Clean Power Alliance Board of Directors
April 2, 2026

Board of Directors of the
Clean Power Alliance of Southern California
Regular Meeting
Thursday, April 2, 2026
2:00 p.m.

Visit CPA’s YouTube Channel to view a Live Stream of the Meeting www.youtube.com/@CPApublicmeetings
*There may be a streaming delay of up to 90 seconds. This is a view-only live stream.

Clean Power Alliance
Diana Mahmud Board Room
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
Closed Session Room
100 Civic Center Way
Calabasas, CA 91301
Ventura County Government Center
CEO Point Mugu Meeting Room
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
357 Van Ness Way, Suite 90
Torrance, CA 90501
Beverly Hills City Hall
Conference Room 4A
455 North Rexford Drive
Beverly Hills, CA 90210
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.

Agenda Page 1
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.

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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 the March 5, 2026, Board of Directors Meeting

2. Approve CPA’s Portion of the CalCCA Special Assessment for SCE’s 2024, 2025, and 2026 Energy Resource Recovery Account (ERRA) Review and 2027 and 2028 ERRA Forecast Applications for a Total Not-to-Exceed (NTE) Amount of $574,860, which includes a NTE Amount of $330,000 for Keyes & Fox, and a NTE Amount of $244,860 for NewGen Strategies, LLC for Services Performed from April 3, 2026 to December 31, 2027

3. Receive and File Monthly Bill Positions Report

4. Receive and File Monthly Community Advisory Committee Report

REGULAR AGENDA
Election Item

5. Elect a Board Chair to Serve a Term from July 2026 to June 2028 Action Items

6. Direct Staff to (A) Proceed with Activities Necessary to Operationalize CPA’s Ownership of Assets and Delivery Approach for Power Ready Round 2 and (B) Return to the Board for Approval of the Potential Sites, the Proposed Budget, Agenda Page 2
and Other Actions Necessary to Effectuate the Launch of the Procurement of Services

7. Direct Staff to Prepare and Present to the Board for Approval:
(A) Annual Budgets for Both Fiscal Years 2026-27 and 2027-28; and, (B) A Budget Policy that Includes Controls for Transfers and Reporting as Described in the Item
Information Item

8. Receive Presentation on FY 2026-27 Rates Outlook

COMMITTEE CHAIR UPDATES
Director Cedric Hicks, Chair, Legislative & Regulatory Committee Director Susan Santangelo, Chair, Finance Committee
Director Robert Parkhurst, Chair, Energy Planning & Resources Committee

MANAGEMENT REPORT

BOARD MEMBER COMMENTS

REPORT FROM THE CHAIR
ADJOURN – NEXT REGULAR MEETING APRIL 2, 2026
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: Approve Minutes from the March 5, 2026, Board of Directors Meeting
Date: April 2, 2026

RECOMMENDATION
Approve.

ATTACHMENT

1. Minutes

Agenda Page 6
Board of Directors Item 1

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
Agenda Page 7
Board of Directors Item 1
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.

Agenda Page 8
Board of Directors Item 1

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.

Agenda Page 9
Board of Directors Item 1
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.

Agenda Page 10
Board of Directors Item 1
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.

Agenda Page 11
Board of Directors Item 1
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.

Agenda Page 12
Board of Directors Item 1

BOARD MEMBER COMMENTS
None.

REPORT FROM THE CHAIR
None.

ADJOURN
Chair Klein Lopez adjourned the meeting at 4:08 p.m.

Agenda Page 13
Staff Report – Agenda Item 2
To: Board of Directors
From: CC Song, Senior Director, Regulatory Affairs
Reviewed by: Matthew Langer, Chief Operating Officer
Nancy Whang, General Counsel
Approved By: Ted Bardacke, Chief Executive Officer
Subject: CalCCA Special Assessment for SCE ERRA Review and Forecast Applications
Date: April 2, 2026

RECOMMENDATION
Approve CPA’s portion of the CalCCA Special Assessment for SCE’s 2024, 2025, and 2026 Energy Resource Recovery Account (ERRA) Review and 2027 and 2028 ERRA Forecast Applications for a total not-to-exceed (NTE) amount of $574,860, which includes a NTE amount of $330,000 for Keyes & Fox, and a NTE amount of $244,860 for NewGen Strategies, LLC for services performed from April 3, 2026 to December 31, 2027.

BACKGROUND
Each year CPA engages in SCE’s Energy Resource Recovery Account (ERRA) Review and Forecast applications to the CPUC. These applications are where the Power Charge Indifference Adjustment (PCIA) and SCE generation rates are set and validated, thus impacting both CPA customer bills and CPA’s overall competitiveness.

Since 2023, CPA has shared the costs of engaging in SCE’s ERRA applications with the other four CCAs in SCE territory: Central Coast Community Energy, California Choice Energy Authority, Desert Community Energy, and Orange County Power Authority.

CalCCA facilitates the cost-sharing arrangement by managing the invoices and funding

Agenda Page 14
Board of Directors Item 2
disbursements for these contracts on behalf of the CCAs, with close consultation of CPA staff. This arrangement is implemented through a Special Assessment between CalCCA and each CCA that dictates the proportional share of the total cost funded by each CCA.

DISCUSSION
ERRA cases at the CPUC can take several years to reach a final conclusion. Therefore, multiple Special Assessments covering multiple active ERRA cases can exist at the same time, causing administrative challenges. For example, in 2025, the Special Assessment for 2022 ERRA Review was still active at the same time as the Special Assessment for 2024 ERRA Review and 2026 ERRA Forecast was assessed. This year, CalCCA has proposed to simplify accounting and tracking by combining all of the ERRA Review and Forecast applications into one Special Assessment and begin transitioning from one-year to two-year Special Assessments.

As a result of this transition, the Board is being asked to approve a two-year Special Assessment from CalCCA for CPA in the amount of $577,500, consisting of $316,140 for 2026 and $261,360 for 2027, comparable to the approved 2025 Special Assessments totaling $268,800. These amounts are split amongst outside counsel, Keyes and Fox, and consultant, NewGen Strategies, as shown in the table below. 2025
(for reference)
2026 2027
Keyes and Fox $160,000 $191,400 $138,600
NewGen Strategies $108,800 $123,420 $121,440
Total $268,800 $314,820 $260,040
The 2026 annualized costs for Keyes and Fox and NewGen Strategies are higher compared to 2025 and 2027 because of the inclusion of the unresolved 2024 ERRA Review Application, which is expected to be resolved in Q2 or Q3 in 2026 based on the CPUC’s schedule.

Agenda Page 15
Board of Directors Item 2
Keyes & Fox and NewGen Strategies are continuing as CalCCA’s vendors because their engagement in prior ERRA proceedings has resulted in significant savings to CPA and its customers.

FISCAL IMPACT
The costs of the Special Assessment are included in CPA’s FY 2025-2026 budget and will be proposed in the FY 2026-2027 and 2027-2028 budgets. Approving this special assessment will not incur incremental fiscal impact beyond what has been budgeted, and staff will incorporate the approved costs in FY 2026-2027 and 2027-2028 in the forthcoming budget.

ATTACHMENT

1. CalCCA Special Assessment Letter

Agenda Page 16
California Community Choice Association
1121 L St. Suite 400, Sacramento, CA 95814 | [email protected] | cal-cca.org California Community Choice Association
SCE ERRA Special Assessment Funding
(April 2, 2026 - December 31, 2027)
Dear Director Bardacke
On April 2, 2026 the Directors of California Choice Energy Authority, Clean Power Alliance, Central Coast Community Energy, Orange County Power Authority, and Desert Community Energy unanimously approved having CalCCA manage the Southern California Edison ERRA proceedings through December 31, 2027 on behalf of the five CCAs as a Special Assessment outside of the typical annual Operational Membership dues.

The table below details your CCA’s total financial obligation.

SCE CCAs
% of SCE ERRA
Special
Assessment
Budget
Keyes & Fox
Contract
NewGen
Contract
Total
Contribution
per CCA
Total Quarterly
Invoice per CCA
(7 invoices)
$500,000 $371,000 $817,000
3CE 3% $15,000 $11,130 $26,130 $3,732.86
CalChoice 15% $75,000 $55,650 $130,650 $18,664.29
CPA 66% $330,000 $244,860 $574,860 $82,122.86
DCE 2% $10,000 $7,420 $17,420 $2,488.57
OCPA 14% $70,000 $51,940 $121,940 $17,420.00
Quarterly payment invoices in the amount listed above will be sent on the first of the month prior to the start of the Fiscal Year Quarter (December, March, June, September) from the CalCCA QuickBooks system to your contact(s) on file. Payments are due 30 days after receipt of the invoice, prior to the start of the Fiscal Year Quarter.

Please do not hesitate to contact me if you have any questions. We truly appreciate your contribution to the work of CalCCA and look forward to the year ahead.

Thank you,
Martha Serianz
Director of Finance and Human Resources

Agenda Page 17
2 California Community Choice Association
510-290-4187
[email protected]

Agenda Page 18
Staff Report – Agenda Item 3
To: Board of Directors
From: Gina Goodhill, Senior Director, Government Affairs Approved By: Ted Bardacke, Chief Executive Officer
Subject: Receive and File April 2026 Bill Positions Report Date: April 2, 2026

RECOMMENDATION
Receive and file.

ATTACHMENT

1. 2026 Legislative and Regulatory Policy Platform
Agenda Page 19
Board of Directors Item 3
Bill Number &
Author
Title & Summary Status CPA Position Alignment with
CPA Policy
Platform
Notes
AB 2396
Assemblymember Jacqui
Irwin
Community choice
aggregators: electric
transmission lines Would
authorize a CCA to develop,
finance, construct, operate,
lease purchase and maintain
electric transmission lines in
order to reduce overall
electricity system costs.
3/19/2026
Will be heard in
the Assembly
Utilities and
Energy
Committee on
4/8/26
Sponsor 1g Stemming from
direction at the 2025
Board retreat, this
CPA sponsored bill
would allow CCAs to
take advantage of
tax-exempt debt to
bring down the cost
of transmission lines
by approximately
20%, savings that
would be passed on
to ratepayers.

AB 1761
Assemblymember Chris
Rogers
Electricity: calculation
methodology: data
disclosure
Would require the CPUC or
IOUs to share all data
underlying the Power Charge
Indifference Adjustment
(PCIA) with CCAs.
3/19/26
Passed out of
Assembly
Committee on
Utilities and
Energy, referred
to Assembly
Appropriations
Committee
Support 1a, 4a The California
Community Choice
Association
(CalCCA) is
sponsoring this
legislation, which will
allow CCAs to ensure
PCIA calculations are
accurate and CCA
customers are not
overcharged.

