BOARD FINANCE COMMITTEE MEETING AGENDA
An in-person meeting. No online or phone participation option.
Redwood Coast Energy Authority Office May 12, 2025
633 Third Street, Eureka, CA 95501 Monday, 11 a.m. – 12:30 p.m.
In compliance with the Americans with Disabilities Act, any member of the public needing special accommodation to participate in this meeting should call (707) 269-1700 or email LTaketa℗ redwoodenergy¡org as soon as possible. Advance notice enables RCEA staff to make their best effort to reasonably accommodate access to this meeting while maintaining public safety.
Pursuant to Government Code section 54957.5, all writings or documents relating to any item on this agenda which have been provided to a majority of the Board Finance Subcommittee, including those received less than 72 hours prior to the RCEA Board meeting, will be made available to the public at www¡RedwoodEnergy¡org.
1. ROLL CALL. Committee Members: Scott Bauer, Michael Gerace, Skip Jorgensen, Jason Ramos, Frank Wilson. Staff: Directorof Business Planning & FinanceLori Biondini; Executive Director Elizabeth Burks,Deputy Executive DirectorEileen Verbeck.
2. ORAL AND WRITTEN COMMUNICATIONS. This item is provided for the public to address the Finance Subcommittee on matters not on the agenda. At the conclusion of all public statements, the Finance Subcommittee may respond. Any request that requires Finance Subcommittee action will be set by the Subcommittee to a future agenda or referred to staff.
3. APPROVAL OF MINUTES
A. Approve minutes of February 6, 2025, Board Finance Committee meeting.
4. OLD BUSINESS – None.
1 RCEA May 12, 2025, Board Finance Committee Meeting Agenda
5. NEW BUSINESS
A. Fiscal Year 2025-26 Draft Budget Discussion
Provide guidance and input to staff on draft fiscal year 2025 - 2026 budget.
6. COMMITTEE AND STAFF COMMUNICATIONS. All communications shall be limited to RCEA business and shall not request or lead to action by the Committee at this meeting.
7. FUTURE AGENDA ITEMS. Any request that requires Committee action will be set by the Committee for a future agenda or referred to staff.
8. FUTURE MEETING DATES.
A. Thursday, May 22 – RCEA Board meeting, initial FY 25-26 draft budget review B. Finance Committee follow-up FY 25-26 Budget meeting (if needed) Select day/time:
a. Monday, June 9, 2025, 5 p.m.
b. Tuesday, June 10, 12 p.m.
c. Thursday, June 12, 12 p.m.
d. Thursday, June 12, 3 p.m.
C. Thursday, June 26, RCEA Board meeting – potential FY 25-26 Budget adoption
9. ADJOURNMENT.
2 BOARD FINANCE COMMITTEE
DRAFT MEETING MINUTES
Thursday, February 6, 2025
4:30 p.m.
Notice of this meeting was posted on February 3, 2025. Executive Director Elizabeth Burks called a regular meeting of the RCEA Board Finance Committee to order on the above date at 4:32 p.m. COMMITTEE MEMBERS PRESENT: Scott Bauer, Michael Gerace, Frank Wilson. ABSENT: Skip Jorgensen, Jason Ramos. STAFF PRESENT:
Executive Director Elizabeth Burks; Business Planning and Finance Director Lori Biondini; Deputy Executive Director Eileen Verbeck; Board Clerk Lori Taketa.
ORAL AND WRITTEN COMMUNICATIONS
Member of the public Walt Paniak emailed concerns about Humboldt Sawmill Company’s data reporting, RCEA’s contracted rates with HSC and The Energy Authority (TEA), and suggested RCEA merge with a larger CCA to reduce customer prices. Executive Director Burks closed the public comment period.
APPROVAL OF MINUTES
No member of the public was present to comment on the draft minutes.
M/S: Bauer, Gerace: Approve minutes of May 14, 2024, Board Finance Subcommittee meeting.
The motion passed with the following vote. Ayes: Bauer, Gerace. Noes: None.
Absent: Jorgensen, Ramos. Abstentions: Wilson.
NEW BUSINESS – Committee Chair Selection
Staff reported that the Board needs to extend term lengths for both Finance Committee membership and committee leadership positions to facilitate mid-year budget adjustment committee meeting scheduling. No member of the public commented on this agenda item.
M/S: Bauer, Wilson: Appoint Michael Gerace and Frank Wilson to serve as RCEA Finance Committee Chair and Vice Chair, respectively, to serve a one-year term ending February 28, 2026.
