Agenda packet — Silicon Valley Clean Energy Board of Directors, September 11, 2024 (part 1 of 2)

Page 1 of 3 ends

Pursuant to the Americans with Disabilities Act, if you need special assistance in this meeting, please contact the Clerk for the Authority at (408) 721-5301 x1005. Notification 48 hours prior to the meeting will enable the Authority to make reasonable arrangements to ensure accessibility to this meeting. (28 CFR 35.105 ADA Title II).

Tina Walia, Chair
City of Saratoga
George Tyson, Vice Chair
Town of Los Altos Hills
Elliot Scozzola
City of Campbell
Sheila Mohan
City of Cupertino
Zach Hilton
City of Gilroy
Sally Meadows
City of Los Altos
Rob Rennie
Town of Los Gatos
Evelyn Chua
City of Milpitas
Bryan Mekechuk
City of Monte Sereno
Yvonne Martinez Beltran
City of Morgan Hill
Pat Showalter
City of Mountain View
Larry Klein
City of Sunnyvale
Otto Lee
County of Santa Clara
svcleanenergy.org
333 W El Camino Real
Suite 330
Sunnyvale, CA 94087
Silicon Valley Clean Energy Authority
Board of Directors Meeting
Wednesday, September 11, 2024
7:00 pm
Cupertino Community Hall
10350 Torre Avenue
Cupertino, CA
Milpitas Police Department
1275 N. Milpitas Blvd
Milpitas, CA
Morgan Hill City Hall
17575 Peak Ave.

Morgan Hill, CA 95037
2302 Zanker Road
San Jose, CA
Teleconference Meeting
Webinar:
https://cityofcupertino.zoom.us/j/96784791287
Telephone (Audio Only):

US: +1 669-900-6833
Webinar ID: 967 8479 1287
Members of the public may also attend this meeting in person, or observe this meeting electronically by accessing the meeting via instructions above. Public Comments can be sent in advance of the meeting via email up to three hours before the meeting begins to Board Clerk Andrea Pizano at [email protected] and will be distributed to the Board of Directors. The public will also have an opportunity to provide comments during the meeting. Members of the public participating remotely and using Zoom may comment during public comment or the applicable agenda item by using the Raise Hand feature and you will be recognized by the Chair. Those using the telephone (audio only) feature should press star 9 on your phones to initiate the “Raise Hand” function in Zoom. You will then be announced, unmuted, and your time to speak will begin.

The public may provide comments on any matter listed on the Agenda. Speakers are customarily limited to 3 minutes each, however, the Board Chair may increase or decrease the time allotted to each speaker based on the number of speakers, SILICON VALLEY <3/ CLEAN ENERGY

Page 2 of 3 ends

If you are an individual with a disability and need a reasonable modification or accommodation pursuant to the Americans with Disabilities Act (“ADA”) please contact Board Clerk Andrea Pizano at [email protected] prior to the meeting for assistance.

AGENDA
Call to Order
Roll Call
Public Comment on Matters Not Listed on the Agenda
The public may provide comments on any matter not listed on the Agenda provided that it is within the subject matter jurisdiction of SVCE. Speakers are customarily limited to 3 minutes each, however, the Board Chair may increase or decrease the time allotted to each speaker based on the number of speakers, the length of the agenda and the complexity of the subject matter. Speaking time will not be decreased to less than one minute.

Consent Calendar (Action)
1a) Approve Minutes of the August 14, 2024, Board of Directors Meeting 1b) Approve Minutes of the August 14, 2024, Board of Directors Special Meeting
1c) Receive July 2024 Treasurer Report
1d) Adopt Resolution Establishing October 2, 2024 as Clean Air Day 1e) Authorize the Chief Executive Officer to Execute a Two-Year Agreement with Braun Blaising Wynne P.C. (“BBW”) for a Not to Exceed Amount of $330,000 for Regulatory Legal Counsel Services
1f) Authorize the Chief Executive Officer to Execute an Agreement with Maher Accountancy Through September 30, 2025 for a Not to Exceed Amount of $298,500 for Accountant Services
1g) Receive Executive Committee Report
1h) Receive California Community Power Report
1i) Receive Additional Committee Reports
SILICON VALLEY <3/ CLEAN ENERGY

Page 3 of 3 ends

Tina Walia, Chair
City of Saratoga
George Tyson, Vice Chair
Town of Los Altos Hills
Elliot Scozzola
City of Campbell
Sheila Mohan
City of Cupertino
Zach Hilton
City of Gilroy
Sally Meadows
City of Los Altos
Rob Rennie
Town of Los Gatos
Evelyn Chua
City of Milpitas
Bryan Mekechuk
City of Monte Sereno
Yvonne Martinez Beltran
City of Morgan Hill
Pat Showalter
City of Mountain View
Larry Klein
City of Sunnyvale
Otto Lee
County of Santa Clara
svcleanenergy.org
333 W El Camino Real
Suite 330
Sunnyvale, CA 94087
Regular Calendar
2) CEO Report (Informational)
3) Adopt the Fiscal Year 2024-25 Recommended Operating Budget, Staff Benefits Update, and Updated Reserves Policy Targets (Action) 4) Adopt the Fiscal Year 2024-25 Strategic Focus Areas and Strategic Plan (Action)
5) Local Agency Action Planning (Informational)
6) Clean Pathways and 24x7 Study (Discussion)
Board Member Announcements and Direction on Future Agenda Items Public Comment on Closed Session
Closed Session

PUBLIC EMPLOYEE PERFORMANCE EVALUATION
Title: Chief Executive Officer

CONFERENCE WITH LABOR NEGOTIATORS
Agency designated representatives: Director Walia, Board Chair, and Director Tyson, Board Vice Chair
Unrepresented employee: Chief Executive Officer
Report from Closed Session
Adjourn
SILICON VALLEY <3/ CLEAN ENERGY
Revised: February 7, 2024
1 SVCE

GLOSSARY OF TERMS
BTM – Behind the Meter – Customer-sited resources which connect to the distribution system on the customer’s side of the utility’s meter. See also “DER”.

C&I – Commercial and Industrial – Business customers
CAISO – California Independent System Operator – a non-profit independent system operator that oversees the operation of the California bulk electric power system, transmission lines and electricity market generated and transmitted by its members (~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 FERC and governed by a five-member governing board appointed by the governor.

CALCCA – California Community Choice Association – Association made up of Community Choice Aggregation (CCA) groups which represents the interests of California’s community choice electricity providers.

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 Alternate Rates for Energy Program – A monthly discount of 20% or more on gas and electricity. Participants qualify through income guidelines or if enrolled in certain public assistance programs.

CEC – California Energy Commission
CCCFA – California Community Choice Financing Authority – The California Community Choice Financing Authority (CCCFA) was established in 2021 with the goal to reduce the cost of power purchases for member community choice aggregators (CCAs) through pre-payment structures. The founding members of CCCFA include Central Coast Community Energy, East Bay Community Energy, Marin Clean Energy, and Silicon Valley Clean Energy. CCCFA is a Joint Powers Authority which can help member CCAs save up to 10% or more on power purchase agreements, helping reduce costs for ratepayers and increase available funding for local programs.

CC Power – California Community Power – California Community Power is a Joint Powers Agency comprised of nine CCAs. CC Power allows its member CCAs to combine their buying power to procure new, cost-effective clean energy and reliability resources to continue advancing local and state climate goals.

CP – Compliance Period – Time period to become RPS compliant, set by the CPUC (California Public Utilities Commission)
DA – Direct Access – An option that allows eligible customers to purchase their electricity directly from third party providers known as Electric Service Providers (ESP).

Demand – 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.

DR – Demand Response – 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.
/T\ SILICON VALLEY <3/ CLEAN ENERGY
Silicon Valley Clean Energy Revised: February 7, 2024
2 DER – Distributed Energy Resource – A small-scale unit of power generation that operates locally and is connected to a larger power grid at the distribution level.

Distribution – The delivery of electricity to the retail customer’s home or business through low voltage distribution lines.
eHub – SVCE’s online customer resource center with the latest information on electric vehicles, home electrification, and solar and battery storage.

ERRA – Energy Resource Recovery Account – ERRA proceedings are used to determine fuel and purchased power costs which can be recovered in rates. The utilities do not earn a rate of return on these costs, and only recover 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.

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

FERC – Federal Energy Regulatory Commission – Independent federal agency that regulates the interstate transmission of electricity, natural gas and oil. The CAISO is subject to FERC jurisdiction.

GHG – Greenhouse gas – water vapor, carbon dioxide, tropospheric ozone, nitrous oxide, methane, and chlorofluorocarbons (CFCs). A gas that causes the atmosphere to trap heat radiating from the earth. The most common GHG is Carbon Dioxide, though Methane and others have this effect as well.

GWh – Gigawatt-hour – 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.

IOU – Investor-Owned Utility – A private electricity and natural gas provider.

IRA – Inflation Reduction Act
IRP – Integrated Resource Plan – A plan which outlines an electric utility’s resource needs in order to meet expected electricity demand long-term.
kW – Kilowatt – Measure of power where power (watts) = voltage (volts) x amperage (amps) and 1 kW = 1000 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.

LCR – Local (RA) Capacity Requirements – The amount of Resource Adequacy capacity required to be demonstrated in a specific location or zone.

LCFS – Low Carbon Fuel Standard – 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.

Load – 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 – Entities that 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.

Silicon Valley Clean Energy Revised: February 7, 2024
3 MMT – Million Metric Tonnes – Common unit of measurement in regulatory and policy space for California’s GHG emissions.

MAWG – Member Agency Working Group, a group of PIOs from SVCE’s member communities that gather monthly MW – Megawatt – measure of power. A megawatt equals 1,000 kilowatts or 1 million watts.

MWh – Megawatt-hour – measure of energy
NEM – Net Energy Metering – A program in which solar customers receive credit for excess electricity generated by solar panels. The main differences between NEM and FIT programs are the type of rate (flat vs. dependent on time-of-day generation), number of meters required (two vs. one), and flexibility (long-term contract vs. non-binding program enrollment).

PCC1 – RPS Portfolio Content Category 1 – Bundled renewables where the energy and 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 – Bundled renewables where the energy and REC are from out-of-state and not dynamically scheduled to a CBA.

PCC3 – RPS Portfolio Content Category 3 – Unbundled RECPSPS – Public Safety Power Shutoff – An event in which the IOUs purposely turn off segments of the grid due to high risk of ignition and wildfires.

PCIA or “exit fee” – 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.

Power Content Label (PCL) – 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 (Statue of 2009) and Senate Bill 1305 (Statutes of 1997).

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

Prepay – payment in advance by a municipal utility for a number of years of contracted energy, and this prepayment with tax-exempt debt
RA – Resource Adequacy – Under its Resource Adequacy (RA) program, the California Public Utilities Commission (CPUC) requires load-serving entities—both independently owned utilities and electric service providers—to demonstrate in both monthly and annual filings that they have purchased capacity commitments to contribute their share of system reliability. Today LSEs must procure no less than 115% of the peak hour load. In 2023 and 2024, this will increase to 116% and 117% respectively. Beginning in 2025 a new RA program will be implemented requiring LSEs show capacity to meet their hourly reliability needs, the “PRM” adder is still undetermined.

RE – Renewable Energy – 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 MWh of electricity they produce. Utilities obligated to fulfill an RPS requirement can purchase these RECs on the open market.

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

Silicon Valley Clean Energy Revised: February 7, 2024
4 SB 100 – California Senate Bill 100 established a landmark policy requiring renewable energy and zero-carbon resources supply 100 percent of electric retail sales to end-use customers by 2045.

SMUD – Sacramento Municipality Utility District
SCE – Southern California Edison
SDG&E – San Diego Gas & Electric
TOB – Tariff On-bill – Tariff On-Bill Financing is a model in which utilities use a tariff to enable customers to pay back the cost of a solar panel without credit or income level conditions.

TOU – Time-of-Use Rates – 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, midpeak, 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.

Unbundled RECs – 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 cloud-based energy supply made up of a collection of an aggregation of distributed energy resources (DERs), such as smart EV chargers, smart thermostats, building energy management systems, battery storage systems, solar PV and smart inverters.
24/7 – Goal of supplying consumer energy demand with 100% carbon-free energy at all hours of the day

Page 1 of 5 ends

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

DRAFT 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
Item 1a Draft Minutes: 8/14/24 BOD Meeting
SILICON VALLEY \3/ CLEAN ENERGY

Page 2 of 5 ends

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
Item 1a Draft Minutes: 8/14/24 BOD Meeting

Page 3 of 5 ends

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.

Item 1a Draft Minutes: 8/14/24 BOD Meeting

Page 4 of 5 ends

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.

Item 1a Draft Minutes: 8/14/24 BOD Meeting

Page 5 of 5 ends

Adjourn
Chair Walia adjourned the meeting at 9:01 p.m.

ATTEST:
_____________________________
Andrea Pizano, Board Secretary
Item 1a Draft Minutes: 8/14/24 BOD Meeting

Page 1 of 3 ends

Silicon Valley Clean Energy Authority
Board of Directors Special Meeting
Wednesday, August 14, 2024
5:00 pm
Cupertino Community Hall
10350 Torre Avenue
Cupertino, CA
Milpitas Police Department
1275 N. Milpitas Blvd
Milpitas, CA
Morgan Hill City Hall
17575 Peak Ave.

Morgan Hill, CA 95037

DRAFT MEETING MINUTES
Call to Order:

Chair Walia called the meeting to order at 5:06 p.m.

Roll Call

Present:

Directors:

Tina Walia (Chair), Saratoga
George Tyson (Vice Chair), Los Altos Hills
Elliot Scozzola, Campbell
Sheila Mohan, Cupertino
Evelyn Chua, Milpitas (participated remotely)
Bryan Mekechuk, Monte Sereno
Yvonne Martinez Beltran, Morgan Hill (participated remotely, arrived at 6:10 p.m.) Pat Showalter, Mountain View
Larry Klein, Sunnyvale
Otto Lee, Santa Clara County
Alternate Directors:

Maria Ristow, Los Gatos

Absent:

Directors:

Zach Hilton, Gilroy
Sally Meadows, Los Altos
Rob Rennie, Los Gatos
Alternate Directors:

Sergio Lopez, Campbell
Hung Wei, Cupertino
Item 1b Draft Meeting Minutes: 8/14/24 BOD Special Meeting SILICON VALLEY \3/ CLEAN ENERGY

Page 2 of 3 ends

Rebeca Armendariz, Gilroy
Pete Dailey, Los Altos
Lisa Schmidt, Los Altos Hills
Carmen Montano, Milpitas
Burton Craig, Monte Sereno
Margaret Abe-Koga, Mountain View
Tanya Carothers, Morgan Hill
Chuck Page, Saratoga
Murali Srinivasan, Sunnyvale
Sylvia Arenas, Santa Clara County
Public Comment on Matters Not Listed on the Agenda
No speakers.

Regular Calendar
2) Study Session: Exploring Impacts of Policies on Customer Affordability CEO Monica Padilla welcomed the SVCE Board of Directors and members of the public to the study session, with key goals for the session that included participants having a deeper understanding of rates, bills, and cost drivers, what SVCE is doing in relation to affordability, and how others can help.

The following SVCE staff members presented information:

Don Bray, Director of Strategic Development, provided an overview of rates which included a breakdown of residential electricity rates, information on PG&E’s rates, an SVCE arrearage summary, California Alternate Rates for Energy (CARE) and Family Electric Rate Assistance (FERA) program information, and a snapshot of the average monthly electricity and gas bills by socioeconomic vulnerability index (SEVI).

Maren Wenzel, Director of Regulatory, Policy and Planning, reviewed legislative and regulatory policy impacts on rates. Key regulatory and legislative decisions were highlighted, information on wildfire recovery revenue requirements and the Net Billing Tariff was shared, and clean energy targets, an overview of the impacts of transmission and distribution needs, and key drivers were reviewed.

Director of Strategic Development Bray reviewed actions SVCE is taking on affordability which included a CARE/FERA credit offer, SVCE rate programs, and other SVCE programs to help lower customer bills.

Bena Chang, Director of Government and Legislative Affairs, reviewed what SVCE Board Members can do to help with affordability. Ideas included directing customers to existing resources and programs, informing customers of SVCE actions, educating customers and community stakeholders and communicating with policymakers.

Board members and staff discussed the content presented. Staff responded to questions from board members that included the following topics:
• Artificial intelligence in modeling,
• The deciding agency of wildfire protection activities, • How residents can sign-up for CARE and FERA programs, • Outreach to eligible CARE/FERA customers,
• Distribution upgrades,
• Addressing electrification of ADUs,
• Arrearages, including summary information and commercial arrearage info, • Application process and criteria for CARE/FERA customers, • The state General Fund,
• Electricity bills and reflecting electric charges,
• Addressing customer assistance in multiple languages, • CARE/FERA discounts,
• SVCE’s rate discount and the need for multi-language videos on how to understand your energy bill, and
Item 1b Draft Meeting Minutes: 8/14/24 BOD Special Meeting

Page 3 of 3 ends

• Vehicle to Grid Integration pilot.

Chair Walia opened Public Comment.

Dr. Patrick Kearns commented on the various communities and cultures that would visit user-friendly and convenient medical clinics that were made available. Dr. Kearns commented a similar population in SVCE’s service territory should be reached regarding affordability options.

James Tuleya, Sunnyvale resident, commented on his involvement in HomeIntel and Home Energy Analytics, which is an energy saving program for PG&E customers that analyzes energy use for “unnecessary waste” and recommends targeted low-cost solutions.

Chair Walia closed Public Comment.

Adjourn
Chair Walia adjourned the meeting at 6:43 p.m.

ATTEST:
_____________________________
Andrea Pizano, Board Secretary
Item 1b Draft Meeting Minutes: 8/14/24 BOD Special Meeting 1 TREASURER REPORT
Fiscal Year to Date
As of July 31, 2024
(Preliminary & Unaudited)
Issue Date: September 11, 2024
Table of Contents
Page
Summary 2-3
Statement of Net Position 4
Statement of Revenues, Expenses & Changes in Net Position 5 Statement of Cash Flows 6-7
Actuals to Budget Report 8-11
Monthly Change in Net Position 12
Investments Report 13
Customer Accounts and Aging Report 14
Certificate of Compliance 15
SVCE Managed Account & Security Transactions 16-22
Item 1c July 2024 Treasurer Report
SILICON VALLEY <3/ CLEAN ENERGY
2

Page 1 ends

Balance Sheet Highlights:
> SVCE operations resulted in a change in net position of $17.3 million for the month of July and $140.8 million for fiscal-year-to-date (FYTD).* > Total Net Position increased further to $465.3 million. > SVCE is investing ~96% of available funds generating FYTD interest/dividend income of over $18.3 million. *Does not yet recognize unspent program dollars
**For reconciliation purposes, budget numbers include actual program expenses and depreciation, excludes GASP 87 expenses.

SVCE Yield-bearing Accounts:

Combined Ending Balance* 397.2 M
Total Interest/Div. Earned FYTD 18.3 M
Average Return On Investments** 5.25%
* Includes River Bank accounts - Money Market, Collateral and ICS; CAMP; PFM Portfolio ** Average annualized Yield for the current month

SILICON VALLEY CLEAN ENERGY AUTHORITY
Financial Statement Highlights* ($ in millions)
July 31, 2024
330.2 M
465.3 M
0 M
80 M
160 M
240 M
320 M
400 M
480 M
0 M
5 M
10 M
15 M
20 M
25 M
30 M
Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept Net Position Change in Net Position Change in Net Position*
Net Position (Right Y-Axes) Mid-Year Budget (Left Y-Axis)** Actual (Left Y-Axes) 243
273 289 293 307 323 337 342 357 369
0 50
100
150
200
250
300
350
400
450
500
Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept
Days Cash on Hand (DCOH)
DCOH* Maximum Reserves Target Reserves Minimum Reserves $18.3 M
$ 1,312.2 K
$ 2,670.2 K
$ 1,928.0 K
$ 2,151.1 K
$ 908.1 K
$ 1,644.9 K
$ 1,174.1 K
$ 1,962.2 K
$ 1,805.7 K
$ 2,735.9 K

0.0 M

3.0 M

6.0 M

9.0 M

12.0 M

15.0 M

18.0 M

21.0 M

24.0 M
$ 0 K
$ 500 K
$ 1,000 K
$ 1,500 K
$ 2,000 K
$ 2,500 K
$ 3,000 K
$ 3,500 K
$ 4,000 K
Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept
Investment Income*
Actual Cumulative Budget Actual
River City Bank
Accounts
7%
California Asset Management
Program (CAMP)
56%
PFM Asset Management
Investment Portfolio
37%
SVCE Accounts
*Includes investment income from SVCE Yield-bearing accounts plus interest on cash collateral *Adjusted to reflect the Mid-Year Budget (approved in March 2024) revisions Item 1c July 2024 Treasurer Report
3

Page 2 ends

Summary of Actual Results vs. Adjusted Budget (includes allocated but unspent program dollars):
> FYTD operating margin of $151.6 million or 35.3% is slightly below the Mid-Year budget expectations of 35.4% operating margin for the fiscal year to date. > FYTD Power Supply costs are -1.7% below Mid-Year budget. > Retail GWh sales for the month of July and FYTD landed 1.7% and 0.4% above Mid-Year budget respectively.

Variance Explanation:
$ in millions Actual MY Budget % Dif Actual MY Budget % Dif Main Drivers:

Revenue 55.2 M 55.6 M -0.8% 430.0 M 438.6 M -1.9%
Power Supply Cost 37.4 M 39.6 M -5.4% 278.4 M 283.1 M -1.7% Operating Margin 17.7 M 16.1 M 10.4% 151.6 M 155.4 M -2.4% Operating Expenses (ex Power) 2.3 M 2.8 M -16.9% 21.7 M 26.6 M -18.3% Other Non-Op. Expen. (Income) -2.7 M -1.1 M 156.2% 34.7 M 44.7 M -22.4% Net Increase in Available Fund
Balance 18.2 M 14.4 M 26.5% 95.2 M 84.2 M 13.1%
Customer Load Statistics:

Total Accounts 280,526
Opt-Out Accounts (Month) 55
Opt-Out Accounts (FYTD) 554
Opt-Up Accounts (Month) (291)
Opt-Up Accounts (FYTD) (491)
Program Funds:

General Program Fund
CRCR Fund*
Electrification Discount Fund
Building Fund
* Customer Relief and Community Resilience Fund
** The financial results in this report are preliminary and subject to change pending closing of the books for the fiscal year. Any potential changes are not expected to be significant. Lower sales in June - a high margin month were partly offset by stronger July Beginning Balance End Balance YTD Contributions YTD Expenditures Lower YTD costs due to decline in energy prices. Settlement timing increases offset by lower energy prices and CRR revenue Staffing vacancies, underrunning professional services, and lower marketing expenses Reflects higher Interest Income
Reflects budgetary transfers to program and other funds

SILICON VALLEY CLEAN ENERGY AUTHORITY
Financial Statement Highlights** ($ in millions)
July 31, 2024
July Fiscal YTD
October - December - mainly reflects lower operating expenses and higher investment income as revenue and power supply cost were actualized during the Mid-Year budgeting.

January - April - customer demand/revenues slightly above SVCEs mid-year forecast, while lower power supply cost and other operating expenses combined with higher interest income elevated the net position.

May - June - Revenues were below SVCE's mid-year budget forecast, especially for June, due to weaker customer demand.

Power supply expenses were significantly higher for the month of May because of lumpsum payments for renewable resource attribute costs, which in the budget are spread throughout all months of the fiscal year.

July - mainly reflects stronger energy demand, higher investment income combined with lower power supply cost and recurrent savings from other operating expenditures.
$ - $ 20,000,000 $ 20,000,000 $ -
$ 56,617,120 $ 81,659,280 $ 31,062,000 $ 6,019,840
$ 5,483,032 $ 6,132,590 $ 4,300,000 $ 3,650,442
$ 9,446,460 $ 9,279,282 $ - $ 167,178
899 K
2,424 K
1,344 K
4,636 K
8,466 K
205 K
1,594 K
-7,339 K
-6,666 K
3,812 K
-10 M
-8 M
-6 M
-4 M
-2 M
0 M
2 M
4 M
6 M
8 M
10 M
Oct Nov Dec Jan Feb Mar Apr May June July
Net Increase in Available Fund Balance
Comparing Actuals to Mid-Year Budget
250,762
250,737
250,862
251,097
251,320
251,754
251,849
252,136
252,462
253,105
27,474
27,464
27,450
27,426
27,404
27,471
27,466
27,447
27,423
27,421
92%
93%
94%
95%
96%
97%
98%
-
50,000
100,000
150,000
200,000
250,000
300,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
Customer Accounts and Participation Rate
Res Accounts Com Accounts Customer Participation (Right Y-Axes) -12%
-9%
-6%
-3%
0%
3%
6%
9%
12%
-

50.0 100.0
150.0
200.0
250.0
300.0
350.0
400.0
Retail Sales - Actual vs Budget (GWh)
Retail Sales Actual (GWh) Retail Sales Budget (GWh)
Load deviation from the Budget (Right Y-Axes)
Power Supply

90.5%
Personnel

3.4%
Contract
Services

3.7%
G & A

2.2%
Depreciation

0.2%
YTD Operating Expenses
Item 1c July 2024 Treasurer Report
1 1 1 1
r
r
4 Current Assets
Cash & Cash Equivalents $ 284,807,325
Accounts Receivable, net of allowance 51,430,201
Investments 50,243,219
Accrued Revenue 31,101,651
Other Receivables 3,719,769
Prepaid Expenses 2,921,800
Deposits 3,043,964
Restricted cash 166,965
Total Current Assets 427,434,894
Noncurrent assets
Capital assets, net of depreciation 868,434
Investments 115,256,824
Deposits 45,130
Total Noncurrent Assets 116,170,388
Total Assets 543,605,282
Current Liabilities
Accounts Payable 1,048,642
Accrued Cost of Electricity 47,815,845
Other accrued liabilities 1,937,813
User Taxes and Energy Surcharges due to other gov'ts 1,550,179 Supplier security deposits 375,000
Lease liability 490,168
Total Current Liabilities 53,217,647
Noncurrent Liabilities
Supplier security deposits 25,053,125
Total noncurrent liabilities 25,053,125
Total Liabilities 78,270,772
Net investment in capital assets 378,266
Restricted for security collateral 166,965
Unrestricted (deficit) 464,789,279
Total Net Position $ 465,334,510

NET POSITION

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF NET POSITION
As of July 31, 2024
ASSETS

LIABILITIES
Item 1c July 2024 Treasurer Report
5 OPERATING REVENUES
Electricity Sales, Net $ 426,619,495
GreenPrime electricity premium 2,088,081
Liquidated damages 1,291,500
Other income 26,290
TOTAL OPERATING REVENUES 430,025,366

OPERATING EXPENSES
Cost of Electricity 278,379,657
Contract services 11,401,454
Staff compensation and benefits 10,304,519
Other operating expenses 6,886,869
Depreciation 532,009
TOTAL OPERATING EXPENSES 307,504,508
OPERATING INCOME(LOSS) 122,520,858

NONOPERATING REVENUES (EXPENSES)
Interest Income 18,292,245
Financing costs (14,408)
TOTAL NONOPERATING REVENUES (EXPENSES) 18,277,837
CHANGE IN NET POSITION 140,798,695
Net Position at beginning of period 324,535,815
Net Position at end of period $ 465,334,510

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF REVENUES, EXPENSES
October 1, 2023 through July 31, 2024

AND CHANGES IN NET POSITION
Item 1c July 2024 Treasurer Report
6 CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers $ 433,758,219
Receipts of liquidated damages $ 1,216,500
Receipts of security deposits 32,260,840
Other operating receipts 15,290
Payments to suppliers for electricity (317,211,911)
Payments of security deposits (720,000)
Payments for other goods and services (19,839,366)
Payments for staff compensation and benefits (10,353,844) Tax and surcharge payments to other governments (7,437,600) Net cash provided (used) by operating activities 111,688,128

CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES
Finance costs paid (14,408)
Net cash provided (used) by financing activities (14,408)

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Payments of lease liability (433,645)
Acquisition of capital assets (151,584)
Net cash provided (used) by capital and related
financing activities (585,229)

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investments (121,010,140)
Proceeds from investment sales 46,702,550
Investment income received 17,498,884
Net cash provided (used) by investing activities (56,808,706) Net change in cash and cash equivalents 54,279,785
Cash and cash equivalents at beginning of year 230,694,505 Cash and cash equivalents at end of period $ 284,974,290 Reconciliation to the Statement of Net Position
Cash and cash equivalents (unrestricted) $ 284,807,325
Restricted cash 166,965
Cash and cash equivalents $ 284,974,290

