ 17.63 $ 18.00 $ 19.50 $ 18.00 TOU-GS-2-B Demand Summer MID-PEAK $ 5.92 $ 6.05 $ 6.55 $ 6.05 TOU-GS-2-D Energy Summer ON-PEAK $ 0.12501 $ 0.12792 $ 0.13955 $ 0.12792 TOU-GS-2-D Energy Summer MID-PEAK $ 0.11292 $ 0.11557 $ 0.12618 $ 0.11557 TOU-GS-2-D Energy Summer OFF-PEAK $ 0.06818 $ 0.06988 $ 0.07668 $ 0.06988 TOU-GS-2-D Energy Winter MID-PEAK $ 0.08050 $ 0.08247 $ 0.09032 $ 0.08247 TOU-GS-2-D Energy Winter OFF-PEAK $ 0.08106 $ 0.08304 $ 0.09094 $ 0.08304 TOU-GS-2-D Energy Winter SUPER-OFF-PEAK $ 0.03689 $ 0.03793 $ 0.04208 $ 0.03793 TOU-GS-2-D Demand Summer ON-PEAK $ 25.42 $ 25.96 $ 28.12 $ 25.96 TOU-GS-2-D Demand Winter MID-PEAK $ 6.67 $ 6.81 $ 7.38 $ 6.81 TOU-GS-2-E Energy Summer ON-PEAK $ 0.44814 $ 0.45791 $ 0.49701 $ 0.45791 TOU-GS-2-E Energy Summer MID-PEAK $ 0.11292 $ 0.11557 $ 0.12618 $ 0.11557 TOU-GS-2-E Energy Summer OFF-PEAK $ 0.06818 $ 0.06988 $ 0.07668 $ 0.06988 TOU-GS-2-E Energy Winter MID-PEAK $ 0.13173 $ 0.13478 $ 0.14698 $ 0.13478 TOU-GS-2-E Energy Winter OFF-PEAK $ 0.08106 $ 0.08304 $ 0.09094 $ 0.08304 TOU-GS-2-E Energy Winter SUPER-OFF-PEAK $ 0.03689 $ 0.03793 $ 0.04208 $ 0.03793 TOU-GS-2-E Demand Summer ON-PEAK $ 7.15 $ 7.30 $ 7.91 $ 7.30 TOU-GS-2-E Demand Winter MID-PEAK $ 2.77 $ 2.82 $ 3.06 $ 2.82 TOU-GS-2-PRI-B Energy Summer ON-PEAK $ 0.08603 $ 0.08811 $ 0.09644 $ 0.08811 TOU-GS-2-PRI-B Energy Summer MID-PEAK $ 0.07964 $ 0.08158 $ 0.08936 $ 0.08158 TOU-GS-2-PRI-B Energy Summer OFF-PEAK $ 0.07613 $ 0.07800 $ 0.08548 $ 0.07800 TOU-GS-2-PRI-B Energy Winter MID-PEAK $ 0.10734 $ 0.10987 $ 0.12001 $ 0.10987 TOU-GS-2-PRI-B Energy Winter OFF-PEAK $ 0.05807 $ 0.05956 $ 0.06551 $ 0.05956 TOU-GS-2-PRI-B Demand Summer ON-PEAK $ 16.93 $ 17.29 $ 18.72 $ 17.29 TOU-GS-2-PRI-B Demand Summer MID-PEAK $ 5.22 $ 5.33 $ 5.77 $ 5.33 TOU-GS-2-PRI-D Energy Summer ON-PEAK $ 0.12387 $ 0.12675 $ 0.13829 $ 0.12675 TOU-GS-2-PRI-D Energy Summer MID-PEAK $ 0.11178 $ 0.11441 $ 0.12492 $ 0.11441 TOU-GS-2-PRI-D Energy Summer OFF-PEAK $ 0.06704 $ 0.06871 $ 0.07542 $ 0.06871 TOU-GS-2-PRI-D Energy Winter MID-PEAK $ 0.07936 $ 0.08130 $ 0.08906 $ 0.08130 TOU-GS-2-PRI-D Energy Winter OFF-PEAK $ 0.07992 $ 0.08187 $ 0.08968 $ 0.08187 TOU-GS-2-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.03575 $ 0.03676 $ 0.04081 $ 0.03676 TOU-GS-2-PRI-D Demand Summer ON-PEAK $ 24.84 $ 25.37 $ 27.48 $ 25.37 TOU-GS-2-PRI-D Demand Winter MID-PEAK $ 6.52 $ 6.66 $ 7.21 $ 6.66 TOU-GS-2-PRI-E Energy Summer ON-PEAK $ 0.44645 $ 0.45619 $ 0.49513 $ 0.45619 TOU-GS-2-PRI-E Energy Summer MID-PEAK $ 0.11123 $ 0.11384 $ 0.12431 $ 0.11384 TOU-GS-2-PRI-E Energy Summer OFF-PEAK $ 0.06648 $ 0.06815 $ 0.07481 $ 0.06815 TOU-GS-2-PRI-E Energy Winter MID-PEAK $ 0.13004 $ 0.13305 $ 0.14511 $ 0.13305 TOU-GS-2-PRI-E Energy Winter OFF-PEAK $ 0.07937 $ 0.08131 $ 0.08907 $ 0.08131 TOU-GS-2-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.03520 $ 0.03620 $ 0.04020 $ 0.03620 TOU-GS-2-PRI-E Demand Summer ON-PEAK $ 6.91 $ 7.06 $ 7.64 $ 7.06 TOU-GS-2-PRI-E Demand Winter MID-PEAK $ 2.70 $ 2.76 $ 2.99 $ 2.76 TOU-GS-2-PRI-R Energy Summer ON-PEAK $ 0.31709 $ 0.32407 $ 0.35203 $ 0.32407 TOU-GS-2-PRI-R Energy Summer MID-PEAK $ 0.14290 $ 0.14619 $ 0.15935 $ 0.14619 TOU-GS-2-PRI-R Energy Summer OFF-PEAK $ 0.07440 $ 0.07623 $ 0.08357 $ 0.07623 TOU-GS-2-PRI-R Energy Winter MID-PEAK $ 0.10561 $ 0.10811 $ 0.11810 $ 0.10811 TOU-GS-2-PRI-R Energy Winter OFF-PEAK $ 0.05634 $ 0.05779 $ 0.06360 $ 0.05779 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 124
Exhibit B to Resolution 23-06-051
Phase 6 CARE/FERA/Medical Baseline Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN - CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-2-R Energy Summer ON-PEAK $ 0.31996 $ 0.32701 $ 0.35521 $ 0.32701 TOU-GS-2-R Energy Summer MID-PEAK $ 0.14577 $ 0.14912 $ 0.16252 $ 0.14912 TOU-GS-2-R Energy Summer OFF-PEAK $ 0.07727 $ 0.07917 $ 0.08675 $ 0.07917 TOU-GS-2-R Energy Winter MID-PEAK $ 0.10848 $ 0.11104 $ 0.12127 $ 0.11104 TOU-GS-2-R Energy Winter OFF-PEAK $ 0.05921 $ 0.06073 $ 0.06677 $ 0.06073 TOU-GS-2-SUB-B Energy Summer ON-PEAK $ 0.08468 $ 0.08674 $ 0.09495 $ 0.08674 TOU-GS-2-SUB-B Energy Summer MID-PEAK $ 0.07829 $ 0.08020 $ 0.08787 $ 0.08020 TOU-GS-2-SUB-B Energy Summer OFF-PEAK $ 0.07478 $ 0.07662 $ 0.08399 $ 0.07662 TOU-GS-2-SUB-B Energy Winter MID-PEAK $ 0.10599 $ 0.10850 $ 0.11852 $ 0.10850 TOU-GS-2-SUB-B Energy Winter OFF-PEAK $ 0.05672 $ 0.05818 $ 0.06402 $ 0.05818 TOU-GS-2-SUB-B Demand Summer ON-PEAK $ 15.99 $ 16.33 $ 17.69 $ 16.33 TOU-GS-2-SUB-B Demand Summer MID-PEAK $ 4.29 $ 4.38 $ 4.74 $ 4.38 TOU-GS-2-SUB-D Energy Summer ON-PEAK $ 0.12252 $ 0.12537 $ 0.13680 $ 0.12537 TOU-GS-2-SUB-D Energy Summer MID-PEAK $ 0.11043 $ 0.11303 $ 0.12343 $ 0.11303 TOU-GS-2-SUB-D Energy Summer OFF-PEAK $ 0.06569 $ 0.06733 $ 0.07393 $ 0.06733 TOU-GS-2-SUB-D Energy Winter MID-PEAK $ 0.07801 $ 0.07992 $ 0.08757 $ 0.07992 TOU-GS-2-SUB-D Energy Winter OFF-PEAK $ 0.07857 $ 0.08050 $ 0.08819 $ 0.08050 TOU-GS-2-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.03440 $ 0.03538 $ 0.03932 $ 0.03538 TOU-GS-2-SUB-D Demand Summer ON-PEAK $ 24.08 $ 24.59 $ 26.64 $ 24.59 TOU-GS-2-SUB-D Demand Winter MID-PEAK $ 6.32 $ 6.45 $ 6.99 $ 6.45 TOU-GS-3-B Energy Summer ON-PEAK $ 0.08324 $ 0.08512 $ 0.09260 $ 0.08512 TOU-GS-3-B Energy Summer MID-PEAK $ 0.07696 $ 0.07871 $ 0.08570 $ 0.07871 TOU-GS-3-B Energy Summer OFF-PEAK $ 0.07376 $ 0.07545 $ 0.08218 $ 0.07545 TOU-GS-3-B Energy Winter MID-PEAK $ 0.10878 $ 0.11115 $ 0.12066 $ 0.11115 TOU-GS-3-B Energy Winter OFF-PEAK $ 0.05854 $ 0.05992 $ 0.06546 $ 0.05992 TOU-GS-3-B Demand Summer ON-PEAK $ 14.67 $ 14.96 $ 16.12 $ 14.96 TOU-GS-3-B Demand Summer MID-PEAK $ 4.90 $ 5.00 $ 5.38 $ 5.00 TOU-GS-3-D Energy Summer ON-PEAK $ 0.11587 $ 0.11839 $ 0.12845 $ 0.11839 TOU-GS-3-D Energy Summer MID-PEAK $ 0.10464 $ 0.10694 $ 0.11611 $ 0.10694 TOU-GS-3-D Energy Summer OFF-PEAK $ 0.06691 $ 0.06846 $ 0.07466 $ 0.06846 TOU-GS-3-D Energy Winter MID-PEAK $ 0.07899 $ 0.08078 $ 0.08793 $ 0.08078 TOU-GS-3-D Energy Winter OFF-PEAK $ 0.07955 $ 0.08135 $ 0.08854 $ 0.08135 TOU-GS-3-D Energy Winter SUPER-OFF-PEAK $ 0.03629 $ 0.03723 $ 0.04101 $ 0.03723 TOU-GS-3-D Demand Summer ON-PEAK $ 21.89 $ 22.33 $ 24.05 $ 22.33 TOU-GS-3-D Demand Winter MID-PEAK $ 7.92 $ 8.08 $ 8.70 $ 8.08 TOU-GS-3-E Energy Summer ON-PEAK $ 0.36490 $ 0.37233 $ 0.40206 $ 0.37233 TOU-GS-3-E Energy Summer MID-PEAK $ 0.10464 $ 0.10694 $ 0.11611 $ 0.10694 TOU-GS-3-E Energy Summer OFF-PEAK $ 0.06691 $ 0.06846 $ 0.07466 $ 0.06846 TOU-GS-3-E Energy Winter MID-PEAK $ 0.13422 $ 0.13710 $ 0.14861 $ 0.13710 TOU-GS-3-E Energy Winter OFF-PEAK $ 0.07955 $ 0.08135 $ 0.08854 $ 0.08135 TOU-GS-3-E Energy Winter SUPER-OFF-PEAK $ 0.03629 $ 0.03723 $ 0.04101 $ 0.03723 TOU-GS-3-E Demand Summer ON-PEAK $ 6.16 $ 6.28 $ 6.76 $ 6.28 TOU-GS-3-E Demand Winter MID-PEAK $ 3.28 $ 3.34 $ 3.60 $ 3.34 TOU-GS-3-PRI-B Energy Summer ON-PEAK $ 0.08210 $ 0.08395 $ 0.09135 $ 0.08395 TOU-GS-3-PRI-B Energy Summer MID-PEAK $ 0.07582 $ 0.07755 $ 0.08445 $ 0.07755 TOU-GS-3-PRI-B Energy Summer OFF-PEAK $ 0.07262 $ 0.07428 $ 0.08093 $ 0.07428 TOU-GS-3-PRI-B Energy Winter MID-PEAK $ 0.10763 $ 0.10999 $ 0.11940 $ 0.10999 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 125
Exhibit B to Resolution 23-06-051
Phase 6 CARE/FERA/Medical Baseline Rate Schedules Effective July 1, 2023 CPA CODE TYPE SEASON TOU PERIOD LEAN - CARE CLEAN - CARE 100% GREEN - CARE
DEFAULT
100% GREEN -
CARE
TOU-GS-3-PRI-B Energy Winter OFF-PEAK $ 0.05740 $ 0.05876 $ 0.06420 $ 0.05876 TOU-GS-3-PRI-B Demand Summer ON-PEAK $ 14.06 $ 14.34 $ 15.45 $ 14.34 TOU-GS-3-PRI-B Demand Summer MID-PEAK $ 4.29 $ 4.37 $ 4.71 $ 4.37 TOU-GS-3-PRI-D Energy Summer ON-PEAK $ 0.11473 $ 0.11722 $ 0.12719 $ 0.11722 TOU-GS-3-PRI-D Energy Summer MID-PEAK $ 0.10350 $ 0.10577 $ 0.11486 $ 0.10577 TOU-GS-3-PRI-D Energy Summer OFF-PEAK $ 0.06576 $ 0.06729 $ 0.07340 $ 0.06729 TOU-GS-3-PRI-D Energy Winter MID-PEAK $ 0.07785 $ 0.07962 $ 0.08668 $ 0.07962 TOU-GS-3-PRI-D Energy Winter OFF-PEAK $ 0.07840 $ 0.08018 $ 0.08728 $ 0.08018 TOU-GS-3-PRI-D Energy Winter SUPER-OFF-PEAK $ 0.03514 $ 0.03606 $ 0.03975 $ 0.03606 TOU-GS-3-PRI-D Demand Summer ON-PEAK $ 21.39 $ 21.81 $ 23.50 $ 21.81 TOU-GS-3-PRI-D Demand Winter MID-PEAK $ 7.73 $ 7.88 $ 8.49 $ 7.88 TOU-GS-3-PRI-E Energy Summer ON-PEAK $ 0.36281 $ 0.37020 $ 0.39976 $ 0.37020 TOU-GS-3-PRI-E Energy Summer MID-PEAK $ 0.10255 $ 0.10481 $ 0.11382 $ 0.10481 TOU-GS-3-PRI-E Energy Summer OFF-PEAK $ 0.06482 $ 0.06633 $ 0.07236 $ 0.06633 TOU-GS-3-PRI-E Energy Winter MID-PEAK $ 0.13213 $ 0.13497 $ 0.14631 $ 0.13497 TOU-GS-3-PRI-E Energy Winter OFF-PEAK $ 0.07746 $ 0.07922 $ 0.08625 $ 0.07922 TOU-GS-3-PRI-E Energy Winter SUPER-OFF-PEAK $ 0.03420 $ 0.03510 $ 0.03872 $ 0.03510 TOU-GS-3-PRI-E Demand Summer ON-PEAK $ 5.95 $ 6.06 $ 6.53 $ 6.06 TOU-GS-3-PRI-E Demand Winter MID-PEAK $ 3.20 $ 3.27 $ 3.52 $ 3.27 TOU-GS-3-PRI-R Energy Summer ON-PEAK $ 0.26141 $ 0.26680 $ 0.28835 $ 0.26680 TOU-GS-3-PRI-R Energy Summer MID-PEAK $ 0.12178 $ 0.12441 $ 0.13494 $ 0.12441 TOU-GS-3-PRI-R Energy Summer OFF-PEAK $ 0.07132 $ 0.07296 $ 0.07950 $ 0.07296 TOU-GS-3-PRI-R Energy Winter MID-PEAK $ 0.10634 $ 0.10867 $ 0.11798 $ 0.10867 TOU-GS-3-PRI-R Energy Winter OFF-PEAK $ 0.05610 $ 0.05744 $ 0.06278 $ 0.05744 TOU-GS-3-R Energy Summer ON-PEAK $ 0.26385 $ 0.26929 $ 0.29103 $ 0.26929 TOU-GS-3-R Energy Summer MID-PEAK $ 0.12422 $ 0.12690 $ 0.13762 $ 0.12690 TOU-GS-3-R Energy Summer OFF-PEAK $ 0.07376 $ 0.07545 $ 0.08218 $ 0.07545 TOU-GS-3-R Energy Winter MID-PEAK $ 0.10878 $ 0.11115 $ 0.12066 $ 0.11115 TOU-GS-3-R Energy Winter OFF-PEAK $ 0.05854 $ 0.05992 $ 0.06546 $ 0.05992 TOU-GS-3-SUB-D Energy Summer ON-PEAK $ 0.11338 $ 0.11585 $ 0.12572 $ 0.11585 TOU-GS-3-SUB-D Energy Summer MID-PEAK $ 0.10215 $ 0.10440 $ 0.11338 $ 0.10440 TOU-GS-3-SUB-D Energy Summer OFF-PEAK $ 0.06442 $ 0.06592 $ 0.07192 $ 0.06592 TOU-GS-3-SUB-D Energy Winter MID-PEAK $ 0.07651 $ 0.07825 $ 0.08520 $ 0.07825 TOU-GS-3-SUB-D Energy Winter OFF-PEAK $ 0.07706 $ 0.07881 $ 0.08581 $ 0.07881 TOU-GS-3-SUB-D Energy Winter SUPER-OFF-PEAK $ 0.03380 $ 0.03469 $ 0.03828 $ 0.03469 TOU-GS-3-SUB-D Demand Summer ON-PEAK $ 20.72 $ 21.13 $ 22.77 $ 21.13 TOU-GS-3-SUB-D Demand Winter MID-PEAK $ 7.49 $ 7.64 $ 8.23 $ 7.64 Energy rates are shown in $/kWh and demand rates are shown in $/kW.
Agenda Page 126
Exhibit C to Resolution 23-06-051
Phase 6 Power Share Rates Effective July 1, 2023
CPA RATE TYPE SEASON CHARGE TYPE TOU PERIOD RATE
DOMESTIC-C-PS Energy All_Year Generation None $ 0.13377 DOMESTIC-C-PS Energy All_Year Power Share Credit - Tier 1 None $ (0.03684) DOMESTIC-C-PS Energy All_Year Power Share Credit - Tier 2 None $ (0.04930) DOMESTIC-C-PS Energy All_Year Power Share Credit - High Usage None $ (0.06333) DOMESTIC-F-PS Energy All_Year Generation None $ 0.13377 DOMESTIC-F-PS Energy All_Year Power Share Credit - Tier 1 None $ (0.04592) DOMESTIC-F-PS Energy All_Year Power Share Credit - Tier 2 None $ (0.06048) DOMESTIC-F-PS Energy All_Year Power Share Credit - High Usage None $ (0.07687) DOMESTIC-PS Energy All_Year Generation None $ 0.13377
DOMESTIC-PS Energy All_Year Power Share Credit - Tier 1 None $ (0.05712) DOMESTIC-PS Energy All_Year Power Share Credit - Tier 2 None $ (0.07487) DOMESTIC-PS Energy All_Year Power Share Credit - High Usage None $ (0.09485) TOU-D-4-C-PS Energy Summer Generation On-Peak $ 0.26038 TOU-D-4-C-PS Energy Summer Generation Mid-peak $ 0.15584 TOU-D-4-C-PS Energy Summer Generation Off-Peak $ 0.09462 TOU-D-4-C-PS Energy Winter Generation Mid-peak $ 0.19482 TOU-D-4-C-PS Energy Winter Generation Off-Peak $ 0.11839 TOU-D-4-C-PS Energy Winter Generation Super Off-Peak $ 0.09940 TOU-D-4-C-PS Energy Summer Power Share Credit On-Peak $ (0.05907) TOU-D-4-C-PS Energy Summer Power Share Credit Mid-peak $ (0.04459) TOU-D-4-C-PS Energy Summer Power Share Credit Off-Peak $ (0.03006) TOU-D-4-C-PS Energy Winter Power Share Credit Mid-peak $ (0.04999) TOU-D-4-C-PS Energy Winter Power Share Credit Off-Peak $ (0.03335) TOU-D-4-C-PS Energy Winter Power Share Credit Super Off-Peak $ (0.02855) TOU-D-4-F-PS Energy Summer Generation On-Peak $ 0.26038 TOU-D-4-F-PS Energy Summer Generation Mid-peak $ 0.15584 TOU-D-4-F-PS Energy Summer Generation Off-Peak $ 0.09462 TOU-D-4-F-PS Energy Winter Generation Mid-peak $ 0.19482 TOU-D-4-F-PS Energy Winter Generation Off-Peak $ 0.11839 TOU-D-4-F-PS Energy Winter Generation Super Off-Peak $ 0.09940 TOU-D-4-F-PS Energy Summer Power Share Credit On-Peak $ (0.07202) TOU-D-4-F-PS Energy Summer Power Share Credit Mid-peak $ (0.05500) TOU-D-4-F-PS Energy Summer Power Share Credit Off-Peak $ (0.03797) TOU-D-4-F-PS Energy Winter Power Share Credit Mid-peak $ (0.06135) TOU-D-4-F-PS Energy Winter Power Share Credit Off-Peak $ (0.04184) TOU-D-4-F-PS Energy Winter Power Share Credit Super Off-Peak $ (0.03620) TOU-D-4-PS Energy Summer Generation On-Peak $ 0.26038
TOU-D-4-PS Energy Summer Generation Mid-peak $ 0.15584
TOU-D-4-PS Energy Summer Generation Off-Peak $ 0.09462
TOU-D-4-PS Energy Winter Generation Mid-peak $ 0.19482
TOU-D-4-PS Energy Winter Generation Off-Peak $ 0.11839
TOU-D-4-PS Energy Winter Generation Super Off-Peak $ 0.09940 TOU-D-4-PS Energy Summer Power Share Credit On-Peak $ (0.08912) TOU-D-4-PS Energy Summer Power Share Credit Mid-peak $ (0.06821) TOU-D-4-PS Energy Summer Power Share Credit Off-Peak $ (0.04736) TOU-D-4-PS Energy Winter Power Share Credit Mid-peak $ (0.07601) Energy rates are shown in $/kWh.
Agenda Page 127
Exhibit C to Resolution 23-06-051
Phase 6 Power Share Rates Effective July 1, 2023
CPA RATE TYPE SEASON CHARGE TYPE TOU PERIOD RATE
TOU-D-4-PS Energy Winter Power Share Credit Off-Peak $ (0.05211) TOU-D-4-PS Energy Winter Power Share Credit Super Off-Peak $ (0.04521) TOU-D-5-C-PS Energy Summer Generation On-Peak $ 0.39630 TOU-D-5-C-PS Energy Summer Generation Mid-peak $ 0.22214 TOU-D-5-C-PS Energy Summer Generation Off-Peak $ 0.08638 TOU-D-5-C-PS Energy Winter Generation Mid-peak $ 0.27674 TOU-D-5-C-PS Energy Winter Generation Off-Peak $ 0.11733 TOU-D-5-C-PS Energy Winter Generation Super Off-Peak $ 0.08821 TOU-D-5-C-PS Energy Summer Power Share Credit On-Peak $ (0.07812) TOU-D-5-C-PS Energy Summer Power Share Credit Mid-peak $ (0.05400) TOU-D-5-C-PS Energy Summer Power Share Credit Off-Peak $ (0.02986) TOU-D-5-C-PS Energy Winter Power Share Credit Mid-peak $ (0.06156) TOU-D-5-C-PS Energy Winter Power Share Credit Off-Peak $ (0.03415) TOU-D-5-C-PS Energy Winter Power Share Credit Super Off-Peak $ (0.02723) TOU-D-5-F-PS Energy Summer Generation On-Peak $ 0.39630 TOU-D-5-F-PS Energy Summer Generation Mid-peak $ 0.22214 TOU-D-5-F-PS Energy Summer Generation Off-Peak $ 0.08638 TOU-D-5-F-PS Energy Winter Generation Mid-peak $ 0.27674 TOU-D-5-F-PS Energy Winter Generation Off-Peak $ 0.11733 TOU-D-5-F-PS Energy Winter Generation Super Off-Peak $ 0.08821 TOU-D-5-F-PS Energy Summer Power Share Credit On-Peak $ (0.09442) TOU-D-5-F-PS Energy Summer Power Share Credit Mid-peak $ (0.06606) TOU-D-5-F-PS Energy Summer Power Share Credit Off-Peak $ (0.03772) TOU-D-5-F-PS Energy Winter Power Share Credit Mid-peak $ (0.07495) TOU-D-5-F-PS Energy Winter Power Share Credit Off-Peak $ (0.04276) TOU-D-5-F-PS Energy Winter Power Share Credit Super Off-Peak $ (0.03465) TOU-D-5-PS Energy Summer Generation On-Peak $ 0.39630
TOU-D-5-PS Energy Summer Generation Mid-peak $ 0.22214
TOU-D-5-PS Energy Summer Generation Off-Peak $ 0.08638
TOU-D-5-PS Energy Winter Generation Mid-peak $ 0.27674
TOU-D-5-PS Energy Winter Generation Off-Peak $ 0.11733
TOU-D-5-PS Energy Winter Generation Super Off-Peak $ 0.08821 TOU-D-5-PS Energy Summer Power Share Credit On-Peak $ (0.11663) TOU-D-5-PS Energy Summer Power Share Credit Mid-peak $ (0.08180) TOU-D-5-PS Energy Summer Power Share Credit Off-Peak $ (0.04705) TOU-D-5-PS Energy Winter Power Share Credit Mid-peak $ (0.09272) TOU-D-5-PS Energy Winter Power Share Credit Off-Peak $ (0.05324) TOU-D-5-PS Energy Winter Power Share Credit Super Off-Peak $ (0.04330) TOU-D-PRIME-C-PS Energy Summer Generation On-Peak $ 0.37204 TOU-D-PRIME-C-PS Energy Summer Generation Mid-Peak $ 0.12214 TOU-D-PRIME-C-PS Energy Summer Generation Off-Peak $ 0.07625 TOU-D-PRIME-C-PS Energy Winter Generation Mid-Peak $ 0.31089 TOU-D-PRIME-C-PS Energy Winter Generation Off-Peak $ 0.06235 TOU-D-PRIME-C-PS Energy Winter Generation Super Off-Peak $ 0.06235 TOU-D-PRIME-C-PS Energy Summer Power Share Credit On-Peak $ (0.07917) TOU-D-PRIME-C-PS Energy Summer Power Share Credit Mid-peak $ (0.04456) Energy rates are shown in $/kWh.