3 RCEA February 6, 2025, Board Finance Committee Meeting Draft Minutes
The motion passed with the following vote. Ayes: Bauer, Gerace, Wilson. Noes: None.
Absent: Jorgensen, Ramos. Abstentions: None.
OLD BUSINESS – A. Fiscal Year 2024-2025 Draft Budget Adjustment Deputy Executive Director Verbeck and Business Development and Finance Director Biondini presented the proposed adjustments to the fiscal year 2024-2025 budget and explained the financial model and Northern Rural Energy Network (NREN) funding changes triggering the draft budget adjustments.
The CPUC approved NREN funding and launch, adding $7.1 million in revenue and expense to RCEA’s budget. This funding offsets $931,982 of the previously adopted budget’s expenses. Recent TEA financial modeling projects RCEA’s net revenue to be $13.9 million, instead of the $1.8 million negative net revenue projected in May 2024. Staff proposed reinstatement of the following budget items that were frozen, postponed or cut at the end of last fiscal year:
• Reinstate travel and training budget
• Unfreeze vacant positions
• Reinstate communication and outreach budget
• Fund compensation and classification study
• Increase electric vehicle rebates by $50,000
• Fund audits and financial software
• Fund IT hardware replacements and software.
In May 2024, the Board asked for a mid-year evaluation of reinstating their 100% renewable and carbon-free procurement by 2025 target. In May, the Board reduced renewable power procurement standards to State-mandated levels to address the projected budget shortfall.
Staff presented three renewable energy procurement options and their anticipated effects on RCEA’s financial outlook:
1. Maintaining current State-level renewable procurement goals and selling renewable products that exceed those levels would result in an additional $4 million in net revenue and a 47% renewable and carbon-free power portfolio.
2. Keeping current State-level renewable procurement goals and not selling excess renewable products would not change RCEA’s net revenue levels but would result in a 75% renewable and carbon-free power portfolio.
3. Reinstating RCEA’s procurement goals would result in negative net revenue (loss) of $1.6 million but a 100% renewable and carbon-free portfolio.
The committee members supported the staff’s recommendation to maintain current renewable and carbon-free procurement levels and retain energy products that exceed State-mandated levels within RCEA’s portfolio (option 2). The directors expressed the need to build RCEA reserves to Reserve Policy goal levels to weather extreme market volatility and difficult renewable energy development conditions.
Staff and directors discussed how Tribal Energy Resilience and Sovereignty funds were not included in this budget adjustment due to uncertainty of receiving obligated federal funding for microgrid construction to provide more reliable electricity service to Hoopa Valley, Karuk, Yurok and Blue Lake Rancheria Tribe lands. The group discussed the establishment of a community benefit fund from non-ratepayer income, and the committee expressed a desire to 4 RCEA February 6, 2025, Board Finance Committee Meeting Draft Minutes
direct these funds first to families struggling to pay electricity bills. There was no public comment on this item.
FUTURE MEETING DATES
Executive Director Burks confirmed the following meeting dates:
• February 27, 2025, RCEA Board meeting to discuss draft budget adjustments. • May 2025 and June Finance Committee meetings for draft fiscal year 2025-2026 budget review.
Chair Gerace adjourned the meeting at 5:50 p.m.
Lori Taketa
Clerk of the Board
5 This page
intentionally
left blank.
6
STAFF REPORT
Agenda Item # 5 - A
AGENDA DATE: May 12, 2025
TO: Board of Directors Finance Committee
PREPARED BY:
Lori Biondini, Business Development & Finance Director
Elizabeth Burks, Executive Director
Eileen Verbeck, Deputy Executive Director
SUBJECT: Fiscal Year 2025-26 Draft Budget
SUMMARY
Staff will provide a presentation on the preliminary fiscal year 2025-2026 budget at the meeting.
STAFF RECOMMENDATION
Provide guidance and input to staff on draft fiscal year 2025 - 2026 budget. 7 This page
intentionally
left blank.