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF CASH FLOWS
October 1, 2023 through July 31, 2024
Item 1c July 2024 Treasurer Report
7 Operating Income (loss) $ 122,520,858
Adjustments to reconcile operating income to net cash
provided (used) by operating activities
Depreciation expense 532,009
(Increase) decrease in accounts receivable (1,540,807)
(Increase) decrease in other receivables 1,788,726
(Increase) decrease in accrued revenue (669,529)
(Increase) decrease in prepaid expenses (1,568,623)
(Increase) decrease in current deposits 22,558,515
Increase (decrease) in accounts payable (1,798,596)
Increase (decrease) in accrued cost of electricity (31,135,975) Increase (decrease) in accrued liabilities 304,008
Increase (decrease) in energy settlements payable 347,288 Increase (decrease) in taxes and surcharges due to other governments (176,621) Increase (decrease) in supplier security deposits 526,875 Net cash provided (used) by operating activities $ 111,688,128

CASH PROVIDED (USED) BY OPERATING ACTIVITIES

SILICON VALLEY CLEAN ENERGY AUTHORITY
STATEMENT OF CASH FLOWS (Continued)
October 1, 2023 through July 31, 2024

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
Item 1c July 2024 Treasurer Report
8 FYTD FYTD FY 2023-24 FY 2023-24
OPERATING REVENUES Actual Mid-Year Budget $ % Mid-Year Budget Remaining Budget Energy Sales $426,619,495 $436,965,363 -$10,345,868 -2% $550,852,000 $124,232,505 Green Prime Premium 2,088,081 1,554,828 $533,253 34% 1,962,000 (126,081) Other Income 1,317,790 41,667 1,276,123 3063% 50,000 (1,267,790) TOTAL OPERATING REVENUES 430,025,366 438,561,858 (8,536,492) -2% 552,864,000 122,838,634

ENERGY EXPENSES
Power Supply 278,379,657 283,112,890 (4,733,233) -2% 365,617,000 87,237,343 Operating Margin 151,645,709 155,448,968 (3,803,259) -2% 187,247,000 35,601,291

OPERATING EXPENSES
Data Management 2,635,979 2,843,750 (207,771) -7% 3,413,000 777,021 PG&E Fees 995,218 1,225,000 (229,782) -19% 1,470,000 474,782 Salaries & Benefits 10,304,519 12,158,789 (1,854,270) -15% 14,818,000 4,513,481 Professional Services 4,250,386 6,842,063 (2,591,677) -38% 8,210,000 3,959,614 Marketing & Promotions 745,658 1,041,250 (295,592) -28% 1,250,000 504,342 Notifications 152,064 262,500 (110,436) -42% 315,000 162,936 Lease 444,266 459,375 (15,109) -3% 551,000 106,734
General & Administrative 2,197,190 1,742,738 454,452 26% 2,091,000 (106,190) TOTAL OPERATING EXPENSES 21,725,280 26,575,465 (4,850,185) -18% 32,118,000 10,392,720 OPERATING INCOME/(LOSS) 129,920,429 128,873,503 1,046,926 1% 155,129,000 25,208,571

NON-OPERATING REVENUES
Investment Income 18,292,245 10,722,722 7,569,523 71% 12,867,000 (5,425,245) TOTAL NON-OPERATING REVENUES 18,292,245 10,722,722 7,569,523 71% 12,867,000 (5,425,245)

NON-OPERATING EXPENSES
Financing 1,816 2,500 (684) -27% 3,000 1,184

CAPITAL EXPENDITURES, TRANSFERS,
& OTHER
Capital Outlay 141,078 41,667 99,411 239% 50,000 (91,078) Transfer to Programs Fund 28,874,000 28,874,000 - 0% 28,874,000 - Nuclear Allocation 2,188,000 2,188,000 - 0% 2,188,000 - Transfer to Building Fund 20,000,000 20,000,000 - 20,000,000 - Transfer to CRCR Fund 4,300,000 4,300,000 - 0% 4,300,000 - Transfer from Electrification Discount Fund (167,178) - (167,178) n/a - 167,178 Transfer from CRCR Fund - customer bill relief (2,369,075) - (2,369,075) n/a - 2,369,075 TOTAL OTHER USES 52,966,825 55,403,667 (2,436,842) -4% 55,412,000 2,445,175

NET INCREASE(DECREASE) IN AVAILABLE
FUND BALANCE $95,244,033 $84,190,058 $11,053,975 13% $112,581,000 Variance

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGETARY COMPARISON SCHEDULE
October 1, 2023 through July 31, 2024
Item 1c July 2024 Treasurer Report
9 ACTUAL/

MY BUDGET MID-YEAR
REVENUE & OTHER SOURCES: MY BUDGET ACTUAL REMAINING BUDGET Transfers in - General Programs $ 28,874,000 $ 28,874,000 $ - 100.0% Transfers in - Nuclear Allocation $ 2,188,000 $ 2,188,000 $ - 100.0% Total $ 31,062,000 $ 31,062,000 $ -
EXPENDITURES & OTHER USES:

Program expenditures* 27,099,994 6,019,840 21,080,154 22.2% Net increase (decrease) in fund balance $ 3,962,006 $25,042,160 Fund balance at beginning of period 56,617,120
Fund balance at end of period $81,659,280

ACTUAL/

MY BUDGET MID-YEAR
REVENUE & OTHER SOURCES: MY BUDGET ACTUAL REMAINING BUDGET Transfer from Operating Fund $ 4,300,000 $ 4,300,000 $ - 100.0% EXPENDITURES & OTHER USES:

Customer bill relief credit 4,300,000 2,369,075 1,930,925 55.1% Other program expenditures 3,535,082 1,281,367 2,253,715 36.2% Total Program expenditures 7,835,082 3,650,442 4,184,640 Net increase (decrease) in fund balance $ (3,535,082) 649,558 Fund balance at beginning of period 5,483,032
Fund balance at end of period $6,132,590

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGETARY COMPARISON SCHEDULE
October 1, 2023 through July 31, 2024

CUSTOMER RELIEF & COMMUNITY RESILIENCY FUND

GENERAL PROGRAM FUND
BUDGETARY COMPARISON SCHEDULE*
October 1, 2023 through July 31, 2024
Item 1c July 2024 Treasurer Report
10 ACTUAL/

MY BUDGET MID-YEAR
REVENUE & OTHER SOURCES: MY BUDGET ACTUAL REMAINING BUDGET Transfer from Operating Fund * $ - $ - $ - n/a
EXPENDITURES & OTHER USES:

Program expenditures * 600,000 167,178 432,822 27.9%
Net increase (decrease) in fund balance $ (600,000) (167,178) Fund balance at beginning of period 9,446,460
Fund balance at end of period $9,279,282

ACTUAL/

MY BUDGET MID-YEAR
REVENUE & OTHER SOURCES: MY BUDGET ACTUAL REMAINING BUDGET Transfer from Operating Fund * $ 20,000,000.00 $ 20,000,000.00 $ - 100.0% EXPENDITURES & OTHER USES:

Program expenditures * - - -
Net increase (decrease) in fund balance $ 20,000,000 20,000,000 Fund balance at beginning of period -
Fund balance at end of period $20,000,000

BUILDING FUND

BUDGETARY COMPARISON SCHEDULE
October 1, 2023 through July 31, 2024

ELECTRIFICATION DISCOUNT FUND

BUDGETARY COMPARISON SCHEDULE
October 1, 2023 through July 31, 2024
Item 1c July 2024 Treasurer Report
11 Net Increase (decrease) in available fund balance
per budgetary comparison schedule $ 95,244,033
Adjustments needed to reconcile to the changes
in net position in the Statement of Revenues,
Expenses and Changes in Net Position
Subtract depreciation expense (532,009)
Subract program expense not in operating budget (7,301,207) Add back GASB 87 expenses not in operating budget 421,053 Add back transfer to Program fund 52,825,747
Add back capital asset acquisition 141,078
Change in Net Position 140,798,695

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGET RECONCILIATION TO STATEMENT OF

REVENUES, EXPENSES AND CHANGES IN NET POSITION
October 1, 2023 through July 31, 2024

OPERATING FUND
Item 1c July 2024 Treasurer Report
12 October November December January February March April May June July August September YTD

OPERATING REVENUES
Electricity sales, net $ 37,692,603 $ 39,705,552 $ 41,967,181 $ 47,091,508 $ 43,545,848 $ 39,786,031 $ 36,600,812 $ 37,644,401 $ 47,725,707 $ 54,859,852 $ 426,619,495 Green electricity premium 136,391 $ 117,438 $ 130,927 $ 144,552 $ 123,168 $ 345,167 $ 260,986 $ 282,540 $ 233,689 $ 313,223 2,088,081 Liquidated damages - $ 75,000 $ - $ - $ - $ - $ - $ - $ 1,216,500 $ - 1,291,500 Other Income 2,500 $ 4,974 $ 5,850 $ 5,050 $ 2,316 $ 2,500 $ 475 $ - $ 2,625 $ - 26,290 Total operating revenues 37,831,494 39,902,964 42,103,958 47,241,110 43,671,332 40,133,698 36,862,273 37,926,941 49,178,521 55,173,075 - - 430,025,366

OPERATING EXPENSES
Cost of electricity 31,160,273 $ 27,896,672 $ 20,303,980 $ 32,910,813 $ 24,261,713 $ 25,544,019 $ 18,409,487 $ 30,949,780 $ 29,512,847 $ 37,430,073 278,379,657 Staff compensation and benefits 910,013 $ 913,400 $ 1,028,282 $ 1,060,468 $ 1,036,242 $ 1,062,728 $ 1,080,587 $ 1,100,405 $ 1,012,616 $ 1,099,778 10,304,519 Data manager 253,895 $ 253,378 $ 253,607 $ 266,090 $ 266,560 $ 267,462 $ 267,463 $ 268,287 $ 268,955 $ 270,282 2,635,979 Service fees - PG&E 98,425 $ 98,101 $ 104,757 $ 98,337 $ 98,296 $ 98,780 $ 98,791 $ 102,388 $ 98,000 $ 99,343 995,218 Consultants and other professional fees 541,215 $ 504,693 $ 660,992 $ 742,608 $ 791,882 $ 871,701 $ 921,168 $ 721,975 $ 1,058,348 $ 955,675 7,770,257 Other operating expenses 420,848 $ 324,106 $ 862,366 $ 1,239,599 $ 611,097 $ 817,661 $ 646,109 $ 605,490 $ 699,548 $ 660,045 6,886,869 Depreciation 49,996 $ 56,455 $ 54,023 $ 52,427 $ 52,426 $ 52,839 $ 53,377 $ 53,377 $ 53,377 $ 53,712 532,009 Total operating expenses 33,434,665 30,046,805 23,268,007 36,370,342 27,118,216 28,715,190 21,476,982 33,801,702 32,703,691 40,568,908 - - 307,504,508 Operating income (loss) 4,396,829 9,856,159 18,835,951 10,870,768 16,553,116 11,418,508 15,385,291 4,125,239 16,474,830 14,604,167 - - 122,520,858

NONOPERATING REVENUES (EXPENSES)
Grant income - $ - $ - $ - $ - $ - $ - $ - $ - $ - -
Interest income 1,312,249 $ 2,670,244 $ 1,927,958 $ 2,151,056 $ 908,057 $ 1,644,880 $ 1,174,083 $ 1,962,201 $ 1,805,666 $ 2,735,851 18,292,245 Financing costs (6,183) $ (10,369) $ (8,950) $ (9,232) $ (9,082) $ (8,625) $ (9,051) $ (8,763) $ 56,777 $ (930) (14,408) Total nonoperating revenues (expenses) 1,306,066 2,659,875 1,919,008 2,141,824 898,975 1,636,255 1,165,032 1,953,438 1,862,443 2,734,921 - - 18,277,837 CHANGE IN NET POSITION $ 5,702,895 $ 12,516,034 $ 20,754,959 $ 13,012,592 $ 17,452,091 $ 13,054,763 $ 16,550,323 $ 6,078,677 $ 18,337,273 $ 17,339,088 $ - $ - $ 140,798,695

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN NET POSITION
October 1, 2023 through July 31, 2024
Item 1c July 2024 Treasurer Report
13 Ending Balance of SVCE Accounts: Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep River City Bank Accounts $ 22,348,341 $ 32,458,101 $ 46,012,498 $ 22,314,142 $ 21,721,762 $ 26,843,555 $ 20,470,195 $ 22,637,918 $ 32,651,475 $ 33,775,796 $ - $ - California Asset Management Program (CAMP) $ 196,558,074 $ 184,428,757 $ 199,405,498 $ 232,403,050 $ 244,368,016 $ 261,500,705 $ 283,674,580 $ 240,821,584 $ 226,868,993 $ 251,939,518 $ - $ - PFM Asset Management Investment Portfolio $ 111,782,205 $ 112,312,183 $ 113,008,833 $ 113,738,828 $ 114,457,217 $ 114,334,972 $ 113,948,378 $ 165,446,465 $ 165,466,374 $ 167,452,997 $ - $ - Total Ending Balance $ 330,688,620 $ 329,199,041 $ 358,426,829 $ 368,456,021 $ 380,546,996 $ 402,679,232 $ 418,093,153 $ 428,905,967 $ 424,986,842 $ 453,168,310 $ - $ - Return On Investments:

Annual % Yield Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep River City Bank Accounts 3.47% 3.58% 3.73% 3.90% 3.91% 4.05% 4.18% 4.23% 4.18% 4.43% California Asset Management Program (CAMP) 5.56% 5.58% 5.55% 5.54% 5.50% 5.48% 5.44% 5.43% 5.43% 5.43% PFM Asset Management Investment Portfolio 5.41% 5.42% 5.40% 5.31% 5.28% 5.24% 5.23% 5.19% 5.16% 5.14% Average Return On Investments: 5.37% 5.33% 5.27% 5.37% 5.34% 5.32% 5.32% 5.27% 5.23% 5.25% Interest Earned Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep River City Bank Accounts $ 9,534 $ 9,534 $ 11,867 $ 17,766 $ 6,667 $ 11,034 $ 12,990 $ 10,887 $ 5,199 $ 18,019 $ - $ - California Asset Management Program (CAMP) $ 830,321 $ 870,683 $ 976,741 $ 997,552 $ 964,966 $ 1,132,689 $ 1,173,875 $ 1,147,004 $ 1,047,409 $ 1,070,525 $ - $ - PFM Asset Management Investment Portfolio * $ 1,112,927 $ 529,978 $ 696,650 $ 729,995 $ 718,389 $ (122,245) $ (386,594) $ 1,498,087 $ 19,909 $ 1,986,622 $ - $ - Total Interest and Investment Gains $ 1,952,782 $ 1,410,195 $ 1,685,258 $ 1,745,313 $ 1,690,022 $ 1,021,478 $ 800,270 $ 2,655,978 $ 1,072,517 $ 3,075,167 * Includes change in current market value, unsettled trades and accrued interest CAMP Portfolio Statistics
As of July 31, 2024
Beginning of the Month Market Value $ 226,868,993
Ending of The Month Market Value $ 251,939,518
Yield at Market 5.43% Weighted Average Maturity (days) 49 PFM Portfolio Statistics
As of July 31, 2024
Portfolio Par Value $ 166,301,440
Portfolio Market Value (icl. Accrued Interest) $ 167,452,997 Yield at Cost 5.14%
Yield at Market 4.83%
Benchmark Yield* 4.54%
Portfolio Effective Duration (years) 1.31 Weighted Average Maturity (days) 628 *ICE BofA 0-3 Year U.S. Treasury Index
SVCE Investment Policy:
https://svcleanenergy.org/wp-content/uploads/2018/10/FP-08_Investments-Policy-F.pdf

SILICON VALLEY CLEAN ENERGY AUTHORITY

INVESTMENTS SUMMARY
October 1, 2023 through July 31, 2024

15.50% 14.92%

29.96% 30.37%

4.19% 5.06%

0.00%
0%
5%
10%
15%
20%
25%
30%
35%
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years Maturity Distribution
U.S. Treasury
Bond / Note
40%
Commercial
Paper
14%
CAMP Pool
0%
Federal Agency
Commercial
5%
Supra-National
Agency
0%
Corp. & Bank
Notes
17%
Certificate of Deposit
7%
Asset-Backed
Security
17%
SVCE PFM Portfolio Investments
Repurchase
Agreements,

35.3%
Certificates of
Deposit, 28.3%
Commercial
Paper, 33.3%
Money Market
Funds, 0.1%
Corporate
Notes, 3.1%
Camp Pool Composition (based on market value)
Item 1c July 2024 Treasurer Report
14 October November December January February March April May June July August Sept YTD Retail Sales Actual (GWh) 312.6 302.5 327.8 334.1 310.1 317.0 300.6 309.8 321.5 365.8 3,202 Retail Sales Budget (GWh) 312.6 302.5 327.8 335.5 301.7 315.1 291.9 307.2 334.6 359.8 378.7 353.2 3,189 Load deviation from the Budget (Right Y-Axes)0.0% 0.0% 0.0% -0.4% 2.8% 0.6% 3.0% 0.9% -3.9% 1.7% 0.4% Customer Participation Rate Res 96.3% 96.3% 96.2% 96.2% 96.2% 96.2% 96.1% 96.1% 96.1% 96.1% Customer Participation Rate Com 96.8% 96.7% 96.6% 96.6% 96.6% 96.6% 96.6% 96.6% 96.5% 96.5% Total Accounts 278,236 278,201 278,312 278,523 278,724 279,225 279,315 279,583 279,885 280,526 280,526 Opt-Out Accounts 56 29 51 73 102 49 73 26 40 55 554
Opt-Up Accounts -18 -6 -5 -25 -11 -8 -27 -2 -98 -291 -491

0.10 35.28
SVCE Arrearager Total for customers 31+ days late and 120+ days late Age Summary (as of 8/1/2024) Date Amount
<30 days $47,079,009 High 11/29/2021 $7.99M
<60 days $1,489,415 Low 4/17/2020 $2.54M
<90 days $735,260 Current 7/31/2023 $6.4 M
<120 days $674,826
Older $3,455,932
July 2024 FYTD
Accounts Receivable Days
35 Days
$53,434,442

SILICON VALLEY CLEAN ENERGY AUTHORITY

RETAIL SALES, CUSTOMER ACCOUNTS AND AGING REPORT
Bad Debt % (Actual)

0.29%

TOTAL DUE
Bad Debt % (Budget )

0.75%
• Green arrow indicates
receipt of $1.3M in Federal
CAPP funds.
• An additional $717K in CAPP
funding provided in Winter
2023.
• Growth at red arrow
indicates short-term PG&E
billing-hold issue in Fall 2022
that was quickly resolved.
'17-'18 '18-'19 '19-'20 '20-'21 21-'22 22-'23 23-'24
Total (L Axes) $308,552 $417,275 $415,187 $639,455 $885,995 $1,484,752 $1,247,172 % Revenue 0.12% 0.14% 0.14% 0.25% 0.23% 0.33% 0.29%
Av./Month (R Axes) $25,713 $34,773 $34,599 $53,288 $73,833 $123,729 $124,717 $-
$30,000
$60,000
$90,000
$120,000
$150,000
$180,000
$210,000
$240,000
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
SVCE Write-offs By Fiscal Year
0 M
2 M
4 M
6 M
8 M
10 M
12 M
14 M
16 M
>120 Days 31+ Days
Item 1c July 2024 Treasurer Report
15 Item 1c July 2024 Treasurer Report
Silicon Valley Clean Energy July 31, 2024
Certificate of Compliance
During the reporting period for the month endedJuly 31, 2024 the account(s) managed by PFM Asset Management ("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged : PFM Asset Management LLC
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM") 16 Item 1c July 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending July 31, 2024 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal
Trade Settle Security Description CUSIP Par Proceeds
Accrued
Interest Total
Realized G/L Realized G/L Sale
Cost Amort Cost Method
BUY

CORPORATE NOTES
DTD 08/01/2024 4.650°/o
07/30/2027
07/02/24 07/10/24 GMCAR 2024-3 A2A
DTD 07/10/2024 5.350% 06/16/2027
38013KAB6 710.000.00 (709,998.23) 0.00 (709,998.23)
07/12/24 07/15/24 NATIXIS NY BRANCH COMM PAPER
DTD 07/11/2024 0.000% 01/31/2025
63873JNX4 2,000.000.00 (1,941,333.33) 0.00 (1,941,333.33) 07/16/24 07/24/24 HART 2024-B A2A
DTD 07/24/2024 5.150% 06/15/2027
44934OAB7 560.000.00 (559,977.38) 0.00 (559,977.38)
07/17/24 07/26/24 BLACKROCK FUNDING INC CORPORATE

NOTES (C
DTD 07/26/2024 4.600% 07/26/2027
09290DAH4 495.000.00 (494,985.15) 0.00 (494,985.15)
07/18/24 07/23/24 PNC FINANCIAL SERVICES CORP NOTES
(CALLA
DTD 07/23/2024 5.102% 07/23/2027
693475BY0 825.000.00 (825,000.00) 0.00 (825,000.00)
07/23/24 07/25/24 UNITEDHEALTH GROUP INC

CORPORATE NOTES
DTD 07/25/2024 4.750% 07/15/2026
91324PFF4 275.000.00 (274,538.00) 0.00 (274,538.00)
07/23/24 07/30/24 TAOT 2024-C A2A
DTD 07/30/2024 5.160% 05/17/2027
89237OAB6 335.000.00 (334,996.82) 0.00 (334,996.82)
07/24/24 07/30/24 USAOT 2024-A A2
DTD 07/30/2024 5.250% 03/15/2027
90327VAB4 1,140,000.00 (1,139,926.24) 0.00 (1,139,926.24) 07/24/24 07/30/24 CHAOT 2024-4A A2
DTD 07/30/2024 5.250% 09/27/2027
16144YAB4 520,000.00 (519,951.38) 0.00 (519,951.38)
07/29/24 08/01/24 HONEYWELL INTERNATIONAL 438516CX2 485,000.00 (484,985.45) 0.00 (484,985.45) Transaction Type Sub-Total 7,345,000.00 (7,285,691.98) 0.00 (7,285,691.98)

INTEREST
DTD 07/24/2017 2.864% 10/01/2026
07/01/24 07/25/24 FHMS K058 Al
DTD 11/09/2016 2.340% 07/01/2026
3137BSP64 414,957.91 0.00 809.17 809.17
07/01/24 07/25/24 FHMS K054 A2
DTD 04/20/2016 2.745% 01/01/2026
3137BNGT5 1,100,000.00 0.00 2,516.25 2,516.25
07/01/24 07/25/24 FHMS K065 Al 3137F1G36 654,175.09 0.00 1,561.30 1,561.30 PFM Asset Management LLC Account 4025-002 Page 33
17 Item 1c July 2024 Treasurer Report
Managed Account Security Transactions & For the Month Ending July 31, 2024 Interest Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type
Security Description CUSIP Par
Principal
Proceeds
Accrued
Interest Total
Realized G/L
Cost
Realized G/L
Amort Cost
Sale
Trade Settle Method

INTEREST
07/01/24 07/25/24 FHMS K068 A2
DTD 10/27/2017 3.244% 08/01/2027
3137FBBX3 850.000.00 0.00 2,297.83 2,297.83
07/01/24 07/25/24 FHMS K733 A2
DTD 11/09/2018 3.750% 08/01/2025
3137FJXO7 535.397.25 0.00 1,673.12 1,673.12
07/01/24 07/25/24 FHMS K736 A2
DTD 09/01/2019 2.282% 07/01/2026
3137FNWX4 750.000.00 0.00 1,426.25 1,426.25
07/01/24 07/25/24 FHMS K069 A2
DTD 11/20/2017 3.187% 09/01/2027
3137FBU79 750.000.00 0.00 1,991.87 1,991.87
07/01/24 07/25/24 FNA 2015-M11 A2
DTD 07/30/2015 2.849% 04/01/2025
3136APSZ6 647.881.86 0.00 1,538.07 1,538.07
07/01/24 07/25/24 FHMS K729 A2
DTD 01/01/2020 2.525% 10/01/2026
3137FOXJ7 1.050.000.00 0.00 2,209.37 2,209.37
07/01/24 07/25/24 FHMS K057 A2
DTD 09/28/2016 2.570% 07/01/2026
3137BROJ7 1,175.000.00 0.00 2,516.46 2,516.46
07/01/24 07/25/24 FHMS K059 A2
DTD 11/29/2016 3.120% 09/01/2026
3137BSRE5 700.000.00 0.00 1,820.00 1,820.00
07/08/24 07/08/24 CATERPILLAR FINL SERVICE

CORPORATE NOTES
DTD 01/08/2024 4.500% 01/08/2027
14913UAE0 315.000.00 0.00 7,087.50 7,087.50
07/08/24 07/08/24 JOHN DEERE CAPITAL CORP 24422EXF1 400,000.00 0.00 9,000.00 9,000.00

CORPORATE NOTES
DTD 01/08/2024 4.500% 01/08/2027
07/09/24 07/09/24 COOPERAT RABOBANK UA/NY
DTD 01/09/2024 4.850% 01/09/2026
21688ABA9 600,000.00 0.00 14,550.00 14,550.00
07/09/24 07/09/24 MERCEDES-BENZ FIN NA CORPORATE
NOTES
DTD 01/11/2024 4.900% 01/09/2026
58769JAP2 800.000.00 0.00 19,382.22 19,382.22
07/10/24 07/10/24 COOPERATIEVE RABOBANK UA

CORPORATE NOTES
DTD 01/12/2022 1.375% 01/10/2025
21688AAS1 400.000.00 0.00 2,750.00 2,750.00
07/13/24 07/13/24 AMERICAN HONDA FINANCE

CORPORATE NOTES
DTD 01/13/2022 1.500% 01/13/2025
02665WEA5 400.000.00 0.00 3,000.00 3,000.00
PFM Asset Management LLC Account 4025-002 Page 34
18 Item 1c July 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending July 31, 2024 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal Accrued Realized G/L Realized G/L Sale Trade Settle Security Description CUSIP Par Proceeds Interest Total Cost Amort Cost Method

INTEREST
DTD 06/25/2024 5.450% 04/15/2027
07/15/24 07/15/24 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
02582JKH2 715,000.00 0.00 3,116.21 3,116.21
07/15/24 07/15/24 KCOT 2024-1A A2
DTD 02/21/2024 5.390% 01/15/2027
50117BAB6 830,000.00 0.00 3,728.08 3,728.08
07/15/24 07/15/24 ALLYA 2023-1 A3
DTD 07/19/2023 5.460% 05/15/2028
02007WAC2 500,000.00 0.00 2,275.00 2,275.00
07/15/24 07/15/24 CHAIT 2023-Al A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 805,000.00 0.00 3,461.50 3,461.50
07/15/24 07/15/24 WOART 2024-A A2A
DTD 02/14/2024 5.050% 04/15/2027
98164RAB2 365,000.00 0.00 1,536.04 1,536.04
07/15/24 07/15/24 WELLS FARGO BANK NA CORPORATE

NOTES (CAL
DTD 01/23/2024 4.811% 01/15/2026
94988J6H5 1,000,000.00 0.00 22,985.89 22,985.89
07/15/24 07/15/24 HART 2023-C A2A
DTD 11/13/2023 5.800% 01/15/2027
4491SCABS 588,346.50 0.00 2,843.67 2,843.67
07/15/24 07/15/24 CARMX 2022-2 A3
DTD 04/28/2022 3.490% 02/16/2027
14317HAC5 493,858.03 0.00 1,436.30 1,436.30
07/15/24 07/15/24 US TREASURY N/B NOTES
DTD 01/15/2024 4.000% 01/15/2027
91282CJT9 3,500,000.00 0.00 70,000.00 70,000.00
07/15/24 07/15/24 CHAIT 2024-Al A
DTD 01/31/2024 4.600% 01/15/2027
161571HV9 695,000.00 0.00 2,664.17 2,664.17
07/15/24 07/15/24 BACCT 2024-Al A
DTD 06/13/2024 4.930% 05/15/2029
05522RDJ4 1,030,000.00 0.00 4,513.69 4,513.69
07/15/24 07/15/24 FORDO 2024-B A2A
DTD 06/24/2024 5.400% 04/15/2027
34531OAB5 1,650,000.00 0.00 5,197.50 5,197.50
07/15/24 07/15/24 NAROT 2024-A A2A
DTD 05/22/2024 5.470% 12/15/2026
65479UAB4 660,000.00 0.00 3,008.50 3,008.50
07/15/24 07/15/24 US TREASURY NOTES
DTD 07/15/2022 3.000% 07/15/2025
91282CEY3 2,000,000.00 0.00 30,000.00 30,000.00
07/15/24 07/15/24 HAROT 2024-1 A2
DTD 02/21/2024 5.360% 09/15/2026
437918AB1 1,100,000.00 0.00 4,913.33 4,913.33
07/15/24 07/15/24 KCOT 2024-2A A2 50117DAB2 300,000.00 0.00 908.33 908.33 PFM Asset Management LLC Account 4025-002 Page 35
19 Item 1c July 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending July 31, 2024 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal
Trade Settle Security Description CUSIP Par Proceeds
Accrued
Interest Total
Realized G/L Realized G/L Sale
Cost Amort Cost Method