Agenda Page 20
Board of Directors Item 3
SB 1138
Senator Steve Padilla
Load-serving entities:
resource adequacy
requirements. Would give
CCAs and other load-serving
entities (LSEs) flexibility to
transact Resource Adequacy
(RA) load obligations at the
hourly level.
2/26/26
Referred to
Senate
Committee on
Energy, Utilities
and
Communication
Support 2a This CalCCA
sponsored bill would
correct a mismatch
between how LSE’s
RA obligations are
calculated and how
LSEs buy and sell
RA. It could annually
save millions of
dollars on
unnecessary costs
for ratepayers.

SB 868
Assemblymember Scott
Wiener
Electricity: portable solar
generation devices. Would
exempt portable solar
devices from state law and
electric utility rules regarding
interconnection requirements
3/24/26
Referred to
Senate
Appropriations
Committee
Watch 3a, 5c This bill would
exempt plug-in solar
panels, also known
as balcony solar,
from typical
interconnection
requirements from a
utility, electrician or a
building code official.

While popular in
many parts of
Europe, balcony
solar is typically not
allowed in the US
without utility
Agenda Page 21
Board of Directors Item 3
approval, and
therefore not as
prevalent.

AB 2313
Assemblymember Marc
Berman
Gas corporations: gas
distribution service line
replacements: alternatives
Would require gas utilities to
offer a Gas Distribution
Service Line Replacement
Alternative Program.
3/09/26
Referred to
Assembly
Committee on
Utilities and
Energy
Watch 3b, 5a Also known as the
Home Energy Choice
Act, this bill would
allow a gas customer
facing a planned or
forecasted gas
service line
replacement to their
home to discontinue
gas service and
instead choose a
voluntary incentive to
electrify their home.

Agenda Page 22
2026 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, including bills that would modify the California Environmental Quality Act (CEQA); bills that would directly 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.

2. Pursuing power resource planning and procurement that promotes the growth in renewable energy capacity at the local, state, and regional level and reduces fossil fuel dependency, with the goal of combating climate change.

3. Developing and administering customer programs that encourage clean energy adoption by CPA customers and the use of that clean energy in an efficient and managed way to support cost reduction and grid reliability.

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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 platform below.

Policy Platform

1. Affordability and Local Control
a. Cost allocation: CPA will pursue administrative and legislative initiatives that will ensure that non-bypassable charges for CPA customers, including any income-based fixed charges, are assessed fairly compared to bundled customers. b. Fair rates: CPA will engage in legislative initiatives that seek to ensure that rates are reasonable and transparent, and that balance evolving wildfire and grid hardening needs with affordability.
c. 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 is not disparately impacted by new regulations. d. CCA Expansion: CPA will pursue administrative and legislative initiatives to protect CPA’s ability to expand its service to new member agencies. e. Customer Acquisition: CPA will pursue administrative and legislative initiatives that preserve the CCA model as the default service provider for all eligible customers in its service territory.
f. Local Control: CPA will pursue administrative and legislative initiatives to protect CPA Board’s authority over CPA’s procurement, rate-setting, governance, and customer program development activities.
g. Infrastructure Financing: CPA will pursue administrative and legislative initiatives that support alternative approaches to financing energy infrastructure that reduce costs for all customers.

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

Agenda Page 24
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.
b. Renewable and Carbon-Free Resources: CPA will pursue administrative and legislative initiatives that will maximize CPA’s ability to procure eligible Renewable Portfolio Standard (RPS) and carbon-free 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, as well as providing CPA adequate and equal access to transmission capacity. c. 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.
d. Customer Interconnection: CPA will pursue administrative and legislative initiatives that support reducing timelines in interconnection and service extensions for new construction, critical services, renewable energy, building decarbonization, and other projects in CPA’s service territory. e. 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.
f. Grid Reliability: CPA will pursue administrative and legislative initiatives that support the expansion of a regional Western energy grid that improves reliability; accelerates decarbonization; improves transmission planning; reduces costs for ratepayers and load serving entities; maintains California’s ability to set, meet and implement its own climate goals; and protects clean energy jobs within the State.

3. Customer Programs
a. Demand Response, Demand Flexibility and Energy Efficiency: CPA will pursue administrative and legislative initiatives that will enable CPA and its customers

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to develop and participate in programs that promote the use of clean energy in an efficient and managed way to support cost reduction, grid reliability, and lower greenhouse gas emissions.
b. Building and vehicle decarbonization: CPA will pursue administrative and legislative initiatives that support the ability of CPA to promote statewide building and vehicle decarbonization, primarily through electrification. c. Local Grid Management and Resiliency: CPA will pursue administrative and legislative initiatives that support 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. d. Research and Development: CPA will pursue administrative and legislative initiatives that support 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, inform the development and implementation of customer programs, and properly plan for procurement needs.
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, potential technological improvements, and other factors. c. Billing Transparency: CPA will pursue administrative and legislative initiatives that increase customer understanding of electricity bill components and display electricity charges in a clear and consistent manner for both bundled and unbundled customers.

5. Diversity, Equity, Inclusion
a. Protecting vulnerable customers: CPA will pursue administrative and legislative initiatives that support healthy communities, particularly environmental and social justice communities in CPA’s service territory.
b. Supplier Diversity: CPA will pursue administrative and legislative initiatives that support supplier diversity in CPA’s contracting activities and through women-

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owned, minority-owned, disabled-veteran-owned, and lesbian, gay, bisexual, and/or transgender owned business enterprises.
c. Energy Equity: CPA will pursue administrative and legislative initiatives that support increased access to clean energy technologies, workforce development initiatives that support the clean energy industry, and clean energy opportunities for environmental and social justice communities in CPA’s service territory.

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Staff Report – Agenda Item 4
To: Board of Directors
From: Christian Cruz, Senior Community Outreach Manager Reviewed by: Francis Choi, Assistant General Counsel
Approved by: Ted Bardacke, Chief Executive Officer
Subject: Community Advisory Committee (CAC) Report
Date: April 2, 2026

RECOMMENDATION
Receive and file.

MEETING REPORT
CPA Programs Quarterly Update
The CAC received a presentation on CPA’s programs, including Workforce Training, Power Share, and Community Solar. In this quarterly update, staff highlighted program metrics, portfolio impacts, and participation levels. Key highlights included:
• Workforce Training: 95 students graduated from Multi-Craft Core Curriculum (MC3) pre-apprenticeship trainings in 2025.
• Power Share: CPA contracted with four new local solar projects and has now filled the remaining energy capacity for the program, totaling 19.815 MW. • Community Solar: The program has three operational projects (two in Pico Rivera and one in Carson), with a fourth project in Carson expected to come online in mid-2026.

The CAC also received an update on CPA’s support for wildfire recovery. Staff highlighted the following for the CAC:
• CPA Sun Storage Rebates Reliability + incentive, offering up to $2,250 for the installation of battery storage paired with solar for residential customers in high fire threat communities.

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Board of Directors Item 4
• CPA added new home hardening support through The Energy Team, providing residential customers with a virtual assessment and consultation to identify fire risks and receive an action plan to mitigate wildfire risk while improving energy efficiency.
• In partnership with the U.S. Green Building Council, CPA held seven Wildfire Defense Professionals trainings, serving 144 contractor attendees.

The presentation also included an overview of CPA’s recently launched comprehensive webpage, which provides information on key customer programs and offerings, practical resources, and community-focused initiatives that will help customers prepare for wildfire threats and respond during emergencies.

Marketing and Communications Quarterly Update
The CAC also received a quarterly update on CPA's Marketing and Communications. The update included CPA’s focus areas for 2026 related to marketing and communications.

Specifically, CPA will focus on three pillars:
• Awareness: CPA efforts will focus on increasing visibility of CPA programs through targeted marketing campaigns, event activations, media outreach, and monthly newsletters to ensure consistent and broad communication with customers.
• Engagement: CPA engagement strategies will center on supporting community events and strengthening program participation through interactive tools, social media outreach, and enhanced research to better understand and respond to customer needs. These efforts will also include improvements to the homepage and overall website navigation to create a more user-friendly experience. • Education: CPA educational initiatives will include the development of a dedicated wildfire resources webpage, informational toolkits, and standardized talking points.

Content will also be created to highlight CPA’s thought leadership and elevate its profile as a trusted resource within the community.

In addition, CPA will begin communications planning for the onboarding of the cities of Cudahy and Fillmore, with service expected to begin in 2027. CPA will also update the member agency portal for Board and CAC members. The enhanced portal will provide

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Board of Directors Item 4
easier access to CPA’s marketing materials, Power Content Label, and quarterly member agency reports.

The CAC requested that staff provide refresher training regarding how to use the member portal on CPA’s website during the CAC’s annual regional planning meetings in the coming months.

ATTACHMENT

1. CAC Meeting Attendance

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Board of Directors Item 4
Community Advisory Committee Attendance
2026
Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov
East Ventura/West LA County
Angus Simmons ✓ ✓ A
Kat Selm ✓ A ✓
Debbie West A ✓ A
San Gabriel Valley
Hamarz Aryafar ✓ ✓ ✓
Vacant
West/Unincorporated Ventura County
Kent Bullard ✓ ✓ ✓
Daniel Mora ✓ ✓ ✓
South Bay
Cort Casady A ✓ ✓
Diane Wallace A ✓ ✓
Gateway Cities
Luis Alvarez ✓ A A
Genaro Bugarin ✓ A ✓
Westside
Cris Gutierrez A ✓ A
David Haake ✓ A ✓
Unincorporated LA County
Neil Fromer ✓ ✓ ✓
Margaret Fuentes ✓ ✓ ✓
✓ - Attended A – Absent X – Medical/Personal Leave Gray – Vacant/Dark Action Items and Presentations
January
CPA Multifamily Programs
July
February
Policy Platform and Leg Update
TOU-SMART Pilot
August
March
Programs Update
Marketing and Communications Update
September
April October
May November
June December

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Staff Report – Agenda Item 5
To: Board of Directors
From:

Reviewed by:

Gabby Monzon, Clerk of the Board
Nancy Whang, General Counsel
Approved By: Ted Bardacke, Chief Executive Officer
Subject: Elect a Board Chair to Serve July 2026 – June 2028 Term Date: March 5, 2026

RECOMMENDATION
Elect a Board Chair to serve a full two-year term from July 2026 to June 2028.

