July 26, 2022
Board of Directors Meeting
2 VOLUNTARY ALLOCATION
MARKET OFFER
July 26, 2022
AGENDA ITEM 5.2
ITEM 5.2 – VOLUNTARY ALLOCATION MARKET OFFER
OVERVIEW
• CPUC-ordered process
• Opportunity to secure renewable resources from
SCE and SDG&E
• Short-term and/or long-term allocations
• Purchased at Market Price Benchmark
• OCPA may resell purchased renewable energy
ITEM 5.2 – VOLUNTARY ALLOCATION MARKET OFFER
RECOMMENDATION
• Take available allocation of Short- and Long-Term
Voluntary Allocations
• Helps meet OCPA's long-term contracting
requirements
• Allows for procurement of new resources (i.e., will not meet all OCPA renewable energy requirements)
• Unbundled RECs are a very small portion of portfolio
• VAMO repeats in 2024
ITEM 5.2 – VOLUNTARY ALLOCATION MARKET OFFER
PROCESS
•Intent to enroll - July 1
•Approve Voluntary Allocation Agreement at July 26
Board meeting
•Execute Agreement by July 29
•Review with PEA future Market Offer opportunities
•Monitor CPUC regulatory oversight
ITEM 5.2 – VOLUNTARY ALLOCATION MARKET OFFER
RECOMMENDED ACTION(s)
Approve a voluntary allocation to OCPA of Southern California Edison’s Power Charge Indifference Adjustment short and long-term renewable energy portfolio through the CPUC’s Voluntary Allocation process.
Approve Voluntary Allocation Agreements with Southern California Edison for short and long-term renewable energy and authorize the Chief Executive Officer to execute the agreement and related documents.
Approve a voluntary allocation to OCPA of San Diego Gas and Electric’s Power Charge Indifference Adjustment short and long-term renewable energy portfolio through the CPUC’s Voluntary Allocation process.
Approve Voluntary Allocation Agreements with San Diego Gas and Electric for short and long-term renewable energy and authorize the Chief Executive Officer to execute the agreements and related documents.