INTEREST
DTD 10/25/2023 5.920% 11/16/2026
07/15/24 07/15/24 COPAR 2023-2 A2A
DTD 10/11/2023 5.910% 10/15/2026
14044EAB4 884,761.45 0.00 4,357.45 4,357.45
07/15/24 07/15/24 HDMOT 2023-B A3
DTD 09/27/2023 5.690% 08/15/2028
41285YAC9 935,000.00 0.00 4,433.46 4,433.46
07/15/24 07/15/24 HART 2022-C A3
DTD 11/09/2022 5.390% 06/15/2027
44933DAD3 550,000.00 0.00 2,470.42 2,470.42
07/15/24 07/15/24 WFCTT 2024-Al A
DTD 03/01/2024 4.940% 02/15/2029
92970OAA3 925,000.00 0.00 3,807.92 3,807.92
07/15/24 07/15/24 NAROT 2023-B A2A
DTD 10/25/2023 5.950% 05/15/2026
65480MAB9 925,000.00 0.00 4,586.46 4,586.46
07/15/24 07/15/24 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 240,000.00 0.00 1,108.00 1,108.00
07/15/24 07/15/24 US TREASURY NOTES
DTD 07/15/2023 4.500% 07/15/2026
91282CHM6 3,500,000.00 0.00 78,750.00 78,750.00
07/15/24 07/15/24 TAOT 2024-B A2A
DTD 04/30/2024 5.410% 03/15/2027
89237NAB3 615,000.00 0.00 2,772.62 2,772.62
07/15/24 07/15/24 BAAT 2024-1A A3
DTD 05/22/2024 5.350% 11/15/2028
09709AAC6 125,000.00 0.00 557.29 557.29
07/15/24 07/15/24 FORDO 2023-C A3
DTD 11/21/2023 5.530% 09/15/2028
344940AD3 340,000.00 0.00 1,566.83 1,566.83
07/15/24 07/15/24 WOART 2024-B A2A
DTD 05/22/2024 5.480% 09/15/2027
98164HAB4 425,000.00 0.00 1,940.83 1,940.83
07/15/24 07/15/24 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 825,000.00 0.00 3,595.62 3,595.62
07/15/24 07/15/24 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 355,000.00 0.00 1,473.25 1,473.25
07/15/24 07/15/24 WOART 2023-D A2A
DTD 11/08/2023 5.910% 02/16/2027
98164DAB3 318,177.43 0.00 1,567.02 1,567.02
07/15/24 07/15/24 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 840,000.00 0.00 4,018.00 4,018.00
07/15/24 07/15/24 ALLYA 2024-1 A3
DTD 03/13/2024 5.080% 12/01/2028
02008FAC8 385,000.00 0.00 1,629.83 1,629.83
07/15/24 07/15/24 MBART 2023-2 A2 58769FAB1 267,279.80 0.00 1,318.58 1,318.58 PFM Asset Management LLC Account 4025-002 Page 36
20 Item 1c July 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending July 31, 2024 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal
Trade Settle Security Description CUSIP Par Proceeds
Accrued
Interest Total
Realized G/L Realized G/L Sale
Cost Amort Cost Method

INTEREST
DTD 06/27/2024 5.530% 09/27/2027
07/15/24 07/15/24 FORDO 2024-A A2A
DTD 03/19/2024 5.320% 01/15/2027
34535EAB8 410,000.00 0.00 1,817.67 1,817.67
07/15/24 07/15/24 TAOT 2024-A A3
DTD 01/30/2024 4.830% 10/16/2028
89238DADO 335,000.00 0.00 1,348.38 1,348.38
07/16/24 07/16/24 GMCAR 2023-4 A3
DTD 10/11/2023 5.780% 08/16/2028
379930AD2 470,000.00 0.00 2,263.83 2,263.83
07/16/24 07/16/24 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
36268GAD7 110,000.00 0.00 444.58 444.58
07/16/24 07/16/24 GMCAR 2024-2 A2A
DTD 04/10/2024 5.330% 03/16/2027
379931AB4 265,000.00 0.00 1,177.04 1,177.04
07/20/24 07/20/24 VALET 2023-2 A2A
DTD 11/21/2023 5.720% 03/22/2027
92867YAB0 475,271.90 0.00 2,265.46 2,265.46
07/21/24 07/21/24 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
438123AC5 195,000.00 0.00 921.38 921.38
07/22/24 07/22/24 PFAST 2023-2A A2A
DTD 11/10/2023 5.880% 11/23/2026
732916AB7 749,177.28 0.00 3,670.97 3,670.97
07/25/24 07/25/24 CHAOT 2024-2A A2
DTD 04/25/2024 5.660% 05/26/2027
16144CAB2 740,000.00 0.00 3,490.33 3,490.33
07/25/24 07/25/24 BMWOT 2024-A A3
DTD 06/11/2024 5.180% 02/26/2029
096919AD7 715,000.00 0.00 4,526.74 4,526.74
07/25/24 07/25/24 CHAOT 2024-1A A2
DTD 03/27/2024 5.480% 04/26/2027
16144BAB4 210,000.00 0.00 959.00 959.00
07/25/24 07/25/24 CHAOT 2024-3A A2 16144LAB2 810,000.00 0.00 3,483.90 3,483.90 Transaction Type Sub-Total 45,714,284.50 0.00 385,040.48 385,040.48

MATURITY
07/01/24 07/01/24 FHMS K039 A2
DTD 09/01/2014 3.303% 07/01/2024
07/05/24 07/05/24 TORONTO DOMINION BANK NY CERT
DEPOS
DTD 08/17/2023 5.850% 07/05/2024
3137BDCW4
89115BWU0
286,577.05
2,200,000.00
286,577.05
2,200,000.00
788.80
115,472.50
287,365.85
2,315,472.50
4,623.30

0.00 0.00

0.00 Transaction Type Sub-Total 2,486,577.05 2,486,577.05 116,261.30 2,602,838.35 4,623.30 0.00 PFM Asset Management LLC Account 4025-002 Paqe 37
21 Item 1c July 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending July 31, 2024 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal Accrued Realized G/L Realized G/L Sale Trade Settle Security Description CUSIP Par Proceeds Interest Total Cost Amort Cost Method

PAYDOWNS
07/01/24 07/25/24 FHMS K065 Al 3137F1G36 23,047.79 23,047.79 0.00 23,047.79 994.84 0.00 DTD 07/24/2017 2.864% 10/01/2026
07/01/24 07/25/24 FHMS K733 A2
DTD 11/09/2018 3.750% 08/01/2025
3137FJXO7 638.80 638.80 0.00 638.80 21.01 0.00
07/01/24 07/25/24 FHMS K058 Al 3137BSP64 14,137.65 14,137.65 0.00 14,137.65 724.55 0.00 DTD 11/09/2016 2.340% 07/01/2026
07/01/24 07/25/24 FNA 2015-M11 A2
DTD 07/30/2015 2.849% 04/01/2025
3136APSZ6 1,089.37 1,089.37 0.00 1,089.37 42.60 0.00
07/01/24 07/25/24 FHMS K069 A2
DTD 11/20/2017 3.187% 09/01/2027
3137FBU79 267.25 267.25 0.00 267.25 12.92 0.00
07/15/24 07/15/24 COPAR 2023-2 A2A
DTD 10/11/2023 5.910% 10/15/2026
14044EAB4 71,338.21 71,338.21 0.00 71,338.21 6.30 0.00
07/15/24 07/15/24 HART 2023-C A2A
DTD 11/13/2023 5.800% 01/15/2027
44918CAB8 43,074.88 43,074.88 0.00 43,074.88 2.02 0.00
07/15/24 07/15/24 NAROT 2023-B A2A
DTD 10/25/2023 5.950% 05/15/2026
65480MAB9 76,118.01 76,118.01 0.00 76,118.01 1.12 0.00
07/15/24 07/15/24 WOART 2023-D A2A
DTD 11/08/2023 5.910% 02/16/2027
98164DAB3 25,452.05 25,452.05 0.00 25,452.05 2.14 0.00
07/15/24 07/15/24 CARMX 2022-2 A3
DTD 04/28/2022 3.490% 02/16/2027
14317HAC5 32,983.84 32,983.84 0.00 32,983.84 856.81 0.00 07/15/24 07/15/24 MBART 2023-2 A2
DTD 10/25/2023 5.920% 11/16/2026
58769FAB1 21,767.28 21,767.28 0.00 21,767.28 0.97 0.00
07/20/24 07/20/24 VALET 2023-2 A2A
DTD 11/21/2023 5.720% 03/22/2027
92867YAB0 28,772.24 28,772.24 0.00 28,772.24 1.68 0.00
07/22/24 07/22/24 PFAST 2023-2A A2A
DTD 11/10/2023 5.880% 11/23/2026
732916AB7 100,501.18 100,501.18 0.00 100,501.18 3.09 0.00 07/25/24 07/25/24 CHAOT 2024-1A A2
DTD 03/27/2024 5.480% 04/26/2027
16144BAB4 4,842.18 4,842.18 0.00 4,842.18 0.41 0.00
Transaction Type Sub-Total 444,030.73 444,030.73 0.00 444,030.73 2,670.46 0.00 SELL
07/25/24 07/26/24 US TREASURY NOTES
DTD 11/30/2022 4.500% 11/30/2024
91282CFX4 875,000.00 872,607.42 6,024.59 878,632.01 6,972.65 329.12 FIFO PFM Asset Management LLC Account 4025-002 Page 38
22 Item 1c July 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending July 31, 2024 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type
Trade Settle Security Description CUSIP Par
Principal
Proceeds
Accrued
Interest Total
Realized G/L
Cost
Realized G/L
Amort Cost
Sale
Method
SELL
07/30/24 08/01/24 US TREASURY NOTES
DTD 11/30/2022 4.500°/o
11/30/2024
91282CFX4 125,000.00 124,692.38 952.87 125,645.25 1,030.27 62.83 FIFO Transaction Type Sub-Total 1,000,000.00 997,299.80 6,977.46 1,004,277.26 8,002.92 391.95 Managed Account Sub-Total (3,357,784.40) 508,279.24 (2,849,505.16) 15,296.68 391.95 Total Security Transactions ($3,357,784.40) $508,279.24 ($2,849,505.16) $15,296.68 $391.95 Bolded items are forward settling trades.

PFM Asset Management LLC Account 4025-002 Page 39

Page 1 of 2 ends

Staff Report – Item 1d
Item 1d: Adopt Resolution Establishing October 2, 2024 as Clean Air Day From: Monica Padilla, CEO
Prepared by: Juliette Pascual, Community Outreach Specialist Date: 9/11/2024

RECOMMENDATION
Staff recommends the Silicon Valley Clean Energy (SVCE) Board of Directors (Board) adopt Resolution 2024- 12 Declaring October 2, 2024 as Clean Air Day.

BACKGROUND
Clean Air Day is a statewide event built on the idea that shared experiences unite people to action to improve our community health. By joining together for a unified day of action, we can create new habits to clear the air for all members of California’s diverse communities. California Clean Air Day is a project of the Coalition for Clean Air.

ANALYSIS & DISCUSSION
In addition to air quality concerns from sources like vehicle emissions, industrial smokestacks, and wildfires, studies have shown that contributions from water heaters, space heaters, and stoves are responsible for significant emissions and generate measurable impacts on air quality. Focusing on the health benefits of building electrification represents an effective way for SVCE to communicate with customers about the need to decarbonize their world.

Staff intends 2024 to be SVCE’s third year of participating in this opportunity to expand awareness and efforts in 2025 and beyond. For 2024, staff plans to take the following actions:
• Create social media posts for customers around the “Clean Air” message • Encourage employees to engage
• Encourage and support other agencies to adopt resolutions, sponsor events, push out social media posts, etc.

Adopting the attached resolution is a foundational step for this effort.

STRATEGIC PLAN
The proposed programs align with the board-adopted FY 23/24 strategic plan for the following goals:
• Goal #10: Empower customers with the awareness, knowledge and resources needed to make effective clean energy choices
• Goal #11: Support communication and engagement with public, private, and non-profit stakeholders to leverage our decarbonization efforts

ALTERNATIVE
The Board may choose to decline the opportunity to adopt the resolution or edit its contents.

Item 1d
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 1d Agenda Date: 9/11/2024

Page 2 of 2 ends

FISCAL IMPACT
N/A

ATTACHMENTS

1. Recommended Resolution 2024-12 Declaring October 2, 2024 Clean Air Day Item 1d
Resolution 2024-12

SILICON VALLEY CLEAN ENERGY AUTHORITY
RESOLUTION NO. 2024-12

A RESOLUTION OF THE BOARD OF DIRECTORS OF THE

SILICON VALLEY CLEAN ENERGY AUTHORITY DECLARING
OCTOBER 2, 2024 CLEAN AIR DAY
WHEREAS, air pollution contributes to higher rates of cancer and heart and lung diseases, which adversely affect health; and
WHEREAS, California has some of the most polluted regions in the United States; and
WHEREAS, it is vital that we protect the health and well-being of our residents, visitors, and workforce; and
WHEREAS, emissions from vehicles, industry, and even household sources significantly affects the natural environment, air quality and well-being of local residents; and
WHEREAS, individual actions such as electrifying space and water heating and replacing gas ranges with induction cooktops can directly improve air quality in our region; and
WHEREAS, agency employees, vendors and directors have tremendous power to help lower emissions; and
WHEREAS, pledges by individuals have shown to result in action; and WHEREAS, education about air quality can raise community awareness, encourage our community to develop better habits, and improve our community health; and
WHEREAS, Californians will be joining together across the state to clear the air on October 2, 2024; and
WHEREAS, Silicon Valley Clean Energy is committed to the health of our residents, workforce, visitors, and community at large.

NOW THEREFORE, the Board of Directors of the Silicon Valley Clean Energy Authority does hereby resolve that October 2, 2024 be declared “Clean Air Day” in the district; and be it further
RESOLVED, that our departments ask their employees to take the clean air pledge for California Clean Air Day; and be it further
Item 1d
Attachment 1
Resolution 2024-12
RESOLVED, that we encourage all residents, businesses, employees, and community members to participate in Clean Air Day and help clear the air for all Californians.

PASSED AND ADOPTED this 11
th day of September, 2024, by the following vote:

JURISDICTION NAME AYE NO ABSTAIN ABSENT
City of Campbell Director Scozzola
City of Cupertino Director Mohan
City of Gilroy Director Hilton
City of Los Altos Director Meadows
Town of Los Altos Hills Director Tyson
Town of Los Gatos Director Rennie
City of Milpitas Director Chua
City of Monte Sereno Director Mekechuk
City of Morgan Hill Director Martinez-Beltran
City of Mountain View Director Showalter
County of Santa Clara Director Lee
City of Saratoga Director Walia
City of Sunnyvale Director Klein
Chair
ATTEST:

Andrea Pizano, Board Secretary
Item 1d
Attachment 1

Page 1 of 2 ends

Staff Report – Item 1e
Item 1e: Authorize the Chief Executive Officer to Execute a Two-Year Agreement with Braun Blaising Wynne P.C. (“BBW”) for a Not to Exceed Amount of $330,000 for Regulatory Legal Counsel Services
From: Monica Padilla, CEO
Prepared by: Maren Wenzel, Director of Regulatory, Policy and Planning Date: 9/11/2024

RECOMMENDATION
Staff recommends that the Silicon Valley Clean Energy (SVCE) Board of Directors (“Board”) authorize the Chief Executive Officer (CEO) to execute the attached agreement, in substantive form, with Braun Blaising Wynne P.C. (“BBW”) for regulatory legal counsel services for an amount not to exceed $330,000 for a two-year term starting October 1, 2024.

BACKGROUND
BBW has been SVCE’s primary provider of regulatory counsel services since 2016. As one of the earliest firms serving Community Choice Aggregators (CCAs) in that capacity, their team has extensive knowledge about CCA regulatory issues. Given their unique experience working with SVCE, other CCAs and in depth knowldege of the California energy market, staff did not conduct a competitive search for regulatory legal services but rather seeks to continue to use BBW. The proposed agreement would refresh SVCE’s current contract with BBW, which will now provide for $165,000/year over the next two fiscal years. This reflects a continuation of current services to address new emerging issues in the regulatory space. The current agreement was originally signed in 2022 for two years expiring at the end of September 2024.

ANALYSIS & DISCUSSION
BBW provides “bread and butter” legal services for SVCE’s regulatory activities. This includes monitoring CPUC activities; drafting, editing, and/or filing regulatory and compliance documents; legal research and advising on topics of interest to SVCE staff and leadership; and coordinating joint filings with other CCAs. BBW’s history with the CCA community gives them a great depth of knowledge on CCA issues, and their work with other CCAs in the region facilitates the regulatory collaboration that has been an important part of CCAs’ approach at the CPUC.

As the California regulatory space continues to grow more complex, SVCE will continue to benefit from BBW’s expertise and proactive engagement in the regulatory space, including outreach to stakeholders across various regulatory and state agencies such as the California Public Utilities Commission (CPUC), California Energy Commission (CEC), and California Independent System Operator (CAISO). Staff expects that BBW will provide support in numerous key regulatory proceedings impacting SVCE. For the Power Supply team this includes Resource Adequacy, Integrated Resource Planning and Renewable Portfolio Standards among others.

BBW is also utilized to support on regulatory proceedings impacting other departments including the Finance and Administrative and Decarbonization Policy and Programs, such as the Provider of Last Resort and the Higher Distributed Energy Resources proceeding. Additionally, BBW provides valuable insights and tracking for proceedings which may not have an immediate impact to SVCE but increase staff’s awareness of the broader regulatory space and emerging trends.

Item 1e
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 1e Agenda Date: 9/11/2024

Page 2 of 2 ends

STRATEGIC PLAN
Delegating authority to the CEO to execute the BBW agreement will directly support Goal 17 of SVCE’s Strategic Plan, "Engage elected officials to inform them of SVCE's work and to partner on advancing policies."

ALTERNATIVE
If the Board does not delegate authority to the CEO, SVCE will have a significant need for regulatory counsel services that cannot be filled by current SVCE staff. SVCE would need to either issue an RFP and identify a different legal firm to provide these services or hire more internal staff with legal expertise in CCA regulatory matters. Both these alternatives would leave SVCE with no regulatory legal support for at least six months therefore increasing operational risk to the agency.

FISCAL IMPACT
The total fiscal impact of these services is $330,000, equally divided over two fiscal years. The first-year cost is included in the FY24-25 budget request ($165,000). Appropriations of funds for the subsequent fiscal year of the agreement will be requested in upcoming budgets, and subject to Board approval.

ATTACHMENTS

1. Agreement with Braun Blaising Wynne P.C.

Item 1e
1/2024 Version 1.0

AGREEMENT BETWEEN THE SILICON VALLEY CLEAN ENERGY AUTHORITY AND
BRAUN BLAISING & WYNNE, P.C
FOR

LEGAL SERVICES
THIS AGREEMENT (“Agreement”), is entered into this 4th day of September, 2024, by and between the SILICON VALLEY CLEAN ENERGY AUTHORITY, an independent public agency, ("Authority"), and BRAUN BLAISING & WYNNE, P.C, a California professional corporation, whose address is 555 Capitol Mall, Suite 570, Sacramento CA 95814 (hereinafter referred to as "Consultant") (collectively referred to as the “Parties” and individually as a “Party”).

RECITALS:

A. Authority is an independent public agency duly organized under the provisions of the Joint Exercise of Powers Act of the State of California (Government Code Section 6500 et seq.) (“Act”) with the power to conduct its business and enter into agreements.

B. Consultant possesses the skill, experience, ability, background, certification and knowledge to provide the services described in this Agreement pursuant to the terms and conditions described herein.

C. Authority and Consultant desire to enter into an agreement for Legal Services upon the terms and conditions herein.

NOW, THEREFORE, the Parties mutually agree as follows:

1. TERM
The term of this Agreement shall commence on October 1, 2024, and shall terminate on September 30, 2026, unless terminated earlier as set forth herein.

2. SERVICES TO BE PERFORMED
Consultant shall perform each and every service set forth in Exhibit "A" pursuant to the schedule of performance set forth in Exhibit "B," both of which are attached hereto and incorporated herein by this reference.

3. COMPENSATION TO CONSULTANT
Consultant shall be compensated for services performed pursuant to this Agreement in a total amount not to exceed three hundred thirty thousand dollars and no/100 ($330,000.00) based on the rates and terms set forth in Exhibit "C," which is attached hereto and incorporated herein by this reference. The total amount of charges under this Agreement shall not exceed $165,000 per either contract year.

4. TIME IS OF THE ESSENCE
Consultant and Authority agree that time is of the essence regarding the performance of Item 1e
Attachment 1
1/2024 Version 1.0
this Agreement.

5. STANDARD OF CARE
Consultant agrees to perform all services required by this Agreement in a manner commensurate with the prevailing standards of specially trained professionals in the San Francisco Bay Area under similar circumstances and in a manner reasonably satisfactory to Authority and agrees that all services shall be performed by qualified and experienced personnel. Consultant shall be responsible to Authority for any errors or omissions in the performance of work pursuant to this Agreement. Should any errors caused by Consultant be found in such services or products, Consultant shall correct the errors at no additional charge to Authority by redoing the professional work and/or revising the work product(s) called for in the Scope of Services to eliminate the errors.

Should Consultant fail to make such correction in a reasonably timely manner, such correction may be made by Authority, and the cost thereof shall be charged to Consultant. In addition to all other available remedies, Authority may deduct the cost of such correction from any retention amount held by Authority or may withhold payment otherwise owed Consultant under this Agreement up to the amount of the cost of correction.

6. INDEPENDENT PARTIES
Authority and Consultant intend that the relationship between them created by this Agreement is that of an independent contractor. The manner and means of conducting the work are under the control of Consultant, except to the extent they are limited by statute, rule or regulation and the express terms of this Agreement. No civil service status or other right of employment will be acquired by virtue of Consultant's services. None of the benefits provided by Authority to its employees, including but not limited to, unemployment insurance, workers’ compensation plans, vacation and sick leave are available from Authority to Consultant, its employees or agents. Deductions shall not be made for any state or federal taxes, FICA payments, PERS payments, or other purposes normally associated with an employer-employee relationship from any fees due Consultant. Payments of the above items, if required, are the responsibility of Consultant. Consultant shall indemnify and hold harmless Authority and its elected officials, officers, employees, servants, designated volunteers, and agents serving as independent contractors in the role of Authority officials, from any and all liability, damages, claims, costs and expenses of any nature to the extent arising from Consultant’s personnel practices. Authority shall have the right to offset against the amount of any fees due to Consultant under this Agreement any amount due to Authority from Consultant as a result of Consultant’s failure to promptly pay to Authority any reimbursement or indemnification arising under this section.

7. NO RECOURSE AGAINST CONSTITUENT MEMBERS OF AUTHORITY Authority is organized as a Joint Powers Authority in accordance with the Joint Powers Act of the State of California (Government Code Section 6500 et seq.) pursuant to a Joint Powers Agreement dated March 31, 2016, and is a public entity separate from its constituent members.

Authority shall solely be responsible for all debts, obligations and liabilities accruing and arising out of this Agreement. Consultant shall have no rights and shall not make any claims, take any actions or assert any remedies against any of Authority’s constituent members in connection with this Agreement.

Item 1e
Attachment 1
1/2024 Version 1.0

8. NON-DISCRIMINATION
In the performance of this Agreement, Consultant, and any subconsultant under the Consultant, shall not discriminate against any employee, subcontractor or applicant for employment because of race, color, religious creed, sex, gender, gender identity, gender expression, marital status, national origin, ancestry, age, physical disability, mental disability, medical condition, genetic information, sexual orientation, military or veteran status, or other basis prohibited by law, except as provided in Government Code section 12940. Consultant shall have responsibility for compliance with this Section.

9. HOLD HARMLESS AND INDEMNIFICATION
A. General Indemnification. To the fullest extent permitted by law, Consultant shall, at its sole cost and expense, defend, hold harmless and indemnify Authority and its elected officials, officers, attorneys, agents, employees, designated volunteers, successors, assigns and those Authority agents serving as independent contractors in the role of Authority officials (collectively “Indemnitees”), from and against any and all damages, costs, expenses, liabilities, claims, demands, causes of action, proceedings, expenses, judgments, penalties, liens, and losses of any nature whatsoever, including fees of accountants, attorneys, or other professionals and all costs associated therewith and the payment of all consequential damages (collectively “Liabilities”), in law or equity, whether actual, alleged or threatened, which arise out of, are claimed to arise out of, pertain to, or relate to the acts or omissions of Consultant, its officers, agents, servants, employees, subcontractors, materialmen, consultants or their officers, agents, servants or employees (or any entity or individual that Consultant shall bear the legal liability thereof) in the performance of this Agreement, including the Indemnitees’ active or passive negligence, except for Liabilities arising from the sole negligence or willful misconduct of the Indemnitees as determined by court decision or by the agreement of the Parties. Consultant shall defend the Indemnitees in any action or actions filed in connection with any Liabilities with counsel of the Indemnitees’ choice, and shall pay all costs and expenses, including all attorneys’ fees and experts’ costs actually incurred in connection with such defense. Consultant shall reimburse the Indemnitees for any and all legal expenses and costs incurred by Indemnitees in connection therewith.

B. Intellectual Property Indemnification. Consultant hereby certifies that it owns, controls, or licenses and retains all right, title, and interest in and to any intellectual property it uses in relation to this Agreement, including the design, look, feel, features, source code, content, and other technology relating to any part of the services and including all related patents, inventions, trademarks, and copyrights, all applications therefor, and all trade names, service marks, know how, and trade secrets (collectively referred to as “IP Rights”), except as otherwise expressly provided by this Agreement. Consultant warrants that the services to be provided pursuant to this Agreement do not infringe, violate, trespass, or constitute the unauthorized use or misappropriation of any IP Rights of any third party. Consultant shall indemnify, defend, and hold Indemnitees, harmless from and against any Liabilities by a third party that the services to be provided pursuant to this Agreement infringe or violate any third-party’s IP Rights, provided any such right is enforceable in the United States. Such costs and expenses shall include reasonable attorneys’ fees of counsel of Authority’s choice, expert fees and all other costs and fees of litigation.

C. The acceptance of the services by Authority shall not operate as a waiver of these rights of indemnification. The hold harmless and indemnification provisions of this Section shall apply regardless of whether or not any insurance policies are determined to be applicable to the Item 1e
Attachment 1
1/2024 Version 1.0
Liability.

D. Consultant’s indemnifications and obligations under this section shall survive the expiration or termination of this Agreement.

10. INSURANCE
A. General Requirements. On or before the commencement of the term of this Agreement, Consultant shall furnish Authority with certificates showing the type, amount, class of operations covered, effective dates and dates of expiration of insurance coverage in compliance with the requirements listed in Exhibit "D," which is attached hereto and incorporated herein by this reference. Such insurance and certificates, which do not limit Consultant’s indemnification obligations under this Agreement, shall also contain substantially the following statement:
"Should any of the above insurance covered by this certificate be canceled or coverage reduced before the expiration date thereof, the insurer affording coverage shall provide thirty (30) days’ advance written notice to the Authority by certified mail, Attention: Chief Executive Officer." Consultant shall maintain in force at all times during the performance of this Agreement all appropriate coverage of insurance required by this Agreement with an insurance company that is acceptable to Authority and licensed to do insurance business in the State of California.

Endorsements naming the Authority as additional insured shall be submitted with the insurance certificates.

B. Subrogation Waiver. Consultant agrees that in the event of loss due to any of the perils for which he/she has agreed to provide comprehensive general and automotive liability insurance, Consultant shall look solely to his/her/its insurance for recovery. Consultant hereby grants to Authority, on behalf of any insurer providing comprehensive general and automotive liability insurance to either Consultant or Authority with respect to the services of Consultant herein, a waiver of any right to subrogation which any such insurer of Consultant may acquire against Authority by virtue of the payment of any loss under such insurance.

C. Failure to Secure or Maintain Insurance. If Consultant at any time during the term hereof should fail to secure or maintain the foregoing insurance, Authority shall be permitted to obtain such insurance in the Consultant's name or as an agent of the Consultant and shall be compensated by the Consultant for the costs of the insurance premiums at the maximum rate permitted by law and computed from the date written notice is received that the premiums have not been paid.

D. Additional Insured. Authority, its members, officers, employees and volunteers shall be named as additional insureds under all insurance coverages, except any professional liability insurance, required by this Agreement. The naming of an additional insured shall not affect any recovery to which such additional insured would be entitled under this policy if not named as such additional insured. An additional insured named herein shall not be held liable for any premium, deductible portion of any loss, or expense of any nature on this policy or any extension thereof. Any other insurance held by an additional insured shall not be required to contribute anything toward any loss or expense covered by the insurance provided by this policy.

E. Sufficiency of Insurance. The insurance limits required by Authority are not represented as being sufficient to protect Consultant. Consultant is advised to confer with Consultant's insurance broker to determine adequate coverage for Consultant.

F. Maximum Coverage and Limits. It shall be a requirement under this Agreement that any available insurance proceeds broader than or in excess of the specified minimum Insurance coverage requirements and/or limits shall be available to the additional insureds. Furthermore, the Item 1e
Attachment 1
1/2024 Version 1.0
requirements for coverage and limits shall be the minimum coverage and limits specified in this Agreement, or the broader coverage and maximum limits of coverage of any insurance policy or proceeds available to the named insured, whichever is greater.