BACKGROUND
At the March 5th Board of Directors meeting, Chair Klein Lopez opened the nomination period for the Board Chair position to serve a full two-year term from July 2026 - June 2028. The Board Chair may be a Director who meets the following criteria1:

1. The candidate must be a Regular Director;

2. The candidate must have attended at least 50% of CPA’s Regular Meetings in the prior 12 months; and,

3. The candidate must affirm that they intend to serve a full term as Chair.

Nominations were accepted through Friday, March 13th. The following nomination was received:

1. Robert Parkhurst, City of Sierra Madre
1These are also the eligibility requirements for Committee Chairs and Executive Committee At-Large Members.

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Board of Directors Item 5

DISCUSSION
The Clerk of the Board has verified that the nominee meets all the eligibility criteria. The Board Chair position must be elected by Regular Directors only, not Alternates. A roll call vote among all Regular Directors in attendance will take place during the Board’s consideration of this item.

Timeline
The election of a new Board Chair will initiate the appointment process for Committee Chairs and subsequently the election of At-Large Members of the Executive Committee for the 2026-2028 term. The election for the At-Large positions will occur at the June 2026 Board meeting.

April 2 Election of Board Chair
By April 20 Committee Chair appointments for the 2026-2028 term made by the New Board Chair; appointments announced at May 7 Board
meeting
May 7 – May 15 At-Large Executive Committee Nomination Period (3 positions: 2 for Los Angeles County and 1 for Ventura County) for the 2026-2028 term
June 4 Election of At-Large Executive Committee Members for the 2026- 2028 term (Los Angeles County Regular Directors vote for Los Angeles County At-Large Positions; Ventura County Regular Directors vote for Ventura County At-Large Positions)
July 2 Board Chair, Committee Chairs, Executive Committee At-Large Members begin the 2026-2028 term

ATTACHMENT
None.

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Staff Report – Agenda Item 6
To: Board of Directors
From: John Spector, Program Manager
Reviewed by: Joanne O’Neill, Senior Director, Customer Programs Matthew Langer, Chief Operating Officer
Nancy Whang, General Counsel
Approved By: Ted Bardacke, Chief Executive Officer
Subject: Power Ready Round 2 System Ownership Delivery Approach Date: April 2, 2026

RECOMMENDATION
Direct staff to (a) proceed with activities necessary to operationalize CPA’s ownership of assets and delivery approach for Power Ready Round 2 and (b) return to the Board for approval of the potential sites, the proposed budget, and other actions necessary to effectuate the launch of the procurement of services.

BACKGROUND
Power Ready Overview
CPA offers its member agencies a community benefit program, Power Ready, to enhance energy and community resiliency by installing solar-plus-storage clean energy backup systems to provide electricity during power outages. Facilities may be eligible if they provide the continuation of critical public services (emergency operations centers) or serve as a place of refuge for the community (evacuation or cooling centers). The Power Ready program reserves a portion of the battery for planned and unplanned power outages for critical loads and guarantees that annual electricity charges for the site host will be equal to or less than the amount that would have otherwise been charged if they did not participate.

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Board of Directors Item 6
A. Power Ready Round 1
CPA’s Board of Directors approved the Round 1 multi-site Power Purchase Agreement (PPA) on February 1, 2024, with Coast Energy, which is comprised of 11 backup energy systems totaling 1.15 megawatts (MW) of solar photovoltaic system capacity paired with

1.17 MW of battery energy storage system (BESS) capacity collectively. These projects which are now in various stages of design and permitting, are expected to be installed over the next 12 months.

B. Power Ready Round 2
CPA recruited for a second round of Power Ready from February to December 2025 seeking additional sites to enroll in “Round 2” of the program. Significant interest resulted in the submission of 132 member agency and community sites. As a result of the site screening and prioritization from member agencies, 24 facilities have been assessed to be technically feasible based on on-site assessments from CPA’s technical consultant.

CPA is working with member agencies to finalize the scope of the projects and confirm interest in moving forward.

1. CPA Asset Ownership Drivers
The Round 1 PPA model has proved challenging to implement for three key reasons:
(1) qualified PPA project developers were hesitant to reply to the solicitation due to project readiness, complexity, and the number of small projects, (2) the PPA model requires aggregating multiple projects into a large portfolio, required to reach a cost-effective scale, which must advance concurrently – one project's delays can impact the entire portfolio, and
(3) significant delays occurred during the negotiations of both pre-solicitation MOUs with member agencies and post-PPA Site Lease Agreements with the developer.

On October 16, 2025, the Board approved an amendment to provide relief to operational dates and cost increases as a result of these delays.

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Board of Directors Item 6
Given these challenges, staff determined that CPA may be able to more effectively deliver on the Power Ready program if it owns the assets, which has the potential to yield project cost savings in some circumstances, while also investing in CPA's internal capacity to support further ownership strategies. The opportunities of the proposed Round 2 delivery structure include:
(1) the potential to increase the number of contractors responding to solicitation because the scope of work will more closely align with typical market offerings, (2) CPA would directly negotiate the Site Lease Agreement (SLA) with Site Hosts (instead of the PPA developer negotiating the SLA), which may increase flexibility in the negotiations and reduce some barriers experienced in Round 1. Negotiations would occur prior to CPA issuing solicitations, which may shorten the timeline by requesting one formal governing body approval for both the Memoranda of Understanding (MOU) and SLA, instead of two separate votes for the MOU and SLA, and
(3) increased oversight and control by CPA during project development, which should help ensure the process runs more smoothly and efficiently.

2. Feedback Received from the Board at the Board Retreat The Board expressed interest in asset ownership during the 2024 Board Retreat and re-affirmed that interest during the 2025 Board Retreat. During the 2025 Retreat, CPA staff presented key findings and requested feedback from the Board members participating in Power Ready break-out groups related to 1) Power Ready program structure, 2) enhancing efficiency in Power Ready’s project delivery, with a focus on streamlining key milestones, and 3) reviewing opportunities and risks of Power Ready asset ownership.

Board members were generally supportive of CPA continuing to explore project ownership within the Power Ready program. Board members asked liability, risk, and contracting questions for staff’s consideration as they evaluate the process. The breakout group also discussed the benefits of the ownership model, including CPA’s oversight and management of the multiple vendors required to implement the program, and CPA’s ability to contract directly with the Site Host that may result in quicker implementation.

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Board of Directors Item 6
Other Community Choice Aggregator (CCA) Project Delivery Approach Ava Community Energy Authority (Ava) and Peninsula Clean Energy Authority (PCE) have similar programs to Power Ready and are already utilizing a similar project delivery method as proposed by CPA staff to develop their projects.

DISCUSSION
A. Proposed Power Ready Round 2 Ownership Delivery Approach Staff conducted wide-ranging research, including reviewing relevant asset ownership models, identifying requirements in the Public Contracts Code, engaging subject-matter experts and legal counsel, consulting with other Community Choice Aggregators (CCAs) that have similar programs, and holding informational interviews with contractors.

From this research, staff identified that a Design-Build process utilizing a Build-Transfer Agreement as the most appropriate approach for CPA and the Power Ready program.

Design-Build is a project delivery method that utilizes one Engineering, Procurement, and Construction (EPC) contractor to provide both the engineering (design) and construction (build), which provides efficiency in advancing complex projects. A Build-Transfer Agreement (BTA) is a variation of Design-Build that allows CPA to take ownership of project assets after completion from the EPC contractor. The BTA approach substantially reduces CPA's project development risk prior to asset transfer. Additionally, CPA will obtain an Operations and Maintenance (O&M) contractor to inspect, maintain, and repair systems once operational and throughout the life of the project on CPA's behalf.

To support successful project delivery, CPA would obtain an Owner's Representative to provide CPA technical consulting support. The Owner’s Representative would provide project development and support oversight of the EPC contractor to ensure the projects are being developed in a safe and timely manner that is consistent with code, industry best practices, and the scope of work. The Owner’s Representative would also verify, at CPA’s direction, that project assets are commissioned and operating prior to receiving the transfer of ownership.

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Board of Directors Item 6
Figure 1: Power Ready Round 2 Structure
The figure above illustrates the key stakeholders and contracts between them to support the Design-Build approach. The key roles within this delivery approach structure include:
• CPA: Oversees the Power Ready program; provides oversight, project management, and funding.
• Site Host: The member agency hosting the Power Ready system and receiving the resilience benefits.
• Owner's Representative: Technical consultant assisting CPA to independently verify the EPC designs and that project construction meets specifications. • EPC: Engineers, procures equipment, and constructs the projects for CPA on the Site Host property.
• O&M Contractor: Provides post-construction recurring inspections, as needed repairs, and optimizes the system's performance.

B. Procurement Process
Construction for ownership of the Power Ready Round 2 systems is considered a Public Works project under State law and requires a prescriptive set of actions in conducting the procurement process. These steps are aligned with the existing CPA Non-Energy

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Board of Directors Item 6
Procurement Policy. CPA will follow the Design-Build contracting requirements under the Public Contract Code and issue a two-step solicitation for the EPC contractor:

1. Request for Qualifications (RFQ): CPA will pre-qualify proposers based on CPA's requirements for qualified contractors.

2. Request for Proposals (RFP): Qualified developers will submit bids on the projects, including project-specific designs and accompanying costs. CPA will use a best value approach for selection considering criteria including experience, safety, and product quality.

C. Ownership Risk Assessment
During the Board Retreat staff were asked to further explore the risks associated with asset ownership including potential preventative measures and mitigations.

Staff consulted with industry experts and CPA’s technical consultant to better understand potential risks for behind the meter solar and storage projects. Projects of this type, and their associated risks, are common and well documented and offer insights to inform CPA’s approach. Additionally, projects must comply with all applicable codes and standards, receive permits through relevant jurisdictions, and the products selected will have undergone rigorous testing to achieve third-party product certifications. As a result, staff believes that the risks are manageable for CPA given the planned mitigations and the scale of the program.

D. Planned Preventative Measures and Mitigations
CPA will develop and implement numerous preventative measures throughout the project development process to reduce risk. These preventative measures will leverage industry best practices to address typical risks for these types of behind-the-meter solar and storage projects. CPA will ensure the design of the systems is in accordance with applicable codes and standards, and consider implementing best practices above code where feasible, including fire prevention planning and suppression compliance.

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Board of Directors Item 6
During the project design proposal and contractor solicitation process, CPA will set minimum specifications and evaluate the quality and performance of proposed products and equipment. This will include a review of contractor and manufacturer’s products and service warranties and their associated coverage, terms, and extensions. CPA will evaluate the qualifications, references, and safety track record of the contractor as part of the selection process.

Before construction, on-site safety plans will be developed by the contractor and reviewed by CPA and the Owner’s Representative, who will advise and recommend adjustments as needed. Site-specific safety plans will be developed to include construction logistics, emergency communication plans, and coordination with the site hosts for daily site construction activities.

