Agenda packet — Silicon Valley Clean Energy Board of Directors, November 13, 2024 (part 1 of 2)

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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, November 13, 2024
7:00 pm
Cupertino Community Hall
10350 Torre Avenue
Cupertino, CA
Administrative Conference Room, Gilroy City Hall
7351 Rosanna St.

Gilroy, CA
Milpitas Police Department
Community Conference Room
1275 N. Milpitas Blvd.

Milpitas CA 95035
Teleconference Meeting
Webinar:
https://cityofcupertino.zoom.us/j/91622122828
Telephone (Audio Only):

US: +1 669-900-6833
Webinar ID: 916 2212 2828
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, the length of the agenda and the complexity of the subject matter. Speaking time will not be decreased to less than one minute.

SILICON VALLEY <3/ CLEAN ENERGY

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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
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 October 9, 2024, Board of Directors Meeting 1b) Receive September 2024 Treasurer Report
1c) Approve SVCE 2023 Annual Power Source Disclosure Report Attestation 1d) Receive FY24 Q4 Decarbonization Strategy and Programs Quarterly Report
1e) Approve a Delegation of Authority Allowing the Chief Executive Officer to Purchase Carbon-Free Nuclear Energy for 2025-2027
1f) Approve GreenPrime Product and Rate Methodology
1g) Authorize the Chief Executive Officer to Execute Agreements with Tenaska Power Services for Scheduling Coordination Services 1h) Receive Executive Committee Report
1i) Receive Audit Committee Report
1j) Receive 2024 Legislative Response to Industry Transition Ad Hoc Committee Report
1k) Receive Finance and Administration Committee Report 1l) California Community Power Report
SILICON VALLEY <3/ CLEAN ENERGY

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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) Approve SVCE’s Participation in the California Public Utilities Commission Hourly Flex Pricing Pilots (Action)
4) Adopt SVCE’s Long-term Clean Targets (Action)
5) Local Agency Action Planning (Informational)
Board Member Announcements and Direction on Future Agenda Items Adjourn

SILICON VALLEY

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

Silicon Valley Clean Energy Authority
Board of Directors Meeting
Wednesday, October 9, 2024
5:30 pm
Cupertino Community Hall
10350 Torre Avenue
Cupertino, CA
Administrative Conference Room, Gilroy City Hall
7351 Rosanna St.

Gilroy, CA
Milpitas Police Department
1275 N. Milpitas Blvd
Milpitas, CA
Draft Meeting Minutes
Call to Order:

Chair Walia called the meeting to order at 5:34 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; arrived at 6:55 p.m.) Pete Dailey, Los Altos
Rob Rennie, Los Gatos
Bryan Mekechuk, Monte Sereno
Yvonne Martinez Beltran, Morgan Hill (participated remotely; arrived at 7:45 p.m.) Larry Klein, Sunnyvale
Otto Lee, County of Santa Clara (arrived at 5:40 p.m.)

Absent:

Evelyn Chua, Milpitas
Pat Showalter, Mountain View
A quorum was present.

Public Comment on Matters Not Listed on the Agenda
No speakers.

Public Comment on Closed Session
No speakers.

Item 1a 1 Draft Minutes: 10/9/24 SVCE BOD Meeting
SILICON VALLEY \3/ CLEAN ENERGY
Closed Session
The Board of Directors convened to Closed Session at 5:35 p.m. Director Lee arrived at 5:40 p.m. during 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
Conference with Legal Counsel—Existing Litigation
(California Government Code Section 54956.9(d)(1))
Name of case: Central Coast Community Energy, a California joint powers authority; Silicon Valley Clean Energy Authority, a California joint powers authority v. Big Beau Solar, LLC, et al, Santa Clara County Superior Court Case No. 22CV398156
Conference with Legal Counsel – Anticipated Litigation
Initiation of litigation pursuant to paragraph (4) of subdivision (d) of Section 54956.9: (two potential cases) The Board of Directors returned from Closed Session at 6:46 p.m.

Report from Closed Session
Chair Walia announced that the Board met in Closed Session and there was nothing to report.

Consent Calendar
There were no questions from the Board; there were no requests from the public to speak on any matter on the Consent Calendar.
1a) Approve Minutes of the September 11, 2024, Board of Directors Meeting 1b) Receive August 2024 Treasurer Report
1c) Adopt Resolution Supporting Proposition 4 on the November 5, 2024 California State Ballot 1d) Approve an Allocation of Program Fund Dollars of $6 million to Expand Three Decarbonization Programs and Initiatives
1e) Approve an Allocation of $20,000 from the Operating Budget for the Annual SVCE 2025 Youth Scholarship Competition
1f) California Community Power Report
1g) Additional Committee Reports
MOTION: Director Mekechuk moved and Director Lee seconded the motion to approve the Consent Calendar, Items 1a through 1g.

The motion carried by verbal roll call vote with Directors Chua, Hilton, Martinez Beltran, and Showalter absent.

Regular Calendar
2) CEO Report (Informational)
CEO Padilla reported the following:

Item 1a 2 Draft Minutes: 10/9/24 SVCE BOD Meeting
a) Introduction of Santosh Muralidaran, Climate Corp Fellow, and Nalini Pillay, Deputy Board Clerk/Administrative Assistant, who both provided brief welcome comments; and b) An update on the SVCE organization realignment.

Chair Walia opened Public Comment.

No speakers
Chair Walia closed Public Comment.
3) Approve an Allocation of $100,000 from the Operating Budget for the Proposed 2024-2025 Expanded Education Fund (Action)
Director Hilton remotely joined the meeting at 6:55 p.m. during Item 3.

Juliette Pascual, Community Outreach Specialist, provided information relating to the $100,000 funding request for Silicon Valley Clean Energy (SVCE) Expanded Education Fund initiatives, which included:
• Increasing engagement with California community colleges to expand opportunities in climate and clean energy education;
• Enhancing education-based nonprofit organizations to support early workforce education, curriculum and educator training, and community workshops; and • Prioritization of proposals received from underrepresented students and communities.

Staff responded to questions from board members regarding the number of students served through the program, hands-on student/parent workshops, and eligibility requirements for student participation.

Chair Walia opened Public Comment.

No speakers.

Chair Walia closed Public Comment.

Motion: Director Mekechuk moved and Director Scozzola seconded the motion to approve the Allocation of $100,000 from the Operating Budget for the Proposed 2024-2025 Expanded Education Fund.

The motion carried by verbal roll call vote with Directors Chua, Martinez Beltran, and Showalter absent.
4) Authorize the Chief Executive Officer to Execute a 10-year Power Purchase Agreement with VCI Energy for Glossy Garlic Solar + Storage (Action) Director Lee announced the need to recuse himself on Item 4 and exited the council chambers.

Britta Bradshaw, Power Resource Manager, provided information relating to the request to execute the 10-year Power Purchase Agreement with VCI Energy for Glossy Garlic Solar + Storage to meet SVCE goals, as follows:
• Contributes 4 percent of RPS-eligible energy on an annual basis; • Helps meet clean energy goals, SB 100, SB 350, and SB 1020; • Reduces GHG emissions;
• Provides Resource Adequacy capacity; and
• Provides net positive portfolio value.

Staff responded to questions from board members regarding VCI Energy technology, contract tenure and project timeline.

Item 1a 3 Draft Minutes: 10/9/24 SVCE BOD Meeting
Chair Walia opened Public Comment.

No speakers.

Chair Walia closed Public Comment.