11. CONFLICT OF INTEREST
A. Consultant warrants that it, its officers, employees, associates and subcontractors, presently have no interest, and will not acquire any interest, direct or indirect, financial or otherwise, that would conflict in any way with the performance of this Agreement, and that it, its officers, employees, associates and subcontractors, will not employ any person having such an interest. Consultant and its officers, employees, associates and subcontractors, if any, shall comply with all conflict of interest statutes of the State of California applicable to Consultant’s services under this Agreement, including the Political Reform Act (Gov. Code § 81000, et seq.) and Government Code Section 1090. During the term of this Agreement, Consultant may perform similar services for other clients, but Consultant and its officers, employees, associates and subcontractors shall not, without the Authority Representative’s prior written approval, perform work for another person or entity for whom Consultant is not currently performing work that would require Consultant or one of its officers, employees, associates or subcontractors to abstain from a decision under this Agreement pursuant to a conflict of interest statute. Consultant shall incorporate a clause substantially similar to this section into any subcontract that Consultant executes in connection with the performance of this Agreement. Consultant understands that it may be required to fill out a conflict of interest form if the services provided under this Agreement require Consultant to make certain governmental decisions or serve in a staff Authority, as defined in Title 2, Division 6, Section 18700 of the California Code of Regulations.

B. The Consultant currently represents several clients that have operational Community Choice Aggregation (“CCA”) programs. The Consultant also represents the California Community Choice Association, an association of CCA programs. (See Exhibit F, which reflects the Consultant’s current list of clients.) Together with the Authority, these CCA clients shall be referred to below as “CCA Clients.” The Consultant anticipates that it will from time to time provide joint representation of the CCA Clients before regulatory agencies, whether directly or indirectly through a coalition or other organizational structure. This section generally describes the contemplated joint representation and requests written consent to the Consultant’s joint representation. This section also describes potential conflicts and requests written consent to the Consultant’s continuing representation in such circumstances.

C. The Consultant does not believe that the Consultant’s joint representation of the CCA Clients presently involves any actual conflicts of interest. The Authority should be aware, however, that such representation may involve potential conflicts and that the interests and objectives of each of the participants individually on certain issues may, at some time in the future, become inconsistent with the interests and objectives of the other participants. The Consultant’s joint representation has implications, which the Authority should consider. For example, rather than vigorously asserting a single participant's interest on an issue, it is likely that the Consultant will balance interests between the participants represented. Because individual participants may have different talents, energy, personal goals, and financial resources, sole representation of one participant could result in more aggressive advocacy, and hence more favorable treatment, for that participant compared to the more even-handed approach the Consultant may follow in representing multiple interests. Joint representation may also result in the loss of the attorney-client privilege for communications with members of the Consultant, Item 1e
Attachment 1
1/2024 Version 1.0
because anything disclosed by one participant on a matter of common interest could be disclosed to a jointly represented client in a civil proceeding between the two participants.

D. The Consultant will make every effort during the course of joint representation to confirm that the participants continue to have a commonality of interest in connection with the positions asserted. If interests diverge during the course of joint representation, further disclosure and waiver of the conflict, or withdrawal from representation, could be necessary.

E. In addition to the joint representation described above, the Consultant also represents numerous public agencies in California on diverse matters of energy law and regulation. Therefore, it is possible that, while the Consultant is representing the Authority, certain types of conflicts may arise in matters unrelated to the present engagement for which the Consultant requests the Authority’s consent and waiver now. Present or future clients, including clients who rely upon the Consultant for general representation, may ask the Consultant to represent them in transactions or litigation adverse to the Authority. The Consultant would decline the other representation if the Firm believes there is a risk of misuse of the Authority’s confidential information. It is expressly understood and agreed that the Consultant may accept the other representation if the Consultant discloses the other representation and (i) obtains a subsequent conflict waiver from the Authority or (ii) the Consultant withdraws from representing the Client. In either case, Consultant must also provide notice to the Authority of any adverse representation, including in unrelated matters. If the Consultant withdraws from representing the Authority, the Authority agrees that it will not seek to disqualify the Consultant based on the Consultant’s previous representation of the Authority, if the Authority believes there is not a risk of misuse of the Authority’s confidential information.

F. By signing this Agreement, the Authority confirms (i) that the Authority has been informed as to the nature of potential conflicts that may arise as a result of the Consultant’s joint representation and the Consultant’s representation of other clients; (ii) that the Authority has been provided a reasonable opportunity to seek the advice of independent counsel regarding potential conflicts and waiver thereof; (iii) that the Authority understands an actual conflict may arise in the future that would require an additional disclosure and waiver, or, alternatively, withdrawal by the Consultant; (iv) that the Authority agrees that the Consultant may represent other clients as described herein, including clients in unrelated matters adverse to the Authority; and (v) that the Authority hereby waives any claim of conflict of interest arising from such representation.

12. PROHIBITION AGAINST TRANSFERS
Consultant shall not assign, sublease, hypothecate, or transfer this Agreement, or any interest therein, directly or indirectly, by operation of law or otherwise, without prior written consent of Authority. Any attempt to do so without such consent shall be null and void, and any assignee, sublessee, pledgee, or transferee shall acquire no right or interest by reason of such attempted assignment, hypothecation or transfer. However, claims for money by Consultant from Authority under this Agreement may be assigned to a bank, trust company or other financial institution without prior written consent. Written notice of such assignment shall be promptly furnished to Authority by Consultant.

The sale, assignment, transfer or other disposition of any of the issued and outstanding capital stock of Consultant, or of the interest of any general partner or joint venturer or syndicate member or cotenant, if Consultant is a partnership or joint venture or syndicate or cotenancy, which shall result in changing the control of Consultant, shall be construed as an assignment of this Agreement. Control means fifty percent (50%) or more of the voting power of the corporation.

Item 1e
Attachment 1
1/2024 Version 1.0

13. SUBCONTRACTOR APPROVAL
Unless prior written consent from Authority is obtained, only those persons and subcontractors whose names are attached to this Agreement shall be used in the performance of this Agreement.

In the event that Consultant employs subcontractors, such subcontractors shall be required to furnish proof of workers’ compensation insurance and shall also be required to carry general, automobile and professional liability insurance in substantial conformity to the insurance carried by Consultant. In addition, any work or services subcontracted hereunder shall be subject to each provision of this Agreement.

Consultant agrees to include within their subcontract(s) with any and all subcontractors the same requirements and provisions of this Agreement, including the indemnity and insurance requirements, to the extent they apply to the scope of the subcontractor’s work. Subcontractors hired by Consultant shall agree to be bound to Consultant and Authority in the same manner and to the same extent as Consultant is bound to Authority under this Agreement. Subcontractors shall agree to include these same provisions within any sub-subcontract. Consultant shall provide a copy of the Indemnity and Insurance provisions of this Agreement to any subcontractor. Consultant shall require all subcontractors to provide valid certificates of insurance and the required endorsements prior to commencement of any work and will provide proof of compliance to Authority.

14. REPORTS
A. Each and every report, draft, work product, map, record and other document, hereinafter collectively referred to as "Report", reproduced, prepared or caused to be prepared by Consultant pursuant to or in connection with this Agreement, shall be the exclusive property of Authority. Consultant shall not copyright any Report required by this Agreement and shall execute appropriate documents to assign to Authority the copyright to Reports created pursuant to this Agreement. Any Report, information and data acquired or required by this Agreement shall become the property of Authority, and all publication rights are reserved to Authority. Consultant may retain a copy of any Report furnished to the Authority pursuant to this Agreement.

B. All Reports prepared by Consultant may be used by Authority in execution or implementation of: (1) The original project for which Consultant was hired; (2) Completion of the original project by others; (3) Subsequent additions to the original project; and/or (4) Other Authority projects as Authority deems appropriate in its sole discretion.

C. Consultant shall, at such time and in such form as Authority may require, furnish reports concerning the status of services required under this Agreement.

D. All Reports shall also be provided in electronic format, both in the original file format (e.g., Microsoft Word) and in PDF format.

E. No Report, information or other data given to or prepared or assembled by Consultant pursuant to this Agreement that has not been publicly released shall be made available to any individual or organization by Consultant without prior approval by Authority.

F. Authority shall be the owner of and shall be entitled upon request to immediate possession of accurate reproducible copies of Reports or other pertinent data and information gathered or computed by Consultant prior to termination of this Agreement or upon completion of the work pursuant to this Agreement.

Item 1e
Attachment 1
1/2024 Version 1.0

15. RECORDS
Consultant shall maintain complete and accurate records with respect to costs, expenses, receipts and other such information required by Authority that relate to the performance of services under this Agreement, in sufficient detail to permit an evaluation of the services and costs. All such records shall be clearly identified and readily accessible. Consultant shall provide free access to such books and records to the representatives of Authority or its designees at all proper times, and gives Authority the right to examine and audit same, and to make transcripts therefrom as necessary, and to allow inspection of all work, data, documents, proceedings and activities related to this Agreement. Such records, together with supporting documents, shall be maintained for a minimum period of five (5) years after Consultant receives final payment from Authority for all services required under this agreement

16. PARTY REPRESENTATIVES
The Chief Executive Officer (“Authority Representative”) shall represent the Authority in all matters pertaining to the services to be performed under this Agreement. Scott Blaising (Consultant Representative”) shall represent Consultant in all matters pertaining to the services to be performed under this Agreement.

17. CONFIDENTIAL INFORMATION AND DOCUMENTS
A. Consultant covenants that all data, reports, documents, discussion, or other information (collectively “Data”) developed or received by Consultant or provided for performance of this Agreement are deemed confidential and shall not be disclosed or released by Consultant without prior written authorization by Authority. Authority shall grant such authorization if applicable law requires disclosure. Consultant, its officers, employees, agents, or subcontractors shall not without written authorization from the Authority Representative or unless requested in writing by the Authority’s General Counsel, voluntarily provide declarations, letters of support, testimony at depositions, response to interrogatories or other information concerning the work performed under this Agreement or relating to any project or property located within the Authority. Response to a subpoena or court order shall not be considered “voluntary,” provided Consultant gives Authority notice of such court order or subpoena.

B. Consultant shall promptly notify Authority should Consultant, its officers, employees, agents or subcontractors be served with any summons, complaint, subpoena, notice of deposition, request for documents, interrogatories, request for admissions or other discovery request, court order or subpoena from any party regarding this Agreement and the work performed thereunder or with respect to any project or property located within the Authority. Authority may, but has no obligation to, represent Consultant or be present at any deposition, hearing or similar proceeding. Consultant agrees to cooperate fully with Authority and to provide Authority with the opportunity to review any response to discovery requests provided by Consultant. However, Authority’s right to review any such response does not imply or mean the right by Authority to control, direct or rewrite the response.

C. It is understood that Authority is subject to the California Public Records Act (Gov.

Code § 7920.000 et seq.). If a request under the California Public Records Act is made to view any documents Consultant provided to Authority, Authority shall notify Consultant of the request and the date that such records will be released to the requester unless Consultant obtains a court order enjoining that disclosure. If Consultant fails to obtain a court order enjoining that disclosure, Authority will release the requested information on the date specified.

Item 1e
Attachment 1
1/2024 Version 1.0
D. In the event Authority gives Consultant written notice of a “litigation hold” or request under the Public Records Act, then as to all data identified in such notice or request, Consultant shall, at no additional cost to Authority, isolate and preserve all such data pending receipt of further direction from the Authority.

E. Consultant agrees to comply with the confidentiality and data protection provisions set forth in Exhibit “E,” attached hereto and incorporated herein by this reference.

F. Consultant’s covenants under this section shall survive the expiration or termination of this Agreement.

18. NOTICES
Any notice, consent, request, demand, bill, invoice, report or other communication required or permitted under this Agreement shall be in writing and conclusively deemed effective: (a) on personal delivery, (b) on confirmed delivery by courier service during Consultant’s and Authority’s regular business hours, or (c) three Business Days after deposit in the United States mail, by first class mail, postage prepaid, and addressed to the Party to be notified as set forth below:

NOTICES TO AUTHORITY:
333 W. El Camino Real
Suite 330
Sunnyvale CA 94087
Attention: Chief Executive Officer
INVOICESNOTICES TO AUTHORITY:
[email protected]
TO CONSULTANT:

Braun Blaising & Wynne, P.C
555 Capitol Mall, Suite 570
Sacramento, CA 95814
[email protected]

19. TERMINATION
In the event Consultant fails or refuses to perform any of the provisions hereof at the time and in the manner required hereunder, Consultant shall be deemed in default in the performance of this Agreement. If Consultant fails to cure the default within the time specified (which shall be determined by the Authority but shall be not less than 10 days) and according to the requirements set forth in Authority’s written notice of default, and in addition to any other remedy available to the Authority by law, the Authority Representative may terminate the Agreement by giving Consultant written notice thereof, which shall be effective immediately. The Authority Representative shall also have the option, at its sole discretion and without cause, of terminating this Agreement by giving seven (7) calendar days' prior written notice to Consultant as provided herein. Upon receipt of any notice of termination, Consultant shall immediately discontinue performance.

In the event of Authority’s termination of this Agreement due to no fault or failure of performance by Consultant, Authority shall pay Consultant for services satisfactorily performed up to the effective date of termination. Upon termination, Consultant shall immediately deliver to Item 1e
Attachment 1
1/2024 Version 1.0
the Authority any and all copies of studies, sketches, drawings, computations, and other material or products, whether or not completed, prepared by Consultant or given to Consultant, in connection with this Agreement. Such materials shall become the property of Authority.

Consultant shall have no other claim against Authority by reason of such termination, including any claim for compensation.

20. COMPLIANCE WITH LAWS
Consultant shall keep itself informed of all applicable federal, state and local laws, ordinances, codes, regulations and requirements which may, in any manner, affect those employed by it or in any way affect the performance of its services pursuant to this Agreement. Consultant shall, at all times, observe and comply with all such laws and regulations, including, but not limited to the Americans with Disabilities Act, the Stored Communications Act, 18 U.S.C. Section 2701, et seq., California Civil Code Sections 1798.80 through 1798.84, and the California Consumer Privacy Act, Civil Code Section 1798.100 et seq. Authority, and its officers and employees, shall not be liable at law or in equity by reason of the failure of the Consultant to comply with this paragraph.

Consultant represents and agrees that all personnel engaged by Consultant in performing services are and shall be fully qualified and are authorized or permitted under state and local law to perform such services. Consultant represents and warrants to Authority that it has all licenses, permits, certificates, qualifications, and approvals required by law to provide the services and work required to perform services under this Agreement, including a business license. Consultant further represents and warrants that it shall keep in effect all such licenses, permits, and other approvals during the term of this Agreement.

21. CONFLICT OF LAW
This Agreement shall be interpreted under, and enforced by the laws of the State of California. The Agreement and obligations of the Parties are subject to all valid laws, orders, rules, and regulations of the authorities having jurisdiction over this Agreement (or the successors of those authorities). Any suits brought pursuant to this Agreement shall be filed with the Superior Court of the County of Santa Clara, State of California.

22. ADVERTISEMENT
Consultant shall not post, exhibit, display or allow to be posted, exhibited, displayed any signs, advertising, show bills, lithographs, posters or cards of any kind pertaining to the services performed under this Agreement unless prior written approval has been secured from Authority to do otherwise.

23. WAIVER
A waiver by Authority of any breach of any term, covenant, or condition contained herein shall not be deemed to be a waiver of any subsequent breach of the same or any other term, covenant, or condition contained herein, whether of the same or a different character.

24. INTEGRATED CONTRACT
This Agreement represents the full and complete understanding of every kind or nature whatsoever between the Parties, and all preliminary negotiations and agreements of whatsoever kind or nature are merged herein. No verbal agreement or implied covenant shall be held to vary Item 1e
Attachment 1
1/2024 Version 1.0
the provisions hereof. Any modification of this Agreement will be effective only by a written document signed by both Authority and Consultant.

25. AUTHORITY
The individual(s) executing this Agreement represent and warrant that they have the legal Authority and authority to do so on behalf of their respective legal entities.

26. INSERTED PROVISIONS
Each provision and clause required by law to be inserted into the Agreement shall be deemed to be enacted herein, and the Agreement shall be read and enforced as though each were included herein. If through mistake or otherwise, any such provision is not inserted or is not correctly inserted, the Agreement shall be amended to make such insertion on application by either Party.

27. CAPTIONS AND TERMS
The captions in this Agreement are for convenience only, are not a part of the Agreement and in no way affect, limit or amplify the terms or provisions of this Agreement.

28. AUTHORITY’S RIGHTS TO EMPLOY OTHER CONSULTANTS
Authority reserves the right to employ other consultants in connection with the subject matter of the Scope of Services.

29. EXHIBITS
The Exhibits referenced in this Agreement are attached hereto and incorporated herein by this reference as though set forth in full in the Agreement. If any inconsistency exists or arises between a provision of this Agreement and a provision of any exhibit, or between a provision of this Agreement and a provision of Consultant’s proposal, the provisions of this Agreement shall control.

30. FORCE MAJEURE
Consultant shall not be liable for any failure to perform its obligations under this Agreement if Consultant presents acceptable evidence, in Authority’s sole judgment, that such failure was due to acts of God, embargoes, inability to obtain labor or materials or reasonable substitutes for labor or materials, governmental restrictions, governmental regulations, governmental controls, judicial orders, enemy or hostile governmental action, civil commotion, fire or other casualty, or other causes beyond Consultant’s reasonable control and not due to any act by Consultant.

31. FINAL PAYMENT ACCEPTANCE CONSTITUTES RELEASE
The acceptance by Consultant of the final payment made under this Agreement shall operate as and be a release of Authority from all claims and liabilities for compensation to Consultant for anything done, furnished or relating to Consultant’s work or services. Acceptance of payment shall be any negotiation of Authority’s check or the failure to make a written extra compensation claim within ten calendar days of the receipt of that check. However, approval or payment by Authority shall not constitute, nor be deemed, a release of the responsibility and liability of Consultant, its employees, subcontractors and agents for the accuracy and competency Item 1e
Attachment 1
1/2024 Version 1.0
of the information provided and/or work performed; nor shall such approval or payment be deemed to be an assumption of such responsibility or liability by Authority for any defect or error in the work prepared by Consultant, its employees, subcontractors and agents.

32. ATTORNEY FEES
In any litigation or other proceeding by which a Party seeks to enforce its rights under this Agreement (whether in contract, tort or both) or seeks a declaration of any rights or obligations under this Agreement, the prevailing Party shall be entitled to recover all attorneys’ fees, experts’ fees, and other costs actually incurred in connection with such litigation or other proceeding, in addition to all other relief to which that Party may be entitled.

33. SEVERABILITY
If any provision in this Agreement is held by a court of competent jurisdiction to be illegal, invalid, void, or unenforceable, the remaining provisions will nevertheless continue in full force without being impaired or invalidated in any way.

34. SUCCESSORS AND ASSIGNS
The terms and conditions of this Agreement shall be binding on the successors and assigns of the Parties to this Agreement.

35. NO THIRD PARTY BENEFICIARIES INTENDED
This Agreement is made solely for the benefit of the Parties to this Agreement and their respective successors and assigns, and no other person or entity may have or acquire a right by virtue of this Agreement.

36. COUNTERPARTS; FACSIMILE/PDF/ELECTRONIC SIGNATURE
This Agreement may be executed in multiple counterparts, all of which shall be deemed an original, and all of which will constitute one and the same instrument. The Parties agree that a facsimile, PDF or electronic signature may substitute for and have the same legal effect as the original signature.

37. DRAFTING PARTY
This Agreement shall be construed without regard to the Party that drafted it. Any ambiguity shall not be interpreted against either Party and shall, instead, be resolved in accordance with other applicable rules concerning the interpretation of contracts.

IN WITNESS WHEREOF, the Parties have caused the Agreement to be executed as of the date set forth above.

Item 1e
Attachment 1
1/2024 Version 1.0

CONSULTANT NAME
Braun Blaising & Wynne, P.C
By: ________________________
Name: Scott Blaising
Title: Shareholder/Secretary
Date: __________________________

SILICON VALLEY CLEAN ENERGY

AUTHORITY
A Joint Powers Authority
By: ___________________________
Name: Monica Padilla
Title: Chief Executive Officer
Date: __________________________
APPROVED AS TO FORM:
_______________________
Counsel for Authority
ATTEST:
_____________________
Authority Clerk
Item 1e
Attachment 1
1/2024 Version 1.0
Exhibit A
Scope of Services
Consultant will provide regulatory and legal services related to, among other things, rates, rules, policies and regulations affecting Community Choice Aggregation programs.

Item 1e
Attachment 1

1/2024 Version 1.0
Exhibit B
Schedule of Performance
This schedule may be modified with the written approval of the Authority.

Task Begin Complete

1. Legal Services October 2024 September 2026
Item 1e
Attachment 1
1/2024 Version 1.0
Exhibit C
Compensation
Authority shall compensate Consultant for professional services in accordance with the terms and conditions of this Agreement based on the rates and compensation schedule set forth below.

Compensation shall be calculated based on the hourly rates set forth below up to the not to exceed budget amount set forth below.

The compensation to be paid to Consultant under this Agreement for all services described in Exhibit “A” and reimbursable expenses shall not exceed a total of three hundred thirty thousand dollars and no/100 ($330,000.00) dollars, as set forth below. The total amount of charges under this Agreement shall not exceed $165,000 per either contract year. Any work performed or expenses incurred for which payment would result in a total exceeding the maximum amount of compensation set forth herein shall be at no cost to Authority unless previously approved in writing by Authority.

Task Estimated Budget

1. Legal Services $330,000
Total $330,000
Rates
Title Hourly
Senior Shareholders $490
Senior Attorney $400
Senior Associates $380
Junior Associates $330
Paralegal / Law Clerk $190
Administrative Assistant $75
Invoices
Monthly Invoicing: In order to request payment, Consultant shall submit monthly invoices to the Authority describing the services performed and the applicable charges (including a summary of the work performed during that period, personnel who performed the services, hours worked, task(s) for which work was performed). Authority shall pay all undisputed invoice amounts within thirty (30) calendar days after receipt up to the maximum compensation set forth herein. Authority does not pay interest on past due amounts.

Reimbursable Expenses
Administrative, overhead, secretarial time or overtime, word processing, photocopying, in house printing, insurance and other ordinary business expenses are included within the scope of payment Item 1e
Attachment 1
1/2024 Version 1.0
for services and are not reimbursable expenses. Travel expenses must be authorized in advance in writing by Authority
Additional Services
Consultant shall provide additional services outside of the services identified in Exhibit A only by advance written authorization from Authority Representative prior to commencement of any additional services. Consultant shall submit, at the Authority Representative’s request, a detailed written proposal including a description of the scope of additional services, schedule, and proposed maximum compensation. Any changes mutually agreed upon by the Parties, and any increase or decrease in compensation, shall be incorporated by written amendments to this Agreement.

Item 1e
Attachment 1
1/2024 Version 1.0
Exhibit D
Insurance Requirements and Proof of Insurance
Consultant shall maintain the following minimum insurance coverage:

A. COVERAGE:
(1) Workers' Compensation:

Statutory coverage as required by the State of California. (2) Liability:

Commercial general liability coverage with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate for bodily injury and property damage.

ISO occurrence Form CG 0001 or equivalent is required.
(3) Automotive:

Comprehensive automotive liability coverage with minimum limits of $1,000,000 per accident for bodily injury and property damage. ISO Form CA 0001 or equivalent is required.
(4) Professional Liability
Professional liability insurance which includes coverage for the professional acts, errors and omissions of Consultant in the amount of at least $1,000,000. (5) Privacy and Cybersecurity Liability
Privacy and cybersecurity liability (including costs arising from data destruction, hacking or intentional breaches, crisis management activity related to data breaches, and legal claims for security breach, privacy violations, and notification costs of at least $1,000,000 US per occurrence.

Item 1e
Attachment 1
1/2024 Version 1.0
Exhibit E
Confidentiality and Data Security Requirements
Subject to the terms and conditions of the Agreement, current proprietary and confidential information of Authority regarding customers of Authority (“Authority Customers”) and/or other confidential information (collectively “Confidential Information”) may be disclosed to Consultant from time to time in connection herewith solely for the purposes set forth in the Agreement. Such disclosure is subject to the following legal continuing representations and warranties by Consultant:

1. The Confidential Information disclosed to Consultant in connection herewith may include, without limitation, the following information about Authority Customers: (a) names; (b) addresses; (c) telephone numbers and email addresses; (d) service agreement numbers and account numbers; (e) meter and other identification numbers; (f) Authority-designated account numbers; (g) electricity and gas usage (including monthly usage, monthly maximum demand, electrical or gas consumption, HP load, and other data detailing electricity or gas needs and patterns of usage); (h) billing information (including rate schedule, baseline zone, CARE participation, end use code (heat source) service voltage, medical baseline, meter cycle, bill cycle, balanced payment plan and other plans); (i) payment / deposit status; (j) number of units; and (k) other similar information specific to Authority Customers individually or in the aggregate. Confidential Information shall also include specifically any copies, drafts, revisions, analyses, summaries, extracts, memoranda, reports and other materials prepared by Consultant or its representatives that are derived from or based on Confidential Information disclosed by Authority, regardless of the form of media in which it is prepared, recorded or retained.

2. Except for electric and gas usage information provided to Consultant pursuant to this Agreement, Confidential Information does not include information that Consultant proves (a) was properly in the possession of Consultant at the time of disclosure; (b) is or becomes publicly known through no fault of Consultant, its employees or representatives; or (c) was independently developed by Consultant, its employees or representatives without access to any Confidential Information.

3. From the Effective Date, no portion of the Confidential Information may be disclosed, disseminated or appropriated by Consultant, or used for any purpose other than the purposes set forth in the Agreement.

4. Consultant shall, at all times and in perpetuity, keep the Confidential Information in the strictest confidence and shall take all reasonable measures to prevent unauthorized or improper disclosure or use of Confidential Information. Consultant shall implement and maintain reasonable security procedures and practices appropriate to the nature of the information, to protect the personal information from unauthorized access, destruction, use, modification, or disclosure and prohibits the use of the data for purposes not set forth in the Agreement. Specifically, Consultant shall restrict access to Confidential Information, and to materials prepared in connection therewith, to those employees or representatives of Consultant who have a “need to know” such Confidential Information in the course of Item 1e
Attachment 1
1/2024 Version 1.0
their duties with respect to the Consultant program and who agree to be bound by the nondisclosure and confidentiality obligations of this Agreement. Prior to disclosing any Confidential Information to its employees or representatives, Consultant shall require such employees or representatives to whom Confidential Information is to be disclosed to review this Agreement and to agree to be bound by the terms of this Agreement. Consultant shall not disclose Confidential Information or otherwise make it available, in any form or manner, to any other person or entity that is not Consultant’s employee or representative (a “Third Party”), except where that Third Party has separately entered into a nondisclosure agreement with Authority. Without limiting Consultant’s obligation of confidentiality as further described herein, Consultant shall be responsible for establishing, maintaining, and providing a written description to Authority of, a data privacy and information security program, including physical, technical, administrative, and organizational safeguards, that comply with or are substantial similar to the security controls identified in the current version of NIST SP800-53, and that is designed to: (a) ensure the security and confidentiality of the Authority’s Data; (b) protect against any anticipated threats or hazards to the security or integrity of the Data; (c) protect against unauthorized disclosure, access to, or use of the Data; (d) ensure the proper disposal of Data; and, (e) ensure that all employees, agents, and subcontractors of Consultant, if any, comply with all of the foregoing. In no case shall the safeguards of Consultant’s data privacy and information security program used to protect Data be less stringent than the safeguards used by Consultant for its own data. If the services include handling credit card information, then the Consultant shall comply at all times with all applicable Payment Card Industry Data Security Standards (PCI-DSS). Consultant agrees and warrants that it is responsible for the security of “cardholder data” that Consultant possesses, stores, processes or transmits on behalf of the Authority, and for any impact on the security of Authority’s cardholder data environment adversely affected by any failure of Company to maintain compliance with provisions of the PCI-DSS applicable to the services. No less than annually, Consultant shall conduct a comprehensive independent third-party audit of its data privacy and information security program and provide such audit findings to Authority. The required audit shall be a SAS-70 (or successor standard) compliant audit, and Consultant shall provide the audit findings in the form of an SAS-70 Type II report.

5. Notwithstanding the above, Consultant may disclose Confidential Information to the extent required by an order, subpoena, or lawful process requiring the disclosure of such Confidential Information issued by a court or other governmental authority of competent jurisdiction, provided that Consultant notifies Authority immediately upon receipt thereof to allow Authority to seek protective treatment for such Confidential Information.