During construction, the EPC contractor will follow the safety plans and the Owner’s Representative will inspect project-related activities and report to CPA on recommendations for improvement. Once construction has been completed, the Owner’s Representative will perform a system inspection and ensure the systems were designed and are operating in accordance with the contract specifications.

During the operations and maintenance phase, CPA will oversee O&M contractor to ensure the systems are performing as expected. Recurring system inspections will be performed by the O&M contractor, and they will identify and remedy system deficiencies as they arise.

In addition to preventative measures, CPA will leverage risk mitigation strategies to overcome issues that arise during the project term. This includes:
• During construction, the EPC contractor will carry appropriate insurance coverage. • During system operation, O&M contractor will have performance guarantees, and carry appropriate insurance coverage. Equipment and workmanship warranties will apply under certain circumstances.

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Board of Directors Item 6
• CPA will carry appropriate insurance coverages to cover the replacement cost of the equipment and third-party liability and may carry additional coverages where appropriate and financially feasible (for example, excess and umbrella coverages).

If a system failure or incident occurs CPA will perform a post-incident inspection and seek remedies with the EPC and/or O&M contractors, with equipment and workmanship warranties, or within its insurance policies as appropriate.

E. Estimated Costs
Estimated project and program delivery costs over the 20-year Operational Term for Power Ready Round 2 portfolio assuming 8 projects and 400kW solar; 550kW / 2,500kWh battery are shown below. Costs are estimates and will be updated once site selection is complete to reflect the expected portfolio prior to requesting Board approval of the EPC contract.

Table 1: Power Ready Round 2 Estimated Costs
Cost Category Cost Estimates
Project Construction Phase (years 1-2) $7,800,000
Operations & Maintenance Phase (years 3-20) $5,400,000
Total 20-year costs $13,200,000
Estimated system ownership costs include capital and O&M costs based on NREL data and assume that CPA is able to obtain the 30% Investment Tax Credit (ITC) on the battery systems only. CPA would plan to purchase the assets using available funds and not utilize debt financing. Additionally, estimated costs include insurance, external legal counsel, and Owner's Representative services, but do not include a new CPA project manager position which was included in FY25/26 staffing budget.

KEY NEXT STEPS AND TIMELINE
At a future Board meeting, staff would return with a proposal requesting approval for the Power Ready Round 2 sites and budget. At that time, the Board would direct staff to

Agenda Page 41
Board of Directors Item 6
launch the Design-Build RFP. Once site selection is approved by the Board, the participating member agencies will have a set amount of time (e.g. 6 months) to execute the MOU and SLA with CPA. Staff will also present a contract for an Owner’s Representative for Board approval later in 2026, if needed. The figure below provides a high-level overview of the key next steps for the Power Ready Round 2 program.

Figure 2: Power Ready Round 2 Timeline

PROCESS
Staff presented an overview of the proposed Power Ready Round 2 delivery model to the Executive Committee at the March meeting during which there was a consensus to support this approach and to bring it to the Board of Directors meeting in April 2026.

FISCAL IMPACT
Costs for the Owners Representative, legal, and other related expenses will be included in the FY 2026-2027 and 2027-2028 budget proposals. The fiscal impact of capital, O&M, and insurance costs will be recognized when the Power Ready Round 2 projects are completed and begin operation. CPA will submit these costs in future budget requests tied to FY2028-2029 and/or FY2029-2020.

ATTACHMENT

1. Power Ready System Ownership Delivery Approach Presentation

Agenda Page 42
Power Ready System Ownership
Delivery Approach
April 2, 2026
Agenda Page 43
Agenda
2 Power Ready Overview and Background
Proposed Power Ready Ownership Delivery Approach
Ownership Risk Assessment
Cost, Timeline, and Next Steps
Action Requested
Direct staff to (a) proceed with activities necessary to operationalize CPA’s ownership of assets and delivery approach for Power Ready Round 2 and (b) return to the Board for approval of the potential sites, the proposed budget, and other actions necessary to effectuate the launch of the procurement of services.

Agenda Page 44
Power Ready Overview and
Background
Agenda Page 45
Background & Executive Summary
4 The Power Ready program was first presented to CPA member agencies in 2019. CPA developed the Round 1 portfolio, which comprises 11 backup energy systems totaling 1.15 megawatts (MW) of solar photovoltaic systems paired with 1.3 MW and 5.2 MWh of battery energy storage system (BESS) capacity, collectively. Those projects are in various stages of project development and are expected to be installed in the next 12 months.

The Board expressed interest in asset ownership during the 2024 Board Retreat and re-affirmed that interest during the 2025 Board Retreat.

Staff has researched and evaluated several options and recommends moving forward with an ownership model, as detailed in this presentation.

Executive Committee received a presentation at the March 19th meeting on the proposed Power Ready Round 2 asset ownership and expressed consensus support for the delivery approach.

Round 2 Update
• CPA solicited interest in Power Ready Round 2 from member agencies beginning in February 2025 and the application window closed in December 2025.
• CPA has screened 132-member agency and community sites from 26 member agencies for program eligibility. As a result, 24 facilities from 8 member agencies have been assessed to be technically feasible based on on-site assessments from CPA’s technical consultant. • CPA is working with member agencies to finalize site designs and confirm interest in moving forward.

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Power Ready Overview
5 Power outage events, including planned Public Safety Power Shutoffs (PSPS) and unplanned outages continue to disrupt community services; unprecedented weather events continue to pose threats to grid reliability.

CPA provides member agencies and their critical community facilities with resilient, clean, on-site solar and battery storage backup power systems at no upfront cost and no additional costs. • A portion of the battery will be available for power outages for select critical loads at facilities. • Annual electricity charges for the Site Host will be equal to or less than the amount that would have otherwise been charged if they did not participate.

Facilities may be eligible if they provide the continuation of a critical public service or serve as a place of refuge for the community.

Power Ready System
Example Illustration
Why Power Ready?
What is Power Ready?
Communities are seeking clean energy resilience solutions that align with climate adaptation and climate action plans.

Resilience projects are expensive, complex, and require specialized knowledge to design, implement, and maintain.

Agenda Page 47
CPA Asset Ownership Drivers
6 The current Power Purchase Agreement (PPA) model has proved challenging to implement. CPA may be able to more effectively deliver on the Power Ready program if it owns the assets, which has the potential to yield project cost savings in some circumstances, while also investing in CPA's internal capacity to support further ownership strategies.

Challenges with existing model:
• Qualified PPA project developers were hesitant to
reply to the solicitation due to project readiness,
complexity, and the number of small projects.
• The PPA model requires aggregating multiple
projects into a large portfolio, required to reach a
cost-effective scale, which must advance
concurrently – one project's delays can impact the
entire portfolio.
• Significant delays occurred during the negotiations of both pre-solicitation MOUs with member agencies
and post-PPA Site Lease Agreements with the
developer. On October 16, 2025, the Board approved
an amendment to provide relief to operational dates
and cost increases as a result of these delays.

Opportunities through system ownership:
• Potentially increase the number of contractors
responding to solicitation because the scope of work
will more closely align with typical market offerings.
• Increased oversight and control by CPA during
project development which should help ensure the
process runs more smoothly and efficiently.
• CPA would directly negotiate the Site Lease
Agreement with Site Hosts which may increase
flexibility in the negotiations and reduce some
barriers experienced in Round 1. Negotiations would
occur prior to CPA issuing solicitations, which may
shorten the timeline by requesting one formal
governing body approval for both the MOU and
SLA, instead of two separate votes for the MOU and
SLA.

Agenda Page 48
7 During the 2025 Board Retreat CPA staff requested feedback from the Board members participating in Power Ready break-out groups related to:

1. Power Ready program structure: Discuss the details of the current program offering.

2. Enhancing efficiency in Power Ready’s project delivery: Focus on streamlining key milestones, including technical feasibility and contract negotiations with member agencies.

3. Reviewing risks to Power Ready asset ownership: Assess the risks for future diligence.

Board members were generally supportive of CPA continuing to explore project ownership within the Power Ready program.

Board members asked liability, risk, and contracting questions for staff's consideration as they evaluate the process.

Feedback Received from the Board
Agenda Page 49
Proposed Power Ready
Ownership Delivery Approach
Agenda Page 50
Proposed Delivery Structure
9 Since the Board retreat, staff has conducted wide-ranging research, including: reviewing relevant asset ownership models, identifying requirements in the Public Contracts Code, engaging subject-matter experts and legal counsel, consulting with CCAs that have similar programs, and holding informational interviews with contractors.

From this research, staff identified a Design-Build process utilizing a Build-Transfer Agreement as the most appropriate approach for CPA and the Power Ready program. • Design-Build is a project delivery method that utilizes one Engineering, Procurement, and Construction (EPC) contractor to provide both the engineering (design) and construction (build), which provides efficiency in advancing complex projects.
• Build-Transfer Agreement (BTA) is a variation of Design-Build that allows CPA to take ownership of project assets after completion from the EPC contractor. The BTA approach substantially reduces CPA's project development risk prior to asset transfer.

To support successful project delivery, CPA would contract with an Owner's Representative to provide CPA technical consulting support. The Owner's Representative would provide project development and oversight of the EPC contractor. The Owner's Representative would:
• Monitor and ensure that the projects are being developed in (1) a safe and timely manner and (2) consistent with code, industry best practices, and the agreed upon scope of work. • Verify the project assets are commissioned and operating prior to receiving transfer of ownership.

CPA would also contract with an Operations and Maintenance (O&M) contractor to inspect, maintain, and repair systems once operational and throughout the life of the project on CPA's behalf.

Agenda Page 51
Power Ready Roles
10 Clean Power
Alliance Site Host
EPC
Build-Transfer
Agreement
Site Lease
Agreement
Memorandum of
Understanding
O&M
Contractor
O&M
Agreement Power Ready Roles:
• CPA: Oversees the Power Ready program; provides oversight, project management, and funding.
• Site Host: The member agency hosting the Power Ready system and receiving the resilience benefits.
• Owner's Representative: Technical consultant assisting CPA to independently verify the EPC designs and that project
construction meets specifications.
• EPC: Engineers, procures equipment, and constructs the projects for CPA on the Site Host property.
• O&M Contractor: Provides post-construction recurring
inspections, as needed repairs, and optimizes the system's performance.

Owner's
Representative
Legend:
• Clean Power Alliance
• Site Host
• Contractors
• Contracts between stakeholders
Agenda Page 52
Procurement Process
11 Construction for ownership of the Power Ready Round 2 systems is considered a Public Works project under State law and requires a prescriptive set of actions in conducting the procurement process.
• These steps are aligned with the existing CPA Non-Energy Procurement Policy CPA would follow the design-build contracting requirements under the Public Contract Code and issue a two-step solicitation for the EPC contractor:

1. Request for Qualifications (RFQ): CPA will pre-qualify proposers based on CPA's requirements for qualified contractors.

