Agenda — Pioneer Community Energy Board of Directors, April 16, 2026 (part 1 of 2)

Board of Directors
Chair: Alice Dowdin Calvillo
Vice Chair: Greg Janda
City of Auburn
Alice Dowdin Calvillo
Sandra Amara, Alternate
City of Colfax
Sean Lomen
Kim Douglass, Alternate
County of El Dorado
Lori Parlin
Brian Veerkamp, Alternate
City of Grass Valley
Tom Ivy
Jan Arbuckle, Alternate
City of Lincoln
Richard Pearl
John Reedy, Alternate
Town of Loomis
David Ring
Danny Cartwright, Alternate
Nevada City
Gary Petersen
Lou Ceci, Alternate
County of Placer
Anthony DeMattei
Suzanne Jones
Bonnie Gore, Alternate
City of Placerville
Ryan Carter
David Yarbrough, Alternate
City of Rocklin
Greg Janda
David Bass, Alternate
Pioneer Community Energy
Board of Directors
April 16, 2026

REGULAR MEETING
3:00 PM
Pioneer Community Energy Board Room
2510 Warren Drive, Suite B, Rocklin, CA 95677
Remote Location:

County of El Dorado, 330 Fair Lane, Building A, Placerville, CA 95667 This special meeting will convene in person at the address printed above, be accessible on the Zoom platform at the following link:
https://us06web.zoom.us/j/89020017279;
and live streamed for viewing on the Pioneer website:
https://pioneercommunityenergy.org/about-us/meetings-and-agendas/.

Members of the public may participate in person or by remote audio/visual access.

Those who participated remotely and wish to comment should be prepared to use the Zoom platform via computer or telephone. Public comment will be opened for each agenda item in sequence.

How to Participate Using Zoom
You can join the meeting using the following link:
https://us06web.zoom.us/j/89020017279.

When you join the meeting, you will be muted by default. To inform the Clerk that you would like to make a public comment, you will use the “Raise Hand” feature.

Public Comment via Computer or Smartphone
If you would like to make a comment, you will use the “Raise Your Hand” feature.

Please note that you should only raise your hand during the item to which you will comment. Instructions for using the “Raise Hand” feature when using a computer or mobile device can be found at the link:
https://support.zoom.us/hc/en-us/articles/205566129-Raising-your-hand-in-a-webinar Public Comment via telephone (Audio Only Option)

1. Dial 1 (699) 900-6833

2. When asked for the meeting ID, enter 890 2001 7279#

3. When asked for your participant ID, press # to continue.

You will be muted by default. To inform the Clerk that you would like to make a comment, during each agenda item, dial *9 to “Raise your hand.” When it is your turn to speak, the Clerk will identify you by the last three digits of your phone number; at that time, dial *6 to unmute yourself and state your name and comment for the record. Please note that you should only raise your hand during the item to which you will comment.

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COMMUNITY ENERGY
I. GENERAL ADMINISTRATIVE FUNCTION – PART 1
A. CALL TO ORDER

1. Roll Call
B. PRESENTATIONS BY THE PUBLIC ON MATTERS NOT ON THE AGENDA WITHIN THE

JURISDICTION OF THE BOARD
Persons may address the Board on items not on the agenda and within the jurisdiction of the Board. Please limit comments to 3 minutes per person. According to State Law (the Brown Act), items must first be noticed on the agenda before any discussion or action, so the Board is prohibited from discussing issues not on the agenda brought to them at this time.

C. AGENDA REVIEW
II. CONSENT AGENDA
1) APPROVAL OF THE CONSENT AGENDA
All items on the Consent Agenda have been recommended for approval by the Chief Executive Officer. All Consent items will be approved by a single vote. Anyone may ask to address Consent items prior to the Board acting, and the item may be moved for discussion. a) ADMINISTRATION
Approve the minutes of the March 19, 2026 Regular Meeting. (ECKERT) b) FINANCE & ADMINISTRATION
Receive Fiscal Year 2025-26 Draft Monthly Financial Reports through February 2026. (KOEHN) c) ADMINISTRATION
Adopt Resolution authorizing the Chief Executive Officer to execute consulting services agreements with Chapman & Cutler, LLP to serve as Legal Counsel; PFM Financial Advisors, LLC to serve as Municipal Financial Advisors; and, PFM Swap Advisors LLC for Swap Advisory Services related to Pioneer’s second energy prepayment transaction. (ECKERT) d) FINANCE & ADMINISTRATION
Adopt Resolution approving and authorizing the Chief Executive Officer to execute First Amendment to Amended and Restated Credit Agreement No. 1 and execute any and all related documents and agreements to modify Line of Credit and Letter of Credit agreements with Columbia Bank. (KOEHN) III. REGULAR AGENDA
2) ADMINISTRATION
Authorize the Chief Executive Officer to Explore the Opportunity for Pioneer to Expand its Territory to include the City of South Lake Tahoe (ACTION-ECKERT) Recommendation: Authorize the Chief Executive Officer to explore the opportunity for Pioneer to expand its territory to include the City of South Lake Tahoe. 3) LEGISLATIVE & REGULATORY
2026 Pioneer Legislative Policy and Platform (ACTION-KANG) Recommendation: Receive and approve the 2026 Pioneer Legislative Policy and Platform that includes the following current recommendations: (1) Adopt support position on: Assembly Bill (AB) 706 (Aguiar-Curry), AB 1761 (Rogers), AB 2266 (Schultz), Senate Bill (SB) 1138, SB 875; and, (2) Adopt oppose position on: SB 1295 (Stern).
4) FINANCE & ADMINISTRATION
Adopt Resolution Approving a Power Charge Indifference Adjustment Offset Credit for Large Load Customers from April 2026 through December 2026 (ACTION-KOEHN) Recommendation: Adopt Resolution approving a Power Cost Indifference Adjustment Offset Credit for Large Load Customers from April 2026 through December 2026. 5) POWER RESOURCES
Bioenergy Market Adjusting Tariff Projects (DISCUSSION-KANG) Recommendation: Receive an update from Pioneer Community Energy staff regarding projects approved for the Bioenergy Market Adjusting Tariff (BioMAT). 6) FINANCE & ADMINISTRATION
Information Technology and Security Audit Presentation (DISCUSSION-KOEHN) Recommendation:

Receive a presentation on the Information Technology and Security Audit results.

IV. GENERAL ADMINISTRATIVE FUNCTION – PART 2
A. BOARD MEMBER COMMUNICATIONS
B. CHIEF EXECUTIVE OFFICER COMMUNICATIONS
C. ITEMS FOR INFORMATION

1. Glossary of Terms
D. ADJOURNMENT TO CLOSED SESSION

1. Conference with Legal Counsel – Existing Litigation (GC §54956.9(d)(1)) The Governing Board finds, based on advice from legal counsel, that discussion in open session will prejudice the position of the local agency in the litigation.

Name of Case: Kolpitcke v. Pioneer Community Energy.

Names of Parties: Plaintiff Kirstin Kolpitcke; Defendant Pioneer Community Energy.

Case No. S-CV-0054062 (Placer County Superior Court).

E. REPORT OF CLOSED SESSION
F. ADJOURNMENT
Upcoming Meeting of the Board:

May 21, 2026
Accommodations
Pioneer Community Energy is committed to ensuring that persons with disabilities are provided with the resources to participate fully in its public meetings. If you are hearing impaired, we have listening devices available. If you require additional disability-related modifications or accommodations, including auxiliary aids or services, please contact the Clerk of the Board. If requested, the agenda shall be provided in appropriate alternative formats for persons with disabilities. All requests must be in writing and must be received by the Clerk five business days prior to the scheduled meeting for which you are requesting accommodation. Requests received after such time will be accommodated only if time permits.

Affidavit of Posting
I, Teresa Willock, Board Secretary, declare under penalty of perjury that the foregoing agenda for the April 16, 2026 regular meeting of the Pioneer Community Energy Governing Board was posted and available for public review on April 10, 2026 at the offices of Pioneer Community Energy, 2510 Warren Drive, Suite B, Rocklin, CA 95677; at remote location County of El Dorado, 330 Fair Lane, Building A, Placerville, CA 95667; and, was on the Pioneer website at: https://pioneercommunityenergy.org/about-us/meetings-and-agendas/.

All public materials related to an item on this agenda submitted to the Governing Board after distribution of the agenda packet are also made available for public inspection on Pioneer’s website at:
https://pioneercommunityenergy.org/about-us/meetings-and-agendas/. Any document provided at the meeting by staff or by the public will be provided by the Board Clerk upon request by phone at (916) 758-8946, or by email at: [email protected].

PIONEER COMMUNITY ENERGY

GOVERNING BOARD

REGULAR MEETING
March 19, 2026

MINUTES
Entry No. 1
Heard General Administrative Functions – Part I
Call to Order
Pioneer Community Energy Governing Board met in open session at 3:00 PM on March 19, 2026. The Members convened in person and the meeting was accessible to the public at Pioneer Community Energy, 2510 Warren Drive, Suite B, Rocklin, California 95677; the meeting was accessible for viewer participation on the Zoom platform at the following link: https://us06web.zoom.us/j/89020017279; and, was live streamed for viewing on the Pioneer website: https://pioneercommunityenergy.org/about-us/meetings-and-agendas/.

A. Roll Call

Present: City of Auburn (Dowdin Calvillo), City of Colfax (Lomen), County of El Dorado (Parlin), City of Grass Valley (Ivy), City of Lincoln (Reedy), Town of Loomis (Ring), County of Placer (DeMattei), City of Placerville (Carter), City of Rocklin (Janda).

Absent: Nevada City (Petersen), County of Placer (Jones).

Alternate Director Reedy attended for City of Lincoln. All Directors present participated in person at Pioneer Community Energy, 2510 Warren Drive, Suite B, Rocklin, California 95677. No remote locations were utilized for this meeting.

Chair Dowdin Calvillo presided over the meeting.

B. Public Comment
There were no comments from members of the public on items not listed on this agenda.

C. Agenda Review
Reviewed and made no revision to the meeting agenda for March 19, 2026.

Entry No. 2
Acted on the Consent Agenda as follows:

Approved the minutes of the February 26, 2026 Regular meeting.

Received Fiscal Year 2025-26 Draft Monthly Financial Reports through January 2026.

Adopted Resolution 2026-9 authorizing the Chief Executive Officer to execute a second amendment to the agreement with Colantuono Highsmith Whatley, PC for an increase of $300,000 for a total contract amount not to exceed $650,000.

DRAFT - ITEM 1a
DRAFT – March 19, 2026 – page 2
MOTION: DeMattei/Lomen. Vote: 9:0:2
ROLL CALL: Carter, DeMattei, Dowdin Calvillo, Ivy, Janda, Lomen, Parlin, Reedy, Ring.

Noes: None.

Abstain: None.

Absent: Petersen, Jones.

Director Jones arrived following consideration of the Consent Agenda.

Entry No. 3
Power Prepay Bond
Chief Executive Officer Eckert introduced the item by summarizing the purpose and need for power prepay transactions. In 2022, the Board of Directors approved Pioneer’s first long-term power prepay transaction as a low-risk to no-risk opportunity for Pioneer with advantage over competitors and tax-exempt financing.

This is a tried and true transaction as it has been used for 30 years with municipalities and more recently with CCAs for renewable energy purchases.

Pioneer is in market now and in the last year has closed roughly $2 billion in notional value power prepay agreements in preparation to 1) meet requirement for renewable energy to make up sixty percent of Pioneer’s energy portfolio; and, 2) in preparation for expansion. Pioneer should take advantage of tax savings and financing to save rate payer dollars. The impact of the first power prepay transaction is that Pioneer realized savings of about $2.3 million per year, about $400 million in notional value. The new transaction will be about $1-2 billion in notional value bringing even greater savings.

Chief Executive Officer Eckert introduced Michael Berwanger, PFM Financial Advisors, who guided Pioneer through the first prepay transaction and through process for obtaining a credit rating.

Received an overview of the long-term power prepay transaction from Michael Berwanger, PFM Financial Advisors.

Chief Executive Officer Eckert discussed the prepay bond schedule being compressed to realize savings in second half of 2026 if the market is more favorable, informed the Board of Directors that staff will be bringing the consultant agreements for the Board’s consideration in April and that the final agreement will be considered in May.

Entry No. 4
Adopt Resolution Authorizing Teleconferencing as an Eligible Multijurisdictional Body Board Chair Dowdin Calvillo introduced the item as it provides an additional opportunity for members who live twenty or more miles from a meeting location to utilize personal remote participation.

Received an overview of authorized teleconferencing as an eligible multijurisdictional body from General Counsel David Ruderman, Colantuono, Highsmith & Whatley, PC.

This would authorize the Board to use teleconferencing pursuant to the limitations and procedures outlined in Government Code section 54953.8.7:
a. The agenda for the teleconferenced Board meeting must (i) identify each Board member who plans to participate remotely and (ii) identify and include an opportunity for the public to attend the meeting and provide public comment via a call-in or internet-based service option.

DRAFT – March 19, 2026 – page 3
b. The Board member attending remotely shall participate using audio-visual technology. c. At least a quorum of Board members shall participate from one or more physical locations that are open to the public and within the boundaries of Pioneer’s jurisdiction. d. The Board member attending remotely shall be more than 20 miles each way from any physical location of the meeting that is open to the public and within the boundaries of Pioneer’s jurisdiction. e. Each Board member shall not participate remotely at more than two meetings per year. f. A Board member shall not participate remotely if they receive compensation for their services on the Board, excluding reimbursement for actual and necessary expenses. g. A Board member who participates from a remote location must disclose, before any action is taken, whether any other individuals 18 years of age or older are present in the room at the remote location, and the general nature of the Board member's relationship with the individual(s). h. In the event of a disruption that prevents the Board from broadcasting the meeting to members of the public using the call-in option or internet-based service option, or in the event of a disruption within Pioneer’s control that prevents members of the public from offering public comments using the call-in option or internet-based service option, the Board shall take no further action on items appearing on the meeting agenda until public access to the meeting via the call-in option or internet-based service option is restored. i. The Board must provide reasonable time to members of the public participating remotely to provide public comment via the call-in option or internet-based service option. j. The minutes of a meeting at which a Board member participates remotely pursuant to this authority must identify (i) the member(s) participating remotely and (ii) the specific provision of law (Gov.

Code § 54953.8.7) relied upon to permit participation by teleconferencing. k. All votes taken during a teleconferenced meeting shall be by rollcall.

This is not to limit a Board member’s right to participate remotely in Board meetings as a reasonable accommodation for a disability.

Adopted Resolution 2026-10 authorizing Teleconferencing as an Eligible Multijurisdictional Body.

MOTION: Ring/Lomen. Vote: 10:0:1
ROLL CALL: Carter, DeMattei, Dowdin Calvillo, Ivy, Janda, Jones, Lomen, Parlin, Reedy, Ring.

Noes: None.

Abstain: None.

Absent: Petersen.

Entry No. 5
Authorize the Chief Executive Officer to Extend the AC Tune-Up Rebate Program to Commercial and Industrial Customers
Chief Executive Officer Eckert introduced the item and relayed that a common theme heard at last year’s Placer Business Alliance conference was that we need to do more for our commercial and industrial customers. As we are starting the programs season, our focus is to help our commercial and industrial customers as much as we can and this is the first step in that direction by extending the AC Tune-Up Rebate Program to Commercial and Industrial customers.

Chief Executive Officer Eckert introduced Gina Stassi-Vanacore, Director of Communications, who presented an overview of the AC Tune-Up Rebate Program. For residential customers, the program was very popular with customers and participating contractors resulting in about 2,100 rebates issued in 2025.

DRAFT – March 19, 2026 – page 4
Business customers have inquired about rebate programs and recommendations to expand the program to business customers has come from several sources. Staff surveyed participating contractors to gauge interest for a possible AC Tune-Up rebate and the interest was high and very positive. The proposed incentive amount for Commercial and Industrial Customers would be $150 per tune-up per customer per season.

Based on the number of businesses in our service area and current program participation rates, staff estimates that 500 businesses potentially would take advantage of this offer in 2026 for a fiscal impact of $75,000.

Staff confirmed that businesses with multiple locations would be eligible to remit one application per address per season; confirmed energy savings being that customers save on efficiency and extending the life of the AC unit; and, discussed that this program generates positive feelings, not so much tangible savings to Pioneer but good for customers.

The Board authorized the Chief Executive Officer to extend the AC Tune-Up Program to commercial and industrial customers.

MOTION: Jones/Carter. Vote: 10:0:1
ROLL CALL: Carter, DeMattei, Dowdin Calvillo, Ivy, Janda, Jones, Lomen, Parlin, Reedy, Ring.

Noes: None.

Abstain: None.

Absent: Petersen.

Entry No. 6
Programs Update
Received an update on Pioneer Community Energy’s Programs.

Chief Executive Officer Eckert introduced Gina Stassi-Vanacore, Director of Communications, who presented an overview of Pioneer Community Energy’s Programs.

Pioneer currently offers eleven different programs, each with a distinct offering. All programs align with 2024-27 Strategic Plan; and, for Fiscal Year 2025-26, the Programs budget represents roughly one percent of Pioneer’s overall budget ($2.1 million).

Programs fall into three broad categories and advance strategic objectives:
1) Customer facing money-saving programs: SC Tune-Up Rebate, PowerShift Rewards, GridGen/GridGen CARE, and LED Discount Lighting.
2) Demand response and load management programs advance regulatory compliance: PowerShift Rewards, GridGen/GridGen CARE, Hourly Flex Pricing Program Pilot, and Ice Energy. 3) Member only programs create shared benefits: Clean Fleet Revenue, Solar RECs.

The majority of Pioneer’s programs are cost-neutral and some generate revenue (GridGen, clean Fleet Revenue Program, Solar RECs).

Planning for 2026 includes: bringing back popular seasonal programs (AC Tune-Up Rebate, PowerShift Rewards), recruit additional members to the Community Advisory Committee, expand AC Tune-Up Rebate to commercial and industrial customers, continue GridGen promotion (emphasis from now through mid-June on July 4 expiration of federal subsidies, create additional programs that align with strategic priorities, meet customer needs), promote cost-neutral program participation to expansion communities, and closely monitor programs for effectiveness and success.

DRAFT – March 19, 2026 – page 5
The Directors expressed appreciation of staff on the presentation and their work.

Staff confirmed GridGen (solar+battery) successful with about 250 projects in the system at differing stages; and, confirmed that staff is capitalizing on marketing to reach interested customers before the tax incentive expires.

Director Janda requested information on detailed results as a handout, not necessarily an agenda item.

Entry No. 7
Rates Messaging
Received a presentation on messaging related to 2026 rates, the Power Charge Indifference Adjustment and Pacific Gas & Electric’s Base Services Charge.

Nicole Sena, Customer Care Manager, presented an overview of 2026 rates effected by 1) PG&E lowering its generation rate effective January 1, 2026; 2) The PCIA rate paid by CCA customers dramatically increased effective January 1, 2026; and, 3) the Pioneer Board approved lowering Pioneer’s electricity generation rates by 16 percent to create a 10 percent discount to PG&E rates for the calendar year 2026.

Since January, Chief Executive Officer Eckert had a series of one-on-one meetings with Board Members about messaging and approach and staff queried other CCAs on messaging. The general consensus was to avoid focus on the PCIA and instead maintain focus on 1) providing rate stability and competitiveness; and, 2) added value Pioneer offers through local investment and engagement, sponsorships, and programs.

Provide localized messaging with focus on 1) cumulative savings of $145 million through 2025; 2) local presence with sponsorships, programs, and community reinvestment; and, 3) regional impact with local power purchase agreements, advocacy, economic development projects like microgrids and biomass.

Staff confirmed Pioneer’s new generation rates are effective March 1, 2026 and the April billing will show all new rates (Pioneer’s new generation rate and PG&E’s new Base Service Charge); and, recognized messaging regarding PG&E’s gas rates and higher usage in winter increases bills, not due to Pioneer’s electric generation rate.

Staff informed the Board that talking points specific to their customer area have been provided for their reference and use.

Entry No. 8
Heard General Administrative Function – Part II
Board Member Communications
There were no reports from the Members of the Board of Directors.

Chief Executive Officer Communications
Chief Executive Officer Eckert congratulated Board Chair Dowdin Calvillo for participating in an interview with COMSTOCK magazine that included a feature of women in leadership but also an endorsement of Pioneer.

Chief Executive Officer Eckert informed the Board that the Community Advisory Committee (“CAC”) meets every other month to discuss and brainstorm programs for Pioneer customers. Pioneer is fortunate to have CAC members who are committed to Pioneer and have a depth of understanding about energy policy and innovation. Ideally, the CAC should have representatives from each of our member agencies. Staff is trying DRAFT – March 19, 2026 – page 6
to recruit additional new members to CAC, particularly people who are interested in developing programs at the customer level. Then, requested the Board to direct interested individuals to contact Programs staff.

Chief Executive Officer Eckert announced that Pioneer had been confirmed to join the Greater Sacramento Economic Council (“GSEC”) Board of Directors. This will be a good partnership as GSEC is looking for the energy players in the region to be represented on their Board and our current and future service territory overlaps much of GSEC’s area. This will create excellent networking opportunities for Pioneer and provide early signals for load growth in our service territory that will enhance planning.

Items for Information
Received the Glossary of Terms.

Adjournment
The meeting adjourned at 4:15 PM.

Page 1 of 1 ends

Staff Report – Item 1b
To: The Governing Board
From: Linda Praseudsuk, Sr. Financial Analyst
Item 1b: Receive Fiscal Year 2025-26 Draft Monthly Financial Reports Through February 2026 Date: 4/16/2026

RECOMMENDATION
Receive Fiscal Year 2025-26 Draft Monthly Financial Reports through February 2026.

BACKGROUND
The Year-To-Date (YTD) financial reports are produced by Maher Accountancy for Board member and management review. Although these reports are unaudited, they provide the most up-to-date financial data for Pioneer Community Energy. The mPOWER program accepted its last application August 2021 and mPOWER activity is now limited to administering the outstanding mPOWER Bonds. Financials for the mPOWER program will be included in the audited year-end reports. For February 2026, the financial reporting package includes the following reports for the CCA Fund only:
• Statement of Net Position (Balance Sheet) – Accounting of Assets, Liabilities and Net Position as of the reporting period end date for the CCA program. • Statement of Revenues, Expenses, and Changes in Net Position (P&L) – Accounting of all revenues, expenses, and changes in net position on a YTD basis through the reporting period end date for the CCA program.
• Budgetary Comparison Schedule (Budget to Actuals) – Comparison of budget to actuals on a YTD basis through the reporting period end date for the CCA program.

STRATEGIC PLAN
Strategic Priority: Be Fiscally Strong and Resilient

FISCAL IMPACT
The YTD change in net position through eight months of the fiscal year is $15.3 million.

ATTACHMENTS

1. Financial Reports through February 28, 2026
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COMMUNITY ENERGY
1 ACCOUNTANTS’ COMPILATION REPORT
Management
Pioneer Community Energy
Management is responsible for the accompanying financial statements of the CCA Program of Pioneer Community Energy (a California Joint Powers Authority) which comprise the statement of net position as of January 31, 2026, and the related statement of revenues, expenses, and changes in net position for the seven months then ended in accordance with accounting principles generally accepted in the United States of America. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the accompanying statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, conclusion, nor provide any assurance on these financial statements.

Management has elected to omit substantially all of the disclosures and the statement of cash flows required by accounting principles generally accepted in the United States of America in these interim financial statements. Pioneer Community Energy’s annual audited financial statements include the note disclosures and statement of cash flows omitted from these interim statements. If the omitted disclosures and the statement of cash flows were included in these financial statements, they might influence the user’s conclusions about Pioneer Community Energy’s financial position, results of operations, and cash flows. Accordingly, these financial statements are not designed for those who are not informed about such matters.

We are not independent with respect to Pioneer Community Energy because we performed certain accounting services that impaired our independence.

Maher Accountancy
San Rafael, CA
March 10, 2026
1101 Fifth Avenue, Suite 200 San Rafael, CA 94901 415 459 1249 mahercpa.com MAHER

ACCOUNTANCY
CCA Program
ASSETS
Current assets
Cash and cash equivalents 52,264,050$
Investments 133,636,040
Accounts receivable, net of allowance 20,756,143
Accrued revenue 8,763,838
Other receivables 353,753
Interest receivable 520,000
Prepaid expenses 2,690,812
Deposits 507,455
Total current assets 219,492,091
Noncurrent assets
Capital assets, net of depreciation and amortization 1,166,816 Deposits 795,693
Total noncurrent assets 1,962,509
Total assets 221,454,600

LIABILITIES
Current liabilities
Accrued cost of electricity 19,606,949
Accounts payable 1,079,476
Other accrued liabilities 1,195,469
Lease liability 131,596
Supplier security deposits 312,000
Total current liabilities 22,325,490
Noncurrent liabilities
Lease liability 679,402
Total noncurrent liabilities 679,402
Total liabilities 23,004,892

NET POSITION
Net investment in capital assets 355,818
Unrestricted net position 198,093,890
Total net position $ 198,449,708

PIONEER COMMUNITY ENERGY

STATEMENT OF NET POSITION
As of February 28, 2026

CCA PROGRAM
See accountants' compilation report. 2
CCA Program

OPERATING REVENUES
Electricity sales, net 156,369,527$
Other income 35,999
Total operating revenues 156,405,526

OPERATING EXPENSES
Cost of electricity 136,079,304
Contract services 4,212,248
Staff compensation 3,553,635
Other operating expenses 1,672,869
Depreciation and amortization 125,796
Total operating expenses 145,643,852
Operating income (loss) 10,761,674

NONOPERATING REVENUES (EXPENSES)
Investment income 4,638,251
Interest expense (49,605)
Nonoperating revenues (expenses), net 4,588,646
CHANGE IN NET POSITION 15,350,320
Net position at beginning of period 183,099,388
Net position at end of period 198,449,708$
Eight Months Ended February 28, 2026

AND CHANGES IN NET POSITION

STATEMENT OF REVENUES, EXPENSES

CCA PROGRAM

PIONEER COMMUNITY ENERGY
See accountants' compilation report. 3
Participation Rates – February 2026
Participation Rate February 2026 February 2025
AUBURN INC 85.60% 85.62%
COLFAX INC 88.29% 87.69%
GRASS VALLEY INC 96.28% 96.76%
LINCOLN INC 83.08% 82.60%
LOOMIS INC 87.05% 86.97%
NEVADA CITY INC 97.84% 97.87%
PLACERVILLE INC 85.80% 85.37%
ROCKLIN INC 90.34% 90.26%
UNINC EL DORADO CO 79.83% 79.68%
UNINC PLACER CO 84.78% 84.69%
Grand Total 84.40% 84.26%
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COMMUNITY ENERGY
Total Pioneer Customers(# of Accounts)
200,000
180,000
176,990 172,572
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0 February 2026 February 2025
1 ACCOUNTANTS’ COMPILATION REPORT

Board of Directors
Pioneer Community Energy
Management is responsible for the accompanying special purpose budgetary comparison schedule for the CCA Program of Pioneer Community Energy, a California Joint Powers Authority, for the eight months ended February 28, 2026, and for determining that the budgetary basis of accounting is an acceptable financial reporting framework. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the accompanying statement nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any assurance on this special purpose budgetary comparison statement.