6. In the event of any act, error or omission, negligence, misconduct, or breach that permits any unauthorized access to, or that compromises or is suspected to compromise the security, confidentiality, or integrity of the Authority’s Data or the physical, technical, administrative, or organizational safeguards put in place by Consultant that relate to the protection of the security, confidentiality, or integrity of the Data, Consultant shall, as applicable: (a) notify Authority as soon as practicable but no later than twenty-four (24) hours of becoming aware of such occurrence; (b) cooperate with Authority in investigating the occurrence, including making available all relevant records, logs, files, data reporting, and other materials required to comply with applicable law or as otherwise Item 1e
Attachment 1
1/2024 Version 1.0
required by Authority; (c) in the case of Confidential Information, at Authority’s sole election, (i) notify the affected individuals who comprise the Confidential Information as soon as practicable but no later than is required to comply with applicable law including, but not limited to, the provisions of California Civil Code Section 1798.82, or, in the absence of any legally required notification period, within five (5) calendar days of becoming aware of the occurrence; or, (ii) reimburse Authority for any costs in notifying the affected individuals; (d) in the case of Confidential Information, provide third-party credit and identity monitoring services to each of the affected individuals who comprise the Confidential Information for the period required to comply with applicable law, or, in the absence of any legally required monitoring services, for no less than twelve (12) months following the date of notification to such individuals; (e) perform or take any other actions required to comply with applicable law as a result of the occurrence; (f) without limiting Consultant’s obligations of indemnification as further described in this Agreement, indemnify, defend, and hold harmless Authority for any and all Claims (as defined herein), including reasonable attorneys’ fees, costs, and expenses incidental thereto, which may be suffered by, accrued against, charged to, or recoverable from Authority in connection with the occurrence; (g) be responsible for recreating lost Data in the manner and on the schedule set by Authority without charge to Authority; (h) provide to Authority a detailed plan within ten (10) calendar days of the occurrence describing the measures Consultant will undertake to prevent a future occurrence and (i) upon conclusion of the occurrence, or at Authority’s request, provide to Authority a comprehensive summary of the occurrence, including reason for occurrence, details of occurrence, how occurrence was addressed and any other information required by Authority, which shall be executed by Consultant and may be relied upon by Authority as a true and accurate account of the occurrence. Notification to affected individuals, as described above, shall comply with applicable law, be written in plain language, and contain, at a minimum: name and contact information of Consultant’s representative; a description of the nature of the loss; a list of the types of data involved; the known or approximate date of the loss; how such loss may affect the affected individual; what steps Consultant has taken to protect the affected individual; what steps the affected individual can take to protect himself or herself; contact information for major credit card reporting agencies; and, information regarding the credit and identity monitoring services to be provided by Consultant. This Section shall survive the termination of this Agreement.

7. It shall be considered a material breach of this Agreement if Consultant engages in a pattern or practice of accessing, storing, using, or disclosing the Confidential Information in violation of the contractual obligations described herein. Consultant understands that if Authority finds that Consultant is engaged in a pattern or practice of accessing, storing, using, or disclosing Confidential Information in violation of this Agreement Authority shall promptly cease all disclosures of Confidential Information to Consultant. Consultant further understands that if Authority receives a customer complaint about Consultant’s misuse of data or other violation of the Disclosure Provisions, Authority shall promptly cease disclosing that customer’s information to Consultant and shall notify the California Public Utilities Commission of the complaint.

Item 1e
Attachment 1
1/2024 Version 1.0

8. Consultant shall be liable for the actions of, or any disclosure or use by, its employees or representatives contrary to this Agreement; however, such liability shall not limit or prevent any actions by Authority directly against such employees or representatives for improper disclosure and/or use. In no event shall Consultant or its employees or representatives take any actions related to Confidential Information that are inconsistent with holding Confidential Information in strict confidence. Consultant shall immediately notify Authority in writing if it becomes aware of the possibility of any misuse or misappropriation of the Confidential Information by Consultant or any of its employees or representatives. However, nothing in this Agreement shall obligate the Authority to monitor or enforce the Consultant’s compliance with the terms of this Agreement.

9. Consultant shall comply with the consumer protections concerning subsequent disclosure and use set forth in Attachment B to California Public Utilities Commission (CPUC) Decision No. 12-08-045.

10. In addition to any other requirements set forth in the Agreement, within ten (10) business days of receipt of Authority’s written request, and at Authority’s option, Consultant will either return to Authority all tangible Confidential Information, including but not limited to all electronic files, documentation, notes, plans, drawings, and copies thereof, or will provide Authority with written certification that all such tangible Confidential Information of Authority has been destroyed.

11. Consultant acknowledges that disclosure or misappropriation of any Confidential Information could cause irreparable harm to Authority and/or Authority Customers, the amount of which may be difficult to assess. Accordingly, Consultant hereby confirms that the Authority shall be entitled to apply to a court of competent jurisdiction or the California Public Utilities Commission for an injunction, specific performance or such other relief (without posting bond) as may be appropriate in the event of improper disclosure or misuse of its Confidential Information by Consultant or its employees or representatives. Such right shall, however, be construed to be in addition to any other remedies available to the Authority, in law or equity.

12. In addition to all other remedies, Consultant shall indemnify and hold harmless Authority, its officers, employees, or agents from and against and claims, actions, suits, liabilities, damages, losses, expenses and costs (including reasonable attorneys’ fees, costs and disbursements) attributable to actions or non-actions of Consultant and/or its employees and/or its representatives in connection with the use or disclosure of Confidential Information.

13. When Consultant fully performs the purposes set forth in the Agreement, or if at any time Consultant ceases performance or Authority requires Consultant cease performance of the purposes set forth in the Agreement, Consultant shall promptly return or destroy (with written notice to Authority itemizing the materials destroyed) all Confidential Information then in its possession at the direction of Authority. Notwithstanding the foregoing, the nondisclosure obligations of this Agreement shall survive any termination of this Agreement.

Item 1e
Attachment 1

Page 1 of 2 ends

Staff Report – Item 1f
Item 1f: Authorize the Chief Executive Officer to Execute an Agreement with Maher Accountancy Through September 30, 2025 for a Not to Exceed Amount of $298,500 for Accountant Services
From: Monica Padilla, CEO
Prepared by: Amrit Singh, CFO / Director of Administrative Services Nik Zanotto, Sr. Manager of Technology and Administrative Services Date: 9/11/2024

RECOMMENDATION
Staff recommends the Board of Directors authorize the Chief Executive Officer to execute an agreement with Maher Accountancy for $298,500 for a one-year term through September 30, 2025.

BACKGROUND
SVCE has been utilizing the services of Maher Accountancy since March 2017 providing critical accounting services including accounts payable, receivables, reporting and auditing. The current agreement is for 1 year expiring on September 30, 2024. Maher Accountancy services strengthen internal controls and provide institutional knowledge based on years of experience with other Community Choice Aggregators. Based on SVCE’s positive experience with Maher Accountancy and the agency’s need for continuity in providing accounting services, staff concluded using Maher Accountancy for another year is most prudent and therefore did not run a competitive solicitation process.

ANALYSIS & DISCUSSION
Maher Accountancy shall provide accounting services and financial operational assistance to the Authority for a fixed monthly fee. There is a modest increase in cost ($5,000) between the proposed agreement and the current agreement, to adjust for inflation (1.70% year over year – in line with Bay Area Consumer Price Index data from the Bureau of Labor Statistics). Services are generally the same and include (See Exhibit A of Attachment 1):

1. Maintenance of the General Ledger including reconciling customer data management reports of customer activity and accounts receivable and reconciliation of the agency’s financial institution for cash activity and balances.

2. Assist staff with the development of the operating budget.

3. Manage accounts payable by providing a cloud-based accounts payable document management system that enhances internal controls.

4. Manage compliance with fiscal provisions of vendor contracts including the verifying of time periods, rates, and financial limits before payment is released.

5. Monitor expenditures budget compliance and make timely suggestions and budget amendments when necessary.

6. Financial reporting including periodic and year-to-date accrual basis financial statements.

7. Present financial information to Board of Directors, as needed.

8. Assist the treasury function.

9. File various compliance reports for state and local agencies, such as user taxes, energy surcharges, and state controller reports

10. File annual information returns such as 1099’s/1096’s Item 1f
SILICON VALLEY <3/ CLEAN ENERGY

Page 2 of 2 ends

Agenda Item: 1f Agenda Date: 9/11/24

11. Provide hosting and portal to assist with contracts management.

Maher Accountancy shall also assist with coordination of an independent auditor for the annual audit and prepare annual financial statements. In addition, Maher Accountancy developed and manages an online contract portal, allowing staff to track open contracts and expenditures.

STRATEGIC PLAN
The recommendation supports the financial goals of the Strategic Plan.

ALTERNATIVE
The Board may direct staff to issue a competitive solicitation for accounting relating services and platform.

Doing so will take time and will not likely result in a timely or better solution. As such, staff does not recommend this alternative. Staff will look at the need for a request for proposals prior to the expiration of the proposed contract.

FISCAL IMPACT
This recommendation results in a $298,500 fiscal impact to the agency but is offset with the avoidance of SVCE hiring internal staff to perform these duties. The recommended contract is an increase of $5,000 consisting solely of the inflationary adjustment.

ATTACHMENTS

1. Agreement with Maher Accountancy
Item 1f
1/2024 Version 1.0

AGREEMENT BETWEEN THE SILICON VALLEY CLEAN ENERGY AUTHORITY AND

MAHER ACCOUNTANCY
FOR

ACCOUNTING SERVICES
THIS AGREEMENT (“Agreement”), is entered into this 1
st day of October, 2024, by and
between the SILICON VALLEY CLEAN ENERGY AUTHORITY, an independent public agency, ("Authority"), and MAHER ACCOUNTANCY, a California Corporation whose address 1101 Fifth Avenue, Suite 200, San Rafael, CA 94901 (hereinafter referred to as "Consultant") (collectively referred to as the “Parties” and individually as a “Party”).

RECITALS:

C. Authority and Consultant desire to enter into an agreement for Accounting Services upon the terms and conditions herein.

NOW, THEREFORE, the Parties mutually agree as follows:

1. TERM
The term of this Agreement shall commence on October 1, 2024, and shall terminate on September 30, 2025, unless terminated earlier as set forth herein.

3. COMPENSATION TO CONSULTANT
Consultant shall be compensated for services performed pursuant to this Agreement in a total amount not to exceed two hundred ninety-eight thousand five hundred dollars and no/100 dollars ($298,500.00) based on the rates and terms set forth in Exhibit "C," which is attached hereto and incorporated herein by this reference.

4. TIME IS OF THE ESSENCE
Consultant and Authority agree that time is of the essence regarding the performance of this Agreement.

Item 1f
Attachment 1
1/2024 Version 1.0

8. NON-DISCRIMINATION
In the performance of this Agreement, Consultant, and any subconsultant under the Consultant, shall not discriminate against any employee, subcontractor or applicant for Item 1f
Attachment 1
1/2024 Version 1.0
employment because of race, color, religious creed, sex, gender, gender identity, gender expression, marital status, national origin, ancestry, age, physical disability, mental disability, medical condition, genetic information, sexual orientation, military or veteran status, or other basis prohibited by law, except as provided in Government Code section 12940. Consultant shall have responsibility for compliance with this Section.

9. HOLD HARMLESS AND INDEMNIFICATION
A. General Indemnification. To the fullest extent permitted by law, Consultant shall, at its sole cost and expense, defend, hold harmless and indemnify Authority and its elected officials, officers, attorneys, agents, employees, designated volunteers, successors, assigns and those Authority agents serving as independent contractors in the role of Authority officials (collectively “Indemnitees”), from and against any and all damages, costs, expenses, liabilities, claims, demands, causes of action, proceedings, expenses, judgments, penalties, liens, and losses of any nature whatsoever, including fees of accountants, attorneys, or other professionals and all costs associated therewith and the payment of all consequential damages (collectively “Liabilities”), in law or equity, whether actual, alleged or threatened, which arise out of, pertain to, or relate to the acts or omissions, limited to liabilities arising out of Consultant’s sole negligence or willful misconduct as determined by court decision or by the agreement of the Parties, of Consultant, its officers, agents, servants, employees, subcontractors, materialmen, consultants or their officers, agents, servants or employees (or any entity or individual that Consultant shall bear the legal liability thereof) in the performance of this Agreement, including the Indemnitees’ active or passive negligence, except for Liabilities arising from the sole negligence or willful misconduct of the Indemnitees as determined by court decision or by the agreement of the Parties. Consultant shall defend the Indemnitees in any action or actions filed in connection with any Liabilities with counsel of the Indemnitees’ choice, and shall pay all costs and expenses, including all attorneys’ fees and experts’ costs actually incurred in connection with such defense. Consultant shall reimburse the Indemnitees for any and all legal expenses and costs incurred by Indemnitees in connection therewith.

Item 1f
Attachment 1
1/2024 Version 1.0
D. Consultant’s indemnifications and obligations under this section shall survive the expiration or termination of this Agreement.

Endorsements naming the Authority as additional insured shall be submitted with the insurance certificates.

F. Maximum Coverage and Limits. It shall be a requirement under this Agreement that any available insurance proceeds broader than or in excess of the specified minimum Insurance coverage requirements and/or limits shall be available to the additional insureds. Furthermore, the requirements for coverage and limits shall be the minimum coverage and limits specified in this Agreement, or the broader coverage and maximum limits of coverage of any insurance policy or Item 1f
Attachment 1
1/2024 Version 1.0
proceeds available to the named insured, whichever is greater.

11. CONFLICT OF INTEREST
Consultant warrants that it, its officers, employees, associates and subcontractors, presently have no interest, and will not acquire any interest, direct or indirect, financial or otherwise, that would conflict in any way with the performance of this Agreement, and that it, its officers, employees, associates and subcontractors, will not employ any person having such an interest.

Consultant and its officers, employees, associates and subcontractors, if any, shall comply with all conflict of interest statutes of the State of California applicable to Consultant’s services under this Agreement, including the Political Reform Act (Gov. Code § 81000, et seq.) and Government Code Section 1090. During the term of this Agreement, Consultant may perform similar services for other clients, but Consultant and its officers, employees, associates and subcontractors shall not, without the Authority Representative’s prior written approval, perform work for another person or entity for whom Consultant is not currently performing work that would require Consultant or one of its officers, employees, associates or subcontractors to abstain from a decision under this Agreement pursuant to a conflict of interest statute. Consultant shall incorporate a clause substantially similar to this section into any subcontract that Consultant executes in connection with the performance of this Agreement. Consultant understands that it may be required to fill out a conflict of interest form if the services provided under this Agreement require Consultant to make certain governmental decisions or serve in a staff Authority, as defined in Title 2, Division 6, Section 18700 of the California Code of Regulations.

Item 1f
Attachment 1
1/2024 Version 1.0
Consultant agrees to include within their subcontract(s) with any and all subcontractors the same requirements and provisions of this Agreement, including the indemnity and insurance requirements, to the extent they apply to the scope of the subcontractor’s work. Subcontractors hired by Consultant shall agree to be bound to Consultant and Authority in the same manner and to the same extent as Consultant is bound to Authority under this Agreement. Subcontractors shall agree to include these same provisions within any sub-subcontract. Consultant shall provide a copy of the Indemnity and Insurance provisions of this Agreement to any subcontractor. Consultant shall require all subcontractors to provide valid certificates of insurance and the required endorsements prior to commencement of any work and will provide proof of compliance to Authority.

C. Consultant shall, at such time and in such form as Authority may require, furnish reports concerning the status of services required under this Agreement.

D. All Reports shall also be provided in electronic format, both in the original file format (e.g., Microsoft Word) and in PDF format.

16. PARTY REPRESENTATIVES
The Chief Executive Officer (“Authority Representative”) shall represent the Authority in all matters pertaining to the services to be performed under this Agreement. Maher Accountancy (Consultant Representative”) shall represent Consultant in all matters pertaining to the services to be performed under this Agreement.

C. It is understood that Authority is subject to the California Public Records Act (Gov.

D. In the event Authority gives Consultant written notice of a “litigation hold” or request under the Public Records Act, then as to all data identified in such notice or request, Consultant shall, at no additional cost to Authority, isolate and preserve all such data pending receipt of further direction from the Authority.

E. Consultant agrees to comply with the confidentiality and data protection provisions set forth in Exhibit “E,” attached hereto and incorporated herein by this reference.

F. Consultant’s covenants under this section shall survive the expiration or termination of this Agreement.

18. NOTICES
Item 1f
Attachment 1
1/2024 Version 1.0
Any notice, consent, request, demand, bill, invoice, report or other communication required or permitted under this Agreement shall be in writing and conclusively deemed effective: (a) on personal delivery, (b) on confirmed delivery by courier service during Consultant’s and Authority’s regular business hours, or (c) three Business Days after deposit in the United States mail, by first class mail, postage prepaid, and addressed to the Party to be notified as set forth below:

TO AUTHORITY:
333 W. El Camino Real
Suite 330
Sunnyvale CA 94087
Attention: Chief Executive Officer
TO CONSULTANT:

Michael Maher, CPA
Maher Accountancy
1101 Fifth Avenue, Suite #200
San Rafael, CA 94901

In the event of Authority’s termination of this Agreement due to no fault or failure of performance by Consultant, Authority shall pay Consultant for services satisfactorily performed up to the effective date of termination. Upon termination, Consultant shall immediately deliver to the Authority any and all copies of studies, sketches, drawings, computations, and other material or products, whether or not completed, prepared by Consultant or given to Consultant, in connection with this Agreement. Such materials shall become the property of Authority.

Consultant shall have no other claim against Authority by reason of such termination, including any claim for compensation.

20. COMPLIANCE WITH LAWS
Consultant shall keep itself informed of all applicable federal, state and local laws, ordinances, codes, regulations and requirements which may, in any manner, affect those employed by it or in any way affect the performance of its services pursuant to this Agreement. Consultant shall, at all times, observe and comply with all such laws and regulations, including, but not limited to the Americans with Disabilities Act, the Stored Communications Act, 18 U.S.C. Section 2701, Item 1f
Attachment 1
1/2024 Version 1.0
et seq., California Civil Code Sections 1798.80 through 1798.84, and the California Consumer Privacy Act, Civil Code Section 1798.100 et seq. Authority, and its officers and employees, shall not be liable at law or in equity by reason of the failure of the Consultant to comply with this paragraph.

24. INTEGRATED CONTRACT
This Agreement represents the full and complete understanding of every kind or nature whatsoever between the Parties, and all preliminary negotiations and agreements of whatsoever kind or nature are merged herein. No verbal agreement or implied covenant shall be held to vary the provisions hereof. Any modification of this Agreement will be effective only by a written document signed by both Authority and Consultant.

25. AUTHORITY
The individual(s) executing this Agreement represent and warrant that they have the legal Authority and authority to do so on behalf of their respective legal entities.

27. CAPTIONS AND TERMS
The captions in this Agreement are for convenience only, are not a part of the Agreement and in no way affect, limit or amplify the terms or provisions of this Agreement.

28. AUTHORITY’S RIGHTS TO EMPLOY OTHER CONSULTANTS
Authority reserves the right to employ other consultants in connection with the subject matter of the Scope of Services.

31. FINAL PAYMENT ACCEPTANCE CONSTITUTES RELEASE
The acceptance by Consultant of the final payment made under this Agreement shall operate as and be a release of Authority from all claims and liabilities for compensation to Consultant for anything done, furnished or relating to Consultant’s work or services. Acceptance of payment shall be any negotiation of Authority’s check or the failure to make a written extra compensation claim within ten calendar days of the receipt of that check. However, approval or payment by Authority shall not constitute, nor be deemed, a release of the responsibility and liability of Consultant, its employees, subcontractors and agents for the accuracy and competency of the information provided and/or work performed; nor shall such approval or payment be deemed to be an assumption of such responsibility or liability by Authority for any defect or error in the work prepared by Consultant, its employees, subcontractors and agents.

33. SEVERABILITY
Item 1f
Attachment 1
1/2024 Version 1.0
If any provision in this Agreement is held by a court of competent jurisdiction to be illegal, invalid, void, or unenforceable, the remaining provisions will nevertheless continue in full force without being impaired or invalidated in any way.

34. SUCCESSORS AND ASSIGNS
The terms and conditions of this Agreement shall be binding on the successors and assigns of the Parties to this Agreement.

IN WITNESS WHEREOF, the Parties have caused the Agreement to be executed as of the date set forth above.

RECOMMENDED FOR APPROVAL
__________________________________________________________ Amrit Singh, Chief Financial Officer/Director of Administrative Services APPROVED AS TO FORM:
_______________________
Counsel for Authority
Item 1f
Attachment 1
1/2024 Version 1.0

CONSULTANT NAME

MAHER ACCOUNTANCY
By: ________________________
Name: ________________________
Title: _________________________
Date: __________________________

SILICON VALLEY CLEAN ENERGY

AUTHORITY
A Joint Powers Authority
By: ___________________________
Name: Monica Padilla
Title: Chief Executive Officer
Date: __________________________
ATTEST:
_____________________
Authority Clerk
Item 1f
Attachment 1
1/2024 Version 1.0
Exhibit A
Scope of Services
Monthly Financial Operational Assistance:

1. Assist in development of operating budget in collaboration with management and technical consultants.

2. Maintain the general ledger by:
a. Posting billings, accrued revenue, cash receipts, accounts payable, cash disbursements, payroll, accrued expenses, etc.
b. Prepare or maintain the following monthly analysis regarding general ledger account balances:
i. Reconciliation to statements from Authority’s financial institution for cash activity and balances;
ii. Reconcile customer data manager reports of customer activity and accounts receivable;
iii. Estimated user fees earned but not billed as of the end of the reporting period; iv. Schedule of depreciation of capital assets;
v. Aged schedule of accounts payable;
vi. Schedules of details regarding all remaining balance sheet accounts.

3. Manager accounts payable: Consultant utilizes a cloud-based accounts payable document management system to provide for documentation of management review, proper segregation of duties, and access to source data. Consultant ensures that required authorization is documented, and that account coding is correct. SVCEA staff then authorizes the release of payment by an independent payment service in order to provide an additional safeguard.

4. Manage compliance with fiscal provisions of vendor contracts: Before submitting vendor invoices for management approval, Consultant verifies that a vendor invoice with contract provisions regarding time periods, rates, and financial limits.

5. Monitor expenditure budget compliance. Consultant monitors budget available and will make timely suggestions for any necessary budget amendments.

6. Provide periodic and year-to-date accrual basis financial statements with comparison to projections.

7. Provide modified accrual basis financial statement with comparison to budget.

8. Filing annual information returns such as form 1099/1096’s.

9. Present financial information to Board of Directors, as needed.

10. Assist the treasury function.

Item 1f
Attachment 1
1/2024 Version 1.0

11. Provide services to meet the requirements of applicable laws and regulations relating to the provisions of accounting services for Authority.

12. File various compliance reports for state and local agencies, such as user taxes, energy surcharges, and state controller reports.

13. Provide hosting and portal management for the contracts management portal. Prepare annual financial statements and coordination with independent auditor.

14. Provide an electronic record of Authority’s accounting files after the close of each month.

Item 1f
Attachment 1

1/2024 Version 1.0
Exhibit B
Schedule of Performance
This schedule may be modified with the written approval of the Authority.

Task Begin Complete
Accounting Services Monthly October 2024 September 2025 Prepare annual financial statements and coordinate with external auditor (Annual)
October 2024 September 2025
Contract Portal Management (Annual) October 2024 September 2025 Item 1f
Attachment 1
1/2024 Version 1.0
Exhibit C
Compensation
Authority shall compensate Consultant for professional services in accordance with the terms and conditions of this Agreement based on the rates and compensation schedule set forth below.

Compensation shall be calculated based on the hourly rates set forth below up to the not to exceed budget amount set forth below.

The compensation to be paid to Consultant under this Agreement for all services described in Exhibit “A” and reimbursable expenses shall not exceed a total of two hundred ninety-eight thousand five hundred dollars and no/100 dollars ($298,500.00 dollars), as set forth below. Any work performed or expenses incurred for which payment would result in a total exceeding the maximum amount of compensation set forth herein shall be at no cost to Authority unless previously approved in writing by Authority.

Task Estimated Budget

1. Accounting Services (monthly) $22,250

2. Prepare annual financial statements and coordinate with external auditor (annual)
$16,500

3. Contract Portal Management (annual) $15,000
Total $298,500
Invoices
Monthly Invoicing: In order to request payment, Consultant shall submit monthly invoices to the Authority describing the services performed and the applicable charges (including a summary of the work performed during that period, personnel who performed the services, hours worked, task(s) for which work was performed). Authority shall pay all undisputed invoice amounts within thirty (30) calendar days after receipt up to the maximum compensation set forth herein. Authority does not pay interest on past due amounts.

Reimbursable Expenses
Administrative, overhead, secretarial time or overtime, word processing, photocopying, in house printing, insurance and other ordinary business expenses are included within the scope of payment for services and are not reimbursable expenses. Travel expenses must be authorized in advance in writing by Authority
Additional Services
Consultant shall provide additional services outside of the services identified in Exhibit A only by advance written authorization from Authority Representative prior to commencement of any additional services. Consultant shall submit, at the Authority Representative’s request, a detailed written proposal including a description of the scope of additional services, schedule, and proposed maximum compensation. Any changes mutually agreed upon by the Parties, and any increase or decrease in compensation, shall be incorporated by written amendments to this Agreement.

Item 1f
Attachment 1
1/2024 Version 1.0
Exhibit D
Insurance Requirements and Proof of Insurance
Consultant shall maintain the following minimum insurance coverage:

A. COVERAGE:
(1) Workers' Compensation:

Statutory coverage as required by the State of California. (2) Liability:

Commercial general liability coverage with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate for bodily injury and property damage.

ISO occurrence Form CG 0001 or equivalent is required.
(3) Automotive:

Item 1f
Attachment 1
1/2024 Version 1.0
Exhibit E
Confidentiality and Data Security Requirements
Subject to the terms and conditions of the Agreement, current proprietary and confidential information of Authority regarding customers of Authority (“Authority Customers”) and/or other confidential information (collectively “Confidential Information”) may be disclosed to Consultant from time to time in connection herewith solely for the purposes set forth in the Agreement. Such disclosure is subject to the following legal continuing representations and warranties by Consultant:

4. Consultant shall, at all times and in perpetuity, keep the Confidential Information in the strictest confidence and shall take all reasonable measures to prevent unauthorized or improper disclosure or use of Confidential Information. Consultant shall implement and maintain reasonable security procedures and practices appropriate to the nature of the information, to protect the personal information from unauthorized access, destruction, use, modification, or disclosure and prohibits the use of the data for purposes not set forth in the Agreement. Specifically, Consultant shall restrict access to Confidential Information, and to materials prepared in connection therewith, to those employees or representatives of Consultant who have a “need to know” such Confidential Information in the course of their duties with respect to the Consultant program and who agree to be bound by the Item 1f
Attachment 1
1/2024 Version 1.0
nondisclosure and confidentiality obligations of this Agreement. Prior to disclosing any Confidential Information to its employees or representatives, Consultant shall require such employees or representatives to whom Confidential Information is to be disclosed to review this Agreement and to agree to be bound by the terms of this Agreement. Consultant shall not disclose Confidential Information or otherwise make it available, in any form or manner, to any other person or entity that is not Consultant’s employee or representative (a “Third Party”), except where that Third Party has separately entered into a nondisclosure agreement with Authority. Without limiting Consultant’s obligation of confidentiality as further described herein, Consultant shall be responsible for establishing, maintaining, and providing a written description to Authority of, a data privacy and information security program, including physical, technical, administrative, and organizational safeguards, that comply with or are substantial similar to the security controls identified in the current version of NIST SP800-53, and that is designed to: (a) ensure the security and confidentiality of the Authority’s Data; (b) protect against any anticipated threats or hazards to the security or integrity of the Data; (c) protect against unauthorized disclosure, access to, or use of the Data; (d) ensure the proper disposal of Data; and, (e) ensure that all employees, agents, and subcontractors of Consultant, if any, comply with all of the foregoing. In no case shall the safeguards of Consultant’s data privacy and information security program used to protect Data be less stringent than the safeguards used by Consultant for its own data. If the services include handling credit card information, then the Consultant shall comply at all times with all applicable Payment Card Industry Data Security Standards (PCI-DSS). Consultant agrees and warrants that it is responsible for the security of “cardholder data” that Consultant possesses, stores, processes or transmits on behalf of the Authority, and for any impact on the security of Authority’s cardholder data environment adversely affected by any failure of Company to maintain compliance with provisions of the PCI-DSS applicable to the services.