2. Request for Proposals (RFP): Qualified developers will submit bids on the projects, including project-specific designs and accompanying costs. CPA will use a best value approach for selection considering criteria including experience, safety, and product quality.

Other CCAs (Ava and PCE) have similar programs to Power Ready and are already utilizing a similar project delivery method to develop their projects.

Agenda Page 53
Ownership Risk Assessment
Agenda Page 54
Risk Assessment Background
13 During the Board Retreat staff was asked to further explore the risks associated with asset ownership including potential preventative measures and mitigations.

Staff consulted with industry experts and CPA’s technical consultant to better understand potential risks for behind the meter solar and storage projects.

Projects of this type, and their associated risks, are common and well documented and offer insights to inform CPA’s approach.

Additionally, projects must comply with all applicable codes and standards, receive permits through relevant jurisdictions, and the products selected will have undergone rigorous testing to achieve third-party product certifications.

As a result, staff believes that the risks are manageable for CPA given the planned mitigations and the scale of the program.

Agenda Page 55
Example Risks, Preventative Measures, and Mitigations
14 Example Scenario Event
Probability
Potential
Impact Preventative Measures & Mitigations
System Performance:

A portion of the solar system is not
generating energy due to an
equipment failure
Moderate Low
• Preventative Measures: CPA's O&M contractor will perform recurring preventative maintenance inspections and repair identified issues • Mitigations: CPA's O&M contractor will be responsible for maintaining performance guarantees and will monitor system performance, manage equipment warranties, and remedy unplanned issues as they arise Property damage and/or injury:

A solar panel falls and damages a
vehicle and causes personal injury
Very Low Moderate
• Preventative Measures: CPA's O&M contractor will perform recurring preventative maintenance inspections and repair identified issues • Mitigations: CPA will obtain appropriate insurance coverages to include third-party liability; CPA will require contractor to maintain insurance; CPA will seek indemnity from contractor and/or contribution from contractor’s insurer.

Catastrophic system failure:

A battery causes a fire and damages
the Power Ready systems and Site
Host property
Very Low High
• Preventative Measures: Projects will be designed to or above code, including fire suppression measures; products and installation will be evaluated for quality and performance; CPA will evaluate contractor experience and equipment specifications during the solicitation • Mitigations: If an incident occurs CPA will perform a post-incident inspection and seek remedies within (1) EPC and/or O&M contracts, (2) Equipment and workmanship warranties, (3) Insurance
Agenda Page 56
Cost, Timeline, and Next Steps
Agenda Page 57
Estimated Power Ready Cost of Ownership
16 Cost Category Cost Estimates
Project Construction Phase (years 1-2) $7,800,000
Operations & Maintenance Phase (years 3-20) $5,400,000
Total 20-year costs $13,200,000
Estimated project and program delivery costs over the 20-year Operational Term for Power Ready Round 2 portfolio assuming 8 projects and 400kW solar; 550kW / 2,500kWh battery.

System Ownership Assumptions
Project costs include capital costs and O&M and based on NREL data. • Project costs assume 30% Investment Tax Credit (ITC) on battery systems only. • CPA would plan to purchase the assets using available funds and not utilize debt financing.

Includes costs for insurance, external legal counsel and Owner's Representative services.

Does not include new CPA project manager position which was included in FY25/26 staffing budget.

Note: Costs are estimates and
will be updated once
site selection is complete to
reflect the expected portfolio
prior to requesting Board
approval of the EPC contract.

Agenda Page 58
Timeline
17 Staff issues Design-Build
procurement
2026 2027
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Executive
Committee
Review site
selection
recommendation
Board
Meeting
Approve/Direct:
1) Site selection
2) Budget
3) Owner's Representative contract*
4) Direction to launch Design-Build RFP
Board
Meeting
Approve:

EPC Contract
Design, permitting and construction
2028
Q4
Projects
operational
*Owner's Representative contract may
be presented to the Board at a separate
date
Executive
Committee
Review
ownership
delivery
approach
Board
Meeting
Direct:

Proceed with
proposed ownership
structure
Agenda Page 59
18 Action Requested and Next Steps
Direct staff to (a) proceed with activities necessary to operationalize CPA’s ownership of assets and delivery approach for Power Ready Round 2 and (b) return to the Board for approval of the potential sites, the proposed budget, and other actions necessary to effectuate the launch of the procurement of services.

Key Next Steps:

1. At a future Board meeting, staff would return with a proposal requesting approval for the Power Ready Round 2 sites and budget. At this time the Board would direct staff to launch the Design-Build RFP.

2. Once site selection is approved by the Board, the participating member agencies will have a set amount of time (ex: 6 months) to execute the Memoranda of Understanding (MOU) and Site Lease Agreement (SLA) with CPA.

3. Staff will also present a contract for an Owner’s Representative for Board approval later in 2026, if needed.

Agenda Page 60
Questions
Agenda Page 61
Staff Report – Agenda Item 7
To: Board of Directors
From: Jennifer Stevenson, Financial Planning & Analysis Manager Reviewed by: David McNeil, Chief Financial Officer
Approved By: Ted Bardacke, Chief Executive Officer
Subject: Two-Year Budget Cycle
Date: April 2, 2026

RECOMMENDATION
Direct staff to prepare and present to the Board for approval:
(A) Annual budgets for both fiscal years 2026-27 and 2027-28; and, (B) A Budget Policy that includes controls for transfers and reporting as described in this item.

BACKGROUND
Since its inception, CPA’s budget process has begun each January and concluded with the Board’s approval of the budget for the upcoming fiscal year each June. In its start-up phase, this annual process proved beneficial to CPA as it rapidly built operational capability through the COVID-19 pandemic and extreme energy market volatility.

However, as CPA's business has matured with increasingly predictable multi-year planning, its annual budget structure presents opportunities for streamlining and improvement. Projects – particularly involving data and systems, customer programs, and marketing – often span fiscal years and implementation timelines can shift based on external factors, resulting in unspent funds being re-budgeted in subsequent years.

Business decisions can be constrained by line-item allocations despite overall operating

Agenda Page 62
Board of Directors Item 7
expense (OpEx) budget capacity, and line-item budgets cannot be flexibly reallocated when business priorities evolve, without amendments to the budget. The annual budget cycle is time intensive for Board members and staff, spanning six months each year.

DISCUSSION
Staff propose the creation of a two-year budget cycle where the Board adopts two fiscal year budgets and a Budget Policy that would govern the two-year budget cycle.

Overview
Beginning in the spring of 2026, and every two years thereafter, staff would present the Board with the next two consecutive fiscal year budgets simultaneously for approval. The budget approvals would include authorization for staff to make the following limited operating expense budget transfers, subject to controls (discussed below), when reasonable and necessary to support the timely operations of CPA:
a) Move budget amounts between OpEx lines
b) Move budgeted amounts between the two fiscal year budgets Controls and Accountability
Transfers would be subject to the controls and accountability conditions as follows:
• Control 1: An annual maximum transfer between OpEx lines is limited to the greater of $250K or 10% of transfer-out line’s budget.
• Control 2: Customer Programs budget line-item transfers out can only come from funds budgeted for program implementation and must be for expenses that further Customer Program’s projects.
• Control 3: Any OpEx line budget transfers must be approved by the cost center manager and CFO.
• Control 4: The Staffing budget line item shall not be increased by transfers, to avoid committing the Board to ongoing future expenses.
• Control 5: Any movement in budget from the second fiscal year to the first would require CFO approval that is grounded in a reduction in the second fiscal year’s spending plan.

Agenda Page 63
Board of Directors Item 7
The proposed budget transfer authorizations do not modify CPA’s Non-Energy Public Contracting Policy (CPA 2019-12). Board approval will continue to be required when (i) the contract price is over $250,000 or (ii) when a single vendor is to be paid $250,000 or more within a single fiscal year. The CEO will retain delegated authorization for contracts or amendments valued at $250,000 or with a single vendor who is to be paid $250,000 or less in a single fiscal year. The list of all non-energy contracts executed under the CEO’s signing authority for the prior 12 months will continue to be reported to the Board in the CEO’s monthly Management Report.

Reporting
Inter-budget line item and inter-year budget transfers will be reported to the Board as part of CPA’s Quarterly Financial Reports. Prior to the end of the first fiscal year of the cycle, a first-year budget status review will be presented to the Finance Committee. In the fall, after the first fiscal year has closed, a budget outlook presentation will be made to both the Finance Committee and the Board. In addition to the annual presentation of audited financial statements each fall, a budget-to-actual report will be provided detailing both the original and final budgets, including all transfers, and present actual figures for comparison. Any variances will be reviewed and discussed.

Annual Rate Setting Process
As part of the second fiscal year’s annual rate setting process, staff would propose that the Board amend and update the second fiscal year’s budgeted revenue and cost of energy line items to match the new rates and updated energy projection on which the rates were based. No other changes to the annual rate setting process are proposed.

Budget Policy
A Budget Policy would be drafted to govern CPA’s budgeting process, which reflects the controls and reporting described in this staff report. The draft Budget Policy would be presented to the Executive and Finance Committees in May before being presented to the Board for final approval at the June Board meeting together with the 2026/27 and 2027/28 Fiscal Year Budgets.

Agenda Page 64
Board of Directors Item 7

RATIONALE
This proposed change presents the opportunity to better align budget timelines with CPA’s long-term strategy, increase agility to adapt to changes in project timelines, increase efficiency, and optimize resources to enable business decisions. Two-year budget processes are commonly used in the public sector; approximately one-third of CPA’s member communities currently use two-year budget processes.

Under the revised approach, budget preparation would no longer occur every spring resulting in fewer budget presentations. Instead, Board engagement will be enhanced through additional financial reporting, including first-year budget status review, as described in the previous section.

PROCESS
The Finance Committee and Executive Committees unanimously recommended moving to a two-year budget cycle at their January 28, 2026, and March 19, 2026, meetings, respectively.

ATTACHMENT

1. Two-Year Budget Cycle Proposal Presentation

Agenda Page 65
Two-year Budget Cycle Proposal
April 2, 2026
Agenda Page 66
2 Recommendation
Direct staff to prepare and present to the Board for Approval:
(A) Annual budgets for both fiscal years 2026-27 and 2027-28, and (B) A Budget Policy that includes controls for transfers and reporting as described in the item.