The special purpose statement is prepared in accordance with the budgetary basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United States of America. This report is intended for the information of the Board of Directors of Pioneer Community Energy.

Management has elected to omit substantially all of the note disclosures required by accounting principles generally accepted in the United States of America in these interim financial statements.

Pioneer Community Energy’s annual audited financial statements include the note disclosures omitted from these interim statements. If the omitted disclosures were included in these financial statements, they might influence the user’s conclusions about Pioneer Community Energy’s financial position, results of operations, and cash flows. Accordingly, these financial statements are not designed for those who are not informed about such matters.

We are not independent with respect to Pioneer Community Energy because we performed certain accounting services that impaired our independence.

Maher Accountancy
San Rafael, CA
April 7, 2026
1101 Fifth Avenue, Suite 200 San Rafael, CA 94901 415 459 1249 mahercpa.com MAHER

ACCOUNTANCY
2025/26 YTD
Amended
Budget
2025/26 YTD
Actual
2025/26 YTD
Variance
(Under) Over
2025/26
YTD
Actual/
Amended
Budget %
2025/26
Amended Budget
2025/26
Amended
Budget
Remaining

ENERGY REVENUES
Energy Sales $ 161,883,417 $ 158,456,159 $ (3,427,258) 98% $ 215,101,717 $ 56,645,558 Green100 Sales 87,351 53,244 (34,107) 61% 147,684 94,440 Congestion Revenue Rights and Battery Optimization 6,649,719 7,038,596 388,877 106% 8,700,000 1,661,404 Less Uncollectible Accounts (2,186,605) (2,139,877) 46,728 98% (2,905,867) (765,990) Total Operating Revenues 166,433,881 163,408,122 (3,025,759) 221,043,534 57,635,412

ENERGY EXPENSES
Power Supply 149,062,331 143,117,900 (5,944,431) 96% 206,171,746 63,053,846 GROSS MARGIN 17,371,550 20,290,222 2,918,672 14,871,788 (5,418,434)

OPERATING EXPENSES
Administration
Compensation 608,133 506,306 (101,827) 83% 942,200 435,894 Contract services 768,353 103,417 (664,936) 13% 999,830 896,413 Operating expenses 594,700 571,974 (22,726) 96% 841,770 269,796 Total Administration expenses 1,971,187 1,181,697 (789,490) 60% 2,783,800 1,602,103 Finance
Compensation 748,830 711,108 (37,722) 95% 1,145,745 434,637 Contract services 407,456 312,023 (95,433) 77% 596,000 283,977 Operating expenses 230,828 170,835 (59,993) 74% 307,025 136,190 Total Finance expenses 1,387,113 1,193,966 (193,147) 86% 2,048,770 854,804 Power Procurement
Compensation 783,062 721,367 (61,695) 92% 1,199,593 478,226 Contract services 1,271,634 963,724 (307,910) 76% 2,289,187 1,325,463 Operating expenses 325,667 261,042 (64,625) 80% 369,500 108,458 Total Power Procurement expenses 2,380,363 1,946,133 (434,230) 82% 3,858,280 1,912,147 Customer Care
Compensation 409,448 433,918 24,470 106% 641,672 207,754 Contract services 2,028,333 1,988,843 (39,490) 98% 2,985,000 996,157 Operating expenses 159,533 139,282 (20,251) 87% 159,050 19,768 Total Customer Care expenses 2,597,315 2,562,043 (35,272) 99% 3,785,722 1,223,679 Marketing & Communications
Compensation 480,066 397,859 (82,207) 83% 797,599 399,740 Contract services 173,333 60,111 (113,222) 35% 300,000 239,889 Operating expenses 344,933 199,317 (145,616) 58% 612,400 413,083 Total Marketing & Communications expenses 998,333 657,287 (341,046) 66% 1,709,999 1,052,712 Legislative & Regulatory
Compensation 598,067 541,285 (56,782) 91% 912,100 370,815 Contract services 248,022 171,845 (76,177) 69% 357,807 185,962 Operating expenses 21,733 13,696 (8,037) 63% 30,600 16,904 Total Legislative and Regulatory expenses 867,822 726,826 (140,996) 84% 1,300,507 573,681 Programs
Compensation 307,712 241,792 (65,920) 79% 461,568 219,776 Contract services 157,778 9,750 (148,028) 6% 700,000 690,250 Operating expenses 759,857 706,912 (52,945) 93% 990,926 284,014 Total Programs expenses 1,225,346 958,454 (266,892) 78% 2,152,494 1,194,040 Total Operating Expenses 11,427,479 9,226,406 (2,201,073) 81% 17,639,572 8,413,166 OPERATING INCOME (LOSS) 5,944,071 11,063,816 5,119,745 (2,767,784) (13,831,600)

NON-OPERATING REVENUES (EXPENDITURES)
Investment gains (losses) 3,808,672 4,638,250 829,578 122% 5,550,000 911,750 Miscellaneous income - 36,000 36,000 - (36,000)
Term Loan Debt Service (950,000) (534,466) 415,534 56% (950,000) (415,534) Additional Term Loan Principal (700,000) (1,075,279) (375,279) 0% (700,000) 375,279 Line/Letter of Credit Fees (750,000) (345,885) 404,115 46% (750,000) (404,115) Nonoperating revenues (expenditures), net 1,408,672 2,718,620 1,309,948 3,150,000 431,380 Contribution to/(from) Reserves 7,352,743$ 13,782,436$ 6,429,693$ 382,216$ (13,400,220)$

BUDGETARY COMPARISON SCHEDULE
Eight Months Ended February 28, 2026

PIONEER COMMUNITY ENERGY

CCA PROGRAM
441877.1 Page 1 of 3
Staff Report – Item 1c
To: The Governing Board
From: Donald Eckert Jr., Chief Executive Officer
Item 1c: Adopt Resolution Authorizing the Chief Executive Officer to Execute Consulting Services Agreements with Chapman & Cutler, LLP to Serve as Legal Counsel, PFM Financial Advisors, LLC to Serve as Municipal Financial Advisor, and PFM Swap Advisors LLC for Swap Advisory Services related to Pioneer’s Second Energy Prepayment Transaction
Date: 4/16/2026

RECOMMENDATION
Adopt resolution authorizing the Chief Executive Officer to execute consulting services agreements with Chapman & Cutler, LLP to serve as Legal Counsel, PFM Financial Advisors, LLC to serve as Municipal Financial Advisor, and PFM Swap Advisors LLC for Swap Advisory Services related to Pioneer’s second energy prepayment transaction.

BACKGROUND
At the March 19, 2026 Governing Board (“Board”) meeting, the Board received a presentation from Michael Berwanger of PFM Financial Advisors providing an introductory overview of Pioneer’s second energy prepayment transaction (“prepay”) process, goals, and timeline.

Prepay Overview
An energy prepayment – or “prepay” – is a long-term financial transaction available to municipal utilities and tax-exempt entities such as Community Choice Aggregators (“CCA”) that enables a meaningful power procurement cost savings opportunity. Further overview information can be found in the April Board documents.

Required Prepay Consultant Services
The prepay transaction requires the selection and involvement of multiple parties. The following are required services that Pioneer would need in order to continue the prepay process:
• Legal Counsel
o Role: Perform legal services on behalf of Pioneer related to a proposed clean energy prepayment transaction.
• Financial Advisor
o Role: Advise Pioneer in negotiations and facilitate investment agreement bidding process; recommended by Municipal Securities Ratemaking Board.
• Swap Advisor
o Role: Serve Pioneer as Municipal Advisor and designated Qualified Independent Representative in the provision of general swap advisory services related to any swap-related communication, interaction or other discussion between Pioneer and Swap Dealers (as such term is defined by the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Agenda Item: 4 Agenda Date: 4/16/2026
441877.1 Page 2 of 3
The following is a high-level timeline of steps in the prepay process:

ANALYSIS & DISCUSSION
Pioneer recommends the following consultants to meet the needs of the required prepay services:

Prepay Counsel & Disclosure Counsel – Chapman & Cutler, LLP Prepay Counsel’s role is to represent Pioneer’s interest, supporting drafting and negotiating terms of prepay agreement assignments and associated energy supply agreements, as well as reviewing and commenting on all documents on behalf of Pioner in connection with the proposed bond issuance.

Disclosure Counsel’s role is the preparation of the Official Statement/Prospectus and to provide advice about continuing disclosure obligations.

Financial Advisor – PFM Financial Advisors, LLC
Recommended by the Municipal Securities Rulemaking Board (“MSRB”), a municipal financial advisor represents and supports the Prepay Buyer (i.e., municipal Load Serving Entity) in the deal modeling and analysis, structuring negotiations, and document preparation. They effectively project manage and advocate for the CCA in the preparation and execution of the prepayment transaction.

As Pioneer currently has a contract with PFM Financial Advisory Services, LLC for general financial advisory services, including advice related to our credit rating, the proposed agreement with PFM will include these services that are not directly related to the prepay and will be payable directly by Pioneer, not to exceed $25 thousand.

Swap Advisors – PFM Swap Advisory Services, LLC
Serve Pioneer as Municipal Advisor and designated Qualified Independent Representative in the provision of general swap advisory services related to any swap-related communication, interaction or other discussion between Pioneer and Swap Dealers (as such term is defined by the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Solicitation Process
Staff did not conduct a formal solicitation process in the selection of the firms in the recommendation. However, given the niche market for prepayments, there are very few firms who provide this type of advisory service and experience. The recommended firms combined experience covers the majority of the electricity prepay deals February March April May June July
Kick-Off discussion with Goldman
Sachs <=====>
Presentation to Audit & Finance
Committee <=====>
Introduction of Transaction to the
Board <=====>
Completion of Professional Service
Agreements <=====>
Final Documents Presented to the
Board for Consideration <=====>
Approval of CCCFA to Issue Bonds <=====>
Take Bonds to Market <=====>
Start Receiving Savings <=====>
1c
Agenda Item: 4 Agenda Date: 4/16/2026
441877.1 Page 3 of 3
executed to date across the country with their most recent experience, including the successful execution of Pioneer’s first prepay deal in 2022.

STRATEGIC PLAN
The recommendation supports the following Strategic Plan goals:

1. Achieve Operational Optimization

2. Be Fiscally Strong and Resilient

FISCAL IMPACT
These fees will be structured as contingent fees paid out of the proceeds of the prepay transaction upon the successful execution of the transaction. The financial impacts of this recommendation are outlined below:
• Legal Counsel: $200,000
• Municipal Financial Advisor & Swap Advisory Services: $250,000 o Services related to Guaranteed Investment Contract bidding process is via a separate engagement letter not to exceed $91 thousand which may be payable either from bond proceeds or directly by the Investment Agreement provider(s)
o General Municipal Advisory Services shall not exceed $25,000 and will payable directly from Pioneer
It is important to note the financial benefit upon execution of this transaction is to achieve a maximum discount per year (yet to be determined) on power quantities delivered under the prepay, compared to the price in the assigned contracts. However, the exact discount will be dependent on the spread between taxable and tax-exempt debt rates.

ATTACHMENTS

1. Resolution authorizing the Chief Executive Officer to execute consulting services agreements with Chapman & Cutler, LLP to serve as Legal Counsel, PFM Financial Advisors, LLC to serve as Municipal Financial Advisor, and PFM Swap Advisors LLC for Swap Advisory Services related to Pioneer’s second energy prepayment transaction. 1c
441890.1
Before the Governing Board of
Pioneer Community Energy
Resolution No.: ____________
The following Resolution was duly passed by the Governing Board of Pioneer Community Energy at a regular meeting held April 16, 2026, by the following vote on roll call:

Ayes:

Noes:

Absent:

Signed and approved by me after its passage.
______________________________
Chair of the Governing Board
Attest:
_______________________
Secretary
WHEREAS, the pursuit of an energy prepayment enables a meaningful power procurement cost savings opportunity in which Pioneer Community Energy (“Pioneer”) utilizes its tax-exempt status to access the municipal bond market to prepay existing energy supply contracts at a discount rate; and
WHEREAS, Chapman & Cutler LLP was selected for legal counsel services; and WHEREAS, PFM Financial Advisors LLC was selected for the role of municipal financial advisor; and
WHEREAS, PFM Swap Advisors LLC was selected for the role of swap advisor; and WHEREAS, the fees for counsel total an amount not to exceed $200,000; and WHEREAS, the fees for the municipal financial advisor total an amount not to exceed $250,000; and
IN THE MATTER OF: RESOLUTION AUTHORIZING

THE CHIEF EXECUTIVE OFFICER TO EXECUTE

CONSULTING SERVICES AGREEMENTS WITH

CHAPMAN & CUTLER, LLP TO SERVE AS LEGAL

COUNSEL, PFM FINANCIAL ADVISORS, LLC TO

SERVE AS MUNICIPAL FINANCIAL ADVISOR,

AND PFM SWAP ADVISORS LLC FOR SWAP
ADVISORY SERVICES RELATED TO PIONEER’S

SECOND ENERGY PREPAYMENT TRANSACTION
Resolution 2026-___
April 16, 2026
2 441890.1
WHEREAS, The fees referenced above are contingent upon the successful execution of the prepay transaction and will be paid out of the proceeds of the transaction; and WHEREAS, PFM Financial Advisors LLC, under the role of municipal financial advisor, will also be providing services related to the Guaranteed Investment Contract bidding process in an amount not to exceed $91,000 which is payable by either the proceeds of the transaction or directly by the Investment Contract provider(s); and
WHEREAS, PFM Financial Advisors LLC currently has a contract with Pioneer for general financial advisory services for an amount not to exceed $25,000 and is payable directly by Pioneer; and
WHEREAS, such general financial advisory services provided by PFM Financial Advisors LLC will be included in the proposed agreement with PFM and shall replace the current agreement upon Board approval and execution.

BE IT RESOLVED, the Governing Board of Pioneer Community Energy, State of California, hereby finds, declares, and resolves as follows:

1. The above recitals are true and correct.

2. The Governing Board hereby authorizes the Chief Executive Officer to execute Consulting Services Agreements with the following firms for legal and financial representation for Pioneer Community Energy, as attached hereto as Exhibit “A”, with any minor clerical or clarifying changes proposed by the Chief Executive Officer and General Counsel:
a. Chapman & Cutler LLP – roles of Disclosure Counsel and Prepay Counsel b. PFM Financial Advisors, LLC to serve as municipal financial advisor c. PFM Financial Advisors, LLC for guaranteed investment contract services d. PFM Swap Advisory Services, LLC to serve as swap advisor

3. This Resolution shall take effect immediately upon its adoption.

Exhibit A: Consulting Services Agreement with Chapman & Cutler, LLP Exhibit B: Consulting Services Agreement with PFM Financial Advisors, LLC and PFM Swap Advisory Services, LLC
Exhibit C: Engagement Letter with PFM Financial Advisors, LLC for Guaranteed Investment Contract Services
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369617.2
Administering Agency: Pioneer Community Energy
Contract No. _____________
Contract Description: Legal Services relating to Clean Energy Prepayment Transaction

CONSULTANT SERVICES AGREEMENT
THIS AGREEMENT is made at Rocklin, California, as of April 16, 2026 (the “Effective Date”), by and between Pioneer Community Energy, (““Pioneer”“), and Chapman and Cutler LLP (“Consultant”), who agree as follows:

1. Services. Subject to the terms and conditions set forth in this Agreement, Consultant shall provide the services described in Exhibit A. Consultant shall provide said services at the time, place, and in the manner specified in Exhibit A. Pioneer shall have the right to request, in writing, changes in the scope of services. Any such changes mutually agreed upon by the parties, and any corresponding increase or decrease in compensation, shall be incorporated by written amendment to this Agreement. Consultant shall not be reimbursed for any expenses incurred for work performed outside the scope of services in Exhibit A unless prior written approval is given by Pioneer through a fully executed written amendment.

2. Payment. Pioneer shall pay Consultant for services rendered pursuant to this Agreement at the time and in the amount set forth in Exhibit B. The payment specified in Exhibit B shall be the only payment made to Consultant for services rendered pursuant to this Agreement. Consultant shall submit all billings for said services to Pioneer in the manner specified therein, or, if no manner be specified, then according to the usual and customary procedures which Consultant uses for billing clients similar to Pioneer. Pioneer shall not withhold applicable taxes or other payroll deductions from payments made to Consultant except as otherwise required by law. Consultant shall be solely responsible for calculating, withholding, and paying all taxes. Notwithstanding any other terms of this Agreement, no payments shall be made to Consultant until Pioneer is satisfied that the services are satisfactory. The amount of the contract shall not exceed Two Hundred Thousand Dollars ($200,000).

3. Facilities, Equipment and Other Materials, and Obligations of Pioneer. Unless otherwise specified in Exhibit C, Consultant shall, at its sole cost and expense, furnish all facilities, equipment, and other materials which may be required for furnishing services pursuant to this Agreement.

4. Consultant’s Representations. Consultant represents that it is fully qualified to perform the services described in Exhibit A by virtue of its experience and the training, education and expertise of its principals and employees. Consultant further represents that it is willing to accept responsibility for performing such services in accordance with the terms and conditions in this Agreement. Consultant shall perform in accordance with generally accepted professional practices and standards as well as the requirements of applicable federal, state and local laws, it being understood that acceptance of Consultant’s work by Pioneer shall not operate as a waiver or release.

Consultant shall indemnify and hold harmless Pioneer, its officers, agents, employees and volunteers from and against any and all claims or expenses caused or occasioned directly or indirectly by Consultant’s failure to so perform.
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5. Exhibits. All exhibits referred to herein will be attached hereto and by this reference incorporated herein. In the event of any material discrepancy between the provisions of this Agreement and its exhibits, the provisions of this Agreement shall prevail.

6. Time for Performance. Time is of the essence. Failure of Consultant to perform any services within the time limits set forth in Exhibit A shall constitute material breach of this contract.

7. ’Licenses, Permits, Etc. Consultant represents and warrants to Pioneer that it has all licenses, permits, qualifications, and approvals of whatsoever nature, which are legally required for Consultant to practice its profession. Consultant represents and warrants to Pioneer that Consultant shall, at its sole cost and expense, keep in effect or obtain at all times during the term of this Agreement, any licenses, permits, and approvals which are legally required for Consultant to practice its profession at the time the services are performed.

8. Time. Consultant shall devote such time to the performance of services pursuant to this Agreement as may be reasonably necessary for the satisfactory performance of Consultant’s obligations pursuant to this Agreement. Neither party shall be considered in default of this Agreement to the extent performance is prevented or delayed by any cause, present or future, which is beyond the reasonable control of the party.

9. Hold Harmless and Indemnification Agreement. At all times during the performance of this agreement, Consultant agrees to protect, defend, and indemnify Pioneer in accordance with the provisions contained in Exhibit D.

10. Insurance. Consultant shall file with Pioneer concurrently herewith a Certificate of Insurance, in companies acceptable to Pioneer, with a Best’s Rating of no less than A-:VII, for the coverage shown in Exhibit D. All costs of complying with these insurance requirements shall be included in Consultant’s fee(s). These costs shall not be a “reimbursable” expense under any circumstances.

11. Relationship of Parties.

A. Consultant is, and shall at all times remain as to Pioneer, a wholly independent contractor.

Pioneer shall have the right to control Consultant only insofar as the results of Consultant’s services rendered pursuant to this Agreement. Pioneer shall not have the right to control the means by which Consultant accomplishes services rendered pursuant to this Agreement.

B. Except as Pioneer may specify in writing, Consultant shall have no authority, express or implied, to act on behalf of Pioneer in any capacity whatsoever as an agent. Consultant shall have no authority, express or implied pursuant to this Agreement to incur any debt, obligation, or liability on behalf of Pioneer or to otherwise bind Pioneer to any obligation whatsoever.

Consultant, its officers, employees and agents shall not represent to any person or party that it or they are acting as agents of Pioneer or that it or they have the power to bind or commit Pioneer.

C. Neither Pioneer nor any of its agents shall have control over the conduct of Consultant or any of Consultant’s employees, except as set forth in this Agreement. Consultant shall not represent that it is, or that any of its agents or employees are, in any manner employees of Pioneer.

12. Assignment Prohibited. Consultant may assign its rights and obligations under this Agreement only upon the prior written approval of Pioneer, said approval to be in the sole discretion of Pioneer. Except as otherwise provided herein, Consultant shall not subcontract any services to be performed without amending this Agreement. Consultant shall be responsible to Pioneer for all services to be performed under this Agreement.
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13. Personnel.

A. Consultant shall assign only competent personnel to perform services pursuant to this Agreement. In the event that Pioneer, in its sole discretion, at any time during the term of this Agreement, desires the removal of any person or persons assigned by Consultant to perform services pursuant to this Agreement, including those members of the Project Team as explained below, Consultant shall remove any such person immediately upon receiving notice from Pioneer of the desire of Pioneer for removal of such person or persons.

B. Notwithstanding the foregoing, if specific persons are designated as the “Project Team” in Exhibit A, Consultant agrees to perform the work under this Agreement with those individuals identified. Reassignment or substitution of individuals or subcontractors named in the Project Team by Consultant without the prior written consent of Pioneer shall be grounds for termination of the Agreement by Pioneer, and payment shall be made pursuant to Section 17 (Termination) of this Agreement only for that work performed by Project Team members.

C. Pioneer shall pay Consultant for work performed by its subconsultants, if any, only as set forth in Exhibit B. Consultant shall be liable and accountable for any and all payments, compensation, and federal and state taxes to all subconsultants performing services under this Agreement. Pioneer shall not be liable for any payment, compensation, or federal and state taxes for any subconsultants.

14. Notification of Organizational Changes. Consultant shall notify Pioneer, in writing, of any change in name, ownership or control of Consultant’s firm or of any subconsultant. Change of ownership or control of Consultant’s firm may require an amendment to this Agreement.

15. Standard of Performance. Consultant shall perform all services required pursuant to this Agreement in the manner and according to the standards observed by a competent practitioner of the profession in which Consultant is engaged in the geographical area in which Consultant practices its profession. All products of whatsoever nature which Consultant delivers to Pioneer pursuant to this Agreement shall be prepared in a substantial first class and workmanlike manner and conform to the standards or quality normally observed by a person practicing in Consultant’s profession. Consultant shall keep itself fully informed of and in compliance with all local, state, and federal laws, rules, and regulations in any manner affecting the performance of this Agreement, including all Cal/OSHA requirements, the conflict-of-interest provisions of California Government Code section 1090, and the Political Reform Act (Government Code § 81000 et seq.).

16. Prevailing Wages. Consultant is aware of the requirements of California Labor Code section 1720, et seq., and 1770, et seq., as well as California Code of Regulations, Title 8, section 16000, et seq., (“Prevailing Wage Laws”), which require the payment of prevailing wage rates and the performance of other requirements on certain “public works” and “maintenance” projects including, but not limited to, the design and preconstruction phases of a covered public works project. This Agreement is subject to the Prevailing Wage Laws for all work performed under this Agreement for which the payment of prevailing wages is required under state law. In particular, Consultant acknowledges that prevailing wage determinations are available for work performed under this Agreement. Consultant shall defend, indemnify, and hold Pioneer, its elected officials, officers, employees, and agents free and harmless from any claim or liability arising out of any failure or alleged failure of Consultant to comply with the Prevailing Wage Laws. - 4 - Approved for use: 1/1/2025
369617.2

17. Termination.

A. Pioneer shall have the right to terminate this Agreement at any time by giving notice in writing of such termination to Consultant. In the event Pioneer shall give notice of termination, Consultant shall immediately cease rendering service upon receipt of such written notice, pursuant to this Agreement. In the event Pioneer shall terminate this Agreement:
1) Consultant shall deliver copies of all writings prepared by it pursuant to this Agreement. The term “writings” shall be construed to mean and include: handwriting, typewriting, printing, Photostatting, photographing, digital original and copies, and every other means of recording upon any tangible thing any form of communication or representation, including letters, words, pictures, sounds, or symbols, or combinations thereof.
2) Pioneer shall have full ownership and control of all such writings delivered by Consultant pursuant to this Agreement.
3) Pioneer shall pay Consultant the reasonable value of services rendered by Consultant to the date of termination pursuant to this Agreement not to exceed the amount documented by Consultant and approved by Pioneer as work accomplished to date; provided, however, that in no event shall any payment hereunder exceed the amount of the Agreement specified in Exhibit B, and further provided, however, Pioneer shall not in any manner be liable for lost profits which might have been made by Consultant had Consultant completed the services required by this Agreement. In this regard, Consultant shall furnish to Pioneer such financial information as in the judgment of Pioneer is necessary to determine the reasonable value of the services rendered by Consultant. Pioneer shall have the benefit of such work as may have been completed up to the time of such termination. The foregoing is cumulative and does not affect any right or remedy, which Pioneer may have in law or equity. 4) Notwithstanding the foregoing, should Consultant fail to perform any of its obligations hereunder within the time and in the manner provided or otherwise violate any of the terms of this Agreement, Consultant shall be compensated as above, provided there shall be deducted from such amount the amount of damage if any, sustained by Pioneer by virtue of Consultant’s breach of this Agreement.

Pioneer shall have the benefit of such work as may have been completed up to the time of such termination

18. Contract Term. This Agreement shall remain in place until the Scope of Services described in Exhibit A is completed, or until terminated pursuant to Section 17 of this Agreement.

19. Non-Discrimination. Consultant shall not discriminate against any employee or applicant for employment because of race, sex (including pregnancy, childbirth, or related medical condition), creed, national origin, color, disability as defined by law, disabled veteran status, Vietnam veteran status, religion, age (40 and above), medical condition (cancer-related), marital status, ancestry, sexual orientation, or any other unlawful basis. Employment actions to which this provision applies shall include, but not be limited to, the following: employment, upgrading, demotion, or transfer; recruitment or recruitment advertising; layoff or termination; rates of pay or other forms of compensation; or in terms, conditions or privileges of employment, and selection for training. - 5 - Approved for use: 1/1/2025
369617.2
Consultant agrees to post in conspicuous places, available to employees and applicants for employment, the provisions of this nondiscrimination clause.

Notwithstanding any other terms of this agreement, no payments shall be made to Consultant until Pioneer is satisfied that work of such value has been rendered pursuant to this agreement. However, Pioneer shall not unreasonably withhold payment and, if a dispute exists, the withheld payment shall be proportional only to the item in dispute. In addition, pursuant to Government Code Section 8546.7, if the amount of public funds expended under this Agreement exceeds ten thousand dollars, all such documents and this Agreement shall be subject to the examination and audit of the State Auditor, at the request of Pioneer or as part of any audit of Pioneer, for a period of three (3) years after final payment under this Agreement.