6. In the event of any act, error or omission, negligence, misconduct, or breach that permits any unauthorized access to, or that compromises or is suspected to compromise the security, confidentiality, or integrity of the Authority’s Data or the physical, technical, administrative, or organizational safeguards put in place by Consultant that relate to the protection of the security, confidentiality, or integrity of the Data, Consultant shall, as applicable: (a) notify Authority as soon as practicable but no later than twenty-four (24) hours of becoming aware of such occurrence; (b) cooperate with Authority in investigating the occurrence, including making available all relevant records, logs, files, data reporting, and other materials required to comply with applicable law or as otherwise required by Authority; (c) in the case of Confidential Information, at Authority’s sole election, (i) notify the affected individuals who comprise the Confidential Information as soon as practicable but no later than is required to comply with applicable law including, but not limited to, the provisions of California Civil Code Section 1798.82, or, in the absence of any legally required notification period, within five (5) calendar days of Item 1f
Attachment 1
1/2024 Version 1.0
becoming aware of the occurrence; or, (ii) reimburse Authority for any costs in notifying the affected individuals; (d) in the case of Confidential Information, provide third-party credit and identity monitoring services to each of the affected individuals who comprise the Confidential Information for the period required to comply with applicable law, or, in the absence of any legally required monitoring services, for no less than twelve (12) months following the date of notification to such individuals; (e) perform or take any other actions required to comply with applicable law as a result of the occurrence; (f) without limiting Consultant’s obligations of indemnification as further described in this Agreement, indemnify, defend, and hold harmless Authority for any and all Claims (as defined herein), including reasonable attorneys’ fees, costs, and expenses incidental thereto, which may be suffered by, accrued against, charged to, or recoverable from Authority in connection with the occurrence; (g) be responsible for recreating lost Data in the manner and on the schedule set by Authority without charge to Authority; (h) provide to Authority a detailed plan within ten (10) calendar days of the occurrence describing the measures Consultant will undertake to prevent a future occurrence and (i) upon conclusion of the occurrence, or at Authority’s request, provide to Authority a comprehensive summary of the occurrence, including reason for occurrence, details of occurrence, how occurrence was addressed and any other information required by Authority, which shall be executed by Consultant and may be relied upon by Authority as a true and accurate account of the occurrence. Notification to affected individuals, as described above, shall comply with applicable law, be written in plain language, and contain, at a minimum: name and contact information of Consultant’s representative; a description of the nature of the loss; a list of the types of data involved; the known or approximate date of the loss; how such loss may affect the affected individual; what steps Consultant has taken to protect the affected individual; what steps the affected individual can take to protect himself or herself; contact information for major credit card reporting agencies; and, information regarding the credit and identity monitoring services to be provided by Consultant. This Section shall survive the termination of this Agreement.

8. Consultant shall be liable for the actions of, or any disclosure or use by, its employees or representatives contrary to this Agreement; however, such liability shall not limit or prevent any actions by Authority directly against such employees or representatives for improper disclosure and/or use. In no event shall Consultant or its employees or representatives take any actions related to Confidential Information that are inconsistent with holding Confidential Information in strict confidence. Consultant shall immediately Item 1f
Attachment 1
1/2024 Version 1.0
notify Authority in writing if it becomes aware of the possibility of any misuse or misappropriation of the Confidential Information by Consultant or any of its employees or representatives. However, nothing in this Agreement shall obligate the Authority to monitor or enforce the Consultant’s compliance with the terms of this Agreement.

9. Consultant shall comply with the consumer protections concerning subsequent disclosure and use set forth in Attachment B to California Public Utilities Commission (CPUC) Decision No. 12-08-045.

Item 1f
Attachment 1

Page 1 of 2 ends

Staff Report – Item 1g
Item 1g: Receive Executive Committee Report
To: Silicon Valley Clean Energy Board of Directors
Prepared by: Larry Klein, Executive Committee Chair
Date: 9/11/2024
The Executive Committee met August 23, 2024 and considered a request to recommend the SVCE Board of Directors approve the FY 24/25 Strategic Focus Areas and Strategic Plan, considered a request to recommend the Expanded Education Fund, received information on the 2024 Member Agency grants, and received an update on the Multifamily Retrofits program.

CEO Monica Padilla reviewed the proposed FY 24/25 Strategic Focus Areas, which were aligned with the previous update provided in June. Last year’s focus area of “Implement Innovative Finance Solutions” was removed, and a new focus area on Affordability was added. Executive Committee members provided feedback on the Strategic Plan, which included making the measures more quantifiable and combining two of the goals that appeared to be redundant. Staff will present the proposed changes at the September Board of Directors meeting for approval.

Pamela Leonard, Deputy Director of Marketing and Communications, and Juli Miller, Climate Corps Fellow, presented a request for the Executive Committee to support the Expanded Education Fund for FY 24/25 in an amount of $100,000. The Expanded Education fund would offer competitive grants to non-profits working with schools to expand reach in SVCE service area schools, and enhance climate/clean energy curriculum. The Executive Committee voted unanimously to support staff’s recommendation, which will be brought to the October Board of Directors meeting for consideration.

Justin Zagunis, Director of Decarbonization Programs and Policy, and Jessica Cornejo, Senior Programs Specialist, presented information on SVCE’s developing grant program that addresses building and transportation electrification, resilience, and community engagement and education. The program will be divided into three areas: 1) Noncompetitive Member Agency Grants, 2) Competitive Member Agency Grants, and 3) Competitive Community Grants. Each agency will be awarded a noncompetitive allocation that can be used for projects located at facilities or public sites. The member agency competitive funding will allow agencies to pursue additional funding with the option to stack with their noncompetitive allocation.

Competitive community grants will support electrification and resilience projects for interested community organizations. Both the Noncompetitive and Competitive Member Agency Grants are expected to launch in September- October of this year, with the selection of competitive projects anticipated in May 2025 and the deadline to submit noncompetitive projects in December 2025. The Competitive Community Grants will launch in Spring 2025. Grant information will continue to be shared with member agency staff, and board members are encouraged to follow up with any questions.

Nupur Hiremath, Manager of Decarbonization Programs and Policy, and Leanna Huynh, Senior Programs Specialist, presented information on SVCE’s Multifamily Retrofits program, which is for existing deed-restricted affordable multifamily properties of five or more units.

Item 1g

SILICON VALLEY

CLEAN ENERGY
Agenda Item: 1g Agenda Date: 9/11/2024

Page 2 of 2 ends

Materials from this meeting can be found on SVCE’s website: SVCE Executive Committee Meeting, August 23, 2024
The next meeting of the Executive Committee will be September 27, 2024 at 10:00 a.m.; materials will be posted no later than 72 hours in advance of the meeting.

Item 1g

Page 1 of 1 ends

Staff Report – Item 1h
Item 1h: Receive California Community Power Report
To: Silicon Valley Clean Energy Board of Directors
From: Monica Padilla, CEO
Date: 9/11/2024
Per direction from the SVCE Board on December 9, 2020 for the CEO to provide a report of the ongoing activities of California Community Power (CC Power) after each of its meetings, this is to report CC Power held a regular board meeting on Wednesday, August 21, 2024.

Attached is an August summary report from General Manager Alex Morris; materials from the August board meeting can be found here on the CC Power website: CC Power Meeting, 8/21/24 The next meeting of the board will be September 18, 2024 at 1:00 p.m.; meeting materials can be found on the CC Power website: https://cacommunitypower.org/meetings/ ATTACHMENTS:

1. CA Community Power Board Meeting Summary from General Manager Alex Morris, August 21, 2024 Item 1h
SILICON VALLEY \3/ CLEAN ENERGY
California Community Power
901 H St, Ste 120 PMB 157, Sacramento, CA 95814 | cacommunitypower.org A Joint Powers Agency whose members are:

Central Coast Community Energy | CleanPowerSF | East Bay Community Energy | MCE | Peninsula Clean Energy | Redwood Coast Energy Authority | San José Clean Energy | Silicon Valley Clean Energy | Sonoma Clean Power | Valley Clean Energy
TO: CC Power Board of Directors and Alternates DATE: 8/21/24 FROM: Alex Morris – General Manager
SUBJECT: Report on CC Power Regular Board of Directors Meeting – August 21, 2024 The CC Power Board of Directors held its August Board Meeting on August 21, 2024, via Zoom.

Details on the Board packet, presentation materials, and public comment letters can be found under the Meetings tab at the CC Power website: Meetings and Agendas – ca community power Highlights of the meeting included the following:
• Matters subsequent to posting the Agenda. None.
• Public Comment. None.
• Consent Agenda - The Board approved the following items:
o Minutes of the Regular Board Meeting held on June 18, 2024. • Regular Agenda Items:
o General Manager Report – the Board heard updates on various work and potential project items. First, the GM reported that, on behalf of all nine CC Power members, a solicitation was launched to consider new renewable and storage projects, including projects for “Direct Pay” ownership consideration. (Solicitations – ca community power). Second, the Board was briefed on multiple new potential project ideas under consideration, including a Resource Adequacy trading ‘pool’ that may yield $1M-$4M in member savings in summer months, a project designed to optimize interconnection study priorities which would help CCA projects have timely studies, a CADEMO offshore wind site tour, and exploration of master-service agreements as an approach for cost-savings in some service-areas use by CCAs. Lastly, the Board received operational updates as CC Power enters its 2024-2025 fiscal year. o Resolution 24-08-01 – Approval of Acquisition of Computer Based Training Offering for CC Power Members – the board unanimously approved this authorization for CC Power to contract for four computer-based training offerings for members, including Grid 101, Grid 201, CCA 101, and FERC Anti-Market Manipulation trainings. Total not-to-exceed costs over the three-year contract are $200k. Members will be billed only if trainings are used. Costs per training will range, estimated at $200-$500/training. Trainings will be available in Q4, 2024 or sooner.

Item 1h
Attachment 1
2 • Closed Session Items:
o The Board voted to amend the CC Power Energy Storage Agreement for the Tumbleweed Energy Storage project. This action was reported in the public session of the Board Meeting. The board also discussed updates on another CC Power energy storage contract.
• Public Comments on Closed-Session Items: none
Item 1h
Attachment 1

Page 1 of 1 ends

Staff Report – Item 1i
Item 1i: Receive Additional Committee Reports
To: Silicon Valley Clean Energy Board of Directors
Prepared by: Andrea Pizano, Sr. Executive Assistant and Board Clerk Date: 9/11/2024
There are no reports for the Audit Committee, Finance and Administration Committee, and 2024 Legislative Response to Industry Transition Ad Hoc Committee as they have not met since the last report.

The next meeting of the Audit Committee will occur September 26, 2024 at 2:00 p.m.; the Finance and Administration Committee will meet in November based on member availability; the 2024 Legislative Response to Industry Transition Ad Hoc Committee will meet in October based on member availability.

Item 1i

SILICON VALLEY

CLEAN ENERGY

Page 1 of 6 ends

Staff Report – Item 2
Item 2: CEO Report
To: Silicon Valley Clean Energy Board of Directors
Prepared by: Monica Padilla, CEO
Date: 9/11/2024
REPORT
Staff Updates
Since 2017, SVCE has utilized the support of Climate Corp Fellows to complete various projects for the agency.

The fellowship program is offered through Strategic Energy Innovations and is a 10-month bridge-to-career fellowship program for college graduates, who receive a UC Climate Stewards certificate after the program. At the August Executive Committee meeting, I recognized and thanked our outgoing Climate Corps Fellows Julianne Miller and Mia Yancich for their contributions. Additionally, we’d like to thank our interns Rebecca Dawson and Elisa Floyd for their projects in 2024.

For this year’s fellowship cycle, we welcome two new fellows:

Ashlie Park
Ashlie joins SVCE as a Community Outreach Fellow. She graduated from Cal Poly SLO in 2023 with a B.S. in environmental management & protection and completed double minors in GIS and sustainable environments.

Since graduating, Ashlie has finished her internship at the Sierra Club where she worked closely with the Northern Chumash Tribal Council to assist in the designation process of the proposed Chumash Heritage National Marine Sanctuary off the Central Coast. Ashlie will help promote community involvement in sustainable energy initiatives as part of the Marketing and Communications team. Outside of work, Ashlie spends her free time golfing, exploring trails, trying new restaurants, and window shopping.

Santosh Muralidaran
Santosh is originally from Cupertino and is an early career professional in the clean energy and transportation sectors. He most recently completed a year-long research fellowship at the Alaska Center for Energy and Power of the University of Alaska Fairbanks after graduating with his bachelor degrees in 2023, and has other experience working for various think tanks and nonprofits on sustainability projects. Having lived in the French Riviera, British Columbia, and Alaska since high school, he is excited to now return back to his home region and work for SVCE as an electrification fellow under the Climate Corps Fellowship as part of the Decarbonization Policies and Programs Department. Outside of work, he enjoys running and biking and is an avid aviation enthusiast.

Anand Govindarajan
Anand joined SVCE on August 19th as a Senior Quantitative Analyst. Anand has experience providing analytical solutions and portfolio risk management services to electric utilities, CCAs, renewable and storage developers and corporations. He holds PhD and MS degrees in Energy Economics and Policy from Pennsylvania State University, and a B.S. in Chemical Engineering from National Institute of Technology in India. He will be working on the build-out and maintenance of the company-wide net revenue model and the development of market and liquidity risk analyses among other Risk Management tasks. Outside of work Anand enjoys playing tennis.

Item 2
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 2 Agenda Date: 9/11/2024

Page 2 of 6 ends

Personnel Officer Update
Recruitment efforts continue for a Power Settlements Planner or Manager in the Power Resources and Operations Department and for a Deputy Board Clerk/ Administrative Assistant to support the current Board Clerk Andrea Pizano. Finance and Administration are also recruiting for an IT Analyst and an Administrative Assistant.

Job descriptions and applications can be found on SVCE’s website: Current Job Openings Clean Energy Update
Staff continues its procurement efforts to source clean energy for calendar years 2024 and 2025. Market conditions for clean resources continue to be unfavorable for buyers. Additionally, SVCE has seen its portfolio perform slightly below expected levels through the midpoint of 2024 due to lower than expected output from its variable resources including long-term power purchase agreements for solar, wind and geothermal and allocations of large hydro and nuclear resources. Currently the agency is expected to hit ~81% clean for 2024 and 82.4% for 2025.

SVCE is on track to meet the Renewable Portfolio Standard (RPS) requirements for Compliance period four (“CP4”) which includes 2021 through 2024. Requirements include an overall RPS of 40% and long-term RPS requirement of 65% or 26% as a percent of the overall RPS.

Staff issued a request for offers (RFO) for new and existing clean resources under long-term power purchase agreements. Offers are due September 20th, 2024. The solicitation can be found on the open solicitations portion of the SVCE website, here: https://svcleanenergy.org/solicitations/.

Attachment 1 provides an update of SVCE’s clean energy efforts through long-term power purchase agreements.

Decarbonization Programs and Policy Update
Staff have been developing the new $10M program, approved by the Board in March 2024, to provide decarbonization grant funding for projects that address building and transportation electrification, resilience, and community engagement and education. The program will be divided into three areas: 1) Non-Competitive Member Agency Grants, 2) Competitive Member Agency Grants, and 3) Competitive Community Grants. Each agency will be awarded a noncompetitive allocation that can be used for projects located at facilities or public sites. The member agency competitive funding will allow agencies to pursue additional funding with the option to stack with their noncompetitive allocation. Competitive community grants will support electrification and resilience projects for interested community organizations. For more information, watch the recorded presentation (starting at 59:59) and view the PowerPoint (slide 17) from SVCE’s August Executive Meeting.

Please see Attachment 2 for a quarterly programs update.

Energy Services & Community Relations Updates
Staff have been working to get a tiny home built since the board approved funding for the project in June 2022.

The demo home features all-electric appliances for customers to see and learn about in person. The unit will be leveraged as an outreach tool to engage customers at community events and learn about available rebates and resources to go electric. Member agencies may request to reserve the demo home through an online form that will be shared soon. Staff will be able to preview the mobile, all-electric demonstration home at the September retreat on Sept. 12. The board is welcome to join this viewing at noon at the SVCE office. Staff will also send out a list of upcoming events where the demo home is on display.

On August 29 SVCE staff supported Los Altos Hills in hosting a successful ribbon cutting celebration for the recently installed battery storage system and solar-powered education kiosk. The battery system is connected to a pre-existing solar array and increases the Town Hall’s energy resilience. The outdoor kiosk is an engagement tool that helps residents explore and understand the benefits of the clean energy used to power the facility. The projects received a total of $120,00 from SVCE through our Community Grant program. Congratulations to Los Altos Hills on this project completion.

Item 2
Agenda Item: 2 Agenda Date: 9/11/2024
Item 2
The board is invited to use the SVCE Group Pass for the Verge 2024 conference in San Jose on Oct. 29 – 31, 2024. If interested, please reach out to Andrea Pizano for more information.

Please see Attachment 3 for a recap of our community engagement and marketing efforts this past month.

Regulatory & Legislative Update
Last month we reported on a proposed decision related to implementation of AB 1373. On August 22nd, the Commission voted affirmatively in favor of CPUC staff directing the Department of Water Resources (DWR) to seek up to 10.6 giga watt (GW) of new resources on behalf of CPUC jurisdictional LSEs, such as SVCE. This will be made up of 7.6 GW of Offshore Wind, 1 GW of geothermal 1 GW of multi-day storage and 1 GW of long duration storage with a minimum of 12 hours. This authorization allows the DWR to seek this amount of capacity but does not guarantee the full 10.6 GW will be procured. The actual amounts to be procured will be determined after bids are received and analyzed. If DWR procures the full amount authorized, SVCE’s share would likely be over 200 MW.

In November of 2023 my predecessor notified the board of SVCE’s decision to appeal the citation the organization received for its 2023 Year Ahead Resource Adequacy Compliance Filing. SVCE was fined approximately $3 million dollars and is appealing largely on the ground of “impossibility” to comply, including the impacts of commercial delays of long-term contracted PPAs. Having completed discovery and written testimony, SVCE and CPED will be filing opening briefs in the administrative appeal, overseen by a CPUC Administrative Law Judge, on September 20th. Both sides' reply briefs will be due October 11th. While other administrative steps may be taken, SVCE expects this to be the final step prior to a decision in the case.

The legislature finished their session on August 31st. At the end of session, lawmakers introduced an energy affordability package that contained several repackaged and new bills. Out of the package, the following bills passed and are awaiting the Governor's signature or veto:
• AB 3264 (Petrie-Norris): Reporting bill on energy burden, cost of transmission, and energy efficiency/demand-side management programs.
• SB 1142 (Menjivar): Directs the CPUC to consider a customer's ability to pay when determining terminating or reconnecting service.
• SB 1420 (Caballero): Environmental streamlining for hydrogen projects.

Other bills failed including:
• AB 3121 (Petrie-Norris): Would have returned unspent funding from a school energy/water efficiency program and two solar/storage programs to ratepayers.
• SB 1272 (Laird): Would have created a master Environmental Impact Report for renewable projects. • SB 1003 (Dodd): Would have adjusted timelines for wildfire mitigation plan approvals and required IOUs to consider both time required to implement an action and the amount of risk reduction for the cost.

Another high-priority bill for SVCE, SB 1221 (Min), which would create a neighborhood decarbonization pilot at the CPUC, also made it through the legislature and awaits the Governor's signature or veto. Finally, Governor Newsom has called for a special session this fall focused on addressing high gasoline prices.

Attachment 4 provides highlights of key regulatory and legislative activities.

Look Ahead Update
Staff continues to plan for Board and committee meetings through the end of the year. To provide the Board with a preview of what’s ahead for the Board from October 2024 through December 2024, please refer to Attachment

5. ATTACHMENTS

1. Clean Power Update, September 2024

2. Decarbonization Programs Quarterly Report, FY24 Q3 Milestones

3. Energy Services & Community Relations Update, September 2024

Page 3 of 6 ends

Agenda Item: 2 Agenda Date: 9/11/2024

Page 4 of 6 ends

4. Regulatory and Legislative Update, September 2024

5. Agenda Look Ahead, October 2024 – December 2024
Item 2
Agenda Item: 2 Agenda Date: 9/11/2024

Page 5 of 6 ends

Exhibit 1 - CEO Agreements Executed
The following agreements have been executed by the CEO, consistent with the authority delegated by the Board:
1) Rising Sun Center for Opportunity, Memorandum of Understanding: Externship program, up to 120 hours 2) Richard Heath and Associates, Amendment: Service Optimization Guides for Building Officials and Contractors, extends date to October 31, 2024
3) PFM Financial Advisors, Amendment: Financial Advisors Services, extends date to September 30, 2024 4) Camus Energy, Amendment: Software as a Service, not to exceed $664,000, extends date to September 8, 2025
5) Ion Translations, LLC, Amendment: Translations Services, extends date to September 30, 2026 6) Ascend Analytics, Amendment: General Consulting Software Tools and Support Services, not to exceed $1,426,944, extends date to March 31, 2025. Approved by the SVCE Board of Directors at the August 14, 2024 meeting.
7) Aiqueous, Amendment: Portfolio Management Support, changes made to scope of work 8) Renne Public Policy Group (RPPG), Amendment: Grant Services Bench for Advanced Clean Energy Buildings, Transportation and Innovation Programs and Projects, assignment to California Public Policy Group (CPPG)
9) Richards Watson and Gershon, Amendment: Legal Services, not to exceed $430,000, extends date to September 30, 2025. Approved by the SVCE Board of Directors at the August 14, 2024 meeting. 10) JD Power (Zappy Ride), Agreement: Master License and Services Agreement, not to exceed $284,000, Oct. 1, 2024 – September 30, 2027. Approved by the SVCE Board of Directors at the August 14, 2024 meeting.
11) Bryce Consulting, Agreement: Human Resources Consulting Services, not to exceed $34,500, Oct. 1, 2024 – September 30, 2025.
12) MMA, Agreement: Health Benefits Consulting Services, not to exceed $30,000, Oct. 1, 2024 – September 30, 2025.
13) Acterra, Agreement: EV Rebate Community Outreach Events, not to exceed $25,000, Oct. 29, 2024 – January 31, 2025.

Item 2

Page 6 of 6 ends

Exhibit 2 - CEO Power Supply Agreements Executed
Counterparty Name Execution/Effectiv
e Date Transaction Type Product Start Date End Date Notional Value Dynasty Power Inc. 8/6/2024 Purchase Resource Adequacy 10/1/2024 12/31/2024 $828,240.00 Central Coast Community Energy 8/16/2024 Purchase Resource Adequacy 10/1/2024 10/31/2024 $88,000.00 Central Coast Community Energy 8/16/2024 Sale Resource Adequacy 10/1/2024 10/31/2024 $77,000.00 NextEra 8/20/2024 Purchase Resource Adequacy 10/1/2024 10/31/2024 $70,800.00 City of Riverside 8/22/2024 Sale Import Allocation
Rights 5/1/2025 10/31/2025 $20,970.00
NRG Business Marketing, LLC 8/23/2024 Purchase Hedge Energy 11/1/2024 11/30/2024 $1,130,167.50 Morgan Stanley Capital Group 8/27/2024 Purchase Hedge Energy 12/1/2024 12/31/2024 $1,622,664.00 Morgan Stanley Capital Group 8/27/2024 Purchase Hedge Energy 1/1/2025 3/31/2025 $7,312,317.10 These agreements are included in the Board packet as Appendix A.

Item 2
0 SILICON VALLEY

CLEAN ENERGY
• Subtitle
New SV Clean Energy
PowerPoint Template
Item 2
Attachment 1
Clean Power Update, September 2024
SVCE Board Meeting
September 11, 2024

SILICON VALLEY

CLEAN ENERGY
CEO Report
Clean Power Update
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Item 2
Attachment 1
Clean Power Update, September 2024
CD Clean Long-term Power Agreements
*

SACRAMENTO GEOTHERMAL

BATTERY STORAGE

SOLAR STORAGE

SOLAR POWER
SArT^.^'\ 5
FRANCISCO* i WIND GENERATION
’
L
A
\
O "
- LONG DURATION STORAGE
\ •SAN JOSE
$3.7B+ in commitments
21 PPAs signed
18 new build projects
896 MW of Renewable Power
1,845 MWh of Battery Storage
9 Projects now delivering to SVCE:

COSO geothermal - January 2022
Slate Solar + Storage - January 2022
Casa Diablo geothermal-September 2022
Mountain View wind - July 2022
Rabbitbrush Solar + Storage -October 2022
Terra-Gen Wind - January 2023
Yellow Pine Solar + Storage - July 2023
Victory Pass Solar + Storage -March 2024
Baldy Mesa Storage (RA-only) -June 2024
2 Seller Project Name Technology Generation MW
Storage
MW Storage MWh
Approximate % of Annual
load in 2030
Term
(years)
Lifetime Not to
Exceed Authority
(MM$)
SVCE Board
Approval Status
1 MN8 Slate Solar + Storage 93 46.5 186 6.2% 17 $198 Oct-18 Online 2 Ormat Casa Diablo Geothermal 7 1.4% 10 $43 Feb-20 Online 3 Atlantica Coso Geothermal 43.8 6.1% 15 $331 Mar-20 Online 4 Leeward Rabbitbrush Solar + Storage 40 8 20 2.9% 15 $64 Apr-20 Online 5 NextEra Yellow Pine Solar + Storage 50 26 104 3.8% 20 $128 May-20 Online 6 Avantus Aratina Solar + Storage 80 50 200 6.3% 20 $368 Jun-20 Pre-construction 7 174 Power
Global Atlas Solar 50 3.6% 10 $32 Jan-21 Pre-construction 8 SB Energy Angela Solar + Storage 20 10 40 1.4% 15 $35 Mar-21 Pre-construction 9 AES Mountain View Wind 33.3 3.1% 20 $128 Apr-21 Online 10 Origis San Luis West Solar + Storage 62.5 15.625 62.5 3.9% 15 $132 Apr-21 Pre-construction 11 Clearway Victory Pass Solar + Storage 100 25 100 7.6% 15 $173 May-21 Online 12 Terra-Gen Cameron Crest Wind 77.7 4.6% 15 $150 May-21 Online 13 Rev Renewables Tumbleweed
Long Duration
Storage 15.9375 127.5 15 $100 Feb-22 Construction
14 Onward Goal Line
Long Duration
Storage 14.2 113.6 15 $100 Mar-22 Pre-construction
15 Ormat Geothermal Portfolio Geothermal 16.75 4.2% 20 $256 Jun-22 Pre-construction 16 OME Fish Lake Geothermal 1.82 0.4% 20 $30 Jun-22 Pre-construction 17 AES Baldy Mesa (RA-only) Storage 0 75 300 10 $81 Sep-22 Online 18 MRP Hanford Thermal + BESS 99.4 131.4 131.4 12 $280 Apr-23 Construction 19 NextEra Grace Solar 120 0 8.3% 15 $286 Aug-23 Pre-construction 20 NextEra Yellow Pine III Storage 0 115 460 15 $420 Aug-23 Pre-construction 21 Pattern SunZia Wind 100 0 0 7.6% 15 $361 Nov-23 Construction Item 2
Attachment 1
Clean Power Update, September 2024
•
•
•
•
•
•
Item 2
Attachment 1
Clean Power Update, September 2024
Clean Energy Resources Online Progress
as of August 30, 2024
2024 -H2
1 • Hanford BESS on Peaker: Construction mode
2025 - H1
2025 -H2
Goal Line Long Duration Storage: Pre-construction
Aratina Solar + Storage: Pre-construction - delayed
San Luis West Solar + Storage: Pre-construction - delayed Atlas Solar: Pre-construction - delayed
Yellow Pine III Storage: Pre-construction
2026 - H1 Tumbleweed Long Duration Storage: Construction mode Fish Lake Geothermal: Pre-construction
2026 -H2+
•Ormat Geothermal Portfolio: Pre-construction
SunZia Wind: Construction mode
•Angela Solar + Storage: Pre-construction - delayed
Grace Solar: Pre-construction
Item 2
Attachment 1
Clean Power Update, September 2024
SVCE is Making Significant Progress Toward
Meeting Long-Term RPS Requirements
Item 2
Attachment 1
Clean Power Update, September 2024
250
contractors
complete
FutureFit
training

DECARBONIZATION PROGRAMS
FY24 Q3 Milestones
Quarterly Report
240
customers use Go
Electric Concierge
service
1,013
completed
electrification
projects for
FutureFit Homes
Item 2
Attachment 2
DPP Quarterly Update

SILICON VALLEY

CLEAN ENERGY
Name Budget Potential Impact Cumulative Impact To-Date Last Quarter (Update) Next Quarter (Target) Multifamily
Retrofits (TE and
BE)
$12.5M 300 to 1,000 MF AH units
electrified
Soft-launched program
in May 2024. Two
property owners
submitted 6 properties
for consideration.

Launched program.

Housing Authority
submitted 4 properties for
consideration.

Select two properties to
develop Electrification
Plans for.

CHIIP, including
Affordable Housing
EVI Incentives
$11.4M
25 MUDs with EVI
4,000 L1/L2 chargers
at affordable housing
18 reservations (181
ports)
9 completed
(84 L1/L2)
Processed 3 new MUD
claims for 25 additional EV
ports.

Expand enrollment, adjust
incentive levels, focus on
more affordable housing
developers
Electrification Rate
Discount $9.5M 5,000 customers enrolled 1,900 enrolled
Customer performance
feedback, developed
DAISY tracking system
capable of scaling,
integrating E-ELEC into
other programs
Global update and discuss
future strategy
FutureFit Homes -
Residential
Incentives
$7.05M 2,800 homes fully/partially
electrified
1,013 homes
fully/partially
electrified
Continued to see strong
uptake with ~$700k in
claims
Complete user testing of
application software in
Salesforce and Rock Rabbit
Community Energy
Resilience $5.15M 13 agencies completeprojects
3 completed agency
project
South County Fire Station
completed construction,
planning joint community
ribbon cutting event
Monitor and reimburse
agencies as projects move
to completion
Decarbonization
Demonstration
Grants
$3.2M 8 local public facing
electric projects 1 project complete
Staff developed grant
resources in preparation of
grant closeout (Dec 2024)
Support grantee
community engagement
efforts
Permit
Modernization $3.2M
13 member agencies
improve electrification
permitting
Data gathered for all 13
agencies. Program just
began rolling out
Prepare draft action plan
for each agency’s input.