Agenda Page 128
Exhibit C to Resolution 23-06-051
Phase 6 Power Share Rates Effective July 1, 2023
CPA RATE TYPE SEASON CHARGE TYPE TOU PERIOD RATE
TOU-D-PRIME-C-PS Energy Summer Power Share Credit Off-Peak $ (0.02772) TOU-D-PRIME-C-PS Energy Winter Power Share Credit Mid-peak $ (0.07149) TOU-D-PRIME-C-PS Energy Winter Power Share Credit Off-Peak $ (0.02489) TOU-D-PRIME-C-PS Energy Winter Power Share Credit Super Off-Peak $ (0.02489) TOU-D-PRIME-F-PS Energy Summer Generation On-Peak $ 0.37204 TOU-D-PRIME-F-PS Energy Summer Generation Mid-Peak $ 0.12214 TOU-D-PRIME-F-PS Energy Summer Generation Off-Peak $ 0.07625 TOU-D-PRIME-F-PS Energy Winter Generation Mid-Peak $ 0.31089 TOU-D-PRIME-F-PS Energy Winter Generation Off-Peak $ 0.06235 TOU-D-PRIME-F-PS Energy Winter Generation Super Off-Peak $ 0.06235 TOU-D-PRIME-F-PS Energy Summer Power Share Credit On-Peak $ (0.09563) TOU-D-PRIME-F-PS Energy Summer Power Share Credit Mid-peak $ (0.05493) TOU-D-PRIME-F-PS Energy Summer Power Share Credit Off-Peak $ (0.03521) TOU-D-PRIME-F-PS Energy Winter Power Share Credit Mid-peak $ (0.08659) TOU-D-PRIME-F-PS Energy Winter Power Share Credit Off-Peak $ (0.03189) TOU-D-PRIME-F-PS Energy Winter Power Share Credit Super Off-Peak $ (0.03189) TOU-D-PRIME-PS Energy Summer Generation On-Peak $ 0.37204 TOU-D-PRIME-PS Energy Summer Generation Mid-Peak $ 0.12214 TOU-D-PRIME-PS Energy Summer Generation Off-Peak $ 0.07625 TOU-D-PRIME-PS Energy Winter Generation Mid-Peak $ 0.31089 TOU-D-PRIME-PS Energy Winter Generation Off-Peak $ 0.06235 TOU-D-PRIME-PS Energy Winter Generation Super Off-Peak $ 0.06235 TOU-D-PRIME-PS Energy Summer Power Share Credit On-Peak $ (0.11806) TOU-D-PRIME-PS Energy Summer Power Share Credit Mid-peak $ (0.06808) TOU-D-PRIME-PS Energy Summer Power Share Credit Off-Peak $ (0.04396) TOU-D-PRIME-PS Energy Winter Power Share Credit Mid-peak $ (0.10696) TOU-D-PRIME-PS Energy Winter Power Share Credit Off-Peak $ (0.03990) TOU-D-PRIME-PS Energy Winter Power Share Credit Super Off-Peak $ (0.03990) TOU-D-A-C-PS Energy Summer Generation On-Peak $ 0.33005 TOU-D-A-C-PS Energy Summer Generation Off-Peak $ 0.12858 TOU-D-A-C-PS Energy Summer Generation Super Off-Peak $ 0.08587 TOU-D-A-C-PS Energy Winter Generation On-Peak $ 0.18959 TOU-D-A-C-PS Energy Winter Generation Off-Peak $ 0.09412 TOU-D-A-C-PS Energy Winter Generation Super Off-Peak $ 0.08821 TOU-D-A-C-PS Energy Summer Power Share Credit On-Peak $ (0.09254) TOU-D-A-C-PS Energy Summer Power Share Credit Off-Peak $ (0.04959) TOU-D-A-C-PS Energy Summer Power Share Credit Super Off-Peak $ (0.00785) TOU-D-A-C-PS Energy Winter Power Share Credit On-Peak $ (0.05184) TOU-D-A-C-PS Energy Winter Power Share Credit Off-Peak $ (0.03705) TOU-D-A-C-PS Energy Winter Power Share Credit Super Off-Peak $ (0.00768) TOU-D-A-F-PS Energy Summer Generation On-Peak $ 0.33005 TOU-D-A-F-PS Energy Summer Generation Off-Peak $ 0.12858 TOU-D-A-F-PS Energy Summer Generation Super Off-Peak $ 0.08587 TOU-D-A-F-PS Energy Winter Generation On-Peak $ 0.18959 TOU-D-A-F-PS Energy Winter Generation Off-Peak $ 0.09412 TOU-D-A-F-PS Energy Winter Generation Super Off-Peak $ 0.08821 Energy rates are shown in $/kWh.
Agenda Page 129
Exhibit C to Resolution 23-06-051
Phase 6 Power Share Rates Effective July 1, 2023
CPA RATE TYPE SEASON CHARGE TYPE TOU PERIOD RATE
TOU-D-A-F-PS Energy Summer Power Share Credit On-Peak $ (0.11120) TOU-D-A-F-PS Energy Summer Power Share Credit Off-Peak $ (0.06081) TOU-D-A-F-PS Energy Summer Power Share Credit Super Off-Peak $ (0.01201) TOU-D-A-F-PS Energy Winter Power Share Credit On-Peak $ (0.06351) TOU-D-A-F-PS Energy Winter Power Share Credit Off-Peak $ (0.04613) TOU-D-A-F-PS Energy Winter Power Share Credit Super Off-Peak $ (0.01182) TOU-D-A-PS Energy Summer Generation On-Peak $ 0.33005
TOU-D-A-PS Energy Summer Generation Off-Peak $ 0.12858
TOU-D-A-PS Energy Summer Generation Super Off-Peak $ 0.08587 TOU-D-A-PS Energy Winter Generation On-Peak $ 0.18959
TOU-D-A-PS Energy Winter Generation Off-Peak $ 0.09412
TOU-D-A-PS Energy Winter Generation Super Off-Peak $ 0.08821 TOU-D-A-PS Energy Summer Power Share Credit On-Peak $ (0.13699) TOU-D-A-PS Energy Summer Power Share Credit Off-Peak $ (0.07526) TOU-D-A-PS Energy Summer Power Share Credit Super Off-Peak $ (0.01569) TOU-D-A-PS Energy Winter Power Share Credit On-Peak $ (0.07864) TOU-D-A-PS Energy Winter Power Share Credit Off-Peak $ (0.05731) TOU-D-A-PS Energy Winter Power Share Credit Super Off-Peak $ (0.01546) TOU-D-B-C-PS Energy Summer Generation On-Peak $ 0.50268 TOU-D-B-C-PS Energy Summer Generation Off-Peak $ 0.12852 TOU-D-B-C-PS Energy Summer Generation Super Off-Peak $ 0.04006 TOU-D-B-C-PS Energy Winter Generation On-Peak $ 0.17151 TOU-D-B-C-PS Energy Winter Generation Off-Peak $ 0.09413 TOU-D-B-C-PS Energy Winter Generation Super Off-Peak $ 0.04134 TOU-D-B-C-PS Energy Summer Power Share Credit On-Peak $ (0.09684) TOU-D-B-C-PS Energy Summer Power Share Credit Off-Peak $ (0.03651) TOU-D-B-C-PS Energy Summer Power Share Credit Super Off-Peak $ (0.01484) TOU-D-B-C-PS Energy Winter Power Share Credit On-Peak $ (0.05098) TOU-D-B-C-PS Energy Winter Power Share Credit Off-Peak $ (0.03174) TOU-D-B-C-PS Energy Winter Power Share Credit Super Off-Peak $ (0.01502) TOU-D-B-F-PS Energy Summer Generation On-Peak $ 0.50268 TOU-D-B-F-PS Energy Summer Generation Off-Peak $ 0.12852 TOU-D-B-F-PS Energy Summer Generation Super Off-Peak $ 0.04006 TOU-D-B-F-PS Energy Winter Generation On-Peak $ 0.17151 TOU-D-B-F-PS Energy Winter Generation Off-Peak $ 0.09413 TOU-D-B-F-PS Energy Winter Generation Super Off-Peak $ 0.04134 TOU-D-B-F-PS Energy Summer Power Share Credit On-Peak $ (0.11641) TOU-D-B-F-PS Energy Summer Power Share Credit Off-Peak $ (0.04553) TOU-D-B-F-PS Energy Summer Power Share Credit Super Off-Peak $ (0.02013) TOU-D-B-F-PS Energy Winter Power Share Credit On-Peak $ (0.06248) TOU-D-B-F-PS Energy Winter Power Share Credit Off-Peak $ (0.03993) TOU-D-B-F-PS Energy Winter Power Share Credit Super Off-Peak $ (0.02034) TOU-D-B-PS Energy Summer Generation On-Peak $ 0.50268
TOU-D-B-PS Energy Summer Generation Off-Peak $ 0.12852
TOU-D-B-PS Energy Summer Generation Super Off-Peak $ 0.04006 TOU-D-B-PS Energy Winter Generation On-Peak $ 0.17151
Energy rates are shown in $/kWh.
Agenda Page 130
Exhibit C to Resolution 23-06-051
Phase 6 Power Share Rates Effective July 1, 2023
CPA RATE TYPE SEASON CHARGE TYPE TOU PERIOD RATE
TOU-D-B-PS Energy Winter Generation Off-Peak $ 0.09413
TOU-D-B-PS Energy Winter Generation Super Off-Peak $ 0.04134 TOU-D-B-PS Energy Summer Power Share Credit On-Peak $ (0.14360) TOU-D-B-PS Energy Summer Power Share Credit Off-Peak $ (0.05663) TOU-D-B-PS Energy Summer Power Share Credit Super Off-Peak $ (0.02553) TOU-D-B-PS Energy Winter Power Share Credit On-Peak $ (0.07736) TOU-D-B-PS Energy Winter Power Share Credit Off-Peak $ (0.04975) TOU-D-B-PS Energy Winter Power Share Credit Super Off-Peak $ (0.02578) Notes
For Domestic, D-CARE and D-FERA rates the following definitions from SCE Schedule D (Domestic Service) apply:
C refers CARE-discounted rates and F refers to FERA-discounted rates as defined in SCE Schedule TOU-D.
On-Peak: 4:00 p.m. to 9:00 p.m. summer weekdays except holidays Tier 1: Baseline Service
Tier 2: 100% to 400% of Baseline Service
High Usage: 400% of Baseline Servce
For TOU-D rate schedules the following definitions from SCE Schedule TOU-D (Time-of-Use Domestic) apply:
TOU-D-4 and TOU-D-PRIME:
Off-Peak: All other hours – all year, every day
Mid-Peak: 4:00 p.m. to 9:00 p.m. winter weekdays and summer and winter weekends/holidays Off-Peak: 9:00 p.m. to 4:00 p.m. summer weekdays and weekends. 9:00 p.m. to 8:00 a.m. winter weekdays and weekends/holidays Super Off-Peak: 8:00 a.m. to 4:00 p.m. winter weekdays and weekends/holidays TOU-D-5:
On-Peak: 5:00 p.m. to 8:00 p.m. summer weekdays except holidays Mid-Peak: 5:00 p.m. to 8:00 p.m. winter weekdays and summer and winter weekends/holidays Off-Peak: 8:00 p.m. to 5:00 p.m. summer weekdays and weekends. 8:00 p.m. to 8:00 a.m. winter weekdays and weekends/holidays Super Off-Peak: 8:00 a.m. to 5:00 p.m. winter weekdays and weekends/holidays TOU-D-A and TOU-D-B:
On-Peak: 2:00 p.m. to 8:00 p.m. summer and winter weekdays except holidays Super Off-Peak: 10:00 p.m. to 8:00 a.m. all year, every day Energy rates are shown in $/kWh.
Agenda Page 131
Exhibit D to Resolution 23-06-051
Phase 6 Wind Machine Credit Rate Schedules Effective July 1, 2023 CPA RATE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-PA-2-A Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-B Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-D Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-D-5 Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-E Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-E-5 Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-A Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-B Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-D Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-D-5 Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-E Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) TOU-PA-2-PRI-E-5 Demand Credit Winter Total $ (6.33) $ (6.33) $ (6.33) Wind Machine Credit: Agricultural customers served under a PA-2 rate schedule who incur energy usage during the Winter Season solely for wind machine operations that have been determined eligible by SCE will receive a monthly winter demand credit based on highest recorded off-peak monthly kW demand. All demand credits are shown in $/kW.
Winter season commences at 12:00 a.m. on October 1 of each year and continues until 12:00 a.m. on June 1 Agenda Page 132
Exhibit E to Resolution 23-06-051
Phase 6 Peak Management Pricing (PMP) Rate Schedules Effective July 1, 2023 CPA RATE TYPE SEASON TOU PERIOD LEAN CLEAN 100% GREEN
TOU-GS-1 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-GS-1 Energy Credit Summer On-Peak $ (0.17054) $ (0.17054) $ (0.17054) TOU-GS-2 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-GS-2 Demand Credit Summer On-Peak $ (8.56) $ (8.56) $ (8.56) TOU-GS-3 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-GS-3 Demand Credit Summer On-Peak $ (9.44) $ (9.44) $ (9.44) TOU-8-SEC Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-8-SEC Demand Credit Summer On-Peak $ (10.28) $ (10.28) $ (10.28) TOU-8-PRI Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-8-PRI Demand Credit Summer On-Peak $ (10.65) $ (10.65) $ (10.65) TOU-8-SUB Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-8-SUB Demand Credit Summer On-Peak $ (10.55) $ (10.55) $ (10.55) TOU-PA-2 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-PA-2 Demand Credit Summer On-Peak $ (7.10) $ (7.10) $ (7.10) TOU-PA-3 Energy Surcharge All_Year On-Peak $ 1.00 $ 1.00 $ 1.00 TOU-PA-3 Demand Credit Summer On-Peak $ (7.73) $ (7.73) $ (7.73) Credit is applied to peak demand charge in $/kW, except TOU-GS-1 customers for which it is applied to on-peak energy charges in ($/kWh). Rates apply equally to all service voltages.
Agenda Page 133
Staff Report – Agenda Item 8
To: Board of Directors
From: David McNeil, Chief Financial Officer
Antony Sugiarto, Manager, Financial Planning and Analysis
Approved By: Ted Bardacke, Chief Executive Officer
Subject: Proposed FY 2023/2024 Budget
Date: June 1, 2023
RECOMMENDATION
Approve the Proposed FY 2023/24 Budget (Attachment 2), as recommended by the Finance Committee.
BACKGROUND
Each year CPA develops an annual budget to govern the receipt of revenues, the incurrence of expenses, and capital expenditures during the upcoming fiscal year. The Proposed Fiscal Year 2023/24 Budget (provided in Attachment 2) was developed in accordance with the timeline and priorities summarized in the Proposed FY 2023/24 Budget presentation (provided as Attachment 1) and reflects the input of the Board, Finance, and Executive Committees.
The Proposed FY 2023/24 Budget revenues incorporate the rate setting approach approved by the Board at its May 4, 2023 Board meeting.
SUMMARY
The Proposed 2023/24 Budget revenues reflect the rate approach approved by the Board at its May 4, 2023 Board meeting, the full year impact of CPA member community default product changes in 2022 and upcoming default product changes scheduled for October 2023, new community enrollments in March 2024, and an allowance for bad debt as described below.
Agenda Page 134
Board of Directors Item 8
The cost of energy reflects increased costs of energy, resource adequacy, and renewable energy and a contingency equal to 7% of cost of energy.
The increase in operating expenses reflect investments in staffing and customer programs. Operating expenses excluding staffing and customer programs are budgeted to decrease by 2% year-over-year.
The budgeted increase in the net position would bring CPA’s reserve percentage to 40% by June 30, 2024 or the mid-point of the target range contained in CPA’s Reserve Policy.
Combined with an proposed increase to CPA’s line of credit with JPMorgan, Days Liquidity on Hand is expected to reach approximately 150 days, also consistent with the Reserve Policy target.
DISCUSSION
The Proposed Budget sets forth changes to the following budget line items:
Revenue – electricity net (+$393,415,000; 33% increase): Budgeted electricity revenues are based on estimates of customer electricity usage and retail electricity rates.
Budgeted revenues incorporate the rate approach approved by the Board on May 4, 2023. Budgeted revenues include an allowance for doubtful accounts equal to 1.77% of revenues or $28.3 million. Revenues are budgeted to be higher than FY 22/23 budgeted revenues due to an increase in rates as reflected in the rate approach approved by the Board at its May 2023 meeting, the full-year impact of changes in default products in Beverly Hills, Camarillo, Claremont, Hawthorne, Redondo Beach and residential customers in Los Angeles County not on CARE, FERA or Medical Baseline rates, commercial customers in Rolling Hills Estates, and South Pasadena to 100% Green in October 2022, changes in default products in Alhambra, Paramount, and Los Angeles County commercial accounts in October 2023, and the enrollment of three new communities, Hermosa Beach, Monrovia, and Santa Paula, in March 2024.
Other revenue (+$496,000; 18% increase): Other revenue includes operating revenue from sources other than retail electricity sales. Other revenue includes funding from the California Public Utilities Commission (CPUC) to support the Power Share program and workforce development funding provided through a renewable energy power purchase Agenda Page 135
Board of Directors Item 8
agreement. Other revenue offset expenses budgeted in the Customer Programs, Staffing, Technical Services, Other Services, Mailers, Data Manager, and Communications budget line items.
Cost of energy (+$187,056,000; 18% increase): Cost of energy includes expenses associated with the purchase of system energy, renewable energy, resource adequacy, and charges by the California Independent System Operator (CAISO) for load, and services performed by the CAISO. CAISO charges for load are based on forecasts of electricity consumption by CPA customers and related line losses and prices at the Default Load Aggregation Point (DLAP). Forecasted credits for energy generation scheduled into the CAISO market and revenues arising from Congestion Revenue Rights (CRRs) are netted from the cost of energy. CRRs are financial instruments created by the CAISO which enable load serving entities, such as CPA, to manage price differences between wholesale energy delivery locations and retail use points. CAISO credits for energy generation are based on wholesale energy deliveries and Locational Margin Prices (LMPs). The budgeted cost of energy increased year over year due to increases in energy, renewable energy, and resource adequacy costs and the inclusion of an $82.1 million (7% of cost of energy) contingency to address potentially higher expenses arising from increasing energy market volatility.
Staffing (+$6,096,000; 44% increase): Staffing costs include salaries and benefits payable in accordance with CPA’s Board-approved Employee Handbook and salary grades and ranges approved by the Board on December 1, 2022. A third of the increase is driven by the full-year impact of new hires, previous merit increases, and a COLA awarded in the middle of the current fiscal year. Based on the board’s direction at its December 1, 2022 board meeting, a retention program incentive has been included in the staffing budget at an amount of $1.1 million dollar per basic program parameters recommended by the Executive Committee at its May 17, 2023 meeting. The staffing budget also includes an allowance for paid internships and an intern-to-employment fellowship program currently under development.
Agenda Page 136
Board of Directors Item 8
FY 2023/24 budgeted staffing costs is composed of the following:
The mid-year COLA is a placeholder. The actual amount is set in accordance with the annual inflation rate as of November 2023 for the Los Angeles Metro Region as announced by the Bureau of Labor Statistics in mid-December 2023. $432k of staffing expenses are reimbursable via CPUC customer program funding (Power Share).
Technical services (+$373,000; 26% increase): Technical services comprise professional services for scheduling coordination, short and long-term energy contracting, risk and portfolio management, and support for customer programs where engineering or other technical expertise is required. Scheduling coordinators provide a variety of services including scheduling generating and storage assets and customer energy use into the CAISO markets, managing CRR purchases and sales, validating CAISO invoices, and providing risk management and energy contract management software. The increase in technical services arises primarily from a provision for a new or amended agreement for scheduling coordinator services that is expected to be negotiated later this year and would come into effect in January 2024.
Agenda Page 137
Board of Directors Item 8
FY 2023/24 budgeted technical services are composed of the following:
Legal services (-$189,000; 15% decrease): Legal services support CPA’s contracting, including energy contracting for short-term and long-term energy, resource adequacy, and non-energy contracting, including banking, finance, and local programs. Legal services also include support for specific regulatory proceedings (e.g., SCE’s ERRA Applications, SCE General Rate Case, and other compliance obligations), employment matters, governance, and general liability management. The majority of the budget in this section is projected to be provided by the firms listed in the following table:
Legal Service Major Providers
Energy Contracting Hall Energy Law
Clean Energy Counsel
Keyes & Fox
Buchalter
Regulatory Compliance and CPUC Proceeding
Advocacy
Braun Blaising Smith Wynne
Keyes & Fox
Customer Programs Support Shute, Mihaly, & Weinberger
Banking and Finance Chapman
Employment Law and Compliance Polsinelli
General Liability and Governance Burke Williams & Sorensen Other services (+$73,000; 4% increase): Other services represent professional services not budgeted under Technical or Legal services and include costs associated with energy compliance auditing, financial audits and audit support, rate setting, lobbying services, non-technical assistance for local programs, and staff support services including recruitment, payroll, and benefits administration, IT support, and labor compliance. 2022/23 2023/24 Diff $ Diff %
Scheduling Coordinator 969,000 1,269,000 300,000 31%
Middle Office & LF Support - 33,000 33,000 0%
Energy planning & Risk Management 108,000 - (108,000) -100% Procurement planning & Support 165,000 221,000 56,000 34% Other 194,000 286,000 92,000 47%
Technical Services 1,436,000 1,809,000 373,000 26%
Agenda Page 138
Board of Directors Item 8
The proposed budget increase is due primarily to budgeting for additional HR services (retention incentive design and the development of a Management Training Program) and increased information technology (IT) services.
FY 2023/24 budgeted other services expenses are composed of the following:
Communications and marketing services (+$139,000; 7% increase):
Communications and related services include costs associated with customer outreach, marketing, branding, website management, translation, advertising, special events, and sponsorships. The increase in marketing expenses reflects investments in CPA’s website, enhanced digital communications, customer outreach, and outreach to increase brand awareness and reputation enhancement, and other costs for events related to CPA’s 5th anniversary, ribbon cutting events for local projects, and inflation costs for advertising.
CBO grants, approximately $275,000 in FY2023/24, are now almost exclusively funded through a separate grant program administered by Calpine Energy Services.
FY 2023/24 budgeted communications expenses and offsetting revenue (the latter recorded in the other revenue budget line item) are composed of the following:
2022/23 2023/24 Diff $ Diff %
Audit & Accounting Services 138,000 120,000 (18,000) -13% Prof - Collection Services (NEW) 297,000 297,000 - 0%
Prof - HR & Payroll Consulting 125,000 214,000 89,000 71% Prof - IT Services 414,000 497,000 83,000 20%
Prof - Legislative/Lobbying 152,000 166,000 14,000 9%
Prof - Strategic Planning 370,000 363,000 (7,000) -2%
Prof - REC Audit and Registry 44,000 51,000 7,000 16%
Prof - Regulatory Services 213,000 201,000 (12,000) -6% Prof - Rate Setting Support 149,000 66,000 (83,000) -56% Prof - Other Consultants - - - 0%
Total 1,902,000 1,975,000 73,000 4%
Agenda Page 139
Board of Directors Item 8
Customer notices and mailing services (-$323,000; 24% decrease): Notices and mailing services support required communication with CPA customers and include printing and postage costs. Costs are decreasing primarily due to a decrease in default change notice mailing from 6 to 3 cities and the annual NEM True-up letter mailing that is now being conducted in-house.
FY 2023/24 budgeted customer notices and mailing services are composed of the following:
Billing data management services (+$744,000; 7% increase): Billing data manager costs are based on the number of customer meters served by CPA and per-meter rates charged by CPA’s billing data manager, Calpine Energy Services. Increased costs reflect a 2.5% inflation escalator on per-meter charges included in the Calpine contract approved by the Board on April 1, 2021 and the enrollment of new customers planned for March 2024.
2022/23 2023/24 Diff $ Diff %
Advertising 435,000 644,000 209,000 48%
Communication Consultants 1,126,000 932,000 (194,000) -17% Sponsorships 100,000 147,000 47,000 47%
Website 144,000 239,000 95,000 66%
Communication - Others 18,000 31,500 13,500 75%
Special Events 25,000 132,000 107,000 428%
CBO Grants 170,000 31,500 (138,500) -81%
Communication & Outreach 2,018,000 2,157,000 139,000 7% Third Party Funding
Power Share (CPUC Funding) (366,500) (106,000) 260,500 -71% Workforce Development (25,900) - 25,900 -100%
Communication Costs net of Funding 1,625,600 2,051,000 425,400 26% 2022/23 2023/24 Diff $ Diff %
Enrollment Notices/All mailers 129,000 183,000 54,000 42% Customer Letters 595,000 42,000 (553,000) -93%
Joint Rate Comparison Mailer 220,000 242,000 22,000 10% Power Content Label Mailer 273,000 328,000 55,000 20%
Mailers - Other 129,000 228,000 99,000 77%
Total Mailers costs 1,346,000 1,023,000 (323,000) -24%
Agenda Page 140
Board of Directors Item 8
Service fees – SCE (+$49,000; 2% increase): Service fees are charged by SCE for a variety of customer billing and administrative services. The increase in service fees results from adding in contingencies to cover unforeseen costs from SCE.
Customer Programs (+$4,980,000; 107% increase): Customer programs represent direct costs associated with providing energy programs to CPA customers and other related services. Direct costs include both incentives for participation and payments to third parties for program implementation. The FY 2023/24 customer programs budget supports the CPA Power Share program (100% reimbursable from CPUC), CPA’s EV charger rebate program which provides matching funds for electric vehicle charger incentives administered by the Center for Sustainable Energy/CALeVIP program, ongoing Power Response, Power Ready, and Electrification Reach Code programs, new Local Government, Customer Energy Storage and Electrification programs, and workforce development programs funded through a long term renewable energy power purchase agreement.
FY 2023/24 budgeted customer programs expenses are composed of the following:
Program Expense Type 2022/23 2023/24 Diff $ Diff %
CalEVIP (LA) Implementation 28,000 35,000 7,000 25%
CalEVIP (Ventura) Implementation 11,000 11,000 - 0%
Power Response Implementation 483,000 831,000 348,000 72% Building Electrification Implementation 275,000 201,000 (74,000) -27% Local Government Program Implementation - 1,160,000 1,160,000 0% Electrification Advisor Implementation - 230,000 230,000 0% Solar + Storage Program Implementation - 150,000 150,000 0% Sub total Implementation 797,000 2,618,000 1,821,000 228% CalEVIP (Ventura) Incentives 533,000 338,000 (195,000) -37% CalEVIP (LA) Incentives 300,000 857,000 557,000 186%
Building Electrification Incentives 125,000 150,000 25,000 20% Power Response Incentives 1,144,000 596,000 (548,000) -48% Workforce Development Incentives 349,000 516,000 167,000 48% Power Share Incentives 1,415,000 2,065,000 650,000 46%
Local Government Program Incentives - 1,550,000 1,550,000 0% Electrification Advisor Incentives - 140,000 140,000 0% Solar + Storage Program Incentives - 813,000 813,000 0% Sub total Incentives 3,866,000 7,025,000 3,159,000 82%
Grand Total 4,663,000 9,643,000 4,980,000 107%
Agenda Page 141
Board of Directors Item 8
General and administration (-$1,376,000; 23% decrease): General and administration costs include office supplies, phone, insurance, internet, travel, dues and subscriptions, professional development, software licenses, and other related expenses. The majority of the budget decrease in G&A arises because the FY 2022/23 Budget included $2 million for Surety Bond costs to support CPA’s Financial Security Requirement. With notification from SCE that the FSR would remain at the administrative minimum over the summer of 2023, Surety Bond costs are not included in the FY 2023/24 Budget. Excluding Surety Bond costs from the FY 2022/23 Budget, FY 2023/24 “Other operating expenses” would have increased by 6%.
Finance and interest expense (+$831,000; 114% increase): Finance and interest expenses represent fees, borrowing and letter of credit costs associated with CPA’s loan facility. Costs include increased fees associated with the proposed increase in CPA’s credit facility with JPMorgan from $80 million to $160 million. Finance and interest expenses also include a contingency for unexpected interest and borrowing costs.
Interest income (+$3,828,000; 788% increase): Interest income represents income earned on funds in savings accounts held by River City Bank and other investment accounts. An increase in interest income arises from an expected increase in cash and cash equivalents and an increase in short term interest rates.
Capital outlay (+$153,000; 68% increase): Expenditures associated with capital outlay will support and accommodate equipment purchases and office improvements as staff 2022/23 2023/24 Diff $ Diff %
Office Operating Expenses 282,000 244,000 (38,000) -13% Software 1,094,000 1,315,000 221,000 20%
Prof. Development 512,000 610,000 98,000 19%
HR 135,000 178,000 43,000 32%
Insurance/Surety Bond 2,309,000 139,000 (2,170,000) -94% Phone & Internet 172,000 167,000 (5,000) -3%
Industry Membership Dues 498,000 562,000 64,000 13%
Depreciation & Amortization 622,000 719,000 97,000 16%
Others 253,000 567,000 314,000 124%
Total 5,877,000 4,501,000 (1,376,000) -23%
Agenda Page 142
Board of Directors Item 8
use the office on a regular basis for a full year and the Board room is occupied more often.