21. Ownership of Information. All professional and technical information developed under this Agreement and all work sheets, reports, and related data shall become the property of Pioneer, and Consultant agrees to deliver reproducible copies of such documents to Pioneer on completion of the services hereunder. No such written products shall be the subject of a copyright application by Consultant.

22. Waiver. No provision, covenant, or condition of this Agreement shall be deemed to have been waived by Pioneer or Consultant unless in writing signed by one authorized to bind the party asserted to have consented to the waiver. One or more waivers by one party of any major or minor breach or default of any provision, term, condition, or covenant of this Agreement shall not operate as a waiver of any subsequent breach or default by the other party.

23. Conflict of Interest. Consultant represents that it has no known relationships with third parties, Pioneer Board members, or employees of Pioneer which would (1) present a conflict of interest with the rendering of services under this Agreement under California Government Code section 1090, the Political Reform Act (Government Code section 81000 et seq.), or other applicable law, (2) prevent Consultant from performing the terms of this Agreement, or (3) present a significant opportunity for the disclosure of confidential information. Consultant certifies that no official or employee of Pioneer, nor any business entity in which an official of Pioneer has an interest, has been employed or retained to solicit or aid in the procuring of this Agreement. In addition, Consultant agrees that no such person will be employed in the performance of this Agreement without immediately notifying Pioneer.

24. Campaign Contributions. This Agreement is subject to Government Code section 84308, as amended by Senate Bill 1439 (2022), Senate Bill 1181 (2024), and Senate Bill 1243 (2024).

Consultant shall disclose any contribution to an elected or appointed Pioneer official’s campaign or committee in an amount of more than five hundred dollars ($500) made within 12 months preceding the Commencement Date, by Consultant, its, her, or his agent, or another party affiliated with Consultant. Consultant shall provide a signed copy of the attached Campaign Contribution Disclosure Form, Exhibit E, to Pioneer prior to, or concurrent with, Consultant's execution of this Agreement and no later than the Commencement Date.

25. Entirety of Agreement. This Agreement contains the entire agreement of Pioneer and Consultant with respect to the subject matter hereof, and no other agreement, statement, or promise made by any party, or to any employee, officer or agent of any party, which is not contained in this Agreement, shall be binding or valid.
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26. Alteration. No waiver, alteration, modification, or termination of this Agreement shall be valid unless made in writing and signed by all parties, except as expressly provided in Section 19, Termination.

27. Governing Law & Venue. This Agreement is executed and intended to be performed in the State of California, and the laws of that State shall govern its interpretation and effect. Any legal proceedings on this Agreement shall be brought under the jurisdiction of the Superior Court of County of Placer, State of California, and Consultant hereby expressly waives those provisions in California Code of Civil Procedure §394 that may have allowed it to transfer venue to another jurisdiction.

28. Attorneys’ Fees. If legal action shall be necessary to enforce any term, covenant or condition contained in this Agreement, each party shall pay its own costs, including any accountants’ and attorneys’ fees expended in the action.

29. Notification. Any notice or demand desired or required to be given hereunder shall be in writing and deemed given when personally delivered or deposited in the mail, postage prepaid, and addressed to the parties as follows:

PIONEER COMMUNITY ENERGY: CONSULTANT:

Pioneer Community Energy Chapman and Cutler LLP
Attn: Eric Acedo Attn: Douglas Bird, Partner
2510 Warren Drive Suite B 1270 Avenue of the Americas
Rocklin, CA 95677 New York, NY 10020
[email protected] [email protected] Phone: (916) 758-8943 Phone: (212) 655-2519
Any notice so delivered personally shall be deemed to be received on the date of delivery, and any notice mailed shall be deemed to be received five (5) days after the date on which it was mailed.

30. Multiple Phase Projects. Pursuant to Government Code section 1097.6, Consultant’s duties and services under this Agreement shall not include preparing or assisting Pioneer with any portion of the Pioneer’s preparation of a request for proposals, request for qualifications, or any other solicitation regarding a subsequent or additional contract with Pioneer. Pioneer shall at all times retain responsibility for public contracting, including with respect to any subsequent phase of this project. Consultant’s participation in the planning, discussions, or drawing of project plans or specifications, if any, shall be limited to conceptual, preliminary, or initial plans or specifications.

Consultant shall cooperate with the Pioneer to ensure that all bidders for a subsequent contract on any subsequent phase of this project have access to the same information, including all conceptual, preliminary, or initial plans or specifications prepared by Consultant, if any, pursuant to this Agreement.

31. Remedies Non-Exclusive. Each right, power and remedy provided for herein or now or hereafter existing at law, in equity, by statute, or otherwise shall be cumulative and shall be in addition to every other right, power, or remedy provided for herein or now or hereafter existing at law, in equity, by statute, or otherwise. The exercise, the commencement of the exercise, or the forbearance from the exercise by any party of any one or more of such rights, powers or remedies shall not preclude the simultaneous or later exercise by such party of any or all of such other rights, powers or remedies.
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32. Confidentiality. All data, documents, discussion, or other information developed or received by Consultant for performance of this Agreement are deemed confidential and Consultant shall not disclose it without prior written consent by Pioneer. Pioneer shall grant such consent if disclosure is legally required. All Pioneer data shall be returned to Pioneer upon the termination or expiration of this Agreement.

33. Successors & Third-Party Beneficiaries. This Agreement shall be binding on the successors and assigns of the parties. Except as expressly stated herein, there is no intended third-party beneficiary of any right or obligation assumed by the parties.

34. Severability. If any term or provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, then such term or provision shall be amended to, and solely to the extent necessary to, cure such invalidity or unenforceability, and shall be enforceable in its amended form. In such event, the remainder of this Agreement, or the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected, and each term and provision of this Agreement shall be valid and be enforced to the fullest extent permitted by law.

35. No Presumption Against Drafter. Each party had an opportunity to consult with an attorney in reviewing and drafting this agreement. Any uncertainty or ambiguity shall not be construed for or against any party based on attribution of drafting.

36. Counterparts; Electronic Signatures. This Agreement may be signed in one or more counterparts, each of which shall be deemed an original, but all of which together shall be deemed one and the same instrument. The parties acknowledge and agree that this Agreement may be executed by electronic signature, which shall be considered as an original signature for all purposes and shall have the same force and effect as an original signature. Without limitation, “electronic signature” shall include faxed or emailed versions of an original signature, electronically scanned and transmitted versions (e.g., via pdf) of an original signature, or a digital signature. - 5 - 369617.3
Executed as of the day first above stated:

PIONEER COMMUNITY ENERGY
By: _____________________________
Printed Name/Title:

Approved as to Form – General Counsel:

By: _____________________________
Printed Name/Title:

CHAPMAN AND CUTLER LLP
By: _____________________________
Name: Douglas Bird
Title: Partner
Exhibits
A. Scope of Services
B. Payment for Services Rendered
C. Facilities, Equipment and Other Obligations of Pioneer D. Hold Harmless Agreement and Insurance Requirements
E. Campaign Contribution Disclosure Form

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EXHIBIT A

SCOPE OF SERVICES
Assumptions
Consultant will perform legal services on behalf of Pioneer related to a proposed clean energy prepayment transaction (the “Prepayment Transaction”). The scope of work assumes that (i) the issuer of the bonds used to finance the Prepayment Transaction will be California Community Choice Financing Authority (“CCCFA”), (ii) the principal documents for the prepaid energy transaction and any related swaps will be drafted by counsel for the prepaid energy supplier, including proposed forms of assignment agreements for the underlying power purchase agreements (“PPAs”) to be assigned to the prepaid supplier, and (iii) the Trust Indenture for the bonds will be drafted by bond counsel to CCCFA.

Scope of Services
Consultant will review and comment on all documents on behalf of Pioneer in connection with the proposed clean energy prepayment transaction (the “Prepayment Transaction”). Consultant will coordinate with Pioneer, its other counsel and counsel to the prepaid energy supplier regarding the assignment of PPA’s in connection with the Prepayment Transaction. Consultant will prepare such resolutions and other materials as may be required for the necessary approvals by Pioneer’s Board, and will serve as Disclosure Counsel to Pioneer, working together with Pioneer to prepare the descriptive, operating and financial information regrading Pioneer to be included in the Preliminary Official Statement and Official Statement for the bonds and providing advice regarding Pioneer’s continuing disclosure obligations relating to such information.

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EXHIBIT B

PAYMENT FOR SERVICES RENDERED
Maximum Limit & Fee Schedule
For the Scope of Services described in Exhibit A, Consultant will charge a fixed fee of $200,000, contingent upon a successful bond closing and payable from bond proceeds at closing, which will encompass all work related to the transaction described in the Scope of Services (including reviewing and commenting on the “forepart” of the Preliminary Official Statement and Official Statement).

Expenses
Consultant will not charge separately for expenses relating to legal research, faxing, copying and routine document processing. Consultant will however pass-through any extraordinary expenses (e.g., travel expenses) approved by Pioneer and any fees and charges of third parties relating to necessary filings and the like.

Invoices
Consultant will prepare an invoice for the applicable fixed fee and submit such invoice to Pioneer at closing of the bond issue at the address below, payable solely from bond proceeds.

Submit all invoices to: Pioneer Community Energy
Attn: Eric Acedo
[email protected]
2510 Warren Drive, Suite B
Rocklin, CA 95677

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EXHIBIT C

FACILITIES, EQUIPMENT, AND OTHER

MATERIALS, AND OBLIGATIONS OF PIONEER
(Specify all equipment and facilities to be provided or made available by Pioneer, and any other Pioneer obligations.)

NOT APPLICABLE

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EXHIBIT D

HOLD HARMLESS AGREEMENT

AND INSURANCE REQUIREMENTS

1. HOLD HARMLESS AND INDEMNIFICATION AGREEMENT
A. To the fullest extent permitted by law, CONSULTANT hereby agrees to protect, defend, indemnify, and hold PIONEER free and harmless from any and all losses, claims, liens, demands, and causes of action of every kind and character including, but not limited to, the amounts of judgments, penalties, interest, court costs, legal fees, reasonable attorneys’ fees for counsel of Pioneer’s choice, expert fees, and all other expenses incurred by PIONEER arising in favor of any party, including claims, liens, debts, personal injuries, death, or damages to any real or personal property (including employees or property of PIONEER) and without limitation by enumeration, all other claims or demands of every character occurring or in any way incident to, in connection with or arising directly or indirectly out of, the Agreement, CONSULTANT’s performance under this Agreement, or CONSULTANT’S failure to comply with any provision in this Agreement. CONSULTANT agrees to investigate, handle, respond to, provide defense for, and defend any such claims, demand, or suit at the sole expense of the CONSULTANT. CONSULTANT also agrees to bear all other costs and expenses related thereto, even if the claim or claims alleged are groundless, false, or fraudulent. This provision is not intended to create any cause of action in favor of any third party against CONSULTANT or PIONEER or to enlarge in any way the CONSULTANT’s liability but is intended solely to provide for indemnification of PIONEER from liability for damages or injuries to third persons or property arising from CONSULTANT’s performance pursuant to this Agreement. PIONEER’s right to indemnity under this Agreement shall arise immediately upon the occurrence of the event giving rise to the indemnified liability.

PIONEER shall be entitled to a defense under this Agreement immediately upon the institution of a claim or action that is covered by this indemnity, even though liability for said claim or action has not yet been determined at the time the duty to defend the PIONEER hereunder has arisen. CONSULTANT shall not be entitled to any refund of attorneys’ fees, defense costs or expenses in the event that it is adjudicated to have been non-negligent. CONSULTANT shall not be required to indemnify PIONEER for such loss or damage as is caused by the active negligence, sole negligence, or willful misconduct of PIONEER; provided, however, that the foregoing shall not be construed to apply to any claims arising out of the professional negligence or malpractice of CONSULTANT as legal counsel providing the services described in this Agreement.

B. As used in this section, the term PIONEER means Pioneer or its officers, agents, employees, and volunteers.The term CONSULTANT means Consultant, its officers, employees, servants, agents, or subconsultants, or anyone directly or indirectly employed by either Consultant or its subconsultants, in the performance of this Agreement.

C. The obligations of CONSULTANT set forth herein are not limited by the provisions of any workers’ compensation or similar statute. CONSULTANT expressly waives its statutory immunity under such statutes or laws as to PIONEER.

D. PIONEER does not waive any indemnity rights by accepting any insurance policy or certificate required pursuant to this Agreement. CONSULTANT’s indemnification obligations apply regardless of whether or not any insurance policies are determined to be applicable to the claim, demand, damage, liability, loss, cost or expense.

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E. PIONEER may request a deposit for defense costs from CONSULTANT with respect to a claim. If PIONEER requests a defense deposit, CONSULTANT shall provide it within 15 days of the request.

F. CONSULTANT agrees to obtain executed indemnity agreements with provisions identical to those set forth here from each and every subconsultant or any other person or entity involved in the performance of this Agreement on CONSULTANT’s behalf.

2. INSURANCE:

CONSULTANT shall file with PIONEER concurrently herewith a Certificate of Insurance, in companies acceptable to PIONEER, with a Best’s Rating of no less than A-:VII showing, and complete, certified copies of all required insurance policies, including endorsements affecting the coverage for all policies required by this Agreement. CONSULTANT shall require all of its subcontractors, subconsultants, and other agents to do the same. Approval of the insurance by PIONEER shall not relieve or decrease any liability of CONSULTANT.

3. WORKER’S COMPENSATION AND EMPLOYERS LIABILITY INSURANCE:

Worker’s Compensation Insurance shall be provided as required by any applicable law or regulation.

Employer’s liability insurance shall be provided in amounts not less than one million dollars ($1,000,000) each accident for bodily injury by accident, one million dollars ($1,000,000) policy limit for bodily injury by disease, and one million dollars ($1,000,000) each employee for bodily injury by disease.

If there is an exposure of injury to CONSULTANT’s employees under the U.S. Longshoremen’s and Harbor Worker’s Compensation Act, the Jones Act, or under laws, regulations, or statutes applicable to maritime employees, coverage shall be included for such injuries or claims.

Each Worker’s Compensation policy shall be endorsed with the following specific language:
• Cancellation Notice - “This policy shall not be changed without first giving thirty (30) days prior written notice and ten (10) days prior written notice of cancellation for non-payment of premium to Pioneer Community Energy”.
• Waiver of Subrogation - The workers’ compensation policy shall be endorsed to state that the workers’ compensation carrier waives its right of subrogation against Pioneer, its officers, directors, officials, employees, agents or volunteers, which might arise by reason of payment under such policy in connection with performance under this agreement by the CONSULTANT.
• CONSULTANT shall require all SUBCONTRACTORS to maintain adequate Workers’ Compensation insurance. Certificates of Workers’ Compensation shall be filed forthwith with Pioneer upon demand.

4. GENERAL LIABILITY INSURANCE:

A. Comprehensive General Liability or Commercial General Liability insurance covering all operations by or on behalf of CONSULTANT, providing insurance for bodily injury liability and property damage liability for the limits of liability indicated below and including coverage for:

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(1) Contractual liability insuring the obligations assumed by CONSULTANT in this Agreement.

B. Commercial General Liability Insurance shall be no less broad than ISO form CG 00 01.

Coverage must be on a standard Occurrence form. One of the following forms is required:
(1) Comprehensive General Liability; or
(2) Commercial General Liability (Occurrence).

C. If CONSULTANT carries a Comprehensive General Liability policy, the limits of liability shall not be less than a Combined Single Limit for bodily injury, property damage, and Personal Injury Liability of:
→ Two million dollars ($2,000,000) each occurrence
→ Four million dollars ($4,000,000) aggregate
D. If CONSULTANT carries a Commercial General Liability (Occurrence) policy:
(1) The limits of liability shall not be less than:
→Two million dollars ($2,000,000) each occurrence (combined single limit for bodily injury and property damage)
→Two million dollars ($2,000,000) for Products-Completed Operations →Four million dollars ($4,000,000) General Aggregate
(2) If the policy does not have an endorsement providing that the General Aggregate Limit applies separately, or if defense costs are included in the aggregate limits, then the required aggregate limits shall be two million dollars ($2,000,000).

E. Special Claims Made Policy Form Provisions:

Coverage must be on a standard Occurrence form. Claims-Made, modified, limited or restricted Occurrence forms are not acceptable. If any of the required policies provide coverage on a claims-made basis the Retroactive Date must be shown and must be before the Effective Date of the Agreement or the beginning of work. Claims-Made Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after completion of the contract of work. If coverage is canceled or non-renewed, and not replaced with another claims-made policy form with a Retroactive Date prior to the contract effective date, CONSULTANT must purchase “extended reporting” coverage for a minimum of five (5) years after completion of contract work Conformity of Coverages - If more than one policy is used to meet the required coverages, such as a separate umbrella policy, such policies shall be consistent with all other applicable policies used to meet these minimum requirements. In no cases shall the types of polices be different.

5. ENDORSEMENTS:

Each policy required herein, other than Professional Errors and Omissions and Worker’s Compensation, shall be endorsed with the following specific language:

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A. “Pioneer Community Energy, its officers, agents, employees, and volunteers are to be covered as insured for all liability arising out of the operations by or on behalf of the named insured in the performance of this Agreement.”
B. “The insurance provided by the Consultant, including any excess liability or umbrella form coverage, is primary coverage to Pioneer Community Energy with respect to any insurance or self-insurance programs maintained by Pioneer Community Energy and no insurance held or owned by Pioneer Community Energy shall be called upon to contribute to a loss.” C. “This policy shall not be changed without first giving thirty (30) days prior written notice and ten (10) days prior written notice of cancellation for non-payment of premium to Pioneer Community Energy.”
All endorsements shall be signed by a person authorized by the insurer to bind coverage on its behalf.

6. AUTOMOBILE LIABILITY INSURANCE:

Automobile Liability insurance covering bodily injury and property damage in an amount no less than two million dollars ($2,000,000) combined single limit for each occurrence.

Covered vehicles shall include owned, non-owned, and hired automobiles/trucks using ISO Business Auto Coverage form CA 00 01 (or equivalent).

7. PROFESSIONAL LIABILITY INSURANCE:

Professional liability insurance which includes coverage for the professional acts, errors and omissions of Consultant in the amount of at least $1,000,000 per occurrence and $2,000,000 aggregate.

The deductible or self-insured retention may not exceed $50,000. If the insurance is on a Claims-Made basis, the retroactive date shall be no later than the Effective Date of the Agreement or commencement of the work. Coverage shall be continued for two years after the completion of the work by one of the following: (1) renewal of the existing policy; (2) an extended reporting period endorsement; or (3) replacement insurance with a retroactive date no later than the commencement of the work under this Agreement. In the event CONSULTANT’s policy is a “claims made” policy only covering those claims made during the policy period, then CONSULTANT agrees to maintain the professional liability insurance required hereunder and with respect to this project in effect for at least three (3) years after acceptance of the work.

8. PRIVACY AND CYBERSECURITY LIABILITY INSURANCE:

Privacy and cybersecurity liability (including costs arising from data destruction, hacking or intentional breaches, crisis management activity related to data breaches, and legal claims for security breach, privacy violations, and notification costs of at least $5,000,000 US per occurrence.

9. ADDITIONAL REQUIREMENTS:

Premium Payments - The insurance companies shall have no recourse against PIONEER and funding agencies, its officers and employees or any of them for payment of any premiums or assessments under any policy issued by a mutual insurance company.

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Policy Deductibles - The CONSULTANT shall be responsible for all deductibles in all of the CONSULTANT’s insurance policies. The maximum amount of allowable deductible for insurance coverage required herein shall be $25,000.

CONSULTANT’s Obligations - CONSULTANT’s indemnity and other obligations shall not be limited by the foregoing insurance requirements and shall survive the expiration of this Agreement.

Verification of Coverage - CONSULTANT shall furnish Pioneer with original certificates and amendatory endorsements or copies of the applicable policy language effecting coverage required by this clause. All certificates and endorsements are to be received and approved by Pioneer before work commences. However, failure to obtain the required documents prior to the work beginning shall not waive the CONSULTANT’s obligation to provide them. Pioneer reserves the right to require complete, certified copies of all required insurance policies, including endorsements required by these specifications, at any time.

Material Breach - Failure of the CONSULTANT to maintain the insurance required by this agreement, or to comply with any of the requirements of this section, shall constitute a material breach of the entire Agreement. In the event any policy is canceled prior to the completion of the Agreement and CONSULTANT does not furnish a new certificate of insurance prior to cancellation, PIONEER has the right, but not the duty, to obtain the required insurance and deduct the premium(s) from any amounts due CONSULTANT under this Agreement.

Subrogation – CONSULTANT hereby waives all rights of subrogation against PIONEER.

CONSULTANT shall additionally waive such rights either by endorsement to each policy or provide proof of such waiver in the policy itself.

Report of Claims – CONSULTANT shall report to PIONEER, in addition to CONSULTANT’s insurer, any and all insurance claims submitted to CONSULTANT’s insurer in connection with the services under this Agreement.

Premium Payments and Deductibles - CONSULTANT must disclose all deductibles and self-insured retention amounts to PIONEER. PIONEER may require Consultant to provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within retention amounts. Ultimately, PIONEER must approve all such amounts prior to execution of this Agreement.

PIONEER has no obligation to pay any premiums, assessments, or deductibles under any policy required in this Agreement. CONSULTANT shall be responsible for all premiums and deductibles in all of CONSULTANT’s insurance policies. The amount of deductibles for insurance coverage required herein are subject to PIONEER’s approval.

Duty to Defend and Indemnify – CONSULTANT’s duties to defend and indemnify PIONEER under this Agreement shall not be limited by the foregoing insurance requirements and shall survive the expiration or termination of this Agreement.

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369617.3

EXHIBIT E

CAMPAIGN CONTRIBUTION DISCLOSURE FORM
Local governments are subject to the campaign disclosure provisions detailed in Government Code Section 84308.

Please carefully read the following information to
determine if the provisions apply to you. If you
determine that the provisions are applicable, the
Campaign Disclosure Form must be completed and
returnedtoPioneerwithyourapplication.

No Pioneer Board member or other Pioneer official shall accept, solicit, or direct a campaign contribution of more than $500 from any party1 financial interested
participant,2 or agent3 for 12 months after the Pioneer approves a contract. This prohibition commences when
an application is filed, or a proceeding is otherwise
initiated.

A party to a Pioneer proceeding shall disclose on the record of the proceeding any campaign contribution of more than $500 by a party or agent to any Pioneer member or other Pioneer official during the preceding 12 months. No party to or participant in a Pioneer proceeding, shall make a
contribution of more than $500 to a Pioneer Board member or other Pioneer official during a proceeding and for 12 months after the Pioneer approves a contract. No agent to a party or participant shall make a contribution in any amount to a Pioneer board member or other Pioneer official during the preceding 12 months following the date a final
decision is rendered by Pioneer.

A Pioneer Board member or other Pioneer official who
received a campaign contribution ofmore than $500within the preceding 12 months from any party, or agent, to a
proceeding shall disclose that fact on the record of the proceeding, and shall abstain from participating in the proceeding. However, if he or she receives a contribution that otherwise would require disqualification, and returns the contribution within 30 days of making the decision, or
knowing about the contribution and the relevant proceeding, whichever comes last, , he or she may participate in the proceeding.
1 “Party” is defined as any person who files an
application for, or is the subject of, a proceeding.
2 “Participant” is defined as any person who actively supports or opposes a particular decision in a proceeding.
3 “Agent” is defined as a person who represents a party in connection with a proceeding. If an individual acting as an agent also is acting as an employee or member of
a law, architectural, engineering, or consulting firm, or a similar entity or corporation, both the individual and the entity or corporation are agents. When a closed
To determine whether you or your agent made a campaign
contribution of more than $500 to a Pioneer Board member or other Pioneer official within the preceding 12 months, you must aggregate all such contributions.

Names of current Pioneer Board members and other Pioneer officials are available on Pioneer’s website.If you have questions about GovernmentCode Section 84308, FPPCregulations, or theCampaignDisclosure Form, please contactthe Pioneer Clerk.

CAMPAIGN CONTRIBUTION DISCLOSURE FORM
(a) Document:
□ License
□ Lease
□ Permit
□ Franchise
□ Other Contract
□ Other Entitlement
Name and address of any party, participant, or agent, who has contributed more than $500 to any Pioneer Board
Member or other Pioneer official within the preceding 12 months:

1. ____________________________________

2. ____________________________________

3. ____________________________________
(b) Date and amount of contribution:

Date Amount $
Date Amount $
(c) Name of Pioneer Board member or other Pioneer
official to whom contribution was made:

1. ____________________________________

2. ____________________________________

3. ____________________________________
(d) □ Check here If no contributions have been made to
any Board member or other Pioneer official in the
preceding 12 months.
(e) I certify that the above information is provided to the best of my knowledge.

Printed Name
Signature

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369617.3
corporation is a party to a proceeding, the majority
shareholder is subject to these provisions. Date Phone
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369617.2
Administering Agency: Pioneer Community Energy
Contract No. _____________
Contract Description: ___________________________

CONSULTANT SERVICES AGREEMENT
THIS AGREEMENT is made at Rocklin, California, as of April 16, 2026 (the “Effective Date”), by and between Pioneer Community Energy, (“Pioneer”), and PFM Financial Advisors LLC (“PFMFA”), together with its affiliate, PFM Swap Advisors LLC (“PFMSA).

PFMFA and PFMSA shall both be bound to the terms and conditions of this Agreement; provided, however, that each will provide its services pursuant to a separate scope of work (“Scope of Work”), included in Exhibit “A” to this Agreement. Collectively, PFMFA and PFMSA shall be referred to throughout this Agreement as “Consultant”.

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369617.2
volunteers from and against any and all negligent or intentional wrongful claims or expenses caused or occasioned directly or indirectly by Consultant’s failure to so perform.

6. Time for Performance. Time is of the essence. Failure of Consultant to perform any services within the time limits set forth in Exhibit A shall constitute material breach of this contract.

11. Relationship of Parties.

A. Consultant is, and shall at all times remain as to Pioneer, a wholly independent contractor.

Consultant, its officers, employees and agents shall not represent to any person or party that it or they are acting as agents of Pioneer or that it or they have the power to bind or commit Pioneer.

12. Assignment Prohibited. Consultant may assign its rights and obligations under this Agreement only upon the prior written approval of Pioneer, said approval to be in the sole discretion of - 3 - Approved for use: 1/1/2025
369617.2
Pioneer. Except as otherwise provided herein, Consultant shall not subcontract any services to be performed without amending this Agreement. Consultant shall be responsible to Pioneer for all services to be performed under this Agreement.

13. Personnel.

15. Standard of Performance. Consultant shall perform all services required pursuant to this Agreement in the manner and according to the standards observed by a competent practitioner of the profession in which Consultant is engaged.. All services which Consultant delivers to Pioneer pursuant to this Agreement shall be conducted in a workmanlike manner and conform to the standards or quality normally observed by a person practicing in Consultant’s profession.

