Agenda packet — San Diego Community Power Finance and Risk Management Committee, August 20, 2026

AGENDA
Regular Meeting
Finance and Risk Management Committee
August 20, 2026, 4 p.m.

City of Chula Vista Council Chambers
276 Fourth Avenue, Chula Vista, CA
The meeting will be held in person at the above date, time, and location. Finance and Risk Management Committee (FRMC) members and members of the public can attend in person. Under certain circumstances, FRMC members may also attend and participate virtually in the meeting, pursuant to the Brown Act (Gov. Code § 54953). As a convenience, San Diego Community Power provides a Zoom teleconference option for members of the public to virtually observe and provide public comments at its meetings. Additional details on in-person and virtual public participation are below. Please note that in the event of a technical issue causing a disruption in the Zoom teleconference option, the meeting will continue unless otherwise required by law (such as when an FRMC member is virtually attending the meeting), pursuant to certain provisions of the Brown Act.

Note: Any member of the public may provide comments to the FRMC on any agenda item. When providing comments, it is requested that members of the public include their name and city of residence for the record. Members of the public are requested to address their comments to the FRMC as a whole through the chairperson. Comments may be provided in one of the following ways:

1. Oral comments during the meeting. Anyone attending in person who wishes to address the FRMC is asked to complete a speaker’s card and present it to the clerk of the Board. To provide remote comments during the meeting, join the Zoom meeting by computer, mobile phone or dial-in number. When participating in a Zoom video teleconference by computer or mobile phone, use the “Raise Hand” feature. This will notify the moderator that a member of the public wishes to address the FRMC during a specific item on the agenda or during the non-agenda public comment period. Members of the public will not be shown on video but will be able to address the FRMC when called upon. If joining the meeting using the Zoom dial-in number, members of the public can raise their hand by pressing *9. Comments will be limited to three minutes.

2. Written comments. Written public comments must be submitted prior to the start of the meeting to [email protected]. Members of the public are asked to indicate a specific agenda item when submitting comments. All written comments received prior to the meeting will be provided to the FRMC members. At the discretion of the chairperson, the first ten submitted comments shall be stated into the record of the meeting. Comments 1 read at the meeting will be limited to the first 400 words. Comments received after the start of the meeting will be collected, sent to the FRMC members, and become part of the public record.

If members of the public have any materials to be distributed to the FRMC, they should be sent to [email protected], who will distribute the information to FRMC members.

The public may participate using the following remote options:

Teleconference Meeting Webinar
https://sdcommunitypower-org.zoom.us/j/95148519712
Telephone (audio only): 669-900-6833 or 253-215-8782 | Webinar ID: 95148519712

WELCOME

CALL TO ORDER

ROLL CALL

PLEDGE OF ALLEGIANCE

LAND ACKNOWLEDGEMENT

ITEMS TO BE ADDED, WITHDRAWN OR REORDERED ON THE AGENDA

PUBLIC COMMENT FOR ITEMS NOT ON THE AGENDA
This is an opportunity for members of the public to address the FRMC on any items not on the agenda but within the jurisdiction of the FRMC. Members of the public may provide comments in any manner described above.

CONSENT CALENDAR

1. Approve June 18, 2026, Meeting Minutes

2. Receive and File Treasurer’s Report for Ten-Month Period Ending April 30, 2026

REGULAR AGENDA

3. Treasurer’s Report for Eleven-Month Period Ending May 31, 2026 Recommendation: Receive and File Treasurer’s Report for Eleven-Month Period Ending May 31, 2026
2 COMMITTEE MEMBER ANNOUNCEMENTS
FRMC members may briefly provide information to other members and the public. There is to be no discussion or action taken on comments made by FRMC members unless authorized by law.

ADJOURNMENT
The Finance and Risk Management Committee will adjourn until the next regular meeting scheduled for Thursday, September 17, 2026, at 4 p.m.

COMPLIANCE WITH THE AMERICANS WITH DISABILITIES ACT
Community Power committee meetings comply with the Americans with Disabilities Act. Individuals with a disability who require a modification or accommodation, including auxiliary aids or services, to participate in a public meeting may contact [email protected]. Requests for disability-related modifications or accommodations require varying lead times and should be provided at least 72 hours in advance of the public meeting.

AVAILABILITY OF COMMITTEE DOCUMENTS
Copies of the agenda and related materials are available at Meetings and Agendas - San Diego Community Power. Late-arriving documents related to an agenda item are distributed to the committee members prior to or during the committee meeting and are available for public review as required by law. Public records, including agenda-related documents, can be requested electronically from [email protected], or by mailing San Diego Community Power, Attn: Clerk of the Board, P.O. Box 12716, San Diego, CA 92112. The documents may also be posted on Community Power’s website. Such public records are also available for inspection by contacting [email protected] to arrange an appointment. 3 SAN DIEGO COMMUNITY POWER

FINANCE AND RISK MANAGEMENT COMMITTEE
Regular Meeting Minutes
June 18, 2026
City of Chula Vista
276 Fourth Avenue, Chula Vista, CA 91910
__________________________________________________________________________

WELCOME

CALL TO ORDER
Chair Yamane called the Finance and Risk Management Committee meeting to order at 4:09 p.m.

ROLL CALL
PRESENT: Chair Yamane, City of National City; Vice Chair Suzuki, City of La Mesa; and Director Inzunza, City of Chula Vista

Absent: None
Staff Present: Chief Financial Officer Burlingame; Chief Operating Officer Clark; General Counsel Tyagi; Senior Director of Finance and Risk Manglicmot; Clerk of the Board Hernandez; and Senior Executive Assistant Porras

PLEDGE OF ALLEGIANCE
Vice Chair Suzuki led the Pledge of Allegiance.

LAND ACKNOWLEDGEMENT
Chair Yamane acknowledged the Kumeyaay Nation and all the original stewards of the land.

ITEMS TO BE ADDED, WITHDRAWN, OR REORDERED ON THE AGENDA None.

PUBLIC COMMENTS FOR ITEMS NOT ON THE AGENDA
None.
4 CONSENT CALENDAR

1. Approve March 21, 2026, Meeting Minutes
There were no public comments on Consent Item No. 1.

Motioned by Director Inzunza and seconded by Vice Chair Suzuki to approve Consent Item No. 1. The motion carried 3/0 by Roll Call Vote as follows:

AYES: Chair Yamane, Vice Chair Suzuki and Director Inzunza NOES: None
ABSTAINED: None
ABSENT: None

REGULAR AGENDA

2. Treasurer’s Report for Nine-Month Period Ending March 31, 2026 Ms. Burlingame and Mr. Delaney, Chandler Asset Management representative, presented the Treasurer’s Report for Nine-Month Period Ending March 31, 2026.

Robert Johnson provided public comment on Item No. 2.

After Committee member discussion, comments and questions, the Treasurer’s Report for Nine-Month Period Ending March 31, 2026, was received and filed.

3. Public Hearing on AB 2561 (McKinnor) – Status of Vacancies, Recruitment and Retention Mr. Manglicmot presented an overview of Assembly Bill (AB) 2561 (McKinnor), including vacancy status and recruitment and retention efforts.

There were no public comments on Item No. 3.

Motioned by Vice Chair Suzuki and seconded by Director Inzunza to recommend the Board hold a public hearing, receive comments, and accept a report on the status of Community Power employee vacancy rates and recruitment and retention efforts. The motion carried 3/0 by Roll Call Vote as follows:

AYES: Chair Yamane, Vice Chair Suzuki and Director Inzunza NOES: None
ABSTAINED: None
ABSENT: None
5 4. Recommend Board Approval of Resolution, Adopting FY 2026-27 Operating Budget, FY 2026- 27 Capital Budget, and FY 2027-2031 Capital Investment Plan Mr. Manglicmot provided an overview of the proposed FY 2026-27 Operating Budget, FY 2026-27 Capital Budget, and FY 2027-2031 Capital Investment Plan.

Robert Johnson provided public comment on Item No. 4.

Director Suzuki expressed appreciation for staff’s incredible work on the budget.

Motioned by Chair Yamane and seconded by Director Inzunza to recommend Board Approval of Resolution, adopting FY 2026-27 Operating Budget, FY 2026-27 Capital Budget, and FY 2027-2031 Capital Investment Plan. The motion carried 3/0 by Roll Call Vote as follows:

AYES: Chair Yamane, Vice Chair Suzuki and Director Inzunza NOES: None
ABSTAINED: None
ABSENT: None

COMMITTEE MEMBER ANNOUNCEMENTS
Vice Chair Suzuki Introduced her summer intern, Macy Haro.