MOTION: Vice Chair Tyson moved and Director Mekechuk seconded the motion to Authorize the Chief Executive Officer to Execute a 10-year Power Purchase Agreement with VCI Energy for Glossy Garlic Solar + Storage as follows:
• 50 MW or approximately 192,000 MWh per year of Renewable Portfolio Standard (RPS) Portfolio Category Content One (“PCC1”) eligible resources from solar PV; • 50 MW, 4-hour or 200 MWh lithium-ion battery energy storage system which is capable of charging from the CAISO grid;
• 10-Year term PPA with expected commercial operation date (COD) and term from February 28, 2029, through February 27, 2039; and,
• Total amount not-to-exceed $138,000,000.

The motion carried by verbal call vote with Directors Chua, Martinez Beltran, and Showalter absent, and recusal by Director Lee.

Director Lee returned to the council chambers following the vote on Item 4. 5) 2023 Community-Wide Greenhouse Gas Emissions Update (Discussion) Justin Zagunis, Director of Decarbonization Programs and Policy, provided information relating to Greenhouse Gas (GHG) reduction targets, decreasing emissions rates since 2015 baseline year, and SVCE’s goal to meet the targeted 40 percent emissions reduction by 2025.

Director Martinez Beltran remotely joined the meeting from a Morgan Hill location at 7:45 p.m.

Staff responded to questions from the Board of Directors regarding transportation emissions reduction goals for the Bay Area, a methodology update in calculating off-road emissions, data center electricity usage and rates.

Chair Walia opened Public Comment.

Bruce Karney made the following comments: 1) Cultura, a non-profit company, is focused on equitability for long-range EV commuters, 2) Mr. Karney recommended that cities consider initiatives that create healthy competition to increase EV usage.

Chair Walia closed Public Comment.

Board Member Announcements and Future Agenda Items
Director Mekechuk provided CEO Padilla with memorabilia from the Oakland A’s final game.

Chair Walia expressed gratitude to SVCE for staffing a tabling event in Saratoga.

Director Lee provided information relating to the “Day on the Bay” event scheduled for October 13, 2024 at the Alviso Marina Park.

Adjourn
Chair Walia adjourned the meeting at 8:11 p.m.

ATTEST:

Item 1a 4 Draft Minutes: 10/9/24 SVCE BOD Meeting
______________________________
Andrea Pizano, Board Secretary
Item 1a 5 Draft Minutes: 10/9/24 SVCE BOD Meeting
1 TREASURER REPORT
Fiscal Year to Date
As of September 30, 2024
(Preliminary & Unaudited)
Issue Date: November 13, 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 1b September 2024 Treasurer Report
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Balance Sheet Highlights:
> SVCE operations resulted in a change in net position of $5 million for the month of September and $164.2 million for fiscal-year-to-date (FYTD).* > Total Net Position increased further to $488.7 million. > SVCE is investing ~96.6% of available funds generating FYTD interest/dividend income of over $23.3 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* 443.3 M
Total Interest/Div. Earned FYTD 23.3 M
Average Return On Investments** 5.05%
* 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)
September 30, 2024
330.2 M
488.7 M
0 M
90 M
180 M
270 M
360 M
450 M
540 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
273 289 293 307 323 337 342 357 369 386 392
141
171 188 193 208 224 239 244 260 275 292 299
0 100
200
300
400
500
Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept
Days Cash on Hand (DCOH)
DCOH Including Unspent Earmarked Funds* DCOH Excluding Unspent Earmarked Funds* Maximum Reserves Target Reserves
Minimum Reserves
$23.3 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
$ 2,355.4 K
$ 2,700.5 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 * Earmarked funds are unspent SVCE program and the building funds.

Item 1b September 2024 Treasurer Report
mini
3

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Summary of Actual Results vs. Adjusted Budget (includes allocated but unspent program dollars):
> FYTD operating margin of $176.1 million (or 32.9%) is 5.9% below the Mid-Year budget expectations of $187.2 million (or 33.9%) operating margin for the fiscal year to date. > FYTD Power Supply costs are -2% below Mid-Year budget. > Retail GWh sales for September and FY2024 were -8% and -1.3% below the Mid-Year budget estimation respectively.

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

Revenue 45.8 M 55.3 M -17.3% 534.5 M 552.9 M -3.3%
Power Supply Cost 40.2 M 41.1 M -2.2% 358.4 M 365.6 M -2.0% Operating Margin 5.6 M 14.2 M -60.8% 176.1 M 187.2 M -5.9% Operating Expenses (ex Power) 2.3 M 2.8 M -17.2% 26.2 M 32.1 M -18.6% Other Non-Op. Expen. (Income) -2.7 M -1.1 M 152.9% 29.6 M 42.5 M -30.4% Net Increase in Available Fund
Balance 6.0 M 12.5 M -52.2% 120.3 M 112.6 M 6.9%
Customer Load Statistics:

Total Accounts 281,583
Opt-Out Accounts (Month) 43
Opt-Out Accounts (FYTD) 662
Opt-Up Accounts (Month) (12)
Opt-Up Accounts (FYTD) (529)
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. $ 56,617,120 $ 79,996,699 $ 31,062,000 $ 7,682,421
$ 5,483,032 $ 6,088,807 $ 4,300,000 $ 3,694,225
$ - $ 20,000,000 $ 20,000,000 $ -
$ 9,446,460 $ 9,279,282 $ - $ 167,178

SILICON VALLEY CLEAN ENERGY AUTHORITY
Financial Statement Highlights** ($ in millions)
September 30, 2024
September Fiscal YTD
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 - August - higher investment income combined with lower power supply cost and recurrent savings from other operating expenditures.

September - revenues were below SVCE's mid-year budget
forecast, due to weaker customer demand.
Lower September and YTD customer demand
Beginning Balance End Balance YTD Contributions YTD Expenditures Lower YTD costs is mostly due to gradual decline in energy prices. Staffing vacancies, underrunning professional services, and lower marketing expenses Reflects higher Interest Income
Reflects budgetary transfers to program and other funds 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
3,215 K-6,519 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 Aug Sept
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
253,363
254,113
27,474
27,464
27,450
27,426
27,404
27,471
27,466
27,447
27,423
27,421
27,458
27,470

94.0%

94.5%

95.0%

95.5%

96.0%

96.5%

97.0%
-
50,000
100,000
150,000
200,000
250,000
300,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
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

91.0%
Personnel

3.2%
Contract
Services

3.5%
G & A

2.1%
Depreciation

0.2%
YTD Operating Expenses
Item 1b September 2024 Treasurer Report 1 1 1 1 FF
4 Current Assets
Cash & Cash Equivalents $ 261,473,872
Accounts Receivable, net of allowance 43,061,445
Investments 68,460,281
Accrued Revenue 29,579,485
Other Receivables 16,224,969
Prepaid Expenses 843,135
Deposits 709,798
Restricted cash -
Total Current Assets 420,352,985
Noncurrent assets
Capital assets, net of depreciation 761,171
Investments 150,007,868
Deposits 45,130
Total Noncurrent Assets 150,814,169
Total Assets 571,167,154
Current Liabilities
Accounts Payable 1,770,064
Accrued Cost of Electricity 61,271,357
Other accrued liabilities 1,670,289
User Taxes and Energy Surcharges due to other gov'ts 1,679,325 Supplier security deposits 375,000
Lease liability 402,740
Total Current Liabilities 67,168,775
Noncurrent Liabilities
Supplier security deposits 15,303,125
Total noncurrent liabilities 15,303,125
Total Liabilities 82,471,900
Net investment in capital assets 358,431
Restricted for security collateral -
Unrestricted (deficit) 488,336,823
Total Net Position $ 488,695,254

NET POSITION

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF NET POSITION
As of September 30, 2024
ASSETS