8 Redwood Coast Energy Authority Fiscal Year 2025-2026 Proposed Budget Community
Choice Energy Biomat/FIT REVNet NCRCN RRPG
Proposed New
Programs RCAM
Revenue
State Contracts 1,245,149 277,661
REVNet Sales & LCFS Credits 77,000
Non-government Contracts 1,887
Electricity Sales 73,752,521
Uncollectable Accounts (2,212,576)
Total 71,539,945 - 77,000 277,661 1,245,149 - 1,887
Expense
WHOLESALE POWER SUPPLY
CAISO/Market Participation Costs
Total
Bilateral Costs
Resource Adequacy 9,544,859 5,000
PPA Costs 26,180,427
PPA Revenues (16,027,860)
PCC1 RECs 1,826,772
PCC3 RECs 704,000
Carbon Free Energy 464,406
Total
Sub-total 57,612,586 - - - - - 5,000
PERSONNEL EXPENSES
Payroll
Full-time Salaries 655,230 20,076 15,082 29,865 155,124 150,693 60,242 Part-time Salaries 31,483 - 16,570 - - 14,913 -
Employee Benefits-Insurance 174,925 5,107 4,740 12,278 37,716 48,609 14,570 Paryoll Taxes 58,371 1,706 2,690 2,539 13,186 14,077 5,121 Worker's Comp 3,983 116 184 173 900 961 349
PTO
Total
Other Personnel Costs
Safety - - - - 4,500
Staff Training, Development & Related Travel 30,000 7,500 10,000 Local Mileage 200 200 500 750 100 400
Recruitment & Screening
Administrative Service Fees/Bus Passes
Total
Sub-total 954,191 27,005 39,465 45,355 207,675 239,352 92,682
FACILITIES AND OPERATIONS
Offices/Workstations
Office Supplies
Furniture & Equipment
IT Hardware & Supplies
Software 2,500 400
IT Subcontractors
Office Lease and BOD/CAC Space Rental
Office Utilities & Mobile Phones/Hotspots
Office Maintenance Supplies
Office Maintenance Services
Total
Major Capital Assets
Operations & Maintenance 62,800 167,894
Capital Contributions 5,000 -
Total
Property & Liability Insurance
Dues & Memberships 252,744 815
Sub-total 255,244 - 67,800 - - - 169,109
POWER RESOURCES INFRASTRUCTURE PLANNING and TRANSPORTATION (IP&T)
Redwood Coast Energy Authority Fiscal Year 2025-2026 Proposed Budget Community
Choice Energy Biomat/FIT REVNet NCRCN RRPG
Proposed New
Programs RCAM
POWER RESOURCES INFRASTRUCTURE PLANNING and TRANSPORTATION (IP&T)
COMMUNICATIONS AND OUTREACH
CCA Account Services
Printing, postage & delivery 90,000
General Events 1,000 1,500 5,000
Outside Professional Services
Sponsorships and Commuity Support
Advertising & Media - - 10,000
Sub-total 91,000 1,500 - 5,000 - 10,000 -
PROFESSIONAL & PROGRAM SERVICES
Regulatory 95,000
Program Related Professional Services 30,000 280,000 1,037,474 CC Power - special projects 305,261
CalCCA - special projects 15,000
NREN Partner Pass-thru
Accounting 100,000
Legal 40,000 4,000
Wholesale Services - TEA 896,946
Procurement Credit - TEA 572,390
Data Management - Calpine 808,002
Customer Billing - PG&E 256,634
Sub-total 3,089,233 30,000 - 284,000 1,037,474 - -
INCENTIVES & REBATES
Developer Fund/Grant Fund Match - 10,000
EV/EVSE/E-bike Incentives to Customers - - - - 100,000
Residential Equipment Efficiency - - - -
Commercial Equipment Efficiency - - - -
Lending Library
Sub-total - - - - - 100,000 -
NON OPERATING COSTS
Sub-total - 6,000 - - - - 120,000
Total Expense 62,008,254 58,505 107,265 334,355 1,245,149 349,352 386,791 Net Income 9,531,691 (30,265) (58,505) (56,694) 0 (384,904) (349,352) Reserves / Rate Stablization 5,000,000
Redwood Coast Energy Authority Fiscal Year 2025-2026 Proposed Budget Revenue
State Contracts
REVNet Sales & LCFS Credits
Non-government Contracts
Electricity Sales
Uncollectable Accounts
Total
Expense
WHOLESALE POWER SUPPLY
CAISO/Market Participation Costs
Total
Bilateral Costs
Resource Adequacy
PPA Costs
PPA Revenues
PCC1 RECs
PCC3 RECs
Carbon Free Energy
Total
Sub-total
PERSONNEL EXPENSES
Payroll
Full-time Salaries
Part-time Salaries
Employee Benefits-Insurance
Paryoll Taxes
Worker's Comp
PTO
Total
Other Personnel Costs
Safety
Staff Training, Development & Related Travel
Local Mileage
Recruitment & Screening
Administrative Service Fees/Bus Passes
Total
Sub-total
FACILITIES AND OPERATIONS
Offices/Workstations
Office Supplies