ADJOURNMENT
The Finance and Risk Management Committee adjourned at 4:59 p.m. to the next regular meeting scheduled for Thursday, August 20, 2026, at 4 pm.
_________________________
Maricela Hernandez, MMC, CPMC
Clerk of the Board
6 SAN DIEGO COMMUNITY POWER
Staff Report – Item 2
To: Finance and Risk Management Committee
From: Jannies Burlingame, Chief Financial Officer/Treasurer Via: Jack Clark, Acting Chief Executive Officer
Subject: Treasurer’s Report for Ten-Month Period Ending April 30, 2026 Date: August 20, 2026
Recommendation
Receive and File Treasurer’s Report for Ten-Month Period Ending April 30, 2026.

Background
San Diego Community Power (Community Power) prepares its accounting records on a full accrual basis under GAAP for governmental enterprise funds. Year-to-date financial statements for the 10-Month period ending April 30, 2026, include budget comparisons.

To enhance transparency, Community Power reports newly executed contracts between $50,000 and $150,000 in the Treasurer’s Report, per the Delegated Contract Authority Policy. Monthly operational metrics are presented at Board meetings, and key risk metrics are shared during FRMC meetings as part of the Treasurer’s Report.

On February 26, 2026, the Community Power Board of Directors (Board) approved the Amended Fiscal Year 2025-26 Operating Budget, which serves as the basis for comparison in this report.
7 Analysis and Discussion: Actual financial results for the period ending April 30, 2026: $1.052 billion in net operating revenues were reported compared to $1.027 billion budgeted for the period. Community Power’s change in net position of $219.1 million was reported year-to-date for Fiscal Year 2025-26. The following is a summary of the actual results through April 30, 2026, compared to the Fiscal Year 2025-26 Amended Budget:
• Operating revenues are $24.2 million, or 2.4% above budget assumptions primarily due to higher retail sales resulting from warmer temperatures. Uncollectable customer accounts are lower relative to budget.
• Cost of energy is $44.1 million, or 5.0% under budget, primarily due to lower energy costs resulting from lower load serving costs and lower renewable energy costs. • Professional Services and Consultants: $3.8 million below budget due to lower-than-expected utilization of outside professional services. • Personnel Costs: $0.5 million under budget, driven by vacancies and accrued vacation. • Non-Operating Revenues and Expenses:
• Total investment income of $15.4 million versus the budgeted $15.3 million. • $1.6 million in year-to-date interest and related expenses versus $1.3 million budgeted, in line with expectations.

The chart below shows the Budgeted Net Position as compared to actual operating income through the first 10 months of FY26:
-$10M
$M
$10M
$20M
$30M
$40M
$50M
$60M
$70M
9/30/2025 10/31/2025 11/30/2025 12/31/2025 1/31/2026 2/28/2026 3/31/2026 4/30/2026 Operating Income $27.6M $62.4M $17.1M $4.2M $12.1M $5.8M $7.5M $8.0M Budget Net Position $21.3M $46.8M -$0.1M -$2.1M $8.2M -$2.7M $0.1M $1.9M FY Budget Net Position to Operating Income
Operating Income Budget Net Position
8 Financial Reserves:

Under Resolution 2025-23, Community Power’s revised Financial Reserves Policy establishes a minimum reserve requirement of 180 days cash on hand and a reserve target of 225 days cash on hand. For Fiscal Year 2025-26, this target equates to approximately $623 million, based on projected operating expenses.

Community Power reserves at the end of the period totaled $680.9 million-, or 244-days cash on hand, including $482.1 million in unrestricted cash and $198.7 million in investment holdings. Total available liquidity (including unrestricted cash, investment holdings, and available lines of credit) was $903.9 million.

Presented below are charts showing Community Power’s rolling 12-month financial reserves relative to Reserve Policy thresholds, along with the composition of reserves between unrestricted cash and investments.
-
50 100
150
200
250
300
May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 Rolling 12-Months Days Cash on Hand (DCOH)
DCOH
Maximum
Target
Minimum
9 Presented below are the Budget to Actual results for the 10 months ending April 30, 2026. 10 Investment Portfolio Report
Chandler Asset Management manages Community Power’s investment portfolio. As of April 30, 2026, the market value of the portfolio was $125.1 million and in compliance with Community Power’s Investment Policy. Presented below is a summary of the investment portfolio’s overall characteristics.

The chart below presents monthly and year-to-date investment income for the first ten months of FY26.
11 Contract Execution between $50,000 and $150,000
To ensure transparency and comply with Community Power’s Non-Energy Procurement Policy, the table below lists contracts or amendments with not-to-exceed values between $50,000 and $150,000 that were executed under the CEO’s authority since the Treasurer’s Report presented at the previous Finance and Risk Management Committee meeting held on June 18, 2026, through June 30, 2026
• Agreement 2023-04 – Quartic Solutions, LLC
• Second amendment to extend the contract term through September 1, 2028, and to update the scope and schedule of services, no change to the Not-to-Exceed value of $100,000
Capital Investment Program Fund
The FY 2026-30 Capital Investment Plan contains all the individual capital projects, major equipment purchases, and major programs for the agency that are intended to span multiple years and that are considered one-time projects rather than recurring projects.

The first year of the FY 2026-30 CIP is Community Power’s capital budget shown in the Budgetary Comparison Schedule. Unspent funds are kept within the CIP and carried forward to the subsequent fiscal year. The CIP includes funding for local development feasibility studies, customer program pilot projects, member agency grants, community grants, a customer education platform, and other community-focused areas. 12 Customer Participation Rates
The participation rate for Community Power reflects full enrollment of current member agencies. We are reporting on the opt outs and eligible accounts associated with the phase based on those accounts that we have noticed for enrollment on a rolling basis as of the reporting month.

Presented below are the customer participation rates by jurisdiction as of June 1, 2026. 13 Presented below is the state of Community Power arrearages. The below arrearage data includes Community Power’s receivables aged 120+ days as of June 1, 2026.

Presented below is a breakout of Community Power’s arrearages data by residential and commercial customer class as of June 1, 2026.

Fiscal Impact
N/A
Strategic Plan
Consistent with the Strategic Plan objective of implementing prudent fiscal strategies to support long-term organizational sustainability.

Attachments
A: FY 2026 Year-to-Date Period Ended April 30, 2026, Financial Statements. 14 ITEM 2

ATTACHMENT A
15 1
ACCOUNTANTS’ COMPILATION REPORT
Management
San Diego Community Power
Management is responsible for the accompanying financial statements of San Diego Community Power (a California Joint Powers Authority) which comprise the statement of net position as of April 30, 2026, and the related statement of revenues, expenses, and changes in net position, and the statement of cash flows for the ten 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 note disclosures required by accounting principles generally accepted in the United States of America in these interim financial statements. San Diego Community Power’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 the Authority’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 the Authority because we performed certain accounting services that impaired our independence.

Maher Accountancy
San Rafael, CA
June 3, 2026
1101 Fifth Avenue, Suite 200 San Rafael, CA 94901 415 459 1249 mahercpa.com 16 Current assets
Cash and cash equivalents - unrestricted 482,130,332$
Cash and cash equivalents - restricted 33,257,761
Accounts receivable, net of allowance 87,232,090
Accrued revenue 39,325,087
Prepaid expenses 3,398,611
Other receivables 6,409,869
Deposits 1,215,225
Investments 85,668,443
Total current assets 738,637,418
Noncurrent assets
Cash and cash equivalents - restricted 18,677,976
Investments 113,075,550
Capital assets, net of depreciation and amortization 1,119,957 Total noncurrent assets 132,873,483
Total assets 871,510,901
Current liabilities
Accrued cost of electricity 93,374,486
Accounts payable 4,842,815
Other accrued liabilities 4,098,092
State surcharges payable 185,741
Deposits - energy suppliers 383,731
Lease liability 746,781
Advances from grantors 51,288,737
Total current liabilities 154,920,383
Noncurrent liabilities
Deposits - energy suppliers 3,867,810
Total noncurrent liabilities 3,867,810
Total liabilities 158,788,193
Net investment in capital assets 373,176
Restricted for security collateral 647,000
Unrestricted 711,702,532
Total net position $ 712,722,708