LIABILITIES
Item 1b September 2024 Treasurer Report
5 OPERATING REVENUES
Electricity Sales, Net $ 530,672,320
GreenPrime electricity premium 2,498,428
Liquidated damages 1,291,500
Other income 27,540
TOTAL OPERATING REVENUES 534,489,788

OPERATING EXPENSES
Cost of Electricity 358,379,890
Contract services 13,909,817
Staff compensation and benefits 12,525,042
Other operating expenses 8,210,171
Depreciation 639,272
TOTAL OPERATING EXPENSES 393,664,192
OPERATING INCOME(LOSS) 140,825,596

NONOPERATING REVENUES (EXPENSES)
Interest Income 23,348,067
Financing costs (14,224)
TOTAL NONOPERATING REVENUES (EXPENSES) 23,333,843
CHANGE IN NET POSITION 164,159,439
Net Position at beginning of period 324,535,815
Net Position at end of period $ 488,695,254

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF REVENUES, EXPENSES
October 1, 2023 through September 30, 2024

AND CHANGES IN NET POSITION
Item 1b September 2024 Treasurer Report
6 CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers $ 549,801,243
Receipts of liquidated damages $ 1,216,500
Receipts of security deposits 34,632,586
Other operating receipts 15,290
Payments to suppliers for electricity (386,298,738)
Payments of security deposits (18,875,780)
Payments for other goods and services (22,709,203)
Payments for staff compensation and benefits (12,352,506) Tax and surcharge payments to other governments (8,997,384) Net cash provided (used) by operating activities 136,432,008

CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES
Finance costs paid (14,224)
Net cash provided (used) by financing activities (14,224)

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Payments of lease liability (522,705)
Acquisition of capital assets (151,584)
Net cash provided (used) by capital and related
financing activities (674,289)

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investments (181,555,415)
Proceeds from investment sales 54,494,824
Investment income received 22,096,463
Net cash provided (used) by investing activities (104,964,128) Net change in cash and cash equivalents 30,779,367
Cash and cash equivalents at beginning of year 230,694,505 Cash and cash equivalents at end of period $ 261,473,872 Reconciliation to the Statement of Net Position
Cash and cash equivalents (unrestricted) $ 261,473,872
Restricted cash $ -
Cash and cash equivalents $ 261,473,872

NONCASH INVESTING ACTIVITIES
Unrealized appreciation (depreciation) and timing differences in investment income$ 1,251,604

STATEMENT OF CASH FLOWS
October 1, 2023 through September 30, 2024
Item 1b September 2024 Treasurer Report
7 Operating Income (loss) $ 140,825,596
Adjustments to reconcile operating income to net cash
provided (used) by operating activities
Depreciation expense 639,272
(Increase) decrease in accounts receivable 6,827,948
(Increase) decrease in other receivables (10,833,628)
(Increase) decrease in accrued revenue 852,637
(Increase) decrease in prepaid expenses 510,042
(Increase) decrease in current deposits 24,892,681
Increase (decrease) in accounts payable (1,077,174)
Increase (decrease) in accrued cost of electricity (17,333,175) Increase (decrease) in accrued liabilities 398,409
Increase (decrease) in taxes and surcharges due to other governments (47,475) Increase (decrease) in supplier security deposits (9,223,125) Net cash provided (used) by operating activities $ 136,432,008

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET

CASH PROVIDED (USED) BY OPERATING ACTIVITIES

SILICON VALLEY CLEAN ENERGY AUTHORITY
STATEMENT OF CASH FLOWS (Continued)
October 1, 2023 through September 30, 2024
Item 1b September 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 $530,672,320 $550,852,000 -$20,179,680 -4% $550,852,000 $20,179,680 Green Prime Premium 2,498,428 1,962,000 $536,428 27% 1,962,000 (536,428) Other Income 1,319,040 50,000 1,269,040 2538% 50,000 (1,269,040) TOTAL OPERATING REVENUES 534,489,788 552,864,000 (18,374,212) -3.3% 552,864,000 18,374,212

ENERGY EXPENSES
Power Supply 358,379,890 365,617,000 (7,237,110) -2.0% 365,617,000 7,237,110 Operating Margin 176,109,898 187,247,000 (11,137,102) -6% 187,247,000 11,137,102

OPERATING EXPENSES
Data Management 3,176,623 3,413,000 (236,377) -7% 3,413,000 236,377 PG&E Fees 1,195,410 1,470,000 (274,590) -19% 1,470,000 274,590 Salaries & Benefits 12,525,042 14,818,000 (2,292,958) -15% 14,818,000 2,292,958 Professional Services 4,969,162 8,210,000 (3,240,838) -39% 8,210,000 3,240,838 Marketing & Promotions 855,696 1,250,000 (394,304) -32% 1,250,000 394,304 Notifications 196,898 315,000 (118,102) -37% 315,000 118,102 Lease 528,633 551,000 (22,367) -4% 551,000 22,367
General & Administrative 2,710,884 2,091,000 619,884 30% 2,091,000 (619,884) TOTAL OPERATING EXPENSES 26,158,348 32,118,000 (5,959,652) -19% 32,118,000 5,959,652 OPERATING INCOME/(LOSS) 149,951,550 155,129,000 (5,177,450) -3% 155,129,000 5,177,450

NON-OPERATING REVENUES
Investment Income 23,348,067 12,867,000 10,481,067 81% 12,867,000 (10,481,067) TOTAL NON-OPERATING REVENUES 23,348,067 12,867,000 10,481,067 81% 12,867,000 (10,481,067)

NON-OPERATING EXPENSES
Financing 1,816 3,000 (1,184) -39% 3,000 1,184

CAPITAL EXPENDITURES, TRANSFERS,
& OTHER
Capital Outlay 141,078 50,000 91,078 182% 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 55,412,000 (2,445,175) -4% 55,412,000 2,445,175

NET INCREASE(DECREASE) IN AVAILABLE
FUND BALANCE $120,330,976 $112,581,000 $7,749,976 7% $112,581,000 Variance

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGETARY COMPARISON SCHEDULE
October 1, 2023 through September 30, 2024
Item 1b September 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 7,682,421 19,417,573 28.3% Net increase (decrease) in fund balance $ 3,962,006 $23,379,579 Fund balance at beginning of period 56,617,120
Fund balance at end of period $79,996,699

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 1,325,150 2,209,932 37.5% Total Program expenditures 7,835,082 3,694,225 4,140,857 Net increase (decrease) in fund balance $ (3,535,082) 605,775 Fund balance at beginning of period 5,483,032
Fund balance at end of period $6,088,807

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGETARY COMPARISON SCHEDULE
October 1, 2023 through September 30, 2024

CUSTOMER RELIEF & COMMUNITY RESILIENCY FUND

GENERAL PROGRAM FUND
BUDGETARY COMPARISON SCHEDULE*
October 1, 2023 through September 30, 2024
Item 1b September 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 September 30, 2024

ELECTRIFICATION DISCOUNT FUND

BUDGETARY COMPARISON SCHEDULE
October 1, 2023 through September 30, 2024
Item 1b September 2024 Treasurer Report
11 Net Increase (decrease) in available fund balance
per budgetary comparison schedule $ 120,330,976
Adjustments needed to reconcile to the changes
in net position in the Statement of Revenues,
Expenses and Changes in Net Position
Subtract depreciation expense (639,272)
Subract program expense not in operating budget (9,007,571) Add back GASB 87 expenses not in operating budget 508,481 Add back transfer to Program fund 52,825,747
Add back capital asset acquisition 141,078
Change in Net Position 164,159,439

BUDGET RECONCILIATION TO STATEMENT OF

REVENUES, EXPENSES AND CHANGES IN NET POSITION
October 1, 2023 through September 30, 2024