Furniture & Equipment
IT Hardware & Supplies
Software
IT Subcontractors
Office Lease and BOD/CAC Space Rental
Office Utilities & Mobile Phones/Hotspots
Office Maintenance Supplies
Office Maintenance Services
Total
Major Capital Assets
Operations & Maintenance
Capital Contributions
Total
Property & Liability Insurance
Dues & Memberships
Sub-total
NREN
Implementation NREN EMV
NREN
Marketing
PG&E Local
Government
Partnership
Program
Efficiency Lending
Library
163,898 7,374,328 474,799 296,099
163,898 7,374,328 474,799 296,099 -
- - - - -
4,675 722,550 17,256 216,632 13,927
- 145,268 8,029 - -
1,297 204,900 4,501 54,583 4,854
397 73,765 2,149 18,414 1,184
27 5,033 147 1,256 81
3,213 22,000
2,000 2,000
6,397 1,175,516 32,081 296,098 20,046
500
400,000
130,000
500 530,000 - - -
DEMAND-SIDE MANAGEMENT (DSM)
Redwood Coast Energy Authority Fiscal Year 2025-2026 Proposed Budget
COMMUNICATIONS AND OUTREACH
CCA Account Services
Printing, postage & delivery
General Events
Outside Professional Services
Sponsorships and Commuity Support
Advertising & Media
Sub-total
PROFESSIONAL & PROGRAM SERVICES
Regulatory
Program Related Professional Services
CC Power - special projects
CalCCA - special projects
NREN Partner Pass-thru
Accounting
Legal
Wholesale Services - TEA
Procurement Credit - TEA
Data Management - Calpine
Customer Billing - PG&E
Sub-total
INCENTIVES & REBATES
Developer Fund/Grant Fund Match
EV/EVSE/E-bike Incentives to Customers
Residential Equipment Efficiency
Commercial Equipment Efficiency
Lending Library
Sub-total
NON OPERATING COSTS
Sub-total
Total Expense
Net Income
Reserves / Rate Stablization
NREN
Implementation NREN EMV
NREN
Marketing
PG&E Local
Government
Partnership
Program
Efficiency Lending
Library
DEMAND-SIDE MANAGEMENT (DSM)
30,000 10,000
- 10,000 30,000 - -
157,000 1,147,706 320,000
92,718 3,000,951
157,000 4,148,657 412,718 - -
949,446
560,709
2,500
- 1,510,155 - - 2,500
- - - - -
163,897 7,374,328 474,799 296,098 22,546
0 0 0 0 (22,546)
Redwood Coast Energy Authority Fiscal Year 2025-2026 Proposed Budget Revenue
State Contracts
REVNet Sales & LCFS Credits
Non-government Contracts
Electricity Sales
Uncollectable Accounts
Total
Expense
WHOLESALE POWER SUPPLY
CAISO/Market Participation Costs
Total
Bilateral Costs
Resource Adequacy
PPA Costs
PPA Revenues
PCC1 RECs
PCC3 RECs
Carbon Free Energy
Total
Sub-total
PERSONNEL EXPENSES
Payroll
Full-time Salaries
Part-time Salaries
Employee Benefits-Insurance
Paryoll Taxes
Worker's Comp
PTO
Total
Other Personnel Costs
Safety
Staff Training, Development & Related Travel
Local Mileage
Recruitment & Screening
Administrative Service Fees/Bus Passes
Total
Sub-total
FACILITIES AND OPERATIONS
Offices/Workstations
Office Supplies
Furniture & Equipment
IT Hardware & Supplies
Software
IT Subcontractors
Office Lease and BOD/CAC Space Rental
Office Utilities & Mobile Phones/Hotspots
Office Maintenance Supplies
Office Maintenance Services
Total
Major Capital Assets
Operations & Maintenance
Capital Contributions
Total
Property & Liability Insurance
Dues & Memberships
Sub-total
STRATEGIC
PLANNING
CAPE/unfunded
energy planning &
regional
coordination NREN PA TERAS
1,634,000 111,190
77,000 -
831,458 851,139 9,993,607
73,752,521 -
(2,212,576) -
851,139 - - - 942,648 83,244,552
34,919,982
9,549,859
26,180,427
(16,027,860)
1,826,772
704,000
464,406
22,697,604
- - - - - 57,617,586
288,183 130,209 98,989 1,077,174 3,655,907
- 12,455 - 52,040 280,757
78,662 34,622 30,389 490,938 1,202,690
24,496 12,126 8,414 144,470 383,103
1,671 827 574 9,858 26,141
570,434 570,434
6,119,033
9,500 5,000
4,500 17,200 60,000 154,413
6,650 500
64,000 64,000
50,500 50,500
285,063
410,212 190,239 138,366 4,500 2,524,915 6,404,096
15,300 1,000 16,800
13,000 13,000
55,000 55,000
16,993 46,220 119,612 185,725
476,000 76,000
135,000 135,000
81,000 81,000
8,000 8,000
17,000 17,000
987,525
230,694
536,200 531,200
766,894
105,000 105,000
6,000 8,000 397,559
