MINUTES
Board of Directors of the
Clean Power Alliance of Southern California
Regular Meeting
Thursday, March 5, 2026, 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
Closed Session Room
100 Civic Center Way
Calabasas, CA 91301
Clean Power Alliance
Diana Mahmud Board Room
801 S. Grand Ave., Suite 400
Los Angeles, CA 90017
South Bay Cities Council of Governments
Conference Room
357 Van Ness Way, Suite 90
Torrance, CA 90501
Ventura County Government Center
Rincon Meeting Room, Hall of Administration
800 South Victoria Avenue
Ventura, CA 93009
Beverly Hills City Hall
Conference Room 4A
455 North Rexford Drive
Beverly Hills, CA 90210
Whittier City Hall
Admin Conference Room
13230 Penn Street
Whittier, CA 90602
CALL TO ORDER & ROLL CALL
Chair Klein Lopez called the meeting to order at 2:01 p.m. and Gabriela Monzon, Clerk of the Board, conducted roll call. Director Newman attended this meeting pursuant to Section 54953 (c) of the Government Code.
PLEDGE OF ALLEGIANCE
Director Hernandez led the Pledge of Allegiance.
Roll Call
1 Agoura Hills Deborah Klein Lopez Chair Present
2 Alhambra Jeff Maloney Director Present
3 Arcadia Absent
4 Beverly Hills Craig Corman Director Remote
5 Calabasas Ed Albrecht Director Remote
6 Camarillo Susan Santangelo Director Remote
7 Carson Cedric Hicks Director Remote
8 Claremont Corey Calaycay Director Present
9 Culver City Yasmine-Imani McMorrin Director Present
10 Downey Horacio Ortiz Alternate Remote
11 Hawaiian Gardens Ramie L. Torres Alternate Remote
12 Hawthorne Alex Monteiro Director Remote
13 Hermosa Beach Ray Jackson Director Remote
14 La Cañada Flintridge Stephanie Fossan Director Present 15 Los Angeles County Lindsey Horvath Vice Chair Present 16 Lynwood Juan Muñoz-Guevara Director Present
17 Malibu Marianne Riggins Director Present
18 Manhattan Beach David Lesser Director Remote
19 Monrovia Edward Belden Director Remote
20 Moorpark Chris Barrett Director Remote
21 Ojai Michelle Ellison Alternate Remote
22 Oxnard Absent
23 Paramount Michelle Muller Alternate Remote
24 Port Hueneme Laura Hernandez Director Present
25 Redondo Beach Brad Waller Director Remote
26 Rolling Hills Estates Debby Stegura Director Remote
27 Santa Monica Absent
28 Santa Paula Jenny Crosswhite Director Present
29 Sierra Madre Robert Parkhurst Director Present
30 Simi Valley Rocky Rhodes Director Present
31 South Pasadena Omari Ferguson Director Present
32 Temple City Ed Chen Director Present
33 Thousand Oaks David Newman Director Remote
34 City of Ventura Ryyn Schumacher Director Remote
35 Ventura County Vianey Lopez Vice Chair Present
36 West Hollywood Absent
37 Westlake Village Absent
38 Whittier Mary Ann Pacheco Director Remote
All votes are unanimous unless otherwise stated.
GENERAL PUBLIC COMMENT
None.
CONSENT AGENDA
1. Approve Minutes from February 5, 2026, Board of Directors Meeting
2. Adopt Resolution No. 26-03-102 Authorizing and Approving the Extension of the Maturity Date of the Revolving Line of Credit Agreement with J.P. Morgan and Certain other Amendments to the Credit and Fee Agreements Related Thereto, and Delegating Authority to CPA’s Authorized Representatives to Execute and Deliver Such Amendment and other Documents Related Thereto
3. Approve and Authorize the Chief Executive Officer to Execute a Memorandum of Understanding for a Pre-Apprenticeship Training Program with the Workforce Development Board of Ventura County for a Two-Year Term in the Amount of $481,059
4. A. Approve a Non-Social Security Retirement Contribution of 14% for Current Employees that Elect to opt out of Social Security and Authorize CPA to Engage in a Section 218 Agreement Process; and,
B. Adopt Resolution No. 26-03-103 to Approve the Divided Vote Election for Employee Social Security Benefits
5. Receive and File FY 2025-26 Q2 Financial Report
6. Receive and File Q4 2025 Risk Management Team Report
7. Receive and File Q1 2026 Member Agency Programs Report
8. Receive and File Monthly Community Advisory Committee Report Motion: Director Rhodes, Simi Valley
Second: Director Calaycay, Claremont
Vote: The consent agenda was approved by roll call vote, with abstentions from Directors Corman and Newman on Item 1.