Agenda Page 67
As CPA's business has matured and multi-year expense planning has become more predictable, our annual budget structure presents opportunities for streamlining and improvement
Staff propose a two-year budget cycle, wherein the Board would approve two annual fiscal year budgets simultaneously, with authorization for staff to make limited operating expense transfers between the two years subject to five specific defined constraints
Under this proposal, the Board would be presented a budget amendment for the second year of the two-year cycle to update revenue, cost of energy and contribution to the net position in line with the annual rate setting process The Finance Committee and Executive Committees unanimously recommended moving to a two-year budget cycle at their January 28, 2026, and March 19, 2026, meetings, respectively.
3 Summary
Agenda Page 68
Fiscal Year Constraints
• Projects – particularly involving data and systems, customer programs and marketing – often span fiscal years and implementation timelines can shift based on external factors, resulting in unspent funds being re-budgeted in subsequent years
Process
• The annual budget cycle takes 6 months each year, and is time intensive for Board members and Staff • Multi-year planning for many expense items has become more predictable Operational Flexibility
• Budget line items cannot be flexibly reallocated when business priorities evolve without amendments to the budget
• Business initiatives may be delayed due to budget line-item constraints, despite CPA having overall operational expense (OpEx) budget capacity
4 Context: Current Budget Environment
Two-year budget processes are commonly used in the public sector. Approximately one-third of CPA’s member communities currently use two-year budget processes including Agoura Hills, Alhambra, Claremont, Hawaiian Gardens, Lynwood, Monrovia, Moorpark, Port Hueneme, Santa Monica, Santa Paula, Thousand Oaks, and West Hollywood, as of December 2025.

Agenda Page 69
Proposal: Adopt a 2-year budget cycle
To address operating constraints and improve organizational efficiency, staff recommend the creation and adoption of a Budget Policy to govern a 2-year budget cycle as described in the following slides.

Beginning in the spring of 2026, and every two years thereafter, staff would present the Board with the next two consecutive fiscal year budgets simultaneously for approval.

The budget approvals would include authorization for staff to make the following limited operating expense budget transfers when reasonable and necessary to support the timely operations of CPA:
• Move budgeted line amounts between the two fiscal year budgets • Move budget amounts between OpEx lines (with limitations on Staffing and Programs budgets) Transfers would be subject to the controls and accountability conditions described in slides 7 and 8.

As part of the FY2 (e.g. second year) annual rate setting process, staff would propose that the Board amend and update FY2 budgeted revenue and cost of energy line items.

Agenda Page 70
5 6
 Budget Priorities presentations
 Draft Budget presentations
 Proposed Budget presentations
All the same Committee and Board
interactions only now focused on two
years of business activities
Two proposed budgets presented to the
Board for approval.

Examples
FY2026 – 2027 FY2027-2028
What Does This Look Like?
Agenda Page 71
Controls for inter-budget line-item transfers:

Control 1: An annual maximum transfer between OpEx lines is limited to the greater of $250K or 10% of transfer-out line’s budget
Example: Mailers with a budget of $1.4M could transfer out up to $250K Programs with a budget of $14.4M could transfer out up to $1.4M Control 2: Customer Programs budget line-item transfers out can only come from funds budgeted for program implementation and must be for expenses that further Customer Program’s projects Example: 9 months into the fiscal year the Customer Program’s team discovers that a particular neighborhood is not subscribing to a program that would benefit them because they speak a language other than the ones provided in CPA’s current translations. Programs would like to translate some informational documents into this language and mail these to that neighborhood. This campaign was not anticipated and therefore was not included in the Communications and Mailers budgets. Programs could transfer implementation budget to those budget lines to facilitate this action, rather than waiting 3 months for a new budget cycle.

Control 3: Any OpEx line budget transfers must be approved by the cost center manager and CFO 7 Controls and accountability for transfers
Agenda Page 72
Control for all transfers:

Control 4: Staffing budget line item shall not be increased by transfers, to avoid committing the Board to ongoing future expenses.

Control for inter-year transfers:

Control 5: Any movement in budget from FY2 to FY1 would require CFO approval that is grounded in a reduction in FY2’s spending plan.

Example: A new software was projected to be implemented in FY2 however the procurement went faster than expected and CPA is ready to implement in FY1 Q4. A request could be submitted to the CFO to reduce the FY2 budget and move some implementation budget into FY1, thereby avoiding a project delay.

Examples of inter-year transfers are included on Appendix slide 14.

Reporting:

Inter- budget line item and inter-year budget transfers will be reported in the Quarterly Financial Reports presented to the Finance Committee and the Board. 8 Controls and accountability (cont…)
Agenda Page 73
The proposed budget cycle update will not affect or change CPA’s contracting policies With budget authorization, the Board approves the maximum aggregated operational spending expense for each budget line item that CPA can incur in applicable fiscal years Contracting for goods/services within non-energy budget line items is governed by the Non-Energy Public Contracting Policy (CPA 2019-12). This policy requires Board approval for contracts greater than $250,000 and grants the CEO signing authority:
a. To enter into a contract when any single vendor for Non-Energy goods/services is to be paid $250,000 or less within any 12-month or single FY period b. To enter into or increase the aggregate contract price for any single Board-approved non-energy contract by no more than $250,000
The list of Non-Energy contracts executed under the CEO’s signing authority is provided to the Board as an attachment to the CEO’s monthly Management Report
Energy contracts, authority to enter into those contracts, and reporting requirements are governed separately by the Energy Risk Management Policy
9 Budget Authorization vs. Contract Approval
Agenda Page 74
Better align budget timeline with CPA’s long-term strategy Example: Data & Systems Roadmap, Multi-year commitments for Programs (ex. Energized Communities) Provides the Board financial insight into longer term planning Increase agility to adapt to changes in project timelines Addresses concerns regarding approving the same expenses in multiple fiscal years due to project delays Increased efficiency
Preparing and reviewing two budgets at the same time will free up time and resources for the Board and Staff in FY2 without compromising fiscal discipline and oversight
Resource optimization
Use budget where and when needed to enable business decisions Enhanced engagement with the Board:
• No reduction in FY1 Budget Process (no change)
• Monthly Dashboard (no change)
• Quarterly Financial Report (no change) will include budget transfer reporting (new) • Present a budget status review at FY1 May Finance Committee meeting in anticipation of FY2 (new) • Present the annual outlook for the FY2 operating expense budget year to Finance Committee and the Board in the fall of FY2 (new) • Annual budget process activities for each fiscal year are detailed on Appendix slides 15 and 16 10 Opportunities with a 2-year budget cycle
Agenda Page 75
Next Steps in the Budget Process
11  January – April 2026 (Staff) – Goal Setting, Departmental Budgeting, Rate Design Planning, Energy Cost Projections & Consolidated Budget Planning
 January 28, 2026 (Finance Committee) - 2-year Budget Cycle Proposal  March 19, 2026 (Executive Committee) - 2-year Budget Cycle Proposal  April 2, 2026 (Board) – 2-year Budget Cycle Proposal
April 16, 2026 (Executive Committee) – Budget Priorities April 22, 2026 (Finance Committee) – Budget Priorities and Draft FY2026-27 & FY2027-28 OpEx budgets May 14, 2026 (Board) – Budget Priorities
May 21, 2026 (Community Advisory Committee) – Draft Budgets, Budget Priorities, and 2-year Budget Cycle Proposal May 21, 2026 (Executive Committee) – Draft FY2026-27 & FY2027-28 Budgets and Draft Budget Policy May 27, 2026 (Finance Committee) – Proposed FY2026-27 & FY2027-28 Budgets and Draft Budget Policy June 4, 2026 (Board) – Proposed FY2026-27 & FY2027-28 Budgets and Proposed Budget Policy Agenda Page 76
12 Recommendation
Direct staff to prepare and present to the Board for Approval:
(A) Annual budgets for both fiscal years 2026-27 and 2027-28, and (B) A Budget Policy that includes controls for transfers and reporting as described in the item.

Agenda Page 77
Questions?
Agenda Page 78
14 How Would Transfers Work?
Agenda Page 79
FY1 Budget Process – Same but for 2 FY Budgets
15 January – April year 0 (Staff) –Goal Setting, FY1 & FY2 Departmental Budgeting, Rate Design Planning, Energy Cost Projections & FY1 & FY2 Consolidated Budget Planning April X, year 0 (Executive Committee) – Budget Priorities April X, year 0 (Finance Committee) – Budget Priorities & Draft FY1 & FY2 Budgets May X, year 0 (Board) – Budget Priorities
May X, year 0 (Community Advisory Committee) – Draft FY1 & FY2 Budgets May X, year 0 (Executive Committee) – Draft FY1 & FY2 Budgets May X, year 0 (Finance Committee) – Proposed FY1 & FY2 Budgets June X, year 0 (Board) – Proposed FY1 & FY2 Budgets
Agenda Page 80
FY2 Budget Process - New
16 Second half of FY1 – Rate Revenue and Cost of Energy Forecasts for FY2, and updates to FY1 and FY2 Operating Expense forecasts based on FY1-to-date actuals May of FY1 (Finance Committee) – Budget status review
June of FY1 (Board) – In conjunction with the annual rate setting process, approval of an amended FY2 budget reflecting new rate revenues and new cost of energy forecasts Oct/Nov of FY2 (Finance Committee & Board) – Present an outlook for the FY2 operating expense budget in conjunction with complete and audited financial results from FY1 In addition to the planned budget amendment for FY2 to account for changes in rates and cost of energy forecasts, other budget amendments could be presented to the committees and Board if additional budget authorization is necessary, as is currently the case.

Agenda Page 81
Staff Report – Agenda Item 8
To: Board of Directors
From: Karen Schmidt, Senior Director, Rates & Strategy
Reviewed by: Matthew Langer, Chief Operating Officer
Approved By: Ted Bardacke, Chief Executive Officer
Subject: Rates Outlook
Date: April 2, 2026

RECOMMENDATION
Receive a presentation from staff on the FY 2026-27 rates outlook.

ATTACHMENTS

1. FY 2026-27 Rates Outlook Presentation

Agenda Page 82
FY 2026-27 Rates Outlook
April 2, 2026
Agenda Page 83
Summary
CPA’s energy costs for brown power, Renewable Energy, and Resource Adequacy (RA) have fallen as a result of supply increases and natural gas prices at historic lows Rate options for FY 26/27 will reflect the impacts of this cost environment:

1. Price spreads between CPA’s 100% Green, Clean and Lean rate products may widen slightly as CPA’s brown power costs have declined faster than CPA’s Renewable Energy and RA costs

2. Reserves: As a result of lower than forecast energy costs, CPA expects to end FY 25/26 ahead of budget and in exceedance of the Board’s 50% maximum reserve target, affording CPA the ability to incur a loss in FY 26/27 if needed to reduce rates while still maintaining reserves at or above the maximum target.

Losses would be offset by a transfer from the Fiscal Stabilization Fund (FSF).