NET POSITION

SAN DIEGO COMMUNITY POWER

STATEMENT OF NET POSITION
As of April 30, 2026
ASSETS

LIABILITIES
See accountants' compilation report. 2 17

OPERATING REVENUES
Electricity sales, net $ 1,049,145,824
Grant revenue 6,360,751
Liquidated damages revenue 2,348,023
Other income 707,342
Total operating revenues 1,058,561,940

OPERATING EXPENSES
Cost of electricity 788,058,033
Contract services 20,909,312
Staff compensation 17,326,102
Other operating expenses 10,303,804
Depreciation and amortization 751,125
Total operating expenses 837,348,376
Operating income 221,213,564

NON-OPERATING REVENUES (EXPENSES)
Investment income 15,440,702
Interest expense (163,722)
Nonoperating revenues (expenses), net 15,276,980
CHANGE IN NET POSITION 236,490,544
Net position at beginning of year 476,232,164
Net position at end of year 712,722,708$

SAN DIEGO COMMUNITY POWER

STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN NET POSITION
Ten Months Ended April 30, 2026
See accountants' compilation report. 3 18

CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers 1,113,379,822$
Receipts from grantors 32,320,572
Receipts of supplier security deposits 29,860,990
Receipts from wholesale sales and other operating activities 6,322,758 Payments to suppliers for electricity (799,049,909)
Payments for other goods and services (28,889,943)
Payments for deposits and collateral (5,330,351)
Payments for staff compensation (17,357,359)
Payments of state surcharges (2,370,998)
Net cash provided by operating activities 328,885,582

CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Proceeds from bank note 19,000,000
Principal payments - bank note (19,000,000)
Interest payments (89,170)
Net cash provided (used) by noncapital
financing activities (89,170)

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Lease payments (779,820)
Purchases of capital assets (553,540)
Net cash used by capital and related financing activities (1,333,360)

CASH FLOWS FROM INVESTING ACTIVITIES
Investment income received 14,639,694
Proceeds from investment sales and maturities of investments 6,335,238 Purchase of investments (133,546,161)
Net cash provided (used) by investing activities (112,571,229) Net change in cash and cash equivalents 214,891,823
Cash and cash equivalents at beginning of year 319,174,246 Cash and cash equivalents at end of year 534,066,069$
Reconciliation to the Statement of Net Position
Unrestricted cash and cash equivalents - current 482,130,332$ Restricted cash and cash equivalents - current 33,257,761 Restricted cash and cash equivalents - noncurrent 18,677,976 Cash and cash equivalents 534,066,069$

NONCASH INVESTING ACTIVITIES
Change in fair value of investments 470,430$
Change in interest income receivable 330,578$

SAN DIEGO COMMUNITY POWER

STATEMENT OF CASH FLOWS
Ten Months Ended April 30, 2026
See accountants' compilation report. 4
19 Operating income 221,213,564$
Adjustments to reconcile operating income to net
cash provided by operating activities
Depreciation and amortization expense 751,125
(Increase) decrease in:

Accounts receivable, net 28,795,133
Accrued revenue 33,417,272
Prepaid expenses 20,403,524
Other receivables (1,979,300)
Deposits 9,878,986
Increase (decrease) in:

Accrued cost of electricity (8,827,680)
Accounts payable 1,031,843
Advances from grantors 26,033,023
Other accrued liabilities 1,938,137
State surcharges payable (349,405)
Deposits - energy suppliers (3,420,640)
Net cash provided by operating activities 328,885,582$

SAN DIEGO COMMUNITY POWER
STATEMENT OF CASH FLOWS (continued)
Ten Months Ended April 30, 2026

RECONCILIATION OF OPERATING INCOME TO NET

CASH PROVIDED BY OPERATING ACTIVITIES
See accountants' compilation report. 5 20
1 ACCOUNTANTS’ COMPILATION REPORT

Board of Directors
San Diego Community Power
Management is responsible for the accompanying operating fund and capital investment program fund budgetary comparison schedules of San Diego Community Power (SDCP), a California Joint Powers Authority, for the ten months ended April 30, 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.

These special purpose statements are 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 SDCP.

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.

SDCP’s annual audited financial statements will 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 the Authority’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 SDCP because we performed certain accounting services that impaired our independence.

Maher Accountancy
San Rafael, CA
June 3, 2026
1101 Fifth Avenue, Suite 200 San Rafael, CA 94901 415 459 1249 mahercpa.com 21 Amended
Budget Actual
Amended
Budget Variance
(Under) Over
Actual/
Amended
Budget %
Amended
Budget
Amended
Budget
Remaining

REVENUES AND OTHER SOURCES
Gross Ratepayer Revenues 1,044,904,000$ 1,065,122,664$ 20,218,664$ 102% 1,194,789,000$ 129,666,336$ Less: Uncollectible Customer Accounts (16,927,000) (15,976,840) 950,160 94% (19,370,000) (3,393,160) Other Income - 3,055,365 3,055,365 na - (3,055,365)
Total Revenues and Other Sources 1,027,977,000 1,052,201,189 24,224,189 1,175,419,000 123,217,811

OPERATING EXPENSES
Cost of Energy 832,165,000 788,058,033 (44,106,967) 95% 969,917,000 181,858,967 Professional Services and Consultants 19,511,000 15,718,708 (3,792,292) 81% 23,414,000 7,695,292 Personnel Costs 16,343,000 15,852,746 (490,254) 97% 19,612,000 3,759,254 Marketing and Outreach 1,931,000 1,713,981 (217,019) 89% 2,317,000 603,019 General & Administrative 3,873,000 3,768,882 (104,118) 97% 4,648,000 879,118 Total Operating Expenses 873,823,000 825,112,351 (48,710,649) 1,019,908,000 194,795,649 Operating Income (Loss) 154,154,000 227,088,838 72,934,838 155,511,000 (71,577,838)

NON-OPERATING REVENUES (EXPENSES)
Investment Income 15,246,000 15,440,702 194,702 101% 18,295,000 2,854,298 Interest and Related Expenses (1,262,000) (1,554,275) (292,275) 123% (1,515,000) 39,275 Transfer to Capital Investment Program (21,881,000) (21,881,000) - 100% (21,881,000) - Total Non-Operating Revenues (Expenses) (7,897,000) (7,994,573) (97,573) (5,101,000) 2,893,573 NET CHANGE 146,257,000$ 219,094,265$ 72,837,265$ 150,410,000$ (68,684,265)$

SAN DIEGO COMMUNITY POWER

BUDGETARY COMPARISON SCHEDULE
Ten Months Ended April 30, 2026

OPERATING FUND
Year-to-Date Annual
See accountants' compilation report. 22
Annual
Amended
Budget YTD Actual
Amended
Budget
Remaining

REVENUES AND OTHER SOURCES
Transfer in from Operating Fund 21,881,000$ 21,881,000$ -$ Grant Revenue - SDREN 31,868,547 5,666,189 (26,202,358) Grant Revenue - CDFA Efficient Refrigeration Pilot - 694,563 694,563 Grant Revenue - DAC 589,822 - (589,822)
Total Revenue and Other Sources 54,339,369 27,547,189 (26,792,180)

EXPENDITURES AND OTHER USES
Program Expenditures 54,628,369 10,856,709 (43,771,661)$ Net increase (decrease) in fund balance (289,000)$ 16,690,480 Fund balance at beginning of period 10,340,567
Fund balance at end of period 27,031,047$

BUDGETARY COMPARISON SCHEDULE
Ten Months Ended April 30, 2026

CAPITAL INVESTMENT PROGRAM FUND
See accountants' compilation report. 23

SAN DIEGO COMMUNITY POWER
Staff Report – Item 3
To: Finance and Risk Management Committee
From: Jannies Burlingame Chief Financial Officer/Treasurer Via: Jack Clark, Acting Chief Executive Officer
Subject: Treasurer’s Report for Eleven-Month Period Ending May 31, 2026 Date: August 20, 2026
Recommendation
Receive and File Treasurer’s Report for Eleven-Month Period Ending May 31, 2026.