ATTACHMENTS
1. Proposed FY 2023/24 Budget Presentation
2. Proposed FY 2023/24 Budget
Agenda Page 143
Item 8 – Proposed FY 2023/24 Budget
June 1, 2023
Agenda Page 144
Recommendation:
Approve the Proposed Fiscal Year (FY) 2023/24 Budget
Agenda Page 145
FY 2023/24 Budget Process
January – April 2023 (Staff) – FY 2023/24 Goal Setting, Departmental Budgeting, Rate Design Planning, Energy Cost Projections & Consolidated Budget Planning (ongoing) April 19, 2023 (Executive Committee) – Budget Priorities April 20, 2023 (Community Advisory Committee) – Budget Priorities April 26, 2023 (Finance Committee) – Budget Priorities & Draft FY 2023/24 Operating Expenses Budget May 4, 2023 (Board) – Budget Priorities
May 17, 2023 (Executive Committee) – Draft FY 2023/24 Budget May 24, 2023 (Finance Committee) – Draft FY 2023/24 Budget June 1, 2023 (Board) – Proposed FY 2023/24 Budget
3 Agenda Page 146
FY 2023/24 Budget – Key Takeaways
4 Revenues reflect the rate approach approved by the Board at its May 2023 Board meeting, default product changes in 2022 and 2023, new community enrollments in 2024 and an allowance for bad debt
Cost of energy reflects increased costs of system energy, resource adequacy, and renewable energy and a contingency equal to 7% of cost of energy. Increases to operating expenses reflect investments in staffing and customer programs The budgeted increase in the net position would bring CPA’s reserve percentage to 40% by June 30, 2024 or the mid-point of the target range outlined in the reserve policy Agenda Page 147
Net Energy Revenue
5 Budgeted revenues include the FY 2023/24 Rate Approach approved by the Board on May 4, 2023, default rate changes in 2022 and 2023 and new customer enrollments planned for March 2024 Bad debt expense is budgeted at 1.77% of revenue or $28.3 million up from 1.25% of revenue included in the FY 2022/23 Budget
Energy costs (+18%) reflect higher energy, renewable energy and capacity costs arising from increasing market prices and constrained energy supply in the western United States and an energy cost contingency equal to 7% of cost of energy
A B C D E
FY 2022/23
Amended Budget
FY 2023/24
Budget
Budget
Difference
($)
Budget
Difference
(%)
1 Revenue - Electricity net 1,182,869,000 1,576,284,000 393,415,000 33% 2 Transfer from Fiscal Stabilization Fund - -
3 Other revenue 2,742,000 3,238,000 496,000 18%
4 TOTAL REVENUE 1,185,611,000 1,579,523,000 393,912,000 33% 5 TOTAL ENERGY COSTS 1,056,282,000 1,243,338,000 187,056,000 18% 6 NET ENERGY REVENUE 129,329,000 336,185,000 206,856,000 160% Agenda Page 148
FY 2023/24 Operating Expense Highlights
Proposed operating expenses are budgeted to increase by $10.6 million or 23% (see next slide for CCA comparisons) The 23% increase in operating expenses reflect investments in staffing and customer programs. Operating expenses other than staffing and customer programs are budgeted to decrease by 2% year- over-year. One-fourth of budgeted operating expenses are fixed by regulatory, contractual, or policy obligations
Increase in staffing expense reflects budget priorities presented to the Board at its May Board meeting, including investment s in staff retention and talent acquisition along with new positions addressing growth areas and reflecting the increasing complexity brought on by success. Mid-year COLA assumption is based on current inflation rate but will be determined by the annual inflation rate for Metro Los Angeles announced by the Bureau of Labor Statistics in December 2023.
Increase in Customer programs expenses (+107%) arises from an expanding suite of customer programs, a significant organizational priority 6 A B C D E F G
FY 2022/23
Amended Budget
FY 2023/24
Budget
Budget
Difference ($)
Budget
Difference
(%)
% of
Revenue
% of
Operating
Expenses
8 OPERATING EXPENSES
9 Staffing 13,976,000 20,072,000 6,096,000 44% 1.3% 36% 10 Technical services 1,436,000 1,809,000 373,000 26% 0.1% 3% 11 Legal services 1,243,000 1,054,000 (189,000) -15% 0.1% 2% 12 Other services 1,902,000 1,975,000 73,000 4% 0.1% 4% 13 Communications and marketing services 2,018,000 2,157,000 139,000 7% 0.1% 4% 14 Customer notices and mailing services 1,346,000 1,023,000 (323,000) -24% 0.1% 2% 15 Billing data management services 10,518,000 11,262,000 744,000 7% 0.7% 20% 16 Service fees - SCE 2,116,000 2,165,000 49,000 2% 0.1% 4% 17 Customer programs 4,663,000 9,643,000 4,980,000 107% 0.6% 17% 18 General and administration 5,877,000 4,501,000 (1,376,000) -23% 0.3% 8% 19 TOTAL OPERATING EXPENSES 45,095,000 55,661,000 10,566,000 23% 3.5% 100% Agenda Page 149
Select CCA Metrics and Comparisons
7 CPA’s metrics for operating expenses and staffing costs compare favorably with industry averages FY2023/24 Budget
(in thousands) CPA (Draft) CCA Avg
MCE (Draft)
FY2023/24
Sonoma (Draft)
FY2023/24
EBCE (Draft)
FY2023/24
3CE
FY2022/23
Total Revenue 1,580,000 604,000 800,000 253,000 935,000 429,000 Total Energy Cost 1,243,000 481,000 666,000 194,000 685,000 378,000 Net Energy Revenue 336,000 123,000 134,000 59,000 249,000 51,000 Staffing 20,072 15,000 19,000 8,000 21,000 9,000
Other Operating Expenses 36,000 36,000 21,000 21,000 73,000 31,000 Total Operating Expenses 56,000 51,000 40,000 29,000 94,000 40,000 Net Income 281,000 72,000 94,000 30,000 155,000 11,000
Staffing (% of…)
Revenue 1.3% 2.5% 2.4% 3.2% 2.2% 2.1%
Cost of Energy 2% 3% 3% 4% 3% 2%
Net Energy Revenue 6% 12% 14% 14% 8% 18%
Total Operating Expenses 36% 29% 48% 28% 22% 23%
Net Income 7% 21% 20% 27% 14% 82%
Total Operating Expenses (% of…)
Revenue 3.5% 8.4% 5.0% 11.5% 10.1% 9.3%
Cost of Energy 5% 11% 6% 15% 14% 11%
Net Energy Revenue 17% 41% 30% 49% 38% 78%
Net Income 20% 71% 43% 97% 61% 364%
Gross Margin 21% 20% 17% 23% 27% 12%
Net Margin 18% 12% 12% 12% 17% 3%
Customer Accounts Served 1,005,000 482,000 581,000 231,000 672,000 444,000 Agenda Page 150
FY 2023/24 Operating Income and Reserves
8 CPA projects $283.3 million increase to the net position in FY 2023/24, increasing the budgeted net position from $225.2 million as of June 30, 2023 to $508.5 million as of June 30, 2024 The budgeted increase in the net position would bring CPA’s reserve percentage to 40% by June 30, 2024 or the mid-point of the target range in CPA’s Reserve Policy. Days Liquidity on Hand would increase to approximately 150 days consistent with the Reserve Policy target – 27 days of this increase would be as a result of the increase to the size of CPA’s line of credit with JPMorgan
A B C D E
FY 2022/23
Amended Budget
FY 2023/24
Budget
Budget
Difference
($)
Budget
Difference
(%)
TOTAL OPERATING EXPENSES 45,095,000 55,661,000 10,566,000 23% OPERATING INCOME 84,234,000 280,524,000 196,290,000 233% NON OPERATING REVENUE (EXPENSE) (246,000) 2,751,000 2,997,000 -1218% CHANGE IN NET POSITION 83,988,000 283,275,000 199,287,000 237% NET POSITION BEGINNING OF PERIOD 141,253,000 225,241,000 83,988,000 59% NET POSITION END OF PERIOD 225,241,000 508,516,000 283,275,000 126%
FISCAL STABILIZATION FUND - - -
RESERVES END OF PERIOD (Net Position + FSF) 225,241,000 508,516,000 283,275,000 126% Agenda Page 151
Reserve Policy Targets
CPA Reserve Policy
“CPA shall grow reserves to maintain a minimum reserve target equal to 30% of total operating budget expenditures, with a goal of increasing the reserve to a maximum reserve target of 50% of total operating budget expenditures. Reserves shall not exceed 60% of total operating budget expenditures. Reserves shall support the goal of securing 120 days liquidity on hand.” 9 A B C D E
Table A FY 2021/22
FY 2022/23
(Projected)
FY 2023/24
(Projected)
A Reserve target % 30% 30% 30%
B Reserve target maximum 50% 50% 50%
C=AxM Reserve target minimum ($) 239,976,000 328,486,000 389,700,000 D=BxM Reserve target maximum 399,960,000 547,476,000 649,500,000 E Net Position 141,253,000 236,317,000 519,592,000
F Fiscal Stabilization Fund - - -
G=E+F Reserves 141,253,000 236,317,000 519,592,000
H=E/M Reserves % 18% 22% 40%
I Unrestricted cash and investments 54,537,672 127,478,403 378,369,000 J Unused bank lines of credit 79,853,000 159,853,000 159,853,000 K=I+J Total Liquidity 134,390,672 287,331,403 538,222,000 L=Kx365/M Days Liquidity on Hand (Goal: 120 Days) 61 96 151 M Annual operating expenses 799,920,707 1,094,952,000 1,298,999,000 • The table above reflects financial projections. CPA currently projects a FY 2022/23 contribution to net position that is approximately $11 million higher than the contribution to the net position appearing in the FY 22/23 amended budget. The projected ending period net position amounts for FY 22/23 and FY 23/24 above are therefore $11m higher than the budgeted ending period net position amounts that appear on the previous slide.
Agenda Page 152
Recommendation:
Approve the Proposed Fiscal Year (FY) 2023/24 Budget
Agenda Page 153
Questions?
Agenda Page 154
FY 2022/23
Amended Budget
FY 2023/24
Budget
Budget
Difference ($)
Budget
Difference
(%)
Revenue ‐ Electricity net 1,182,869,000 1,576,284,000 393,415,000 33% Transfer from Fiscal Stabilization Fund ‐ ‐ Other revenue 2,742,000 3,238,000 496,000 18% TOTAL REVENUE 1,185,611,000 1,579,523,000 393,912,000 33% TOTAL ENERGY COSTS 1,056,282,000 1,243,338,000 187,056,000 18% NET ENERGY REVENUE 129,329,000 336,185,000 206,856,000 160%
OPERATING EXPENSES
Staffing 13,976,000 20,072,000 6,096,000 44% Technical services 1,436,000 1,809,000 373,000 26% Legal services 1,243,000 1,054,000 ‐ (189,000) 15% Other services 1,902,000 1,975,000 73,000 4% Communications and marketing services 2,018,000 2,157,000 139,000 7% Customer notices and mailing services 1,346,000 1,023,000 ‐ (323,000) 24% Billing data management services 10,518,000 11,262,000 744,000 7% Service fees ‐ SCE 2,116,000 2,165,000 49,000 2% Customer programs 4,663,000 9,643,000 4,980,000 107% General and administration 5,877,000 4,501,000 ‐ (1,376,000) 23% TOTAL OPERATING EXPENSES 45,095,000 55,661,000 10,566,000 23% OPERATING INCOME 84,234,000 280,524,000 196,290,000 233% Finance and interest expense 732,000 1,563,000 831,000 114% TOTAL NON OPERATING EXPENSES 732,000 1,563,000 831,000 114% Interest Income 486,000 4,314,000 3,828,000 788% TOTAL NON OPERATING REVENUE 486,000 4,314,000 3,828,000 788% NON OPERATING REVENUE (EXPENSE) (246,000) 2,751,000 2,997,000 ‐1218% CHANGE IN NET POSITION 83,988,000 283,275,000 199,287,000 237% NET POSITION BEGINNING OF PERIOD 141,253,000 225,241,000 83,988,000 59% NET POSITION END OF PERIOD 225,241,000 508,516,000 283,275,000 126% FISCAL STABILIZATION FUND ‐ ‐ ‐ RESERVES END OF PERIOD (Net Position + FSF) 225,241,000 508,516,000 283,275,000 126% Other Uses
Capital Outlay 225,000 378,000 153,000 68% Depreciation & Amortization (622,000) (719,000) (97,000) 16% CHANGE IN FUND BALANCE 84,385,000 283,616,000 199,231,000 236% Note: Funds may not sum precisely due to rounding
CLEAN POWER ALLIANCE of SOUTHERN CALIFORNIA
Fiscal Year 2023/2024 Budget
PROPOSED
Agenda Page 155
Staff Report – Agenda Item 9
To: Board of Directors
From: David McNeil, Chief Financial Officer
Kate Freeman, Financial Strategy and Initiatives Manager Approved By: Ted Bardacke, Chief Executive Officer
Subject: Adopt Resolution No. 23-06-052 Authorizing and Approving Entry into the First Amendment to the Revolving Credit Agreement with JPMorgan Chase Bank, and Delegating Authority to CPA Authorized Representatives to Execute and Deliver Such Amendment and Other Documents Related Thereto
Date: June 1, 2023
RECOMMENDATION
Adopt Resolution No. 23-06-052 authorizing and approving entry into the First Amendment to the CPA’s Revolving Credit Agreement (“Credit Agreement”) with JPMorgan Chase Bank (“JPM”), and delegating authority to CPA authorized representatives to execute and deliver such amendment and other documents related thereto.
SUMMARY OF PROPOSED AMENDMENT
The proposed First Amendment to the Credit Agreement and its Annex A (together “the Amendment”) would increase CPA’s line of credit to $160 million from $80 million, extend the Maturity Date of the Credit Agreement to 03/31/2024 from 10/31/2023, improve certain credit terms, replace the London Interbank Offered Rate (LIBOR) with the Secured Overnight Financing Rate (SOFR) as the benchmark borrowing rate and affect certain other changes of an administrative nature. Attachment 2 to this staff report contains a redline copy of the proposed amended and restated Credit Agreement.
CPA’s Finance Committee discussed the terms of the Amendment at its May 24, 2023, meeting and expressed consensus support for moving forward with the Amendment.
Agenda Page 156
Board of Directors Item 9
BACKGROUND
In September 2021, the Board approved the Credit Agreement with JPM in the amount of $80 million for a two-year term expiring on October 31, 2023. CPA uses a bank credit facility to provide letters of credit and to borrow funds to provide working capital.
Maintaining a credit facility is important to meet the following objectives:
• Provide additional liquidity and support the days liquidity on hand (DLOH) target described in CPA’s Reserve Policy
• Demonstrate financial strength to market participants • Support an eventual investment-grade credit rating
Following discussions with the Executive and Finance Committees in early 2023, staff entered into discussions with JPM about an amendment aimed at providing CPA with additional liquidity to manage power market price spikes, such as those experienced during September 2022 and December 2022 – January 2023, and supporting CPA’s pursuit of an investment-grade credit rating.
The transition from LIBOR to SOFR as a benchmark borrowing rate is strongly encouraged by federal bank regulators overseeing financial institutions such as JPM and JPM has set an internal deadline of June 30, 2023 to transition all borrowing agreements from LIBOR to SOFR. SOFR is widely viewed as a more reliable and accurate benchmark rate.
DISCUSSION
Staff recommends the proposed Amendment for the following reasons:
• $80 million increase in the size of the facility will add 27 days to the DLOH ratio as described in CPA’s Reserve Policy. CPA had 60 DLOH as of March 31, 2023 • The increased size of the credit facility will improve market participants' confidence in CPA’s financial strength
• Improvements to the Material Adverse Change and Material Adverse Effect provisions in the Credit Agreement provide greater assurance that the facility will be available when CPA needs it
• Six-month extension will allow CPA to consider of a future renewal / replacement of the Credit Agreement early next spring
Agenda Page 157
Board of Directors Item 9
FISCAL IMPACT
The proposed Amendment is expected to increase the cost of maintaining the Credit Agreement with JPM to $60,000 per month from the current $30,000 per month. The total additional costs for the Amendment, including doubling the size of the credit line and extending the term from October 31, 2023 to March 31, 2024 is $450,000. Staff estimates legal expenses associated with the Amendment of no more than $26,500. Costs associated with the proposed Amendment are included in the FY 2022/23 and proposed 2023/24 budgets.
ATTACHMENTS
1. Resolution No. 22-06-052
2. First Amendment to Credit Agreement (Redlined)
3. Presentation regarding Proposed Amendment to Banking Agreement
Agenda Page 158
RESOLUTION NO. 23-06-052
RESOLUTION OF THE BOARD OF DIRECTORS OF CLEAN
POWER ALLIANCE OF SOUTHERN CALIFORNIA (CLEAN
POWER ALLIANCE) AUTHORIZING AND APPROVING
CERTAIN AMENDMENTS TO A REVOLVING CREDIT
AGREEMENT WITH JPMORGAN CHASE BANK, N.A. AND
DELEGATING AUTHORITY TO THE CLEAN POWER
ALLIANCE AUTHORIZED REPRESENTATIVES TO EXECUTE
AND DELIVER SUCH AMENDMENTS AND OTHER
DOCUMENTS RELATED THERETO
THE BOARD OF DIRECTORS OF CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA HEREBY RESOLVES AS FOLLOWS:
WHEREAS, Clean Power Alliance of Southern California (formerly known as Los Angeles Community Choice Energy Authority) (“Clean Power Alliance”) was formed on June 27, 2017 under the provisions of the Joint Exercise Powers Act of the State of California, Government Code section 6500 et seq.;
WHEREAS, Clean Power Alliance is duly organized, validly existing, and in good standing under and by virtue of the laws of the State of California, is duly authorized to transact business, having obtained all necessary filings, governmental licenses and approvals in the State of California, and has the full power and authority to own its properties and to transact the business in which it is presently engaged or presently proposes to engage; WHEREAS, Clean Power Alliance maintains an office at 801 S. Grand Ave., Suite 400, Los Angeles, CA 90017, and this is the principal office at which it keeps its books and records;
WHEREAS, the Board wishes to authorize and approve certain amendments to the Revolving Credit Agreement, dated September 22, 2021 (the “JPM Credit Agreement”) between Clean Power Alliance and JPMorgan Chase Bank, N.A. (the “Lender”), and to authorize the Authorized Representatives, specified below, to execute and deliver an amendment to, or amendment and restatement of, the Revolving Credit Agreement attached hereto as Exhibit A (the “Amendment”), with such modifications as the Authorized Representatives shall approve as in the best interest of Clean Power Alliance; NOW, THEREFORE, IT IS HEREBY DETERMINED AND ORDERED AS FOLLOWS:
(1) AUTHORIZED REPRESENTATIVES. The following named individuals are the authorized representatives of Clean Power Alliance with the respective titles specified below (collectively referred to as “Authorized Representatives” and individually referred to as an “Authorized Representative”):
Agenda Page 159
RESO NO. 23-06-052
NAMES TITLES
Julian Gold Chair of the Board
Ted Bardacke Chief Executive Officer
David McNeil Chief Financial Officer
Nancy Whang General Counsel
(2) ACTIONS AUTHORIZED. Any one (1) of the Authorized Representatives are authorized and approved to execute and deliver the Amendment attached hereto as Exhibit A. The Authorized Representatives may approve the definitive form of the Amendment with such other modifications as are in the best interest of Clean Power Alliance, such approval to be conclusively evidenced by the Authorized Representative’s execution and delivery thereof, and the Amendment will bind Clean Power Alliance. The Amendment is hereby incorporated herein by reference.
IT IS HEREBY FURTHER DETERMINED AND ORDERED that the Authorized Representatives are duly elected, appointed, or employed by or for the Clean Power Alliance, as the case may be. This Resolution now stands of record on the books of the Clean Power Alliance, is in full force and effect, and has not been modified or revoked in any manner whatsoever.
IT IS HEREBY FURTHER DETERMINED AND ORDERED that any and all acts authorized pursuant to this Resolution and performed prior to the passage of this Resolution are hereby ratified and approved. This Resolution shall be continuing, shall remain in full force and effect and Lender may rely on it until written notice of its revocation shall have been delivered to and received by Lender at Lender’s address set forth in the Revolving Credit Agreement. Any such notice shall not affect any of the Clean Power Alliance’s agreements or commitments in effect at the time notice is given.
IT IS FURTHER DETERMINED AND ORDERED that this Resolution shall take effect upon its passage.
ADOPTED AND APPROVED this 1st day of June 2023.
Julian Gold, Chair
ATTEST:
Gabriela Monzon, Secretary
Agenda Page 160
RESO NO. 23-06-052
EXHIBIT A
Amendment
[To be attached]
Agenda Page 161
[RR Draft:5/23/23]
1 FIRST AMENDMENT TO CREDIT AGREEMENT
This FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of June [___], 2023, is entered into by and between CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA, a public agency formed under the provisions of the Joint Exercise of Powers Act of the State of California, Government Code Section 6500 et. seq. (the “Borrower”), and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association (the “Lender”).
W I T N E S S E T H
WHEREAS, the Borrower and the Lender have previously entered into that Credit Agreement, dated as of September 22, 2021 (the “Existing Credit Agreement”; capitalized terms used in this Amendment that are defined in the Existing Credit Agreement shall be given the same meaning herein as therein defined); and
WHEREAS, the Borrower and the Lender desire to amend and restate the Existing Credit Agreement as provided herein.
NOW, THEREFORE, in consideration of the foregoing, the premises and mutual covenants contained herein and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1. Amendment and Restatement. Effective upon satisfaction of the conditions precedent set forth in Section 2 below, the Existing Credit Agreement (including the Schedules and Exhibits thereto) is hereby amended and restated in its entirety as set forth in Annex A attached hereto (as so amended, the “Credit Agreement”). As so amended, the Credit Agreement shall continue in full force and effect (subject to the terms and conditions set forth therein as of the Amendment Effective Date (as defined below)).
2. Effectiveness of this Amendment. This Amendment shall become effective as of the first date (the “Amendment Effective Date”) on which each of the following conditions shall be satisfied or waived by the Existing Lenders:
(a) Execution of this Amendment. Each of the Borrower and the Lender shall have executed a copy of this Amendment (whether the same or different copies) and shall have delivered the same to the other party;
(b) No Default; Representations and Warranties. The Lender shall be satisfied that immediately prior to the Amendment Effective Date and after giving effect to this Amendment, (i) there shall exist no Default or Event of Default under the Existing Credit Agreement and (ii) the representations and warranties of Borrower contained in this Amendment are true and correct in all material respects as of the Amendment Effective Date with the same effect as though such representations and warranties had been made on the Amendment Effective Date;
Agenda Page 162
2 (c) Payments. The Lender shall have received all amounts, if any, owing under the Existing Credit Agreement and the Fee Agreement from the Borrower through and including the Amendment Effective Date and the Borrower shall have paid the fees and expenses of counsel to the Lender incurred in connection with the Amendment Documents;
(d) Authority. The Lender shall have received a copy of the resolutions of the governing body of the Borrower approving the execution, delivery and performance of this Amendment and the Credit Agreement (collectively, the “Amendment Documents”), certified by an Authorized Representative or the secretary of the governing body of the Borrower as being true and complete and in full force and effect on the Amendment Effective Date;
(e) Incumbency. The Lender shall have received a certificate, dated the Amendment Effective Date, and executed by an Authorized Representative certifying the names, titles, offices and signatures of the individuals authorized to sign, on behalf of the Borrower, the Amendment Documents to be executed and delivered on the Amendment Effective Date;
(f) Opinion of Counsel. An opinion of counsel to the Borrower, addressed to the Lender and dated the Amendment Effective Date, opining as to the Borrower’s legal existence, power and authority, due execution and delivery of Amendment Documents, enforceability of the Amendment Documents, no conflicts with Law, the Joint Powers Agreement or the bylaws of the Borrower, no consents required in order for the Borrower to execute, deliver and perform the Amendment Documents (other than those that have already been obtained) and such other customary matters as the Lender may reasonably request; and
(g) Borrower’s Closing Certificate. A certificate, dated the Amendment Effective Date, executed by an Authorized Representative certifying (i) that there has been no event or circumstance since June 30, 2022, that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect, (ii) that the representations and warranties contained in Article 4 of the Existing Credit Agreement that are not qualified by concepts of materiality are true and correct in all material respects on the Amendment Effective Date as though made on and as of the Amendment Effective Date, (iii) that the representations and warranties contained in Article 4 of the Existing Credit Agreement that are qualified by concepts of materiality (including Material Adverse Effect) are true and correct in all respects on the Amendment Effective Date as though made on and as of the Amendment Effective Date, and (iv) no event has occurred and is continuing, or would result from entry into Amendment Documents, which would constitute a Default or Event of Default.
3. Ratification of Basic Documents. Except as specifically amended herein, all Basic Documents shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. The Borrower acknowledges and consents to the terms set forth herein and agrees that the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender under any of the Basic Documents, nor Agenda Page 163
3 constitute a waiver of any provision of the Basic Documents or in any way impair, reduce or limit any of the obligations of the Borrower under the Basic Documents, as amended hereby.
This Amendment is a Basic Document.
4. Representations and Warranties. The Borrower hereby makes, as of the Amendment Effective Date, each of the representations and warranties set forth in Article 4 of the Existing Credit Agreement, and such representations and warranties are, by this reference, incorporated herein as if set forth herein in their entirety, provided that references to “Agreement” shall, for purposes of this paragraph, be deemed to include this Amendment.
5. Miscellaneous.
(a) Except as expressly modified by this Amendment, the Existing Credit Agreement shall continue to be and remain in full force and effect in accordance with its terms. (b) This Amendment may be executed in any number of counterparts and by the different parties hereto in different counterparts, each of which shall constitute an original, but all of which when taken together shall constitute a single contract. (c) The Amendment Documents and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to the Amendment Documents and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the Law of (i) the State of California, in the case of the Borrower, and (ii) the State of New York, in the case of the Lender. (d) Delivery of an executed counterpart of a signature page of any Amendment Document by telecopy, emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of such Amendment Document. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any document to be signed in connection with any Amendment Document and the transactions contemplated thereby shall be deemed to include Electronic Signatures (as hereinafter defined in this Section 5(d)), deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state Laws based on the Uniform Electronic Transactions Act. Without limiting the generality of the foregoing, the Borrower hereby (i) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation between the Lender, on the one hand, and the Borrower, on the other hand, electronic images of the Amendment Documents (in each case, including with respect to any signature pages thereto) shall have the same legal effect, validity and enforceability as any paper original, and (ii) waives any argument, defense or right to contest the validity or enforceability of any Amendment Document based solely on the lack of paper original copies of such Amendment Document, including with respect to any signature pages thereto. As used herein, “Electronic Signature” means an electronic sound, symbol, or process attached to, or associated with, a Agenda Page 164
4 contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record.
[Remainder of page intentionally left blank.]
Agenda Page 165
-Signature Page-First Amendment to Credit Agreement
IN WITNESS WHEREOF, the parties hereto, by their officers thereunto duly authorized, have executed and delivered this Agreement, effective as of the day and year first above written.