Consultant shall keep itself fully informed of and in compliance with all local, state, and federal laws, rules, and regulations in any manner affecting the performance of this Agreement, including all Cal/OSHA requirements, the conflict-of-interest provisions of California Government Code section 1090, and the Political Reform Act (Government Code § 81000 et seq.).

17. Termination.

B. Consultant may terminate its services under this Agreement upon thirty (30) working days’ advance written notice to Pioneer. In the event of such termination, Consultant shall deliver copies of all writings prepared under this Agreement to Pioneer and shall be entitled to compensation as set forth above. Pioneer shall have the benefit of such work as may have been completed up to the time of such termination

18. Contract Term. This Agreement shall remain in place until the Scope of Services described in Exhibit A is completed, or until terminated pursuant to Section 17 of this Agreement.

20. Records. Consultant shall maintain, at all times, complete detailed records with regard to work performed under this Agreement in a form acceptable to Pioneer for a minimum of three (3) years, or for any longer period required by law, from the date of final payment to Consultant under this Agreement, and Pioneer shall have the right to inspect such records at any reasonable time upon advanced notice to Consultant. Notwithstanding any other terms of this agreement, no payments shall be made to Consultant until Pioneer is satisfied that work of such value has been rendered pursuant to this agreement. However, Pioneer shall not unreasonably withhold payment and, if a dispute exists, the withheld payment shall be proportional only to the item in dispute. In addition, pursuant to Government Code Section 8546.7, if the amount of public funds expended under this Agreement exceeds ten thousand dollars, all such documents and this Agreement shall be subject to the examination and audit of the State Auditor, at the request of Pioneer or as part of any audit of Pioneer, for a period of three (3) years after final payment under this Agreement.

24. Campaign Contributions. This Agreement is subject to Government Code section 84308, as amended by Senate Bill 1439 (2022), Senate Bill 1181 (2024), and Senate Bill 1243 (2024).

PIONEER COMMUNITY ENERGY: CONSULTANT:

Pioneer Community Energy PFM Financial Advisors LLC
Attn: Eric Acedo Attn: Michael Berwanger
2510 Warren Drive Suite B 222 N. Pacific Coast Hwy. 10th FL Rocklin, CA 95677 El Segundo, CA 90245
[email protected] [email protected]
Phone: (916) 758-8943 Phone: (213) 489-4075
With a copy to:

PFM Swap Advisors LLC
1735 Market Street, 42nd Floor
Philadelphia, PA 19103
[email protected]
Any notice so delivered personally shall be deemed to be received on the date of delivery, and any notice mailed shall be deemed to be received five (5) days after the date on which it was mailed.

31. Remedies Non-Exclusive. Each right, power and remedy provided for herein or now or hereafter existing at law, in equity, by statute, or otherwise shall be cumulative and shall be in addition to - 7 - Approved for use: 1/1/2025
369617.2
every other right, power, or remedy provided for herein or now or hereafter existing at law, in equity, by statute, or otherwise. The exercise, the commencement of the exercise, or the forbearance from the exercise by any party of any one or more of such rights, powers or remedies shall not preclude the simultaneous or later exercise by such party of any or all of such other rights, powers or remedies.

32. Confidentiality. All data, documents, discussion, or other information developed or received by Consultant for performance of this Agreement are deemed confidential and Consultant shall not disclose it without prior written consent by Pioneer, unless disclosure is required by law or judicial or regulatory process. All Pioneer data shall be returned to Pioneer upon the termination or expiration of this Agreement.

37. Information to be Furnished to Consultant. All information, data, reports, and records in the possession of Pioneer or any third party necessary for carrying out any services to be performed under this Agreement (“Data”) shall be furnished to Consultant. Consultant may rely on the Data in connection with its provision of the services under this Agreement and the provider thereof shall remain solely responsible for the adequacy, accuracy and completeness of such Data. - 5 - 369617.3
Executed as of the day first above stated:

PIONEER COMMUNITY ENERGY
By: _____________________________
Printed Name/Title:

Approved as to Form – General Counsel:

By: _____________________________
Printed Name/Title:

PFM FINANCIAL ADVISORS LLC
By: _____________________________
Name: Michael Berwanger
Title: Managing Director

PFM SWAP ADVISORS LLC
By: _____________________________
Name: George Hu
Title: Director
Exhibits
A. Scope of Services
B. Payment for Services Rendered
C. Facilities, Equipment and Other Obligations of Pioneer D. Hold Harmless Agreement and Insurance Requirements
E. Campaign Contribution Disclosure Form

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EXHIBIT A

SCOPE OF SERVICES
Work Order #1a – PFM Financial Advisors LLC (“PFMFA”)
The below outlines the scope of services for PFMFA’s financial advisory services associated with Pioneer Community Energy for prepay-related services.

The terms and conditions of the Agreement between PIONEER, PFMFA and PFMSA are incorporated into this Scope of Services by reference.

Working with PFMSA, PFMFA will provide the following portion of the Scope of Services:

Transaction Services
• PFMFA will take the lead role acting as Project Manager throughout the prepay bond financing process.

Prepay Documentation and Planning
• Develop a financing plan in concert with Pioneer staff which would include recommendations as to the timing and number of series of bonds to be issued. • Review transaction legal documentation; provide suggestions, modifications and enhancements where appropriate and assist with the negotiation of terms with associated counterparties. • Coordinate with Pioneer staff and other advisors with respect to furnishing data for offering documents, it being specifically understood that PFM is not responsible for the inclusion or omission of any material in published offering documents. • In coordination with the deal team, develop credit rating presentation and coordinate with Pioneer on the overall presentation to rating agencies.
• Assistance with putting together the necessary disclosure related to Pioneer (separately and together, if and where relevant) in the disclosure documents. • Arrange for the closing of the transaction including, but not limited, to bond printing, signing and final delivery.

Prepay Financial Planning and Modelling
• Advise Pioneer staff on the various financing alternatives available. • Develop alternatives related to debt transaction including evaluation of maturity schedule and cash flow requirements.
• Assist Pioneer in the procurement of ancillary services relating to debt issuance such as printing, trustee, paying agent, registrar, etc.
• Analyze financial and economic factors to determine if the issuance of prepayment bonds is appropriate.
• Provide financial modeling services and data on comparable deal pricing and deal economics. • As applicable, advise Pioneer on the condition of the bond market at the time of sale, including volume, timing considerations, competing offerings, and general economic considerations. • Assist and advise Pioneer in negotiations with investment banking groups regarding fees, pricing of the bonds and final terms of any security offering; make recommendations regarding a proposed offering to obtain the most favorable financial terms based on existing market conditions.

FINANCIAL ADVISORY REQUIRED DISCLOSURES:

PFMFA is a registered municipal advisor with the Securities and Exchange Commission (the “SEC”) and the Municipal Securities Rulemaking Board (the “MSRB”), pursuant to the Securities Exchange Act of

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1934 Rule 15Ba1-2. If PIONEER has designated PFMFA as its independent registered municipal advisor (“IRMA”) for purposes of SEC Rule 15Ba1-1(d)(3)(vi) (the “IRMA exemption”), then services provided pursuant to such designation shall be the services described in this Scope of Services, subject to any agreed upon limitations. Verification of independence (as is required under the IRMA exemption) shall be the responsibility of such third party seeking to rely on such IRMA exemption. PFMFA shall have the right to review and approve in advance any representation of its role as IRMA to PIONEER.

MSRB Rules require that municipal advisors make written disclosures to their clients of all material conflicts of interest, certain legal or disciplinary events and certain regulatory requirements. Such disclosures are provided in PFMFA’s Disclosure Statement delivered to PIONEER prior to or together with this Agreement.

Team Members:

Michael Berwanger, Managing Director
James Carbone, Senior Managing Consultant
Faisal Alif, Senior Managing Consultant
Other personnel to be assigned as necessary
Work Order #1b – PFM Financial Advisors LLC (“PFMFA”)
The below outlines the scope of services for PFM’s financial advisory services associated with Pioneer Community Energy’s Rating Procurement. Such services will include:
• Advise on number and which rating agencies to approach • Outline credit guidelines which may dictate certain financial metrics, reserve and risk management strategies
• Manage the credit rating process (from inception to publication) and coordination with the rating agency
• Prepare an outline and a tentative calendar for the Rating Procurement process, adjusting the calendar as necessary during the process
• Assist with the development of a strategy and roadmap for the Rating Procurement • Initiate rating agency outreach and business negotiations related to cost and process • Assist Pioneer with formulation of policies and/or review and amend existing policies that may be critical to obtaining a rating
• Prepare a draft credit presentation and assist with assembly of presentation materials • Assist with any initial and follow-up on data requests from rating agency • Assist with the completion of forms requested by the rating agency • Set up and attend conference call with management team to develop credit presentation and discuss matters relating to the Rating Procurement process

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• Assist with information gathering and the formation of final presentation materials and submission to rating agency, scheduling of presentation; participate in actual credit presentation
To the extent not listed above, all other services customarily provided by a municipal advisor to a public agency in connection with a similar rating procurement process.

Work Order #2 - PFM Swap Advisors LLC (as Swap Advisor and QIR) Scope of Services Transaction Services
The terms and conditions of the Agreement between PIONEER, PFMFA and PFMSA are incorporated into this Scope of Services by reference.

Working with PFMFA, PFMSA will provide the following portion of the Scope of Services:
• PFMSA will serve Pioneer as Municipal Advisor and designated Qualified Independent Representative (“QIR”) in the provision of general swap advisory services related to any swap-related communication, interaction or other discussion (“Swap Communication”) between Pioneer and Swap Dealers (as such term is defined by the Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”)). PFMSA is obligated to comply with the applicable requirements of CFTC Regulation 17 CFR 23.450(b)(1) in providing QIR services to Pioneer.
• As QIR to Pioneer, PFMSA will make available qualified professionals to participate in discussions and other interactions with Swap Dealers as Pioneer finds necessary or desirable.

Additionally, PFMSA will assist Pioneer with analysis of any proposals from Swap Dealers.

PFMSA may assist Pioneer with other swap related tasks such as helping write a swap policy or other related analysis upon Pioneer’s request. PFMSA will also assist Pioneer, as needed, in completing the ISDA Dodd-Frank Protocols and other matters to comply with the regulatory requirements imposed under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
i. Analyze and model alternative hedge structures and provide price indications; ii. Review and comment on all hedge documentation and business terms; iii. Assist in counterparty selection and developing terms for a request for bids (if desired); iv. Review competitive bids and make a recommendation for award or if so determined; v. Negotiate the pricing terms and structure with the Counterparty(s); vi. Coordinate the closing of the transaction.

SWAP ADVISORY REQUIRED DISCLOSURES
PFMSA agrees that it will not deal with itself or with any other affiliated company or individual in making purchases or sales of the Swaps or any securities pursuant to this engagement, nor will it take a long or short position in securities subject to purchase or sale in connection with the Swaps. PFMSA confirms that it has no interest in the purchase or sale of the Swaps other than as described in this Scope of Services and except for any financial or investment advisory agreement between PIONEER and PFMSA affiliates, or

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PFM Financial Advisors LLC. MSRB Rules require that municipal advisors make written disclosures to its clients of all material conflicts of interest and certain legal or disciplinary events and certain regulatory requirements. Such disclosures are provided in PFMSA’s Disclosure Statement delivered to PIONEER prior to or together with the Agreement.

PFMSA is a registered municipal advisor with the SEC and the Municipal Securities Rulemaking Board (the “MSRB”), pursuant to the Securities Exchange Act of 1934 Rule 15Ba1-2. As of the date of the Agreement, PIONEER has not designated PFMSA as its independent registered municipal advisor (“IRMA”) for purposes of SEC Rule 15Ba1-1(d)(3)(vi) (the “IRMA exemption.”). PIONEER agrees not to represent that PFMSA is PIONEER’s IRMA with respect to any aspect of a municipal securities issuance or municipal financial product, without PFMSA’s prior written consent.

Team Members:

George Hu, Director
Other personnel to be assigned as necessary
-

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369617.3

EXHIBIT B

PAYMENT FOR SERVICES RENDERED
Maximum Limit & Fee Schedule
The total amount for services rendered as described in Exhibit A shall not exceed $275,000 as detailed below:

Work Order #1a
PFM Financial Advisors will provide Pioneer with municipal advisory services for a transaction contingent flat fee of $225,000 to serve as Municipal Advisor on any energy prepayment transaction, payable from bond proceeds at closing.

Work Order #1b
For the financial advisory services to be provided by PFM Financial Advisors, compensation will be hourly, based on the following rates, for an amount not to exceed $25,000 and payable directly from Pioneer:

PFM Hourly Rates
PFM Employee Title Hourly Rate
Managing Director $360
Director $325
Senior Managing Consultant $295
Senior Analyst $260
Analyst $225
Work Order #2
PFM Swap Advisors will serve as swaps advisor for the commodity swaps associated with an energy prepayment transaction for a transaction contingent flat fee of $25,000 for any interest rate swap, if necessary, payable from bond proceeds at closing.

Invoices
Invoices shall include a list of work performed by billable hour including date, hours and services provided.

Work performed by Consultant will be subject to final acceptance by Pioneer.

Reimbursable Expenses
Administrative, overhead, secretarial time or overtime, word processing, photocopying, in house printing, insurance and other ordinary business expenses are included within the scope of payment for services and are not reimbursable expenses. Travel expenses must be authorized in advance in writing by Pioneer.

Submit all invoices to: Pioneer Community Energy
Attn: Eric Acedo
[email protected]
2510 Warren Drive, Suite B
Rocklin, CA 95677

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369617.3

EXHIBIT C

FACILITIES, EQUIPMENT, AND OTHER

MATERIALS, AND OBLIGATIONS OF PIONEER
(Specify all equipment and facilities to be provided or made available by Pioneer, and any other Pioneer obligations.)

NOT APPLICABLE

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369617.3

EXHIBIT D

HOLD HARMLESS AGREEMENT

AND INSURANCE REQUIREMENTS

1. HOLD HARMLESS AND INDEMNIFICATION AGREEMENT
A. To the fullest extent permitted by law, CONSULTANT hereby agrees to protect, defend, indemnify, and hold PIONEER free and harmless from any and all losses, claims, liens, demands, and causes of action of every kind and character including, but not limited to, the amounts of judgments, penalties, interest, court costs, reasonable attorneys’ fees, and all other expenses incurred by PIONEER arising in favor of any party, including claims, liens, debts, personal injuries, death, or damages to any real or personal property (including employees or property of PIONEER) and without limitation by enumeration, all other claims or demands of every character occurring or in any way incident to, in connection with or arising directly or indirectly out of CONSULTANT’s negligent or intentionally wrongful performance under this Agreement. CONSULTANT agrees to investigate, handle, respond to, provide defense for, and defend any such claims, demand, or suit at the sole expense of the CONSULTANT, even if the claim or claims alleged are groundless, false, or fraudulent. This provision is not intended to create any cause of action in favor of any third party against CONSULTANT or PIONEER or to enlarge in any way the CONSULTANT’s liability but is intended solely to provide for indemnification of PIONEER from liability for damages or injuries to third persons or property arising from CONSULTANT’s performance pursuant to this Agreement.

PIONEER’s right to indemnity under this Agreement shall arise immediately upon the occurrence of the event giving rise to the indemnified liability. PIONEER shall be entitled to a defense under this Agreement immediately upon the institution of a claim or action that is covered by this indemnity, even though liability for said claim or action has not yet been determined at the time the duty to defend the PIONEER hereunder has arisen.

CONSULTANT shall not be entitled to any refund of attorneys’ fees, defense costs or expenses in the event that it is adjudicated to have been non-negligent. CONSULTANT shall not be required to indemnify PIONEER for such loss or damage as is caused by the active negligence, sole negligence, or willful misconduct of PIONEER.

E. CONSULTANT agrees to obtain executed indemnity agreements with provisions identical to those set forth here from each and every subconsultant or any other person or entity involved in the performance of this Agreement on CONSULTANT’s behalf.

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369617.3

2. INSURANCE:

3. WORKER’S COMPENSATION AND EMPLOYERS LIABILITY INSURANCE:

Worker’s Compensation Insurance shall be provided as required by any applicable law or regulation.

4. GENERAL LIABILITY INSURANCE:

B. Commercial General Liability Insurance shall be no less broad than ISO form CG 00 01.

Coverage must be on a standard Occurrence form. One of the following forms is required:
(1) Comprehensive General Liability; or
(2) Commercial General Liability (Occurrence).

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369617.3
→ Two million dollars ($2,000,000) each occurrence
→ Four million dollars ($4,000,000) aggregate
D. If CONSULTANT carries a Commercial General Liability (Occurrence) policy:
(1) The limits of liability shall not be less than:
→Two million dollars ($2,000,000) each occurrence (combined single limit for bodily injury and property damage)
→Two million dollars ($2,000,000) for Products-Completed Operations →Four million dollars ($4,000,000) General Aggregate
(2) If the policy does not have an endorsement providing that the General Aggregate Limit applies separately, or if defense costs are included in the aggregate limits, then the required aggregate limits shall be two million dollars ($2,000,000).

E. Special Claims Made Policy Form Provisions:

5. ENDORSEMENTS:

Each policy required herein, other than Professional Errors and Omissions and Worker’s Compensation, shall be endorsed with the following specific language:

A. “Pioneer Community Energy, its officers, agents, employees, and volunteers are to be covered as insured for all liability arising out of the operations by or on behalf of the named insured in the performance of this Agreement.”
B. “The insurance provided by the Consultant, including any excess liability or umbrella form coverage, is primary coverage to Pioneer Community Energy with respect to any insurance or self-insurance programs maintained by Pioneer Community Energy and no insurance held or owned by Pioneer Community Energy shall be called upon to contribute to a loss.” C. “This policy shall not be changed without first giving thirty (30) days prior written notice and ten (10) days prior written notice of cancellation for non-payment of premium to Pioneer Community Energy.”

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All endorsements shall be signed by a person authorized by the insurer to bind coverage on its behalf.

6. AUTOMOBILE LIABILITY INSURANCE:

Automobile Liability insurance covering bodily injury and property damage in an amount no less than two million dollars ($2,000,000) combined single limit for each occurrence.

Covered vehicles shall include owned, non-owned, and hired automobiles/trucks using ISO Business Auto Coverage form CA 00 01 (or equivalent).

7. PROFESSIONAL LIABILITY INSURANCE:

Professional liability insurance which includes coverage for the professional acts, errors and omissions of Consultant in the amount of at least $1,000,000 per occurrence and $2,000,000 aggregate.

The deductible or self-insured retention may not exceed $50,000 without the consent of Pioneer Community Energy. If the insurance is on a Claims-Made basis, the retroactive date shall be no later than the Effective Date of the Agreement or commencement of the work. Coverage shall be continued for two years after the completion of the work by one of the following: (1) renewal of the existing policy; (2) an extended reporting period endorsement; or (3) replacement insurance with a retroactive date no later than the commencement of the work under this Agreement. In the event CONSULTANT’s policy is a “claims made” policy only covering those claims made during the policy period, then CONSULTANT agrees to maintain the professional liability insurance required hereunder and with respect to this project in effect for at least three (3) years after acceptance of the work.

8. PRIVACY AND CYBERSECURITY LIABILITY INSURANCE:

If the insurance is on a Claims-Made basis, the retroactive date shall be no later than the Effective Date of the Agreement or commencement of the work. Coverage shall be continued for two years after the completion of the work by one of the following: (1) renewal of the existing policy; (2) an extended reporting period endorsement; or (3) replacement insurance with a retroactive date no later than the commencement of the work under this Agreement. In the event CONSULTANT’s policy is a “claims made” policy only covering those claims made during the policy period, then CONSULTANT agrees to maintain the Privacy and cybersecurity liability insurance required hereunder and with respect to this project in effect for at least three (3) years after acceptance of the work.

9. ADDITIONAL REQUIREMENTS:

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CONSULTANT’s Obligations - CONSULTANT’s indemnity and other obligations shall not be limited by the foregoing insurance requirements and shall survive the expiration of this Agreement.

Subrogation – CONSULTANT hereby waives all rights of subrogation against PIONEER, with the exception of Professional/Cyber Liability. CONSULTANT shall additionally waive such rights either by endorsement to each policy or provide proof of such waiver in the policy itself.

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369617.3

EXHIBIT E

CAMPAIGN CONTRIBUTION DISCLOSURE FORM
Local governments are subject to the campaign disclosure provisions detailed in Government Code Section 84308.

1. ____________________________________

2. ____________________________________

3. ____________________________________
(b) Date and amount of contribution:

Date Amount $
Date Amount $
(c) Name of Pioneer Board member or other Pioneer
official to whom contribution was made:

1. ____________________________________

2. ____________________________________

Printed Name
Signature

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369617.3
corporation is a party to a proceeding, the majority
shareholder is subject to these provisions. Date Phone
Rev. 06.27.24
March 25, 2026
1735 Market Street
42nd Floor
Philadelphia, PA 19103
215.567.6100
pfm.com
Don Eckert
Chief Executive Officer
Pioneer Community Energy
2510 Warren Drive, Suite B
Rocklin, CA 95677
Dear Mr. Eckert:

The purpose of this letter (“Engagement Letter”) is to confirm our agreement that PFM Financial Advisors LLC (“PFM”) will serve as municipal advisor to Pioneer Community Energy (the “Client”) in connection with the structuring and competitive procurement of the investment agreements (together, the “Investment Agreements”) for the Reserve Accounts (consisting of both the Commodity Reserve Account and Debt Service Reserve Account) and Debt Service Account (together, the “Accounts”) related to the California Community Choice Financing Authority Clean Energy Project Revenue Bonds, Series 2026[ ] (the “Bonds”).

As your municipal advisor, we will evaluate various investment strategies for the Accounts, develop written bid specifications, run a competitive bidding process for the Investment Agreements, coordinate review of the Investment Agreements’ terms by credit rating agencies and/or credit enhancers as required, review and provide comments to Investment Agreements documentation in consultation with bond counsel, the Client, the trustee, and, as applicable, Client’s counsel, and coordinate the execution of the Investment Agreements.

In the event that the Investment Agreements are not executed, PFM shall have no liability for any losses or damages arising from such failure to execute and shall be held harmless in respect thereof. Additionally, except to the extent caused by its willful misconduct, bad faith, gross negligence, or reckless disregard of its obligations or duties, PFM shall have no liability to any party under this Engagement Letter. PFM agrees to provide reasonable assistance to the Client upon the Client’s request in the event of a third-party dispute or, if compelled, to respond to a request(s) for documents or information and the Client agrees to reimburse PFM for all reasonable costs and expenses incurred in connection therewith.

This Engagement Letter shall commence on the date hereof and is expected to be completed on or around July 15, 2026. This engagement shall be deemed to be completed on the date on which the Investment Agreements are executed and delivered. Upon the completion of this engagement, if Investment Agreements are procured for the Accounts, the Client, or at the direction of the Client, the Investment Agreements provider(s) on behalf of the Client, will pay PFM a minimum fee of $25,000 and not to exceed $40,000 for the Reserve Accounts and a fee of $51,000 for the Debt 0 pfm
Pioneer Community Energy
California Community Choice Financing Authority Clean
Energy Project Revenue Bonds, Series 2026[ ]
Structured Investments Procurement Engagement Letter
March 25, 2026
Service Account. At the completion of this engagement, the Engagement Letter will be deemed terminated and PFM will have no further responsibility related to the investment of the proceeds of the Bonds.

PFM is a registered municipal advisor with the Securities and Exchange Commission (the “SEC”) and the Municipal Securities Rulemaking Board (the “MSRB”), pursuant to the Securities Exchange Act of 1934 Rule 15Ba1-2. MSRB Rules require that municipal advisors make written disclosures to their clients of all material conflicts of interest, certain legal or disciplinary events and certain regulatory requirements. Such disclosures are provided in PFM’s Disclosure Statement delivered to the Client prior to or together with this engagement. We note that PFM may serve, under separate agreement, as municipal advisor to the Client in connection with the issuance of the Bonds and/or future bond issues.

This Engagement Letter may be terminated by the Client in the event of any material breach immediately upon written notice to PFM or by the Client or PFM upon 30 days’ notice from either to the other. This Engagement Letter shall be construed, enforced, and administered according to the laws of the Commonwealth of Pennsylvania. The parties agree that, should a disagreement arise as to the terms or enforcement of any provision of this Engagement Letter, each party will in good faith attempt to resolve said disagreement prior to pursuing other action.

This Engagement Letter represents the entire agreement between the Client and PFM and may not be amended or modified except in writing signed by the parties, provided that the terms and conditions related to fees may be amended as mutually agreed upon in writing between the Client and PFM.
[Remainder of page intentionally left blank]
0 Pioneer Community Energy
California Community Choice Financing Authority Clean
Energy Project Revenue Bonds, Series 2026[ ]
Structured Investments Procurement Engagement Letter
March 25, 2026
Please have an authorized official of the Client sign a copy of this Engagement Letter and return it to us to acknowledge the terms of this engagement. This Engagement Letter may be signed in any number of counterparts, each of which shall be an original and all of which when taken together shall constitute one and the same document.

Sincerely,
PFM Financial Advisors LLC
Matthew R. Eisel, CFA
Managing Director
Accepted by:

Pioneer Community Energy
Authorized Signature
Name
Title
Client’s Tax ID Number
Date
0 441795.1 Page 1 of 3
Staff Report – Item 1d
To: The Governing Board
From: Brad Koehn, Director of Finance and Administration Item 1d: Adopt Resolution Approving and Authorizing the Chief Executive Officer to Execute First Amendment to Amended and Restated Credit Agreement No. 1 and Execute Any and All Related Documents and Agreements to Modify Line of Credit and Letter of Credit Agreements with Columbia Bank
Date: 4/16/2026

RECOMMENDATION
Adopt resolution approving and authorizing the Chief Executive Officer to execute First Amendment to Amended and Restated Credit Agreement No. 1 and execute any and all related documents and agreements to modify Line of Credit and Letter of Credit agreements with Columbia Bank.

BACKGROUND
Pioneer Community Energy (“Pioneer”) currently maintains a $50 million Line of Credit with Columbia Bank allocated for two specific purposes: $20 million as security for the issuance of Letters of Credit to energy suppliers, and $30 million for working capital. The Line of Credit has proven to be a valuable financial tool for Pioneer to maintain and improve its cash position primarily by being able to utilize a Letter of Credit to satisfy collateral needs instead of posting cash, as may be required by potential energy suppliers. In addition, CAISO also requires Pioneer to maintain a sufficient collateral position to accommodate the volatility of the energy market during its daily settlement of power demand and supply costs, which is currently satisfied by a letter of credit.

Recently, Pioneer received confirmation that a Letter of Credit is also now an acceptable method to satisfy the CPUC mandate for the Financial Security Requirement (FSR) as an alternative to posting cash.