Background
Beginning in September 2026, Community Power intends to transition the Treasurer’s Report from a monthly cadence to a quarterly reporting schedule. This change is intended to better align the Treasurer’s Report with the quarterly investment update, allowing staff to present financial results, investment portfolio performance, liquidity, reserve levels, and related risk metrics together in a more comprehensive and coordinated format. Moving to a quarterly cadence will also support more meaningful trend analysis for the Finance & Risk Management Committee while maintaining regular transparency into Community Power’s financial position and compliance with applicable policies.

San Diego Community Power (Community Power) prepares its accounting records on a full accrual basis under GAAP for governmental enterprise funds. Year-to-date financial statements for the 11-month period ending May 31, 2026, include budget comparisons.

The Board adopted an Investment Policy on May 25, 2023, with subsequent revisions on June 27, 2024, and August 28, 2025, to ensure the safeguarding of principal, preservation of liquidity, generation of returns, and adherence to a high standard of fiduciary care. The policy requires regular reporting to the Financial and Risk Management Committee (FRMC) via the Treasurer’s Report. As of May 31, 2026, the investment portfolio was compliant with the Community Power Investment Policy.
24 To enhance transparency, Community Power reports newly executed contracts between $50,000 and $150,000 in the Treasurer’s Report, per the Delegated Contract Authority Policy. Monthly operational metrics are presented at Board meetings, and key risk metrics are shared during FRMC meetings as part of the Treasurer’s Report.

On February 26, 2026, the Community Power Board of Directors (Board) approved the Amended Fiscal Year 2025-26 Operating Budget, which serves as the basis for comparison in this report.

Analysis and Discussion: Actual financial results for the period ending May 31, 2026:
$1,125 billion in net operating revenues were reported compared to $1.089 billion budgeted for the period. Community Power’s change in net position of $229.3 million was reported year-to-date for Fiscal Year 2025-26. The following is a summary of the actual results through May 31, 2026, compared to the Fiscal Year 2025-26 Amended Budget:
• Operating revenues are $35.5 million, or 3.3% above budget assumptions primarily resulting from higher retail energy sales. Uncollectable customer accounts are lower relative to budget.
• Cost of energy is $50.0 million, or 6.0% under budget, primarily due to significant savings in renewable contracts.
• Professional Services and Consultants: $4.4 million below budget due to lower-than-expected utilization of outside professional services. • Personnel Costs: $0.4 million under budget, driven by vacancies and accrued vacation. • Non-Operating Revenues and Expenses:
o Total investment income of $16.9 million vs the budgeted $16.8 million. o $1.7 million in year-to-date interest and related expenses versus $1.4 million budgeted, in line with expectations.
25 The chart below shows the Budgeted Net Position as compared to actual operating income through the first 11 months of FY26:
-$10M
$M
$10M
$20M
$30M
$40M
$50M
$60M
$70M
10/31/2025 11/30/2025 12/31/2025 1/31/2026 2/28/2026 3/31/2026 4/30/2026 5/31/2026 Operating Income $62.4M $17.1M $4.2M $12.1M $5.8M $7.5M $8.0M $8.2M Budget Net Position $46.8M -$0.1M -$2.1M $8.2M -$2.7M $0.1M $1.9M $0.5M FY Budget Net Position to Operating Income
Operating Income
Budget Net Position
26 Financial Reserves:

Community Power reserves at the end of the period totaled $682.4 million-, or 244-days cash on hand, including $483.3 million in unrestricted cash and $199.1 million in investment holdings. Total available liquidity (including unrestricted cash, investment holdings, and available lines of credit) was $905.4 million.

-
50 100
150
200
250
300
Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Rolling 12-Months Days Cash on Hand (DCOH)
DCOH
Maximum
Target
Minimum
27 Presented below are the Budget to Actual results for the 11 months ending May 31, 2026. 28 Investment Portfolio Report
Chandler Asset Management manages Community Power’s investment portfolio. As of May 31, 2026, the market value of the portfolio was $125.3M and in compliance with Community Power’s Investment Policy. Presented below is a summary of the investment portfolio’s overall characteristics.

The chart below presents monthly and year-to-date investment income for the first 11 months of FY26.
29 Contract Execution between $50,000 and $150,000
To ensure transparency and comply with Community Power’s Non-Energy Procurement Policy, the table below lists contracts or amendments with not-to-exceed values between $50,000 and $150,000 that were executed under the CEO’s authority between July 1 and July 31, 2026:
• Agreement 2026 -07 – Energy Integrity, Inc. dba Home Energy Academy • For development and delivery to residential customers education, outreach, and workshops supporting Community Power’s Solar Battery Savings Program, Not-to-Exceed $130,000
• Amendment 1 to Agreement 2025-61 with Power Switch Advisory, LLC • For professional engineering and advisory services supporting SDCP’s Battery Energy Storage System (BESS) initiative, Not-to-Exceed $100,000
• Amendment 2 to Agreement 2024-12 with Sorren CPAs P.C. • For independent financial statement auditing services, Not-to-Exceed $105,000
• Amendment 1 to Agreement 2026-08 with PlanetBids, LLC • For addition of vendor insurance compliance module through Community Power’s eProcurement System, Not-to-Exceed
$59,035.58
• Agreement 2026-29 with GDS Associates Inc.
• For specialized technical, regulatory, and wholesale power market advisory services, Not-to-Exceed $125,000
• Agreement 2025-69 with Casa Familiar, Inc.
• For marketing, education, and outreach services that support recruitment and enrollment of low-income residents and property owners into the California Energy Commission's Equitable Building Decarbonization Direct Install Program, Not-to-Exceed $120,000 • Agreement 2026-25 with The Cadmus Group LLC.
• For evaluation and customer survey services related to SDCP's Solar Battery Savings Program, Not-to-Exceed $147,205
• Purchase Order 2606-04 for Adobe, Inc.
• For Renewal of Adobe software services, Not-to-Exceed $57,237.40 30 Capital Investment Program Fund
The FY 2026-30 Capital Investment Plan contains all the individual capital projects, major equipment purchases, and major programs for the agency that are intended to span multiple years and that are considered one-time projects rather than recurring projects.

The first year of the FY 2026-30 CIP is Community Power’s capital budget shown in the Budgetary Comparison Schedule. Unspent funds are kept within the CIP and carried forward to the subsequent fiscal year. The CIP includes funding for local development feasibility studies, customer program pilot projects, member agency grants, community grants, a customer education platform, and other community-focused areas. 31 Customer Participation Rates
The participation rate for Community Power reflects full enrollment of current member agencies. We are reporting on the opt outs and eligible accounts associated with the phase based on those accounts that we have noticed for enrollment on a rolling basis as of the reporting month.

Presented below are the customer participation rates by jurisdiction as of July 1, 2026. 32 Presented below is the state of Community Power arrearages. The below arrearage data includes Community Power’s receivables aged 120+ days as of July 1, 2026.

Presented below is a breakout of Community Power’s arrearages data by residential and commercial customer class as of July 1, 2026.

Fiscal Impact
N/A
Strategic Plan
Consistent with the Strategic Plan objective of implementing prudent fiscal strategies to support long-term organizational sustainability.

Attachments
A: FY 2026 Year-to-Date Period Ended May 31, 2026, Financial Statements. 33 ITEM 3

ATTACHMENT A
34 1
ACCOUNTANTS’ COMPILATION REPORT
Management
San Diego Community Power
Management is responsible for the accompanying financial statements of San Diego Community Power (a California Joint Powers Authority) which comprise the statement of net position as of May 31, 2026, and the related statement of revenues, expenses, and changes in net position, and the statement of cash flows for the eleven 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.

We are not independent with respect to the Authority because we performed certain accounting services that impaired our independence.