OPERATING FUND
Item 1b September 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 $ 58,494,451 $ 45,558,374 $ 530,672,320 Green electricity premium 136,391 $ 117,438 $ 130,927 $ 144,552 $ 123,168 $ 345,167 $ 260,986 $ 282,540 $ 233,689 $ 313,223 $ 217,363 $ 192,984 2,498,428 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 $ - $ - $ 1,250 27,540 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 58,711,814 45,752,608 534,489,788

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 $ 39,821,264 $ 40,178,969 358,379,890 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 $ 1,093,689 $ 1,126,834 12,525,042 Data manager 253,895 $ 253,378 $ 253,607 $ 266,090 $ 266,560 $ 267,462 $ 267,463 $ 268,287 $ 268,955 $ 270,282 $ 270,644 $ 270,000 3,176,623 Service fees - PG&E 98,425 $ 98,101 $ 104,757 $ 98,337 $ 98,296 $ 98,780 $ 98,791 $ 102,388 $ 98,000 $ 99,343 $ 100,733 $ 99,459 1,195,410 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 $ 856,027 $ 911,500 9,537,784 Other operating expenses 420,848 $ 324,106 $ 862,366 $ 1,239,599 $ 611,097 $ 817,661 $ 646,109 $ 605,490 $ 699,548 $ 660,045 $ 511,840 $ 811,462 8,210,171 Depreciation 49,996 $ 56,455 $ 54,023 $ 52,427 $ 52,426 $ 52,839 $ 53,377 $ 53,377 $ 53,377 $ 53,712 $ 53,705 $ 53,558 639,272 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 42,707,902 43,451,782 393,664,192 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 16,003,912 2,300,826 140,825,596

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 $ 2,355,366 $ 2,700,456 23,348,067 Financing costs (6,183) $ (10,369) $ (8,950) $ (9,232) $ (9,082) $ (8,625) $ (9,051) $ (8,763) $ 56,777 $ (930) $ 962 $ (778) (14,224) 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 2,356,328 2,699,678 23,333,843 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 $ 18,360,240 $ 5,000,504 $ 164,159,439

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN NET POSITION
October 1, 2023 through September 30, 2024
Item 1b September 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 $ 34,097,538 $ 30,525,069 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 $ 219,928,018 $ 231,859,347 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 $ 218,415,973 $ 220,132,695 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 $ 472,441,529 $ 482,517,110 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% 4.53% 4.57% 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% 5.41% 5.29% 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% 4.89% 4.86% Average Return On Investments: 5.37% 5.33% 5.27% 5.37% 5.34% 5.32% 5.32% 5.27% 5.23% 5.25% 5.11% 5.05% 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 $ 18,458 $ 18,108 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 $ 988,500 $ 931,329 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 $ 962,976 $ 1,716,722 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 $ 1,969,934 $ 2,666,158 * Includes change in current market value, unsettled trades and accrued interest CAMP Portfolio Statistics
As of September 30, 2024
Beginning of the Month Market Value $ 219,928,018
Ending of The Month Market Value $ 231,859,347
Yield at Market 5.29% Weighted Average Maturity (days) 37 PFM Portfolio Statistics
As of September 30, 2024
Portfolio Par Value $ 217,886,909
Portfolio Market Value (icl. Accrued Interest) $ 220,132,695 Yield at Cost 4.86%
Yield at Market 4.13%
Benchmark Yield* 3.88%
Portfolio Effective Duration (years) 1.32 Weighted Average Maturity (days) 629 *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 September 30, 2024

11.99%

19.36%

28.88%

31.02%

5.27%

3.48%

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
39%
Commercial
Paper
17%
CAMP Pool
0%
Federal Agency
Commercial
5%
Supra-National Agency
0%
Corp. & Bank Notes
20%
Certificate of Deposit
4%
Asset-Backed
Security
15%
SVCE PFM Portfolio Investments
Repurchase
Agreements,

32.6%
Certificates of
Deposit, 28.8%
Commercial
Paper, 31.6% US Agencies ,

1.1%
Money Market
Funds, 3.2%
SupraNational
Debt, 1.0%
Corporate
Notes, 1.7%
Camp Pool Composition (based on market value)
Item 1b September 2024 Treasurer Report
14 October November December January February March April May June July August September YTD Retail Sales Actual (GWh) 312.6 302.5 327.8 334.1 310.1 317.0 300.6 309.8 321.5 365.8 343.9 324.9 3,871 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 3,921 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% -9.2% -8.0% -1.3% Customer Participation Rate Res 96.3% 96.3% 96.2% 96.2% 96.2% 96.2% 96.1% 96.1% 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% 96.5% 96.5% Total Accounts 278,236 278,201 278,312 278,523 278,724 279,225 279,315 279,583 279,885 280,526 280,821 281,583 281,583 Opt-Out Accounts 56 29 51 73 102 49 73 26 40 55 65 43 662 Opt-Up Accounts -18 -6 -5 -25 -11 -8 -27 -2 -98 -291 -26 -12 -529

0.08 30.79
SVCE Arrearager Total for customers 31+ days late and 120+ days late Age Summary (as of 10/1/2024) Date Amount
<30 days $40,586,934 High 11/29/2021 $7.99M
<60 days $1,394,133 Low 4/17/2020 $2.54M
<90 days $731,060 Current 7/31/2023 $6.1 M
<120 days $505,793
Older $3,421,942
September 2024 FYTD
Bad Debt % (Actual)

0.29%

TOTAL DUE
Bad Debt % (Budget )

0.75%
Accounts Receivable Days
31 Days
$46,639,862

SILICON VALLEY CLEAN ENERGY AUTHORITY

RETAIL SALES, CUSTOMER ACCOUNTS AND AGING REPORT
• 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 $1,539,437 % 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 $128,286 $-
$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
$1,800,000
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 1b September 2024 Treasurer Report
15 Item 1b September 2024 Treasurer Report
Silicon Valley Clean Energy September 30, 2024
Certificate of Compliance
During the reporting period for the month ended September 30, 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 1b September 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending September 30, 2024 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
BUY
09/03/24 09/05/24 MASTERCARD INC (CALLABLE)
DTD 09/05/2024 4.100% 01/15/2028
57636OBA1 370.000.00 (369.796.50) 0.00 (369.796.50)
09/03/24 09/06/24 JOHN DEERE CAPITAL CORP
DTD 09/06/2024 4.200% 07/15/2027
24422EXV6 585.000.00 (584,918.10) 0.00 (584.918.10)
09/04/24 09/05/24 DCENT 2023-Al A
DTD 04/11/2023 4.310% 03/15/2028
254683CY9 1,300.000.00 (1,298.171.88) (3.112.78) (1.301.284.66) 09/05/24 09/10/24 US TREASURY N/B
DTD 08/15/2024 3.750% 08/15/2027
91282CLG4 2.000.000.00 (2.008,046.88) (5,298.91) (2.013,345.79) 09/09/24 09/16/24 NATIONAL RURAL UTIL COOP
(CALLABLE)
DTD 09/16/2024 4.120% 09/16/2027
63743HFT4 470.000.00 (470,000.00) 0.00 (470,000.00)
09/11/24 09/12/24 NATIONAL AUSTRALIA BK/NY
DTD 06/11/2024 5.087% 06/11/2027
63253OAJ3 2.000.000.00 (2.060,000.00) (25.717.61) (2,085,717.61) 09/11/24 09/12/24 AMERICAN HONDA FINANCE
DTD 07/10/2024 4.900% 07/09/2027
02665WFK2 800.000.00 (818.088.00) (6.751.11) (824.839.11) 09/11/24 09/12/24 AMERICAN EXPRESS CO (CALLABLE)
DTD 03/04/2022 2.550% 03/04/2027
025816CS6 1.500.000.00 (1.447,005.00) (850.00) (1.447,855.00) 09/13/24 09/24/24 CHAOT 2024-5A A2
DTD 09/24/2024 4.400% 11/26/2027
16144QAB1 300,000.00 (299,973.36) 0.00 (299,973.36)
09/17/24 09/20/24 FORDO 2024-C A2A
DTD 09/20/2024 4.320% 08/15/2027
34532UAB5 645,000.00 (644,974.14) 0.00 (644,974.14)
09/17/24 09/24/24 COMET 2024-Al A
DTD 09/24/2024 3.920% 09/17/2029
14041NGE5 1.450,000.00 (1,449,716.96) 0.00 (1.449,716.96) 09/23/24 09/30/24 AUST & NZ BANKING GRP NY
DTD 09/30/2024 3.919% 09/30/2027
05253JB42 435.000.00 (435.000.00) 0.00 (435,000.00)
09/24/24 09/27/24 ALLYA 2024-2 A3
DTD 09/27/2024 4.140% 07/16/2029
02007NAC2 660.000.00 (659,931.76) 0.00 (659,931.76)
Transaction Type Sub-Total 12,515,000.00 (12,545,622.58) (41,730.41) (12,587,352.99)