The FSR is a CPUC-required financial guarantee, currently satisfied by cash posted to a trust/escrow account, to offset the cost of a Community Choice Aggregator (CCA) suddenly going out of business and to make the Investor-Owned Utility ‘whole’ as it is required to purchase power in the open market to serve those former CCA customers. Pioneer’s FSR has been at the minimum required amount of $147 thousand through May 2025, when it was increased to $718 thousand. The FSR is updated twice per year with the next FSR posting due in May 2026. The FSR calculations will be updated with then-current numbers in May 2026, but the FSR calculation using current numbers is estimating the FSR requirement may dramatically increase to over $14 million.

Significant variables in the FSR calculation include the Power Cost Indifference Adjustment (PCIA), market rate cost of energy, Resource Adequacy and Renewable Energy Credits. Other CCA’s are also estimating that their FSR will also experience the same type of extreme increase. CalCCA has been actively advocating for CEC review and revisiting the FSR formula and variables of the calculation.

Pioneer is currently working with PG&E and several banks to find a Letter of Credit format that is acceptable to all parties to cover increases in FSR.

ANALYSIS & DISCUSSION
Given the potentially substantial increase in the required FSR posting in May 2026, staff are requesting Columbia Bank change the allocation between Letters of Credit and working capital primarily to provide sufficient capacity Plf)NEER

COMMUNITY ENERGY
Agenda Item: 4 Agenda Date: 4/16/2026
441795.1 Page 2 of 3
to use a Letter of Credit to fund the FSR. The proposed modified Line of Credit reallocates the line of credit capacity to allow $40 million for securitizing Letters of Credit and $10 million for working capital.

The $40 million available for securing the Letters of Credit allows Pioneer to preserve cash and will help manage the impact of drawdowns of Pioneer’s reserves. It also avoids the higher cost that is attributed to using the Working Capital portion of the Line of Credit.

Fee Structure
The fee structure is below and is unchanged from the prior agreements:

Line of Credit
• Annual standby fee of 0.75%
• Prime + 0.5% (or 4% whichever is higher) would be
applicable if Pioneer defaults on a Letter of Credit
and the Line of Credit is used to support the Letter of Credit and/or an advance for working capital is
acquired.

Letter(s) of Credit • 2.0% per annum
Covenants
There are some covenant modifications from the existing agreement to the proposed amendment to the Credit Agreement that Pioneer must fulfill. A summary of key covenants can be found below:

Good Faith Estimates
Under Government Code Section 5852.1, Columbia Bank has provided Pioneer with the following required good faith estimates for Line of Credit and Letter of Credit agreements:
• A True Interest Cost: Variable rate of interest equal to the higher of (a) Prime Rate plus 0.5% per annum, and (b) 4% per annum when the line is drawn on and so long as an event of default has not occurred.
• Finance Charge: $1,175,000 annually, which consists of an annual loan fee of 0.75% and Letter of Credit Fee of 2% per annum (assumed the full $40,000,000 allocated for Letters of Credit) on the required credit amount but does not include one-time legal costs associated with the new Loan Agreement currently estimated at $2,500.
• Amount of Proceeds to be Received by Pioneer: $-0- unless disbursements are required. • Total Payment Amount: $-0- unless the line is drawn on, and if the line is drawn, the interest rates and the letter of credit fees set forth above will apply.

Covenant Existing Agreement Proposed Amendment
CPA Audit Financial Statements 270 days after FY end Same Annual Budget 30 days after approval Same
Qtrly unaudited Financial Statements 60 days after Qtr end Same Debt Ratio No less than 1.20 Same
Days out of Debt Requirement N/A Must have a zero balance for 30 days in the previous 12 months annually
Deposit Relationship $15 million balance $30 million average balance Investment Account Zero Up to $15 million balance credited towards Deposit Relationship
Days Cash on Hand (Liquidity) 90 days 120 days
1d
Agenda Item: 4 Agenda Date: 4/16/2026
441795.1 Page 3 of 3

FISCAL IMPACT
Pioneer will pay a Line of Credit fee and, if/when Letter(s) of Credit are issued, a fee based on the amount issued per the Letter(s) of Credit. If Pioneer receives an advance from the Working Capital allotment, the interest expense would be Prime + 0.5% or 4%, whichever is higher. The Budget included appropriations sufficient to fund such line of credit/letter(s) of credit costs for Fiscal Year 2025-26 in the amount of $462,500.

Although this financial tool has a cost, that resulting preserved cash is able to generate interest earnings that can be viewed as offsetting at least a portion of those Line of Credit and Letter of Credit fees.

ATTACHMENTS

1. Resolution Approving and Authorizing the Chief Executive Officer to Execute Any and All Documents and Agreements to Modify Line of Credit and Letter of Credit Agreements with Columbia Bank 1d
441566.2
Before the Governing Board of
Pioneer Community Energy
Resolution No.: ____________
The following Resolution was duly passed by the Governing Board of Pioneer Community Energy at a regular meeting held April 16, 2026, by the following vote on roll call:

Ayes:

Noes:

Absent:

Signed and approved by me after its passage.
______________________________
Chair of the Governing Board
Attest:
_______________________
Secretary
WHEREAS, Pioneer Community Energy (“Pioneer”) obtains energy provided by energy suppliers for its customers; and
WHEREAS, Pioneer routinely executes energy contracts and an energy supplier may require collateral either in the form of cash or a Letter of Credit in order to agree to an energy contract with Pioneer; and
WHEREAS, past indicative pricing for suppliers that require collateral have demonstrated cost of energy savings even after accounting for the cost of collateral; and WHEREAS, on January 18, 2024, the Governing Board authorized Pioneer to execute an expansion of the then existing line of credit (the “Line of Credit”) with Columbia Bank (formerly known as Umpqua Bank) (the “Lender”) for up to $30 million to allow Pioneer to offer collateral via Letter of Credit to potential power suppliers as a tool in negotiating favorable pricing and attract more creditworthy suppliers, and Pioneer and the Lender executed the Amended and Restated Credit Agreement dated March 25, 2024 (the “Prior Agreement”); and WHEREAS, the use of a Line of Credit for collateral posting preserves Pioneer’s cash for liquidity purposes and for achieving the minimum Board-approved Reserves target; and WHEREAS, on December 1, 2025, Pioneer and Lender entered into that certain Amended and Restated Credit Agreement No. 1 (the “Agreement”) for an increase of the Line of Credit by an $20 million (for a total of up to $50 million), of which $20 million may be used for Letters of Credit In the matter of: RESOLUTION APPROVING AND

AUTHORIZING THE CHIEF EXECUTIVE OFFICER TO

EXECUTE FIRST AMENDMENT TO AMENDED AND
RESTATED CREDIT AGREEMENT NO. 1 AND

EXECUTE ANY AND ALL RELATED DOCUMENTS AND

AGREEMENTS TO MODIFY LINE OF CREDIT AND

LETTER OF CREDIT AGREEMENTS WITH COLUMBIA
BANK
2 441566.2
and $30 million of which may be used for working capital or other legal purposes, which may be viewed favorably by a national rating agency for rating purposes thereby potentially reducing future borrowing costs; and
WHEREAS, Pioneer and Lender now seek to amend the Agreement to increase the portion of the Line of Credit which may be used for Letters of Credit from $20 million to $40 million and reciprocally decrease the portion of the Line of Credit which may be used for working capital or other legal purposes from $30 million to $10 million (the limit of the Line of Credit will remain unchanged at $50 million); and
WHEREAS, the First Amendment to Amended and Restated Credit Agreement No. 1 (the “Amendment”), incorporated by reference and attached hereto as Exhibit “A,” contains the same cost structure and substantially the same terms as approved by the Board in November 2025 and as set forth in the Agreement, except as discussed herein; and WHEREAS, Senate Bill 450 (Chapter 625 of the 2017-2018 Session of the California Legislature) (“SB 450”) requires that the Board of Directors (the “Board”) obtain from an underwriter, municipal advisor or private lender and disclose, prior to authorization of the issuance of bonds, including debt instruments such as the Agreement, with a term of greater than 13 months, good faith estimates of the following information in a meeting open to the public: (a) the true interest cost of the loan payments made pursuant to the Agreement (the “Loan Payments”), (b) the sum of all fees and charges paid to third parties with respect to the Agreement, (c) the amount of proceeds of the Loan Agreement expected to be received net of the fees and charges paid to third parties and any reserves or capitalized interest paid or funded with proceeds of the Loan Agreement, and (d) the sum total of all Loan Payments with respect to the Agreement calculated to the final Loan Payment Date under the Agreement plus the fees and charges paid to third parties not paid with the proceeds of the Agreement; and
WHEREAS, in accordance with SB 450, good faith estimates of the following were obtained from Columbia Bank prior to authorization and approval of the Agreement and remain unchanged for purposes of the Amendment: (a) the true interest cost of the Loan Payments, (b) the sum of all fees and charges paid to third parties with respect to the Agreement, (c) the amount of proceeds of the Agreement expected to be received net of the fees and charges paid to third parties and any reserves or capitalized interest paid or funded with proceeds of the Agreement, and (d) the sum total of all Loan Payments calculated to the final Loan Payment Date under the Agreement plus the fees and charges paid to third parties not paid with the proceeds of the Agreement.

NOW THEREFORE, BE IT RESOLVED, the Governing Board of Pioneer Community Energy, State of California, hereby finds, declares, and resolves as follows:

1. The above recitals are true and correct.

2. The Governing Board hereby approves and authorizes the Chief Executive Officer or his designee to execute the Amendment, with $40 million of the $50 million Line of Credit to provide for the issuance of Letter(s) of Credit and $10 million of the $50 million Line of Credit to be used by Pioneer for working capital and other legal purposes, from the Lender, provided that the term does not extend beyond 5 years, interest costs does not exceed Prime plus 0.5%, and the annual Line of Credit fee does not exceed 0.75%, and the Letter(s) of Credit Fee does not exceed 2% per annum on the required credit amount.

Resolution 2026-__
April 16, 2026
Resolution 2026-__
April 16, 2026
3 441566.2

3. The Governing Board hereby approves and authorizes the Chief Executive Officer or his designee to execute a future Amendment that removes the allocation limit to issuance of Letter(s) of Credit and working capital and other legal purposes as long as the $50 million Line of Credit does not increase.

4. The Governing Board hereby authorizes the Chief Executive Officer or his designee to execute all documents deemed necessary to consummate the Amendment.

5. The Governing Board hereby authorizes and directs the Chief Executive Officer or his designee and other officers and agents of Pioneer, and each of them individually, for and in the name of and on behalf of Pioneer, to do any and all things and to execute and deliver any and all documents that they may deem necessary to assist Pioneer in reallocating the Line of Credit between Letter(s) of Credit and working capital and other legal purposes, but not limited to, any certificates, instructions, notices or other documents required by the Amendment and otherwise to carry out, give effect to, and comply with the terms and intent of this resolution. All actions heretofore taken by such officers and agents that are in conformity with the purposes and intent of this resolution are hereby ratified, confirmed and approved in all respects.

6. This Resolution shall take effect immediately upon its adoption.

Exhibit A: First Amendment to Amended and Restated Credit Agreement No. 1 4909-0623-4780.3

RESOLUTION EXHIBIT A
FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT NO. 1 This FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT NO. 1 (this “Amendment”) is dated April __, 2026, by PIONEER COMMUNITY ENERGY, a joint exercise of powers agency formed and existing under the provisions of the Joint Exercise of Powers Act of the State of California, Government Code Section 6500 et. seq. (the “Borrower”), and COLUMBIA BANK, an Oregon state chartered bank (including its successors and assigns, the “Lender”).

WITNESSETH:

A. The Borrower and the Lender previously executed an Amended and Restated Credit Agreement No. 1, dated December 1, 2025 (the “Original Agreement”), pursuant to which the Lender agreed to provide advances to the Borrower in an amount not-to-exceed $50,000,000 (the “Commitment”), of which up to $20,000,000 of which may be used for Letters of Credit (the “LOC Revolving Credit Commitment”) and of which up to $30,000,000 may be used for working capital and any other legal purposes of the Borrower (“Working Capital Revolving Credit Commitment”), to provide a source of funds for the purpose of allowing the Borrower to provide collateral postings as required for future energy supply contracts or any other collateral posting approved by the Lender, subject to the terms and conditions set forth in the Original Agreement.

B. The Borrower has now requested that the amount of the LOC Revolving Credit Commitment be increased to $40,000,000 and the amount of the Working Capital Revolving Credit Commitment be decreased to $10,000,000, and the Lender has agreed to such revisions and further amendments pursuant to this Amendment.

NOW THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows:

Section 1. Amendments.

The Original Agreement is hereby amended as follows:
(a) The definition of “LOC Availability” in Section 1.1 of the Original Agreement is hereby deleted and replaced in its entirety with the following:
“ “LOC Availability” means the difference between $40,000,000 and the sum of all outstanding LOC Advances at the close of business each day.” (b) The definition of “LOC Revolving Credit Commitment” in Section 1.1 of the Original Agreement is hereby deleted and replaced in its entirety with the following:
“ “LOC Revolving Credit Commitment” means $40,000,000.” (c) The definition of “Working Capital Availability” in Section 1.1 of the Original Agreement is hereby deleted and replaced in its entirety with the following:
4909-0623-4780.3
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“ “Working Capital Availability” means the difference between $10,000,000 and the sum of all outstanding Working Capital Advances at the close of business each day.”
(d) The definition of “Working Capital Revolving Credit Commitment” in Section 1.1 of the Original Agreement is hereby deleted and replaced in its entirety with the following:
“ “Working Capital Revolving Credit Commitment” means $10,000,000.” (e) Section 1.1 of the Original Agreement is hereby amended by the addition of the following definition which is to be situated therein by alphabetical order:
“ “First Amendment” means the First Amendment to Amended and Restated Credit Agreement No. 1, dated April __, 2026, by and between the Borrower and the Lender.”
(f) Section 2.1(a) of the Original Agreement is hereby deleted and replaced in its entirety with the following:
“Revolving Credit for Letters of Credit. Subject to the terms and conditions of this Agreement, Lender agrees to make a revolving credit facility (the “LOC Revolving Credit”) available to Borrower for the purpose of supporting the issuance of Letters of Credit in one or more advances in an aggregate amount not to exceed $40,000,000 (each a “LOC Advance”) in accordance with Section 4, provided that the conditions precedent to each LOC Advance specified in Section 9 are satisfied. Subject to the LOC Revolving Credit Commitment and the other terms and conditions of this Agreement, Borrower may periodically request LOC Advances; provided, however, that Lender shall have no obligation to make LOC Advances on or after the Revolving Credit Termination Date.” (g) Section 2.1(b) of the Original Agreement is hereby deleted and replaced in its entirety with the following:
“Revolving Credit for Working Capital. Subject to the terms and conditions of this Agreement, Lender agrees to make a revolving credit facility (the “Working Capital Revolving Credit”) available to Borrower for the purpose of using such proceeds for working capital of Borrower or for any other legal purpose in one or more advances in an aggregate amount not to exceed $10,000,000 (each a “Working Capital Advance”), provided that the conditions precedent to each Working Capital Advance specified in Section 9 are satisfied. Subject to the Working Capital Revolving Credit Commitment and the other terms and conditions of this Agreement, Borrower may periodically request Working Capital Advances; provided, however, that Lender shall have no obligation to make Working Capital Advances on or after the Revolving Credit Termination Date.” (h) Exhibit B of the Original Agreement is hereby deleted and replaced in its entirety with the form attached hereto as Exhibit B.
4909-0623-4780.3
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Section 2. Conditions to Delivery of this Amendment
The amendments to the Original Agreement provided for in Section 1 hereof shall become effective on the date hereof; provided, that each of the following conditions shall be fulfilled to the satisfaction of the Lender:
(a) The Lender shall have received:
(i) executed counterparts of this Amendment, signed by authorized representatives of the Borrower; and
(ii) all other legal matters pertaining to the execution and delivery of this Amendment shall be satisfactory to the Lender and the execution and delivery hereof and thereof by the Lender shall constitute conclusive evidence that all such legal matters have been completed to the satisfaction of the Lender.
(b) The representations and warranties of the Borrower contained in Section 8 of the Original Agreement shall be true and correct in all material respects with the same effect as though made on and as of the date hereof (except to the extent a representation or warranty relates specifically to an earlier date, in which case, such representation and warranty shall have been true and correct as of such earlier date);
In addition to the foregoing representations, the Borrower hereby represents and warrants as follows:
(i) the execution, delivery and performance by it of this Amendment are within its respective powers, have been duly authorized by all necessary action and do not contravene any law or any contractual restriction binding on or affecting it; (ii) it has performed, and is in compliance with, all agreements and conditions set forth in the Original Agreement that it is required to satisfy in connection with the execution, delivery and performance of the Amendment on and prior to the date hereof and the Original Agreement, as amended by this Amendment, constitute the legal, valid and binding obligations of it and are enforceable against it in accordance with their terms; and (iii) no further authorization, approval or other action by, and no notice to or filing is required for its due execution, delivery and performance of this Amendment. (c) There shall not have occurred any material adverse change in the financial condition or operations of the Borrower since the date of the most recent financial information provided to the Lender pursuant to the Original Agreement, except as otherwise disclosed by the Borrower to the Lender. On or prior to the date hereof, (i) there shall not have occurred a change in the laws, rules, guidelines or regulations (or the interpretation or administration thereof) applicable to the Borrower which materially adversely affects the ability of the Borrower to perform its obligations under the Original Agreement, or the other Loan Documents, as determined by the Lender in its sole discretion, and (ii) no law, regulation, ruling or other action of the United States or the State of California or any political subdivision or authority therein or thereof shall be in effect or shall have occurred, the effect of which would be to prevent the Lender 4909-0623-4780.3
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from fulfilling its obligations under this Agreement. No event has occurred which constitutes a Default or an Event of Default under the Original Agreement. (d) The Borrower shall have paid, in immediately available funds, on or before the date hereof to Lender’s counsel, Nixon Peabody LLP, in the amount of $2,500. (e) The Lender shall have received such other approvals, opinions, certificates, instruments and documents as it may reasonably request.

Section 3. Miscellaneous
(a) The parties hereto acknowledge and confirm that, from and after the date hereof, any reference in the Original Agreement, or Loan Documents to the “Agreement” shall mean and refer to, collectively, the Original Agreement, as amended by this Agreement. (b) Except as provided in this Amendment, the Original Agreement shall remain in full force and effect and unaffected hereby except, as set forth herein, from and after the date hereof. (c) This Amendment and the Original Agreement, as amended hereby, shall be subject to Section 12.12 of the Original Agreement.
(d) This Amendment may be executed by the parties in counterparts, each such counterpart shall be deemed an original, and all such counterparts taken together shall constitute one and the same binding instrument. A facsimile signature to this Amendment or a signature transmitted electronically shall count as an original signature. (e) If any provision of this Amendment shall be held invalid, illegal, or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby.
(f) The parties hereto shall perform any further acts and execute and deliver any further documents which may be reasonably necessary or otherwise required in furtherance of the transactions contemplated hereby.
[Signatures follow.]
4909-0623-4780.3
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of the date first written above.

LENDER:

COLUMBIA BANK, an Oregon state chartered
bank
By: ________________________
Authorized Representative
4901-0138-2255.7
EXHIBIT B – FORM OF NOTE
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of the date first written above.

BORROWER:

PIONEER COMMUNITY ENERGY
By:

Donald Eckert Jr.

Chief Executive Officer
4901-0138-2255.7
EXHIBIT B – FORM OF NOTE

EXHIBIT B

FORM OF NOTE
FOR VALUE RECEIVED, PIONEER COMMUNITY ENERGY, a public agency formed under the provisions of the Joint Exercise of Powers Act of the State of California, Government Code Section 6500 et seq. (“Borrower”), promises to pay to the order of COLUMBIA BANK (formerly known as Umpqua Bank) (including its successors and assigns, “Lender”) the principal sum of up to FIFTY MILLION and No/100 DOLLARS ($50,000,000), pursuant to the terms of that certain Amended and Restated Credit Agreement No. 1 (as amended and supplemented, the “Amended and Restated Credit Agreement”) dated December 1, 2025, between Borrower and Lender, together with interest thereon as provided herein and therein. All payments under this Amended and Restated Revolving Credit Promissory Note (as amended and supplemented, this “Note”) shall be made to Lender at its address specified in the Amended and Restated Credit Agreement, or at such other place as the holder of this Note may from time to time designate in writing, in accordance with the terms of this Note and the Amended and Restated Credit Agreement. Capitalized terms used but not defined in this Note shall have the definitions provided in the Amended and Restated Credit Agreement.

The purpose of this Note is to replace the Promissory Note dated March 25, 2024 (the “Prior Note”), executed by the Borrower to evidence amounts borrowed under the Prior Agreement. This Note is the Note referenced in the Amended and Restated Credit Agreement, and the terms hereof are incorporated by reference into the Agreement. For the avoidance of doubt, this Note replaces in its entirety the Prior Note, and such Prior Note is no longer in force and effect, and any amounts outstanding under such Prior Note shall be outstanding hereunder under this Note.

Payment Terms. Borrower agrees to pay monthly payments of interest only on the unpaid principal balance of this Note as of each Payment Date beginning on December 15, 2025, with all subsequent payments due and payable on each Payment Date thereafter as provided in Section 3 of the Amended and Restated Credit Agreement. Interest will accrue prior to maturity (whether by lapse of time, acceleration or otherwise) at the Applicable Rate and after maturity (whether by lapse of time, acceleration or otherwise), whether before or after judgment, at the Default Rate, until paid in full.

Working Capital. This Note, in part, is executed in connection with working capital and other legal purposes being borrowed by the Borrower pursuant to and in compliance with the terms of the Amended and Restated Credit Agreement; provided, however, that the total amount that may be allocated under this Note towards working capital shall not exceed $10,000,000 as described further in the Amended and Restated Credit Agreement.

Letters of Credit. This Note, in part, is executed in connection with Letter of Credits issued by the Lender to the applicable beneficiary specified therein (each a “Beneficiary”) pursuant to and in compliance with the terms of the Amended and Restated Credit Agreement; provided, however, that the total amount that may be allocated under this Note towards Letters of Credit shall not exceed $40,000,000 as described further in the Amended and Restated Credit Agreement.
4901-0138-2255.7
EXHIBIT B – FORM OF NOTE
Draw or Demand Under the Letters of Credit. Borrower directs and authorizes Lender to immediately advance funds under the applicable Letter of Credit to repay in full any demand or draw request from the applicable Beneficiary under the Letter of Credit (the “Disbursement”).

Payment Terms Under the Letters of Credit. Borrower agrees to pay any Disbursement immediately upon demand from Lender and in no event less than three (3) Business Days from the date of the Disbursement (the “Demand Date”). From the date of the Disbursement to the Demand Date, Borrower shall pay interest only on the unpaid principal balance of the applicable Letter of Credit of Credit (whether by lapse of time, acceleration or otherwise) at the Applicable Rate, and after the Demand Date (whether by lapse of time, acceleration or otherwise), whether before or after judgment, at the Default Rate, until paid in full.

Credit Agreement and Cash Collateral. If (i) any Letter of Credit has been issued and remains unexpired on the Revolving Credit Termination Date, or (ii) the LOC Revolving Credit Commitment terminates for any reason before the surrender of any outstanding Letter of Credit, then Borrower shall, within three (3) days after written notice from Lender, provide Cash Collateral to Lender with a value of not less than 110% of the aggregate principal amount of all outstanding Advances, to be held by Lender as security until all Obligations with respect to outstanding Letters of Credit shall have been fully and finally discharged, or Borrower may void or cancel any outstanding Letter of Credit, provided that any Disbursements that are outstanding thereunder shall have been paid by Borrower to Lender.

Maturity Date. The outstanding principal balance of this Note and all accrued but unpaid interest thereon shall be due and payable in full on the Revolving Credit Termination Date.

Default and Acceleration. Upon the occurrence of any Event of Default described in Section 11.1 of the Amended and Restated Credit Agreement, Lender or any permitted holder of this Note may exercise any or all of the rights and remedies set forth therein, including the exercise of Lender’s option to accelerate this Note and declare all Advances and all indebtedness under this Note then outstanding to be immediately due and payable, with or without notice to Borrower, as applicable.

Miscellaneous. This Note and the holder hereof are entitled to all of the rights benefits provided for in the Amended and Restated Credit Agreement. All of the terms, covenants and conditions contained in the Amended and Restated Credit Agreement are hereby made part of this Note to the same extent and with the same force as if they were fully set forth herein. In the event of a conflict or inconsistency between the terms of this Note and the Amended and Restated Credit Agreement, the terms and provisions of the Amended and Restated Credit Agreement shall control.

This Note may not be modified, amended, waived, extended, changed, discharged or terminated orally or by any act or failure to act on the part of Borrower or Lender, but only by an agreement in writing signed by the party against whom enforcement of any modification, amendment, waiver, extension, change, discharge or termination is sought.

This Note will be construed in accordance with, and governed by, the internal laws of the State of California.
4901-0138-2255.7
EXHIBIT B – FORM OF NOTE
Borrower promises to pay all costs and expenses (including reasonable attorneys’ fees and expert witnesses’ fees) suffered or incurred by Lender or subsequent holder of this Note in the collection of this Note or the enforcement Lender’s rights and remedies under the Amended and Restated Credit Agreement.

Borrower hereby waives presentment for payment and demand. If any part of this Note cannot be enforced, this fact will not affect the rest of the Note. Lender may delay or forego enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive any applicable statute of limitations, presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) the obligations evidenced by this Note or release any party or guarantor or collateral, or impair, fail to realize upon or perfect Lender’s security interest in the collateral, if any; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify the terms of this Note without the consent of or notice to anyone other than the party with whom the modification is made.

Prior to signing this Note, Borrower read and understood all the provisions of this Note and the Amended and Restated Credit Agreement, including the variable interest rate provisions in the Amended and Restated Credit Agreement. Borrower agrees to the terms of this Note and the Amended and Restated Credit Agreement. Borrower acknowledges receipt of complete copies of this Note and the Amended and Restated Credit Agreement. 4909-0623-4780.3

PIONEER COMMUNITY ENERGY
By:

Name:

Title:
4909-0623-4780.3

NOTATIONS
Amount being borrowed for Working Capital (shall not exceed $10,000,000):

Amount being borrowed for Letters of Credit (shall not exceed $40,000,000):

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Staff Report – Item 2
To: The Governing Board
From: Donald Eckert Jr., Chief Executive Officer
Item 2: Authorize the Chief Executive Officer to explore the opportunity for Pioneer to expand its territory to include the City of South Lake Tahoe
Date: 4/16/2026

RECOMMENDATION
Authorize the Chief Executive Officer to explore the opportunity for Pioneer to expand its territory to include the City of South Lake Tahoe

BACKGROUND
The City of South Lake Tahoe (“CSLT”) currently is served by Liberty Utilities, one of California’s three smaller investor-owned utilities. In late 2024, the CSLT reached out to Pioneer Community Energy (“Pioneer”) for additional information about joining a Community Choice Aggregator (“CCA”).

On March 25, 2025, the CSLT presented its CCA Feasibility Memo to its council and invited Pioneer to attend the meeting. Pioneer attended the meeting, provided an overview of CCAs in general and Pioneer more specifically.