REGULAR AGENDA
9. Adopt Resolution No. 26-03-104 Approving Amendments to the Financial Reserve Policy and Fiscal Stabilization Fund Policy
David McNeil, Chief Financial Officer, explained that the proposed policy amendments are intended to improve CPA’s financial governance. Amendments will increase the Days Liquidity on Hand (DLOH) target from 120 days to a range of 150-240 days, clarifying measurement practices for reserves, and making administrative updates. The changes would also raise the maximum Fiscal Stabilization Fund (FSF) balance from 10% to 20% and provide greater flexibility for the CEO to transfer funds into the FSF during strong financial years without reducing the net position. While these amendments do not affect the existing reserve target of 30-50% of operating expenses or the Board’s authority over rate setting and budgeting, they enhance CPA’s ability to manage financial volatility and competitiveness. CPA has utilized the FSF over the past several years to defer revenue in years with strong financial results. Director Santangelo, Finance Committee Chair, added that the committee unanimously supported the proposed amendments.
In response to Director Rhodes’ questions about cash on hand and lines of credit (LOC) and whether the Reserve Policy should establish a cash target, staff responded that the credit agencies focus on DLOH, which is composed of CPA’s bank LOC and cash reserves. CPA has 150 days of DLOH and 37 days of LOC.
In the event of a cash shortfall, CPA could make it up by increasing the bank LOC but with a cash target requirement, CPA would have less flexibility to meet its DLOH targets. Director Ferguson asked about the factors considered in setting the DLOH target and what other CCAs have established. Mr. McNeil explained that the DLOH target was calculated using robust scenario modeling based on risks in the energy markets; CCAs with more liquidity on hand are those with more commercial customers, and commercial loads are more price sensitive. Director Fossan requested more information on the modeling and forecasting to increase the Board’s understanding of potential future risks. Staff indicated that they would provide this information in the future.
In response to Director Hicks’ questions, staff clarified that CPA exceeded the 4% reserve contribution in the last two fiscal years, leading to the FSF reaching the $135 million (10% cap). A policy amendment is needed to allow more flexibility in response to factors like PCIA and rate competitiveness. Staff also clarified that increasing FSF funds would not negatively impact CPA’s credit, as rating agencies focus on overall financial performance. In response to Director Hicks’ inquiry about increasing the FSF balance target beyond 20%, staff stated that 20% provides enough flexibility. Director Hicks emphasized the need to consider broader discussions around CPA’s potential expansion, which could require adjustments to reserve policies.
Motion: Director Hicks, Carson
Second: Director Ferguson, South Pasadena
Vote: Item 9 was approved by a roll call vote.
10. Adopt Resolution 26-03-105 Approving a TOU-SMART Pilot Karen Schmidt, Senior Director, Rates and Strategy, presented a proposed two-year TOU-SMART pilot program developed in collaboration with UCLA researchers, to evaluate how lower daytime electricity rates and targeted messaging influence customer energy use and encourage load shifting. The pilot would default 4,200 customers—selected from a pool of 36,000 non-NEM TOU-D-PRIME customers with high electricity usage—onto a new rate structure with lower super off-peak rates, offset by increased off-peak rates, reflecting lower daytime energy costs and emissions due to solar availability. Customers would be able to opt out at any time and receive full bill protections. Insights will also consider differences across customer segments, housing types, and income levels to support equitable program design.
The pilot incorporates Board feedback and input from Professor Magali Delmas of UCLA, to ensure statistically meaningful and actionable results. It will analyze customer responsiveness to pricing, the persistence of behavioral changes, and the effectiveness of different messaging strategies, while also exploring broader impacts on rate design and customer programs. Implementation would begin in mid-2026 with customer outreach, followed by pilot launch in October 2026. After one year, customers will receive communications indicating full-year performance and options if they did not benefit. Staff seeks Board approval to proceed, with additional rate adjustments and budget allocations to be considered as part of the upcoming fiscal year planning process.
Vice Chair Horvath thanked staff for providing helpful customer scenarios, and suggested promoting the program as the first of its kind, emphasizing the benefits to the community. Director Crosswhite shared she experienced challenges with the EV app compatibility and staff confirmed that CPA’s Smart Charge Program will be updated to align with the pilot to support super off-peak hours. Staff also noted they use clearer terms like ‘disenroll’ or ‘discontinue participation’ when addressing customer opt-outs from the program to reduce confusion.
Director Parkhurst expressed support for the pilot; asked how low-income customers will benefit. Staff responded that low-income customers will participate in the program, and the insights from the pilot will improve outreach and program design for their benefit. Director Ferguson asked about climate zone considerations, and staff confirmed participants will represent a range of climate zones for analysis.