Work with staff to fine tune
actions and connect actions
to SVCE resources.

C&I
Decarbonization
Program
$2.5M
8,000 metric tons of CO2e
removed through carbon
saving measures
9 customer leads, 1
pilot participant
Launch program in June,
begin recruitment
Enroll 4-9 customers, begin
site assessments, outline
program at SVCE “Watts
for Lunch”
CALeVIP 1.0 $2.4M 85 DCFC installed
1,100 L2 installed
10 DCFC installed
247 L2 installed
Continued monitoring
installations
Continue making payments
to DCFC and L2 projects as
they are completed.

Customer Resource
Center (eHub) $2.1M 1.5M email opens350K unique web visits 716K email opens, 353K
web visits,
238 yard care
equipment rebates
Sent emails about Yard
Care Promotion, launched
Summer Promotion and
Summer Sweepstakes
1M email opens,
385K web visits,
Prepare eHub 2.0 launch

PROGRAMS PORTFOLIO
Active Programs
See Glossary for program descriptions. Title links to program homepage (if available).

Quarterly Report
View our active rebates here. 1
FY24 Q3
Item 2
Attachment 2
DPP Quarterly Update
Name Budget Potential Impact Cumulative Impact
To-Date Last Quarter (Update) Next Quarter (Target)
Priority Zone DC
Fast Charger
(PZDCFC) 2.0
$1.975M 10 DCFC installations
near MUD hotspots
10 of 10 ports are
live now (4 sites)
Completed 2 of 3 remaining
claims. All sites now energized.

Finalize remaining claim; fold
nearby resident outreach into
EV rebate launch.

Existing Building
Policy
Experiment
$1.9M
Spur action on building
electrification and
reduce building gas
combustion
Needs assessment
for all 13 agencies
Completed conversations with
all 13 agency directors and staff
to understand priorities
Prepare draft action plan for
each agency for staff input;
fine tune actions and utilize
SVCE resources
FutureFit
Fundamentals
Contractor
Training
$1.7M
300 contractors
trained
500 graduate
incentives
250 contractors
completed training.
106 approved
bonus claims.

Increase personal program
marketing via SMUD (direct
phone calls)
Increase direct phone call
outreach. Increase marketing
to contractors who are
enrolled in the training but
have not yet completed the
course.

GridShift EV
Charging $973K
Bill/emissions savings
and load shifting
capacity
1,431 EVs
enrolled
46 charger
rebates
Finalized REDWDS scope and
kicked off dynamic rate design
work.

Reach 1,700 EVs. Amend
contract to include
ChargeWise work
Go Electric
Advisor $892K
3,600 customers use
hotline, 1,200 use tech
assistance, 350 use
electrification plans
240 customers use
service
Increasing enrollment and
customer intake
Increase marketing
campaigns and aim for 500
new contacts
FutureFit SMB
Incentives $750K 20-30 SMBs electrified
4 SMBs
fully/partially
electrified
Increased awareness,
developed mailers and
customized email campaigns,
awarded one claim
Meet with city Economic
Development staff. Present at
Chamber meetings. Schedule
presentation with
professional organizations.

Award rebates.

FutureFit Assist $725K
60 assessments
36 projects done
250 ports
67 applications
(42 completed)
Executed new marketing and
outreach campaigns to increase
participation; enrolled 17 new
properties
Expand enrollment; determine
next phase of program
starting in 2025.

EM&V $640K
Evaluate 80% of SVCE
programs within 1 year
of launch
3 reports
completed, 3 in
progress
Completed evaluation report
for DataHive Program.

Prepared 2 draft reports.

Finalize draft reports.

Complete data gathering and
analysis for remaining reports.

Reach Codes

2.0 $600K Require all new buildingsto be emissions-free 13 agencies adopt
electrification
ordinances
Monitor and support agencies
as the Berkeley legal case
evolved (BAAQMD)
Given Berkeley decision and
upcoming 2025 state building
code, SVCE isn’t encouraging
activity for new buildings.

We’re preparing for the 2025
cycle.

SV Building
Electrification
Stronger
Together
$600K
Educate stakeholders
about building
electrification
35 new
stakeholders
engaged to date
RFP under legal review.

Planning to release RFP early
fall.

Release community
partnership grant and
conduct information session.

PROGRAMS PORTFOLIO
Active Programs
View our active rebates here. 2
FY24 Q3
Item 2
Attachment 2
DPP Quarterly Update

SILICON VALLEY

CLEAN ENERGY
Name Budget Potential Impact Cumulative Impact To-Date Last Quarter (Update) Next Quarter (Target) Programs
Marketing Fund $500K 2,500 new programenrollments
Home Rebates: 648
enrollments, 239 complete.

EV Charging Multifamily: 15
enrollments, $30,000.

Business Rebates: 14
enrollments.

Setup systems and
analytics to track expenses
and enrollments
Complete digital tracking
setup, analyze first few
months of
expense/enrollment data
Decarbonizatio
n Engagement
Grants
$442K
5 communities engage
residents on climate action
topics
In progress
Several agencies
conducted community
electrification events as a
part of Earth Month
Monitor and reimburse
agencies as projects move
to completion
Natural Gas
Phaseout
Feasibility
$300K
Complete 2 whitepapers
to inform local, regional,
and statewide policies
Near completion for 2
whitepapers
Complete financing
whitepaper and make
progress on technical
solutions analysis
Closeout technical solutions
analysis and share financing
/ technical solutions
findings with BAAQMD
Fleet
Electrification $300K
Complete fleet
electrification and charger
installation planning for 10
fleets
8 fleets in progress
Nearly fully-subscribed and
several agencies are
starting to utilize PG&E’s
fleet program to gain
increased electrical service.

Finish full designs for 2
agencies and have at least 2
others started.

SV
Transportation
Electrification
Clearinghouse
$150K Create cohort to enable
equitable electrification.

Merged into other
programs
Original goals matured into
formal initiatives. Program
is paused.

Original goals matured into
formal initiatives. Program
is paused.

Lights On
Silicon Valley
Power
Supply
Budget
750 SFH and 5 MF projects 657 enrolled SFH at outset
of delivery period
Capacity from behind-the-meter solar and storage
projects was delivered to
SVCE.

Continued delivery and
adjustments to dispatch as
needed.

PROGRAMS PORTFOLIO
Active Programs
View our active rebates here. 3
FY24 Q3
Item 2
Attachment 2
DPP Quarterly Update

SILICON VALLEY

CLEAN ENERGY
Name Budget Potential Impact Last Quarter (Update) Next Quarter (Target) Full-Service Home
Upgrades $14M
600 single-family homes
electrified; 700 emergency water
heater replacements
Continued program design with PCE. Launch program by October 2024.

Resiliency,
Engagement, and
Decarbonization
(RED) Grants
$10M
Fund resiliency, engagement, and
decarbonization projects for
Member Agencies, schools,
community groups, and non-profits
Staff finalizing program design for
Member Agency non-competitive
grants and competitive community
grants.

Release Notice of Funding.

Tariffed On Bill
(TOB) Financing $5.2M 200 customers financeelectrification Aiming for August BOD contract
approval. Presented at June Exec
Committee.

Kickoff implementation phase.

Innovation Onramp $2.4M
1-2 pilot projects per year that
advance electrification programs
and strategies
Executed contract with vendor, Rock
Rabbit. Planning next call for
proposals on an EVSE pilot at
multifamily properties.

Conduct soft launch of Rock Rabbit
app. Release request for proposals of
EVSE pilot.

Neighborhood
Electrification $1.5M
Test model to electrify buildings
within a community. Electrify 15
homes and set plans for 24 homes.

Preliminary design close to
completion. Target for fall to start
engagement.

Conduct extensive community
engagement pre-pilot and release RFP
for vendor.

EV Education &
Incentives $1.5M 600 EV purchase incentives forincome qualified customers Initiated program development,
completed stakeholder interviews,
and began strategizing CBO
partnerships.

Launch point-of-sale and Post-Purchase EV Rebate program.

Workforce
Development
Partnerships
$1.3M
Increase capacity to coordinate
and train skilled workforce for
residential electrification jobs
RFP under legal review. Planning to
release RFP early fall. Release Contractor RFP.

Additional Demand
Flexibility and
Virtual Power
Plants
pilots/programs
$1M
Connectivity to flexible, customer-sided loads to enable bill savings, avoided generation and capacity
costs, reliability and carbon
benefits
Created D-R plan for Morgan Hill and
ran 18 events June to July.

Run 30 events, including at least one
Level 2 event.

E-Bikes $500K 450 e-bikes Began initial program design Continue program design, stakeholder outreach.

Portable Heat
Pumps $500K 100 portable heat pumps Secured funding for program inMarch.

Exploring alignment with eHub 2.0
program deployment.

PROGRAMS PORTFOLIO
Planning
View our active rebates here. 4
FY24 Q3
Item 2
Attachment 2
DPP Quarterly Update

SILICON VALLEY

CLEAN ENERGY
10/2
12/2
2/23
4/23
6/23
8/23
10/23
12/23
2/24
4/24
6/24
$0.00
$500.00
$1,000.00
$1,500.00
$2,000.00
$2,500.00
$3,000.00
Rebates claimed:

Total $ Funds Reserved (in 000s)
0 10 20 30 40 50
Commercial business
Government
Multifamily
School/Nonprofit
Incentive program for L1 and L2 EV charging
infrastructure at multifamily properties
0 100 200 300 400 500 600 700
HPWH

HP HVAC
Panel Upgrades
Pre-wiring
Meter Removals
Funds Reserved:

Funds Claimed:

Goal:

FutureFit Homes
Provide incentives to residents for heat pump
water heaters (HPWH), heat pump HVAC systems,
service panel upgrades, induction cooktops, and
pre-wiring to replace gas appliances.

Future Fit Assist
Assistance in site assessment, preliminary
design, and applying to rebates for charging at
multifamily housing and small and medium
workplace properties.

Charging Installation
Incentive Program (CHIIP)
Number of Claims
PROGRAMS HIGHLIGHTS FY24 Q3
5 $1.5M
$2.9M
$703K
35 Sites, 150 ports
Rebates reserved:
= 5 Installed EVSE Ports
Total $ Funds Claimed (in 000s)
Cumulative Applications
Completed Assessments
$337k
Item 2
Attachment 2
DPP Quarterly Update
SILICON VALLEY <3/ CLEAN ENERGY
B^B^B^B^B^
B^EWEWEW
CALeVIP
Level 2 DCFC

0.000

1.000

2.000

3.000

4.000

5.000

6.000
1/23/25/2
7/29/2
1 /2
1/23
3/23
5/23
7/23
9/23
1 /23
1/24
3/24
5/24
0 50
100
150
200
250
300
Reserved
Provide incentives for electric vehicle (EV) chargers
as part of a regional program.
= 25 Level 2 Installations
300 Participants Complete
the Course (Phase 2)
Goal:

Funding: $1.5M
Completions
FutureFit Fundamentals
Provide financial relief to contractors by
expanding their knowledge of electrification
technologies.
1K Level 2 + 85 DC Fast
Chargers by 2023
Goal:

Funding: $11.58M
= 10 Participants Complete Course
Funds Issued = 5 DCFC Installations
250
Remaining Funds
Registrations
298
$3.8M
$700K $1.2M
$700K
$3.7M
6 PROGRAMS HIGHLIGHTS FY24 Q3
$1.5M
Item 2
Attachment 2
DPP Quarterly Update
**********
**********
**********
**********
0000^0^0
5 1/23/25/2
7/29/2
1 /2
1/23
3/23
5/23
7/23
9/23
4/24
0 500
1000
1500
2000
9/23
10/23
1 /23
12/23
1/24
2/24
3/24
4/24
5/24
6/24
0 100,000
200,000
300,000
400,000
GridShift EV Charging
Managed EV charging app that optimizes charging
to reduce associated costs and emissions.

Charger Rebates Issued: 45
Number of Enrolled EVs
1,423
Rebate Goal: $30K
Goal: 120 EV Chargers
eHub Report
Online customer resource center to enable
engagement, education and action related to clean
electricity, EVs and home electrification.
= 1 email campaign completed
353,782
29,747
Unique Visits Return Visits
FY 22-23
7 PROGRAMS HIGHLIGHTS FY24 Q3
Website Visit Goal:

Reach 350K Unique Visitors
Conduct 6 email campaigns
Email Goal:

Item 2
Attachment 2
DPP Quarterly Update

A A A A A A A A
AiAAAA A A A

A A A A A A

AAAAAAAA

A A A A
Built Environment
Community Energy Resilience: Resources (grants) and tools for member agencies to increase individual and collective capacity to adapt to future power outages.

Electric Showcase Awards 2.0: Award program to recognize residential, commercial, and non-profits who are early adopters of existing building electrification.

Decarbonization Demonstration Grants: Grants to encourage member agencies and other key groups an opportunity to electrify their facilities. Focus on projects with public visibility for education/awareness purposes.

Decarbonization Engagement Grants: Grants for member agencies and other key groups to work on smaller electrification engagement initiatives to engage their communities.

Electrification Rate Discount: Custom rate to promote building electrification.

Existing Building Policy Experimentation: Assess and support potential policy levers that member agencies can explore to mitigate emissions from existing buildings.

Feasibility Assessment of Natural Gas Phase Out by 2045: Feasibility study to identify technical, legal, and economic barriers and opportunities for phasing out natural gas service by 2045 in SVCE's service territory.

FutureFit Fundamentals Contractor Training: Training and financial incentive program for contractors to expand their knowledge and installation of electrification technologies.

FutureFit Homes - Concierge: Comprehensive one-on-one phone or web assistance to SVCE customers to assist them in applying for electrification incentives, technical assistance, or developing a whole-home electrification plan.

FutureFit Homes - Residential Incentives: Incentives for various building electrification technologies for single- and small multi-family residential customers. Includes major appliances as well as eventual gas meter removal.

FutureFit Homes and Buildings - C&I Incentives: Incentives for demonstration projects at a handful of small and medium business properties.

Multifamily BE Direct Install: Comprehensive building electrification retrofits with a direct installer for multifamily affordable housing sites.

Permit Modernization: Benchmark and streamline member agency permitting and inspection processes to identify barriers and opportunities to electrification.

Reach Codes 2.0: Provide model building energy codes supportive of all-electric design and EV infrastructure to member agencies along with consultant support. 8 GLOSSARY FY24 Q3
Item 2
Attachment 2
©
DPP Quarterly Update

SILICONVALLEY

CLEAN ENERGY
CALeVIP 1.0: Incentives for L2 and DCFC publicly-accessible EV chargers funded by California Energy Commission and SVCE as part of a regional collaboration.

CHIIP: Incentive program for L1 and L2 EV charging at hard-to-reach multifamily properties.

Fleet Electrification Program: Competitive application for SVCE’s fleet electrification planning support and funding for site upgrades targeting a broad set of fleet types.

FutureFit Assist: Technical assistance for preliminary site design and pertinent rebates for charging at multifamily housing and small and medium workplace properties.

Multifamily TE Direct Install: Comprehensive transportation electrification retrofits with a direct installer for multifamily affordable housing sites.

Priority Zone DC Fast Charger (PZDCFC) 2.0: Competitive grant application for DCFC installations in “priority zones” that support designated multifamily housing clusters.

SVTEC: Regular regional stakeholder meetings focused on information sharing, solving critical issues, and attracting external funding to the SVCE community in support of EV infrastructure deployment.

GLOSSARY
Lights On Silicon Valley: Provide incentives for enrolling solar and battery systems in the SVCE grid services program.

Medical Battery Program: Pilot program to deploy ~50 portable batteries to qualified customers who rely on power for medical equipment.

Customer Resource Center (eHub): Online customer resource center and marketplace to enable engagement, education, and action related to clean electricity, EVs, and home electrification.

Mobility
Power Supply
Education & Outreach
Built Environment
SVBEST: Regular regional stakeholder convenings to coordinate program alignment across building decarbonization workstreams.

Tariffed On Bill (TOB) Financing: Equitable financing pilot program for electrification for low-moderate income residents focusing cost recovery through on-bill charges that are lower than bill savings.

GridShift EV Charging: Managed EV charging phone app that optimizes charging to reduce associated costs and emissions. Includes incentives for reducing grid peak demand.

SILICONVALLEY

CLEAN ENERGY
1 Energy Services & Community
Relations
August 2024 Updates
Item 2
Attachment 3
ESCR Update, September 2024
2 1. Outreach Events & Sponsorships
Date Sponsorship/Event Location
9/7/2024 –
9/8/2024
Mountain View Arts & Wine Festival
Sponsorship & tabling
Downtown Mountain View
9/14/2024 Cupertino Rotary Club Silicon Valley Fall
Festival
10 a.m. – 6 p.m.

Sponsorship & tabling (tentative)
Cupertino Memorial Park
21121 Stevens Creek Boulevard
Cupertino, CA 95014
9/18/24 City of Campbell State of the City
6:30 p.m.

Orchard City Banquet Hall
1 W Campbell Ave
Campbell, CA 95008
9/21/2024 –
9/22/2024
Los Gatos Fiesta de Artes
Sponsorship & tabling
Los Gatos Civic Center Lawn
Los Gatos, CA 95030
9/21/2024 Assemblymember Berman Annual Health Fair
1 p.m. – 4 p.m.

Tabling
Mistral Elementary
505 Escuela Ave
Mountain View
Item 2
Attachment 3
ESCR Update, September 2024
3 1. Outreach Events & Sponsorships
Date Sponsorship/Event Location
9/29/2024 KCAT Oktoberfest
12 p.m. – 6 p.m.

Sponsorship & tabling
Los Gatos Civic Center Lawn
Los Gatos, CA 95030
10/5/2024 Morgan Hill Clean Air Day (tentative)
Time TBD
Tabling
Location TBD
10/13/2024 Day on the Bay
Tabling
Alviso County Marina Park
1195 Hope St
Alviso, CA 95002
10/19/2024 –
10/20/2024
Campbell Oktoberfest
Sponsorship & tabling
Downtown Campbell
10/29/2024 –
10/31/2024
VERGE
Sponsorship & tabling
San Jose Convention Center
150 W San Carlos St
San Jose, CA 95113
Item 2
Attachment 3
ESCR Update, September 2024
4 Participation Rate
Overall Participation
Rate
Residential 96.13%

96.15%
Commercial 96.52%

2. Customer Participation
Item 2
Attachment 3
ESCR Update, September 2024

SILICON VALLEY

CLEAN ENERGY
5 The most recent MAWG was held on August 22, 2024 and was attended by 9 different agencies and organizations with a total of 29 participants.

The following agenda items were presented and discussed:
• Assisting Government Agencies in Transitioning Fleets presented by the Director of Energy Programs at Optony Inc.
• The Right Sizing for Your EVI Fleet presented by Senior Transportation Programs Manager at Peninsula Clean Energy (PCE)
• City of Burlingame’s Fleet Experience presented by the Deputy Director of Public Works Operations at the City of Burlingame
• Policy & Permitting Update + September In-Person MAWG

3. Member Agency Working Group –
August Update
Item 2
Attachment 3
ESCR Update, September 2024
6 4. Los Altos Hills Ribbon Cutting
- Celebrated the completion of backup energy
storage and an interactive kiosk project
- Projects received a combined $120,000 in SVCE
Community Grant Funding
- Ribbon cutting attended by 10-15 residents and
SVCE and Town staff
Item 2
Attachment 3
ESCR Update, September 2024
Town Hall
26379 Fremont Rd.

Lunch will be provided. Tour to follow.
7 5. California Clean Air Day – October 2, 2024
California Clean Air Day is an annual project organized by the Coalition for Clean Air.

Each year, SVCE adopts a resolution to pledge support as an organization.

Member agencies in SVCE service territory also pledge support and hold events in honor of Clean Air Day, like Morgan Hill’s Clean Air Week in 2023.

On October 7, 2023,
MH staff invited
SVCE to participate
in their Clean Air Day
Community event
Item 2
Attachment 3
ESCR Update, September 2024
8 Two NextDoor posts in August. 3,500 new members joined since last month.

Topic: Summer Sweepstakes
Audience: Entire service area
Impressions: 16,643 impressions

6. August NextDoor Summary
Topic: Los Altos Hills Ribbon Cutting
Audience: Los Altos Hills residents
Impressions: 1,095 impressions
Item 2
Attachment 3
ESCR Update, September 2024
©
SiliconValley Clean Energy9
SVCE Community Relations Team •8 Aug •Edited
Curious about how you can use your clean energy? Learn about the ways you can go electric with our Summer Sweepstakes, and you'll have a chance to w See more SILICON VALLEY <3/ CLEAN ENERGY

SUMMER SWEEPSTAKES
Appliances Assistant
appliances.svcleanenergy.org
Posted to Subscribers of Silicon Valley Clean Energy
Q2 1 Q 16,643 Impressions n d>
©
SiliconValley Clean Energy 0
SVCE Community Relations Team •12 Aug
We're excited to invite you to Los Altos Town Hall on August 29 from 11 a.m. to 12 p.m. to celebrate the completion of the Backup Energy Storage Proje See more 26379 Fremont Rd.

Lunch will be provided. Tour to follow.

Los Altos Hills Town Hall Ribbon Cutting + Tour
26379 West Fremont Road • 11:00 AM
Posted to Subscribers of Silicon Valley Clean Energy in1area P Q • 1,095 Impressions a
9 7. Press Releases & Media
Press Releases
• Groundbreaking clean energy financing program will help Californians electrify, Press Release, 08-15-24
• Los Altos Hills Increases Resilience with Backup Energy Storage, Press Release, 09-04-24
Media Mentions
• California CCA Silicon Valley Clean Energy Seeks Carbon Free Energy, Energy Storage Proposals, American Public
Power Association, 08-13-24
• Power bills freaking you out? A clean energy sherpa can help, San Francisco Chronicle, 08-14-24
• California wants homes to go all-electric. But what if you don’t have enough money? San Francisco Chronicle, 09-01-24
Item 2
Attachment 3
ESCR Update, September 2024
SanXrand^co (Chronicle SUBSCRIBE: ONLY 25C Sigoin

OPINION // OPEN FORUM
Power billsfreaking you out? A clean energy sherpa can
help
Ry Katharine Ellison
Aug 14. 2024 ® ® ®
Dave Huntley shows off the Tesla energy storage system in the garage of his Petaluma home. There'shelp for people who want to transition to clean energy.

Erik Castro/Spaclal to the Chronicls 20»
Ad removed Details
If you're anythinglike me — freaked out about climate change and risingutility bills and dimly aware of new government enticements for homeowners to ditch fossil fuels — you’re wonderingwhether toupdate your home energy system. • Subtitle
New SV Clean Energy
PowerPoint Template
Item 2
Attachment 4
SVCE Reg/Leg Update, September 2024
Item 2
Attachment 4
SVCE Reg/Leg Update, September 2024
CD Policy Updates
Regulatory Update:

1. Integrated Resource Planning

2. Timely Energization
Legislative Update:

1. SVCE and CaICCA Bill Status Updates
2, 2024 Legislative Calendar
2 Item 2
Attachment 4
SVCE Reg/Leg Update, September 2024
Regulatory
Update
Item 2
Attachment 4
SVCE Reg/Leg Update, September 2024
Key Regulatory Activities
Activity Purpose Status
Integrated Resource
Planning (R.20-05-003)
Electric Integrated Resource
Planning and Related
Procurement Processes.

A decision was voted out related to the use of AB 1373, allowing the Department of Water Resources (DWR) to procure long-lead time resources via a Central Procurement Entity (CPE) mechanism.

This decision directs DWR to seek up to 10.6 GW of new capacity on behalf of all CPUC jurisdictional LSEs. This includes 7.6 GW of offshore wind, 1 GW of geothermal, 1 GW of multi-day long-duration energy storage (LDES) and 1 GW of LDES of a minimum of 12 hours. Importantly, these are maximum procurement numbers and DWR may procure less, depending on the viability and costs of actual offers received. This capacity will have target online dates between 2031 and 2037.

Timely Energization (R.24-
01-018)
Order Instituting Rulemaking to
Establish Energization Timelines.

On August 12, 2024 the California Public Utilities Commission (CPUC) issued a Proposed Decision on Timely Energization. In the Proposed Decision, the CPUC proposes to adopt a maximum energization timeline of 333 calendar days (on average for the different types of energization projects). These timelines would go into effect immediately. The timelines do not include the time for dependencies not under the investor owned utilities' control which include customer actions necessary to acquire permits, acquisition of easements, and other requirements as identified by the local, regional, or state authority/authorities having jurisdiction over the energization site. The CPUC also proposes to direct lOUs to assign a single point of contact project manager to each approved energization application within 10 business days of it being approved and improve the customer energization experience by providing a method for customers to complain to the CPUC about energization delays. The decision is expected to be voted out September 12th, 2024, at the earliest.

Item 2
Attachment 4
SVCE Reg/Leg Update, September 2024
Legislative
Update
5 Item 2
Attachment 4
SVCE Reg/Leg Update, September 2024
0 SVCE and CaICCA Bill Positions
Bill Summary CaICCA or SVCE
Position
Status
AB 3264 (Petrie-Norris) Requires reporting on demand side management programs and requires
development of a framework to assess,
track, and analyze total annual energy
costs.

CaICCA working on a
clean-up bill next year
on CCA-reporting
jurisdictional issues.

Governor’s Desk
SB 1095 (Becker) Prohibits mobile home parks and
homeowner associations from
instituting barriers to electric
appliances.

SVCE Support/CaICCA
Support
Died
AB 2513 (Pellerin) Requires health warning labels on gas stoves.

SVCE Support Governor's Desk
SB 1221 (Min) Creates a neighborhood zonal
decarbonization pilot at the CPUC.

SVCE Support Governor's Desk
SB 382 (Becker) Building electrification disclosures. SVCE Support Governor’s Desk Item 2
Attachment 4
SVCE Reg/Leg Update, September 2024
0 SVCE and CaICCA Bill Positions
1 Bill Summary CaICCA or SVCE
Position
Status I
AB 2368 (Petrie-Norris) Reliability planning SVCE Support Governor's Desk SB 1130 (Bradford) Allows households with less than 3
people to enroll in the FERA low-income
bill assistance program.

CaICCA Support Governor's Desk
AB 817 (Pacheco) Would allow Board Committees that are
purely advisory to use pandemic-era
teleconferencing rules.

CaICCA Support Died
AB 2779 (Petrie-Norris) Requires CAISO to report on any use of grid enhancing technologies to the CPUC
and legislature.

CaICCA Support Governor's Desk
SB 1165 (Padilla) Allows transmission projects to go
through the permitting process at the
CEC instead of the CPUC.

CaICCA Support Died
7 •
•
•
•
•
•
•
•
•
•
•
•
•
Item 2
Attachment 4
SVCE Reg/Leg Update, September 2024
1 Key 2024 State Legislative Milestones
January 3—Legislature Reconvenes
January 12—Last day for policy committees to hoar fiscal bills from their house last year January 19—Last day to submit bill requests to Legislative Counsel; last day for committees to hoar and report to the floor bills introduced last year
January 31—Last day for each house to pass bills introduced last year February 16—Last day for bills to bo introduced
April 26—Last day for policy committees to vote on fiscal bills May 17—Last day for fiscal committees to hoar bills introduced in that house May 24—Last day for each house to pass bills introduced in that house Juno 15—Budget bill must pass by midnight
July 3—Last day for policy committees to vote on bills
August 16—Last day for fiscal committees to vote on bills August 31—Last day for each house to pass bills
September 30 - Last day for Governor to sign bills
8 •
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Item 2
Attachment 5
Agenda Look Ahead: October - Dec 2024
October
9th: BOD Meeting
Agency Policies Streamlining
Project Update & Recommendation Part 1-
Action
Clean Pathways Update &
Recommendation -Action
Educational Fund -Action
New Clean PPA -Action
Possible Closed Session on Pending
Litigation
November
13th: BOD Meeting
2025 Legislative Policy Platform -Adopt
GreenPrime Product Offering & Rate -
Action
Future Use of Revenue Surpluses-Discussion
Local Agency Action Planning -Information
Possible Closed Session on Real Estate
k
December
11th: BOD Meeting
Approve Budget Update, 2025 Customer
Rate Setting, and Additional Budget Funding
Items (including future use of revenue
surpluses) -Action
Net Energy Metering Rates -Action
FY25 Programs Budget-Action
2025 Board Elections Info -Information
Agency Policies Streamlining Project Part 2
- Action
FY 2025 Q1 Strategic Plan Update -
Information
*Please note the items on this schedule may change
depending on priorities
1

Page 1 of 7 ends

Staff Report – Item 3
Item 3: Adopt the Fiscal Year 2024-25 Recommended Operating Budget, Staff Benefits Update, and Updated Reserves Policy Targets
From: Monica Padilla, CEO
Prepared by: Amrit Singh, CFO and Director of Administrative Services Karen Chang, Manager of Finance
Date: 9/11/2024

RECOMMENDATION
Staff recommends that the Board of Directors adopt resolution 2024-13 approving the fiscal year (FY) 2024- 25 1 Recommended Operating Budget (“Recommended Budget”), which includes at a high level the following:

1. Projects depositing $14.0 million into the reserves;

2. Updates SVCE’s staff benefits;

3. Maintains a four percent (4%) discount to PG&E’s rates; and

4. Updates the Reserve Policy2 increasing the Target for Days Cash on Hand (DCOH) from 300 to 350 and the Maximum DCOH from 490 to 500.