CLEAN POWER ALLIANCE OF SOUTHERN
CALIFORNIA
By _______________________________________
Name: Theodore Bardacke
Title: Executive Director
Agenda Page 166
-Signature Page-First Amendment to Credit Agreement
JPMORGAN CHASE BANK, NATIONAL
ASSOCIATION
By_______________________________________
Name: Allyson Goetschius
Title: Executive Director
Agenda Page 167
Annex A
Credit Agreement
Agenda Page 168
[EXECUTION COPYRR DRAFT: 5/23/23]
REVOLVING CREDIT AGREEMENT
Dated as of September 22, 20211
by and between
CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA,
as Borrower
and
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
as Lender
1 Amended and Restated as of June __, 2023
Agenda Page 169
-i-TABLE OF CONTENTS [TOC PAGE NUMBERS TO BE UPDATED]
SECTION HEADING PAGE
ARTICLE 1 DEFINITIONS .................................................................................................1 Section 1.1. Definitions..............................................................................................1 Section 1.2. Terms Generally...............................................................................2120 Section 1.3. Accounting Terms; GAAP ...............................................................2221 Section 1.4. Interest Rates; LIBOR Notification .....................................................22 ..............................................................................................................21 ARTICLE 2 THE CREDITS ..........................................................................................2321 Section 2.1. Commitments ................................................................. 23Commitment ..............................................................................................................21 Section 2.2. Loans and Borrowings .....................................................................2322 Section 2.3. Requests for Revolving Borrowings ................................................2322 Section 2.4. Letters of Credit ...............................................................................2422 Section 2.5. Interest Elections ..............................................................................2725 Section 2.6. Termination and Reduction of Commitment ...................................2827 Section 2.7. Repayment of Loans; Evidence of Debt ..........................................2827 Section 2.8. Prepayment of Loans .......................................................................2928 Section 2.9. Fees ..................................................................................................2928 Section 2.10. Interest..............................................................................................2928 Section 2.11. Inability to Determine Rates; Alternate Rate of Interest; Illegality .3129 Section 2.12. Increased Costs ................................................................................3331 Section 2.13. Break Funding Payments .................................................................3432 Section 2.14. Payments Free of Taxes ...................................................................3433 Section 2.15. Payments Generally .........................................................................3534 Section 2.16. Mitigation Obligation.......................................................................3635 Section 2.17. Extension of Maturity Date ..............................................................3635 Section 2.18. Pledge; Security of Obligations .......................................................3635 ARTICLE 3 CONDITIONS ............................................................................................3736 Section 3.1. Conditions Precedent to Effectiveness.............................................3736 Section 3.2. Conditions Precedent to each Credit Event .........................................38 ARTICLE 4 REPRESENTATIONS AND WARRANTIES ....................................................3938 Section 4.1. Organization, Powers, Etc ................................................................3938 Section 4.2. Authorization, Absence of Conflicts, Etc ........................................4039 Section 4.3. Binding Obligations .........................................................................4039 Section 4.4. Governmental Consent or Approval ................................................4039 Section 4.5. Absence of Material Litigation ........................................................4039 Section 4.6. Financial Condition ..........................................................................4139 Section 4.7. Incorporation of Representations and Warranties............................4140 Agenda Page 170
-ii-Section 4.8. Accuracy and Completeness of Information ....................................4140 Section 4.9. No Default ........................................................................................4140 Section 4.10. No Proposed Legal Changes ............................................................4140 Section 4.11. Compliance with Laws, Etc .............................................................4140 Section 4.12. Environmental Matters...................................................... 42[Reserved.] ..............................................................................................................40 Section 4.13. Regulation U ....................................................................................4241 Section 4.14. Liens .................................................................................................4241 Section 4.15. Sovereign Immunity.........................................................................4241 Section 4.16. Usury ................................................................................................4241 Section 4.17. Insurance ..........................................................................................4241 Section 4.18. ERISA ..............................................................................................4241 Section 4.19. Sanctions Concerns and Anti-Corruption Laws ..............................4341 Section 4.20. Secured Debt ....................................................................................4342 ARTICLE 5 COVENANTS ............................................................................................4342 Section 5.1. Affirmative Covenants .....................................................................4342 Section 5.2. Negative Covenants .........................................................................4948 ARTICLE 6 DEFAULTS ...............................................................................................5352 Section 6.1. Events of Default and Remedies ..........................................................53 ..............................................................................................................52 Section 6.2. Remedies ..........................................................................................5554 ARTICLE 7 MISCELLANEOUS ....................................................................................5655 Section 7.1. Amendments, Waivers, Etc ..............................................................5655 Section 7.2. Notices .............................................................................................5655 Section 7.3. Survival of Covenants; Successors and Assigns ..............................5756 Section 7.4. No Recourse Against Members .......................................................5857 Section 7.5. Liability of Lender; Indemnification ...............................................5857 Section 7.6. Expenses ..........................................................................................5958 Section 7.7. No Waiver; Conflict .........................................................................5958 Section 7.8. Modification, Amendment Waiver, Etc ...........................................5958 Section 7.9. Dealings ...............................................................................................59 Section 7.10. Severability ......................................................................................6059 Section 7.11. Counterparts; Integration; Effectiveness; Electronic Execution ......6059 Section 7.12. Table of Contents; Headings ............................................................6160 Section 7.13. Entire Agreement .............................................................................6160 Section 7.14. Governing Law Waiver of Jury Trial...............................................6160 Section 7.15. Government Regulations .................................................................6261 Section 7.16. USA PATRIOT Act .........................................................................6261 Section 7.17. Electronic Transmissions .................................................................6261 Section 7.18. Assignment to Federal Reserve Bank ..................................................62 Section 7.19. Arm’s Length Transaction ...............................................................6362 Agenda Page 171
-iii-Agenda Page 172
-iv-EXHIBITS
Exhibit A — Form of Opinion of Chapman and Cutler LLP
Exhibit B — Form of Compliance Certificate
Exhibit C — Form of Borrowing Request
Exhibit D-1 — Form of Letter of Credit Request
Exhibit D-2 — Form of Continuing Agreement for Commercial and Standby Letters of Credit Exhibit E — Account Control Agreement
Exhibit F — Intercreditor and Collateral Agency Agreement Exhibit G — Security Agreement
Agenda Page 173
1 REVOLVING CREDIT AGREEMENT
THIS REVOLVING CREDIT AGREEMENT, dated as of September 22, 2021 (together with all amendments and supplements hereafter, this “Agreement”) is by and between CLEAN POWER ALLIANCE OF SOUTHERN CALIFORNIA, a public agency formed under the provisions of the Joint Exercise of Powers Act of the State of California, Government Code Section 6500 et. seq. (together with its successors and assigns, “Borrower” or “CPA”), and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (together with its successors and assigns, the “Lender”).
W I T N E S S E T H:
WHEREAS, Borrower has requested, and Lender has agreed to make available to Borrower, a revolving credit facility upon and subject to the terms and conditions set forth in this Agreement; NOW THEREFORE, in consideration of the premises and the mutual agreements herein contained, the Borrower and the Lender agree as follows:
ARTICLE 1
DEFINITIONS
Section 1.1. Definitions. As used in this Agreement:
“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the Alternate Base Rate.
“ABR Term SOFR Determination Day” has the meaning specified in the definition of “Term SOFR”.
“Account Control Agreement” means the Account Control Agreement, dated as of April 16, 2018, entered into by and among by and among (i) River City Bank, a California corporation, (ii) CPA and (iii) River City Bank, a California corporation, not in its individual capacity, but solely as collateral agent, as amended and supplemented in accordance with the terms hereof, a copy of which is attached hereto as Exhibit E.
“Act” means the Joint Exercise of Powers Act of the State of California, Government Code Section 6500 et. seq.
“Adjusted LIBO RateDaily Simple SOFR” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest day, the rate per annum (rounded upwards,equal to (a) Daily Simple SOFR for such calculation plus (b) the SOFR Adjustment; provided, that if necessary,Adjusted Daily Simple SOFR as so determined shall ever be less than the Floor, then Adjusted Daily Simple SOFR shall be deemed to be the next 1/16Floor. “Adjusted Term SOFR” means, for purposes of 1%)any calculation, the rate per annum equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Agenda Page 174
2 RateTerm SOFR for such calculation plus (b) the Term SOFR Adjustment; provided, that if Adjusted Term SOFR as so determined shall ever be less than the Floor, then Adjusted Term SOFR shall be deemed to be the Floor.
“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified.
“Agreement” has the meaning set forth in the introductory paragraph hereof. “Alternate Base Rate” means, for any day, a rate per annum equal to the highest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus 0.50% and (c) Adjusted Term SOFR for a one-month tenor in effect on such day plus 1.00 %., provided that if the Alternate Base Rate as determined pursuant to the foregoing would be less than one percent (1%), such rate shall be deemed to be one percent (1%) for purposes of this Agreement Any change in the Alternate Base Rate due to a change in the Prime Rate, the NYFRB Rate or Adjusted Term SOFR shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB Rate or Adjusted Term SOFR, respectively. “Annual Debt Service” means, as of any date of calculation, for any Fiscal Year or other designated four fiscal quarter period, the sum of (a) all interest and fees (including LC Facility Fees and Undrawn Fees) due and payable on the Loans, other Secured Debt and Unsecured Debt (or, in the case of projected Annual Debt Service, projected to be due and payable) in such Fiscal Year or other designated four fiscal quarter period and (b) the quotient obtained by dividing the average daily outstanding principal balance of the Loans, other Secured Debt and Unsecured Debt during such Fiscal Year or other designated four fiscal quarter period by 5. “Annual Financial Statements” means, with respect to any completed Fiscal Year of the Borrower, the Financial Statements for such Fiscal Year. “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower from time to time concerning or relating to bribery or corruption. “Applicable Law” means (i) all applicable common law and principles of equity and (ii) all applicable provisions of all (A) constitutions, statutes, rules, regulations and orders of all governmental and non-governmental bodies, (B) Governmental Approvals and (C) orders, decisions, judgments and decrees of all courts (whether at law or in equity) and arbitrators. “Applicable Margin” has the meaning set forth in the Fee Agreement. “Authorized Representative” means an “Authorized Representative” as defined in the Resolution, and any other individual designated from time to time as an “Authorized Representative” in a certificate executed by the Borrower and delivered to the Lender. “Availability” means, as of any date of determination, the Commitment minus the Revolving Credit Exposure, in each case as determined on such date.
Agenda Page 175
3 “Availability Period” means the period from and including the Closing Date to but excluding the earlier of the Maturity Date and the date of termination of the Commitment. “Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if such Benchmark is a term rate, any tenor for such Benchmark or payment period for interest calculated with reference to such Benchmark, as applicable,(or component thereof) that is or may be used for determining the length of an interest period pursuant to this Agreement or (y) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to clause (f) of Section
2.11.(f).
“Bank Agreement” means any credit agreement, liquidity agreement, standby bond purchase agreement, reimbursement agreement, direct purchase agreement, bond purchase agreement, or other agreement or instrument (or any amendment, supplement or other modification thereof) under which, directly or indirectly, any Person or Persons undertake(s) to (x) make or provide funds to make payment of, or to purchase or provide credit or liquidity enhancement for, bonds or notes of the Borrower or (y) extend credit to the Borrower. “Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus 0.5% per annum, and (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1.0%; provided that for the purpose of this definition, the Adjusted LIBO Rate for any day shall be based on the LIBO Screen Rate (or if the LIBO Screen Rate is not available for such one month Interest Period, the Interpolated Rate) at approximately 11:00 a.m. London time on such day. Any change in the Base Rate due to a change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB Rate or the LIBO Rate, respectively. If the Base Rate is being used as an alternate rate of interest pursuant to Section 2.11 hereof (for the avoidance of doubt, only until any amendment has become effective pursuant to Section 2.11(b)), then the Base Rate shall be the greater of clause (a) and (b) above and shall be determined without reference to clause (c) above. For the avoidance of doubt, if the Base Rate shall be less than one percent (1.0%), such rate shall be deemed to be one percent (1.0%) for purposes of this Agreement.
“Base Rate Borrowing”, when used in reference to any Loan or Borrowing of a Loan, refers to whether such Loan or Borrowing bears interest at a rate determined by reference to the Base Rate.
“Basic Documents” means, at any time, each of the following documents and agreements as in effect or as outstanding, as the case may be, at such time: (a) this Agreement, including schedules and exhibits hereto, (b) the Fee Agreement, and (c) and any other documents executed and delivered by Borrower in connection with this Agreement or the Fee Agreement, if any. For the avoidance of doubt, PPAs are not Basic Documents.
Agenda Page 176
4 “Benchmark” means, initially, LIBOthe Term SOFR Reference Rate; provided that if a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have has occurred with respect to LIBOthe Term SOFR Reference Rate or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (b) or clause (c) of Section 2.11.(c). “Benchmark Replacement” means, for with respect to any Available TenorBenchmark Transition Event, the first alternative set forth in the order below that can be determined by the Lender for the applicable Benchmark Replacement Date:
(1) the sum of: (a) Term SOFR and (b) the related Benchmark Replacement Adjustment;
(2) the sum of: (a)Adjusted Daily Simple SOFR and; or (b) the related Benchmark Replacement Adjustment;
(3) the sum of: (ai) the alternate benchmark rate that has been selected by the Lender and the Borrower as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (iA) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (iiB) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement forto the then-current Benchmark for Dollar-denominated syndicated credit facilities at such time and (bii) the related Benchmark Replacement Adjustment; provided that, in the case of clause (1),if such Unadjusted Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected by the Lender in its reasonable discretion; provided further that, notwithstanding anything to the contrary in this Agreement or in any other Basic Document, upon the occurrence of a Term SOFR Transition Event, and the delivery of a Term SOFR Notice, on the applicable Benchmark Replacement Date the “Benchmark Replacement” shall revert to and shall be deemed to be the sum of (a) Term SOFR and (b) the related Benchmark Replacement Adjustment, as set forth in clause (1) of this definition (subject to the first proviso above).
If the Benchmark Replacement asso determined pursuant to clause (1), (2) or (3) above would be less than the Floor, thesuch Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Basic Documents. “Benchmark Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:
(1) for purposes of clauses (1) and (2) of the definition of “Benchmark Replacement,” the first alternative set forth in the order below that can be determined by the Lender:
(a) the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or recommended by the Relevant Governmental Body for the replacement of such Benchmark Agenda Page 177
5 with the applicable Unadjusted Benchmark Replacement for the applicable Corresponding Tenor;
(b) the spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be effective upon an index cessation event with respect to such Benchmark for the applicable Corresponding Tenor; and
(2) for purposes of clause (3) of the definition of “Benchmark Replacement,”, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Lender and the Borrower for the applicable Corresponding Tenor giving due consideration to (ia) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date or (iior (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities;.
provided that, in the case of clause (1) above, such adjustment is displayed on a screen or other information service that publishes such Benchmark Replacement Adjustment from time to time as selected by the Lender in its reasonable discretion.
“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Business Day,” the definition of “Interest Period,”U.S. Government Securities Business Day,” the definition of “Interest Period” or any similar or analogous definition (or the addition of a concept of “interest period”), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions,Section 2.13 and other technical, administrative or operational matters) that the Lender decides in its reasonable discretion may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Lender in a manner substantially consistent with market practice (or, if the Lender decides that adoption of any portion of such market practice is not administratively feasible or if the Lender determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Lender decides is reasonably necessary in connection with the administration of this Agreement and the other Basic Documents). “Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:
(1) a) in the case of clause (1a) or (2b) of the definition of “Benchmark Transition Event,””, the later of (ai) the date of the public statement or publication of information referenced therein and (bii) the date on which the administrator of such Agenda Page 178
6 Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); or
(2) b) in the case of clause (3c) of the definition of “Benchmark Transition Event,””, the first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by or on behalf of the publicadministrator of such Benchmark (or such component thereof) or the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be no longer representative; provided, that such non-representativeness will be determined by reference to the most recent statement or publication of information referenced therein;
(3) in the case of a Term SOFR Transition Event, the date that is thirty (30) days after the date a Term SOFR Notice is provided to the Borrower pursuant to Section 2.11(c); or (4) in the casesuch clause (c) and even if any Available Tenor of an Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election issuch Benchmark (or such component thereof) continues to be provided to the Borroweron such date.
For the avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (1a) or (2b) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof). “Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark:
(1) a) a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);
(2) b) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the NYFRB, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Agenda Page 179
7 Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or
(3) c) a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) or the regulatory supervisor for the administrator of such Benchmark (or the publishedsuch component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer, or as of a specified future date will no longer be, representative.
For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof). “Benchmark Transition Start Date” means, in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication). “Benchmark Unavailability Period” means, the period (if any) (xa) beginning at the time that a Benchmark Replacement Date pursuant to clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Basic Document in accordance with Section 2.11 and (yb) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Basic Document in accordance with Section 2.11. “Beneficial Ownership Certification” means a certification regarding beneficial ownership or control as required by the Beneficial Ownership Regulation. “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. “Board” means the Board of Directors of the Borrower.
“Borrower” has the meaning set forth in the introductory paragraph hereof. “Borrowing” means the making, conversion or continuation of a Loan. “Borrowing Request” means a request by the Borrower for a Borrowing in accordance with Section 2.3 and in the form of Exhibit C hereto.
“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City or the City of Los Angeles are authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term Agenda Page 180
8 “Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market.
“Cash and Cash Equivalents” means, as of any date of determination, the Borrower’s cash on hand (other than Restricted Cash and other than borrowing availability under this Agreement), demand deposits and any of the following short-term investments, in each case as of such date: (a) readily marketable obligations issued or directly and fully guaranteed or insured, by the United States of America or any agency or instrumentality thereof having maturities of not more than 360 days from the date of acquisition thereof; provided that the full faith and credit of the United States of America is pledged in support thereof; (b) time deposits with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that (i) is organized under the laws of the United States of America, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company organized under the laws of the United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause (c) of this definition and (iii) has combined capital and surplus of at least $1,000,000,000, in each case with maturities of not more than 90 days from the date of acquisition thereof; (c) commercial paper issued by any Person organized under the laws of any state of the United States of America and rated at least “Prime-1” (or the then equivalent grade) by Moody’s Investors Service, Inc. or at least “A-1” (or the then equivalent grade) by Standard & Poor’s Financial Services LLC, in each case with maturities of not more than 90 days from the date of acquisition thereof; (d) investments, classified in accordance with GAAP as current assets of the Borrower in money market investment programs registered under the Investment Company Act of 1940, which are administered by financial institutions that have the highest rating obtainable from either Moody’s Investors Service, Inc. or Standard & Poor’s Financial Services LLC, and the portfolios of which are limited solely to investments of the character, quality and maturity described in clauses (a), (b) and (c) of this definition; and (e) investments in the Local Agency Investment Fund established pursuant to Section 16429.1 of the California Government Code and maintained by the Treasurer of the State of California.
“Cash Collateral Loan” means a Loan (or a portion of a Loan) the proceeds of which are deposited with a Person other than the Borrower in order to secure the Borrower’s payment obligations under one or more PPAs or to make a termination payment under one or more PPAs. “Change in Law” means the occurrence after the date of this Agreement of (a) the adoption of or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the interpretation or application thereof by any Governmental Authority or (c) compliance by the Lender (or, for purposes of Section 2.12(b), by any lending office of the Lender or its holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date of this Agreement; provided that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Lender for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case Agenda Page 181
9 pursuant to Basel III, shall be deemed to be a “Change in Law,” regardless of the date enacted, adopted or issued.
“Closing Date” means the first date on which the conditions precedent set forth in Section
3.1 hereof are satisfied and/or waived in writing by the Lender. “Code” means the Internal Revenue Code of 1986, as amended from time to time, including regulations, rulings and judicial decisions promulgated thereunder. “Commitment” means the commitment of the Lender to make Loans and to issue Letters of Credit, expressed as an amount representing the maximum aggregate amount of the Lender’s Revolving Credit Exposure hereunder, as such commitment may be reduced from time to time pursuant to Section 2.6. The initial amount of the Commitment is $80160,000,000 . “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.
“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise, “Controlling” and “Controlled” have meanings correlative thereto.
“Corresponding Tenor” with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding business day adjustment) as such Available Tenor. “County of Los Angeles Funding Agreement” means that certain Funding Agreement between the County of Los Angeles and the Clean Power Alliance of Southern California entered into on August 5, 2021.
“Daily Simple SOFR” means, for any day, SOFR, with the conventions for this rate (which may include a lookback) being established by the Lender in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for business loans; provided, that if the Lender decides that any such convention is not administratively feasible for the Lender, then the Lender may establish another convention in its reasonable discretion.
“Daily Simple SOFR” means, for any day (a “SOFR Rate Day”), a rate per annum equal SOFR for the day (such day “SOFR Determination Date”) that is five (5) U.S. Government Securities Business Day prior to (i) if such SOFR Rate Day is a U.S. Government Securities Business Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator’s Website. Any change in Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective date of such change in SOFR without notice to the Borrower.
Agenda Page 182
10 “Days Liquidity on Hand” means, as of any date of determination, the quotient, in number of days, obtained by dividing (i) sum of the Cash and Cash Equivalents and Availability on such date of determination by (ii) the product of (A) the sum of Operating Expenses and Interest Expense for the four consecutive fiscal quarter period ended immediately prior to such date of determination and (B) 1/365.
“Debt” of any Person means, at any date, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (c) all obligations of such Person to pay the deferred purchase price of property or services, except trade accounts payable arising in the ordinary course of business, (d) all obligations of such Person as lessee under capital leases, (e) all debt of others secured by a Lien on any asset of such Person, whether or not such debt is assumed by such Person, (f) all Guarantees by such Person of debt of other Persons, (g) the net obligations of such Person under any Swap Agreement and (h) all obligations of such Person to reimburse or repay any bank or other Person in respect of amounts paid or advanced under a letter of credit, credit agreement, liquidity facility or other instrument. The amount of any net obligation under any Swap Agreement on any date shall be deemed to be the Swap Termination Value thereof as of such date. “Debt Service Coverage Ratio” means, for any fiscal quarter of the Borrower, the quotient obtained by dividing Net Revenues by Annual Debt Service, in each case as determined for the four consecutive fiscal quarter periods ended on the last date of such fiscal quarter. The Debt Service Coverage Ratio shall be tested both on a rolling last four consecutive fiscal quarter basis and on a projected following four consecutive fiscal quarter basis, in each case as of the last day of each fiscal quarter.
“Debt Service Coverage Ratio Notice” has the meaning set forth in Section 5.1(q) hereof. “Default” means any condition or event which with the giving of notice or lapse of time or both would, unless cured or waived, become an Event of Default. “Default Rate” has the meaning set forth in the Fee Agreement. “Direction Letter” has the meaning set forth in the Security Agreement. “dollars” or “$” refers to lawful money of the United States of America. “EEI Master Agreement” means the EEI Master Power Purchase and Sale Agreement, version 2.1 (modified 4/25/00), created by the Edison Electric Institute and National Energy Marketers Association.
“Electronic Signature” means an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record.
“Electronic System” means any electronic system, including e-mail, e-fax, web portal access for the Borrower, and any other Internet or extranet-based site, whether such electronic Agenda Page 183
11 system is owned, operated or hosted by the Lender and any of its respective Related Parties or any other Person, providing for access to data protected by passcodes or other security system. “Electronic Signature” means an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record.
“Employee Plan” means an employee benefit plan covered by Title I of ERISA and maintained for employees of the Borrower.
“Enterprise” means the current operations of the Borrower related to the procurement of electric power for its customers from third parties, trading of energy and other electric power in the normal course of business, wholesale purchases and sales of energy, energy related programs including demand management, transportation and building electrification and energy efficiency, and related services and incentives to its customers, and shall include (i) all contractual rights to distribution, metering and billing services, energy procurement, scheduling and coordination, transmission capacity, and fuel supply of Borrower for the purchase, generation, transmission or distribution of electric power, and (ii) facilities, properties and structures of the Borrower, wherever located. If Borrower acquires electric generating assets or is otherwise engaged in any business in addition to that described in the previous sentence, the term “Enterprise” shall include all associated general plant facilities, works, properties and structures, wherever located and any associated contractual rights not otherwise included in the foregoing sentence. “Environmental Laws” means any and all federal, state and local statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or other governmental restrictions relating to the environment or to emissions, discharges or releases of pollutants, contaminants, petroleum or petroleum products, chemicals or industrial, toxic or hazardous substances or wastes into the environment including, without limitation, ambient air, surface water, ground water or land, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants, petroleum or petroleum products, chemicals or industrial, toxic or hazardous substances or wastes or the clean-up or other remediation thereof. “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, or any successor statute thereto.
“Eurodollar” when used in reference to any Loan or Borrowing of a Loan, refers to whether such Loan, or the Loan comprising such Borrowing, bears interest at a rate determined by reference to the Adjusted LIBO Rate.
“Event of Default” has the meaning set forth in Section 6.1 hereof. “Excluded Taxes” means, with respect to the Lender or any Participant, (a) taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the laws of which the Lender or such Participant is organized or in which its principal office is located Agenda Page 184
12 and (b) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which the Borrower is located.
“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreement entered into pursuant to Section 1471(b)(1) of the Code. “Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions, as determined in such manner as shall set forth on NYFRB’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate, provided that if the Federal Funds Effective Rate as so determined would be less than zero (0.0%), such rate shall be deemed to be zero (0.0%) for the purposes of this Agreement. “Federal Reserve Board” means the Board of Governors of the Federal Reserve System of the United States of America.
“Fee Agreement” means the Fee Agreement of even date herewith between the Borrower and the Lender, as supplemented, amended, restated or otherwise modified from time to time. “Financial Reserve Policy” means the Financial Reserve Policy (CPA 2019-09) of the Borrower, amended as of February 4, 2021, as further amended or modified to the extent permitted hereunder.
“Financial Statements” means, with respect to any completed fiscal period of the Borrower, the statements of net position of the Borrower at the last day of such fiscal period, the statements of revenues, expenses and changes in net position of the Borrower for such fiscal period, and the statements of cash flows of the Borrower for such fiscal period. “Fiscal Stabilization Fund Policy” means the Fiscal Stabilization Fund Policy (CPA 2020- 16) of the Borrower, as of September 3, 2020, as amended or modified to the extent permitted hereunder.
“Fiscal Year” means each twelve-month period commencing on July 1 of a calendar year and ending on June 30 of the following calendar year, or such other twelve month period as may determined by the Board as the Borrower’s fiscal year.
“Floor” means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to LIBO Rate.
“Floor” means a rate of interest equal to 0.00% per annum. “GAAP” means generally accepted accounting principles in the United States of America from time to time as set forth in (a) the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and (b) statements and Agenda Page 185
13 pronouncements of the Government Accounting Standards Board, as modified by the opinions, statements and pronouncements of any similar accounting body of comparable standing having authority over accounting by governmental entities.
“Governmental Approval” means an authorization, consent, approval, license or exemption of, registration or filing with, or report to, any Governmental Authority. “Governmental Authority” means the government of the United States or any political subdivision thereof or any governmental or quasi-governmental entity, including any court, department, commission, board, bureau, agency, administration, central bank, service, district or other instrumentality of any governmental entity or other entity exercising executive, legislative, judicial, taxing, regulatory, fiscal, monetary or administrative powers or functions of or pertaining to government, or any arbitrator, mediator or other Person with authority to bind a party at law. “Guarantees” means, for any Person, all guarantees, endorsements (other than for collection or deposit in the ordinary course of business) and other contingent obligations of such Person to purchase, to provide funds for payment, to supply funds to invest in any other Person or otherwise to assure a creditor of another Person against loss. “Impacted Interest Period” has the meaning assigned to it in the definition of “LIBO Rate.”
“Indemnified Taxes” means (a) Taxes other than Excluded Taxes and (b) to the extent not otherwise described in (a) hereof, Other Taxes.
“Initial Borrowing” means the initial Borrowing, if any, to be made under this Agreement on the Closing Date in the amount specified in the Borrowing Request provided by the Borrower on the Closing Date, the proceeds of which will be applied solely to pay amounts due to RCB under the RCB Credit Agreement as referenced in Section 3.1(i). “Intercreditor and Collateral Agency Agreement” means the Intercreditor and Collateral Agency Agreement, dated as of April 16, 2018, entered into by and among (i) River City Bank, a California corporation, not in its individual capacity, but solely in its capacity as collateral agent, (ii) each of the creditors from time to time signatory thereto that are party to a Power Purchase Agreement (as defined in the Security Agreement), and (iii) CPA, as amended and supplemented in accordance with the terms hereof, a copy of which is attached hereto as Exhibit F. “Interest Election Request” means a request by the Borrower to convert or continue a Revolving Borrowing (other than a Base Ratean ABR Borrowing of a Reimbursement Loan) in accordance with Section 2.5.
“Interest Expense” means, for any period, the sum of (a) all interest, premium payments, debt discount, fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, (b) all interest paid or payable with respect to discontinued operations and (c) the portion of rent expense under capitalized leases that is treated as interest in accordance with GAAP, in each case, of or by the Borrower for such period.