Director Fossan asked about maintaining a zero daytime rate after the pilot; staff said the research will help determine feasibility, noting potential overall cost savings that could offset lost revenue and benefit both CPA and customers. She also inquired about contingency plans if the pilot proves costly or other challenges arise. Staff emphasized their ability to adjust the program during the pilot period but that drawing conclusions too quickly and adjusting could limit understanding of long-term customer behavior change. Director Fossan cautioned that results based on zero rates may have limited applicability if rates change in the future.
Director Albrecht voiced support, noting that many EV owners already adjust charging behavior. Director Schumacher asked about opt-outs and opt-ins, and staff said opting out will be easy while opt-ins may not include bill protection. He also raised questions about program discontinuation, suggesting staff plan for customer transitions if needed.
Director Waller advised staff to anticipate conflicting messaging from SCE and inquired about bill protection details. Staff responded that a 12-month bill protection period allows cost fluctuations to balance out and ensures customers receive credits if overpaying. Chair Klein Lopez noted there will be opportunities for Board feedback as the pilot moves forward.
Motion: Vice Chair Horvath, Los Angeles County
Second: Director Parkhurst, Sierra Madre
Vote: Item 10 was approved by a roll call vote.
11. Receive Presentation on a Contract Pricing Program and Provide Feedback Matt Langer, Chief Operating Officer, explained that CPA faces growing risk of losing commercial customers to Direct Access (DA) providers, with up to 2,000 non-residential customer accounts potentially departing in 2026 as interest rises for high levels of renewables at predictable and/or fixed rates. In response, staff is exploring a Contract Pricing Program that would offer eligible customers tailored pricing options such as fixed or market-based rates, while ensuring financial viability and maintaining CPA’s ability to deliver 100% renewable energy. The program would primarily target customers who’ve won the DA lottery or those not recently served by CPA, aiming to retain and attract large commercial accounts.
The proposed program would include flexible contract terms, customized rates based on customer load profiles, margin requirements, participation caps, rate products, and rates. Staff is also evaluating key implementation factors such as risk mitigation, customer creditworthiness, load caps, contract conditions, and competitiveness in the face of market volatility. The Executive Committee supported the proposal. Staff seeks feedback from the Board and will return at a future date with a comprehensive program proposal. Mr. Langer also thanked staff members Jennifer Giles and Karen Schmidt for their role in program development.
Director Newman encouraged staff to emphasize CPA’s value proposition, such as the ability to offer 100% renewable power, rate consistency, and other advantages. Director Ferguson inquired about customer load and distribution delivery charges and a program cap. Staff stated that a load minimum is yet to be determined; regarding other charges, customers would be responsible for paying PCIA and delivery charges applicable to their tariff. As for the percentage cap, staff is running calculations, but it may not mirror SCE. Director Parkhurst praised the proposal and thanked staff for their work.
12. Open Nomination Period for Board Chair for a Two-Year Term Beginning July 2026 and Ending June 2028
Chair Klein Lopez announced the open nomination for Board Chair for a two-year term beginning July 2026 and ending June 2028. Eligibility requirements were provided in the staff report. Chair Klein Lopez invited nominations.
Vice Chair Horvath nominated Director Robert Parkhurst, Chair of the Energy Committee; praised his leadership on the Energy Committee and in his city of Sierra Madre through the Eaton Fire. Director Lesser commented that Director Parkhurst has been a collaborative Chair of the Energy Committee.
COMMITTEE CHAIR UPDATES
Director Santangelo, Finance Committee, provided a report on CPA’s sixth pre-pay bond transaction, generating roughly $66 million in renewable energy cost savings during the bond's initial 10-year period. The Finance Committee also reviewed financial performance.
Director Hicks, Legislative and Regulatory Committee, reminded the Board of CPA’s Lobby Day and thanked colleagues who plan to participate.
Director Parkhurst, Energy Committee, reported that the committee received an update on the second round of the Innovation Solicitation; an RFO review team will review one bid later this year.
MANAGEMENT REPORT
Ted Bardacke, Chief Executive Officer, announced several upcoming community events; encouraged Board members to attend the CalCCA annual conference, and announced the CPA Board retreat will be on September 18, 2026. CPA’s overall participation rate was at 92.8%, indicating customers are not opting out of CPA, even as electricity prices fluctuate. The CPUC has officially certified the cities of Fillmore and Cudahy to join CPA in 2027. He concluded with a report on the Middle East conflict, noting that while oil prices have been immediately impacted, domestic natural gas prices have remained low so far and therefore electricity costs have seen limited impact.
BOARD MEMBER COMMENTS
None.
REPORT FROM THE CHAIR
None.
ADJOURN
Chair Klein Lopez adjourned the meeting at 4:08 p.m.