Staff has monitored subsequent meetings related to the regional effort to join a CCA, consistently acknowledging that there are various challenges that must be addressed for the CSLT to join Pioneer or any California CCA.

On March 20, 2026, the CSLT learned that Liberty Utilities had alerted regulators that its main power supplier, NV Energy, will discontinue its energy contract after May 2027 to instead meet increasing energy demands from data centers in Nevada. NV Energy’s decision means that Liberty Utilities must find replacement power for the CSLT.

That same day, the CSLT contacted Pioneer to inquire about becoming a Pioneer member and/or if there is a way that Pioneer may be able to help provide power after May 2027.

Important to note is the CSLT is in El Dorado County, which already is a Pioneer member.

ANALYSIS & DISCUSSION
There are several complicating factors that must be addressed before the CSLT could join Pioneer. Specifically, Liberty currently operates within the Nevada Energy Balancing Authority Area (“BAA”) and is not physically connected to the California Independent System Operation (“CAISO”) area. Additionally, the existing transmission system does not have the capacity to transfer energy directly from California into Liberty's CSLT service territory, and most of the energy delivered to Liberty's customers comes from supply sources in Nevada.

Despite these challenges, Pioneer could potentially help the CSLT in the interim and beyond, though additional research and information is necessary to determine what approach is most feasible. Since Liberty plans to bid its future power contract once the California Public Utilities Commission (“CPUC”) approves its procurement process, Pioneer potentially could procure the power needed to service the CSLT.

Liberty is aggressively pursuing strategies to access broader energy markets, and its strategy for replacing the NV Energy contract involves the Greenlink Nevada Project. Once completed, Liberty expects to gain rights Plf)NEER

COMMUNITY ENERGY
Agenda Item: 2 Agenda Date: 4/16/2026

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to use this new transmission infrastructure to reach alternative energy suppliers. By utilizing the new transmission lines, Liberty could contract with members of CAISO or other regional markets, even if they aren't physically connected to California's main grid. The Greenlink Nevada Project could potentially create an opportunity for Pioneer to serve the CSLT.

STRATEGIC PLAN
The recommendation supports the strategic goals to Be Fiscally Strong and Resilient and Be a Community Partner.

FISCAL IMPACT
There will be cost associated with consulting fees but difficult to estimate at this phase.

ATTACHMENTS

1. “Nevada utility to Lake Tahoe: Find electricity elsewhere.” CalMatters (March 27, 2026)

2. Electric Investor-Owned Utilities Service Area Map
Donate
Track Your Legislator Politics Immigration Housing Education Economy Environment California Voice 4 ECONOMY
Nevada utility to Lake Tahoe: Find electricity elsewhere

BY MALENA CAROLLO
MARCH 20, 2026
Republish
The Lake Tahoe area needs a new energy partner by May 2027. South Lake Tahoe on Feb. 9, 2024. Photo by George Rose, Getty Images

IN SUMMARY
Lake Tahoe's longtime power supplier, NV Energy, will cut off the region next year. It has said data centers are driving "unprecedented" demand.

A utility serving 49,000 Lake Tahoe customers has a little over a year to find a new source for 75% of its power. Liberty Utilities, one of California's three smaller investor-owned power companies, alerted regulators this month that its main power supplier won't continue its contract after May 2027.

Liberty, whose territory sits on the border of California and Nevada, generates about 25% of its power from solar facilities in Nevada. The rest is purchased through Nevada-based NV Energy, which said that it wouldn't be able to continue this arrangement because of its "own resource needs," Liberty told regulators this month. "Our absolute goal is twofold: We want to achieve our renewable requirements in the state, and we also want it to be as affordable as possible," Eric Schwarzrock, president of Liberty, said.

The replacement power is most likely to come from sources outside of California. Liberty is not physically connected to California's energy market, which serves the state's other electric utilities. Instead, its transmission lines come from Nevada.

Liberty's deadline for replacement power is tied to a major transmission project - Greenlink Nevada - that NV Energy is finishing; when that is complete, NV Energy will stop providing Liberty power, but Liberty will gain the rights to use that transmission infrastructure to reach other sources of replacement energy.

In a statement, NV Energy said it is "aware of Liberty Utilities' advice letter to California regulators and is currently reviewing it."
Data centers have driven requests to triple the company's peak capacity, NV Energy's director of business development said at a regional business event in September, as first reported by the Las Vegas Review-Journal. "These are unprecedented times," he said during a panel discussion of the centers, adding, "we are excited to serve this load" but "we cannot impact our existing customer base." Liberty's letter to the California Public Utilities Commission about the change also sought approval to undertake a process for replacing the power and how it would rank proposals it receives, namely seeking the lowest-cost power. Once the commission approves its requests, commission spokesperson Terrie Prosper said, Liberty would choose its new energy supplier and seek approval from the regulator on the final contract.

Liberty, Schwarzrock said, plans to bid its contract out to "anybody and everybody," focusing first on meeting its renewable energy requirements California sets. The utility's unusual peak season, he said, makes it a favorable partner for energy providers. Whereas most utilities in the region peak in summer, when it's hottest, Liberty's peak season is around Christmas when those with second homes at Lake Tahoe arrive for the winter ski season.
© 2026 CalMatters
T:\Projects\Open Data Hub\ArcPro_Projects\Electric_IOU_Areas\Electric_IOU_Areas.aprx California, 2020
Electric Investor Owned Utilities

PACIFICORP

LIBERTY

UTILITIES
SCE
SDG&E

BEAR VALLEY

ELECTRIC

SERVICE
PG&E
SCE: Southern California Edison
SDG&E: San Diego Gas & Electric
PG&E: Pacific Gas & Electric Company
PacifiCorp
Liberty Utilities
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Bear Valley Electric Service
1111
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Staff Report – Item 3
To: The Governing Board
From: Lee Ewing, Manager, Legislative and Regulatory Affairs Item 3: 2026 Pioneer Legislative Policy and Platform
Date: 4/16/2026

RECOMMENDATION
Receive and approve the 2026 Pioneer Legislative Policy and Platform that includes the following current recommendations:
• adopt support position on: Assembly Bill (AB) 706 (Aguiar-Curry), AB 1761 (Rogers), AB 2266 (Schultz), Senate Bill (SB) 1138, SB 875
• adopt oppose position on: SB 1295 (Stern)

BACKGROUND
Pioneer Community Energy (Pioneer) develops a Legislative Policy and Platform (Legislative Platform) annually in order to provide guidance and direction for Pioneer staff (Staff) to respond in a timely and nimble manner, as changes occur quickly in a dynamic legislative environment. After identifying bills that fit the descriptions of the legislative policy and platform objectives mentioned below, Staff ranks the bills as support, oppose, or watch based on how they would impact Pioneer and/or its customers.

The California State Legislature reconvened on January 5, 2026, and the final bill introduction deadline was February 20, 2026. Since this is the second year of a two-year session, many important bills have continued to be amended from their introduction in 2025, along with new bills that have been introduced in 2026 that may affect the energy market, generally, and Pioneer, specifically. Bill measures included in the Legislative Platform will likely be altered in intention, scope, and potential impact through amendments during the 2026 session. Staff will continue to monitor and keep the Board apprised accordingly if recommended positions should be revised. The attached Legislative Platform lists current bills of interest that are being monitored and are not fully inclusive of all the bills on the legislative agenda.

Pioneer Community Energy Legislative Policy
Pioneer supports legislation that enables, protects, and enhances Pioneer’s priorities and ability to serve its customers as determined by the Governing Board of Pioneer.

Pioneer’s priorities are:
• To maintain local control for the purpose of preserving the ability to self-procure its power resources, and to self-determine its rates and the energy programs it offers to its residents, businesses, and the communities it serves, through the mechanisms of local governance • To provide lower and more stable rates for its customers • To provide local economic and resiliency benefits to its customers and the communities it serves • To have maximum flexibility to utilize and develop local resources for economic, social and environmental benefit
Pioneer will support legislation which enables, protects, and enhances the development and expansion of Community Choice Aggregation (CCA) programs, and that supports CCA independence in procurement, program deployment, management and decision making.

Plf)NEER

COMMUNITY ENERGY
Agenda Item: 3 Agenda Date: 4/16/2026

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Pioneer will support legislation which allows it to develop and procure local energy generation resources to meet the needs of its electric customers, particularly biomass and other base load resources such as waste to energy.

Platform Objectives for 2026
• Protect and enhance local control and ability to self-govern, self-procure power resources, determine rates and energy programs
• Ensure CCA inclusion in market opportunities and programs • Prevent development of new, or increased non-bypassable charges from legislative mandates or policy direction, or other costs to Pioneer or its customers that do not provide commensurate benefit, and to phase out or eliminate existing non-bypassable charges that do not provide commensurate benefit • Protect and enhance procurement independence and local control of CCA governing boards • Protect and enhance independence to administer energy efficiency, integrated distributed energy resources, and to receive renewable energy credits and other benefits from the administration of such programs
• Protect and enhance the ability to develop local renewable generation from local sources including but not limited to biomass, waste-to-energy, and bio-methane generation resources • Reform IOU procurement practices to minimize stranded load and mitigate non-bypassable charges to CCA customers.
• Protect, support, and participate in the development of energy policy that is balanced, inclusive, and fair for all load serving entities and the customers they serve. • Pursue administrative and legislative initiatives that support the expansion of a regional grid that improves reliability, improves transmission planning, and reduces costs for ratepayers and load serving entities

ANALYSIS & DISCUSSION
Pioneer developed the 2026 Pioneer Legislative Policy and Platform based on the legislative policy and objectives mentioned above. All relevant bills were analyzed, summarized, and generally ranked as Support, Oppose, or Watch by Staff. The following key bills are the highest priority Assembly and Senate bills introduced this session for Pioneer and have been designated a position of Support, Oppose or Watch, and sometimes denoting, Unless Amended.

Support: Pioneer will support in various ways that may include sponsorship, writing letters of support, lobbying other market participants to support, support through California Community Choice Association (CalCCA), requesting Member Agencies to offer their support, etc.

Oppose: Pioneer will oppose in various ways that may include writing letters of opposition, lobbying other market participants to oppose, oppose through CalCCA, requesting Member Agencies to oppose, etc.

Watch: Pioneer will monitor and continue to watch, offer support, or oppose depending on new information or modifications to the bill that may arise.

Agenda Item: 3 Agenda Date: 4/16/2026

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High Priority Bills to Support or Oppose in 2026
AB 706, Aguiar-Curry (D) - Forest Organic Residue, Energy, and Safety Transformation (FOREST) and Wildfire Prevention Fund Act
Impact to Pioneer: Yes
This is a Pioneer sponsored bill that would establish the FOREST and Wildfire Prevention Fund, to promote biomass utilization that contributes to California’s wildfire fuel reduction targets. This fund would be continuously appropriated to the fire fuel reduction procurement program, also established by this bill. The fund and program would promote adequate biomass development and procurement to ensure forest waste generated from fuel reduction efforts can be processed into clean firm energy, instead of being left to decay or managed through prescribed and open pile burning.

Creating a fund to support the development and procurement of biomass energy would create a market for biomass waste, resulting in lowered wildfire risk through fuel reduction and an increased supply of renewable baseload energy.

SB 1295, Stern (D) - Energy storage systems: procurement Impact to Pioneer: Yes
This bill would require the Public Utilities Commission, on or before January 1, 2030, to consider procurement strategies for the installation of up to 40,000 MW of energy storage systems, including mandating a procurement target on load-serving entities to be completed on or before December 31, 2040.

Priority: High
Recommended Action/Position: Oppose. As a load-serving entity, Pioneer is subject to the Public Utilities Commission’s procurement mandates. Procurement mandates, particularly technology-specific procurement mandates, are problematic as they can cause market scarcity and drive up the price of resources, which are then passed onto ratepayers. Additionally, this bill does not align with Pioneer’s principles of procurement autonomy, as it would force load-serving entities to procure a significant amount of one type of resource.

Therefore, it is crucial for Pioneer to maintain our procurement autonomy, and advocate for procurement mandates that are least disruptive to the market by allowing for maximum flexibility in timeline and resource types.

AB 1761, Rogers (D) - Electricity: calculation methodology: data disclosure Impact to Pioneer: Yes
This bill would improve the transparency in the process of calculating the power charge indifference adjustment (PCIA), a non-bypassable charge that Community Choice Aggregator (CCA) customers pay to PG&E for the generation resources PG&E procured on their behalf. AB 1761 proposes amending the Public Utilities Code to require the CPUC and IOUs to disclose all data used to calculate PCIA costs, including cost inputs, forecasting assumptions, and methodologies. The bill would also ensure that when parties make proposals in a proceeding to change the PCIA they provide all the underlying data informing that proposal.

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from sudden rate swings. It reduces repeated fights over information, improves regulatory efficiency, and encourages utilities to verify calculations since the underlying data would be open to review. Costs to implement the proposal are miniscule, as most of this information already exists, while the benefits for rate, accuracy, stability, and consumer protection are substantial. This proposal strengthens confidence that customers pay their fair share — and not more.

AB 2266, Schultz (D) - Electricity: load-serving entities Impact to Pioneer: Yes
This bill would require the Public Utilities Commission (Commission), on or before January 1, 2030, to use the same capacity valuation method when assessing the reliability value of resources and when setting resource adequacy and procurement obligations for load-serving entities. The bill would also require the Commission to initiate a process, on or before January 1, 2030, to consolidate compliance reporting requirements for the state’s Resource Adequacy (RA), Renewables Portfolio Standard (RPS), and Integrated Resource Planning (IRP) programs into a single compliance reporting process.

Priority: High
Recommended Action/Position: Support. As a load-serving entity, Pioneer is subject to the RA, RPS, and IRP programs that are administered by the Commission. This bill would align the valuation methodology used when assessing resource capacity value and setting procurement requirements, which is more efficient and cost-effective than having to procure towards two different standards. In addition, it would consolidate reporting requirements, which also increases efficiency and cost-effectiveness, by reducing duplicative workload. Overall, this bill would improve efficiency in the procurement regulatory frameworks to which Pioneer must comply.

SB 1138, Padilla (D) - Load-serving entities: resource adequacy requirements Impact to Pioneer: Yes
This bill would require the Public Utilities Commission to allow load-serving entities to transact their load obligation, under the RA program requirements, with other load-serving entities on an hourly basis. This change would be aligned with the granularity of the RA program’s new slice-of-day (SOD) structure, which requires procurement compliance at the hourly, instead of previously monthly, level.

Priority: High
Recommended Action/Position: Support. As a load-serving entity subject to the RA program, Pioneer would benefit from the flexibility of hourly load obligation trading, which has the potential to reduce unnecessary over-procurement and save ratepayers money. By allowing efficient trading of long and short positions on an hourly basis, this proposal will also reduce the over-procurement of RA and lower costs overall.

SB 875, Wiener (D) – Public utilities: eminent domain
Impact to Pioneer: Yes
This bill would make procedural reforms, requiring the Commission to reduce barriers to the process of municipalization in Pacific Gas & Electric Company’s (PG&E) territory. This bill would re-establish the historical standard that public entities demonstrate the public interest in their acquisition of utility facilities and clarify that Commission review of public purchases of utility infrastructure be limited to determining whether the transaction is fair and reasonable to affected public utility employees. The bill would also establish enforceable timelines to prevent PG&E from causing excessive delays at the Commission.

Priority: High
Agenda Item: 3 Agenda Date: 4/16/2026

Page 5 of 5 ends

Recommended Action/Position: Support. In the last decade, the city of San Francisco and other public utilities have been trying to exit PG&E service, but the process has been significantly delayed by lengthy regulatory proceedings at the Commission. Considering Pioneer also operates in PG&E territory, our customers have experienced many of the same issues shared by other localities that have expressed interest in municipalization, including significantly increasing costs and power outages. This bill would open the path to an improved municipalization process for all entities within PG&E territory, should future interest arise in our service territory.

Bills on Watch List
Pioneer is closely watching a separate list of high and medium priority bills that may change in status (to support or oppose) based on how they evolve and correspond to Pioneer’s approved Legislative Policy and Platform.

STRATEGIC PLAN
The recommendation supports the Financial Stability & Strategic Growth Priority.

FISCAL IMPACT
There is no fiscal impact with the recommendation.

ATTACHMENTS

1. 2026 Pioneer Legislative Policy and Platform
2026 State
Legislative Policy
and Platform
Plf)NEEA

COMMUNITY ENERGY
ii | Page Pioneer State Legislative Policy and Platform 2026 Pioneer Community Energy Governing Board
Alice Dowdin Calvillo, City of Auburn, Chair
Greg Janda, City of Rocklin, Vice Chair
Tom Ivy, City of Grass Valley
Sean Lomen, City of Colfax
Lori Parlin, County of El Dorado
Richard Pearl, City of Lincoln
David Ring, Town of Loomis
Gary Petersen, City of Nevada City
Anthony Demattei, County of Placer
Suzanne Jones, County of Placer
Ryan Carter, City of Placerville
Alternates:

Sandy Amara, City of Auburn
Kim Douglass, City of Colfax
Brian Veerkamp, County of El Dorado
Jan Arbuckle, City of Grass Valley
John Reedy, City of Lincoln
Danny Cartwright, Town of Loomis
Lou Ceci, Nevada City
Bonnie Gore, County of Placer
David Yarbrough, City of Placerville
David Bass, City of Rocklin
iii | Page Pioneer State Legislative Policy and Platform 2026 Table of Contents
Pioneer Community Energy Governing Board....................................................................ii Pioneer Community Energy Legislative Policy and Objectives ....................................... 1 Pioneer Community Energy Legislative Policy ............................................................... 1 Platform Objectives for 2026............................................................................................ 2 2026 Legislation ..................................................................................................................... 3 2026 Priority Legislation Summary: .......................................................... 3 2026 Highest Priority Active Bills Further Detail..............................................................16 AB 706, Aguiar-Curry (D) - Forest Organic Residue, Energy, and Safety Transformation (FOREST) and Wildfire Prevention Fund Act ........................ 16 SB 1295, Stern (D) - Energy storage systems: procurement....................... 16 AB 1761, Rogers (D) - Electricity: calculation methodology: data disclosure .. 16 AB 2266, Schultz (D) - Electricity: load-serving entities.............................. 17 SB 1138, Padilla (D) - Load-serving entities: resource adequacy requirements17 SB 875, Wiener (D) – Public utilities: eminent domain ............................... 18 AB 1774, Boerner (D) – Electrical corporations: wildfire mitigation plans:
expenditures ....................................................................................... 18 AB 2493, Petrie-Norris (D) – Electrical corporations: interconnection:
transmission: permitting: auditor ........................................................... 19 AB 1666, Rogers (D) - Forest management: biomass innovation parks ......... 19 2025 Legislation in Review ..................................................................................................21 Spot Bills.................................................................................................................................23 Legislative Representatives .................................................................................................24 Current Service Territory....................................................................... 24 Future Service Territory ........................................................................ 25 Appendix A: 2026 Legislative Session Calendar ..............................................................26 1 | Page Pioneer State Legislative Policy and Platform 2026 Pioneer Community Energy Legislative Policy and Objectives The purpose of this policy and its objectives is to provide guidance and direction for Pioneer staff, to allow them to respond in a timely and nimble manner, as many changes will occur in a dynamic legislative environment. Bills will be added and deleted as the legislative session continues, and Pioneer’s positions may change based on possible amendments to the bills.

Pioneer Community Energy Legislative Policy
Pioneer Community Energy supports legislation that enables, protects, and enhances Pioneer’s priorities and ability to serve its customers as determined by the Governing Board of Pioneer Community Energy.

Pioneer’s priorities are:
• To maintain local control for the purpose of preserving the ability to self-procure its power resources, and to self-determine its rates and the energy programs it offers to its residents, businesses, and the communities it serves, through the mechanisms of local governance
• To provide lower and more stable rates for its customers • To provide local economic and resiliency benefits to its customers and the communities it serves
• To have maximum flexibility to utilize and develop local resources for economic, social, and environmental benefit
Pioneer will support legislation which enables, protects, and enhances the development and expansion of Community Choice Aggregation (CCA) programs, and that supports CCA independence in procurement, program deployment, management, and decision making.

Pioneer will support legislation which promotes a neutral, fair, and competitive energy market. Pioneer will oppose legislation that jeopardizes Pioneer’s independence to self-procure its power resources, determine its rates and the energy programs it provides to its customers in the present, or could restrict its independence to do so in the future.
2 | Page Pioneer State Legislative Policy and Platform 2026 Platform Objectives for 2026
• Protect and enhance local control and ability to self-govern, self-procure power resources, determine rates and energy programs
• Ensure CCA inclusion in market opportunities and programs • Prevent development of new, or increased non-bypassable charges from legislative mandates or policy direction, or other costs to Pioneer or its customers that do not provide commensurate benefit, and to phase out or eliminate existing non-bypassable charges that do not provide commensurate benefit
• Protect and enhance procurement independence and local control of CCA governing boards
• Protect and enhance independence to administer energy efficiency, integrated distributed energy resources, and to receive renewable energy credits and other benefits from the administration of such programs • Protect and enhance the ability to develop local renewable generation from local sources including but not limited to biomass, waste-to-energy, and bio-methane generation resources • Reform IOU procurement practices to minimize stranded load and mitigate non-bypassable charges to CCA customers
• Protect, support, and participate in the development of energy policy that is balanced, inclusive, and fair for all load serving entities and the customers they serve
• Pursue administrative and legislative initiatives that support the expansion of a regional grid that improves reliability, improves transmission planning, and reduces costs for ratepayers and load serving entities
• Support any forthcoming bill that extends the operations of the Diablo Canyon Power Plant, so long as any such bill would not unfairly disadvantage unbundled customers relative to bundled customers
3 | Page Pioneer State Legislative Policy and Platform 2026 2026 Legislation
The following bills have been identified to be of interest or potential interest to Pioneer Community Energy. Each bill has been designated a Priority of High, Medium, or Low and a Position of Support, Oppose or Watch, and sometimes denoting, Oppose Unless Amended.

Support: Pioneer will support in various ways that may include co-sponsorship, writing letters of support, lobbying other market participants to support, support through California Community Choice Association (CalCCA), requesting Member Agencies to offer their support, etc.

Watch: Pioneer will monitor and continue to watch, offer support, or oppose depending on new information or modifications to the bill that may arise. 2026 Priority Legislation Summary:

Active Bills to Support or Oppose:

Bill Author Description Status Priority/
Position
AB 706 –
Forest Organic
Residue,
Energy, and
Safety
Transformation
and Wildfire
Prevention
Fund Act
Aguiar-CurryThis bill would establish the fire fuel
reduction program to support sufficient
procurement, transport, and beneficial use
of forest biomass waste to reduce fuel for
wildfires by up to 15,000,000 bone-dry
tons of forest biomass waste per year. The
bill would establish the FOREST and
Wildfire Prevention Fund in the State
Treasury and would continuously
appropriate the fund to the Natural
Resources Agency or this program, as
specified. By continuously appropriating
money in the fund to the agency, the bill
would make an appropriation. The bill
would require the fire fuel reduction
program to grant funding priority to
BioRAM and BioMAT fleets in operation on
or before January 1, 2031.

Senate
Natural
Resource and
Water
High;
Support
SB 1295 –
Energy storage
systems:
procurement
Stern This bill would require the commission, in
addition to the requirements described
above, on or before January 1, 2030, to
consider procurement strategies for the
installation of a statewide total of up to
40,000 megawatts of energy storage
systems. As part of the procurement
Senate
Energy,
Utilities, &
Comms.

High;
Oppose
4 | Page Pioneer State Legislative Policy and Platform 2026 strategies considered by the commission,
the bill would require the commission to
consider appropriate targets, if any, for
load-serving entities to procure viable and
cost-effective energy storage systems, to
be achieved on or before December 31,
2040. If the commission imposes an
energy storage system procurement target
on load-serving entities, the bill would
authorize each load-serving entity to meet
up to 50% of its procurement target
through energy storage systems that it
owns, that are interconnected at the
transmission or distribution level, or that
are located on the customer side of the
meter, as specified. The bill would require
the commission to reconsider procurement
strategies and appropriate targets not less
than once every 3 years.

AB 1761 -
Electricity:
calculation
methodology:
data disclosure
Rogers This bill would require the commission to
ensure that all data relied on in serving as
a basis for any decision or ruling, ruling
issued by the commission, or in any
proposal or analysis provided by
commission staff, for the determination or
application of a calculation methodology
for any charge imposed on customers of a
load-serving entity to recover costs
associated with contracts, electrical
corporation-owned generation, or any
other resource or value included in that
charge and any other charge derived from
those costs, is made available to load-serving entities and ratepayer advocates on behalf of customers. The bill would
require the commission to require an
electrical corporation or other party, in
submitting a proposal or analysis for the
determination or application of a
calculation methodology for any charge
imposed on customers of a load-serving
entity to recover costs associated with
contracts, electrical corporation-owned
generation, or any other resource or value
included in that charge and any other
charge derived from those costs, to make
all data serving as a basis for that proposal
or analysis available to load-serving
entities and ratepayer advocates on behalf
Assembly
Appropriations
High;
Support
5 | Page Pioneer State Legislative Policy and Platform 2026 of customers. The bill would require that
data to meet specified requirements,
including that it is made through a public
disclosure, except for market-sensitive
data, as provided.

AB 2266 –
Electricity:
load-serving
entities
Schultz This bill would require the commission, on
and after January 1, 2030, when setting
certain resource adequacy and resource
procurement obligations for load-serving
entities, to use the same capacity
valuation method, as defined, to assess
the reliability contribution of each resource
type, as specified. The bill would require
the commission, on or before January 1,
2030, to initiate a process to consolidate
certain compliance reporting for load-serving entities for programs established pursuant to Sections 380 (RA), 399.15
(RPS), and 454.52 (IRP), into a single
compliance reporting process. Any
compliance reporting requirements or
template issued by the commission to
ensure compliance with Sections 380,
399.15, and 454.52 shall be finalized for a
minimum of 20 calendar days before a
compliance report submission by a load-serving entity.

Assembly
Utilities &
Energy
High;
Support
SB 1138 –
Load-serving
entities:
resource
adequacy
requirements
Padilla This bill would require the commission to
permit a load-serving entity to
demonstrate compliance with resource
adequacy requirements by selling to, or
otherwise making transactions with,
another load-serving entity to meet not
more than 25% of its compliance
obligation, on a short-term basis, and to
permit those transactions to be
denominated in the same unit of time used
to denominate resource adequacy
compliance requirements.

Senate
Energy,
Utilities, &
Comms.