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14 “Interest Payment Date” means, (a) with respect to any Base RateABR Loan, the first Business Day of the month, and (b) with respect to any EurodollarSOFR Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part, and the Maturity Date. “Interest Period” means, with respectas to any Eurodollar Borrowing, the period commencing on the date of such Eurodollar Borrowing and ending on the numerically corresponding day in the calendar month that is one or three months thereafter, as the Borrower may elect (in each case, subject to the availability thereof), as specified in the Borrowing Request or Interest Election Request; provided, that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day and; (ii) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. ; (iii) no Interest Period shall extend beyond the Maturity Date; and (iv) no tenor that has been removed from this definition pursuant to Section 2.11(d) shall be available for specification in the Borrowing Request or Interest Election Request. For purposes hereof, the date of a Borrowing initially shall be the date on which such Loan or Borrowing is made and, in the case of a Revolving Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Loan or Borrowing. “Interpolated Rate” means, at any time, for any Interest Period, the rate per annum (rounded to the same number of decimal places as the LIBO Screen Rate) determined by the Lender (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the LIBO Screen Rate for the longest period for which the LIBO Screen Rate is available that is shorter than the Impacted Interest Period; and (b) the LIBO Screen Rate for the shortest period (for which that LIBO Screen Rate is available that exceeds the Impacted Interest Period, in each case, at such time. “Investment Policy” means the investment guidelines of the Borrower as in effect on the date hereof, as such investment guidelines may be amended from time to time in accordance with State laws.
“ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto. “Joint Powers Agreement” means the Joint Powers Agreement of Borrower effective as of June 27, 2017, and as amended from time to time.
“Law” means any treaty or any Federal, regional, state and local law, statute, rule, ordinance, regulation, code, license, authorization, decision, injunction, interpretation, policy, guideline, supervisory standard, order or decree of any court or other Governmental Authority. “LC Collateral Account” has the meaning set forth in Section 2.4(h).
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15 “LC Disbursement” means a payment made by the Lender pursuant to a Letter of Credit. “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time, plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. “Letter of Credit” means any letter of credit issued pursuant to a Letter of Credit Request provided by Borrower pursuant to this Agreement.
“Letter of Credit Fees” has the meaning set forth in the Fee Agreement. “Letter of Credit Request” means a request by the Borrower for a Letter of Credit in accordance with Section 2.4(a) and in the form of Exhibit D-1 hereto. “Lender” has the meaning set forth in the introductory paragraph hereof. “Liabilities” mean all claims (including intraparty claims), actions, suits, judgments, damages, losses, liability, obligations, responsibilities, fines, penalties, sanctions, costs, fees, Taxes, commissions, charges, disbursements and expenses (including those incurred upon any appeal or in connection with the preparation for and/or response to any subpoena or request for document production relating thereto), in each case of any kind or nature (including interest accrued thereon or as a result thereto and fees, charges and disbursements of financial, legal and other advisors and consultants), whether joint or several, whether or not indirect, contingent, consequential, actual, punitive, treble or otherwise.
“LIBO Rate” means, with respect to any Eurodollar Borrowing for any applicable Interest Period, the LIBO Screen Rate at approximately 11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period; provided that if the LIBO Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”) then the LIBO Rate shall be the Interpolated Rate.
“LIBO Screen Rate” means, for any day and time, with respect to any Eurodollar Borrowing for any Interest Period, the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate, for Dollars for a period equal in length to such Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Lender in its reasonable discretion, provided that if the LIBO Screen Rate as so determined would be less than zero basis points (0.00%), such rate shall be deemed to zero basis points (0.00%) for the purposes of this Agreement. “Lien” means, with respect to any asset, (a) any lien, charge, claim, mortgage, security interest, pledge or assignment of revenues of any kind in respect of such asset or (b) the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such asset.
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16 “Loans” means the loans made by the Lender to the Borrower pursuant to this Agreement, including, without limitation, Cash Collateral Loans, Working Capital Loans and Reimbursement Loans.
“Lockbox Security Document(s)” means, individually or collectively, as applicable, the Security Agreement, the Account Control Agreement, the Intercreditor and Collateral Agency Agreement and the Direction Letter.
“Material Adverse Change” means any material or adverse change in the business, operations, properties, assets, liability, condition (financial or otherwise) or prospects of the Borrower which, in the reasonable determination of the Lender, is reasonably likely to materially adversely affect Borrower’s ability to perform Borrower’s Obligations hereunder. “Material Adverse Effect” means (a) a Material Adverse Change in, or a material adverse effect on, the operations, business, assets, properties, liabilities (actual or contingent), condition (financial or otherwise) or prospects of the Borrower; (b) a material impairment of the rights and remedies of the Lender under this Agreement or any other Basic Document, or of the ability of the Borrower to perform its Obligations under this Agreement, any other Basic Document to which it is a party, or any Lockbox Security Agreement to which the Borrower is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability of Borrower’s Obligations under this Agreement, any other Basic Document to which Borrower is a party, or any Lockbox Security Agreement to which the Borrower is a party. “Material Litigation” shall have the meaning assigned to such term in Section 4.5. “Maturity Date” means the date on which Commitment is scheduled to expire pursuant to its terms, initially 5:00 p.m. (New York time) on October[March 31, 2023,2024], or such later date to which the Maturity Date may be extended pursuant to Section 2.17 and, if any such date is not a Business Day, the next preceding Business Day.
“Maximum Rate” means the maximum non-usurious interest rate that may, under applicable federal law and applicable state law, be contracted for, charged or received under such laws.
“Member” or “Members” means, individually or collectively, as applicable, the public agencies that are, from time to time, party to the Joint Powers Agreement. “Net Revenues” means, for any period and as of any date of determination, the amount obtained by subtracting Operating Costs from Revenues, in each case for such period as of such date. For the avoidance of doubt, “Net Revenues” does not include the “Collateral” (as defined in the Security Agreement).
“NYFRB” means the Federal Reserve Bank of New York.
“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided that if none of Agenda Page 189
17 such rates are published for any day that is a Business Day, the term “NYFRB Rate” means the rate for a federal funds transaction quoted at 11:00 a.m. on such day received by the Lender from a Federal funds broker of recognized standing selected by it; provided, further, that if any of the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.
“NYFRB’s Website” means the website of the NYFRB at http://www.newyorkfed.org, or any successor source.
“Obligations” means all obligations of the Borrower to the Lender or any Participant or the Lender’s or any Participant’s Related Parties arising under or in relation to the Basic Documents, including all unpaid principal of and accrued and unpaid interest on the Loans, all LC Exposure, all accrued and unpaid fees (including, without limitation, the Undrawn Fee and the LC Facility Fees) and all expenses, reimbursements, indemnities and other obligations and indebtedness (including interest and fees accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), obligations and liabilities of the Borrower to the Lender or any indemnified party, individually or collectively, existing on the Effective Date or arising thereafter, direct or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured or unsecured, arising by contract, operation of law or otherwise, arising or incurred under this Agreement or any of the other Basic Documents or in respect of any of the Loans made or reimbursement or other obligations incurred or any of the Letters of Credit or other instruments at any time evidencing any thereof.
“Operating Costs” shall be determined in accordance with the accrual basis of accounting in accordance with GAAP and shall mean the reasonable and necessary costs incurred by Borrower in connection with the operation and maintenance of the Enterprise, including the costs of Product purchased for resale to the Borrower’s customers pursant to a PPA or, if applicable, generated by or from Property of Borrower, costs of transmission, distribution and fuel supply, all reasonable expenses of management and repair and other expenses necessary to maintain and preserve its Properties in good repair and working order, and all administrative costs of Borrower that are charged directly or apportioned to the Enterprise, such as salaries and wages of employees, overhead, insurance, taxes (if any) and insurance premiums, and including all other reasonable and necessary costs of Borrower such as fees and expenses of an independent certified public accountant, and including Borrower’s share of the foregoing types of costs of any electric generating properties co-owned with others, excluding in all cases depreciation, replacement and obsolescence charges or reserves therefor, interest charges including interest on Debt and principal repayment of Debt, amortization of intangibles and extraordinary items computed in accordance with GAAP or other bookkeeping entries of a similar nature, and pass-through charges that are paid to or set aside for payment to third parties and which charges are not included as Revenues of the Enterprise. Operating Costs shall include all amounts required to be paid by Borrower under contracts for the purchase of Product.
“Other Connection Taxes” means, with respect to the Lender, Taxes imposed as a result of a present or former connection between the Lender and the jurisdiction imposing such Tax (other than connections arising from the Lender having executed, delivered, become a party to, Agenda Page 190
18 performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Basic Document, or sold or assigned an interest in any Loan or Basic Document).
“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Basic Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment. “Overnight Lender Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight EurodollarSOFR borrowings by U.S. managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.
“Parity Debt” means any Secured Debt issued or incurred by the Borrower the payment of which and the security therefor is on parity with the Borrower’s payment Obligations and security therefor under this Agreement.
“Participant” has the meaning set forth in Section 7.3(b) hereof. “Participation” has the meaning set forth in Section 7.3(b) hereof. “Periodic Term SOFR Determination Day” has the meaning specified in the definition of “Term SOFR”.
“Person” means an individual, a firm, a corporation, a partnership, a limited liability company, an association, a trust or any other entity or organization, including a government or political subdivision or any agency or instrumentality thereof. “PPA” means an agreement for purchase of Product executed between the Borrower and a PPA Counterparty and includes (i) Power Purchase Agreements (as defined in the Security Agreement, (ii) EEI Master Agreements, and individual transaction confirmations executed under an EEI Master Agreement, and (iii) the WSPP Agreement.
“PPA Counterparty” means a party to a PPA other than the Borrower. “Prime Rate” means the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the Lender) or any similar release by the Federal Reserve Board (as determined by the Lender). Each change in the Prime Rate shall be effective from and including the date such change is publicly announced or quoted as being effective.
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19 “Product” means any of the following: energy, renewable energy and renewable energy attributes, carbon free energy, capacity attributes, resource adequacy benefits, energy storage or any other similar or related products contemplated in the PPAs. “Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible, whether now owned or hereafter acquired. “Reference Time” with respect to any setting of the then-current Benchmark means (1) if such Benchmark is LIBO Rate, 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such setting, and (2) if such Benchmark is not LIBO Rate, the time determined by the Lender in its reasonable discretion.
“Reimbursement Loan” has the meaning assigned to such term in Section 2.4(d). “Reimbursement Obligations” means any and all obligations of the Borrower to reimburse the Lender for LC Disbursements under Letters of Credit and all obligations to repay the Lender for any Loan relating thereto, including in each instance all interest accrued thereon. “Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates.
“Relevant Governmental Body” means the Federal Reserve Board or the NYFRB, or a committee officially endorsed or convened by the Federal Reserve Board or the NYFRB, or any successor thereto.
“Requirement of Law” means, with respect to any Person, (a) the charter, articles or certificate of organization or incorporation and bylaws or operating, management or partnership agreement, or other organizational or governing documents of such Person and (b) any statute, law (including common law), treaty, rule, regulation, code, ordinance, order, decree, writ, judgment, injunction or determination of any arbitrator or court or other Governmental Authority (including Environmental Laws), in each case applicable to or binding upon such Person or any of its property or assets or to which such Person or any of its property is subject. “Reserve” means, with respect to a policy established by the Borrower, the reserve(s) (if any) identified in such policy, and “Reserves” means any and all reserves established by the Borrower pursuant to any and all policies of the Borrower. “Resolution” means Resolution No. 21-04-013, adopted by the Board on September 2, 2021.
“Restricted Cash” means, as of any date of determination, (a) cash and claims to cash that are restricted as to withdrawal or use for other than current operations, that are designated for disbursement in the acquisition or construction of noncurrent assets, or that are segregated for the liquidation of long-term debts; (b) receivables arising from unusual transactions (such as the sale of capital assets) that are not expected to be collected within 12 months; (c) cash surrender value of life insurance policies; (d) land and other natural resources; and (e) depreciable assets.
Agenda Page 192
20 “Revenues” means, for any period, all revenues and charges received and accrued by the Borrower for electric power and energy and other services, facilities and commodities sold, furnished or supplied by Borrower from the Enterprise, together with income, earnings and profits therefrom, as determined in accordance with GAAP, for such period less the Borrower’s bad debt expense for such period.
“Revolving Borrowing” means a Loan hereunder other than a Reimbursement Loan. “Revolving Credit Exposure” means, with respect to the Lender at any time, the sum of the outstanding principal amount of the Loans and its LC Exposure at such time. “RCB” means River City Bank.
“RCB Credit Agreement” means that certain Amended and Restated Credit Agreement dated as of April 5, 2021 between RCB, as lender, and CPA, as borrower. “Sanctioned Country” means, at any time, a country, region or territory which is the subject or target of any Sanctions (at the time of this Agreement, the so-called Donetsk People’s Republic, the so-called Luhansk People’s Republic, the Crimea, Zaporizhzhia and Kherson Regions of Ukraine, Cuba, Iran, North Korea, and Syria). “Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S.
Department of the Treasury, the U.S. Department of State, or by the United Nations Security Council, the European Union, any European Union member state, HerHis Majesty’s Treasury of the United Kingdom or other relevant sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country, (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b), or (d) any Person otherwise the subject of any Sanctions.
“Sanctions” means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union, any European Union member state or HerHis Majesty’s Treasury of the United Kingdom or other relevant sanctions authority.
“SCE Letter of Credit” means that certain irrevocable standby letter of credit number SLCPPDX08099 issued by U.S. Bank National Association in favor of Southern California Edison Company in the initial stated amount of $147,000 and expiring on December 7, 2021. “Secured Debt” means all Debt of the Borrower other than Unsecured Debt. “Security Agreement” means the Security Agreement, dated as of April 16, 2018, entered into by and among CPA, and River City Bank, a California corporation, not in its individual capacity, but solely as collateral agent, for the benefit of each seller of Product (as defined in the Security Agreement) under a Power Purchase Agreement (as defined in the Security Agreement) Agenda Page 193
21 that is made a party to the Intercreditor Agreement, and its respective successors and assigns, as amended and supplemented in accordance with the terms hereof, a copy of which is attached hereto as Exhibit G.
“Senior Debt” means any Debt issued or incurred by the Borrower, whether secured or unsecured, the payment of which is senior to the payment in full in cash of the Borrower’s payment Obligations under this Agreement.
“SOFR” means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the SOFR Administrator on the SOFR Administrator’s Website on the immediately succeeding Business Day. “SOFR Adjustment” means a percentage equal to 0.10% per annum. “SOFR Administrator” means the NYFRB (or a successor administrator of the secured overnight financing rate).
“SOFR Administrator’s Website” means the NYFRB’s Website, currently at http://www.newyorkfed.org, or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time. “SOFR Borrowing” means, as to any Borrowing, the SOFR Loan comprising such Borrowing.
“SOFR Determination Date” has the meaning specified in the definition of “Daily Simple SOFR”.
“SOFR Rate Day” has the meaning specified in the definition of “Daily Simple SOFR”. “SOFR Loan” means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Alternate Base Rate”. “State” means the State of California.
“Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental reserves) established by the Federal Reserve Board to which the Lender is subject with respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D). Such reserve percentage shall include those imposed pursuant to such Regulation D of the Federal Reserve Board. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to the Lender under Regulation D of the Federal Reserve Board or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.
Agenda Page 194
22 “Subordinate Debt” means any unsecured Secured Debt issued or incurred by the Borrower, the payment of which is subordinate to the payment in full in cash of the Borrower’s payment Obligations under this Agreement and the payment in full of all Parity Debt. “Swap Agreement” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.
“Swap Termination Value” means, in respect of any one or more Swap Agreements, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Agreements, (a) for any date on or after the date such Swap Agreements have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Agreements (if such Swap Agreements are required by GAAP to be marked-to-market), as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Agreements (which may include the Lender or any Affiliate of the Lender).
“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), value added taxes, or any other goods and services, use or sales taxes, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. “2020 Audited Financial Statements” means the Annual Financial Statements for the Fiscal Year ended June 30, 2020, together with unqualified audit opinion of Baker Tilly US, LLP. “Term SOFR” means,
(a) for any calculation with respect to a SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term Agenda Page 195
23 SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day; and
“Term SOFR Notice” means a notification by the Lender to the Borrower of the occurrence of a Term SOFR Transition Event.
“Term SOFR Transition Event” means the determination by the Lender that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Lender and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance with Section 2.11 that is not Term SOFR. (b) for any calculation with respect to an ABR Loan on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such day, the “ABR Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to such day, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any ABR Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such ABR Term SOFR Determination Day; provided, further, that if Term SOFR determined as provided above (including pursuant to the proviso under clause (a) or clause (b) above) shall ever be less than the Floor, then Term SOFR shall be deemed to be the Floor.
“Term SOFR Adjustment” means a percentage equal to 0.10% per annum. “Term SOFR Administrator” means the CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Lender in its reasonable discretion).
“Term SOFR Reference Rate” means the rate per annum determined by the Lender as the forward-looking term rate based on SOFR.
“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO RateTerm SOFR or the Alternate Base Rate.
Agenda Page 196
24 “Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment. “Undrawn Fee” has the meaning set forth in the Fee Agreement. “Unsecured Debt” means Debt of the Borrower that is not secured by Net Revenues or any other Property of the Borrower.
“U.S.” and “United States” means the United States of America. “U.S. Government Securities Business Day” means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities. “Working Capital Loan” means any Loan other than a Cash Collateral Loan or a Reimbursement Loan.
“WSPP Agreement” means the WSPP Agreement created by WSPP Inc. and filed with the Federal Energy Regulatory Commission, as revised by the WSPP Inc. from time to time.
Section 1.2. Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”.
The word “will” shall be construed to have the same meaning and effect as the word “shall”.
Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof’hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.
Section 1.3. Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Borrower notifies the Lender that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Lender requests an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately Agenda Page 197
25 before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith.
Section 1.4. Interest Rates; LIBOR Notification. LIBOR is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. On March 5, 2021, the U.K. Financial Conduct Authority (“FCA”) publicly announced that, among other matters: (a) immediately after December 31, 2021, publication of the 1-week and 2-month U.S. Dollar LIBOR settings will permanently cease; immediately after June 30, 2023, publication of the overnight and 12-month U.S. Dollar LIBOR settings will permanently cease; and immediately after June 30, 2023, the 1-month, 3-month and 6-month U.S. Dollar LIBOR settings will cease to be provided or, subject to the FCA’s consideration of the case, be provided on a synthetic basis and no longer be representative of the underlying market and economic reality they are intended to measure and that representativeness will not be restored.
There is no assurance that dates announced by the FCA will not change or that the administrator of LIBOR and/or regulators will not take further action that could impact the availability, composition, or characteristics of LIBOR or the currencies and/or tenors for which LIBOR is published. Each party to this agreement should consult its own advisors to stay informed of any such developments. Public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of LIBOR. Upon the occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, Section 2.11(b) and (c) provide the mechanism for determining an alternative rate of interest. The Lender will promptly notify the Borrower, pursuant to Section 2.11(e), of any change to the reference rate upon which the interest rate on Eurodollar Loans is based. However,. The Lender does not warrant or accept any responsibility for, and shall not have any liability with respect to, (a) the continuation of, administration of, submission of, calculation of or any other matter related to LIBOR or other rates in the definition of “LIBOAlternate Base Rate” or with respect to any alternative or, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR, or any component definition thereof or rates referenced in the definition thereof, or any alternative, successor rate thereto, or replacement rate thereofthereto (including, without limitation, (i) any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate implemented pursuant to Section 2.11(b) or (c), whether upon the occurrence of a (including any Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, and (ii) the implementation of any Benchmark Replacement Conforming Changes pursuant to Section 2.11(d)), including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rateReplacement) will be similar to, or produce the same value or economic equivalence of, the LIBO Rate or have the same volume or liquidity as did the London interbank offered rate , Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or composition of any Benchmark Replacement Conforming Changes. The Lender and its Affiliates or other related entities may engage in transactions that affect the calculation of Alternate Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Lender may select information sources or services in its reasonable discretion to ascertain Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, Term SOFR or any other Benchmark, in each Agenda Page 198
26 case pursuant to the terms of this Agreement, and shall have no liability to the Borrower or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.
ARTICLE 2
THE CREDITS
Section 2.1. Commitment. Subject to the terms and conditions set forth herein, the Lender agrees to make Loans to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result (after giving effect to any application of proceeds of such Borrowing pursuant to Section 2.7) in the Revolving Credit Exposure exceeding the Commitment. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Loans.
Section 2.2. Loans and Borrowings.
(a) Subject to Section 2.4(d), Section 2.5(d) and Section 2.11, at the time of each Borrowing, the Borrower may elect to incur a Loan as a Base Ratean ABR Loan or a EurodollarSOFR Loan.
(b) At the commencement of each Interest Period for any EurodollarSOFR Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000. At the time that each Base RateABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $25,000 and not less than $100,000; provided that a Base Ratean ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the Commitment or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.4(d). Borrowings of more than one Type may be outstanding at the same time; provided that there shall not at any time be more than a total of five (5) EurodollarSOFR Borrowings outstanding.
(c) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.
Section 2.3. Requests for Revolving Borrowings. To request a Borrowing, the Borrower shall notify the Lender of such request by telephone (a) in the case of a EurodollarSOFR Borrowing, not later than 2:00 p.m., New York City time, three (3) U.S. Government Securities Business Days before the date of the proposed Borrowing or (b) in the case of a Base Ratean ABR Borrowing, not later than 2:00 p.m., New York City time, one Business Day before the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by electronic means to the Lender of a written Borrowing Request in a form attached hereto as Exhibit C and signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the information set forth in Exhibit C hereto.
Agenda Page 199
27 If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Base Ratean ABR Borrowing. If no Interest Period is specified with respect to any requested EurodollarSOFR Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Subject to satisfaction of the terms and conditions of Section 3.2, the Lender shall make available to, or for the account of, the Borrower the amount of each Borrowing no later than 2:00 p.m., New York City time, on the date of the applicable Borrowing.
Section 2.4. Letters of Credit.
(a) General. Subject to the terms and conditions set forth herein, the Borrower may request the issuance of Letters of Credit as the applicant thereof in the form of a Letter of Credit Request set forth in Exhibit D-1 hereto at any time and from time to time during the Availability Period; provided, however, that prior to the issuance of the initial Letter of Credit hereunder, the Borrower and the Lender shall execute a Continuing Agreement for Commercial and Standby Letters of Credit in the form of Exhibit D-2 hereto. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Lender relating to any Letter of Credit, the terms and conditions of this Agreement shall control. Notwithstanding anything herein to the contrary, the Lender shall have no obligation hereunder to issue, and shall not issue, any Letter of Credit the proceeds of which would be made available to any Person (i) to fund any activity or business of or with any Sanctioned Person, or in any country or territory that, at the time of such funding, is the subject of any Sanctions or (ii) in any manner that would result in a violation of any Sanctions by any party to this Agreement. (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or fax (or transmit through an Electronic System, if arrangements for doing so have been approved by the Lender) to the Lender (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than five (5) Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Lender, the Borrower also shall submit a letter of credit application on the Lender’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension the Revolving Credit Exposure shall not exceed the Commitment.
The Lender shall not be under any obligation to issue any Letter of Credit if:
(i) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the Lender from issuing such Letter of Credit, Agenda Page 200
28 or any Requirement of Law relating to the Lender or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the Lender shall prohibit, or request that the Lender refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the Lender with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the Lender is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon the Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which the Lender in good faith deems material to it, or
(ii) the issuance of such Letter of Credit would violate one or more policies of the Lender applicable to letters of credit generally.
(c) Expiration Date. Unless otherwise expressly agreed to by the Lender, each Letter of Credit shall expire (or be subject to termination by notice from the Lender to the beneficiary thereof) at or prior to the close of business on the date that is five (5) Business Days prior to the Maturity Date.
(d) Reimbursement. If the Lender shall make any LC Disbursement in respect of a Letter of Credit, the Borrower shall reimburse such LC Disbursement by paying to the Lender an amount equal to such LC Disbursement not later than 11:00 a.m., New York City time, on the date that such LC Disbursement is made, if the Borrower shall have received notice of such LC Disbursement prior to 9:00 a.m., New York City time, on such date, or, if such notice has not been received by the Borrower prior to such time on such date, then not later than 11:00 a.m., New York City time, on the Business Day immediately following the day that the Borrower receives such notice, if such notice is not received prior to such time on the day of receipt; provided that, if such LC Disbursement is not less than $100,000, and no Default or Event of Default shall have occurred, the Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with Section 2.3 that such payment be financed with a Base Ratean ABR Borrowing in an equivalent amount and, to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting Base RateABR Borrowing (such Base RateABR Borrowing, a “Reimbursement Loan”).
(e) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in paragraph (d) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or any other Basic Document, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Lender under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder. Neither the Lender nor any of its Related Parties, shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit, Agenda Page 201
29 any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms, any error in translation or any consequence arising from causes beyond the control of the Lender; provided that the foregoing shall not be construed to excuse the Lender from liability to the Borrower to the extent of any direct damages (as opposed to special, indirect, consequential or punitive damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by Applicable Law) suffered by the Borrower that are caused by the Lender’s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the Lender (as finally determined by a court of competent jurisdiction), the Lender shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Lender may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit.
(f) Disbursement Procedures. The Lender shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Lender shall promptly after such examination notify the Borrower by telephone (confirmed by fax or through an Electronic System) of such demand for payment if the Lender has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Lender with respect to any such LC Disbursement.
(g) Interim Interest. If the Lender shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the reimbursement is due and payable at the rate per annum set forth in Section 2.10(d) for Base RateABR Loans and such interest shall be due and payable on the date when such reimbursement is payable. (h) Cash Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that the Borrower receives notice from the Lender demanding the deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in an account with the Lender, in the name and for the benefit of the Lender (the “LC Collateral Account”), an amount in cash equal to 105% of the amount of the LC Exposure as of such date plus accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in Section 6.01(e) or Section 6.01(f) hereof. The Lender shall have exclusive dominion and control, including the exclusive right of withdrawal, over the LC Collateral Account and the Borrower Agenda Page 202
30 hereby grants the Lender a security interest in the LC Collateral Account and all moneys or other assets on deposit therein or credited thereto. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Lender and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Lender for LC Disbursements for which it has not been reimbursed, together with related fees, costs, and customary processing charges, and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated, be applied to satisfy other Obligations. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after all such Events of Default have been cured or waived as confirmed in writing by the Lender.
Section 2.5. Interest Elections.
(a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a EurodollarSOFR Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing (other than a Base Ratean ABR Borrowing of a Reimbursement Loan) to a different Type or to continue such Borrowing and, in the case of a EurodollarSOFR Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing (other than a Base Ratean ABR Borrowing of a Reimbursement Loan) and the Loan comprising each such portion shall be considered a separate Borrowing.
(b) To make an election pursuant to this Section, the Borrower shall notify the Lender of such election by telephone by the time that a Borrowing Request would be required under Section 2.3 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by electronic copy to the Lender of a written Interest Election Request in a form approved by the Lender and signed by the Borrower. (c) Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.2:
(i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);
(ii) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;
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31 (iii) whether the resulting Borrowing is to be a Base Ratean ABR Borrowing or a EurodollarSOFR Borrowing; and
(iv) if the resulting Borrowing is a EurodollarSOFR Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”.
If any such Interest Election Request requests a EurodollarSOFR Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
(d) If the Borrower fails to deliver a timely Interest Election Request with respect to a EurodollarSOFR Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to a Base Ratean ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Lender so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a EurodollarSOFR Borrowing and (ii) unless repaid, each EurodollarSOFR Borrowing shall be converted to a Base Ratean ABR Borrowing at the end of the Interest Period applicable thereto; provided, however, that the actions specified in clauses (i) and (ii) immediately above shall apply automatically without notice from the Lender if the Event of Default that has occurred and is continuing is an Event of Default described in Section 6.1(e) or Section 6.1(f).
Section 2.6. Termination and Reduction of Commitment.
(a) Unless previously terminated, the Commitment shall terminate automatically on the Maturity Date.
(b) Subject to the provisions of the Fee Agreement, the Borrower may at any time terminate, or from time to time reduce, the Commitment; provided that (i) each reduction of the Commitment shall be in an amount that is an integral multiple of $100,000 and not less than $500,000 and (ii) the Borrower shall not terminate or reduce the Commitment if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.8, the Revolving Credit Exposure would exceed the Commitment.
(c) The Borrower shall notify the Lender of any election to terminate or reduce the Commitments under paragraph (b) of this Section at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitment delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Lender on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitment shall be permanent.
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32 Section 2.7. Repayment of Loans; Evidence of Debt.
(a) The Borrower hereby unconditionally promises to pay to the Lender the then unpaid principal amount of each Loan on the Maturity Date.
(b) The Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to the Lender resulting from each Loan made by the Lender, the Type of each Loan and the Interest Period, if any, applicable thereto and the amounts of principal and interest payable and paid to the Lender from time to time hereunder.