INTEREST
09/01/24 09/25/24 FNA 2015-M11 A2
DTD 07/01/2015 2.944% 04/01/2025
3136APSZ6 0.00 1,584.17 1,584.17
09/01/24 09/25/24 FHMS K736 A2
DTD 09/01/2019 2.282% 07/01/2026
3137FNWX4 0.00 1.426.25 1.426.25
PFM Asset Management LLC Account 4025-002 Paqe 35
17 Item 1b September 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending Septeinlier 30, 2024 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
09/01/24 09/25/24 FHMS K068 A2
DTD 10/01/2017 3.244% 08/01/2027
3137FBBX3 0.00 2.297.83 2,297.83
09/01/24 09/25/24 FHMS K737 A2
DTD 01/01/2020 2.525% 10/01/2026
3137FOXJ7 0.00 2.209.37 2,209.37
09/01/24 09/25/24 FHMS K058 Al
DTD 11/01/2016 2.340% 07/01/2026
3137BSP64 0.00 755.58 755.58
09/01/24 09/25/24 FHMS K059 A2
DTD 11/01/2016 3.120% 09/01/2026
3137BSRE5 0.00 1.820.00 1,820.00
09/01/24 09/25/24 FHMS K063 A2
DTD 03/01/2017 3.430% 01/01/2027
3137BVZ82 0.00 6.359.79 6.359.79
09/01/24 09/25/24 FHMS K054 A2
DTD 04/01/2016 2.745% 01/01/2026
3137BNGT5 0.00 2,516.25 2,516.25
09/01/24 09/25/24 FHMS K057 A2
DTD 09/01/2016 2.570% 07/01/2026
3137BROJ7 0.00 2.516.46 2,516.46
09/01/24 09/25/24 FHMS K733 A2
DTD 11/01/2018 3.750% 08/01/2025
3137FJXQ7 0.00 1,670.37 1,670.37
09/01/24 09/25/24 FHMS K065 Al
DTD 07/01/2017 2.864% 10/01/2026
3137F1G36 0.00 1.455.07 1,455.07
09/01/24 09/25/24 FHMS K069 A2
DTD 11/01/2017 3.187% 09/01/2027
3137FBU79 0.00 1.988.03 1.988.03
09/08/24 09/08/24 JOHN DEERE CAPITAL CORP
DTD 09/08/2023 5.300% 09/08/2025
24422EXC8 0.00 11,262.50 11,262.50
09/11/24 09/11/24 TOYOTA MOTOR CREDIT CORP
DTD 09/11/2023 5.600% 09/11/2025
89236TKZ7 0.00 15.400.00 15,400.00
09/12/24 09/12/24 COMMONWEALTH BK AUSTR NY
DTD 09/12/2023 5.499% 09/12/2025
20271RAS9 0.00 21,996.00 21.996.00
09/12/24 09/12/24 AMERICAN HONDA FINANCE
DTD 03/13/2024 4.900% 03/12/2027
02665WFD8 0.00 7,430.99 7,430.99
09/15/24 09/15/24 KCOT 2024-1A A2
DTD 02/21/2024 5.390% 01/15/2027
50117BAB6 0.00 3.728.08 3,728.08
09/15/24 09/15/24 US TREASURY N/B
DTD 03/15/2023 4.625% 03/15/2026
91282CGR6 0.00 34.687.50 34.687.50
09/15/24 09/15/24 TAOT 2024-A A3
DTD 01/30/2024 4.830% 10/16/2028
89238DAD0 0.00 1,348.38 1.348.38
PFM Asset Management LLC Account 4025-002 Page 36
18 Item 1b September 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending September 30, 2024 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
09/15/24 09/15/24 WFCIT 2024-Al A 92970OAA3 0.00 3,807.92 3,807.92 DTD 03/01/2024 4.940% 02/15/2029
09/15/24 09/15/24 HAROT 2024-1 A2
DTD 02/21/2024 5.360% 09/15/2026
437918AB1 0.00 4,913.33 4.913.33
09/15/24 09/15/24 BACCT 2024-Al A
DTD 06/13/2024 4.930% 05/15/2029
05522RDJ4 0.00 4,231.58 4,231.58
09/15/24 09/15/24 FORDO 2024-A A2A
DTD 03/19/2024 5.320% 01/15/2027
34535EAB8 0.00 1,817.67 1,817.67
09/15/24 09/15/24 WOART 2023-D A2A
DTD 11/08/2023 5.910% 02/16/2027
98164DAB3 0.00 1,311.49 1,311.49
09/15/24 09/15/24 USAOT 2024-A A2
DTD 07/30/2024 5.250% 03/15/2027
90327VAB4 0.00 4.987.50 4.987.50
09/15/24 09/15/24 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 0.00 3,595.63 3,595.63
09/15/24 09/15/24 WOART 2024-B A2A 98164HAB4 0.00 1,940.83 1,940.83 DTD 05/22/2024 5.480% 09/15/2027
09/15/24 09/15/24 BAAT 2024-1A A3
DTD 05/22/2024 5.350% 11/15/2028
09709AAC6 0.00 557.29 557.29
09/15/24 09/15/24 HART 2022-C A3
DTD 11/09/2022 5.390% 06/15/2027
44933DAD3 0.00 2,470.42 2.470.42
09/15/24 09/15/24 KCOT 2024-2A A2
DTD 06/25/2024 5.450% 04/15/2027
50117DAB2 0.00 1,362.50 1,362.50
09/15/24 09/15/24 NAROT 2024-A A2A
DTD 05/22/2024 5.470% 12/15/2026
65479UAB4 0.00 3,008.50 3.008.50
09/15/24 09/15/24 TAOT 2024-C A2A
DTD 07/30/2024 5.160% 05/17/2027
89237OAB6 0.00 1,440.50 1.440.50
09/15/24 09/15/24 FORDO 2024-B A2A
DTD 06/24/2024 5.400% 04/15/2027
34531OAB5 0.00 7,425.00 7,425.00
09/15/24 09/15/24 CHAIT 2023-Al A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 0.00 3,461.50 3,461.50
09/15/24 09/15/24 WOART 2024-A A2A
DTD 02/14/2024 5.050% 04/15/2027
98164RAB2 0.00 1,434.93 1.434.93
09/15/24 09/15/24 CARMX 2022-2 A3
DTD 04/28/2022 3.490% 02/16/2027
14317HAC5 0.00 1,242.07 1.242.07
PFM Asset Management LLC Account 4025-002 Page 37
19 Item 1b September 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending Septeinlier 30, 2024 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
09/15/24 09/15/24 NAROT 2023-B A2A
DTD 10/25/2023 5.950% 05/15/2026
654S0MAB9 0.00 3,773.37 3,773.37
09/15/24 09/15/24 ALLYA 2024-1 A3
DTD 03/13/2024 5.080% 12/15/2028
02008FAC8 0.00 1.629.83 1.629.83
09/15/24 09/15/24 DCENT 2023-Al A
DTD 04/11/2023 4.310% 03/15/2028
254683CY9 0.00 4,669.17 4,669.17
09/15/24 09/15/24 ALLYA 2023-1 A3
DTD 07/19/2023 5.460% 05/15/2028
02007WAC2 0.00 2.275.00 2.275.00
09/15/24 09/15/24 HDMOT 2023-B A3
DTD 09/27/2023 5.690% 08/15/2028
41285YAC9 0.00 4,433.46 4,433.46
09/15/24 09/15/24 TAOT 2024-B A2A
DTD 04/30/2024 5.410% 03/15/2027
89237NAB3 0.00 2.772.63 2.772.63
09/15/24 09/15/24 WOART 2024< A2A
DTD 08/20/2024 4.780% 01/18/2028
98164NAB1 0.00 3.419.03 3.419.03
09/15/24 09/15/24 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 0.00 1.473.25 1.473.25
09/15/24 09/15/24 COPAR 2023-2 A2A
DTD 10/11/2023 5.910% 10/15/2026
14044EAB4 0.00 3.621.36 3.621.36
09/15/24 09/15/24 MBART 2023-2 A2
DTD 10/25/2023 5.920% 11/16/2026
58769FAB1 0.00 1,083.31 1,083.31
09/15/24 09/15/24 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 0.00 4,018.00 4,018.00
09/15/24 09/15/24 CHAIT 2024-Al A
DTD 01/31/2024 4.600% 01/16/2029
161571HV9 0.00 2,664.17 2,664.17
09/15/24 09/15/24 HART 2024-B A2A
DTD 07/24/2024 5.150% 06/15/2027
44934OAB7 0.00 2.403.33 2.403.33
09/15/24 09/15/24 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 0.00 1,108.00 1,108.00
09/15/24 09/15/24 FORDO 2023-C A3
DTD 11/21/2023 5.530% 09/15/2028
344940AD3 0.00 1.566.83 1.566.83
09/15/24 09/15/24 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
02582JKH2 0.00 3,116.21 3,116.21
09/15/24 09/15/24 US TREASURY N/B
DTD 03/15/2024 4.250% 03/15/2027
91282CKE0 0.00 106.250.00 106.250.00
PFM Asset Management LLC Account 4025-002 Page 38
20 Item 1b September 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending September 30, 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 07/30/2024 5.250% 09/27/2027
09/15/24 09/15/24 HART 2023-C A2A
DTD 11/13/2023 5.800% 01/15/2027
4491SCABS 0.00 2,420.85 2,420.85
09/15/24 09/15/24 US TREASURY N/B
DTD 09/15/2023 4.625% 09/15/2026
91282CHY0 0.00 69,375.00 69,375.00
09/16/24 09/16/24 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
36268GAD7 0.00 444.58 444.58
09/16/24 09/16/24 GMCAR 2024-2 A2A
DTD 04/10/2024 5.330% 03/16/2027
379931AB4 0.00 1,177.04 1,177.04
09/16/24 09/16/24 GMCAR 2023-4 A3
DTD 10/11/2023 5.780% 08/16/2028
379930AD2 0.00 2,263.83 2,263.83
09/16/24 09/16/24 GMCAR 2024-3 A2A
DTD 07/10/2024 5.350% 06/16/2027
38013KAB6 0.00 3,165.42 3,165.42
09/18/24 09/18/24 NATIXIS NY BRANCH
DTD 09/20/2023 5.610% 09/18/2026
63873OP65 0.00 46,796.75 46,796.75
09/18/24 09/18/24 AUST & NZ BANKING GRP NY
DTD 03/18/2024 5.000% 03/18/2026
05253JB26 0.00 21,500.00 21,500.00
09/18/24 09/18/24 STATE STREET CORP (CALLABLE)
DTD 03/18/2024 4.993% 03/18/2027
857477CL5 0.00 12,732.15 12,732.15
09/20/24 09/20/24 VALET 2023-2 A2A
DTD 11/21/2023 5.720% 03/22/2027
92S67YAB0 0.00 1,970.55 1,970.55
09/21/24 09/21/24 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
438123AC5 0.00 921.38 921.38
09/21/24 09/21/24 HAROT 2024-3 A2
DTD 08/21/2024 4.890% 02/22/2027
43813YAB8 0.00 3,517.37 3,517.37
09/22/24 09/22/24 PFAST 2023-2A A2A
DTD 11/10/2023 5.880% 11/23/2026
732916AB7 0.00 2,680.44 2,680.44
09/25/24 09/25/24 CHAOT 2024-1A A2
DTD 03/27/2024 5.480% 04/26/2027
16144BAB4 0.00 856.65 856.65
09/25/24 09/25/24 CHAOT 2024-3A A2
DTD 06/27/2024 5.530% 09/27/2027
16144LAB2 0.00 3,732.75 3,732.75
09/25/24 09/25/24 CHAOT 2024-2A A2
DTD 04/25/2024 5.660% 05/26/2027
16144CAB2 0.00 3,350.07 3,350.07
09/25/24 09/25/24 CHAOT 2024-4A A2 16144YAB4 0.00 2,275.00 2,275.00 PFM Asset Management LLC Account 4025-002 Page 39
21 Item 1b September 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending Septeinl>er 30, 2024 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
09/25/24 09/25/24 BMWOT 2024-A A3
DTD 06/11/2024 5.180% 02/26/2029
096919AD7 0.00 3,086.42 3,086.42
09/29/24 09/29/24 CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.864% 09/29/2025
17325FBA5 0.00 11,141.60 11,141.60
09/30/24 09/30/24 HORMEL FOODS CORP (CALLABLE)
DTD 03/08/2024 4.800% 03/30/2027
44O452AK6 0.00 6,464.00 6,464.00
09/30/24 09/30/24 US TREASURY N/B
DTD 04/01/2024 4.500% 03/31/2026
91282CKH3 0.00 202,500.00 202,500.00
09/30/24 09/30/24 HOME DEPOT INC (CALLABLE)
DTD 12/04/2023 4.950% 09/30/2026
437076CV2 0.00 5,816.25 5,816.25
Transaction Type Sub-Total 0.00 729,926.33 729,926.33