FINANCE AND ADMINISTRATION, EXECUTIVE COMMITTEE & BOARD REVIEWs At the May 13, 2024, Finance and Administration Committee (“Committee”) meeting and the June 12, 2024, Board of Directors meeting, staff presented the methodology, framework, and key assumptions for developing the Recommended Budget and responded to the Committee's and Board members’ questions on the approach to developing the budget.

Staff discussed the high volatility in the energy markets and very high prices for Resource Adequacy (RA), Renewable Portfolio Standard (RPS), and Carbon Free (CF) products, which added additional uncertainty to budget projections. Staff also discussed that, like the last fiscal year, the prices that the California Public Utilities Commission (CPUC) will establish for RA and RPS in the Market Price Benchmarks (MPBs), issued in the fall and used to set PCIA3rates will substantially impact the budget. Pacific Gas and Electric (PG&E) is advocating that the CPUC use last year’s MPB RA prices instead of the higher levels observed in the market.

Staff proposed using last year’s RA and RPS MPB prices for this initial budget and updating the budget in December to incorporate the final CPUC-published MPB prices.

Staff also presented an analysis of leasing an office building versus buying a building to the Executive Committee at its June 28, 2024, meeting. Staff discussed potential future office space needs and proposed a 1 The fiscal year 2024-25 starts on October 1, 2024, and ends on September 30, 2025. 2 SVCE’s Financial Reserves Policy can be found here: FP9 Financial Reserves Policy 3 Public Utility Code Sections 366.1 and 366.2 require the CPUC to make sure that customers leaving PG&E do not burden remaining PG&E customers with costs that were incurred to serve them. To ensure customer indifference, CCAs and Direct Access or departing load customers are required to pay a power charge indifference adjustment (PCIA).

Item 3
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 3 Agenda Date: 9/11/2024

Page 2 of 7 ends

plan to lease office space in the near term and revisit the option to purchase in about 4 years. The Executive Committee unanimously concurred with the staff’s recommendations.

Staff presented the Recommended Budget to the Finance and Administration Committee on August 6, 2024.

The Committee voted unanimously to recommend that the Board of Directors approve the staff’s Recommended Budget and the proposed updates to staff benefits and reserves policy target thresholds. The Committee commented that it’s an opportune time to hire talent, especially from the technology sector. The Committee also discussed providing more than 240 hours of employee parental leave benefit but concurred with the staff’s recommendation of increasing it from 120 hours to 240 hours. The Committee noted that this change is moving in the right direction, employees can further supplement parental leave with accrued paid time off (PTO), and employees who give birth to children are also eligible for short-term disability.

At the August 14th, 2024, Board meeting, staff presented the Recommended FY2024-2025 budget and the updates to staff benefits and reserves policy target thresholds. The Board reviewed the Recommended Budget, supported the budget as shown, and discussed adding an additional staff holiday. Staff considered an additional holiday and is proposing to add a floating holiday to allow employees to commemorate specific days meaningful to them.

ANALYSIS & DISCUSSION
The FY 2024-25 Proposed Operating Budget, shown in Attachment 1, is balanced and presents Silicon Valley Clean Energy (SVCE) in a stable financial condition. The projected balance available for reserves of $14.0 million is a decrease of $98.6 million below the $112.6 million presented in the FY 2023-24 Mid-Year Budget.

Energy Revenues
The Recommended Budget shows a decrease in revenues of $111.8 million compared to the FY 2023-24 adjusted mid-year budget. The revenue decrease is primarily due to a forecasted increase in 2025 PCIA of about 178 percent (from 1.05 cents/kWh to 2.92 cents/kWh) and a drop in the 2025 PG&E generation rate of about 14 percent on average (from 16.00 cents/kWh blended average 2024 rate to 13.76 cents/kWh) because of declines in forward energy prices. From the mid-year budget update, the energy prices for the calendar year 2024
4 , which are used to calculate the MPB, are down about 23%, and the forward prices for the calendar year 2025 are down, on average, about 9%. The significant increase in PCIA combined with a drop in PG&E generation rates reduces SVCE margins by 28 percent on average for 2025.

Staff used the CalCCA’s NewGen Strategies & Solutions Model to forecast PCIA and PG&E generation rates with updated energy market prices after calibrating it with PG&E’s May Energy Resource Recovery Account (ERRA) forecast of 2025 rates. As discussed at the June Board meeting, given the high uncertainty in prices the CPUC will establish for RA and RPS prices when adopting the MPB in the fall, staff used last year’s MPB prices for RA and RPS and updated the energy price assumptions consistent with those used to develop the FY2024-25 budget. Like last year, RPS prices and RA costs are highly volatile compared to the past, creating an additional layer of uncertainty in forecasting PCIA and PG&E generation rates. Staff estimates that if the CPUC continued its methodology for establishing RA and RPS MPBs, these MPBs would be much higher than last year's.

Unlike energy prices, where there are readily available market-traded forward prices, the RA and RPS prices used in the PCIA and PG&E generation rate calculations are based on CPUC’s derived MPBs, published later in the fall. It’s challenging to forecast the CPUC’s MPB prices because CPUC calculates them using a volume-weighted average of load-serving entities’ (LSE) market transactions, which can span forward transactions entered by the LSEs during the prior two years. While energy prices have declined, RA and RPS prices have 4 Calendar year 2024 calculation includes actuals for past months and forwards for future months.

Item 3
Agenda Item: 3 Agenda Date: 9/11/2024

Page 3 of 7 ends

continued to increase. SVCE’s estimates of MPBs for RA and RPS are much higher than last year’s MPBs5. For example, staff’s estimate for 2025 forecast RPS MPB is about $62 MWh, and last year’s forecast MPB was $31.73 per MWh. Because these MPB prices will significantly impact PCIA, PG&E is actively advocating that the CPUC use last year’s forecast RA price to keep PCIA at a much higher level. In computing SVCE’s power supply costs, staff computed the open RA and RPS position costs at current market prices. Holding for other variables, this disparity in RA and RPS prices used for projecting costs versus PCIA and PG&E generations rate tends to make the budget forecast conservative. Using staff’s estimate for RA and RPS MPBs in the NewGen model, the fiscal year 2024-25 revenues would be about $145 million higher for illustrative purposes.

PG&E’s forecast of 2025 rates in the ERRA filing made in May 2024 shows a higher PG&E Generation Rate of ~13.956 cents/kWh to 14.39 cents/kWh (based on two proposed methodologies for allocating common costs) and a PCIA of 2.51 cents/kWh to 2.79 cents/kWh. PG&E’s filing, however, is based on results using market prices in late March 2024, and market prices have decreased since then. Based on the ERRA filing schedule, PG&E will update its rate forecast in early fall, and the CPUC is expected to approve new rates in late December.

To test the accuracy of the NewGen model, staff calibrated the model to PG&E’s forecast using the same period market data PG&E used in developing its 2024 rate forecast. The calibration shows that the model results generally align with PG&E’s forecast.

Given the uncertainty on MPBs that CPUC will establish in the fall and PG&E’s update of its generation rates and PCIA using the MPBs, staff recommends that SVCE update the revenue projections in December 2024 when there’s more certainty on the 2025 PCIA and PG&E generation rates. Between now and when the rates are finalized, market prices will change, which can create less or more favorable results.

The Recommended Budget continues the current 4 percent overall discount relative to comparable PG&E generation rates for all customers. It provides an additional dollar bill credit to CARE & FERA customers (~26,500) that, in the aggregate, is equivalent to a 1 percent discount for all customers. This amounts to $4.4 million after the delivery of 12 monthly bill credits of ~$13.85 for each enrolled customer. The budget shows the bill credits as a separate cost item.

The Recommended Budget continues to reduce revenues to account for potential write-offs for unpaid bills that could occur. SVCE’s proposed revenues include a 0.75% write-off rate, or roughly $3.3 million.

Power Supply Expenses
The forecasted power supply expenses for FY2024-25 are higher by about $22 million relative to the mid-year budget for FY2023-24. This increase is primarily driven by increased costs for clean energy resources and a projected increase in load of 1.6%, partially offset by lower forward energy market prices.

The forecast expenses are lower than the mid-year budget forecast for FY2024-25, primarily due to a decrease in energy market prices and a decrease in the clean portfolio target from 100 to 90%. The cost of carbon-free attributes has risen to above $30/MWh. Additional Power Purchase Agreements (PPAs) coming online also further reduce costs.

Reserves Policy Target Levels
At the June 12th, 2024, Board of Directors meeting, staff presented the results of the stress test analyses.

Staff discussed the need to hold sufficient reserves to ensure SVCE can withstand risks such as those modeled in the analyses. The stress test modeled a collapse in energy, RA, and RPS prices that substantially reduce 5 SVCE’s estimate for 2025 forecast RA MPB is about 120% higher than last year’s 2024 forecast MPB, SVCE’s 2024 estimate for final RPS is about 58% higher than last year's forecast 2024 RPS, and SVCE’s 2025 forecast RPS is about 95% higher than last year's 2024 forecast RPS. 6 The rates shown in this report are SVCE load-weighted average rates.

Item 3
Agenda Item: 3 Agenda Date: 9/11/2024

Page 4 of 7 ends

revenues, models a one-time cash draw equivalent to the two highest months of procurement under the low-price scenario as a proxy for business operating and regulatory risks, and increased customer bad debt to 1 percent of revenues. Staff has since updated the stress test scenario analysis with portfolio data consistent with those used to develop the Recommended Budget. Staff did not refresh the market prices because prices are generally comparable to the original stress-test assumptions. The more significant driver of results is uncertainty surrounding CPUC’s adoption of RA and RPS prices for MPBs. Given limited market data for these products, staff used the original stress test numbers. Staff also corrected the original stress test analyses for some modeling errors discovered when updating the results.

As shown in the table below, the new implied targets, derived using the methodology discussed in the stress test analysis, are higher than the current targets. The method of deriving the targets is to set the target level such that if the modeled stress scenario were to occur, the DCOH would remain above 120 for the next two fiscal years and set the upper reserve target such that it would stay above 90 DCOH over the next five fiscal years.

Staff recommends increasing the target reserves to 350 DCOH, given the considerable market price uncertainty, especially for RA and clean energy resources. This level also aligns with the credit rating agency’s guidance that DCOH in excess of 300 is viewed as positive for credit ratings. Staff does not recommend the higher maximum implied target from the analyses but recommends rounding the upper target to 500 DCOH.

The higher implied targets result from conservative RA and RPS price assumptions. Staff will work with brokers and other market participants to gather more market data for RA and RPS products and continue to assess the ability to stochastically model these prices similarly to the modeling of energy prices. Staff monitors the variability in financial results almost every week and can quickly recommend any strategic policy changes to the Board. The proposed upper limit provides sufficient headroom to manage financial reserves without setting it too high, where it can limit SVCE’s advancement of its mission. A redlined version of the reserve policy reflecting the proposed new targets is shown in Attachment 2. The redlined version further clarifies that the reserve balance is reduced for earmarked funds in computing excess reserves.

Operating Expenses
Operating expenses are expected to grow in the Recommended Budget, increasing by $4.3 million from the FY2023-24 adjusted mid-year budget, including an overall 5 percent contingency, which amounts to about $1.75 million embedded in all operating expense category increases.

The increase in projected operating expenses is due to:

1. Data Management
The Current Data Management vendor contract will expire by the end of 2024. Staff has issued vendors a Request for Proposals (RFP) for a new contract. The budget accounts for a potential increase in Data Management fees, including for services that may be added to the scope of the new Data Management services contract.

2. PG&E Fees
Staff is expecting a modest increase due to inflation starting in 2025 for a new contract. The Recommended Budget reflects an increase for nine months in 2025.

Item 3
Reserve Targets (DCOH) Current Implied
Targets
Proposed
Minimum 120 120 120
Goal (Target) 300 342 350
Maximum (Upper Target) 490 713 500
Agenda Item: 3 Agenda Date: 9/11/2024

Page 5 of 7 ends

3. Personnel Expenses
Personnel expenses are expected to increase by $2.5 million. Of the increase in personnel costs, $1.8 million is from lower vacancy savings than the Mid-Year budget, which was partially based on actual vacancy rates as opposed to the 5 percent annual vacancy rate assumed in the Recommended Budget. SVCE continues to work to fill positions and anticipates full staffing by the end of the calendar year but utilizes a 5% long-term vacancy rate in the personnel budget. The budget includes a 3.0% cost-of-living adjustment to salaries, based on a trailing six-month average for the Bay Area CPI, which adds $363 thousand in additional cost and a 3% average merit increase, as determined by management during the upcoming annual review process, which contributes another $363 thousand in cost increases. The budget proposes no increase in headcount. The current focus is to fill the remaining vacancies and comprehensively assess overall organizational staffing needs. This report includes recommended salary tables (Attachment 3) and organization charts (Attachment 4).

4. Professional Expenses
Overall, Professional Expenses increased by about $1.16 million. These primarily resulted from anticipated increases in vendor contracts fees, including those from recently board-approved contracts, membership fees, legal fees, and IT support and services, including enhancements in cybersecurity. The increase also accounts for Human Resources support, including external recruiting and adding new modules to the Human Resources Information System to consolidate payroll, performance review, and employee learning tools into a single platform to improve effectiveness and efficiency.

5. Marketing and General and Administrative
These expenses increased by about $218 thousand, primarily from increased hardware, travel, training, and anticipated conference fees.

Updates to Employee Benefits
Staff recommends minimal employee benefit updates to remain competitive in the labor market. Staff proposes adding Cesar Chavez Day, celebrated by most of our member agencies and other CCAs, as an SVCE-approved holiday and an additional floating holiday to allow employees to commemorate specific days meaningful to them. The additional floating holiday must be used within the calendar year and does not carry over. The proposed changes include extending parental leave to 240 hours from 120 to better align with peer agencies, bereavement leave to 5 days from 3 days to align with state compliance, and a $500 one-time stipend for remote work setup, which was offered during COVID, to now be an ongoing benefit for new employees and to those who did not receive the benefit after its expiration. A redlined version of the staff benefits summary with these proposed updates is shown in Attachment 5.

Programs Budget
SVCE will continue incorporating projected programs spending over the 5-year forecast period into the reserve balance projections and forecasting the ending net position as shown in the 5-year financial forecast in Attachment 6. For this coming fiscal year, programs spending is projected to be $30.1 million, with an additional $825 thousand in CRCR7 spending, and $850 thousand in E-Elec (all electric) rate discounts.

The Recommended Budget transfers an additional $8.8 million, two percent of projected revenues, $3.7 million from the PG&E nuclear allocation savings, representing the portfolio’s savings from accepting the allocation, and $1.8 million for the Hanford Hybrid Plant Emissions Mitigation Guidelines, which the Board approved in May 2024.
7 CRCR, the ~$10 million Customer Relief and Community Resilience Program, was established in 2020 to provide COVID credit payments to income-qualified customers as bill assistance, support local workforce training, and fund resiliency planning and capital expenditures at SVCE member cities.

Item 3
Agenda Item: 3 Agenda Date: 9/11/2024

Page 6 of 7 ends

Non-Operating Revenues
The Recommended Budget expects non-operating revenues to grow by about $3.4 million from the FY2023-24 adjusted midyear budget. This increase reflects the increase in interest earned on the growing reserve balance.

Non-Operating Expenses
The Recommended Budget expects non-operating expenses to increase by about $21 thousand from the FY2023-24 adjusted midyear budget. The increase reflects the newly CPUC-adopted method for Provider of Last Resort (POLR) collateral calculations and the bank fees associated with its respective Financial Security Requirement (FSR) posting amount.

Office Building Initial Capital
Staff proposed an overall strategic direction on leasing or buying a new office building to the Executive Committee at its June 28th, 2024, meeting. SVCE’s current lease runs through September 2025. Before the current lease expires, staff must finalize a new lease or purchase an office building to allow enough time for renovation and office move.

The Executive Committee unanimously agreed with the following staff proposal:
• Enter a 3-to-5-year lease with a target start date of October 2025 • Seek 11,000 to 14,000 square feet of a Class A building located within SVCE’s service territory • If the start date of the new lease is after October 2025, authorize an extension of the current lease for up to 6 months
The actual lease and terms will be brought to the Board for consideration and approval in a closed session before the end of 2024. Initial estimates show roughly $1 million for renovation, including furniture costs. This cost has been included in this Recommended Budget as a capital expense. Staff also included an estimated high-level rental price for a new lease in the budget. The 5-year budget projection assumes a building purchase in the fiscal year 2028-29.

STRATEGIC PLAN
The recommendation supports all goals of the board's adopted strategic plan. Specifically, the recommendations strongly support Goal 19 - “Commit to maintaining a strong financial position” and the accompanying Measure, “Present balanced budget that achieves cash reserve targets, weighs tradeoffs between customer value proposition and contribution to reserves and maintains competitive rates.”

ALTERNATIVE
Staff is open to feedback and suggestions from the Board. At a strategic level, the Board can change the discount to comparable PG&E rates, reduce the carbon-free and renewable power supply percentages, and cut the program expenditures.

Considering any of the above options requires an extensive policy-level discussion. The board can consider them while finalizing SVCE’s strategic priorities and revisit the customer discount rate when actual PCIA and PG&E generation rates are known. Given a sufficient projected reserve balance that maintains SVCE’s stable financial condition, staff does not recommend any specific reductions.

FISCAL IMPACT
The FY 2024-25 Recommended Operating Budget includes total revenues of $441 million and total expenses, non-operating revenues, and transfers of $427 million, resulting in a surplus/contribution to reserves of $14.0 million.

ATTACHMENTS

1. FY 2024-25 Recommended Operating Budget

2. Updated Financial Reserves Policy
Item 3
Agenda Item: 3 Agenda Date: 9/11/2024

Page 7 of 7 ends

Item 3

3. FY 2024-2025 Recommended Salary Table

4. FY 2024-2025 Recommended Organization Chart

5. FY 2024-2025 Recommended Benefits Summary

6. 5-year Financial Forecast

7. Resolution 2024-13, Adopting the FY 2024-25 Operating Budget Attachment 1

SILICON VALLEY CLEAN ENERGY
FY 2024-25 OPERATING BUDGET
($ in thousands)
FY 2023-24 FY 2024-25

MID-YEAR

ADJUSTED PROPOSED
DESCRIPTION BUDGET BUDGET $ %

ENERGY REVENUES
Energy Sales 550,852 438,837 (112,015) -20.3%
Green Prime 1,962 2,213 251 12.8%
Other Income 50 0 (50) -100.0%
TOTAL ENERGY REVENUES 552,864 441,050 (111,814) -20.2%

ENERGY EXPENSES
Power Supply 365,617 387,145 21,528 5.9%
OPERATING MARGIN 187,247 53,905 (133,342) -71.2%

OPERATING EXPENSES
Data Management 3,413 3,734 321 9.4%
PG&E Fees 1,470 1,516 46 3.2%
Salaries and Retirement 14,818 17,388 2,570 17.3%
Professional Services 8,210 9,370 1,159 14.1%
Marketing & Promotions 1,565 1,617 52 3.4%
General & Administrative 2,643 2,808 166 6.3%
TOTAL OPERATING EXPENSES 32,118 36,433 4,315 13.4%
OPERATING INCOME (LOSS) 155,132 17,472 (137,659) -88.7%

NON-OPERATING REVENUES
Interest Income 12,867 16,299 3,432 26.7%
TOTAL NON-OPERATING REVENUES 12,867 16,299 3,432 26.7%

NON-OPERATING EXPENSES
Financing 3 24 21 696.7%
TOTAL NON-OPERATING EXPENSES 3 24 21 696.7%
TOTAL NON-OPERATING INCOME (EXPENSES) 12,864 16,275 3,411 26.5% CHANGE IN NET POSITION 167,996 33,747 (134,249) -79.9%

CAPITAL EXPENDITURES, INTERFUND

TRANSFERS & OTHER
Capital Outlay 50 1,002 952 1904.0%
Building Fund 20,000 (20,000)
Program Fund 28,874 8,821 (20,053) -69.5%
Nuclear Allocation 2,188 3,708 1,520 69.5%
Customer Bill Relief 4,300 4,411 111 2.6%
Hanford Emissions Mitigation Fund 1,800 1,800
Other

TOTAL CAPITAL EXPENDITURES, INTERFUND
TRANSFERS & OTHER 55,412 19,742 (35,670) -64.4%
BALANCE AVAILABLE FOR RESERVES 112,584 14,005 (98,579) -87.6% Change
Item 3
Attachment 1
Page | 1 Amended: 9/13/202398/611/2024
FP9
Category: FINANCE

FINANCIAL RESERVES
POLICY
I. PURPOSE
This Reserve Policy outlines the appropriate types and levels (minimum, goal, and maximum) of financial reserves as prescribed in the following policy. The primary reason for a reserve policy is to be prepared for contingencies, but other reasons also exist. Seven important purposes of a reserve policy are as follow:

1. Plan for contingencies. To maintain sufficient reserves to minimize rate increase due to market volatility(power supply shocks or maintain rate competitiveness), weather impacts on demands, economic downturns, emergencies
(such as natural disasters), and regulatory changes.

2. Maintain good standing with rating agencies. By
maintaining sufficient reserves, SVCE can preserve good credit ratings, allowing it to secure power at lower costs, that is, without posting credit enhancements, in the energy markets.

3. Avoid interest expense. To avoid interest expense to cover short-term cash shortfalls by having sufficient
reserves to use for this purpose, rather than debt.

4. Ensure cash availability when revenue is unavailable.

To bridge times of the year that normally see temporary low levels of cash.

5. Plan for anticipated future rate increases by gradually raising those rates, using reserves to cushion the full impact on customers over an extended time period. For
example, if it is expected that rates are highly likely to increase in 3 to 5 years, higher reserves on hand can cushion those rate increases over a more gradual timeframe by
drawing down on the accumulated funds that may be in
excess of the reserves’ goal.

6. Manage the risks identified in the Energy Risk
Management Policy, which are:

SILICONVALLEY

CLEAN ENERGY
Page | 2 Amended: 9/13/202398/611/2024
FP9
Category: FINANCE
• Market price risk,
• Net revenue risk,
• Counterparty credit and performance risk,
• Load and generation volumetric risk,
• Operational risk,
• Liquidity risk, and
• Regulatory/legislative risk.

7. Establish clear expectations between the Board of
Directors and staff. A formal reserve policy creates a
shared understanding of the proper level and use of reserves.

II. POLICY
Reserve Levels Established
Financial reserves shall be set aside as follows:

The Reserve targets cover the operations of SVCE over a number of days in the event of emergencies or other significant unforeseen events. Three levels are defined, with the first being baseline. Given the purposes stated above, the Reserve shall be maintained at no less than the minimum described in (a) below. The reserve level described in (b) is recommended as the goal. The Maximum reserve level described in (c) would provide solid reserves for significant fluctuations in revenue or unforeseen circumstances. The Board shall review its reserve levels annually in context of SVCE’s overall financial condition of the agency, as well as due to changes to the industry and/or risk factors as described in periodic review of targets below.
(a) Minimum Operating Reserve (baseline) shall be the minimum maintained to cover 120 days of operations of the annual operating budget;
(b) An Operating Reserve goal of covering 300 350 days of operations of the annual operating budget;
(c) Maximum Operating Reserve to cover 490 500 days of
operations of the annual operating budget.

SILICONVALLEY

CLEAN ENERGY
FP9
Category: FINANCE
Page | 3 Amended: 89/611/20249/13/2023
Conditions for Use of Reserves
For purposes of this policy, use of reserves is defined as a projected or estimated1reduction in reserves by fiscal year-end. A temporary reduction in cash consistent with the expected peaks or dips in revenues and expenditures are normal cyclical occurrences to be expected during the fiscal year, and do not constitute a use of reserves.

The reserves may be drawn down upon by the CEO during the year, up to the lesser of 10% of the year’s budgeted cost of power supply, or $30 million, to:

1. Cover increases in power supply expenses due to spikes in costs and/or due to higher customer demand;

2. Provide necessary funds to make up for unanticipated revenue shortfalls;

3. Meet any margin or collateral posting requirements under energy supply contracts; and,

4. Provide resources to meet emergency expenditures.

If further use of reserves are needed to manage the operations of the organization, or if the use of reserves would bring the balance below the Minimum Operating Reserve baseline, the CEO must present recommendations to the Board and the Board must authorize any such use.

Replenishment of Reserves
Should SVCE drawdown reserves below the Minimum Operating Reserve level, SVCE will implement plans to return reserves to their minimum targets within two (2) fiscal years. Such plans will be provided in subsequent budget and rate discussions with the Board. 1 It is not practical to wait the formal fiscal year end closing of the accounting records to determine if the reserves have been “used”. Therefore, it is appropriate for staff to estimate reserve levels, with the important amount being what is estimated for fiscal year end.

SILICONVALLEY

CLEAN ENERGY
FP9
Category: FINANCE
Page | 4 Amended: 89/611/20249/13/2023
Excess Reserves
If reserve funds are projected to exceed the maximum level, the CEO shall present options for consideration by the Board of Directors for proper disposition of those reserves during the next budget cycle. In computing excess reserves, the reserve balance will be reduced for earmarked funds or allocated but unspent funds.

Reserves between Minimum and Maximum
To the extent that reserves are above target and below the maximum, no other action by SVCE would be required.

Periodic Review of Reserve Goals
Reserve goals shall be periodically reviewed for consistency with industry standards. If significant risk factors are eliminated or significant new risks emerge as a result of changes in the industry, legislation, or economic conditions, the basis of the reserve policy shall be reviewed, and the funding level shall be adjusted accordingly.

Unless the Reserves are approaching minimum levels, formal Reserve funding discussions with the Board may await the next budget process.

Reporting
Reserve levels will be monitored during the fiscal year and reported in the quarterly financial reports. Reserve target levels (minimum and maximum) will be analyzed annually, and over/under reserve determination shall be made in conjunction with year-end financial results. These results will be reported to the Board of Directors as part of the year-end financial report presentation.

SILICONVALLEY

CLEAN ENERGY
Title Minimum Salary
(Annual $)
Maximum Salary
(Annual $)
Administrative Analyst $ 180,189 105,199 $
Administrative Assistant $ 111,308 70,132 $
Associate Data Analyst $ 165,215 105,199 $
Associate Data Scientist $ 180,399 125,343 $
Associate Legislative Analyst $ 142,352 87,664 $
Associate Manager of Decarbonization Programs and Policy $ 202,047 140,263 $ Associate Power Analyst $ 154,355 98,930 $
Associate Power Resources Planner $ 213,197 140,263 $
CFO & Director of Finance and Administration $ 370,338 222,084 $ Communication Specialist $ 139,242 91,655 $
Communications Manager $ 209,598 140,263 $
Community Outreach Specialist $ 124,166 75,976 $
Data Analyst $ 185,041 125,343 $
Data Engineer $ 192,863 132,326 $
Data Scientist $ 202,047 140,263 $
Deputy Board Clerk/Administrative Assistant $ 180,189 105,199 $ Deputy Director of Decarbonization Programs and Policy $ 283,479 180,397 $ Deputy Director of Marketing and Communications $ 283,479 180,397 $ Deputy Director of Power Resources $ 311,518 198,254 $
Director of Decarbonization Programs and Policy $ 293,885 187,033 $ Director of Energy Services & Community Relations $ 293,885 187,033 $ Director of Government and Legislative Affairs $ 293,885 187,033 $ Director of Human Resources $ 293,885 187,033 $
Director of Power Resources $ 318,000 212,000 $
Director of Regulatory and Legislative Policy $ 293,885 187,033 $ Director of Risk Management and Analytics $ 293,885 187,033 $ Director of Strategic Development $ 293,885 187,033 $
Energy Services Lead $ 214,131 140,263 $
Energy Services Manager $ 267,435 175,946 $
Energy Services Principal $ 238,781 157,095 $
Energy Services Specialist $ 139,243 91,655 $
Energy Trading Manager $ 256,631 173,984 $
Energy Trading Planner $ 238,781 151,952 $
Financial Analyst $ 180,189 105,199 $
General Counsel $ 293,885 187,033 $
Human Resources Analyst $ 180,189 105,199 $
Human Resources Generalist $ 202,047 128,575 $
Human Resources Manager $ 238,781 175,330 $
IT Analyst $ 202,047 128,575 $
Management Analyst/Admin $ 202,047 128,575 $
Manager of Data and Analytics $ 267,434 179,832 $
Manager of Decarbonization Programs and Policy $ 238,781 151,952 $ Manager of Finance $ 242,456 159,550 $
FY24-25 Salary Chart

Page 1 of 3 ends

Silicon Valley Clean Energy Board of DirectorsSeptember 11, 2024

Silicon Valley Clean Energy Board of Directors
September 11, 2024