The entries made in such account or accounts shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of the Lender to maintain such account or accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. (c) The Lender may request that Loans made by it be evidenced by a promissory note.
In such event, the Borrower shall prepare, execute and deliver to the Lender a promissory note payable to the Lender and in a form approved by the Lender. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 7.3) be represented by one or more promissory notes in such form.
Section 2.8. Prepayment of Loans.
(a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section and in accordance with any amounts due and owing pursuant to Section 2.13 of this Agreement.
(b) The Borrower shall notify the Lender by telephone (confirmed by fax) or through Electronic System, if arrangements for doing so have been approved by the Lender, of any prepayment hereunder (i) in the case of prepayment of a EurodollarSOFR Borrowing, not later than 10:00 a.m., New York City time, three U.S. Government Securities Business Days before the date of prepayment, or (ii) in the case of prepayment of a Base Ratean ABR Borrowing, not later than 10:00 a.m., New York City time, one Business Day before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.6, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.6. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.2. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.10.
(c) If at any time the Revolving Credit Exposure exceeds the Commitment, the Borrower agrees to prepay immediately, upon notice from the Lender, Loans and/or deliver to the Agenda Page 205
33 Lender cash (to be held by the Lender as collateral to secure the Obligations) in an aggregate amount equal to such excess.
Section 2.9. Fees. The Borrower agrees to pay to the Lender the fees and other amounts set forth in the Fee Agreement at the time and in the manner set forth in the Fee Agreement, including, but not limited to, the Undrawn Fee and the Letter of Credit Fees. The Fee Agreement is, by this reference, incorporated herein in its entirety as if set forth herein in full. All fees and other amounts payable under the Fee Agreement shall be paid in immediately available funds.
Fees paid shall not be refundable under any circumstances.
Section 2.10. Interest.
(a) The Loans comprising each Base RateABR Borrowing (other than Reimbursement Loans) shall bear interest at the Alternate Base Rate plus the Applicable Margin. (b) The Loans comprising each EurodollarSOFR Borrowing shall bear interest at the Adjusted LIBOSOFR Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin.
(c) The Reimbursement Loans shall bear interest at the Alternate Base Rate plus the Applicable Margin.
(d) Upon the occurrence and continuance of an Event of Default hereunder, the Default Rate shall apply to all Loans. Interest accruing at the Default Rate shall be payable on demand of the Lender. Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder or under the Fee Agreement is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to the Default Rate. (e) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and upon termination of the Commitment; provided that (i) interest accrued pursuant to paragraph (d) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of a Base Ratean ABR Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any EurodollarSOFR Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. (f) All interest hereunder shall be computed on the basis of a year of 360 days and the actual number of days elapsed, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 or 366 days, as applicable, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO RateTerm SOFR, Adjusted Daily Simple SOFR or LIBO RateDaily Simple SOFR shall be determined by the Lender, and such determination shall be conclusive absent manifest error.
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34 (g) Anything herein to the contrary notwithstanding, the amount of interest payable hereunder for any interest period shall not exceed the Maximum Rate. If for any interest period the applicable interest rate would exceed the Maximum Rate, then (i) such interest rate will not exceed but will be capped at such Maximum Rate and (ii) in any interest period thereafter that the applicable interest rate is less than the Maximum Rate, any Obligation hereunder will bear interest at the Maximum Rate until the earlier of (x) payment to the Lender of an amount equal to the amount which would have accrued but for the limitation set forth in this Section and (y) the Maturity Date. Upon the Maturity Date or, if no Revolving Credit Exposure is outstanding, on the date the Commitment is permanently terminated, in consideration for the limitation of the rate of interest otherwise payable hereunder, to the extent permitted by Applicable Law, the Borrower shall pay to the Lender a fee in an amount equal to the amount which would have accrued but for the limitation set forth in this Section 2.10(g) that has not previously been paid to the Lender in accordance with the immediately preceding sentence.
Section 2.11. Inability to Determine Rates; Alternate Rate of Interest; Illegality. (a) Subject to clauses (b), (c), (d), (e), (f) and) through (g) of this Section 2.11, if prior to the commencement of any Interest Period for a EurodollarSOFR Borrowing:
(i) the Lender determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable (including because the LIBO Screen Rate is not available or published on a current basis), for such Interest Period; provided that no Benchmark Transition Event shall have occurred at such timeAdjusted Term SOFR for such Interest Period; or
(ii) the Lender determines that the Adjusted LIBO Rate or the LIBO Rate, as applicable,Term SOFR for such Interest Period will not adequately and fairly reflect the cost to the Lender of making or maintaining its Loans included in such Borrowing for such Interest Period;
then the Lender shall give notice thereof to the Borrower by telephone, telecopy or electronic mail as promptly as practicable thereafter and, until the Lender notifies the Borrower that the circumstances giving rise to such notice no longer exist, (A) any Interest Election Request that requests the conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as, a EurodollarSOFR Borrowing shall be ineffective, and (B) if any Borrowing Request requests a Eurodollar RevolvingSOFR Borrowing, such Borrowing shall be made as an Base RateABR Borrowing.
(b)(b) Subject to clauses (c) through (g) of this Section 2.11, if on or prior to the commencement of any Interest Period for a SOFR Borrowing, the Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for the Lender or its applicable lending office to make, maintain or fund Loans whose interest is determined by reference to SOFR, Adjusted Daily Simple SOFR, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR, or to determine or charge interest rates based upon SOFR, Adjusted Daily Simple SOFR, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR, then, upon notice thereof by the Lender to the Borrower, (a) any obligation of the Lender Agenda Page 207
35 to make SOFR Loans, and any right of the Borrower to continue SOFR Loans or to convert ABR Loans to SOFR Loans, shall be suspended, and (b) the interest rate on which ABR Loans shall, if necessary to avoid such illegality, be determined by the Lender without reference to clause (c) of the definition of “Alternate Base Rate”, in each case until the Lender notifies the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (i) the Borrower shall, if necessary to avoid such illegality, upon demand from the Lender, prepay or, if applicable, convert all SOFR Loans to ABR Loans (the interest rate on which ABR Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Lender without reference to clause (c) of the definition of “Alternate Base Rate”), on the last day of the Interest Period therefor, if the Lender may lawfully continue to maintain such SOFR Loans to such day, or immediately, if the Lender may not lawfully continue to maintain such SOFR Loans to such day, and (ii) if necessary to avoid such illegality, the Lender shall during the period of such suspension compute the ABR without reference to clause (c) of the definition of “Alternate Base Rate” until it is no longer illegal for the Lender to determine or charge interest rates based upon SOFR, Adjusted Daily Simple SOFR, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR. Upon any such prepayment or conversion, the Borrower shall also pay any additional amounts required pursuant to Section 2.13.
(c) Notwithstanding anything to the contrary herein or in any other Basic Document, if a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause (1) or (2a) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Basic Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Basic Document and (y) if a Benchmark Replacement is determined in accordance with clause (3b) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any BasicLoan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the Business Day following the dateagreed to by the Lender and the Borrower reach agreement on such replacement . If the Benchmark Replacement without any amendment to, or further action or consent of any other party to, this Agreement or any other Basic Documentis Adjusted Daily Simple SOFR, all interest payments will be payable on a monthly basis.
(c) Notwithstanding anything to the contrary herein or in any other Basic Document and subject to the proviso below in this paragraph, if a Term SOFR Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then the applicable Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder or under any Basic Document in respect of such Benchmark setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, this Agreement or any other Basic Document; provided that, this clause (c) shall not be effective unless the Lender has delivered to the Borrower a Term SOFR Notice. For the avoidance of doubt, the Lender shall not be required to deliver a Term SOFR Notice after a Term SOFR Transition Event and may do so in its sole discretion.
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36 (d) In connection with the implementation of a Benchmark Replacement, the Lender will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Basic Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Basic Document. (e) The Lender will promptly notify the Borrower of (i) any occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable, (ii) the the implementation of any Benchmark Replacement, (iiiii) the effectiveness of any Benchmark Replacement Conforming Changes, (iviii) the removal or reinstatement of any tenor of a Benchmark pursuant to clause (df) below and (viv) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Lender pursuant to this Section 2.11, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Basic Document, except, in each case, as expressly required pursuant to this Section 2.11.
(f) Notwithstanding anything to the contrary herein or in any other Basic Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR or LIBOReference Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Lender in its reasonable discretion or (B) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the Lender may modify the definition of “Interest Period” (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark Replacement), then the Lender may modify the definition of “Interest Period” (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.
(g) Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a EurodollarSOFR Borrowing of, conversion to or continuation of EurodollarSOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base RateABR Loans. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.
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37 Section 2.12. Increased Costs.
(a) If any Change in Law shall:
(i) impose, modify or deem applicable any reserve, special deposit, liquidity or similar requirement (including any compulsory loan requirement, insurance charge or other assessment) against assets of, deposits with or for the account of, or credit extended by, the Lender (except any such reserve requirement reflected in the Adjusted LIBO RateTerm SOFR); or
(ii) impose on the Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by the Lender or any Letter of Credit or participation therein; or
(iii) subject the Lender to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; and the result of any of the foregoing shall be to increase the cost to the Lender of making, continuing, converting into or maintaining any Loan (or of maintaining its obligation to make any such Loan) or to increase the cost to the Lender of issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by the Lender hereunder (whether of principal, interest or otherwise), then the Borrower will pay to the Lender such additional amount or amounts as will compensate the Lender for such additional costs incurred or reduction suffered. (b) If the Lender determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on the Lender’s capital or on the capital of the Lender’s holding company, as a consequence of this Agreement, the Commitment of or the Loans made by, or the Letters of Credit issued by, the Lender, to a level below that which the Lender or the Lender’s holding company could have achieved but for such Change in Law (taking into consideration the Lender’s policies and the policies of the Lender’s holding company with respect to capital adequacy and liquidity), then from time to time the Borrower will pay to the Lender such additional amount or amounts as will compensate the Lender or the Lender’s holding company for any such reduction suffered. (c) A certificate of the Lender setting forth the amount or amounts necessary to compensate the Lender or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay the Lender or its holding company, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof. (d) Failure or delay on the part of the Lender to demand compensation pursuant to this Section shall not constitute a waiver of the Lender’s right to demand such compensation; provided that the Borrower shall not be required to compensate the Lender pursuant to this Section for any increased costs or reductions incurred more than 270 days prior to the date that the Lender notifies Agenda Page 210
38 the Borrower of the Change in Law giving rise to such increased costs or reductions and of the Lender’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to above shall be extended to include the period of retroactive effect thereof.
Section 2.13. Break Funding Payments. In the event of (a) the payment of any principal of any EurodollarSOFR Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default or any prepayment pursuant to Section 2.8 hereof or Section 2.11 hereof), (b) the conversion of any EurodollarSOFR Loan other than on the last day of the Interest Period applicable thereto or (c) the failure to borrow, convert, continue or prepay any EurodollarSOFR Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.8(b) and is revoked in accordance therewith), then, in any such event, the Borrower shall compensate the Lender for the loss, cost and expense attributable to such event. In the case of a EurodollarSOFR Loan, such loss, cost or expense to the Lender shall be deemed to include an amount determined by the Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO RateTerm SOFR that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which the Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the eurodollar market. A certificate of the Lender setting forth any amount or amounts that the Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay the Lender the amount shown as due on any such certificate within ten (10) days after receipt thereof.
Section 2.14. Payments Free of Taxes.
(a) Any and all payments by or on account of any obligation of the Borrower under any Basic Document shall be made without deduction or withholding for any Taxes, except as required by Applicable Law. If any Applicable Law (as determined in the good faith discretion of the Borrower) requires the deduction or withholding of any Tax from any such payment by the Borrower, then the Borrower shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with Applicable Law and, if such Tax is an Indemnified Tax, then the sum payable by the Borrower shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 2.14) the Lender receives an amount equal to the sum it would have received had no such deduction or withholding been made.
(b) The Borrower shall timely pay to the relevant Governmental Authority in accordance with Applicable Law, or at the option of the Lender timely reimburse the Lender for, Other Taxes.
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39 (c) As soon as practicable after any payment of Taxes by the Borrower to a Governmental Authority pursuant to this Section 2.14, the Borrower shall deliver to the Lender the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Lender.
(d) The Borrower shall indemnify the Lender, within 10 days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by the Lender or required to be withheld or deducted from a payment to the Lender and any reasonable expenses actually incurred arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by the Lender shall be conclusive absent manifest error.
(e) If the Lender determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.14 (including by the payment of additional amounts pursuant to this Section 2.14), it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made under this Section 2.14 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of the Lender reasonably and actually incurred and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund).
The Borrower, upon the request of the Lender, shall repay to the Lender the amount paid over pursuant to this paragraph (e) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that the Lender is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (e), in no event will the Lender be required to pay any amount to the Borrower pursuant to this paragraph (e) the payment of which would place the Lender in a less favorable net after-Tax position than the Lender would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require the Lender to make available its Tax returns (or any other information relating to its Taxes that it deems confidential in its sole discretion) to the Borrower or any other Person. (f) Each party’s obligations under this Section 2.14 shall survive any assignment of rights by the Lender, the termination of the Commitment and the repayment, satisfaction or discharge of all obligations under any Basic Document.
(g) For purposes of this Section 2.14, the term “Applicable Law” includes FATCA.
Section 2.15. Payments Generally.
(a) The Lender shall calculate and use commercially reasonable efforts to notify the Borrower in writing not less than ten (10) Business Days before the due date of the amounts payable by the Borrower hereunder; provided, however, that the failure of the Bank to provide such notice or provide such notice on a timely basis shall not affect the obligation of the Borrower Agenda Page 212
40 to make any payments owed to the Lender hereunder when due. The Borrower shall make each payment required to be made by it hereunder or under the Fee Agreement (whether of principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section 2.12,
2.13 or 2.14, or otherwise) prior to 5:00 p.m., New York City time, on the date when due, in immediately available funds, without set off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Lender, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Lender at its offices at 270 Park Avenue, New York, New York, except that payments pursuant to Sections 2.12, 2.13, 2.14 and 7.5 shall be made directly to the Persons entitled thereto.
If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in dollars.
(b) If at any time insufficient funds are received by and available to the Lender to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, and (ii) second, ratably towards payment of principal and unreimbursed LC Disbursements then due hereunder.
Section 2.16. Mitigation Obligation. If the Lender requests compensation under Section
2.12, or if the Borrower is required to pay any Indemnified Taxes or additional amounts to the Lender or any Governmental Authority for the account of the Lender pursuant to Section 2.14, then the Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of the Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Sections 2.12 or 2.14, as the case may be, in the future and (ii) would not subject the Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to the Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by the Lender in connection with any such designation or assignment.
Section 2.17. Extension of Maturity Date. The Maturity Date may be extended an unlimited number of times, in each case in the manner set forth in this Section 2.17. Upon receipt of written request of the Borrower to extend the Maturity Date, received no more than one hundred ninety (90) days and no less than sixty (60) days prior to the then current Maturity Date, the Lender will use its commercially reasonable efforts to notify the Borrower of its response within thirty (30) days of receipt of the request therefor (the Lender’s decision to be made in its sole and absolute discretion and on such terms and conditions as to which the Lender and the Borrower may agree); provided, however, that the failure of the Borrower to receive a written confirmation from the Lender within the time established therefor shall be deemed a denial of such request. Any extension of the Maturity Date will be deemed to be on the existing terms of this Agreement unless the Lender and the Borrower have entered into a written agreement confirming a change in any term of this Agreement.
Section 2.18. Pledge; Security of Obligations. The Net Revenues are hereby pledged by the Borrower to the payment of the Obligations without priority or distinction of one Obligation Agenda Page 213
41 over another Obligation. The pledge of Net Revenues is valid and binding in accordance with the terms of the Act, the Joint Powers Agreement and the Resolution, and the Net Revenues shall immediately be subject to the pledge, and the pledge shall constitute a lien and security interest which shall immediately attach to the Net Revenues and be effective, binding, and enforceable against the Borrower, its successors, creditors, and all others asserting the rights therein, to the extent set forth in this Agreement, and in accordance with the Act, the Joint Powers Agreement and the Resolution, irrespective of whether those parties have notice of the pledge and without the need for any physical delivery, recordation, filing, or further act. The pledge of the Net Revenues herein made shall be irrevocable until the Commitment has expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full in cash and all Letters of Credit shall have expired or terminated, in each case, without any pending draw, and all LC Disbursements shall have been reimbursed. Notwithstanding any other provision of this Agreement to the contrary, all Obligations are limited obligations of the Borrower payable solely from Net Revenues. The pledge of the Net Revenues herein made shall be senior to any pledge of the Net Revenues made with respect to any Subordinate Debt.
ARTICLE 3
CONDITIONS
Section 3.1. Conditions Precedent to Effectiveness. The obligation of the Lender to make Loans and to issue Letters of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied:
(a) Opinions. The Lender has received an opinion of Chapman & Cutler LLP, special counsel to the Borrower, dated the Closing Date and addressed to the Lender in the form attached hereto as Exhibit A.
(b) Documents. The Lender has received (i) executed copies of the Basic Documents and the Lockbox Security Documents executed by the Borrower on the Closing Date or prior to the Closing Date if certified by the Secretary of the Borrower, the Clerk of the Board or any Authorized Representative, as applicable, as being complete and in full force and effect on and as of the Closing Date, and (ii) a certified copy of the Joint Powers Agreement.
(c) Defaults; Representations and Warranties. On and as of the Closing Date, (i) no Default or Event of Default has occurred and is continuing or would result from the execution and delivery of this Agreement and the Fee Agreement, and (ii) the representations of the Borrower set forth in Article 4 hereof (A) that are not qualified by concepts of materiality are true and correct in all material respects on and as of the Closing Date with the same force and effect as if made on and as of such date, and (B) that are qualified by concepts of materiality are true and correct in all respects on and as of the Closing Date with the same force and effect as if made on and as of such date. (d) No Litigation. No action, suit, investigation or proceeding is pending or, to the knowledge of the Borrower, threatened (i) in connection with the Basic Documents, the Lockbox Security Documents or any transactions contemplated thereby or (ii) against or Agenda Page 214
42 affecting the Borrower, the result of which could reasonably be expected to have a Material Adverse Effect.
(e) No Material Adverse Change. Since the date of the 20202022 Audited Financial Statements, (i) no Material Adverse Change has occurred and (ii) to the best of its knowledge, no law, regulation, ruling or other action (or interpretation or administration thereof) of the United States, the State of California or any political subdivision or authority therein or thereof is in effect or has occurred, the effect of which would be to prevent the Lender from fulfilling its obligations under this Agreement or the Letters of Credit. (f) Certificate. The Lender has received (i) certified copies of all proceedings of the Borrower authorizing the execution, delivery and performance of the Basic Documents and the transactions contemplated thereby and (ii) a certificate or certificates of one or more Authorized Representatives dated the Closing Date certifying the accuracy of the statements made in Section 3.1(c), (d), (e) and (i) hereof and further certifying the name, incumbency and signature of each individual authorized to sign this Agreement, the Fee Agreement and the other documents or certificates to be delivered by the Borrower pursuant hereto or thereto, on which certification the Lender may conclusively rely until a revised certificate is similarly delivered, and that the conditions precedent set forth in this Section 3.1 have been satisfied.
(g) Payment of Fees. The Lender has received all fees and expenses due and payable to the Lender and/or its legal counsel pursuant to the Fee Agreement. (h) Financial Statements. The Lender has received the 2020 Audited Financial Statements, internally prepared quarterly budget reports of the Borrower for the most recent fiscal quarter end for which quarterly budget reports are available, if not previously provided.
(i) Repayment and RCB Debt Termination of RCB Credit Agreement. The Lender shall have received a payoff letter from RCB to the effect that, upon application of the Initial Borrowing hereunder and receipt from the Borrower of cash in an amount sufficient to cash collateralize the Borrower’s reimbursement obligations to RCB in respect of the SCE Letter of Credit, (i) all Debt in favor of RCB (if any) that is outstanding on the Closing Date under the RCB Credit Agreement will have been paid in full in immediately available funds; (ii) any commitment by RCB to provide future advances to, or to issue letters of credit on behalf of, the Borrower under the RCB Credit Agreement has been terminated in full as of the Closing Date; (iii) all fees and other amounts owing to RCB through the Closing Date under the RCB Credit Agreement and related documents have been paid in full in immediately available funds; (iv) all Liens in favor of RCB over Property of the Borrower (other than the aforementioned cash collateral) that secure Debt under the RCB Credit Agreement and related documents (which for the avoidance of doubt does not include the Collateral described in the Security Agreement) will be released (or provision for such release will be irrevocably made); and (v) all documents evidencing Debt under the RCB Credit Agreement and related documents will be terminated (other than those provisions set forth therein that expressly survive termination).
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43 (j) Other Matters. The Lender has received such other statements, certificates, agreements, documents and information with respect to the Borrower and matters contemplated by the Basic Documents and the Lockbox Security Documents as the Lender may have requested.
The execution and delivery of this Agreement by the Lender signifies its satisfaction with the conditions precedent set forth in this Section 3.1.
Section 3.2. Conditions Precedent to each Credit Event. The obligation of the Lender to make a Loan on the occasion of any Borrowing, and of the Lender to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following conditions:
(a) Solely with respect to the issuance of the initial Loan or Letter of Credit hereunder, that the Borrower shall have filed the necessary notices and filings with, and provided for payment of any fee related thereto to, the California Debt Issuance Advisory Commission.
(b) The representations and warranties of the Borrower set forth in this Agreement (other than the representations set forth in Section 4.9 but solely as they relate to Section 6.1(m)) (i) that are not qualified by concepts of materiality are true and correct in all material respects on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable, with the same force and effect as if made on and as of such date, and (ii) that are qualified by concepts of materiality are true and correct in all respects on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable, with the same force and effect as if made on and as of such date. (c(c) The Borrower shall represent that there has not occurred any event or any series of events that has had or is reasonably likely to have or to cause (in each case both prior to the execution and delivery of this Agreement and the Fee Agreement and/or resulting therefrom) a Material Adverse Change.
(d) At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no Default or Event of Default (other than any Event of Default solely pursuant to Section
6.1(m) or resulting solely from Section 3.2(c)) shall have occurred and be continuing. (de) It has provided the Lender with a completed Borrowing Request substantially in the form of Exhibit C hereto or a Letter of Credit Request substantially in the form of Exhibit D-1 hereto, as applicable.
Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (b), (c) and (cd) of this Section.
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44 ARTICLE 4
REPRESENTATIONS AND WARRANTIES
In order to induce the Lender to make Loans and issue the Letters of Credit, the Borrower represents and warrants to the Lender as follows:
Section 4.1. Organization, Powers, Etc. The Borrower (a) is a public agency formed under the provisions of the Act that is qualified to be a community choice aggregator pursuant to California Public Utilities Code Section 366.2 and; (b) has full and adequate power to own its Property and conduct its business as now conducted, and is duly licensed or qualified in each jurisdiction in which the nature of the business conducted by it or the nature of the Property owned or leased by it requires such licensing or qualifying. The Borrower has the agency power, and has exercised such agency power, to (i) execute, deliver and perform its obligations under the Basic Documents and the Lockbox Security Agreements; and (ii) grant the Lien over Net Revenues as security for the performance of the Obligations.
Section 4.2. Authorization, Absence of Conflicts, Etc. The execution, delivery and performance by the Borrower of the Basic Documents (a) have been duly authorized by all necessary action on the part of the Borrower and its Members , (b) do not conflict with, or result in a violation of, the Act, the Joint Powers Agreement or the Resolution, (c) do not conflict with, or result in a violation of, any Laws (other than the Act) or any order, writ, rule or regulation of any court or governmental agency or instrumentality binding upon or applicable to the Borrower which conflict or violation could reasonably be expected to result in a material Adverse Effectimpairment of the rights and remedies of the Lender under this Agreement or any other Basic Document, or of the ability of the Borrower to perform its Obligations under this Agreement, any other Basic Document to which it is a party, or any Lockbox Security Agreement to which the Borrower is a party and (d) do not conflict with, result in a violation of, or constitute a default under, any resolution, agreement or instrument to which the Borrower is a party (other than the Joint Powers Agreement), or by which the Borrower or any of its Property is bound which, in any case, could reasonably be expected to result in a material Adverse Effectimpairment of the rights and remedies of the Lender under this Agreement or any other Basic Document, or of the ability of the Borrower to perform its Obligations under this Agreement, any other Basic Document to which it is a party, or any Lockbox Security Agreement to which the Borrower is a party.
Section 4.3. Binding Obligations. The Basic Documents are valid and binding obligations of the Borrower (assuming due authorization, execution and delivery by the other parties thereto) enforceable against the Borrower in accordance with their respective terms, except to the extent, if any, that the enforceability thereof may be limited by (i) any applicable bankruptcy, insolvency, reorganization, moratorium or other similar law of the State or Federal government affecting the enforcement of creditors’ rights generally heretofore or hereafter enacted, (ii) the fact that enforcement may also be subject to the exercise of judicial discretion in appropriate cases and (iii) the limitations on legal remedies against public agencies of the State.
Section 4.4. Governmental Consent or Approval. No consent, approval, permit, authorization or order of, or registration or filing with, any court or government agency, authority Agenda Page 217
45 or other instrumentality not already obtained, given or made is required on the part of the Borrower for execution, delivery and performance by the Borrower of the Basic Documents.
Section 4.5. Absence of Material Litigation. There is no action, suit, proceeding, inquiry or investigation, at law or in equity, before or by any court, arbitrator or governmental or other board, body or official pending or, to the best knowledge of the Borrower, threatened against or affecting the Borrower questioning the validity of the Joint Powers Agreement, the execution, delivery and performance by the Borrower of the Basic Documents or any proceeding taken or to be taken by the Borrower or the Board in connection therewith, or seeking to prohibit, restrain or enjoin the execution, delivery and performance by the Borrower of the Basic Documents, or which could reasonably be expected to result in any Material Adverse Effecta material impairment of the rights and remedies of the Lender under this Agreement or any other Basic Document, or of the ability of the Borrower to perform its Obligations under this Agreement, any other Basic Document to which it is a party, or any Lockbox Security Agreement to which the Borrower is a party, or wherein an unfavorable decision, ruling or finding would in any way materially adversely affect the transactions contemplated by the Basic Documents (any such action or proceeding being herein referred to as “Material Litigation”).
Section 4.6. Financial Condition. The most recent Annual Financial Statements delivered (or deemed delivered) to the Lender were prepared in accordance with GAAP and were subject to certification by independent certified public accountants of nationally recognized standing or by independent certified public accountants otherwise acceptable to the Lender. The most recent unaudited Financial Statements of the Borrower delivered (or deemed delivered) to the Lender were prepared in accordance with GAAP. The data on which such Financial Statements are based (as modified or supplemented by additional data) were accurate in all material respects. Since the date of the most recent Annual Financial Statements delivered to the Lender, no material Adverse Effect has occurred.impairment of the rights and remedies of the Lender under this Agreement or any other Basic Document, or of the ability of the Borrower to perform its Obligations under this Agreement, any other Basic Document to which it is a party, or any Lockbox Security Agreement to which the Borrower is a party has occurred. The most recent budget report delivered to the Lender was prepared in good faith based upon assumptions believed to be reasonable by the Borrower at the time the budget was prepared.
Section 4.7. Incorporation of Representations and Warranties. The representations and warranties of the Borrower set forth in the Basic Documents (other than this Agreement and the Fee Agreement) and the Lockbox Security Documents are true and accurate in all material respects on the Closing Date, as fully as though made on the Closing Date. The Borrower makes, as of the Closing Date, each of such representations and warranties to, and for the benefit of, the Lender, as if the same were set forth at length in this Section 4.7 together with all applicable definitions thereto. No amendment, modification or termination of any such representations, warranties or definitions contained in the Basic Documents (other than this Agreement and the Fee Agreement) and the Lockbox Security Documents will be effective to amend, modify or terminate the representations, warranties and definitions incorporated in this Section 4.7 by this reference, without the prior written consent of the Lender.
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46 Section 4.8. Accuracy and Completeness of Information. The Basic Documents, the Lockbox Security Documents and all certificates, financial statements, documents and other written information furnished to the Lender by or on behalf of the Borrower in connection with the transactions contemplated hereby were, as of their respective dates, complete and correct in all material respects to the extent necessary to give the Lender true and accurate knowledge of the subject matter thereof and did not contain any untrue statement of a material fact.