PAYDOWNS
09/01/24 09/25/24 FHMS K058 Al
DTD 11/01/2016 2.340% 07/01/2026
3137BSP64 13,391.36 13,391.36 0.00 13,391.36 686.30 449.65 09/01/24 09/25/24 FHMS K069 A2
DTD 11/01/2017 3.187% 09/01/2027
3137FBU79 1,184.84 1,184.84 0.00 1,184.84 57.30 54.14
09/01/24 09/25/24 FHMS K733 A2
DTD 11/01/2018 3.750% 08/01/2025
3137FJXQ7 240.47 240.47 0.00 240.47 7.91 4.21
09/01/24 09/25/24 FNA 2015-M11 A2
DTD 07/01/2015 2.944% 04/01/2025
3136APSZ6 3,333.28 3,333.28 0.00 3,333.28 130.34 58.46
09/01/24 09/25/24 FHMS K065 Al
DTD 07/01/2017 2.864% 10/01/2026
3137F1G36 21,540.30 21,540.30 0.00 21,540.30 929.77 681.86 09/15/24 09/15/24 HART 2023-C A2A
DTD 11/13/2023 5.800% 01/15/2027
4491SCABS 45,064.66 45,064.66 0.00 45,064.66 2.11 1.57
09/15/24 09/15/24 HAROT 2024-1 A2
DTD 02/21/2024 5.360% 09/15/2026
437918AB1 24,309.41 24,309.41 0.00 24,309.41 2.25 1.75
09/15/24 09/15/24 WOART 2024-A A2A
DTD 02/14/2024 5.050% 04/15/2027
98164RAB2 28,867.59 28,867.59 0.00 28,867.59 2.26 1.81
09/15/24 09/15/24 CARMX 2022-2 A3
DTD 04/28/2022 3.490% 02/16/2027
14317HAC5 34,548.50 34,548.50 0.00 34,548.50 897.45 626.85 09/15/24 09/15/24 COPAR 2023-2 A2A
DTD 10/11/2023 5.910% 10/15/2026
14044EAB4 73,949.31 73,949.31 0.00 73,949.31 6.53 4.63
PFM Asset Management LLC Account 4025-002 Page 40
22 Item 1b September 2024 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending September 30, 2024 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type
Par
Principal
Proceeds
Accrued
Interest Total
Realized G/L
Cost
Realized G/L
Amort Cost
Sale
Trade Settle Security Description CUSIP Method