47,220 6,000 - 16,993 1,164,112 2,256,978
GENERAL &
ADMIN
FISCAL YEAR
2025-2026 BUDGET
PROGRAM ADMIN COMMUNITY
STRATEGIES
Redwood Coast Energy Authority Fiscal Year 2025-2026 Proposed Budget
COMMUNICATIONS AND OUTREACH
CCA Account Services
Printing, postage & delivery
General Events
Outside Professional Services
Sponsorships and Commuity Support
Advertising & Media
Sub-total
PROFESSIONAL & PROGRAM SERVICES
Regulatory
Program Related Professional Services
CC Power - special projects
CalCCA - special projects
NREN Partner Pass-thru
Accounting
Legal
Wholesale Services - TEA
Procurement Credit - TEA
Data Management - Calpine
Customer Billing - PG&E
Sub-total
INCENTIVES & REBATES
Developer Fund/Grant Fund Match
EV/EVSE/E-bike Incentives to Customers
Residential Equipment Efficiency
Commercial Equipment Efficiency
Lending Library
Sub-total
NON OPERATING COSTS
Sub-total
Total Expense
Net Income
Reserves / Rate Stablization
STRATEGIC
PLANNING
CAPE/unfunded
energy planning &
regional
coordination NREN PA TERAS
GENERAL &
ADMIN
FISCAL YEAR
2025-2026 BUDGET
PROGRAM ADMIN COMMUNITY
STRATEGIES
90,000
24,750 17,250
105,500 105,500
28,000 28,000
115,000 65,000
- - - 215,750 - 363,250
55,000 150,000
247,904 3,220,084
305,261
15,000
55,802 3,149,471
103,000 25,000 228,000
25,000 90,000 90,000 249,000
896,946
572,390
808,002
256,634
393,706 55,000 50,000 - 193,000 9,850,787
10,000
- - - 100,000
- - - 949,446
- - - 560,709
2,500
- - - - - 1,622,655
- - - - 3,200 129,200
851,138 251,239 188,366 237,243 3,885,227 78,244,552
(251,239) 0 (237,243) (188,366) (2,942,579)
5,000,000
-
NET (should be zero) (0)
Redwood Coast
Energy Authority
Board of Directors
Finance Subcommittee Meeting
May 12, 2025
Fiscal Year 2025-26 Draft
Budget
RCEA Annual Work
Goals
Summary
FY 24-25 Adopted
Budget
FY 25-26 Draft
Budget
Revenue $95.4M $83.2M
Expense $81.6M $78.2M
Projected Net
Revenue/ Addition
to Cash Reserves
$13.8M $5M
Revenue
FY 24-25 Adopted
Budget
FY 25-26 Draft
Budget
Electricity Sales $80.4M $71.5M
Grants and Contracts $9M $11.7M
Program Related Service Fees
(REVNet sales, project delay damages)
$5.9M $77,000
Expense
FY 24-25 Adopted
Budget
FY 25-26 Draft
Budget
Wholesale Power Supply $64.8M $57.6M
Personnel $5.4M $6.4M
Facilities and Operations $1.2M $2.3M
Communications and Outreach $276,200 $363,250
Professional and Program
Services
$8.9M $9.9M
Incentives and Rebates $965,605 $1.6M
Non-Operating Costs $129,000 $129,200
• Includes maintaining 0.5% retail rate discount from PG&E • Based on financial modeling from May 5, 2025
• Includes reinstating renewable energy targets for 2026 • TEA recently adjusted their financial modeling, resulting in more accurate load forecasting which decreased RCEA’s expected energy revenue and wholesale power expense
FY 24-25 Adopted
Budget
FY 25-26 Draft
Budget
Electricity Sales $80.4M $71.5M
Wholesale Power Supply $64.8M $57.6M
• External funding covers $2.2M of personnel costs
• No new positions are being requested
• Amount includes staff training and professional development including Board travel ($154K)
• Includes the remaining amount for the class and comp study ($50,000) • The result is a 20% increase from last year ($1M)
• COLA increase of 6% - $300K
• Executive Director position was vacant 6 months - $145K • Medical premiums increased 9% - $63K
• Four vacant positions unfrozen in February - $555,000 FY 24-25 Adopted
Budget
FY 25-26 Draft
Budget
Personnel $5.4M $6.4M
• RCEA’s compensation policy includes a biennial salary survey that would be due this year;
• However, RCEA hired a consultant to perform a full Classification and Compensation study expected to be complete in Sept. 2025 • Results and recommendations will be presented to Board with mid-year budget review
• In recognition that salaries haven’t increased since 2023, Staff propose a cost-of-living (COLA) adjustment for 2024 and 2025, effective July 1 with adoption of the budget.