Section 4.9. No Default. No Default or Event of Default under this Agreement has occurred and is continuing. No “event of default” (after giving effect to applicable cure periods, if any) has occurred and is continuing with respect to the Borrower under any other material mortgage, indenture, contract, agreement or undertaking respecting the Enterprise (including, but not limited to, any PPA) to which the Borrower is a party or which purports to be binding on the Borrower or on any of the property of the Enterprise.
Section 4.10. No Proposed Legal Changes. There is no amendment or, to the knowledge of the Borrower, proposed amendment to the Constitution of the State, any State law or the Joint Powers Agreement or any administrative interpretation of the Constitution of the State, any State law, or the Joint Powers Agreement, or any judicial decision interpreting any of the foregoing, the effect of which could reasonably be expected to have a Material Adverse Effectmaterially impair the rights and remedies of the Lender under this Agreement or any other Basic Document, or of the ability of the Borrower to perform its Obligations under this Agreement, any other Basic Document to which it is a party, or any Lockbox Security Agreement to which the Borrower is a party.
Section 4.11. Compliance with Laws, Etc. The Borrower is in material compliance with all Applicable Laws.
Section 4.12. Environmental Matters. In the ordinary course of its business, the Borrower conducts an ongoing review of Environmental Laws on the business, operations and the condition of its Property, in the course of which it identifies and evaluates associated liabilities and costs (including, but not limited to, any capital or operating expenditures required for clean-up or closure of properties currently or previously owned or operated, any capital or operating expenditures required to achieve or maintain compliance with environmental protection standards imposed by law or as a condition of any license, permit or contract, any related constraints on operating activities, including any periodic or permanent shutdown of any facility or reduction in the level of or change in the nature of operations conducted thereat and any actual or potential liabilities to third parties, including employees, and any related costs and expenses). On the basis of such review, the Borrower does not believe that compliance by the Borrower with Environmental Laws is likely to have a Material Adverse Effect.[Reserved.] Section 4.13. Regulation U. The Borrower is not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board of Governors of the Federal Reserve System).
Section 4.14. Liens. This Agreement creates a valid Lien on and pledge of the Net Revenues to secure the payment and performance of the Borrower’s obligations under this Agenda Page 219
47 Agreement and the Fee Agreement, and no filings, recordings, registrations or other actions are necessary on the part of the Borrower, the Lender or any other Person to create or perfect such Lien. Except for the Lien over Net Revenues contained in this Agreement and Liens over Net Revenues securing Parity Debt and Subordinate Debt permitted by this Agreement, there is no pledge of or Lien on Net Revenues. There is no pledge of or Lien on Net Revenues that ranks senior to the Obligations.
Section 4.15. Sovereign Immunity. The Borrower is not entitled to claim immunity on the grounds of sovereignty or other similar grounds (including, without limitation, governmental immunity) with respect to itself or the Revenues (irrespective of their use or intended use) from (i) any action, suit or other proceeding arising under or relating to this Agreement or any other Basic Document, (ii) relief by way of injunction, order for specific performance or writ of mandamus or for recovery of property or (iii) execution or enforcement of any judgment to which it or the Revenues might otherwise be made subject in any action, suit or proceeding relating to this Agreement or any other Basic Document, and no such immunity (whether or not claimed) may be attributed to the Borrower or the Revenues.
Section 4.16. Usury. The terms of the Basic Documents regarding the calculation and payment of interest and fees do not violate any applicable usury laws.
Section 4.17. Insurance. As of the Closing Date, the Borrower maintains such insurance, including self-insurance, as is required by Section 5.1(k) hereof.
Section 4.18. ERISA. The Borrower does not maintain or contribute to, and has not maintained or contributed to, any Employee Plan that is subject to Title IV of ERISA.
Section 4.19. Sanctions Concerns and Anti-Corruption Laws. Neither the Borrower nor, to the best knowledge of the Borrower, any director, officer, employee, or affiliate thereof, is an individual or entity that is, or is owned or controlled by any individual or entity that is (i) currently the subject or target of any Sanctions or (ii) included on OFAC's List of Specially Designated Nationals, HMT's Consolidated List of Financial Sanctions Targets and the Investment Ban List, or any similar list enforced by any other relevant sanctions authority. The Borrower has conducted its business in compliance with the United States Foreign Corrupt Practices Act of 1977, other similar Anti-Corruption Laws in other jurisdictions, Sanctions and has instituted and maintained policies and procedures designed to promote and achieve compliance with such Laws. No transaction contemplated by this Agreement will violate Anti-Corruption Laws or Sanctions.
Section 4.20. Secured Debt. As of the Closing Date, the Borrower has no Debt for borrowed money other than Debt under the County of Los Angeles Funding Agreement, and no Debt secured by Property of the Borrower (including Revenues and Net Revenues). The Debt in favor of the County of Los Angeles under the County of Los Angeles Funding Agreement is not secured by any Property of the Borrower.
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48 ARTICLE 5
COVENANTS
Section 5.1. Affirmative Covenants. Until the Commitment has expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full in cash and all Letters of Credit shall have expired or terminated, in each case, without any pending draw, and all LC Disbursements shall have been reimbursed in full in cash, the Borrower covenants and agrees with the Lender that:
(a) Accounting and Reports. The Borrower shall maintain a standard system of accounting in accordance with GAAP consistently applied and furnish to the Lender:
(i) as soon as available, and in any event within (A) sixty (60) days after the close of each of the first three fiscal quarters of each Fiscal Year and (B) one hundred twenty (120) days after the close of each of the fourth fiscal quarter of each Fiscal Year, unaudited Financial Statements for the quarterly period then ended, prepared in accordance with GAAP;
(ii) as soon as available, and in any event within six (6) months after the close of each Fiscal Year, a copy of the Annual Financial Statements at and as of the last day of the Fiscal Year then ended, and accompanying notes thereto, each in reasonable detail showing in comparative form the figures for the previous Fiscal Year, accompanied by an unqualified opinion thereon of Borrower’s independent public accountants, to the effect that the financial statements have been prepared in accordance with GAAP and present fairly in accordance with GAAP the financial condition of Borrower as of the close of such Fiscal Year and the results of its operations and cash flows for the Fiscal Year then ended and that an examination of such accounts in connection with such financial statements has been made in accordance with generally accepted auditing standards and, accordingly, such examination included such tests of the accounting records and such other auditing procedures as were considered necessary in the circumstances; (iii) promptly after receipt thereof, any additional written reports, management letters or other detailed information contained in writing concerning significant aspects of Borrower’s operations and financial affairs given to it by its independent public accountants;
(iv) promptly after knowledge thereof shall have come to the attention of any responsible officer of Borrower, written notice of any litigation threatened in writing or any pending litigation or governmental proceeding or labor controversy against Borrower which, if adversely determined, could reasonably be expected to have a Material Adverse Effect or result in the occurrence of any Default or Event of Default hereunder;
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49 (v) as soon as available, and in any event within 45 days of adoption, the Borrower shall provide the Lender its annual budget and all amendments and modifications thereof;
(vi) as soon as available, and in any event within 60 days of the end of each month, a copy of the Borrower’s monthly “financial dashboard” or such other the monthly operating and financial information as may be requested by the Lender; (vii) promptly after incurrence or issuance thereof by the Borrower, copies of each agreement in respect of Secured Debt;
(viii) promptly thereafter, and in any event within 10 Business Days of the occurrence thereof, any change in the Borrower’s Fiscal Year together a written explanation of the rationale therefor;
(ix) promptly thereafter, and in any event within 10 Business Days of the occurrence thereof, (A) any change or modification in the Borrower’s accounting methodolgy (including the basis on which accounting determinations are made) that, when applied to the Financial Statements to be prepared by the Borrower following such change or modification, would render such Financial Statements inconsistent with the Financial Statements prepared by the Borrower prior to such change or modification, and (B) a written explanantionexplanation of the rationale for making such change or modification; and (x(x) promptly following any change in the information provided in the Beneficial Ownership Certification delivered to the Lender that would result in a change to the list of beneficial owners identified in such certification, written notice of such change; and
(xi) promptly after the request therefor, all such other information as Lender may reasonably request.
Each of the quarterly and annual Financial Statements furnished to Lender pursuant to subsection (a)(i) and (ii) of this Section 5.1 shall be accompanied by a compliance certificate, substantially in the form of Exhibit B hereto, signed by an Authorized Representative stating that no Event of Default or Default has occurred or if any Event of Default or Default has occurred, specifying the nature of such Event of Default or Default, the period of its existence, the nature and status thereof and any remedial steps taken or proposed to correct such Event of Default or Default.
(b) Access to Records. At any reasonable time and from time to time, during normal business hours and, so long as no Event of Default has occurred and is continuing, on at least five (5) Business Days’ notice, the Borrower shall permit the Lender or any of its agents or representatives to visit and inspect any of the Properties of the Borrower, to examine the books of account of the Borrower (and to make copies thereof and extracts therefrom), and to discuss the affairs, finances and accounts of the Borrower with, and to Agenda Page 222
50 be advised as to the same by, its officers, all at such reasonable times and intervals as the Lender may reasonably request.
(c) Compliance with Basic Documents; Operation and Maintenance of Enterprise.
(i) The Borrower shall perform and comply with each covenant set forth in the Basic Documents and any other agreements, instruments or documents evidencing Debt of the Borrower, including Parity Debt or Subordinate Debt. By the terms of this Agreement, the Lender is hereby made a third-party beneficiary of the covenants set forth in each of the Basic Documents (other than this Agreement and the Fee Agreement), and each such covenant, together with the related definitions of terms contained therein, is incorporated by reference in this Section
5.1(c) with the same effect as if it were set forth herein in its entirety. Except as otherwise set forth in paragraph (ii) below and in Section 5.2(a) hereof, the Borrower will not amend, supplement or otherwise modify (or permit any of the foregoing), or request or agree to any consent or waiver under, or effect or permit the cancellation, acceleration or termination of, or release or permit the release of any collateral held under any of the Basic Documents in any manner without the prior written consent of the Lender, and the Borrower shall take, or cause to be taken, all such actions as may be reasonably requested by the Lender to strictly enforce the obligations of the other parties to any of the Basic Documents, as well as each of the covenants set forth therein. The Borrower shall give prior written notice to the Lender of any action referred to in this subparagraph (i). (ii) The Borrower covenants that it will maintain and preserve the Enterprise in good repair and working order at all times from the Revenues available for such purposes, in conformity with standards customarily followed for community choice aggregators of like size and character. The Borrower will from time to time make all necessary and proper repairs, renewals, replacements and substitutions to the Properties of the Borrower, so that at all times business carried on in connection with the Enterprise shall and can be properly and advantageously conducted in an efficient manner and at reasonable cost, and will operate the Enterprise in an efficient and economical manner and shall not commit or allow any waste with respect to the Enterprise.
(d) Defaults. The Borrower shall notify the Lender of any Default or Event of Default of which the Borrower has knowledge, as soon as possible and, in any event, within three (3) Business Days of acquiring knowledge thereof, setting forth the details of such Default or Event of Default and the action which the Borrower has taken and/or proposes to take with respect thereto.
(e) Compliance with Laws. The Borrower shall comply in all material respects with all Laws binding upon or applicable to the Borrower (including Environmental Laws).
The Borrower will maintain in effect and enforce policies and procedures designed to ensure compliance by the Borrower and its respective directors, officers, employees and Agenda Page 223
51 agents with Anti-Corruption Laws and applicable Sanctions. The Borrower will not use or allow any tenants or subtenants to use the Borrower’s Property for any business activity that violates any Law or that supports a business that violates any Law. (f) Investment Policy. The Borrower shall promptly notify the Lender in writing, not less than thirty (30) days after the Borrower receives notice of the formal consideration thereof, of any change proposed to the Investment Policy, which proposed change would increase or modify the types of investments permitted thereby as of the Closing Date.
(g) Notices. The Borrower shall promptly give notice to the Lender of any action, suit or proceeding actually known to it at law or in equity or by or before any court, governmental instrumentality or other agency which, if adversely determined, could reasonably be expected to materially adversely impair the ability of the Borrower to perform its obligations under any Basic Document.
(h) Bank Agreements. In the event that Borrower shall enter into or otherwise consent to any amendment, supplement or other modification of any Bank Agreement after the Closing Date which Bank Agreement contains additional or more restrictive covenants or additional or more restrictive events of default or additional or improved remedies (“Improved Provisions,” which for the avoidance of doubt does not include pricing, termination fees and provisions related to interest rates but does include improved term-out provisions), then the Borrower shall provide the Lender with a copy of such Bank Agreement and the Improved Provisions shall automatically be deemed incorporated into this Agreement and the Lender shall have the benefit of the Improved Provisions until such time as the Bank Agreement containing such Improved Provisions terminates. The Borrower shall promptly cooperate with the Lender to enter into an amendment of this Agreement to include such Improved Provisions.
(i) Further Assurances. The Borrower shall execute, acknowledge where appropriate and deliver, and cause to be executed, acknowledged where appropriate and delivered, from time to time, promptly at the request of the Lender, all such instruments and documents as are usual and customary or advisable to carry out the intent and purpose of the Basic Documents.
(j) Notices. The Borrower shall promptly furnish, or cause to be furnished, to the Lender (i) notice of the occurrence of any “default” or “event of default” or “termination event” under any Basic Document (other than this Agreement and the Fee Agreement), any Lockbox Security Document or any other agreement related to Secured Debt, (ii) copies of any communications received from any Governmental Authority with respect to the transactions contemplated by the Basic Documents, the Lockbox Security Documents or any other agreement related to Secured Debt which are not restricted or prohibited from being shared with the Lender under Applicable Law or the direction of a court of competent jurisdiction or other Governmental Authority, (iii) notice of any proposed substitution of any Letter of Credit, and (iv) notice of the passage of any state or local Law relating to, or affecting, community choice aggregators which the Borrower, in Agenda Page 224
52 its reasonable determination believes, could reasonably be expected to result in a Material Adverse Effect of the type described in clause (b) or (c) of the definition thereof. (k) Maintenance of Insurance. The Borrower shall maintain, or cause to be maintained, at all times, insurance on and with respect to its Properties with responsible and reputable insurance companies; provided, however, that the Borrower may maintain self-insurance general liability on its Properties not covered by the public entity property insurance program policy, for worker’s compensation and vehicle liability and, with the consent of the Lender, such other self-insurance as it deems prudent. Such insurance must include casualty, liability and workers’ compensation and be in amounts and with deductibles and exclusions customary and reasonable for governmental entities of similar size and with similar operations as the Borrower. The Borrower shall, upon request of the Lender, furnish evidence of such insurance to the Lender. The Borrower shall also procure and maintain at all times adequate fidelity insurance or bonds on all officers and employees handling or responsible for any Revenues or other funds of the Enterprise, such insurance or bond to be in an aggregate amount at least equal to the maximum amount of such Revenues or funds at any one time in the custody of all such officers and employees or in the amount of one million dollars ($1,000,000), whichever is less. The insurance described above may be provided as part of any comprehensive fidelity and other insurance and not separately for the Enterprise.
(l) Preservation of Security. The Borrower shall take any and all actions necessary to preserve and defend the pledge of Net Revenues set forth in this Agreement. (m) Rates. The Borrower shall fix, establish, maintain and collect rates and charges for electric power and energy and other services, facilities and commodities sold, furnished or supplied by the Borrower (collectively, “generation rates”), which shall provide the Borrower with Revenues in each Fiscal Year sufficient to pay budgeted Operating Costs and Annual Debt Service for such Fiscal Year and, to the extent not paid from other available moneys, any and all amounts the Borrower is obligated to pay or set aside from Revenues by Applicable Law or contract in such Fiscal Year. If the Borrower increases or decreases its generation rates during such Fiscal Year by more than 5% from the generation rates assumption used in the preparation of the budget, the Borrower shall provide the Lender with a twelve (12) consecutive month forecast of estimated Net Revenues (giving effect to the adjustment to the generation rates), as soon as practicable after such increase or decrease and in any event no later than ten (10) Business Days thereafter.
(n) Budget. The Borrower shall include in each annual budget of the Borrower all amounts reasonably anticipated to be necessary to pay all Operating Costs and Annual Debt Service at the time the budget is prepared, including debt service on all Secured Debt and Unsecured Debt, for the Fiscal Year to which such budget applies and to comply with the Financial Reserve Policy and the Fiscal Stabilization Fund Policy. (o) Payment of Taxes, Etc. The Borrower shall pay and discharge, or cause to be paid and discharged, all taxes, assessments and other governmental charges which may Agenda Page 225
53 hereafter be lawfully imposed upon the Borrower on account of the Enterprise or any portion thereof and which, if unpaid, might impair the security of this Agreement and the Fee Agreement, but nothing herein contained will require the Borrower to pay any such tax, assessment or charge so long as it in good faith contests the validity thereof. The Borrower shall duly observe and comply with all valid material requirements of any Governmental Authority relative to the Enterprise or any part thereof. (p) Lockbox Security Documents and PPAs. The Borrower shall perform and comply with all its agreements and covenants set forth in the Lockbox Security Documents and all material PPAs. The Borrower will not amend, supplement or otherwise modify (or permit any of the foregoing) any Lockbox Security Document in any manner that could reasonably be expected to expand the definition of “Collateral” set forth in the Security Agreement, change the definition of “Obligations” set forth in the Security Agreement or alter the distribution of the proceeds of Collateral set forth in Section 6.2 of the Security Agreement without, in each case, the prior written consent of the Lender, and the Borrower shall take, or cause to be taken, all such actions as may be reasonably requested by the Lender to strictly enforce the obligations of the other parties to any of the Lockbox Security Documents, as well as each of the covenants set forth therein. The Borrower shall not revoke or attempt to revoke any Direction Letter (as defined in Security Agreement) without the prior written consent of the Lender. The Borrower shall not terminate any Lockbox Security Document without the prior written consent of the Lender. The Borrower shall give prior written notice to the Lender of any proposed action referred to in this subparagraph (p).
(q) Debt Service Coverage. The Borrower shall not permit the Debt Service Coverage Ratio to be less than 1.10 for any fiscal quarter of the Borrower, commencing with the fiscal quarter ended September 30, 2021; provided, however, in the event the Debt Service Coverage Ratio for any fiscal quarter is less than 1.10 but the Days Liquidity on Hand for such fiscal quarter equals or exceeds 50 days, then the Borrower shall not be considered to have breached this Section 5.1(q); provided, further, however, that the Borrower may only rely on the cure contained in the preceding proviso twice during any Fiscal Year. The Borrower shall determine the Debt Service Coverage Ratio and Days Liquidity on Hand at each fiscal quarter end and shall provide the Lender with written notice thereof together with supporting calculations in reasonable detail to the Lender as soon as practicable following the end of a fiscal quarter and in any event no later than sixty (60) calendar days following the end of each of the first three fiscal quarters and one hundred twenty (120) calendar days following the end of the fourth fiscal quarter (each such notice, a “Debt Service Coverage Ratio Notice”).
(r) Policies. The Borrower shall comply with the terms of the Financial Reserve Policy and the Fiscal Stabilization Fund Policy and shall not amend or modify the Reserve Policy without the prior written consent of the Lender if such amendment or modification could reasonably be expected to result in a Material Adverse Effect. The Borrower shall deliver to the Lender copies of all amendments of and modifications to the Financial Reserve Policy and the Fiscal Stabilization Fund Policy as soon as practicable following adoption and in any event no later than ten (10) Business Days after adoption.
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54 Section 5.2. Negative Covenants. Until the Commitment has expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full in cash and all Letters of Credit shall have expired or terminated, in each case, without any pending draw, and all LC Disbursements shall have been reimbursed in full in cash, the Borrower covenants and agrees with the Lender that it will not:
(a) No Impairment. Take any action that would have an adverse effect on (i) the ability of the Borrower to pay when due amounts owing to the Lender or any Participant under this Agreement or the Fee Agreement; (ii) the pledge of Net Revenues or the priority of payments from Net Revenues provided in this Agreement; or (iii) the rights or remedies of the Lender under the Basic Documents.
(b) Merger, Disposition of Assets. Consolidate or merge with or into any Person or sell, lease or otherwise transfer all or substantially all of its Property to any Person.
(c) Abandon. Take any action to abandon the Enterprise or any significant portion thereof.
(d) Preservation of Existence, Etc. Take any action to terminate its existence as a public agency under the Act or its rights and privileges as such an entity within the State.
(e) Liens. Create or suffer to exist or permit any Lien on the Revenues or the proceeds thereof other than the Liens created (i) by this Agreement, (ii) or permitted by any agreement or instrument evidencing Parity Debt or Subordinate Debt issued or incurred in accordance with the terms of this Agreement, and (iii) by the Security Agreement. (f) Sovereign Immunity. To the fullest extent permitted by Applicable Law, with respect to its obligations arising under this Agreement or any other Basic Document, the Borrower irrevocably agrees that it will not assert or claim any immunity on the grounds of sovereignty or other similar grounds (including, without limitation, governmental immunity) from (i) any action, suit or other proceeding arising under or relating to this Agreement or any other Basic Document, (ii) relief by way of injunction, order for specific performance or writ of mandamus or (iii) execution or enforcement of any judgment to which it or its revenues might otherwise be entitled in any such action, suit or other proceeding, and the Borrower hereby irrevocably waives, to the fullest extent permitted by Applicable Law, with respect to itself and its revenues (irrespective of their use or intended use), all such immunity.
(g) Enterprise. Construct, operate or maintain any system or utility competitive with the Enterprise. The Borrower shall have in effect, or cause to have in effect, at all times an ordinance or resolution requiring all customers of the Enterprise to pay the fees, rates and charges applicable to the services and facilities furnished by the Enterprise. The Borrower shall not provide any service of the Enterprise free of charge to any Person, except (i) to the extent that any such free use is required by the terms of any existing Agenda Page 227
55 contract or agreement and (ii) for incidental insignificant free use so long as such free use does not prevent the Borrower from satisfying the other covenants of this Agreement. (h) Preservation of Existence, Etc. Take any action to accomplish a merger of the Enterprise with any other entity or enterprise, unless and until the Borrower has provided a method for segregating the Revenues from the revenues of said other entity or enterprise in a manner that will, or shall otherwise, preserve the Lien on the Net Revenues for the payment of the Obligations and has obtained an opinion of counsel from a firm nationally recognized in the practice of municipal financing that such merger will not, in and of itself, cause the pledge of Net Revenues set forth in this Agreement to be no longer valid. If the Borrower does effect such a merger, the Borrower shall provide written notice thereof to the Lender and shall deliver a copy of the aforementioned opinion and the merger documents to the Lender.
(i) Use of Proceeds. Use the Letters of Credit for any purpose other than to secure the Borrower’s obligations (A) under PPAs, (B) to the California Public Utilities Commission, (C) to the California Independent System Operator and (D) to Southern California Edison. Use the proceeds of any Loan, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose, in each case in violation of, or for a purpose which violates, or would be inconsistent with, Regulation T, U or X of the Board of Governors of the Federal Reserve System. Use the proceeds for any Loan for any purposes other than (i) to provide cash collateral to secure the Borrower’s obligations under PPAs, (ii) to repay in whole or in part any LC Disbursement, (iii) for general corporate purposes, (iv) for capital expenditures related to the development or acquisition of new assets related to the Enterprise subject to prior written approval by the Lender, which such approval shall not be unreasonably be withheld, or (v) to repay the Debt in favor of (1) the County of Los Angeles under the County of Los Angeles Funding Agreement, provided that no more than $30,000,000 of Loan proceeds may be applied for such purpose, and (2) RCB under the RCB Credit Agreement with proceeds of the Loan made pursuant to the Initial Borrowing. For the avoidance of doubt, Loan proceeds may not be used (x) for other long-term expenditures, (y) for funding the Reserves, or (z) to make payments to Members (except to the extent provided in clause (v)(1) immediately above and except to Members as part of the operation of the Enterprise (as long as such operation of the Enterprise is available to all similarly situated Members)). For the avoidance of doubt, the Borrower will not request any Borrowing or Letter of Credit, and the Borrower shall not use, and shall cause its directors, officers, employees and agents not to use, the proceeds of any Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (c) in any manner that would result in the violation of any Sanctions applicable to any party hereto.
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56 (j) Secured Debt.
(i) Not issue, incur or assume to exist any (A) Senior Debt or (B) any other Secured Debt other than (I) the Obligations; (II) Parity Debt described in clause (ii) below; and (III) Subordinate Debt described in clause (iii) below; (ii) Not issue, incur or assume to exist any Parity Debt except for Debt issued or incurred in compliance with the following conditions:
(1) no Default shall have occurred and be continuing
immediately before and after the issuance or incurrence of such Parity Debt; (2) such Parity Debt does not exceed at any time any limitation set forth in the Constitution or other Laws of the State, the Joint Powers Agreement or any resolutions or ordinances adopted by the Borrower; (3) the operating Reserve is funded in accordance with the Financial Reserve Policy immediately prior to the issuance or incurrence of such Parity Debt or will be funded in accordance with the Financial Reserve Policy after the issuance or incurrence of such Parity Debt and the application of the proceeds thereof; and
(4) delivery of a written certificate of the Borrower: (A) setting forth projected Net Revenues for the twelve consecutive month period immediately following the issuance or incurrence of such Parity Debt (in reasonable detail and with reasonable assumptions), (B) setting forth projected Annual Debt Service for the twelve consecutive month period immediately following the issuance or incurrence of such Parity Debt (inclusive of any additional Parity Debt and in reasonable detail and with reasonable assumptions), and (C) demonstrating that projected Net Revenues for the twelve consecutive month period immediately following the issuance or incurrence of such Parity Debt are expected to be at least equal to 1.30 times the projected Annual Debt Service for such period; provided, however, that for purposes of determining the projected Net Revenues for the twelve consecutive month period as set forth in the immediately foregoing clause (B) and (C), such Net Revenues may be adjusted to reflect any rates and charges that have been adopted or are expected to be generated by an approved rate action and any Net Revenues associated with the acquisition or development of power generation assets that were financed with such additional Debt;
(iii) Not issue, incur or assume to exist any Subordinate Debt except for Debt issued or incurred in compliance with the following conditions:
(1) no Default shall have occurred and be continuing
immediately before and after the issuance or incurrence of such Subordinate Debt;
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57 (2) such Subordinate Debt does not exceed at any time any limitation set forth in the Constitution or other Laws of the State, the Joint Powers Agreement or any resolutions or ordinances adopted by the Borrower;
(3) the operating Reserve is funded in accordance with the Financial Reserve Policy immediately prior to the issuance or incurrence of such Subordinate Debt or will be funded in accordance with the Financial Reserve Policy after the issuance or incurrence of such Subordinate Debt and the application of the proceeds thereof; and
(4) delivery of a written certificate of the Borrower: (A) setting forth projected Net Revenues for the twelve consecutive month period immediately following the issuance or incurrence of such Subordinate Debt (in reasonable detail and with reasonable assumptions), (B) setting forth projected Annual Debt Service for the twelve consecutive month period immediately following the issuance or incurrence of such Subordinate Debt (inclusive of any additional Subordinate Debt and in reasonable detail and with reasonable assumptions), and (C) demonstrating that projected Net Revenues for the twelve consecutive month period immediately following the issuance or incurrence of such Subordinate Debt are expected to be at least equal to 1.10 times the projected Annual Debt Service for such period; provided, however, that for purposes of determining the projected Net Revenues for the twelve consecutive month period as set forth in the foregoing clause (B) and (C), such Net Revenues may be adjusted to reflect any rates and charges that have been adopted or are expected to be generated by an approved rate action and any Net Revenues associated with the acquisition or development of power generation assets that were financed with such additional Debt; and
(iv) Not issue, incur or assume to exist any Unsecured Debt except for (A) $30,000,000 of Debt under the County of Los Angeles Funding Agreement and (B) Unsecured Debt issued or incurred in compliance with the following conditions:
(1) no Default shall have occurred and be continuing
immediately before and after the issuance or incurrence of such Unsecured Debt;
(2) such Unsecured Debt does not exceed at any time any limitation set forth in the Constitution or other Laws of the State, the Joint Powers Agreement or any resolutions or ordinances adopted by the Borrower; and
(3) the operating Reserve is funded in accordance with the Financial Reserve Policy immediately prior to the issuance or incurrence of such Unsecured Debt or will be funded in accordance with the Financial Agenda Page 230
58 Reserve Policy after the issuance or incurrence of such Unsecured Debt and the application of the proceeds thereof.
(k) Available Net Revenues. Not use Net Revenues for any purpose other than:
(i) payment of Operating Costs; (ii) payment of Obligations; (iii) payment of debt service on, and fees associated with, the Debt incurred under the County of Los Angeles Funding Agreement and other Parity Debt; (iv) funding and replenishment of the Reserves; (v) so long as no Event of Default has occurred and is continuing, payment of interest on, and fees associated with, Subordinate Debt and Unsecured Debt; (vii) capital expenditures in connection with assets that will become part of the Enterprise; (viii) rebates to Enterprise customers; and (ix) any other lawful purpose that inures to the direct benefit of the Enterprise.