PAYDOWNS
09/15/24 09/15/24 NAROT 2023-B A2A
DTD 10/25/2023 5.950% 05/15/2026
654S0MAB9 81,865.12 81,865.12 0.00 81,865.12 1.20 0.78
09/15/24 09/15/24 HART 2022-C A3
DTD 11/09/2022 5.390% 06/15/2027
44933DAD3 19,343.53 19,343.53 0.00 19,343.53 148.85 112.58 09/15/24 09/15/24 MBART 2023-2 A2
DTD 10/25/2023 5.920% 11/16/2026
58769FAB1 24,671.98 24,671.98 0.00 24,671.98 1.11 0.80
09/15/24 09/15/24 WOART 2023-D A2A
DTD 11/08/2023 5.910% 02/16/2027
98164DAB3 25,197.42 25,197.42 0.00 25,197.42 2.12 1.59
09/20/24 09/20/24 VALET 2023-2 A2A
DTD 11/21/2023 5.720% 03/22/2027
92867YAB0 30,451.99 30,451.99 0.00 30,451.99 1.78 1.35
09/22/24 09/22/24 PFAST 2023-2A A2A
DTD 11/10/2023 5.880% 11/23/2026
732916AB7 90,341.94 90,341.94 0.00 90,341.94 2.77 2.02
09/25/24 09/25/24 CHAOT 2024-2A A2
DTD 04/25/2024 5.660% 05/26/2027
16144CAB2 57,229.20 57,229.20 0.00 57,229.20 2.06 2.06
09/25/24 09/25/24 CHAOT 2024-1A A2
DTD 03/27/2024 5.480% 04/26/2027
16144BAB4 17,078.48 17,078.48 0.00 17,078.48 1.44 1.19
Transaction Type Sub-Total 592,609.38 592,609.38 0.00 592,609.38 2,883.55 2,007.30 SELL
09/27/24 09/27/24 US TREASURY N/B
DTD 05/31/2023 4.250% 05/31/2025
91282CHD6 350,000.00 350,095.70 4,836.41 354,932.11 5,154.29 2,034.04 FIFO 09/30/24 09/30/24 US TREASURY N/B
DTD 05/31/2023 4.250% 05/31/2025
91282CHD6 200,000.00 200,117.19 2,833.33 202,950.52 3,007.81 1,211.30 FIFO Transaction Type Sub-Total 550,000.00 550,212.89 7,669.74 557,882.63 8,162.10 3,245.34 Managed Account Sub-Total (11,402,800.31) 695,865.66 (10,706,934.65) 11,045.65 5,252.64 Total Security Transactions ($11,402,800.31) $695,865.66 ($10,706,934.65) $11,045.65 $5,252.64 PFM Asset Management LLC Account 4025-002 Page 41
Staff Report – Item 1c
Item 1c: Approve SVCE 2023 Annual Power Source Disclosure Report Attestation From: Monica Padilla, CEO
Prepared by: Thomas Messier, Power Settlements & Compliance Analyst Zak Liske, Deputy Director of Power Resources
Date: 11/13/2024

RECOMMENDATION
Staff recommends that the SVCE Board of Directors (Board) approve the use of statistics reflected in SVCE’s 2023 annual Power Source Disclosure reports for purposes of preparing SVCE’s 2023 Power Content Label and endorse the accuracy of information presented in SVCE’s 2023 Power Source Disclosure report for GreenStart service.

BACKGROUND
California Public Utilities Code requires all retail sellers of electric energy, including SVCE, to disclose “accurate, reliable, and simple-to-understand information on the sources of energy” that are delivered to their respective customers.1 Applicable regulations direct retail sellers to provide such communications to customers following each year of operation. The format for requisite communications is highly prescriptive, offering little flexibility to retail sellers when presenting such information to customers. This format has been termed the “Power Content Label” (or PCL) by the California Energy Commission (CEC). Prior to distributing the PCL to its customers, SVCE annually submits a report regarding its specified power purchases to the CEC. This report is a required element of California’s Power Source Disclosure Program (PSD Program) and was timely submitted to the CEC prior to the June 1st reporting deadline. Both the aforementioned annual report and the PCL are required elements of California’s PSD Program, and information reflected in the annual report is contributory to the PCL (with the annual report’s power supply breakout being inserted in the PCL).

Information presented in the PCL includes the proportionate share of total energy supply attributable to various resource types, including both renewable and conventional fuel sources. SVCE’s Marketing and Communications team is in the process of designing the 2023 Power Content Label.

ANALYSIS & DISCUSSION
During the 2023 calendar year, SVCE successfully delivered a substantial portion of its electric energy supply from various Renewable Portfolio Standard (RPS) eligible energy sources, including wind, solar, geothermal, small hydroelectricity, biomass and biogas. For GreenStart customers, the percentage of supply attributable to RPS eligible sources approximated 36.7 percent; SVCE’s actual GreenStart procurement equaled 39.6 percent RPS eligible resources.2 . Overall GreenStart was approximately 100% carbon-free with the inclusion 1 California Public Utilities Code Section 398.1(b) Note: that Section (b)(1), as referenced in the excerpt from applicable PSD regulations, refers to the completion of annual independent audits. 2 Assembly Bill 1110, passed in 9/26/16, California Energy Commission “Modification of Regulations Governing the Power Source Disclosure Program” 5/15/20, modified the PCL reporting requirements starting with reporting year 2020 to include emissions associated with power supply and treatment of over procurement of resources. As such, for 2023 while SVCE has procured 39.6% RPS eligible resources under GreenStart, because SVCE had more clean resources than load only 36.7% will be shown on the PCL.

Item 1c
ffXSILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 1c Agenda Date: 11/13/2024
2 of large hydroelectricity and nuclear energy. For GreenPrime customers, RPS eligible energy comprised 100 percent of the supply portfolio met with RPS-eligible resources. For GreenPrime Direct customers, RPS eligible energy comprised 62.2 percent of the supply portfolio and overall, 100% carbon-free.