Maher Accountancy
San Rafael, CA
June 30, 2026
1101 Fifth Avenue, Suite 200 San Rafael, CA 94901 415 459 1249 mahercpa.com 35 Current assets
Cash and cash equivalents - unrestricted 483,267,616$
Cash and cash equivalents - restricted 33,257,761
Accounts receivable, net of allowance 86,203,118
Accrued revenue 46,910,967
Prepaid expenses 3,746,063
Other receivables 10,310,389
Deposits 1,376,150
Investments 85,399,421
Total current assets 750,471,485
Noncurrent assets
Cash and cash equivalents - restricted 17,440,848
Investments 113,722,849
Capital assets, net of depreciation and amortization 1,054,288 Total noncurrent assets 132,217,985
Total assets 882,689,470
Current liabilities
Accrued cost of electricity 95,751,720
Accounts payable 4,617,914
Other accrued liabilities 4,550,674
State surcharges payable 352,866
Deposits - energy suppliers 383,731
Lease liability 672,679
Advances from grantors 50,051,609
Total current liabilities 156,381,193
Noncurrent liabilities
Deposits - energy suppliers 3,867,810
Total noncurrent liabilities 3,867,810
Total liabilities 160,249,003
Net investment in capital assets 381,609
Restricted for security collateral 647,000
Unrestricted 721,411,858
Total net position $ 722,440,467

NET POSITION

SAN DIEGO COMMUNITY POWER

STATEMENT OF NET POSITION
As of May 31, 2026
ASSETS

LIABILITIES
See accountants' compilation report. 2 36

OPERATING REVENUES
Electricity sales, net $ 1,121,742,662
Grant revenue 7,702,566
Liquidated damages revenue 2,348,023
Other income 709,544
Total operating revenues 1,132,502,795

OPERATING EXPENSES
Cost of electricity 848,069,281
Contract services 23,626,146
Staff compensation 19,059,327
Other operating expenses 11,528,289
Depreciation and amortization 816,794
Total operating expenses 903,099,837
Operating income 229,402,958

NON-OPERATING REVENUES (EXPENSES)
Investment income 16,972,947
Interest expense (167,602)
Nonoperating revenues (expenses), net 16,805,345
CHANGE IN NET POSITION 246,208,303
Net position at beginning of year 476,232,164
Net position at end of year 722,440,467$

SAN DIEGO COMMUNITY POWER

STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN NET POSITION
Eleven Months Ended May 31, 2026
See accountants' compilation report. 3 37

CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers 1,179,586,876$
Receipts from grantors 32,425,260
Receipts of supplier security deposits 29,860,990
Receipts from wholesale sales and other operating activities 6,324,960 Payments to suppliers for electricity (861,007,102)
Payments for other goods and services (34,026,452)
Payments for deposits and collateral (5,330,351)
Payments for staff compensation (17,634,933)
Payments of state surcharges (2,370,998)
Net cash provided by operating activities 327,828,250

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Lease payments (857,802)
Purchases of capital assets (553,540)
Net cash used by capital and related financing activities (1,411,342)

CASH FLOWS FROM INVESTING ACTIVITIES
Investment income received 16,344,758
Proceeds from investment sales and maturities of investments 9,404,723 Purchase of investments (137,285,240)
Net cash provided (used) by investing activities (111,535,759) Net change in cash and cash equivalents 214,791,979
Cash and cash equivalents at beginning of year 319,174,246 Cash and cash equivalents at end of year 533,966,225$
Reconciliation to the Statement of Net Position
Unrestricted cash and cash equivalents - current 483,267,616$ Restricted cash and cash equivalents - current 33,257,761 Restricted cash and cash equivalents - noncurrent 17,440,848 Cash and cash equivalents 533,966,225$

NONCASH INVESTING ACTIVITIES
Change in fair value of investments 179,113$
Change in interest income receivable 449,076$

SAN DIEGO COMMUNITY POWER

STATEMENT OF CASH FLOWS
Eleven Months Ended May 31, 2026
See accountants' compilation report. 4
38 Operating income 229,402,958$
Adjustments to reconcile operating income to net
cash provided by operating activities
Depreciation and amortization expense 816,794
(Increase) decrease in:

Accounts receivable, net 29,824,105
Accrued revenue 25,831,392
Prepaid expenses 20,056,072
Other receivables (5,761,322)
Deposits 9,718,061
Increase (decrease) in:

Accrued cost of electricity (6,450,446)
Accounts payable 806,942
Advances from grantors 24,795,895
Other accrued liabilities 2,390,719
State surcharges payable (182,280)
Deposits - energy suppliers (3,420,640)
Net cash provided by operating activities 327,828,250$

SAN DIEGO COMMUNITY POWER
STATEMENT OF CASH FLOWS (continued)
Eleven Months Ended May 31, 2026

RECONCILIATION OF OPERATING INCOME TO NET

CASH PROVIDED BY OPERATING ACTIVITIES
See accountants' compilation report. 5 39
1 ACCOUNTANTS’ COMPILATION REPORT

Board of Directors
San Diego Community Power
Management is responsible for the accompanying operating fund and capital investment program fund budgetary comparison schedules of San Diego Community Power (SDCP), a California Joint Powers Authority, for the eleven months ended May 31, 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.

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.

Accordingly, these financial statements are not designed for those who are not informed about such matters.

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

Maher Accountancy
San Rafael, CA
June 30, 2026
1101 Fifth Avenue, Suite 200 San Rafael, CA 94901 415 459 1249 mahercpa.com 40 Amended
Budget Actual
Amended
Budget Variance
(Under) Over
Actual/
Amended
Budget %
Amended
Budget
Amended
Budget
Remaining

REVENUES AND OTHER SOURCES
Gross Ratepayer Revenues 1,107,246,000$ 1,138,825,038$ 31,579,038$ 103% 1,194,789,000$ 55,963,962$ Less: Uncollectible Customer Accounts (17,937,000) (17,082,376) 854,624 95% (19,370,000) (2,287,624) Other Income - 3,057,567 3,057,567 na - (3,057,567)
Total Revenues and Other Sources 1,089,309,000 1,124,800,229 35,491,229 1,175,419,000 50,618,771

OPERATING EXPENSES
Cost of Energy 898,112,000 848,069,281 (50,042,719) 94% 969,917,000 121,847,719 Professional Services and Consultants 21,463,000 17,097,910 (4,365,090) 80% 23,414,000 6,316,090 Personnel Costs 17,978,000 17,585,971 (392,029) 98% 19,612,000 2,026,029 Marketing and Outreach 2,124,000 1,901,869 (222,131) 90% 2,317,000 415,131 General & Administrative 4,260,000 4,218,496 (41,504) 99% 4,648,000 429,504 Total Operating Expenses 943,937,000 888,873,527 (55,063,473) 1,019,908,000 131,034,473 Operating Income (Loss) 145,372,000 235,926,702 90,554,702 155,511,000 (80,415,702)

NON-OPERATING REVENUES (EXPENSES)
Investment Income 16,770,000 16,972,947 202,947 101% 18,295,000 1,322,053 Interest and Related Expenses (1,389,000) (1,696,275) (307,275) 122% (1,515,000) 181,275 Transfer to Capital Investment Program (21,881,000) (21,881,000) - 100% (21,881,000) - Total Non-Operating Revenues (Expenses) (6,500,000) (6,604,328) (104,328) (5,101,000) 1,503,328 NET CHANGE 138,872,000$ 229,322,374$ 90,450,374$ 150,410,000$ (78,912,374)$

SAN DIEGO COMMUNITY POWER

BUDGETARY COMPARISON SCHEDULE
Eleven Months Ended May 31, 2026

OPERATING FUND
Year-to-Date Annual
See accountants' compilation report. 41
Annual
Amended
Budget YTD Actual
Amended
Budget
Remaining

REVENUES AND OTHER SOURCES
Transfer in from Operating Fund 21,881,000$ 21,881,000$ -$ Grant Revenue - SDREN 31,868,547 7,008,004 (24,860,543) Grant Revenue - CDFA Efficient Refrigeration Pilot - 694,563 694,563 Grant Revenue - DAC 589,822 - (589,822)
Total Revenue and Other Sources 54,339,369 28,889,004 (25,450,365)

EXPENDITURES AND OTHER USES
Program Expenditures 54,628,369 12,729,476 (41,898,893)$ Net increase (decrease) in fund balance (289,000)$ 16,159,528 Fund balance at beginning of period 10,340,567
Fund balance at end of period 26,500,095$

BUDGETARY COMPARISON SCHEDULE
Eleven Months Ended May 31, 2026

CAPITAL INVESTMENT PROGRAM FUND
See accountants' compilation report. 42
Glossary
AB – Assembly Bill: An Assembly Bill is a piece of legislation that is introduced in the Assembly. In other words, the Assembly (rather than the Senate) is the bill’s house of origin in the Legislature. In California, it is common for legislation to be referred to by its house of origin number even after it becomes law. However, because bill numbers “reset” and start again from 1 in each legislative session, it is less confusing to include chapter and statute information when referring to a bill that has become law; for example, SB 350 (Chapter 547, Statutes of 2015).

AL - Advice Letter: An Advice Letter is a request by a California Public Utilities Commission (CPUC) jurisdictional entity for Commission approval, authorization or other relief.