ARTICLE 6
DEFAULTS
Section 6.1. Events of Default and Remedies.. If any of the following events occur, each such event will be an “Event of Default”:
(a) the Borrower fails to pay, or cause to be paid, as and when due, (i) any principal of or any interest on any Loan or Reimbursement Obligation or (ii) any other Obligation hereunder or under the Fee Agreement and such failure continues for three (3) Business Days.
(b) (i) any representation or warranty made by or on behalf of the Borrower in this Agreement or in any other Basic Document or in any certificate or statement delivered hereunder or thereunder (including, for the avoidance of doubt, pursuant to Section 3.2(c)) that is not qualified by the concept of “materiality” shall be incorrect or untrue in any material respect when made or deemed to have been made or delivered; or (ii) any representation or warranty made by or on behalf of the Borrower in this Agreement or in any other Basic Document or in any certificate or statement delivered hereunder or thereunder that is qualified by the concept of “materiality” shall be incorrect or untrue in any respect when made or deemed to have been made or delivered; (c) the Borrower defaults in the due performance or observance of any of the covenants set forth in Section 5.1(a) Accounting and Reports, 5.1(c) Compliance with Basic Documents; Operation and Maintenance of Enterprise, 5.1(d) Defaults, 5.1(g) Notices,
5.1(k) Maintenance of Insurance, 5.1(1) Preservation of Security, 5.1(m) Rates, 5.1(q) Debt Service Coverage, 5.1(r) Policies or 5.2 hereof;
(d) the Borrower defaults in the due performance or observance of any other term, covenant or agreement contained in this Agreement or any other Basic Document and such default remains unremedied for a period of thirty (30) days after the occurrence thereof;
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59 (e) the Borrower, directly or indirectly, (i) has entered involuntarily against it an order for relief under the United States Bankruptcy Code, as amended, (ii) becomes insolvent or does not pay, or is unable to pay, or admits in writing its inability to pay, its debts generally as they become due, (iii) makes an assignment for the benefit of creditors, (iv) applies for, seeks, consents to, or acquiesces in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any substantial part of its Property, (v) institutes any proceeding seeking to have entered against it an order for relief under the United States Bankruptcy Code, as amended, to adjudicate it insolvent or seeking dissolution, winding up, liquidation, reorganization, arrangement, marshalling of assets, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fails to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (vi) takes any public agency action in furtherance of any matter described in clauses (i) through (v) above or (vii) fails to contest in good faith any appointment or proceeding described in Section
6.1(f) of this Agreement;
(f) a custodian, receiver, trustee, examiner, liquidator or similar official is appointed for the Borrower or any substantial part of its Property, or a proceeding described in Section 6.1(e)(v) is instituted against the Borrower and such proceeding continues undischarged, undismissed and unstayed for a period of thirty (30) days; (g) a debt moratorium, debt restructuring, debt adjustment or comparable restriction is imposed on the repayment when due and payable of the principal of or interest on any Secured Debt of the Borrower by the Borrower or any Governmental Authority with appropriate jurisdiction;
(h) any material provision of this Agreement, the Joint Powers Agreement or any other Basic Document at any time for any reason ceases to be valid and binding on the Borrower as a result of any legislative or administrative action by a Governmental Authority with competent jurisdiction or is declared in a final non-appealable judgment by any court with competent jurisdiction to be null and void, invalid or unenforceable, or the validity or enforceability thereof is publicly contested by the Borrower, or the Borrower publicly contests the validity or enforceability of any obligation to pay Secured Debt, or any Authorized Representative publicly repudiates or otherwise denies in writing that it has any further liability or obligation under or with respect to any provision of this Agreement, the Joint Powers Agreement, any other Basic Document or any operative document related to Secured Debt;
(i) dissolution or termination of the existence of the Borrower; (j) the Borrower (i) defaults on the payment of the principal of or interest on any Secured Debt beyond the period of grace, if any, provided in the instrument or agreement under which such Secured Debt was created or incurred or (ii) defaults in the observance or performance of any agreement or condition relating to any Secured Debt, including, without limitation, any Bank Agreement, or contained in any instrument or agreement evidencing, securing or relating thereto, or any other default, event of default or Agenda Page 232
60 similar event occurs or condition exists, the effect of which default, event of default or similar event or condition is to permit (determined without regard to whether any notice is required) any such Secured Debt to become immediately due and payable in full as the result of the acceleration, mandatory redemption or mandatory tender of such Secured Debt;
(k) any final, nonappealable judgment or judgments, writ or writs or warrant or warrants of attachment, or any similar process or processes, in an aggregate amount not less than $2,000,000 are entered or filed against the Borrower or against any of its Property and remain unpaid, unvacated, unbonded and unstayed for a period of sixty (60) days; or (l) the passage of any State Law has occurred which could, upon implementation thereof, is reasonably be expected to (i) have a material adverse effect onmaterially impair the rights and remedies of the Lender under this Agreement or any other Basic Document, or of the ability of community choice aggregatorsthe Borrower to continue operating within the State, (ii) have a material adverse effect on the Borrower’s ability to timely pay paymentperform its Obligations when due or (iii) result in under this Agreement, any other Basic Document to which it is a party, or any Lockbox Security Agreement to which the Borrower is a party; or
(m) there shall have occurred any event or any series of events that either (i) has had or is reasonably likely to have or to cause a Material Adverse Effect on the enforceability or validity of this Agreement or any other Basic Document, or (ii) in the reasonable determination of the Lender, has had or is reasonably likely to have or to cause a Material Adverse Effect.
Section 6.2. Remedies. Upon the occurrence of any Event of Default (other than an Event of Default described in Section 6.1(e) or 6.1(f)), and at any time thereafter during the continuance of such event, the Lender may by notice to the Borrower, take any or all of the following actions, at the same or different times: (i) terminate the Commitment, and thereupon the Commitment shall terminate immediately, (ii) require cash collateral for the LC Exposure in accordance with Section
2.4(h) hereof and (iii) declare all Obligations then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder and under the Fee Agreement, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any Event of Default described in Section 6.1(e) or
6.1(f), the Commitment shall automatically terminate and the principal of the Loans then outstanding, and cash collateral for the LC Exposure, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower.
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61 ARTICLE 7
MISCELLANEOUS
Section 7.1. Amendments, Waivers, Etc. No amendment or waiver of any provision of this Agreement, or consent to any departure by the Borrower therefrom, will in any event be effective unless the same is in writing and signed by the Lender and an Authorized Representative of the Borrower, and then such waiver or consent is effective only in the specific instance and for the specific purpose for which given.
Section 7.2. Notices. All notices and other communications provided for hereunder must be in writing (including required copies) and sent by courier (including Federal Express, UPS or other receipted courier service), facsimile transmission or regular mail, as follows:
(a) if to the Borrower:
Clean Power Alliance
801 S. Grand Ave., Ste. 400
Los Angeles, CA 90017
Attention: David McNeil, Chief Financial Officer
Email: [email protected]
with a copy to:
Chapman & Cutler LLP
1270 Avenue of the Americas, 30th Floor
New York, NY 10020-1708
Attention: Douglas A. Bird
Telephone: (212) 655-2519
Facsimile: (646) 362-8949
Email: [email protected]
(b) if to the Lender:
JPMorgan Chase Bank, National Association
383 Madison Avenue, 3rd Floor
New York, New York 10179
Mail Code: NY1-M076
Attention: Allyson Goetschius or Janice Fong
Telephone: (212) 270-0335 or (212) 270-3762
Facsimile: (917) 849-0272
Email: [email protected] or
[email protected]
with a copy to:
JPMorgan Chase Bank, National Association
JPM-Delaware Loan Operations
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62 500 Stanton Christiana Road, NCC5, Floor 01
Newark, DE 19713-2107
Attention: PFG Servicing
Telephone: (302) 634-9627
Email/Fax: [email protected]
And, for compliance-related items, with a copy to:
[email protected]
or, as to each Person named above, at such other address or telephone or telecopy number as is designated by such Person in a written notice to the parties hereto. All such notices and other communications will, when delivered, sent by facsimile transmission or mailed, be effective when deposited with the courier, sent by facsimile transmission or mailed, respectively, addressed as aforesaid, except that Borrowing Requests and requests for LC Disbursements submitted to the Lender will not be effective until received by the Lender.
Section 7.3. Survival of Covenants; Successors and Assigns. (a) All covenants, agreements, representations and warranties made herein and, in the certificates, delivered pursuant hereto will survive the making of any Loan, and will continue in full force and effect until all of the Obligations hereunder are paid in full in cash. Whenever in this Agreement any of the parties hereto is referred to, such reference will, subject to the last sentence of this Section, be deemed to include the successors and assigns of such party, and all covenants, promises and agreements by or on behalf of the Borrower which are contained in this Agreement will inure to the benefit of the successors and assigns of the Lender. The Borrower may not transfer its rights or obligations under this Agreement without the prior written consent of the Lender. The Lender may transfer or assign some or all of its rights and obligations under this Agreement and the Fee Agreement with, so long as no Event of Default has occurred and is continuing, the prior written consent of the Borrower (which consent may not be withheld unreasonably); provided that the Lender shall be responsible for all costs solely relating to such transfer or assignment. This Agreement is made solely for the benefit of the Borrower and the Lender, and no other Person (including, without limitation, any PPA Counterparty) will have any right, benefit or interest under or because of the existence of this Agreement.
(b) Notwithstanding the foregoing, the Lender will be permitted to grant to one or more financial institutions (each a “Participant”) a participation or participations in all or any part of the Lender’s rights and benefits and obligations under this Agreement, the Fee Agreement, the Loans and the Letters of Credit on a participating basis but not as a party to this Agreement (a “Participation”) without the consent of the Borrower. In the event of any such grant by the Lender of a Participation to a Participant, the Lender shall remain responsible for the performance of its obligations hereunder and under the Letters of Credit, and the Borrower may continue to deal solely and directly with the Lender in connection with the Lender’s rights and obligations under this Agreement, under the Fee Agreement and under the Letters of Credit. The Borrower agrees that each Participant will, to the extent of its Participation, be entitled to the benefits of this Agreement as if such Participant were the Lender; provided that no Participant will have the right to declare, or to take actions in response to, an Event of Default under Section 6.1 hereof; and Agenda Page 235
63 provided, further, that the Borrower’s liability to any Participant (including, without limitation, amounts payable pursuant to Sections 2.12, 2.13 and 2.14) will not in any event exceed that liability which the Borrower would owe to the Lender but for such participation.
Section 7.4. No Recourse Against Members. CPA shall solely be responsible for all debts, obligations and liabilities accruing and arising out of this Agreement and the Fee Agreement. The Lender shall not make any claims, take any actions or assert any remedies against any Member arising solely as a result of CPA’s breach of this Agreement.
Section 7.5. Liability of Lender; Indemnification.
(a) To the extent permitted by the laws of the State, the Borrower assumes all risks of the acts or omissions of the PPA Counterparties with respect to the use of the Letters of Credit or the use of proceeds thereunder; provided that this provision is not intended to and will not preclude the Borrower from pursuing such rights and remedies as it may have against the PPA Counterparties under any other agreements. Neither the Lender nor any of its respective officers, directors or employees will be liable or responsible for (i) the use of any Letter of Credit, the LC Disbursements or the Loans or the transactions contemplated hereby and by the other Basic Documents or for any acts or omissions of any PPA Counterparty, (ii) the validity, sufficiency or genuineness of any documents determined in good faith by the Lender to be valid, sufficient or genuine, even if such documents, in fact, prove to be in any or all respects invalid, fraudulent, forged or insufficient, (iii) payments by the Lender against presentation of requests for LC Disbursements or requests which the Lender in good faith has determined to be valid, sufficient or genuine and which subsequently are found not to comply with the terms of this Agreement or (iv) any other circumstances whatsoever in making or failing to make payment hereunder; provided that the Borrower is not required to indemnify the Lender for any claims, losses, liabilities, costs or expenses to the extent, but only to the extent, that a court of competent jurisdiction has determined by a final, non-appealable judgment were caused by the gross negligence or willful misconduct of the Lender.
(b) To the extent permitted by the laws of the State, the Borrower indemnifies and holds harmless the Lender from and against any and all direct, as opposed to consequential, claims, damages, losses, liabilities, costs and expenses (including specifically reasonable attorneys’ fees) which the Lender may incur (or which may be claimed against the Lender by any Person whatsoever) by reason of or in connection with the execution, delivery and performance of the Basic Documents, the Letters of Credit and the transactions contemplated thereby; provided that the Borrower is not required to indemnify the Lender to the extent, but only to the extent, any such claim, damage, loss, liability, cost or expense is caused by the Lender’s willful misconduct or gross negligence as determined by a final order of a court of competent jurisdiction. The Lender is expressly authorized and directed to honor any demand for payment which is made under any Letter of Credit without regard to, and without any duty on its part to inquire into the existence of, any disputes or controversies between the Borrower, any PPA Counterparty or any other Person or the respective rights, duties or liabilities of any of them or whether any facts or occurrences represented in any of the documents presented under any Letter of Credit are true and correct.
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64 (c) To the fullest extent permitted by Applicable Law, the Borrower shall not assert, and waives, any claim against the Lender, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any Basic Document or any agreement or instrument contemplated thereby, the transactions contemplated thereby or the use of the proceeds thereof. (d) The obligations of the Borrower under this Section 7.5 will survive the termination of this Agreement.
Section 7.6. Expenses. Upon receipt of a written invoice, the Borrower shall promptly pay (i) the reasonable fees and expenses of counsel to the Lender incurred in connection with the preparation, execution and delivery and administration of this Agreement, the Letters of Credit, the Fee Agreement and the other Basic Documents as set forth in the Fee Agreement, (ii) the reasonable out-of-pocket expenses of the Lender incurred in connection with the preparation, execution and delivery and administration of this Agreement, the Letters of Credit, the Fee Agreement and the other Basic Documents, (iii) the fees and disbursements of counsel to the Lender with respect to advising the Lender as to its rights and responsibilities under the Basic Documents after the occurrence of a Default or an Event of Default and (iv) all costs and expenses, if any, in connection with the administration and enforcement of the Basic Documents, including in each case the fees and disbursements of counsel to the Lender. In addition, and notwithstanding the foregoing, the Borrower agrees to pay, after the occurrence of an Event of Default, all costs and expenses (including attorneys’ fees and costs of settlement) incurred by the Lender in enforcing any obligations or in collecting any payments due from the Borrower hereunder or under the Fee Agreement by reason of such Event of Default or in connection with any refinancing or restructuring of the credit arrangements provided under this Agreement in the nature of a “workout” or of any insolvency or bankruptcy proceedings. The obligations of the Borrower under this Section 7.6 will survive the termination of this Agreement.
Section 7.7. No Waiver; Conflict. Neither any failure nor any delay on the part of the Lender in exercising any right, power or privilege hereunder, nor any course of dealing with respect to any of the same, will operate as a waiver thereof or preclude any other or further exercise thereof, nor will a single or partial exercise thereof, preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The remedies herein provided are cumulative and not exclusive of any remedies provided by law. To the extent of any conflict between this Agreement and any other Basic Documents, this Agreement will control solely as between the Borrower and the Lender.
Section 7.8. Modification, Amendment Waiver, Etc. No modification, amendment or waiver of any provision of this Agreement will be effective unless the same is in writing and signed in accordance with Section 7.1 hereof.
Section 7.9. Dealings. The Lender and its affiliates may accept deposits from, extend credit to and generally engage in any kind of banking, trust or other business with the Borrower and/or any PPA Counterparty regardless of the capacity of the Lender hereunder or under any Letter of Credit.
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65 Section 7.10. Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction will, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other jurisdiction, and all other remaining provisions hereof will be construed to render them enforceable to the fullest extent permitted by law. The parties shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic or legal effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.
Section 7.11. Counterparts; Integration; Effectiveness; Electronic Execution. (a) This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Basic Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 3.1, this Agreement shall become effective when it shall have been executed by the Lender and when the Lender shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
(b) Delivery of an executed counterpart of a signature page of (x) this Agreement, (y) any other Basic Document and/or (z) any document, amendment, approval, consent, information, notice (including, for the avoidance of doubt, any notice delivered pursuant to Section 7.2), certificate, request, statement, disclosure or authorization related to this Agreement, any other Basic Document and/or the transactions contemplated hereby and/or thereby (each an “Ancillary Document”) that is an Electronic Signature transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement, such other Basic Document or such Ancillary Document, as applicable. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Agreement, any other Basic Document and/or any Ancillary Document shall be deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page), each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided that nothing herein shall require the Lender to accept Electronic Signatures in any form or format without its prior written consent and pursuant to procedures approved by it; provided, further, without limiting the foregoing, (i) to the extent the Lender has agreed to accept any Electronic Signature, the Lender shall be entitled to rely on such Electronic Signature purportedly given by or on behalf of the Borrower without further verification thereof and without any obligation to review the appearance or form of any such Electronic Signature and (ii) upon the request of the Lender, any Electronic Signature shall be promptly followed by a manually executed counterpart. Without limiting the generality of the foregoing, the Borrower hereby (A) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring, Agenda Page 238
66 enforcement of remedies, bankruptcy proceedings or litigation among the Lender and the Borrower, Electronic Signatures transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page and/or any electronic images of this Agreement, any other Basic Document and/or any Ancillary Document shall have the same legal effect, validity and enforceability as any paper original, (B) agrees that the Lender may, at its option, create one or more copies of this Agreement, any other Basic Document and/or any Ancillary Document in the form of an imaged electronic record in any format, which shall be deemed created in the ordinary course of such Person’s business, and destroy the original paper document (and all such electronic records shall be considered an original for all purposes and shall have the same legal effect, validity and enforceability as a paper record), (C) waives any argument, defense or right to contest the legal effect, validity or enforceability of this Agreement, any other Basic Document and/or any Ancillary Document based solely on the lack of paper original copies of this Agreement, such other Basic Document and/or such Ancillary Document, respectively, including with respect to any signature pages thereto and (D) waives any claim against any Lender-Related Parties for any Liabilities arising solely from the Lender’s reliance on or use of Electronic Signatures and/or transmissions by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page, including any Liabilities arising as a result of the failure of the Borrower to use any available security measures in connection with the execution, delivery or transmission of any Electronic Signature.
Section 7.12. Table of Contents; Headings. The table of contents and the section and subsection headings used herein have been inserted for convenience of reference only and do not constitute matters to be considered in interpreting this Agreement.
Section 7.13. Entire Agreement. This Agreement and the Fee Agreement represents the final agreement between the parties hereto with respect to the subject matter hereof and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties hereto as to such subject matter.
Section 7.14. Governing Law Waiver of Jury Trial.
(a) THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT UNDER, AND FOR ALL
PURPOSES SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF CALIFORNIA WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS PROVISIONS;
PROVIDED, THAT THE OBLIGATIONS OF THE LENDER HEREUNDER SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS PROVISIONS. (b) To the extent permitted by Applicable Law, each of the parties hereto waives its right to a jury trial of any claim or cause of action based upon or arising out of the basic documents or any of the transactions contemplated thereby, including contract claims, tort claims, breach of duty claims, and all other common law or statutory claims. if and to the extent that the foregoing waiver of the right to a jury trial is unenforceable for any reason in such forum, each of the parties hereto consents to the adjudication of all claims pursuant to judicial reference as provided in California Code of Civil Procedure Section 638, and the Judicial Referee is empowered to hear and determine all issues in such reference, whether fact or law. Each of the parties hereto represents that it has reviewed this Waiver and Consent and, following consultation with legal Agenda Page 239
67 counsel on such matters, knowingly and voluntarily waives its jury trial rights and consents to judicial reference. in the event of litigation, a copy of this Agreement may be filed as a written consent to a trial by the court or to judicial reference under California Code of Civil Procedure Section 638 as provided herein.
(c) The covenants and waivers made pursuant to this Section 7.14 are irrevocable and unmodifiable, whether in writing or orally, and are applicable to any subsequent amendments, renewals, supplements or modifications of this Agreement. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court.
Section 7.15. Government Regulations. The Borrower shall (a) ensure that no Person who owns a controlling interest in or otherwise controls the Borrower is or will be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control (“OFAC”), the Department of the Treasury or included in any Executive Order that prohibits or limits the Lender from making any advance or extension of credit to the Borrower or from otherwise conducting business with the Borrower and (b) ensure that the proceeds of LC Disbursements under the Letters of Credit are not used to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto.
Further, the Borrower shall comply, and cause any of its subsidiaries to comply, with all applicable Bank Secrecy Act laws and regulations, as amended.
Section 7.16. USA PATRIOT Act. The Lender notifies the Borrower that, pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow the Lender to identify the Borrower in accordance with the Act. The Borrower agrees to provide such documentary and other evidence of the Borrower’s identity as may be requested by the Lender at any time to enable the Lender to verify the Borrower’s identity or to comply with any Applicable Law or regulation, including, without limitation, the Patriot Act.
Section 7.17. Electronic Transmissions. Without limiting Section 7.11(b) hereof, the Borrower hereby authorizes the Lender to accept and process any amendments, transfers, assignments of proceeds, LC Disbursements, consents, waivers and all documents relating to the Letters of Credit which are sent to Lender by electronic transmission, including SWIFT, electronic mail, telex, telecopy, courier, mail or other computer generated telecommunications, and such electronic communication will have the same legal effect as if written and will be binding upon and enforceable against the Borrower. The Lender may, but shall not be obligated to, require authentication of such electronic transmission or that the Lender receives original documents prior to acting on such electronic transmission.
Section 7.18. Assignment to Federal Reserve Bank. The Lender may assign and pledge all or any portion of the obligations owing to it hereunder to any Federal Reserve Bank or the United States Treasury as collateral security pursuant to Regulation A of the Board of Governors of the Federal Reserve System and any Operating Circular issued by such Federal Reserve Bank, provided that any payment in respect of such assigned obligations made by the Borrower to the Lender in accordance with the terms of this Agreement will satisfy the Borrower’s obligations Agenda Page 240
68 hereunder in respect of such assigned obligation to the extent of such payment. No such assignment will release the Lender from its obligations hereunder.
Section 7.19. Arm’s Length Transaction. The transactions described in this Agreement are arm’s length, commercial transactions between the Borrower and the Lender in which: (i) the Lender is acting solely as a principal (i.e., as a lender) and for its own interest; (ii) the Lender is not acting as a municipal advisor or financial advisor to the Borrower; (iii) the Lender has no fiduciary duty pursuant to Section 15B of the Securities Exchange Act of 1934 to the Borrower with respect to these transactions and the discussions, undertakings and procedures leading thereto (irrespective of whether the Lender or any of its Affiliates has provided other services or is currently providing other services to the Borrower on other matters); (iv) the only obligations the Lender has to the Borrower with respect to these transactions are set forth in the Basic Documents and the Letters of Credit; and (v) the Lender is not recommending that the Borrower take an action with respect to the transactions described in this Agreement and the other Basic Documents, and before taking any action with respect to the this transaction, the Borrower should discuss the information contained herein with the Borrower’s own legal, accounting, tax, financial and other advisors, as the Borrower deems appropriate.
[SIGNATURE PAGES FOLLOW]
Agenda Page 241
Signature Page to Revolving Credit Agreement
IN WITNESS WHEREOF, the Borrower and the Lender have duly executed this Agreement as of the date first written above.
CLEAN POWER ALLIANCE OF SOUTHERN
CALIFORNIA
By: ____________________________________
Name: Theodore Bardacke
Title: Executive Director
Agenda Page 242
Signature Page to Revolving Credit Agreement
JPMORGAN CHASE BANK, NATIONAL
ASSOCIATION
By: ____________________________________
Name: Allyson Goetschius
Title: Executive Director
Agenda Page 243
Exhibit A Page 1
EXHIBIT A
FORM OF OPINION OF CHAPMAN & CUTLER LLP
[Opinion to address: Existence and good standing of CPA; CPA has received all consents and approvals of Governmental Authorities to act as a CCA; power and authority of CPA to (1) be a CCA, (2) execute, deliver and perform the Basic Documents and (3) own and operate the Enterprise; all consents necessary to execute, deliver and perform the Basic Documents have been obtained; execution, delivery and performance of the Basic Documents will not violate the JP Agreement or CPA’s bylaws or the Act; the Basic Documents are enforceable again CPA; and the pledge of Net Revenues in the Agreement is a valid pledge.] Agenda Page 244
Exhibit B Page 1
EXHIBIT B
FORM OF COMPLIANCE CERTIFICATE
This Compliance Certificate (this “Certificate”) is furnished to JPMorgan Chase Bank, National Association (including its successors and assigns, the “Lender”) pursuant to the Revolving Credit Agreement, dated as of September 22, 2021 (together with all amendments and supplements thereto, the “Agreement”), by and between the Clean Power Alliance of Southern California (including its successors and assigns, the “Borrower”) and the Lender. Unless otherwise defined herein, the terms used in this Certificate have the meanings assigned thereto in the Agreement.
THE UNDERSIGNED HEREBY CERTIFIES THAT:
1. I am an Authorized Representative of the Borrower;
2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under my supervision, a detailed review of the transactions and conditions of the Borrower during the accounting period covered by the attached financial statements;
3. The examinations described in paragraph 2 did not disclose, and I have no knowledge of, the existence of any condition or the occurrence of any event which constitutes a Default or Event of Default during or at the end of the accounting period covered by the attached financial statements or as of the date of this Certificate, except as set forth below; and
4. The financial statements required by Section 5.1(a) of the Agreement and being furnished to you concurrently with this certificate fairly represent the consolidated financial condition of the Borrower in accordance with GAAP as of the date and for the period covered thereby.
[Describe below the exceptions, if any, to paragraph 3 by listing, in detail, the nature of the condition or event, the period during which it has existed and the action which the Borrower has taken, is taking, or proposes to take with respect to each such condition or event:
________________________________________________________________________ ________________________________________________________________________ _______________________________________________________________________ ]
5. The Debt Service Coverage Ratio Notice is attached hereto. [Remainder of page intentionally left blank]
Agenda Page 245
Exhibit B Page 2
The foregoing certifications and the financial statements delivered with this Certificate in support hereof, are made and delivered this ____ day of _____________, 20__.
CLEAN POWER ALLIANCE OF SOUTHERN
CALIFORNIA
By: ____________________________________
Name: ______________________________
Title: _______________________________
Agenda Page 246
Exhibit C Page 1
EXHIBIT C
FORM OF BORROWING REQUEST
_____________, 20__
JPMorgan Chase Bank, National Association
JPM-Delaware Loan Operations
500 Stanton Christiana Road, NCC5, Floor 01
Newark, DE 19713-2107
Attention: PFG Servicing
Telephone: (302) 634-9627
Email/Fax: [email protected]
JPMorgan Chase Bank, National Association
383 Madison Avenue, 3rd Floor
New York, New York 10179
Mail Code: NY1-M076
Attention: Allyson Goetschius or Janice Fong
Telephone: (212) 270-0335 or (212) 270-3762
Facsimile: (917) 849-0272
Email: [email protected] or [email protected] Ladies and Gentlemen:
The undersigned refers to the Revolving Credit Agreement, dated as of September 22, 2021 (together with any amendments or supplements thereto, the “Agreement”), by and between Clean Power Alliance of Southern California (with its successors and assigns, the “Borrower”) and JPMorgan Chase Bank, National Association (with its successors and assigns, the “Lender”) (the terms defined therein being used herein as therein defined) and hereby requests, pursuant to Section 2.3 of the Agreement, that the Lender make a Loan under the Agreement and disburse such funds as set forth in #5 below, and in that connection sets forth below the following information relating to such Loan (the “Proposed Loan”):