Silicon Valley Clean Energy Authority
Board of Directors Meeting
Wednesday, August 14, 2024
7:00 pm
Cupertino Community Hall
10350 Torre Avenue
Cupertino, CA
Gilroy City Hall
Administration Conference Room
7351 Rosanna St.
Gilroy, CA
Milpitas Police Department
1275 N. Milpitas Blvd
Milpitas, CA
Morgan Hill City Hall
17575 Peak Ave.
Morgan Hill, CA 95037
MEETING MINUTES
Call to Order:
Chair Walia called the meeting to order at 7:00 p.m.
Roll Call
Present:
Tina Walia (Chair), Saratoga
George Tyson (Vice Chair), Los Altos Hills
Elliot Scozzola, Campbell
Sheila Mohan, Cupertino
Zach Hilton, Gilroy (participated remotely)
Evelyn Chua, Milpitas (participated remotely, arrived at 7:01 p.m.) Yvonne Martinez Beltran, Morgan Hill (participated remotely) Pat Showalter, Mountain View
Larry Klein, Sunnyvale
Otto Lee, Santa Clara County
Absent:
Sally Meadows, Los Altos
Rob Rennie, Los Gatos
Bryan Mekechuk, Monte Sereno
Docusign Envelope ID: 694ADBAA-CCDF-4831-85B9-75B6015D15F7
Public Comment on Matters Not Listed on the Agenda
Bruce Karney, Chair of Carbon Free Mountain View, on behalf of Carbon Free Mountain View and Carbon Free Silicon Valley, presented a five-timer award to Vice Chair George Tyson for his fifth year serving on the SVCE Board of Directors.
James Tuleya, Sunnyvale resident, provided information on the HomeIntel energy savings program at Home Energy Analytics which is available to all PG&E and CCA customers.
Consent Calendar
There were no questions or comments from the Board; there were no requests from the public to speak on any matter on the Consent Calendar.
1a) Approve Minutes of the June 12, 2024, Board of Directors Meeting 1b) Approve Minutes of the June 25, 2024, Board of Directors Special Meeting 1c) Receive June 2024 Treasurer Report
1d) Receive FY24 Q3 Decarbonization Strategy and Programs Quarterly Report 1e) Authorize the Chief Executive Officer to Execute Amendment to Agreement with Ascend Analytics to Extend the Term from September 31, 2024 Through March 31, 2025 and Increase the Not to Exceed Amount from $1,311,754 to $1,426,944 for Portfolio Management Consulting Services
1f) Authorize the Chief Executive Officer to Execute Amendment to Agreement with ev.energy to Extend the Term from May 13, 2025 Through December 31, 2025 and Increase the Not to Exceed Amount from $650,000 to $973,000 for GridShift: EV Charging Program 1g) Authorize the Chief Executive Officer to Submit a Letter of Commitment to the City of San Jose Confirming the Authority’s Participation as a Subrecipient in a Charging and Fueling Infrastructure Grant Application and to Negotiate and Execute Documents Necessary to Administer the Grant if the Application is Awarded
1h) Receive July 2024 Update for All Retail Rates
1i) Authorize the Chief Executive Officer to Execute a Three-Year Agreement with J.D. Power for a Total Not to Exceed Amount of $284,000 for the EV Finder Tool on the SVCE eHub 1j) Authorize the Chief Executive Officer to Execute an Amended and Restated Agreement with Richards, Watson, & Gershon to Extend the Term from September 30, 2024 Through September 30, 2025 and Increase the Not to Exceed Amount from $215,000 to $430,000 for Legal Services
1k) Authorize the Chief Executive Officer to Execute Amendment to Agreement with Camus Energy to Extend the Term from September 9, 2024 Through September 8, 2025 and Increase the Not to Exceed Amount from $488,000 to $664,000 to Continue Data Analytics Platform Services 1l) Adopt Resolution Allowing for an Exception to the Board-adopted Energy Risk Management Policy Delegating Authority to the Chief Executive Officer to Execute Necessary Agreements for Mid-Term Reliability Bridge Capacity to Meet Compliance Obligations 1m) Adopt Resolution Amending SVCE Conflict of Interest Code to Add Multiple Positions 1n) Receive 2024 Legislative Responses to Industry Transition Ad Hoc Committee Report 1o) Receive Executive Committee Report
1p) Receive Finance and Administration Committee Report 1q) Receive California Community Power Report
Docusign Envelope ID: 694ADBAA-CCDF-4831-85B9-75B6015D15F7
1r) Receive Audit Committee Report
MOTION: Director Lee moved and Director Mohan seconded the motion to approve the Consent Calendar, Items 1a through 1r.
The motion carried by verbal roll call vote with Directors Meadows, Rennie, Chua and Mekechuk absent.