High;
Support
SB 875 –
Public utilities:
eminent
domain
Wiener This bill would specify that if property that
has been appropriated to a public use is
electrical, gas, or water public utility
property that a public entity within the
Pacific Gas and Electric Company service
area intends to put to the same use, the
presumption of a more necessary use is
conclusive and not rebuttable. The bill
would specify that the above-described
Senate
Judiciary
High;
Support
6 | Page Pioneer State Legislative Policy and Platform 2026 litigation expenses provisions do not apply
to those proceedings. This bill would
provide that, if a taking is by a local public
entity within the Pacific Gas and Electric
Company service area and the property is
electrical, gas, or water public utility
property, and the local public entity
intends to put the property to the same
use, the resolution of necessity instead
creates a conclusive and not rebuttable
presumption that those matters are true.

This bill would require the commission, in
its review of a voluntary or involuntary
change in ownership of assets from an
electrical or gas corporation to a public
entity within the Pacific Gas and Electric
Company service area, to limit its review
to determining whether the transaction is
fair and reasonable to affected public
utility employees.

Active Bills to Watch:

Bill Author Description Status Priority;
Position
AB 1774 –
Electrical
corporations:
wildfire
mitigation
plans:
expenditures
Boerner This bill would require the commission,
before an electrical corporation is
authorized to recover, collect, or expend
ratepayer funds for new or ongoing wildfire
mitigation programs, to require an
independent audit of the electrical
corporation’s wildfire mitigation
expenditures incurred during the preceding
5 calendar years. The bill would require the
commission to take certain actions,
including disallowing recovery of the
wildfire mitigation expenditures, if the
commission determines that those
expenditures are unreasonable, imprudent,
or improperly incurred.

Assembly
Utilities &
Energy
High;
Watch
AB 2493 –
Electrical
corporations:
interconnection:
transmission:
permitting:
auditor
Petrie-NorrisThis bill would, within one year following the adoption of each transmission plan
produced by the Independent System
Operator through the transmission
planning process, or a successor process,
and within one year following the
execution of a generator interconnection
agreement, require each large electrical
Assembly
Utilities &
Energy
High;
Watch
7 | Page Pioneer State Legislative Policy and Platform 2026 corporation that is assigned or obligated to
construct a project that requires approval
by the commission to initiate permitting for
the project by filing an application or other
notice, as applicable, pursuant to a specific
general order. The bill would authorize a
large electrical corporation to request an
extension of the filing deadline by
demonstrating good cause in a written
notice to the commission, as provided. If a
large electrical corporation fails to adhere
to these timelines, or to make a timely
extension request, the bill would require
the commission to take appropriate
enforcement action, as specified. This bill
would require, beginning January 1,
2027, the commission to require
each large electrical corporation, as
defined, to retain an independent third-party auditor to review certain transmission- and interconnection-related
submissions made by the large electrical
corporation’s progress on completing
network upgrades following approval in a
generator interconnection agreement or
transmission plan approved by the
Independent System Operator, and
the large electrical corporation’s
compliance with any remedial actions
ordered by the commission, as specified.

The bill would require the third-party
auditor to report to the commission on an
annual basis, as provided. Within 90 days
of receiving the auditor’s report, the bill
would require the commission to issue a
resolution directing a large electrical
corporation to take remedial
actions necessary to address any and
all deficiencies identified by the auditor, as
specified.

AB 1666 –
Forest
Management:
biomass
innovation
parks
Rogers This bill would enact the Biomass
Innovation Parks Act, which would
establish the Biomass Innovation Park
Grants and Financing Program, to be
administered by the agency. The bill would
require the agency, in coordination with
the Department of Food and Agriculture, to
identify one or more biomass innovation
parks. The bill would require the agency to
Assembly
Natural
Resources
High;
Watch
8 | Page Pioneer State Legislative Policy and Platform 2026 develop guidelines and facilitate a planning
process for the purpose of identifying the
parks and guidelines for purposes of
soliciting proposals from an eligible
applicant, as defined, as provided. The bill
would require the guidelines to include
specified things, including, among other
things, that each park shall only process
wood waste, as defined, that originated in
California, that each park only host
projects that use a non-combustion
technology to convert wood waste into
carbon-beneficial products or end uses,
and that each park establish a community
benefits program.

AB 1893 –
Wildfire
prevention:
local assistance
grant program:
eligible
activities
Gallagher This bill would expand eligible activities
under the local assistance grant program
to include projects undertaken by a local
governmental entity involving the
acquisition or installation of mobile rigid
dip tanks or similar mobile and permanent
infrastructure that is capable of providing
helicopter-accessible water supplies for
firefighting response or suppression
purposes in very high fire and high fire
hazard severity zones, as provided.

Assembly
Emergency
Management
Moderate;
Support
AB 2700 –
Electricity: rate
reduction:
report
Gallagher This bill would require the commission to
generate a report outlining
recommendations to decrease the kilowatt-per-hour rate for electricity charged to ratepayers by not less than 30% by
January 1, 2028. The bill would require the
commission, in making those rate-reduction recommendations, to take certain actions, including to review, and
evaluate the cost effectiveness of certain
public purposes programs and to audit
electrical corporation wildfire mitigation
plan costs, as specified. The bill would
require the commission to also include in
its report an assessment of verified
restitution shortfalls for victims of wildfires
caused by electrical corporations occurring
before July 12, 2019. The bill would further
require the commission to recommend
mechanisms for electrical corporations to
address those shortfalls, as provided.

Assembly
Utilities &
Energy
Moderate;
Support
9 | Page Pioneer State Legislative Policy and Platform 2026 AB 2037 –
Wildfire
Mitigation Aging
and Disability
Grant
Patterson This bill would establish the Wildfire
Mitigation Aging and Disability Grant
Program to be administered by the
California Department of Aging. Upon an
appropriation by the Legislature for these
purposes, this bill would award grants,
based on specified criteria, to seniors and
individuals with disabilities to mitigate
against wildfires on properties they own
that they would not otherwise be able to
protect with existing resources. The bill
would require the department to award
grants on a competitive basis and would
require applications to contain specified
information, including proof of need. The
bill would also authorize the grant funding
to be used towards the costs associated
with hiring contractors or other qualified
service providers to perform wildfire
mitigation activities.

Assembly
Aging & Long-Term Care
Moderate;
Support
SB 919 –
Biomethane
projects:
investment
costs
Grayson This bill would require the commission to
extend the biomethane monetary incentive
program until December 31, 2030. The bill
would authorize the commission to
authorize additional funding for the
program using the revenues, including any
accrued interest, received by a gas
corporation as a result of the direct
allocation of greenhouse gas allowances
provided to gas corporations as part of the
above-described market-based compliance
mechanism. The bill would also require the
commission to allow recovery in rates of
the costs of gas corporation investments in
interconnection costs for biomethane
projects, subject to certain limitations.

Senate
Energy,
Utilities, &
Comms.

Moderate;
Watch
SB 886 –
CA Tech
Innovation and
Ratepayer
Protection Act
Padilla This bill, the California Technology
Innovation and Ratepayer Protection Act,
would require the commission, on or
before July 1, 2027, to establish a rate
structure that includes an electrical
corporation tariff for the interconnection of
the participating customer facilities and the
provision of transmission, distribution, and
generation services to participating
customers, as specified. The bill would also
require that the electrical corporation
tariff, among other things, assign cost
Senate
Appropriations
Moderate;
Watch
10 | Page Pioneer State Legislative Policy and Platform 2026 responsibility for all transmission facility
upgrades triggered by a new facility
interconnection to the applicable
participating customer and require an early
termination fee to be assessed against a
participating customer under specified
circumstances. The bill would require a
participating customer to prefund a
contract of at least 15 years in duration
through the electrical corporation,
community choice aggregator, or electric
service provider for the installation of new,
incremental, zero-carbon energy
resources, and to participate in a new
demand response program authorized by
the commission, as provided.

SB 978 –
Data centers:
labor:
electricity rates
Perez This bill would require the Public Utilities
Commission to establish a special rate
structure for data centers, as defined,
taking transmission level electrical service
with an estimated peak demand of at least
75 megawatts of electricity to, among
other things, protect other customers of
electrical corporations, prohibit cost shifts
to those other customers, and require data
centers to pay for the electrical
corporations’ upfront costs of transmission
or distribution infrastructure upgrades
necessary for the provision of electrical
service to the data centers. The bill would
require the construction of data centers
subject to the special rate structure to
comply with certain labor requirements.

Senate Labor,
Public
Employment,
and
Retirement
Moderate;
Watch
AB 1787 –
Electrical
corporations:
rates: optional
dynamic rate
tariff
Schultz This bill would require the Public Utilities
Commission to require a large electrical
corporation, if the commission approves
the large electrical corporation’s request to
upgrade its smart meter infrastructure and
related information management and
billing systems relative to infrastructure in
place on January 1, 2026, to offer all its
customers at least one optional dynamic
rate tariff no later than when the upgraded
smart meter infrastructure is anticipated to
be placed into service, as specified. The bill
would require the commission to ensure, in
reviewing a request of a large electrical
corporation to recover costs associated
Assembly
Appropriations
Moderate;
Watch
11 | Page Pioneer State Legislative Policy and Platform 2026 with upgrading its smart meter
infrastructure and related information
management and billing systems, that
specified conditions are met. The bill would
require the commission to ensure, among
other things, the large electrical
corporation makes the same time-varying
distribution rates available to both bundled
customers and unbundled customers
located in the same geographic area, as
specified.

AB 2111 –
Electricity:
transmission
planning and
transmission
facilities
Papan On December 23, 2022, the Public Utilities
Commission, the Energy Commission, and
the Independent System Operator entered
into a memorandum of understanding
related to resource and transmission
planning, transmission development and
permitting, procurement, and
interconnections to achieve reliability and
policy needs and to coordinate the timely
development of resources, resource
interconnections, and needed transmission
infrastructure. Existing law requires the
Energy Commission and the PUC, in
coordination with the ISO, every 5 years,
to review the memorandum of
understanding and a related workplan to
ensure the memorandum and workplan
reflect the coordination that is needed to
help meet the state’s energy goals. This
bill would require those entities, on or
before January 1, 2028, to incorporate into
an update of the memorandum and
workplan any revisions as may be
necessary to, among other things, ensure
that the memorandum and workplan
reflect the requirements of Federal Energy
Regulatory Commission Order 1920-A,
which deals with long-term, scenario-based regional transmission planning.

Assembly
Utilities &
Energy
Moderate;
Watch
AB 2239 –
Infrastructure-constrained
energization
areas:
energization
timelines:

Carrillo This bill would require the Public Utilities
Commission (PUC) to require each
electrical corporation to meet energization
timelines or targets established pursuant
to the above-described provisions or by
PUC order. The bill would require the PUC
to impose a penalty if an electrical
corporation fails to meet an energization
Assembly
Utilities &
Energy
Moderate;
Watch
12 | Page Pioneer State Legislative Policy and Platform 2026 environmental
review
timeline or target approved or required by
the PUC, as provided. This bill would
require the PUC to designate an
infrastructure-constrained energization
area based on objective criteria, including
limited distribution or transmission
infrastructure relative to available electrical
capacity or projected load growth, inland
or desert geography, and extended
energization timelines. The bill would
require the PUC to adopt rules authorizing
over-the-fence transactions within
infrastructure-constrained energization
areas when an electrical corporation
cannot reasonably meet energization
targets and other specific conditions are
met, as specified. The bill would require
the PUC, in coordination with the State
Energy Resources Conservation and
Development Commission (Energy
Commission) and local jurisdictions, to
establish procedures to facilitate expedited
development of electrical generation and
energy storage facilities in infrastructure-constrained energization areas, as specified.

AB 2383 –
Electricity:
large energy
use facilities
Zbur This bill would require the commission, on
or before January 1, 2028, in a new or
existing proceeding, to provide for a
classification of retail electricity consumers
that are large energy use facilities, as
defined, that is separate and distinct from
classifications of service for other
commercial or industrial retail electricity
consumers and has its own rate schedule.

The bill would require any rate schedule
adopted by the commission for large
energy use facilities to meet specified
requirements, and would require the
commission, in deciding whether to
approve an electrical corporation’s
proposed rate schedule, to ensure the
rates meet certain requirements, as
provided. The bill would specify that, until
January 1, 2028, an electrical corporation
and a large energy use facility are not
required to use the above-described
classification of service if the commission
has not approved the electrical
Assembly
Utilities &
Energy
Moderate;
Watch
13 | Page Pioneer State Legislative Policy and Platform 2026 corporation’s rate schedule for that
classification of service.

AB 2494 –
State forests:
forest
management
Rogers This bill would redefine “management” for
purposes of state forests as the handling of
forest vegetation and soils within state
forests for biodiversity conservation and
wildfire resilience, while supporting durable
onsite carbon storage and sequestration,
climate resiliency goals, equitable forest
access, wildlife and fish habitat, recreation
opportunities, and compatible research
efforts. The bill would specify that timber
harvesting consistent with this definition is
permissible.

Assembly
Appropriations
Moderate;
Watch
AB 2508 –
Public Utilities
Public Purpose
Programs Fund
Hoover This bill would establish the Public Utilities
Public Purpose Programs Fund. The bill
would require the commission, no later
than January 1 of each year, commencing
January 1, 2027, to determine and publish
the amount necessary to fund certain
public purpose programs and programs
administered by electrical regional energy
networks for the following fiscal year, as
provided. The bill would require the
Controller to transfer, on July 1 of each
fiscal year, from the Greenhouse Gas
Reduction Fund to the Public Utilities Public
Purpose Programs Fund moneys
appropriated by the Legislature for that
purpose. The bill would require all moneys
in the Public Utilities Public Purpose
Programs Fund to be allocated by the
commission, upon appropriation by the
Legislature, to fund the public purpose
programs and programs administered by
electrical regional energy networks, as
provided.

Assembly
Utilities &
Energy
Moderate;
Watch
AB 643 –
Climate
change: short-lived climate
pollutants:
organic waste
reduction
Wilson This bill would authorize a local jurisdiction
to include organic material used as a
beneficial agricultural amendment towards
its recovered organic waste procurement
target if the material is processed at a
facility authorized by the department using
specified approved technologies, the
material is licensed for end use as an
agricultural fertilizer by the Department of
Food and Agriculture, as provided, and the
material is not derived from, or processed
Senate Rules Moderate;
Watch
14 | Page Pioneer State Legislative Policy and Platform 2026 using, specified activities relating to the
final deposition or management of solid
waste, as provided.

AB 1699 –
Good Fire Act:

Prescribed Fire
Liability Pilot
Program: burn
bosses:

California
Environmental
Quality Act
Rogers By Executive Order N-35-25, Governor
Gavin Newsom suspended the limitation on
public and governmental agencies enrolling
in the Prescribed Fire Liability Pilot
Program to the extent that the limitation
would prohibit resource conservation
districts and volunteer fire departments or
districts from such enrollment. This bill
would establish the Good Fire Act, which
would indefinitely extend the Prescribed
Fire Liability Program.

Assembly
Emergency
Management
Moderate;
Watch
AB 2369 –
Electricity:
resource
adequacy
requirements:
transmission
facility planning
Rogers This bill would require that the resource
adequacy program also achieve the
objectives of recognizing a reliability
contribution for energy-only resources that
reflects the value of those resources in
supporting grid reliability, maximizing the
timely development and interconnection of
certain energy resources, and promoting
increased use of electrical grid
infrastructure, as provided.

Assembly
Utilities &
Energy
Moderate;
Watch
SB 1097 –
California
Environmental
Quality Act:
electrical
distribution:
clean energy:
exemptions:
standard of
review
Wiener This bill would exempt projects from CEQA
that consist of the inspection,
maintenance, repair, restoration,
reconditioning, reconductoring with
advanced conductors, replacement, or
removal of a transmission wire or cable
used to conduct electricity or other piece of
equipment that is directly attached to the
wire or cable and that meet certain
requirements. This bill would, for a project
to construct (1) a solar photovoltaic or
terrestrial wind electrical generating
powerplant, (2) an energy storage system,
(3) a stationary electrical generating
powerplant using any source of thermal
energy, as provided, or (4) specified
overhead electrical transmission lines,
establish a modified approval process for a
lead agency to follow when approving
those projects, as provided.

Senate Rules Moderate;
Watch
AB 1975 –
Electrical
corporations:

Schultz This bill would require the commission, on
or before December 31, 2027, to establish
a grid utilization metric that calculates
Assembly
Utilities &
Energy
Moderate;
Watch
15 | Page Pioneer State Legislative Policy and Platform 2026 grid utilization
metric
electrical load as a percentage of rated
capacity, as specified. The bill would
require each large electrical corporation,
each calendar quarter, to submit a publicly
available report to the commission with the
results of the large electrical corporation’s
grid utilization metric calculations, as
specified. The bill would require the
commission to annually establish a
minimum value for the grid utilization
metric within each large electrical
corporation’s distribution grid and would
require that the grid utilization metric
minimum value increase annually, as
provided. The bill would require the
commission to establish financial
performance-based incentives or
disincentives correlated with achieving the
grid utilization metric minimum value, as
specified, and would require each large
electrical corporation, on or before July 31,
2028, to propose grid utilization programs
to achieve the grid utilization metric
minimum value, as specified.

AB 2464 –
Energy: firm
zero-carbon
resources
Wicks This bill would require the Energy
Commission, working with the PUC, to
prepare and submit to the Legislature, on
or before January 1, 2028, a statewide
assessment of the role and necessity of
firm zero-carbon resources in meeting the
state’s clean energy and reliability
objectives, potential technologies and
strategies for integrating firm zero-carbon
resources into the state’s energy mix,
recommendations on procurement, policy,
and planning actions to deploy and support
firm zero-carbon resources, and current
and projected renewable and firm zero-carbon generation capacity, reliability requirements under varying system
conditions, and the cost and emission
implications of firm zero-carbon resources.

Assembly
Utilities &
Energy
Moderate;
Watch
16 | Page Pioneer State Legislative Policy and Platform 2026 2026 Highest Priority Active Bills Further Detail
AB 706, Aguiar-Curry (D) - Forest Organic Residue, Energy, and Safety Transformation (FOREST) and Wildfire Prevention Fund Act Impact to Pioneer: Yes
This Pioneer sponsored bill would establish the FOREST and Wildfire Prevention Fund, to promote biomass utilization that contributes to California’s wildfire fuel reduction targets. This fund would be continuously appropriated to the fire fuel reduction procurement program, also established by this bill. The fund and program would promote adequate biomass development and procurement to ensure forest waste generated from fuel reduction efforts can be processed into clean firm energy, instead of being left to decay or managed through open pile burning.

Priority: High
Recommended Action/Position: Support. Pioneer’s service territory in the Sierra Nevada region contains an abundance of forest biomass waste which without proper management, turns into fuel for forest fires. Creating a fund to support the development and procurement of biomass energy would create a market for biomass waste, resulting in lowered wildfire risk through fuel reduction and an increased supply of renewable baseload energy.

AB 1761, Rogers (D) - Electricity: calculation methodology: data disclosure Impact to Pioneer: Yes
This bill would improve the transparency in the process of calculating the power charge indifference adjustment (PCIA), a non-bypassable charge that Community Choice Aggregator (CCA) customers pay to PG&E for the generation resources PG&E procured on their behalf. AB 1761 proposes amending the Public Utilities Code to 17 | Page Pioneer State Legislative Policy and Platform 2026 require the CPUC and IOUs to disclose all data used to calculate PCIA costs, including cost inputs, forecasting assumptions, and methodologies. The bill would also ensure that when parties make proposals in a proceeding to change the PCIA they provide all the underlying data informing that proposal.

Priority: High
Recommended Action/Position: Support. Greater transparency allows CCAs to better advocate for their customers and assess proposals to change the PCIA. It also can inform cost forecasts and shield customers from sudden rate swings. It reduces repeated fights over information, improves regulatory efficiency, and encourages utilities to verify calculations since the underlying data would be open to review. Costs to implement the proposal are miniscule, as most of this information already exists, while the benefits for rate, accuracy, stability, and consumer protection are substantial. This proposal strengthens confidence that customers pay their fair share — and not more.

SB 1138, Padilla (D) - Load-serving entities: resource adequacy requirements
Impact to Pioneer: Yes
This bill would require the Public Utilities Commission to allow load-serving entities to transact their load obligation, under the RA program requirements, with other load-serving entities on an hourly basis. This change would be aligned with the granularity of the RA program’s new slice-of-day (SOD) structure, which requires procurement compliance at the hourly, instead of previously monthly, level.

Priority: High
18 | Page Pioneer State Legislative Policy and Platform 2026 Recommended Action/Position: Support. As a load-serving entity subject to the RA program, Pioneer would benefit from the flexibility of hourly load obligation trading, which has the potential to reduce unnecessary over-procurement and save ratepayers money. By allowing efficient trading of long and short positions on an hourly basis, this proposal will also reduce the over-procurement of RA and lower costs overall.

Priority: High
Recommended Action/Position: Support. In the last decade, the city of San Francisco and other public utilities have been trying to exit PG&E service, but the process has been significantly delayed by lengthy regulatory proceedings at the Commission. Considering Pioneer also operates in PG&E territory, our customers have experienced many of the same issues shared by other localities that have expressed interest in municipalization, including significantly increasing costs and power outages. This bill would open the path to an improved municipalization process for all entities within PG&E territory, should future interest arise in our service territory.

AB 1774, Boerner (D) – Electrical corporations: wildfire mitigation plans:
expenditures
Impact to Pioneer: Yes
This bill would require the Public Utilities Commission, before an electrical corporation is authorized to recover, collect, or expend ratepayer funds for new or ongoing wildfire mitigation programs, to require an audit by an independent third-party of the electrical corporation’s wildfire mitigation expenditures incurred during the preceding 5 calendar years.

Priority: High
Recommended Action/Position: Watch. In recent years, ratepayers have experienced significant increases in their utility bills, largely due to electrical corporations’ increased wildfire mitigation spending. To balance energy affordability and wildfire safety, it is crucial to adopt a more robust process when considering the authorization of wildfire mitigation spending, to ensure ratepayer funds are being used in the most prudent and cost-effective manner. Staff recommends a “Watch” position since the process for this audit has not been flushed out. The bill will continue to be monitored to ensure the audit process will not stall any 19 | Page Pioneer State Legislative Policy and Platform 2026 necessary ongoing wildfire mitigation efforts and maintain public safety as a priority.

AB 2493, Petrie-Norris (D) – Electrical corporations: interconnection:
transmission: permitting: auditor
Impact to Pioneer: Yes
This bill seeks to improve interconnection timelines for transmission-level projects from electrical corporations. The bill would require electrical corporations to initiate permitting for any transmission-related projects within one year following the adoption of a transmission plan produced by the Independent System Operator or the execution of a generator interconnection agreement. The bill would also require, beginning January 1, 2027, the Commission to require each large electrical corporation (corporation), to retain an independent third-party auditor to report on the corporation’s transmission- and interconnection-related submissions, their progress in making network upgrades associated with such submissions, and compliance with any remedial actions ordered by the Commission.

Priority: High
Recommended Action/Position: Watch. The state’s load forecasts show increased load demand over the forthcoming years, which drives the Commission’s procurement mandates. However, interconnection delays are creating issues for load-serving entities such as Pioneer who are required to comply with these procurement mandates, as there are insufficient resources interconnected to the grid to meet the mandates. Accelerating interconnection timelines will increase the pool of resources available to Pioneer to meet our compliance obligations and serve the state’s increasing load demand. Staff recommends a “Watch” position at this time because ideally this bill would include distribution-level interconnection projects, as that could help small-scale bioenergy projects currently under contract with Pioneer with their interconnection timelines. Therefore, this bill will continue to be monitored to see if the author’s office is open to increasing the scope of interconnection projects eligible.

AB 1666, Rogers (D) - Forest management: biomass innovation parks Impact to Pioneer: Yes
This bill would create the Biomass Innovation Park Grants and Financing Program, which would be funded with an unspecified appropriation from the $50,000,000 made available in the Climate Bond (Prop 4) for long-term capital infrastructure to use forest and other vegetative waste removed for wildfire mitigation for noncombustible uses.

Priority: High
Recommended Action/Position: Watch. Pioneer’s service territory is made up of high fire risk communities, who would benefit from additional funding opportunities for biomass development programs that could effectively remove fuel from the forests to reduce wildfire risk and stimulate local economic development. However, since this bill would only make funding eligible for “noncombustible” uses of biomass, many of the typical bioenergy facilities in Pioneer’s service territory would be 20 | Page Pioneer State Legislative Policy and Platform 2026 excluded. Staff recommends a “Watch” position to continue monitoring whether there are applicable uses for this funding in our service territories. 21 | Page Pioneer State Legislative Policy and Platform 2026 2025 Legislation in Review
2025 Bills of Interest Signed by Governor and Chaptered by the Secretary of State
Bill Author Description Status
AB 825 -
Independent
System
Operator:
independent
regional
organization
Petrie-NorrisThe contents of this bill were originally presented in SB 540 (Becker) but were moved over to AB 825 (Petrie-Norris)
after several amendments and negotiations. This bill would provide the California Independent System Operation
(CAISO) with authority to implement the “Pathways
Initiative”, which would allow CAISO to tap into a wider market of electricity sources throughout the broader
Western region. Many studies have shown establishing a
regional energy market stands to provide Californians with significant cost savings, enhanced grid reliability, and reduced air pollution.

Signed by
Governor
2025 Bills of Interest – End of Session Results
Bill Author Description Status
AB 706 -
Forest Organic
Residue,
Energy, and
Safety
Transformation
and Wildfire
Prevention
Fund Act
Aguiar-Curry This bill would establish the FOREST and Wildfire Prevention Fund in the State Treasury, and would
continuously appropriate the fund to the Natural
Resources Agency to reduce organic fuel sources that
increase fire risk by providing funding for the fire fuel reduction procurement program, which the bill would
also establish, to support sufficient biomass
procurement that reduces fuel for wildfires, as
specified. By continuously appropriating money in the
fund to the agency, the bill would make an
appropriation. The bill would require the fire fuel
reduction program to grant procurement priority to
BioRAM, as defined, and BioMAT, as defined, fleets, in
existence on or before January 1, 2026.

Held in Senate
Policy
Committee
AB 66 -
California
Environmental
Quality Act:
exemption:
egress route
projects: fire
safety
Tangipa This bill would, until January 1, 2032, exempt from CEQA egress route projects undertaken by a public
agency to improve emergency access to and
evacuation from a subdivision without a secondary
egress route if the State Board of Forestry and Fire
Protection has recommended the creation of a
secondary access to the subdivision and certain
conditions are met. The bill would require the lead
agency to hold a noticed public meeting to hear and
respond to public comments before determining that a
project is exempt. The bill would require the lead
agency, if it determines that a project is not subject to CEQA and approves or carries out that project, to file a Held in Senate
Policy
Committee
22 | Page Pioneer State Legislative Policy and Platform 2026 notice of exemption with the Office of Land Use and
Climate Innovation and with the clerk of the county in
which the project will be located.