ALJ – Administrative Law Judge: ALJs preside over CPUC cases to develop the evidentiary record and draft proposed decisions for Commission action.

ARB – Air Resources Board: The California Air Resources Board (CARB or ARB) is the “clean air agency” in the state government of California. CARB is charged with protecting the public from the harmful effects of air pollution and developing programs and actions to fight climate change.

AReM – Alliance for Retail Energy Markets: AReM is a not-for-profit corporation that advocates for continued development of successful customer choice in retail energy markets and provides a focused voice for competitive energy retailers and their customers in select public policy forums at the state level. It represents direct access providers such as Constellation NewEnergy and Direct Energy.

BayREN – Bay Area Regional Energy Network: BayREN offers regionwide energy programs, services and resources to members of the public by promoting energy efficient buildings, reducing carbon emissions and building government capacity.

CAISO – California Independent System Operator: CAISO is a nonprofit public benefit corporation that oversees the operation of the California bulk electric power system, transmission lines and electricity market generated and transmitted by its members (approximately 80% of California’s electric flow). Its stated mission is to “operate the grid reliably and efficiently, provide fair and open transmission access, promote environmental stewardship and facilitate effective markets and promote infrastructure development.” CAISO is regulated by the Federal Energy Regulatory Commission (FERC) and governed by a five-member governing board appointed by the governor.

CalCCA – California Community Choice Association: CalCCA is a statewide association, made up of Community Choice Aggregators (CCAs), that represents the interests of California’s community choice electricity providers.
1 43
CALSEIA – California Solar Energy Industries Association: CALSEIA represents more than 200 companies doing solar-related business in California, including manufacturers, distributors, installation contractors, consultants and educators. Members’ annual dues support professional staff and a lobbyist who represents the common interests of California’s solar industry at the Legislature, Governor’s Office and state and local agencies.

CALSLA – California City-County Street Light Association: CALSLA is a statewide association representing cities, counties and towns before the CPUC that is committed to maintaining fair and equitable streetlight electricity rates and facilities charges and disseminating streetlight-related information.

CAM – Cost Allocation Mechanism: CAM is the cost recovery mechanism to cover procurement costs incurred in serving the central procurement function.

CARB – California Air Resources Board: The CARB is charged with protecting the public from the harmful effects of air pollution and developing programs and actions to fight climate change in California.

CARE – California Alternative Rates for Energy: CARE is a state program for low-income households that provides a 30% discount on monthly energy bills and a 20% discount on natural gas bills. It is funded through a rate surcharge paid by all other utility customers.

CBE – Communities for a Better Environment: CBE is an environmental justice organization that was founded in 1978. The mission of CBE is to build people’s power in California’s communities of color and low-income communities to achieve environmental health and justice by preventing and reducing pollution and building green, healthy and sustainable communities and environments.

CCA – Community Choice Aggregator: A community choice aggregator, sometimes referred to as community choice aggregation, is an entity of local governments that procure power on behalf of their residents, businesses and municipal accounts from an alternative supplier while still receiving transmission and distribution service from their existing utility provider. CCAs are an attractive option for communities that want more local control over their electricity sources, more green power than is offered by the default utility, and/or lower electricity prices. By aggregating demand, communities gain leverage to negotiate better rates with competitive suppliers and choose greener power sources.

CCSF – City and County of San Francisco: The City and County of San Francisco often engage in joint advocacy before the CPUC. San Francisco operates CleanPowerSF, a CCA.

CEC – California Energy Commission: The CEC is the primary energy policy and planning agency for California, whose core responsibilities include advancing state energy policy, achieving energy efficiency, investing in energy innovation, developing renewable energy, transforming transportation, overseeing energy infrastructure and preparing for energy emergencies.

CEE – Coalition for Energy Efficiency: CEE is a nonprofit composed of U.S. and Canadian energy-efficiency administrators working together to accelerate the development and availability of energy-efficient products and services.
2 44
CLECA – California Large Energy Consumers Association: CLECA is an organization of large, high-load factor industrial customers located throughout the state; its members are in the cement, steel, industrial gas, pipeline, beverage, cold storage, food packaging and mining industries and their electricity costs comprise a significant portion of their costs of production. Some members are bundled customers, others are Direct Access (DA) customers, and some are served by Community Choice Aggregators (CCAs); a few members have onsite renewable generation.

CPUC – California Public Utility Commission: The CPUC is a state agency that regulates privately owned electric, natural gas, telecommunications, water, railroad, rail transit and passenger transportation companies, in addition to authorizing video franchises.

C&I – Commercial and Industrial: C&I customers are business customers who generally consume much higher volumes of electricity and gas. Many utilities segment their C&I customers by energy consumption (small, medium and large).

CP – Compliance Period: A Compliance Period is the time period to become Renewables Portfolio Standard (RPS) compliant, set by the California Public Utilities Commission (CPUC).

DA – Direct Access: Direct Access is an option that allows eligible customers to purchase their electricity directly from third-party providers known as Electric Service Providers (ESPs).

DA Cap: The DA Cap is the maximum amount of electric usage that may be allocated to Direct Access customers in California or, more specifically, within an investor-owned utility service territory.

DACC – Direct Access Customer Coalition: DACC is a regulatory advocacy group composed of educational, governmental, commercial and industrial customers that utilize direct access for all or a portion of their electrical energy requirements.

DA Lottery: The DA Lottery is a random drawing by which DA waitlist customers become eligible to enroll in DA service under the currently applicable Direct Access Cap.

DA Waitlist: The DA Waitlist consists of customers that have officially registered their interest in becoming a DA customer but are not yet able to enroll in service because of DA cap limitations.

DAC – Disadvantaged Community: “Disadvantaged communities” refers to the areas throughout California that most suffer from a combination of economic, health and environmental burdens.

These burdens include poverty, high unemployment, air and water pollution and the presence of hazardous wastes as well as high incidences of asthma and heart disease. One way that the state identifies these areas is by collecting and analyzing information from communities statewide.

CalEnviroScreen, an analytical tool created by the California Environmental Protection Agency (CalEPA), combines different types of census tract-specific information into a score to determine which communities are the most burdened or “disadvantaged.” DASR – Direct Access Service Request: DASR is a request submitted by C&I customers to become direct access eligible.
3 45
Demand: Demand refers to the rate at which electric energy is delivered to or by a system or part of a system, generally expressed in kilowatts (kW), megawatts (MW) or gigawatts (GW), at a given instant or averaged over any designated interval of time. Demand should not be confused with Load or Energy.

DER – Distributed Energy Resource: A DER is a small-scale physical or virtual asset (e.g., EV charger, smart thermostat, behind-the-meter solar/storage, energy efficiency) that operates locally and is connected to a larger power grid at the distribution level.

Distribution: Distribution refers to the delivery of electricity to the retail customer’s home or business through low-voltage distribution lines.

DLAP – Default Load Aggregation Point: In the CAISO’s electricity optimization model, DLAP is the node at which all bids for demand should be submitted and settled.

DR – Demand Response: DR is an opportunity for consumers to play a significant role in the operation of the electric grid by reducing or shifting their electricity usage during peak periods in response to time-based rates or other forms of financial incentives.

DRP – Distributed Resource Plans: Distributed Resource Plans are required by statute and intended to identify optimal locations for the deployment of distributed resources.

DWR – Department of Water Resources: DWR is the state agency charged with managing California’s water resources, systems and infrastructure in a responsible, sustainable way.

ECR – Enhanced Community Renewable: ECR is an IOU (Investor-Owned Utility) program that reflects the “Community Solar” model of renewable energy purchasing. Customers sign up to purchase a portion of a local solar project directly from a developer at a level that meets at least 25% and up to 100% of their monthly electricity demand. The customer pays the developer for the subscribed output and receives a credit on their utility bill that reflects their enrollment level.

ED – Energy Division: The CPUC’s Energy Division develops and administers energy policy and programs to serve the public interest, advise the Commission and ensure compliance with Commission decisions and statutory Mandates.

EE – Energy Efficiency: Energy Efficiency refers to the use of less energy to perform the same task or produce the same result. Energy-efficient homes and buildings use less energy to heat and cool and run appliances and electronics, and energy-efficient manufacturing facilities use less energy.