Regular Calendar
2) CEO Report (Informational)
CEO Monica Padilla reported the following:
1) Introduction of Elisa Floyd, Legislative and Government Affairs intern, who provided brief welcome comments;
2) Citlalli Sandoval, Senior Regulatory Advisor, provided an update on the CPUC’s Timely Energization Proceeding. Due to technical difficulties, CEO Padilla completed the report; and 3) Bena Chang, Director of Government and Legislative Affairs, provided an update on the Climate Bond.
Staff responded to questions from board members on the Climate Bond.
Chair Walia opened Public Comment.
No speakers.
Chair Walia closed Public Comment.
3) Authorize the Chief Executive Officer to Execute an Agreement with Energy Solutions for Advisory, Oversight, and Evaluation Support of a Residential Accessible On-Bill Financing Pilot through 2026; and Execute an Agreement with Franklin Energy Services, LLC for a Not to Exceed Amount of $7.87 million, with a net SVCE contribution of $5.2 million for On-Bill Financing Pilot Implementation through 2035 (Action)
Justin Zagunis, Director of Decarbonization Programs and Policy, introduced the item. Jessamyn Allen, Programs Lead, introduced Bruce Mast, independent consultant, and presented the recommendation to the Board of Directors to authorize CEO Padilla to execute agreements for implementation of an On-Bill Financing pilot.
The presentation included information on:
• Decarbonizing existing homes;
• Covering costs of electrification;
• Typical project costs to customers with rebates;
• Background info on SVCE’s On-Bill Financing and its importance; • The customer journey for someone participating in the on-bill financing pilot; • Proposed vendors that would assist with financing and implementation; • The pilot budget, which totaled $7,870,000;
• Risk considerations; and
• Finance pilot timeline.
Staff and Mr. Mast responded to questions from the Board of Directors regarding potential program candidates, loan payback periods, customer bill savings, anticipated repayment rate, single family homeowners versus rental property participants, dramatic load changes and if participants would be notified of the change, program length and tracking learnings from the pilot, other similar CCA financing pilots, and customer engagement.
Chair Walia opened Public Comment.
Docusign Envelope ID: 694ADBAA-CCDF-4831-85B9-75B6015D15F7
Bruce Karney commented he was happy with the item and encouraged the Board of Directors to support staff’s recommendation.
Chair Walia closed Public Comment.
MOTION: Director Scozzola moved and Director Lee seconded the motion to authorize the Chief Executive Officer to Execute agreements with non-substantive changes approved by the CEO and subject to final review and approval by General Counsel:
• Cohen Ventures, Inc. dba Energy Solutions (“Energy Solutions”) for on-bill financing pilot advisory & evaluation support through 2026 and Energy Solutions will be contributing $2.67 million, provided to SVCE, for implementing the pilot. • Franklin Energy Services, LLC for on-bill financing pilot implementation through 2035 and a not-to-exceed amount of $7.87 million, with a net SVCE contribution of $5.2 million The motion carried by verbal roll call vote with Directors Meadows, Rennie and Mekechuk absent. 4) Provide Feedback on the Fiscal Year 2024-25 Proposed Operating Budget, Staff Benefits Update, and Proposed Reserve Policy Targets (Discussion) Amrit Singh, CFO and Director of Administration, presented the preliminary budget for feedback. Key highlights of the budget included a positive financial year with a forecast year-over-year revenues decrease ~$112 million, a modest increase in power supply costs of about 6%, and contributions to reserves of $14 million. Other highlights included a recommendation to continue with a 4% discount with an additional 1% directed to low-income customers as bill credits to be revisited in December once PG&E rates were more certain, and an adjustment of employee compensation for the cost of living and merit and no additional full-time positions.
Topics covered in the presentation included:
• A proposed budget forecast;
• Revenue forecast uncertainty;
• Power supply cost review;
• Other operating expenses;
• Reserve targets review;
• Office space update, and
• Benefits upgrades
Staff responded to questions and comments from the Board of Directors which included: the building purchase/lease option, support for the addition of another holiday or floating holiday, hedging and risk assessments, budget approval process, parental leave, GHG reduction information timing, the focus on retention, and reserves.
Chair Walia opened Public Comment.
No speakers.
Chair Walia closed Public Comment.
Board Member Announcements and Future Agenda Items
Director Showalter thanked Dir. of Legislative and Government Affairs Bena Chang and Deputy Director of Decarbonization Programs and Policy Zoe Elizabeth for their involvement in updating National League of Cities' policy on local control in building electrification.
Docusign Envelope ID: 694ADBAA-CCDF-4831-85B9-75B6015D15F7
Adjourn
Chair Walia adjourned the meeting at 9:01 p.m.
ATTEST:
_____________________________
Andrea Pizano, Board Secretary
Docusign Envelope ID: 694ADBAA-CCDF-4831-85B9-75B6015D15F7