MINUTES
REGULAR MEETING
BOARD OF DIRECTORS
ORANGE COUNTY POWER AUTHORITY
Monday, November 25, 2024
1. CALL TO ORDER
Chair Jung called to order the Regular Meeting of the Orange County Power Authority Board of Directors at 11:03 a.m. on Tuesday, November 25, 2024.
2. PLEDGE OF ALLEGIANCE
Vice Chair Sonne led the Pledge of Allegiance.
3. ROLL CALL
Present: Director Tammy Kim City of Irvine
Director Kathleen Treseder City of Irvine
Vice Chair Susan Sonne City of Buena Park
Chair Fred Jung City of Fullerton
4. PUBLIC COMMENTS ON AGENDA ITEMS
None.
5. PUBLIC COMMENTS ON NON-AGENDA ITEMS
None.
6. DIRECTOR ANNOUNCEMENTS & REPORTS ON CONFERENCES/EVENTS
ATTENDED
7. CONSENT CALENDAR
ACTION
Vice Chair Sonne made the motion, seconded by Director Kim to:
Approve consent calendar items 9.1 – 9.5.
The motion carried unanimously by the following 4-0 vote:
Ayes: Chair Jung, Vice Chair Sonne, Director Treseder, Director Kim, Noes: None
Absent: None
1. MINUTES FOR THE REGULAR BOARD MEETING OF OCTOBER 15, 2024
Action Taken:
Approved as submitted.
2. COMMUNITY ADVISORY COMMITTEE (CAC) REPORT
Action Taken:
Receive and file.
3. LEGISLATIVE AND REGULATORY COMMITTEE UPDATE
Action Taken:
Receive and file.
4. REGULATORY AND LEGISLATIVE UPDATE
Action Taken:
Receive and file.
5. RESOLUTION APPROVING THE CITY OF FOUNTAIN VALLEY’S
MEMBERSHIP IN ORANGE COUNTY POWER AUTHORITY
Action Taken:
Adopt Resolution No. 2024-08, a “Resolution of the Board of Directors of the Orange County Power Authority Approving the City of Fountain Valley’s Membership in Orange County Power Authority.”
8. REGULAR CALENDAR
1. CONDUCT A PUBLIC HEARING AND ADOPT A RESOLUTION
APPROVING AMENDMENT NO. 2 TO THE OCPA COMMUNITY
CHOICE AGGREGATION IMPLEMENTATION PLAN AND
STATEMENT OF INTENT
Chair Jung opened the public hearing at 11:09 a.m. There being no public testimony, Chair Jung closed the public hearing at 11:09 a.m.
CEO Mosca and General Counsel Norvell provided a brief summary of this item.
Vice Chair Sonne made the motion, seconded by Director Kim to:
1. Conduct a Public Hearing.
2. Adopt Resolution 2024-09: A Resolution of the Board of Directors of Orange County Power Authority adopting an amendment to the Community Choice Aggregation Implementation Plan and Statement of Intent Providing New Electric Service to the City of Fountain Valley.
The motion carried unanimously by the following 4-0 vote:
Ayes: Chair Jung, Vice Chair Sonne, Director Treseder, Director Kim, Noes: None
Absent: None
2. RECEIVE THE FINANCIAL AUDIT REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2024 AND 2023 FROM PISENTI & BRINKER, LLP CFO Law provided a brief introduction of this time and introduced _________ from Pisenti & Brinker who provided the summary of the presentation for this item.
Director Kim made the motion, seconded by Director Treseder to:
Receive the Year-End Financial Statements and Independent Auditor’s Report for the fiscal year ended June 30, 2024 and 2023 from Pisenti & Brinker, LLP.
The motion carried unanimously by the following 4-0 vote:
Ayes: Chair Jung, Vice Chair Sonne, Director Treseder, Director Kim, Noes: None
Absent: None
3. RATIFY RATES EFFECTIVE NOVEMBER 1, 2024
CFO Law provided a brief summary of this item.
Vice Chair Sonne made the motion, seconded by Director Treseder to:
Ratify rates effective November 1, 2024.
The motion carried unanimously by the following 4-0 vote:
Ayes: Chair Jung, Vice Chair Sonne, Director Treseder, Director Kim, Noes: None
Absent: None
4. APPROVAL OF THE AMENDMENT TO THE CHIEF EXECUTIVE
OFFICER EMPLOYMENT AGREEMENT
General Counsel Norvell provided a summary of this item.
Director Treseder made the motion, seconded by Vice Chair Sonne to:
Approval of the Amendment to the Chief Executive Officer Employment Agreement.
The motion carried unanimously by the following 3-1 vote:
Ayes: Chair Jung, Vice Chair Sonne, Director Treseder,
Noes: Director Kim,
Absent: None
5. APPROVE AGREEMENT FOR POWER SUPPLY PORTFOLIO
MANAGEMENT SERVICES
Director of Power Resources Louis Ting provided a brief summary of this item.
Director Kim made the motion, seconded by Vice Chair Sonne to:
Approve Agreement with Pacific Energy Advisors to provide Power Supply Portfolio Management Services for the term of January 1, 2025, through December 31, 2025, for a total not-to-exceed amount of $588,000.
The motion carried unanimously by the following 4-0 vote:
Ayes: Chair Jung, Vice Chair Sonne, Director Treseder, Director Kim, Noes: None
Absent: None
6. APPROVE LONG-TERM TRANSACTION CONFIRMATION FOR FIRM
AND BUNDLED RENEWABLE ENERGY – POWER CONTENT
CATEGORY ONE (PCC1) WITH SHELL ENERGY NORTH AMERICA
(US), L.P.
Director of Power Resources Louis Ting provided a brief summary of this item.
Vice Chair Sonne made the motion, seconded by Director Treseder to:
Approve long-term transaction confirmation with Shell Energy North America (US), L.P. (“Confirmation”) for renewable energy qualified under California Renewable Portfolio Standard PCC1 to be delivered daily during the defined hourly period for a term from January 1, 2027 to December 31, 2040.
The motion carried unanimously by the following 4-0 vote:
Ayes: Chair Jung, Vice Chair Sonne, Director Treseder, Director Kim, Noes: None
Absent: None
STAFF REPORT
CEO Mosca provided his full report in the agenda packet. He and Chair Jung presented certificates to staff members to appreciate their years of service and celebrate their work anniversaries. CEO Mosca also introduced two new employees: Energy Programs Manager Pranesh Venugopal and Finance and Risk Manager Hongyan Sheng.
9. ADJOURNMENT
There being no further business to come before the Board, Chair Jung adjourned the November 25, 2024, Orange County Power Authority Board Regular meeting at 11:53 a.m.
Submitted by:
Pat Jacquez-Nares, Authority Secretary