ELCC – Effective Load Carrying Capacity: ELCC is the additional load met by an incremental generator while maintaining the same level of system reliability. For solar and wind resources, the ELCC is the amount of capacity that can be counted for Resource Adequacy purposes.

EPIC – Electric Program Investment Charge: The EPIC program was created by the CPUC to support investments in clean energy technologies that provide benefits to the electricity ratepayers of Pacific Gas and Electric (PG&E), San Diego Gas & Electric Company (SDG&E) and Southern California Edison Company (SCE).
4 46
ERRA – Energy Resource Recovery Account: ERRA proceedings are used to determine fuel and purchased power costs that can be recovered in rates. The utilities do not earn a rate of return on these costs and recover only actual costs. The costs are forecast for the year ahead. If the actual costs are lower than forecast, then the utility gives money back, and vice versa.

ES – Energy Storage: Energy Storage is the capture of energy produced at one time for use at a later time to reduce imbalances between energy demand and energy production.

ESA – Energy Storage Agreement: An ESA refers to a battery services contract, a capacity contract, demand response contract or similar agreement.

ESP – Energy Service Provider: An Energy Service Provider is an energy entity that provides service to a retail or end-use customer.

EV – Electric Vehicle: An EV is a vehicle that uses one or more electric motors for propulsion.

FCR – Flexible Capacity Requirements: “Flexible capacity need” is defined as the quantity of resources needed by the CAISO to manage grid reliability during the greatest three-hour continuous ramp in each month. Resources will be considered as “flexible capacity” if they can sustain or increase output or reduce ramping needs during the hours of “flexible need.” FCR means the flexible capacity requirements established for LSEs by the CPUC pursuant to the CPUC decisions.

GHG – Greenhouse gas: Water vapor, carbon dioxide, tropospheric ozone, nitrous oxide, methane and chlorofluorocarbons (CFCs) are gases that cause the atmosphere to trap heat radiating from the earth. The most common GHG is carbon dioxide.

GRC – General Rate Case: General Rate Cases are proceedings used to address the costs of operating and maintaining the utility system and the allocation of those costs among customer classes. For California’s three large IOUs, the GRCs are parsed into two phases. Phase I of a GRC determines the total amount the utility is authorized to collect, while Phase II determines the share of the cost each customer class is responsible for and the rate schedules for each class. Each large electric utility files a GRC application every three years for review by the Public Advocate’s Office and interested parties and for approval by the CPUC.

GTSR – Green Tariff Shared Renewables: The GTSR program enables customers to receive 50 to 100 percent of their electricity demand from renewable sources. The GTSR program has two components:
the Green Tariff (GT) component and the Enhanced Community Renewables (ECR) component.

Through GT, a customer may pay the difference between their current generation charge and the cost of procuring 50 to 100 percent renewables. With ECR, a customer agrees to purchase a share of a community renewable (typically solar) project directly from a developer and in exchange will receive a credit from their utility for the customer’s avoided generation procurement.

GWh – Gigawatt-hour: This is the unit of energy equal to that expended in one hour at a rate of one billion watts. One GWh equals 1,000 megawatt-hours.
5 47
ICA – Integration Capacity Analysis: The enhanced integrated capacity and locational net benefit analysis quantify the capability of the system to integrate Distributed Energy Resources (DERs) within the distribution system. Results are dependent on the most limiting element of the various power system criteria such as thermal ratings, power quality, system protection limits and safety standards of existing equipment.

IDER – Integrated Distributed Energy Resources: A CPUC proceeding that aims to more effectively coordinate the integration of demand-side resources in order to better meet customer and grid needs, while enabling California to attain its greenhouse gas reduction goals.

IDSM – Integrated Demand-Side Management: This is an approach that joins together all the resources utilities have at their disposal to plan, generate and supply electricity in the most efficient manner possible.

IEPA – Independent Energy Producers Association: IEPA is California’s oldest and leading nonprofit trade association, representing the interest of developers and operators of independent energy facilities and independent power marketers.

IMD – Independent Marketing Division: Under state law, IOUs are prohibited from lobbying or marketing on community choice unless the IOU forms an independent marketing division funded by shareholders rather than ratepayers. SDG&E and its parent company Sempra were permitted by the CPUC to create such an independent marketing division, which allowed SDG&E to lobby against plans to create a CCA program.

IOU – Investor-Owned Utility: An IOU is a private electricity and natural gas provider, such as SDG&E, PG&E or SCE, which are the three largest IOUs in California.

IRP – Integrated Resource Plan: An Integrated Resource Plan outlines an electric utility’s resource needs in order to meet expected electricity demand long-term. kW – Kilowatt: This is a measure of power where power (watts) = voltage (volts) x amperage (amps) and 1 kW = 1,000 watts.
kWh – Kilowatt-hour: This is a measure of consumption. It is the amount of electricity that is used over some period of time, typically a one-month period for billing purposes. Customers are charged a rate per kWh of electricity used.

LCE – Lancaster Choice Energy: LCE is the CCA that serves the City of Lancaster, California.

LCFS – Low Carbon Fuel Standard: This is a CARB program designed to encourage the use of cleaner low-carbon fuels in California, encourage the production of those fuels and, therefore, reduce greenhouse gas emissions.

LCR – Local (RA) Capacity Requirements: This is the amount of Resource Adequacy capacity required to be demonstrated in a specific location or zone.
6 48
LMP – Locational Marginal Price: Each generator unit and load pocket is assigned a node in the CAISO optimization model. The model will assign a LMP to the node in both the day-ahead and real-time market as it balances the system using the least cost. The LMP is composed of three components: the marginal cost of energy, congestion and losses. The LMP is used to financially settle transactions in the CAISO.

LNBA – Locational Net Benefits Analysis: This is a cost-benefit analysis of distributed resources that incorporates location-specific net benefits to the electric grid.

Load: Load refers to an end-use device or customer that receives power from an energy delivery system. Load should not be confused with Demand, which is the measure of power that a load receives or requires. See Demand.

LSE – Load-serving Entity: Load-serving Entities have been granted authority by state, local law or regulation to serve their own load directly through wholesale energy purchases and have chosen to exercise that authority.

LTPP – Long-Term Procurement Rulemaking: This is an “umbrella” proceeding to consider, in an integrated fashion, all of the CPUC’s electric procurement policies and Programs.

MCE – Marin Clean Energy: MCE was the first CCA in California and began serving customers in 2010.

It serves customers in Contra Costa, Marin, Napa and Solano counties in Northern California.

MEO – Marketing Education and Outreach: This is a term generally used to describe various strategies to inform customers, such as to motivate consumers to take action on energy efficiency or conservation measures and change their behavior.

MW – Megawatt: A megawatt hour (Mwh) is equal to 1,000 Kilowatt hours (Kwh) or 1,000 kilowatts of electricity used continuously for one hour.

MWH – Megawatt-hour: This is a measure of energy.

NAESCO – National Association of Energy Service Companies: NAESCO is an advocacy and accreditation organization for energy service companies (ESCOs). Energy service companies contract with private and public-sector energy users to provide cost-effective energy efficiency retrofits across a wide spectrum of client facilities.

NBC – Non-Bypassable Charge: Non-Bypassable Charges are fees that are paid on every kilowatt-hour of electricity that is consumed from the grid. These charges can be used to fund things like energy assistance programs for low-income households and energy efficiency programs. These charges apply even if customers buy grid-supplied power from an outside power company such as a CCA.

NDA – Non-Disclosure Agreement: An NDA is a contract by which one or more parties agree not to disclose confidential information that they have shared with each other. 7 49
NEM – Net Energy Metering: NEM is a program in which solar customers receive credit for excess electricity generated by solar panels.

NRDC – Natural Resources Defense Council: NRDC is a nonprofit international environmental advocacy group.

NP-15 – North Path 15: NP-15 is a CAISO pricing zone usually used to approximate wholesale electricity prices in Northern California in PG&E’s service territory.

OIR – Order Instituting Rulemaking: An OIR is a procedural document that is issued by the CPUC to start a formal proceeding. A draft OIR is issued for comment by interested parties and made final by vote of the five commissioners of the CPUC.

OSC – Order to Show Cause: OSC is an order requiring an individual or entity to explain, justify or prove something.

ORA – Office of Ratepayer Advocates: The ORA is an independent consumer advocate within the CPUC, now called the Public Advocates Office.

PA – Program Administrator (for EE Business Plans): IOUs and local government agencies can be authorized to implement CPUC-directed energy efficiency programs.