AB 1227 -
Wildfire safety:
fuels reduction
projects
Ellis and
Gallagher
This bill would, on or before January 31, 2026, require the California Environmental Protection Agency and the
Natural Resources Agency to each report to the
Legislature information on the implementation of the
Governor’s proclamation of emergency related to
expediting critical fuels reduction projects. This bill would, until January 1, 2028, exempt from CEQA
critical fuels reduction projects conducted in
communities located in very high fire hazard severity
zones, as provided. The bill would require the lead
agency to hold a noticed public meeting to hear and
respond to public comments before determining that a
project is exempt and would require the lead agency to
provide notice of the public meeting on its internet
website at least 30 days before the public meeting.

The bill would require the lead agency, if it determines that a project is not subject to CEQA and approves or
carries out that project, to file a notice of exemption with the Office of Land Use and Climate Innovation and
with the clerk of the county in which the project will be located.

Held in Senate
Appropriations
committee
SB 88 -
Air resources:
carbon
emissions:
biomass
Caballero This bill would require the state board, on or before January 1, 2028, to publish on its internet website an
assessment of the life-cycle emissions from alternative uses of forest and agricultural biomass residues, as
specified. The bill would require the state board, on or before January 1, 2029, to publish on its internet
website a strategy to support beneficial carbon
removal products, including, but not limited to,
biochar, that are generated from agricultural or forest biomass resources. The bill would require the
Department of Forestry and Fire Protection to require,
to the extent feasible, all state-funded forest health
projects to include an appropriate forest biomass
resource disposal component that includes a
scientifically based, verifiable method to determine the amount of biomass to be physically removed and the
amount to be burned by prescribed burn. The bill
would require the State Energy Resources
Conservation and Development Commission to include
the value proposition of using agricultural and forest
biomass resources for low- and negative-carbon liquid
and gaseous fuels, including hydrogen, from non-combustion conversion technology methods and other emerging and innovative approaches in relevant
reports and other agency-sponsored documentation.

Vetoed by
Governor
23 | Page Pioneer State Legislative Policy and Platform 2026 Spot Bills
There were numerous Spot Bills, not included in this document, in both the Assembly and the Senate. Spot bills make technical, non-substantive changes in the law and function as a placeholder for a later proposal, and they must be amended prior to being heard in a committee. As these bills were amended, the Board was apprised of the potential impact on Pioneer and CCAs, as appropriate. 24 | Page Pioneer State Legislative Policy and Platform 2026 Legislative Representatives
Current Service Territory
Senate:

Megan Dahle – District 1
Capitol Office: 1021 O Street, Room 7230, Sacramento, CA 95814; (916) 651-4001 Redding District Office: 1320 Yuba Street, Suite 102, Redding, CA 96001; (530) 224-7001
Grass Valley District Office: 120 N. Auburn Street, Suite 214, Grass Valley, CA 95945; (530) 271-7412
Chico District Office: 2635 Forest Avenue, Suite 110, Chico, CA 95928; (530) 879- 7424
Marie Alvarado-Gil – District 4
Capitol Office: 1021 O Street, Room 7240, Sacramento, CA 95814; (916) 651-4004 Modesto District Office: 1020 15th Street, Suite 21, Modesto, CA 95354; (209) 576-6001
El Dorado Hills District Office: 4364 Town Center Boulevard, Suite 313, El Dorado Hills, CA 9576; (916) 933-8680
Roger Niello – District 6
Capitol Office: 1021 O Street, Room 7110, Sacramento, CA 95814; (916) 651-4006 Roseville District Office: 2200A Douglas Blvd., Suite 100, Roseville, CA 95661; (916) 772-0571
Rancho Cordova District Office: 2729 Prospect Park Drive, Suite 130, Rancho Cordova, CA 95670; (916) 464-3080
Assembly:

Heather Hadwick – District 1
Capitol Office: 1021 O Street, Suite 5710, Sacramento, CA 95814 (916) 319-2001
Jackson District Office: 810 Court Street, 2nd Floor, Jackson, CA 95642; (530) 265-0601
Redding District Office: 930 Executive Way, Suite 201, Redding, CA 96002; (530) 223-6300
Joe Patterson – District 5
Capitol Office: 1021 O Street, Suite 4530, Sacramento, CA 95814 (916) 319-2005
Rocklin District Office: 6030 West Oaks Boulevard, Suite 145 Rocklin, CA 95765; (916) 435-0501
25 | Page Pioneer State Legislative Policy and Platform 2026 Future Service Territory
Assembly:

James Gallagher – District 3
Capitol Office: 1021 O Street, Suite 4740, Sacramento, CA 95814; (916) 319- 2001
Main Chico District Office: 2060 Talbert Drive, Suite 110, Chico, CA 95928; (530) 895-4217
Satellite Yub City District Office: 1130 Civic Center Boulevard, Yuba City, CA 95993, (530) 671-0303
David Tangipa – District 8
Capitol Office: 1021 O Street, Suite 4310, Sacramento, CA 95814; (916) 319- 2005
Fresno District Office: 6245 N. Fresno Street, Suite 106, Fresno, CA 93710; (559) 446-2029
26 | Page Pioneer State Legislative Policy and Platform 2026 Appendix A: 2026 Legislative Session Calendar
January Deadlines:

Jan. 1 Statutes take effect
Jan. 5 Legislature reconvenes
Jan. 10 Budget must be submitted by Governor
Jan. 16 Last day for policy committees to hear and report to fiscal committees fiscal bills introduced in their house in the odd-numbered (first) year Jan. 23 Last day for any committee to hear and report to the Floor bills introduced in that house in the odd-numbered (first) year Last day to submit bill requests to the Office of Legislative Counsel
Jan. 31 Last day for each house to pass bills introduced in that house in the odd-numbered (first) year
February Deadlines:

Feb. 20 Last Day for bills to be introduced
March Deadlines:

Mar. 26 Spring Recess begins upon adjournment
April Deadlines:

Apr. 6 Legislature reconvenes from Spring Recess
Apr. 24 Last day for policy committees to hear and report to fiscal committees’ fiscal bills introduced in their house
May Deadlines:

May 1 Last Day for policy committees to meet and report to the floor non-fiscal bills introduced in their house
May 8 Last day for policy committees to meet prior to June 1 May 15 Last day for fiscal committees to meet prior to June 1 Last day for fiscal committees to meet and report to the floor bills introduced in their house
27 | Page Pioneer State Legislative Policy and Platform 2026 May 26-29 Floor session only. No committee may meet for any purpose except for Rules Committee, bills referred pursuant to A.R. 77.2, and Conference Committees
May 29 Last day for each house to pass bills introduced in that house June Deadlines:

June 1 Committee meetings may resume
June 15 Budget Bill must be passed by midnight
June 25 Last day for a legislative measure to qualify for the Nov. 3 General Election ballot
July Deadlines:

July 2 Last day for policy committees to meet and report bills Summer Recess begins on adjournment, provided Budget Bill has been passed
August Deadlines:

Aug. 3 Legislature reconvenes from Summer Recess
Aug. 14 Last day for fiscal committees to hear and report bills to the Floor
Aug. 17-31 Floor session only—no committee may meet for any purpose, except Rules Committee, bills referred pursuant to Assembly Rule 77.2, and Conference Committees
Aug. 21 Last day to amend bills on floor
Aug. 31 Last day for each house to pass bills
Final Recess begins upon adjournment
Important Dates Occurring During Final Recess:
2026
Sep. 30 Last day for Governor to sign or veto bills passed by the Legislature on or before Sep. 1 and in the Governor's possession on or after Sep. 1
Nov. 3 General Election
Nov. 30 Adjournment at midnight
Dec. 7 12 Noon convening of the 2027-2028 Regular Session 2027
Jan. 1 Statutes take effect

Page 1 of 2 ends

Staff Report – Item 4
To: The Governing Board
From: Brad Koehn, Director of Finance and Administration Item 4: Adopt Resolution Approving a Power Cost Indifference Adjustment (PCIA) Offset Credit for Large Load Customers from April 2026 through December 2026 Date: 4/16/2026

RECOMMENDATION
Adopt Resolution Approving a Power Cost Indifference Adjustment (PCIA) Offset Credit for Large Load Customers from April 2026 through December 2026.

AUDIT & FINANCE COMMITTEE RECOMMENDATION
On April 6, 2026, Audit & Finance Committee, the committee received a presentation from staff. The Committee voted unanimously in support of presenting the recommendation to the Governing Board.

BACKGROUND
Pioneer has reduced its generation rate for three consecutive years including a 16% decrease in March 2026.

Through December 2025, Pioneer has saved its customers $145 million compared to PG&E’s bundled service.

However, the Power Cost Indifference Adjustment (PCIA) that PG&E collects from Pioneer’s customers was increased to unprecedented levels for calendar year 2026. The cost of the PCIA has created a competitive challenge for Pioneer. The high PCIA creates a risk for Pioneer by a potential loss of load disappearing if large load customers leave Pioneer service. Such a large load loss would leave Pioneer with purchased power being abandoned without the corresponding revenue and thereby putting additional cost burden on remaining Pioneer customers.

ANALYSIS & DISCUSSION
After receiving an inquiry from a large load customer regarding the cost and impact of the high PCIA, Pioneer developed a PCIA Offset Credit concept that would mitigate the PCIA impact and encourage large load customers to retain Pioneer’s service.

The credit would be limited to those customers that had 2025 usage that exceeded 7 million kWh and would apply for the usage period of April 2026 through December 2026 (i.e. statements May 2026 to January 2027).

For ease of administration, the credit would be applied to a specific billing statement rather than multiple accounts for one customer. The PCIA offset credit would be calculated on the following rates: B-1; B-19-S; B-20-P; B-20-S; B-20-T; and S-B-T.

Pioneer’s top 10 customers reflect about 7% of Pioneer’s load. If those customers departed Pioneer, it would leave Pioneer with abandoned power costs and reduced revenue that would further impact Pioneer’s existing customer base. Retaining these large customers not only reinforces Pioneer as a community partner but also recognizes the importance of supporting the positive workforce generation impact of those businesses through competitive rates.

STRATEGIC PLAN
Providing a PCIA offset credit for large customers is consistent with Pioneer’s strategic goals to “Be a Community Partner,” and to “Provide an Exceptional Customer Experience.” Plf)NEER

COMMUNITY ENERGY
Agenda Item: 4 Agenda Date: 4/16/2026

Page 2 of 2 ends

FISCAL IMPACT
Applying PCIA offset credits for large customers for the period April through December 2026 is estimated to be approximately $3.75 million. The credit would result in Pioneer’s rate, inclusive of the PCIA cost, to range from a 2% discount compared to PG&E to, at minimum, being at par with PG&E’s cost for those particular rate classes.

This would be recognized as a reduction of revenue rather than a budgeted expense.

ATTACHMENTS

1. Resolution Approving a Power Cost Indifference Adjustment (PCIA) Offset Credit for Large Load Customers from April 2026 through December 2026
441438.2
Before the Governing Board of
Pioneer Community Energy
Resolution No.: ____________
The following Resolution was duly passed by the Governing Board of Pioneer Community Energy at a regular meeting held April 16, 2026, by the following vote on roll call:

Ayes:

Noes:

Absent:

Signed and approved by me after its passage.
______________________________
Chair of the Governing Board
Attest:
_______________________
Secretary
WHEREAS, Pioneer Community Energy (“Pioneer”) was formed for the purpose of providing local control of energy resources, to provide competitive and stable rates, and to provide programs to foster economic development, energy efficiency, and resource conservation; and WHEREAS, Pioneer has the authority to aggregate electric load to purchase and supply electricity for customers within its jurisdiction; and
WHEREAS, Pioneer has provided electric generation service to its customers since initiating service on February 1, 2018; and
WHEREAS, Pioneer’s 10 large load customers represent about 7 percent of Pioneer’s energy load; and
WHEREAS, if those customers left Pioneer’s service, Pioneer would have existing contracted power cost abandoned and also lose the customer’s revenue; and WHEREAS, a loss of large load and the resulting abandoned power cost would further burden remaining customers with additional costs; and
WHEREAS, the Governing Board approved reduction in generation rates of approximately 16 percent that was effective March 1, 2026; and
WHEREAS, PCIA costs charged by PG&E to Pioneer’s customers have increased exponentially and are a competitive challenge; and
In the matter of: APPROVE A POWER COST

INDIFFERENCE ADJUSTMENT (PCIA) OFFSET

CREDIT FOR LARGE LOAD CUSTOMERS FROM
APRIL 2026 THROUGH DECEMBER 2026
Resolution No. ___
April 16, 2026
441438.2
WHEREAS, the current PCIA cost structure is for calendar year 2026; and WHEREAS, it is advantageous for Pioneer to provide a PCIA offset credit for large load customers for usage between April and December 2026; and
WHEREAS, each of the top 10 customers had calendar year 2025 kWh usage exceeding 7,000,000 kWh; and
WHEREAS, the top 10 customers have various vintages and rate class accounts; and WHEREAS, the PCIA offset credit will be calculated considering the customer’s vintage, rate classes of B-1, B-19-S. B-20-P, B-20-S, B-20-T, and S-B-T; and WHEREAS, extending the PCIA offset credit to more customers, and more rate classes would be detrimental to Pioneer’s Balance Sheet.

BE IT RESOLVED, the Governing Board of Pioneer Community Energy, State of California, hereby finds, declares, and resolves as follows:

1. The above recitals are true and correct.

2. The Chief Executive Officer is hereby authorized to provide a PCIA offset credit for customers that exceeded 7,000,000 kWh in calendar year 2025 for energy usage from April 2026 to December 2026; provided, the Chief Executive Officer shall not fund this credit by raising rates on other customers above the proportionate cost to serve them (“PCIA Offset Credit”).

3. The PCIA Offset Credit authorized will vary depending on a customer’s vintage and rate class.

4. The PCIA Offset Credit will apply to the following rate classes: B-1, B-19-S, B-20- P, B-20-S, B-20-T, and S-B-T.

5. The 2026 Electric Generation Rates:
a. do not exceed the actual or estimated reasonable costs to Pioneer of providing the services to which the fees relate;
b. are reasonable and necessary to enable Pioneer to provide the benefit or privilege, service or product to which they relate; and c. have been allocated in a manner such that the costs to the payor bear a fair and reasonable relationship to the payor’s burden on, or benefits received, from Pioneer.

6. The Governing Board finds and determines that this resolution is not subject to the California Environmental Quality Act (“CEQA”) and, therefore, an environmental review is not required pursuant to section 21080, subdivision (b)(8) of the Public Resources Code and sections 15273(a) and 15061(b)(3) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3 because CEQA does not apply to the establishment, modification, restructuring, or approval of rates and other charges by public agencies for purposes such as those set forth herein.

7. This Resolution shall take effect immediately upon its adoption.

Page 1 of 2 ends

Staff Report – Item 5
To: The Governing Board
From: Kristoffer Antigua, Power Supply Contracts Manager Item 5: Bioenergy Market Adjusting Tariff Projects Update Date: 4/16/2026

RECOMMENDATION
Receive an update from Pioneer Community Energy (Pioneer) staff regarding projects approved for the Bioenergy Market Adjusting Tariff (BioMAT).

BACKGROUND
In December 2015, the California Public Utilities Commission (CPUC) established BioMAT in response to Senate Bill (SB) 1122 directing large investor-owned utilities (IOUs) to collectively procure 250 megawatts of renewable energy from small-scale bioenergy projects. Although BioMAT was originally limited to California’s three large IOUs, Pioneer led the passage of Assembly Bill (AB) 843 in 2021 that allowed Community Choice Aggregators (CCAs) to also participate in BioMAT. The CPUC took over two years to implement AB 843, which left Pioneer less than a year and a half to participate in the program.

The purpose of BioMAT is to allow for diversification of California’s renewable energy portfolio while addressing critical environmental challenges such as wildfires. BioMAT has three distinct categories: Category 1 (biogas), Category 2 (dairy and agricultural waste), and Category 3 (sustainable forest management). Category 3 directly reduces wildfire risk by utilizing forest biomass as fuel for the power plants. Through long-term, fixed price contracts, developers can proceed with building power plants with financial certainty and the offtakers (including CCAs) can submit their above-market contract costs to the CPUC for BioMAT cost recovery. BioMAT had a sunset date of December 31, 2025, meaning any BioMAT application received after December 31, 2025, would not be considered.

This meant that Pioneer had less than a year and half to identify projects, resolve issues with the CPUC, investor-owned utilities, and BioMAT vendors, work with developers and City/County staff, and accomplish many other things to get projects approved and in the queue before the December 31, 2025, deadline. In the fall of 2025, Pioneer worked directly with the project developers and began receiving BioMAT applications, also known as Program Participation Requests (PPRs), from them.

ANALYSIS & DISCUSSION
Pioneer received a total of six PPRs and deemed them complete before the sunset date of December 31, 2025.

As shown in Table 1 below the PPRs consisted of five projects submitted by West Biofuels, and one project submitted by Phoenix Energy. West Biofuels submitted four Category 3 projects and one Category 2 project.

Phoenix Energy submitted one Category 3 project. The West Biofuels projects are in Grass Valley, Mariposa, Marysville, Quincy, and Biggs, and the Phoenix Energy project is in Arnold.

Plf)NEER

COMMUNITY ENERGY
Agenda Item: 5 Agenda Date: 4/16/2026

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Table 1
In January 2026, Pioneer and West Biofuels executed a BioMAT Power Purchase Agreement (BioMAT PPA) for the Mariposa project. The other five projects, submitted during the Final Period of BioMAT, remained “in queue” during the Final Period that ended on March 31, 2026. The Final Period allowed PPRs submitted on or before December 31, 2025 to remain eligible and be considered for a BioMAT PPA award as long as the remaining capacity allocations have not been exhausted. On April 1, 2026, Pioneer was notified that the five PPRs were conditional winners for a BioMAT PPA award and could proceed with a BioMAT PPA. Pioneer staff are actively working with West Biofuels and Phoenix Energy on executing the BioMAT PPAs and expect to execute the five BioMAT PPAs in April 2026.

As shown in Table 2 below, the total estimated annual cost for all six BioMAT PPAs is approximately $19.4 million and when reduced by the expected BioMAT subsidies totaling $17.0 million, it results in an expected net cost to Pioneer of $2.4 million.

Table 2

STRATEGIC PLAN
The recommendation supports the following strategic goals:

1. Be a Community Partner

2. Be Fiscally Strong and Resilient

3. Achieve Operational Optimization

FISCAL IMPACT
The net cost of the recommendation aligns with the normal cost of energy resulting in no fiscal impact to the budget.

ATTACHMENTS
There are no attachments to this report.

BioMAT
PPR # Applicant City County Category Size Award Status COD 221-01 West Biofuels Grass Valley Nevada Cat 3 3 MW conditional winner 10/1/2027 221-02 West Biofuels Marysville Butte Cat 3 3 MW conditional winner 4/1/2028 221-03 West Biofuels Mariposa Mariposa Cat 3 3 MW PPA awarded 10/1/2027 221-05 West Biofuels Quincy Plumas Cat 3 3 MW conditional winner 10/1/2028 221-06 West Biofuels Biggs Butte Cat 2 3 MW conditional winner 4/1/2028 223-01 Phoenix Energy Arnold Calaveras Cat 3 3 MW conditional winner 12/1/2028 PPR # Developer Project Category Size BioMAT Price
Estimated Cost
per Year
Estimated BioMAT
Subsidy per Year
Estimated Net Cost
per Year
221-01 West Biofuels Grass Valley Cat 3 3 MW $ 199.72 $ 3,300,000 $ 2,900,000 $ 400,000 221-02 West Biofuels Marysville Cat 3 3 MW $ 199.72 $ 3,300,000 $ 2,900,000 $ 400,000 221-03 West Biofuels Mariposa Cat 3 3 MW $ 199.72 $ 3,300,000 $ 2,900,000 $ 400,000 221-05 West Biofuels Quincy Cat 3 3 MW $ 199.72 $ 3,300,000 $ 2,900,000 $ 400,000 221-06 West Biofuels Biggs Cat 2 3 MW $ 183.72 $ 2,900,000 $ 2,500,000 $ 400,000 223-01 Phoenix Energy Arnold Cat 3 3 MW $ 199.72 $ 3,300,000 $ 2,900,000 $ 400,000 $ 19,400,000 $ 17,000,000 $ 2,400,000

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Staff Report – Item 6
To: The Governing Board
From: Brad Koehn, Director of Finance and Administration Eric Ponce, Information Technology Analyst
Item 6: Information Technology and Security Audit Presentation Date: 4/16/2026

RECOMMENDATION
Receive a presentation on the Information Technology (IT) and Security Audit results.

BACKGROUND
Pioneer is committed to implementing cybersecurity and information technology controls and policies that meet or exceed industry best practices. To support this commitment, Pioneer voluntarily conducts annual cybersecurity and information technology audits to assist in identifying opportunities to further strengthen its security posture and promote continuous improvement.

These voluntary audits are separate from the California Public Utilities Commission (CPUC)-required Advanced Metering Infrastructure (AMI) audits, which occur every three years. Pioneer conducts these annual assessments to proactively identify and address potential gaps in advance of regulatory audits.

ANALYSIS & DISCUSSION
In October of 2025, Pioner issued a Request for Proposals (RFP) for IT audit services. Following a competitive evaluation process, Intelligent Technical Solutions (ITS) was selected as the preferred auditor. Pioneer, its managed service provider (MSP), and ITS began work on the audit in January 2026. The audit was completed, and final deliverables were provided on March 6, 2026.

The final audit assessment report determined that Pioneer maintains a strong data security posture. Notably, the penetration testing portion of the audit identified zero (0) critical or high-risk findings. The results also highlight Pioneer’s resilience against external vulnerabilities and recognize several areas of strong performance.

The report notes measurable improvements in Pioneer’s overall cybersecurity maturity, largely attributed to the implementation of recommended remediations from the prior annual audit and the adoption of formal IT policies.

The recently Board-approved IT policies were identified as a key strength.

However, the audit emphasized that policy adoption alone is not sufficient. Since the IT Policies were only recently adopted, there has not yet been an opportunity to demonstrate a track record of adherence. The next critical step is to show consistent compliance through clear documentation and evidence collection. Establishing and maintaining these records will be essential for future audits and will further strengthen Pioneer’s control environment. These efforts are currently underway, with a documentation cadence expected to be established over the next three to six months.

Overall, the audit results reflect a positive trajectory in Pioneer’s cybersecurity program.

Plf)NEER

COMMUNITY ENERGY
Agenda Item: 6 Agenda Date: 4/16/2026

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STRATEGIC PLAN
This Information Technology and Security Audit Review supports the Strategic Goal of Achieving Operational Optimization.

FISCAL IMPACT
The Information Technology and Security Audit was included in the Fiscal Year 2025-26 budget.

ATTACHMENTS
There are no attachments to this report.

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Staff Report – Item IV-B
To: The Governing Board
From: Donald Eckert Jr., Chief Executive Officer
Item IV-B: CEO Report
Date: 4/16/2026

PERSONNEL
There is one active recruitment for the Programs Manager position.

CHIEF EXECUTIVE OFFICER AGREEMENTS EXECUTED (NON-POWER SUPPLY) The following agreements have been conducted by the Chief Executive Officer, consistent with the authority delegated by the Board:
• Consultant Services Agreement with Sonitrol Security for security system installation at Pioneer’s new office in the amount of $23,669.56; along with contracted monthly services for a 5-year term, effective April 1, 2026, in a total amount not to exceed $68,000.

FEEDING THE FOOTHILLS
Staff participated in a volunteer event for Feeding the Foothills. It’s a wonderful partnership we have developed and honored to assist Feeding the Foothills in their important mission.

Plf)NEER

COMMUNITY ENERGY
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Agenda Item: IV-B Agenda Date: 4/16/2026

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QUARTERLY SPONSORSHIP ACTIVITY REPORT
The following table shows sponsorship activity throughout the Fiscal Year:

Event Date Member Community Vendor Special Event Amount CY 2025 Auburn Hillmen Foundation
Future Innovators Science Lab
Sponsorship $ 2,500
7/3/2025 Colfax Colfax Railroad Days Colfax 3rd of July $ 1,500 7/4/2025 Auburn Auburn Chamber of Commerce Auburn Family Fourth of July $ 2,000 7/4/2025 Grass Valley
Grass Valley Downtown
Association Grass Valley 4th of July $ 1,500
7/2025 -
7/2026 El Dorado County
El Dorado County Chamber of
Commerce Chamber Champion Program $ 5,000
8/6-10, 2025
Grass Valley/Nevada
County Nevada County Fairgrounds Nevada County Fair $ 1,950 8/22-23,
2025 Lincoln
Lincoln Area Chamber of
Commerce Lincoln Airport Wings & Wheels $ 1,500
9/10/2025 Auburn/Placer County Latino Leadership Council Latino Leadership Council Annual
Forum $ 500
9/12/2025 Statewide League of California Cities Sacramento Valley Division Meeting $ 1,500 9/14/2025 Rocklin Rocklin Public Saftey Foundation Patriot Day $ 1,000 9/20/2025 Rocklin
Rocklin Area Chamber of
Commerce 32nd Annual Hot Chili & Cool Cars $ 1,500
9/22-28,
2025 Placer County Placer Land Trust 2025 Conservation Celebration Week $ 500 9/25/2025 Auburn Auburn Chamber of Commerce
Annual Celebrate the Community
Dinner $ 1,500
10/4/2025 Loomis
Loomis Basin Chamber of
Commerce 2025 Fruitshed Festival $ 2,500
12/6/2025 Auburn Auburn Chamber of Commerce Festival of Lights Parade $ 1,000 11/1/2025 Rocklin The Gathering Inn
2025 Gathering for Hope - Glitz and
Glam Gala $ 500
11/28-12/19,
2025 Grass Valley
Grass Valley Downtown
Association Cornish Christmas at Grass Valley $ 2,000
11/21/2025 Regional
Mountain Counties Water
Resources Association 2025 Fall Water Forum $ 2,500
12/4/2025 Lincoln
Lincoln Area Chamber of
Commerce Christmas Tree Lighting & Parade $ 1,000
12/6/2025 Rocklin
Rocklin Area Chamber of
Commerce 18th Annual Rocklin Tree Lighting $ 1,000
12/13/2025 Colfax City of Colfax Colfax Winterfest $ 2,500 12/5/2025 El Dorado County
El Dorado Hills Community
Services District
Gilmore Senior Center Christmas
Luncheon $ 1,000
1/23/2026 Auburn Auburn Chamber of Commerce Installation & Awards Dinner 2026 $ 500 CY 2026 Auburn Auburn Senior Center Annual Workshop $ 1,000 2/15/2026
Placerville/El Dorado
County Hands 4 Hope Empty Bowls Dinner $ 1,000
2/28/2026 El Dorado County Snowline Health 911 Battle of the Badges Chili Cook-off $ 1,000 TOTAL $ 39,950
Sponsorship Activity thru March 31, 2026
*Special Note: Pioneer invested, for community outreach visibility purposes, $7,500 to support the Placerville Aquatics Center’s pump upgrade of its City Pool.

Agenda Item: IV-B Agenda Date: 4/16/2026

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Pioneer Community Energy Board of DirectorsApril 16, 2026

Pioneer Community Energy Board of Directors
April 16, 2026