3. Competitiveness with SCE: Current total bill comparisons are near historic norms – -0.7% discount for Lean, +1.3% premium for Clean, and +7.3% premium for 100% Green. However, falling RE and RA prices may continue to drive PCIA rates up and SCE generation rates down, leading to higher customer bills and a worsening of CPA’s competitive position in the beginning of 2027, similar to January 2026 At the April 16 Executive Committee meeting, staff will present rate approach options and ask that ExCom recommend an approach to the full Board at its May 14 meeting Final rates based on Board direction on May 14 will be presented for approval at the June 4 Board meeting in conjunction with the adoption of the FY 26/27 budget Agenda Page 84
2 Energy Market Trends
Natural gas prices have declined over the last
several years, lowering brown power prices at
the same time as batteries have displaced
some gas generation during the evening peak
These trends are continuing in 2026 and 2027
forward prices are continuing to remain low
Short-term RA and RPS prices peaked in
2025 and have since declined but CPA is less
exposed to short term market price volatility
due to its portfolio of long-term PPAs
Agenda Page 85
3 At the September 2025 Board retreat, the Board provided feedback to staff on CPA’s product content strategy for 2026-2030:
o Keep Lean Power “the least cost option” for customers o Give staff flexibility to choose best annual mix of renewable and carbon-free (CF) energy in the Clean Power product, with the continual goal to exceed SCE’s base product on environmental performance with lower greenhouse gas emissions
o Increase the renewable content in Lean and Clean when it makes sense based on market conditions
o No changes to 100% Green Power – 100% renewable energy Based on this feedback, CPA’s product content targets for 2026-2027 are similar to 2025 targets with added flexibility on Clean Power content to achieve GHG emissions targets:
o Lean Power = 40% Clean Energy using most feasible/cost-effective mix of Large Hydro and Renewable Energy
o Clean Power = 50% Clean Energy, with 35-45% Renewable Energy and the rest Large Hydro o 100% Green = 100% Renewable Energy (Solar, Wind, Geothermal, Biomass, Small Hydro) 4 2026-2027 Product Content
Agenda Page 86
Price differentials between each of CPA’s rate products are based on cost -of-service and highly dependent on renewable energy and brown power prices
CPA’s brown power costs have declined faster than its Renewable Energy and RA costs, lowering the cost of Lean Power and widening the spread between Lean and 100% Green Power Staff is still evaluating the FY 26/27 product differentials and will reflect them in the rate options presented to the Executive Committee in April and the Board in May Differentials shown below are not competitive targets with SCE Product Price Differentials
5 Energy
Product FY 2020-21 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26 FY 2026-27 (Projected)
Lean 0% 0% 0% 0% 0% 0%
Clean +1% +1% +1% +1% +2% +1-2%
100% Green +10% +4% +5% +6% +8% +8-9%
Product Price Differentials 2020-2027 (Total bill,* Compared to Lean Power) *Product differentials based on projected CPA cost of service and average total customer bills and may vary based on customer usage, load profile, and rate schedule.

Agenda Page 87
6 Reserves and financial targets
Due to lower than expected energy costs, staff forecast that CPA will end the current year ahead of budget and with reserves exceeding the 50% maximum reserve target This provides the Board with some flexibility to respond to the competitive environment throughout FY 26/27
CPA could incur a loss in FY 26/27 by reducing rates below forecasted FY 26/27 costs.

Losses would be offset through a transfer from the Fiscal Stabilization Fund (FSF) The loss and offsetting FSF transfer would reduce projected reserves at the end of FY 26/27, though reserves could still remain at or above the 50% maximum target Agenda Page 88
Competitiveness
In June 2025, the Board adopted FY 25/26 rates that resulted in a 2% total bill discount target to SCE for Lean Power, parity target with SCE for Clean Power, and a 6% premium target to SCE for 100% Green Power for most customers
Total bill comparisons improved in October 2025 when SCE generation rates increased, and then worsened in January 2027 with SCE’s generation rate decrease and PCIA rate increase.

The Board-approved February rate reduction brought total bill comparisons for most customers to their current levels of -0.7% for Lean, +1.3% for Clean, and +7.3% for 100% Green Short-term total bill comparison fluctuations have not impacted overall participation rates SCE rates are expected to remain relatively flat through the end of 2026, likely followed by another PCIA rate increase and generation rate decrease in January 2027 o Falling RE, RA and brown power prices widen the gap between the cost and the market value of renewable assets in SCE’s PCIA portfolio, driving up the PCIA rate that CPA’s customers pay to cover that cost. Declining RE, RA and brown power prices drive down the generation rates paid by SCE’s bundled customers o A PCIA increase would raise CPA customer bills, while the PCIA and SCE generation rate changes together would worsen CPA’s competitive position. The magnitude of the changes will be clear at year end.

FY 26/27 rate options will reflect strategic considerations:

1. Whether and how much to reduce rates effective July 1, 2026, considering immediate impacts on reserves, customer bills and competitiveness

2. Whether to limit rate reductions effective July 1 and retain reserves to address the competitive impacts of SCE’s expected 2027 rate changes
Agenda Page 89
Next Steps
Month 2025/26 Rate Setting 2025/26 Budget
April
• Discuss rate product price differentials
and competitiveness outlook (Board)
• CAC discusses rate setting approach
• ExCom recommends rate setting approach
• Discuss budget priorities (CAC, ExCom
and Finance Committees).
• Present draft operating expenses to
Finance Committee
May • Adopt rate setting approach (Board)
• Discuss budget priorities (Board)
• Finance Committee recommends FY
25/26 budget
June • Adopt final rates (Board) • Adopt final budget (Board) July • Implementation of FY 25/26 rates • Start of new Fiscal Year 8 Note
FY 2026/27 rates will not impact communities beginning CPA service in October 2027 – Cudahy and Fillmore. Staff will present options for the new communities’ rate setting approach to the Board in December 2026, in advance of those communities selecting a default rate option in early 2027 Agenda Page 90
Questions and Discussion
Agenda Page 91
Appendix
Agenda Page 92
CPA has maintained competitiveness over the past two
years in a challenging rate environment
The CPA Board adopted competitive rates in its annual rate setting for FY 24/25 and FY 25/26, resulting in total bill comparisons consistent with or better than historical targets In January 2025 and January 2026, SCE generation and PCIA rate changes resulted in significant customer bill impacts and a worsening of CPA’s competitive position In both years, based on CPA’s financial strength, the Board was able to adopt an interim rate adjustment to provide rate relief to our customers and return bill comparisons close to the targets set the previous July
Short-term total bill comparison fluctuations have not had a discernible impact on overall customer participation rates
11 Energy
Product July 2024 January 2025 March 2025 July 2025 October 2025 January 2026 February 2026 Lean -1% +7% 0% -2% -6.2% +7% -0.7%
Clean 0% +8% +1% 0% -4.4% +9% +1.3%
100% Green +5% +13% +6% +6% +0.9% +14% +7.3%
Total Bill Comparisons to SCE – Residential and Small/Medium Business* *Gray columns show impact of SCE rate changes. Comparisons are based on representative 2018 PCIA vintage rate schedules, average customer usage and load profile for each rate class, SCE rates as of the dates specified in the table. Individual customer comparisons vary by specific rate schedule and customer usage.

Agenda Page 93
Management Report
To: Board of Directors
Subject: Management Report
Date: April 2, 2026
Upcoming Schedule of Events
CPA reminds the Board of a number of upcoming events.
• April 30: A ribbon cutting in Carson marking significant progress in local solar development for the Power Share program. An invitation was sent on March 25. • May 14: CPA’s Regular Board meeting in May will be held one week later than usual to avoid conflicts with the SCAG General Assembly. • September 18: CPA will hold its Annual Board Retreat. Please hold an 8:30am to 2:30pm time slot for the retreat in a central Los Angeles location.

New Fire Victim Rebuilding Program
In November 2021 the California Public Utilities Commission (CPUC) authorized the $50 million Rebuilding Incentives for Sustainable Electric (RISE) Homes program to provide customers with incentives to rebuild all-electric homes after natural disasters. After several years of development, the RISE Homes program is now available to customers who get distribution service from Investor Owned Utilities, including CPA customers.

First conceived in the aftermath of the 2018 Woolsey fire, the program will begin accepting applications on April 6, 2026 from homeowners whose properties were destroyed by natural disasters since Jan. 1, 2017, and for which they do not have a certificate of occupancy.

Rise Homes will provide financial incentives from $3,000-$32,000 depending on property type and technologies installed. Homes located in qualified disadvantaged communities or customers previously on rate assistance programs are eligible for 50% higher equity incentives.

Agenda Page 94
Board of Directors Management Report
CPA is promoting the program along with other sustainability-related fire resilience resources on its dedicated wildfire support webpage and in other forums and extends its thanks to LA County Supervisors Lindsey Horvath and Kathryn Barger for assistance in getting the program out of the bureaucratic limbo into which it fell after the Eaton and Palisades fires of last year.

Monthly Financial Performance
CPA’s net position increased $5.8 million in January 2026, $9.2 million more than the budgeted decline of $3.4 million. Energy revenues were 9% lower than budgeted but energy costs were 17% lower than budgeted. Both revenue and energy costs were under budget due to mild weather, lower-than-expected prices for market power, and the non-utilization of contingencies. For the first seven months of the fiscal year, CPA is ahead of budget by $76.3 million; better-than-budgeted performance is expected to slow beginning in February 2026 as the impact of CPA’s February 1, 2026 rate decrease flows through to financial performance. The monthly financial dashboard for January is provided as Attachment 1.

Customer Participation Rate and Opt Actions
As of February 24, CPA’s overall participation rate was 92.9%, up slightly from 92.8% the previous month. CPA had 1,071,441 active customers as of 1,070,709 active customers as of February 24, up 732 customers from the month before. Opt-outs through March 24 – 384 – were down slightly from the 410 opt-outs posted in January. Participation rates and active accounts by member agency are provided in Attachment 2.

Customer Service Center Performance
Incoming calls to CPA’s Customer Service Center were down in March, with 1,534 calls though March 24, compared to 2,066 calls in February. Call center performance improved, with 97.6% of calls answered within 45 seconds in the month, compared to

90.0% in February. Average call center wait time was 6 seconds, compared to 17 seconds in the previous month.

Agenda Page 95
Board of Directors Management Report
Contracts and Amendments Executed Under the CEO Authority A list of Long-Term energy transactions, letter agreements, amendments, and terminations executed under the CEO’s Delegated Authority in the previous 12 months is provided in Attachment 3 pursuant the Energy Risk Management Policy. A list of non-energy contracts executed under the CEO’s Signing Authority pursuant to CPA’s Non-Energy Contracting Policy is provided in Attachment 4. This list includes all open contracts as well as all contracts, open or completed, executed in the past 12 months.