PCE – Peninsula Clean Energy Authority: PCE is the CCA serving San Mateo County and all 20 of its cities and towns as well as the City of Los Banos.

PCC1 – RPS Portfolio Content Category 1: RPS Portfolio Content Category 1 includes bundled renewables where the energy and Renewable Energy Certificate (REC) are dynamically scheduled into a California Balancing Authority (CBA) such as the CAISO, also known as “in-state” renewables.

PCC2 – RPS Portfolio Content Category 2: RPS Portfolio Content Category 2 includes bundled renewables where the energy and Renewable Energy Certificate (REC) are from out of state and not dynamically scheduled to a CBA.

PCC3 – RPS Portfolio Content Category 3: RPS Portfolio Content Category 3 includes Unbundled Renewable Energy Certificate (REC).

PCIA or “exit fee” – Power Charge Indifference Adjustment: The Power Charge Indifference Adjustment (PCIA) is an “exit fee” based on stranded costs of utility generation set by the California Public Utilities Commission. It is calculated annually and assessed to customers of CCAs and paid to the IOU that lost those customers as a result of the formation of a CCA.

PCL – Power Content Label: The PCL is a user-friendly way of displaying information to California consumers about the energy resources used to generate the electricity they sell, as required by AB 162 (Chapter 313, Statutes of 2009) and SB 1305 (Chapter 796, Statutes of 1997). 8 50
PD – Proposed Decision: A PD is a procedural document in a CPUC Rulemaking that is formally commented on by parties to the proceeding. A PD is a precursor to a final decision voted on by the five commissioners of the CPUC.

PG&E – Pacific Gas & Electric: PG&E is the IOU that serves 16 million people over a 70,000-square-mile service area in Northern California.

PHC – Prehearing Conference: A PHC is a CPUC hearing to discuss the scope of a proceeding, among other matters. Interested stakeholders can request party status during these conferences.

Pnode – Pricing Node: In the CAISO optimization model, this is a point where a physical injection or withdrawal of energy is modeled and for which an LMP is calculated.

PPA – Power Purchase Agreement: A PPA is a contract used to purchase the energy, capacity and attributes from a renewable resource project.

PRP – Priority Review Project: These are transportation electrification pilot projects approved by the CPUC pursuant to SB 350 (Chapter 547, Statutes of 2015).

PRRR – Progress on Residential Rate Reform: Pursuant to a CPUC decision, the IOUs must submit to the CPUC and other parties periodic updates on the progress of their efforts to assist customers with residential rate design changes related to rate reform, including tier collapse and transition to a default time of use rate.

PUC – Public Utilities Code: The PUC is a California statute that contains 33 divisions; the range of topics within this code includes natural gas restructuring, private energy producers, telecommunication services, and specific municipal utility districts and transit authorities; the primary statute for governance of utilities as well as CCAs in California.

PURPA – Public Utilities Regulatory Policy Act: The PURPA is a federal statute passed in 1978 by Congress in response to the 1973 energy crisis to encourage fuel diversity via alternative energy sources and to introduce competition into the electric sector. It was intended to promote energy conservation (reduce demand) and promote greater use of domestic energy and renewable energy (increase supply).

RA – Resource Adequacy: Under its Resource Adequacy (RA) program, the California Public Utilities Commission (CPUC) requires load-serving entities — investor-owned utilities, electricity service providers and CCAs — to demonstrate in both monthly and annual filings that they have purchased capacity commitments of no less than 115% of their peak loads.

RAM – Renewables Auction Mechanism: This is a procurement program the investor-owned utilities (IOUs) may use to procure RPS eligible generation. The IOUs may use RAM to satisfy authorized procurement needs, for example, system Resource Adequacy needs, local Resource Adequacy needs, RPS needs, reliability needs, Local Capacity Requirements, Green Tariff Shared Renewables needs and any need arising from commission or legislative mandates. 9 51
RE – Renewable Energy: Renewable energy is energy from a source that is not depleted when used, such as wind or solar power.

REC - Renewable Energy Certificate: A REC is the property right to the environmental benefits associated with generating renewable electricity. For instance, homeowners who generate solar electricity are credited with 1 solar REC for every megawatt-hour of electricity they produce. Utilities obligated to fulfill an RPS requirement can purchase these RECs on the open market.

RES-BCT – Renewables Energy Self-Generation Bill Credit Transfer: This program enables local governments and universities to share generation credits from a system located on one government-owned property with billing accounts at other government-owned properties. The system size limit under RES-BCT is 5 MW, and bill credits are applied at the generation-only portion of a customer’s retail rate.

RFO – Request for Offers: This is a competitive procurement process used by organizations to solicit the submission of proposals from interested parties in response to a scope of services.

RPS - Renewable Portfolio Standard: RPS is a law that requires California utilities and other load-serving entities (including CCAs) to provide an escalating percentage of California qualified renewable power (culminating at 33% by 2020) in their annual energy portfolio.

SB – Senate Bill: A Senate Bill is a piece of legislation that is introduced in the Senate. In other words, the Senate, rather than the Assembly, is the house of origin in the Legislature for the Legislation.

SBP – Solar Billing Plan: The Solar Billing Plan, also known as the Net Billing Tariff or NEM 3.0, is the new method of compensating customer-sited renewable energy self-generation, intended to promote grid reliability and incentivize solar and battery storage.

SCE – Southern California Edison: SCE is the large IOU that serves the Los Angeles and Orange County area.

SCP – Sonoma Clean Power Authority: SCP is the CCA serving Sonoma County and surrounding areas in Northern California.

SDG&E – San Diego Gas & Electric: SDG&E is the IOU that serves San Diego County and owns the infrastructure that delivers Community Power energy to our customers.

SGIP – Self-Generation Incentive Program: SGIP is a program that provides incentives to support existing, new and emerging distributed energy resources (storage, wind turbines, waste heat to power technologies, etc.).

SUE – Super User Electric: This is an electric surcharge intended to penalize consumers for excessive energy use.

SVCE – Silicon Valley Clean Energy: SVCE is the CCA serving the communities in Santa Clara County. 10 52
TCR EPS Protocol – The Climate Registry Electric Power Sector Protocol: This refers to online tools and resources provided by The Climate Registry to assist organizations to measure, report and reduce carbon emissions.

TE – Transportation Electrification: For the transportation sector, electrification means replacing fossil fuels with electricity as the means of powering light-duty vehicles and medium- and heavy-duty trucks and buses. The primary goal is to reduce greenhouse gas (GHG) emissions and, ultimately, contribute to mitigating the effects of climate change on the planet.

Time-of-Use (TOU) Rates: TOU Rates refers to the pricing of delivered electricity based on the estimated cost of electricity during a particular time block. Time-of-use rates are usually divided into three or four time blocks per 24 hour period (on-peak, mid-peak, off-peak and sometimes super off-peak) and by seasons of the year (summer and winter). Real-time pricing differs from TOU rates in that it is based on actual (as opposed to forecasted) prices that may fluctuate many times a day and are weather sensitive, rather than varying with a fixed schedule.

TM – Tree Mortality: This is a term that refers to the death of forest trees and provides a measure of forest health. In the context of energy, as part of the Governor’s Tree Mortality Emergency Proclamation, the CPUC is tasked with utilizing its authority to extend contracts and take actions to authorize new contracts on bioenergy facilities that receive feedstock from high hazard zones.

TURN – The Utility Reform Network: TURN is a ratepayer advocacy group charged with ensuring that California IOUs implement just and reasonable rates.

Unbundled RECs: Unbundled RECs are renewable energy certificates that verify a purchase of a MWH unit of renewable power where the actual power and the certificate are “unbundled” and sold to different buyers.

VPP – Virtual Power Plant: A Virtual Power Plant is a cloud-based network that leverages an aggregation of distributed energy resources (DERs) to shift energy demand or provide services to the grid. For example, thousands of EV chargers could charge at a slower speed and hundreds of home batteries could discharge to the grid during a demand peak to significantly reduce the procurement of traditional supply resources.

VAMO – Voluntary Allocation, Market Offer: VAMO is the process for SDG&E to allocate a proportional share of its renewable portfolio to Community Power and other LSEs within the service territory.
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San Diego Community Power Finance and Risk Management CommitteeAugust 20, 2026

San Diego Community Power Finance and Risk Management Committee
August 20, 2026