Personnel - COLA
2024 2025 Total
All Urban Consumers, West Region 2.9% 2.2% 5.1%
Social Security Administration 2.5% 2.6% 5.6%
• External funding covers $577,720 of operations (database, other software, memberships)
• Amount includes new financial software ($60,000)
• Includes part of CalCCA and CC Power membership costs ($252,744) • Includes some consultation/design costs for office building ($530,000) FY 24-25 Adopted
Budget
FY 25-26 Draft
Budget
Facilities and Operations $1.2M $2.3M
• External funds cover $40,000 of the total
• Includes:
• Events
• Advertising
• Required CCE customer mailings
• Research and brand awareness
• Sponsorships of local events
FY 24-25 Adopted
Budget
FY 25-26 Draft
Budget
Communication and Outreach $276,200 $363,250
• External funding covers $6.4M of the total
• NREN contracts ($5.1M)
• Regional Resilience Grant Program (RRGP) contracts ($1.03M) • California Energy Commission North Coast Resilient Charging Network (NCRCN) contracts ($284,000)
• Includes 2024 and 2025 financial audits ($103,000)
• Special projects through CalCCA and CC Power ($320,000) • Data management/metering, billing, and day-ahead energy procurements/scheduling (TEA) services ($2.5M)
FY 24-25 Adopted
Budget
FY 25-26 Draft
Budget
Professional and Program Services $8.9M $9.9M
• External funding covers $1.5M of the total
• NREN incentives and rebates for Humboldt residential and commercial customers
• Electric Vehicle (EV), residential EV charging equipment, and E-bike rebates ($100,000)
• Caltrans Wayfinding Match funds ($10,000)
FY 24-25 Adopted
Budget
FY 25-26 Draft
Budget
Incentives and Rebates $965,605 $1.6M
Customer Programs - Transportation
• Redwood Electric Vehicle Network (REVNet)
• North Coast Resilient Charging Network (NCRCN)
• EV and E-bike Rebates
• Transportation Fleet Electrification Technical Assistance • Caltrans Wayfinding Match Program
Customer Programs – Energy Efficiency
• Northern Rural Energy Network (NREN)
• Energy Lending Library
• Local Government Program (LGP)
Customer Programs - Resiliency
• Regional Resilience Grant Program (RRGP) – solar plus storage at 16 rural fire stations.
• Tribal Energy Resilience and Sovereignty (TERAS) – awarded $88M from DOE. Due to administration changes there have been delays. Still continuing work on finalizing agreements.
Customer Programs - Generation
• Net Energy Metering (rooftop solar)
• Feed-in Tariff (FIT)
• Bioenergy Market Adjusting Tariff (BioMAT)
• Redwood Coast Airport Microgrid (RCAM)
Net Revenue Summary
• The proposed budget includes putting all net revenue into Reserves ($5M) • Reserve Policy – 180 days cash on hand ($33.1M proposed) • As of May 9, 2025, the cash balance is $37M.
• This includes $6.3M for CCE operations cash flow,
• $700K for non-CCE operations cash flow,
• $6.6M of pre-paid NREN funding
• Leaves $23.4M of completely unrestricted cash
Looking Forward
• The May 5, 2025 financial model shows negative net revenue for fiscal years 2026-27 and 2027-28 (-$3.4M and -$3.5M respectively) • Building cash reserves is crucial to stabilizing rates in the event of negative net revenue in the future