ATTACHMENTS

1. January 2026 Financial Dashboard

2. Participation Rates by Member Agency

3. Long Term Energy Transactions, Letter Agreements, Amendments, and Terminations under CEO’s Delegated Authority

4. Non-Energy Contracts Executed under CEO’s Signing Authority

Agenda Page 96
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 and other (grant related) revenues less allowance for doubtful accounts Cost of energy: Includes all direct power costs incurred to serve CPA’s load Operating expenses: Includes general, administrative, consulting, payroll, and other costs required to fund operations Operating Income: Represents the difference between revenues and cost of energy and operating expenses Non-Operating Income: Interest income arising from deposits and investments net of borrowing costs and fees Investments: Liquid and high-quality securities with maturities of 91 days or more Cash and Cash Equivalents: Includes bank deposits and high quality and liquid securities with maturities of 90 days or less Year to date (YTD): Represents the fiscal period beginning July 1, 2025 YTD
January
2026
Financial Dashboard
Note: Numbers may not sum up due to rounding.

Active Accounts
1,071,487
Participation Rate

92.8%
YTD Sales Volume
6,451GWh
January Volume
849 GWh
Res
48%
Com - Lg
21%
Com - Sm
29%
Agr/Oth
2%
In January 2026, CPA’s net position increased by $5.8 million, $9.2 million greater than the budgeted net loss of $3.4 million. Energy revenues were $94.5 million, 9% lower than budgeted, and the cost of energy was $86.3 million, 17% lower than budgeted. Revenue and cost of energy were lower than budgeted primarily due to lower than forecasted residential heating load attributable to mild weather. Cost of energy was also impacted by lower than budgeted energy market prices and the non-utilization of energy contingencies.

Year to date, CPA’s net position increased by $41.0 million, $76.3 million higher than budgeted. YTD revenues totaled $784.9 million, 5% less than budgeted, due to mild weather this fiscal year generally reducing customer load. YTD energy expenses were $724.7 million, 13% less than budgeted, due to lower than forecasted market prices for energy and renewables, and the non-use of energy contingencies. Absent contingencies, energy costs YTD were $51.0 million (7%) below budget. YTD operating expenses totaled $33.0 million, 25% less than budgeted, mainly due to timing differences across three areas: staffing, where hiring has progressed slower than planned; customer program incentives, which are distributed as customers enroll in programs and will extend into future fiscal years; and professional services, where two project budgets have shifted to next fiscal year and some engagements have come in under budget. Consultant activity is expected to increase in Q4.

As of January 31st, 2026, CPA had unrestricted cash, cash equivalents, and investments of $631.1 million, as well as $119.5 million available in its bank line of credit, representing 236 Days Liquidity on Hand. CPA is financially sound and in compliance with its bank and other credit covenants.

Agenda Page 97

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Agenda Page 98
Project or Resource Summary Month Notes
Sunzia North Executed Letter Agreement to document procedures for bidding the resource. March 2026 Sunzia North
Incremental
Executed Letter Agreement to document procedures for bidding the resource. March 2026 Sunzia South Executed Letter Agreement to document procedures for bidding the resource. March 2026 Sunzia South
Incremental
Executed Letter Agreement to document procedures for bidding the resource. March 2026 Fillmore
Amendment to Power Purchase Agreement to remove an erroneous comma in Seller's name
March 2026
Saticoy
Amendment to Power Purchase Agreement to remove an erroneous comma in Seller's name
March 2026
Desert Sands II
Amendment to a Letter Agreement to the Energy Storage Agreement to extend the termination deadline while parties identify mutually beneficial solutions January 2026
Drifter
Amendment to Energy Storage Agreement to extend the termination deadline while parties identify mutually beneficial solutions
January 2026
Cape Station 2
Letter agreement to extend the termination deadline for securing interconnection right while parties identify mutually beneficial solutions December 2025
Eaves 1
Amendment to Power Purchase Agreement to allow for additional payments of liquidated damages to extend the COD
November 2025
Eaves 3
Amendment to Power Purchase Agreement to allow for additional payments of liquidated damages to extend the COD
November 2025
Commerce 4
Amendment to Power Purchase Agreement to allow for additional payments of liquidated damages to extend the COD
November 2025
Southbay 20
Amendment to Power Purchase Agreement to allow for additional payments of liquidated damages to extend the COD
November 2025
Carson 1
Amendment to Power Purchase Agreement to allow for additional payments of liquidated damages to extend the COD
November 2025
Luna
Letter agreement to memorialize approval of an augmentation outage in the summer months, and compensation from Luna to CPA in acknowledgment of such summer outage approval
September 2025
Sunzia
Amendments to bifurcate North and South projects into two separate Power Purchase Agreements.

September 2025
Luna
Letter agreement to memorialize approval of an augmentation outage in the summer months, and compensation from Luna to CPA in acknowledgment of such summer outage approval
June 2025
Sunzia Letter agreement to establish process to bifurcate North and South projects June 2025 Sunzia
Amendment to allow Sunzia the option to operate each turbine in the South Wind project area at a nameplate capacity of 3.8MW vs the originally contemplated 3.6MW
May 2025
Sunzia
Letter Agreement extending the negotiating period to address Slice of Day language in existing contract
May 2025
Cape Station 30 MW
and 18 MW
Letter Agreement to the Power Purchase Agreements to update insurance requirements. The Letter Agreement applies to both the 30 MW and incremental 18 MW Cape Station agreements.

April 2025
Previous 12 Months
Long-Term Energy Contract Transactions, Administrative Amendments, Letter Agreements and Terminations Executed Under Chief Executive Officer's Authority

Agenda Page 99
Vendor Purpose Month NTE Amount Status Notes
LinkedIn Corporation Recruitment software license Mar-26 $13,594 Active Great Place to Work
Subsription to certification survey and
analytics platform Mar-26 $3,852 Active
Keyes & Fox LLP
Amendment to Legal Services Agreement
to clarify fee structure
Mar-26 $0 Active
Oppenheimer Investigations Group LLP Legal services for employment law Mar-26 $50,000 Active Accuweather
Addendum to Agreement for Weather
Forecasting to extend term period Mar-26 $7,012 Active
Chandler Asset Management, Inc. Investment portfolio manager services Feb-26 $200,000 Active Wood Mackenzie, Inc. Price forecast software subscription Feb-26 $42,107 Active Lumi USA Inc. Platform for electronic voting for Board Feb-26 $12,000 Active TRC Solutions
Amendment to PSA for building and EV
reach codes to extend term period Feb-26 $0 Active
Sean Hernandez
Consulting Agreement for market
operations analytics and reporting
services
Feb-26 $30,000 Active
Liebert Cassidy Whitmore, APC Legal services for employment law Feb-26 $50,000 Active Coro California, Inc. Staff Workshop Facilitator Jan-26 $6,750 Active Electric & Gas Industries Association
Incentive management services for the
residential battery storage incentive
program
Jan-26 $91,000 Active
MG Advisory Corp
Municipal Financial Advisor for Prepay
Transactions
Jan-26 $250,000 Active
Meltwater News US Inc. Media coverage subscription Jan-26 $27,770 Active Ironclad, Inc. Contract Management Software Jan-26 $94,906 Active NewGen Strategies & Solutions, LLC
Cost-of-Service and Rate Setting
consulting services
Dec-25 $40,000 Active
Pinnacle Advocacy LLC Lobbying services for Government Affairs Dec-25 $78,652 Active Omni Government Relations Lobbying services for Government Affairs Dec-25 $106,492 Active Language Line Services, Inc.

Translation services for Marketing &
Communications
Dec-25 $70,000 Active
Grand Tower LLC Storage Space Lease Dec-25 $12,000 Active DERNet Soft, Inc. Customer Engagement Reporting Tool Nov-25 $60,000 Active ParcelQuest Parcel data web service Nov-25 $12,500 Active Mercer LLC Performance Management Re-design Nov-25 $75,000 Active Green Translations
Translation services for Marketing &
Communications
Nov-25 $30,000 Active
Salesforce Tableau licenses Nov-25 $4,651 Active
Chapman & Cutler Legal services for prepay transactions Oct-25 $175,000 Active Adam Investigations Legal services Oct-25 $50,000 Active GDS Associates
Technical support for long-term energy
contracts
Oct-25 $95,000 Active
Julia Valler, Inc. Event staffing for LA Car Show Oct-25 $24,948 Active Alter Agents, Inc. Marketing research services Sep-25 $249,800 Active Pinnacle AV Services A/V maintenance service plan Sep-25 $25,849 Active SAESHE, Inc.

Amendment to PSA for Street teams
support services
Sep-25 $55,000 Active
First Principles Advisory
Integrated Resources Plan technical
consulting
Sep-25 $75,000 Active
Mercer LLC 2025 Retirement/Benefits Review Aug-25 $73,000 Active Dillon Consulting Auditor for the Climate Registry Jul-25 $26,400 Active MRW Associates
Subscription to rate forecasting products
Jul-25 $9,600 Active
LinkedIn LinkedIn Learning Subscription Jul-25 $16,660 Active Meltwater Media coverage subscription Jul-25 $27,770 Active Baker Tilly Financial audit services Jul-25 $62,000 Active Snowflake AWS data subscription Jul-25 $100,000 Active
Workable
Applicant Management Platform
Subscription
Jul-25 $17,496 Active
Smartsheet, Inc. Project management platform Jul-25 $2,436 Active Non-Energy Contracts Executed Under Chief Executive Officer Authority Rolling 12 months.

Agenda Page 100
Hootsuite, Inc. Social media boosting tool Jun-25 $18,799 Active Air Fresh Marketing LLC Street teams support services Jun-25 $20,000 Active Lattice
HR management platform subscription
Jun-25 $35,067 Active
Getty Images Subscription for image assets Jun-25 $8,620 Active EGIA
Incentive management services renewal
term
May-25 $92,510 Active
Spirit Media Videography services for CPA teaser video May-25 $97,375 Active Trinity Consultants
Third-party verification services for 2024
EPE emissions data report
May-25 $24,000 Active
BRB Law Legal services, regulatory May-25 $50,000 Active Raimi & Associates
End date extension only for Inglewood Oil
Field energy storage feasibility study
May-25 $0 Active End date extension only
EPRI Research Participation Agreement Apr-25 $54,000 Active USGBC California
Workforce development grant for wildfire
recovery resources
Apr-25 $50,000 Active
IFUS ICE Futures Platform access Apr-25 $0 Active
Redhill Group Customer Research Services Apr-25 $34,589 Active

Agenda Page 101