Consistent with applicable regulations, SVCE will complete requisite customer communications following the Board’s approval of pertinent information to be included in the 2023 PCL. Customers receiving PCL communications will include those enrolled in the SVCE program as of December 31, 2024 – the distribution list was derived based on prior discussions with designated CEC staff.

SVCE’s GreenPrime retail service option is a Green-e Energy certified product, conforming to guidelines established by the Center for Resource Solutions, the Green-e Energy program administrator. As part of this certification, SVCE must successfully complete an annual independent audit of power sources, ensuring the delivery of qualifying renewable energy to participating GreenPrime customers. Such audits were timely completed, noting “no exceptions” in related audit reports.

While preparing SVCE’s 2023 annual PSD report, staff performed a detailed review of all power purchases completed for the 2023 calendar year. This review included an inventory of all renewable energy transfers within SVCE’s Western Renewable Energy Generation Information System (WREGIS) accounts, pertinent transaction records, and requisite independent audits for SVCE’s voluntary GreenPrime, 100% renewable energy program, which also provides 100% renewable energy to participating customers. Based on staff’s review of available data and findings of the independent auditor (related to the GreenPrime product offering), the information presented in the annual report was determined to be accurate. Again, such information will be reflected in SVCE’s upcoming PCL for 2023 operations.

To fulfill its obligations under the PSD Program, SVCE must also provide the CEC with an attestation of its Governing Board regarding the accuracy of information included in the PSD annual reports.

Because SVCE’s GreenPrime product offering is independently audited (a process that was completed in June 2024 for the 2023 operating year), SVCE is proceeding with self-certification of its annual report for the GreenStart, GreenPrime, and GreenPrime Direct product offering, consistent with PSDP regulations. Evidence of such attestation must be provided to the CEC by January 31st, 2025.

Should the Board endorse staff’s recommendation, a copy of this staff report, and related meeting minutes will be forwarded to the CEC, thereby completing SVCE’s obligations under the PSD Program for the 2023 calendar year.

STRATEGIC PLAN
As referenced in SVCE’s Strategic Plan, SVCE will use various channels and platforms to cultivate relationships with and bring customer value to all segments of the communities we serve. Complying with these regulations will increase customer trust and continue SVCE’s transparency.

ALTERNATIVE
Should the Board choose not to endorse the information provided for the power content label, staff will need to file an extension with the CEC and hire an auditor to review SVCE’s data for compliance.

FISCAL IMPACT
N/A

ATTACHMENT

1. 2023 SVCE Power Content Label
Item 1c
2023 POWER CONTENT LABEL

SILICON VALLEY CLEAN ENERGY
https://www.svcleanenergy.org/
Greenhouse Gas Emissions Intensity
(lbs CO2e/MWh) Energy Resources GreenStart GreenPrime GreenPrime Direct
2023 CA
Power Mix
Eligible Renewable1 36.7% 100.0% 62.2% 36.9%
Biomass & Biowaste 3.0% 0.0% 0.0% 2.1%
58 0 0 373 Geothermal 14.0% 0.0% 0.0% 4.8%
Eligible Hydroelectric 0.2% 0.0% 0.0% 1.8%
Solar 11.5% 50.0% 0.0% 17.0%
Wind 8.1% 50.0% 62.2% 11.2%
Coal 0.0% 0.0% 0.0% 1.8%
Large Hydroelectric 38.1% 0.0% 37.8% 11.7%
Natural Gas 0.0% 0.0% 0.0% 36.6%
Nuclear 25.1% 0.0% 0.0% 9.3%
Other 0.0% 0.0% 0.0% 0.1%
Unspecified Power2 0.1% 0.0% 0.0% 3.7%
TOTAL 100.0% 100.0% 100.0% 100.0%
Percentage of Retail Sales Covered by Retired Unbundled RECs3: 0% 0% 0% 1The eligible renewable percentage above does not reflect RPS compliance, which is determined using a different methodology. 2Unspecified power is electricity that has been purchased through open market transactions and is not traceable to a specific generation source. 3Renewable energy credits (RECs) are tracking instruments issued for renewable generation. Unbundled renewable energy credits (RECs) represent renewable generation that was not delivered to serve retail sales. Unbundled RECs are not reflected in the power mix or GHG emissions intensities above.

For specific information about this electricity portfolio, contact: Silicon Valley Clean Energy 1-844-474-SVCE (7823)
For general information about the Power Content Label, visit: https://www.energy.ca.gov/programs-and-topics/programs/power-source-disclosure-program GreenStart GreenPrime GreenPrime Direct 2023 CA Utility Average
0 200
400
600
800
1000
GreenStart
GreenPrime
GreenPrime Direct
2023 CA Utility Average
Item 1c
Attachment 1

Page 1 of 1 ends

Staff Report – Item 1d
Item 1d: Receive FY24 Q4 Decarbonization Strategy and Programs Quarterly Report From: Monica Padilla, CEO
Prepared by: Justin Zagunis, Director of Decarbonization Programs & Policy Douglas Bernard, Decarbonization Management Analyst
Date: 11/13/2024

RECOMMENDATION
Staff recommends the SVCE Board of Directors (Board) accept the Q4 2024 update of the Decarbonization Strategy and Programs quarterly report.

BACKGROUND
To achieve its mission to reduce dependence on fossil fuels by providing carbon-free, affordable and reliable electricity and innovative programs for the community, SVCE established a decarbonization strategy and programs roadmap (“Roadmap”), which can be found on SVCE’s website: SVCE Decarbonization Strategy and Programs Roadmap. In December 2018, the Board approved the Roadmap, and since that time, staff have been working on implementation of this Roadmap - as well as subsequent joint action plans and other additions to the programs portfolio as approved by the Board. The quarterly report included here presents a summary of all approved program activity to date.

ANALYSIS & DISCUSSION
Attachment 1 is an update of the Decarbonization Strategy and Programs quarterly report. The quarterly update includes a table with a summary of updates from last quarter and the target for next quarter.

STRATEGIC PLAN
This item supports SVCE’s 2024-2025 Strategic Plan Goal 7, to “support all SVCE communities to decarbonize through local investments that reduce barriers and demonstrate sensible, scalable, and equitable solutions.

FISCAL IMPACT
Accepting the Q4 2024 Update of the Decarbonization Strategy and Programs quarterly report has no fiscal impact.

ATTACHMENT

1. Decarbonization Strategy & Programs Quarterly Report – Q4 2024 Update Item 1d
SILICON VALLEY \3/ CLEAN ENERGY
305
L2 ports
installed
through
CALeVIP

DECARBONIZATION PROGRAMS
FY24 Q4 Milestones
Quarterly Report
153
L1/L2 ports
installed through
EV Charging
Incentives
1,350
completed
electrification
projects through
Home Rebates
Item 1d FY24 Q4 Decarbonization Strategy and Programs Quarterly Report SILICON VALLEY \3/ 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
2 multifamily sites enrolled
Completed initial intake for 2
sites
Develop Electrification
Plans for 2 sites, continue
pursuit of new sites
EV Charging
Incentives
$11.4M
80 MUDs with EVI
(720 ports)
4,000 L1/L2
chargers at
affordable housing
18 MUD active
reservations (153 ports)
13 sites completed
(149 L1/L2)
Processed 6 new MUD claims
for 77 additional EV ports
Expand enrollment, adjust
incentive levels and raise
maximum incentive per site
Home Rebates $10.05M
2,800 homes
fully/partially
electrified
1,350 homes fully/partially
electrified
Cumulative results: 604
HPWH, 885 HVAC, 48
Induction, 424 prewiring.

New application portal
delayed
Hit 1,700 claims. Launch
new rebate and claims
processes
Electrification
Rate Discount
$9.5M
5,000 customers
enrolled
3,000 enrolled
Significant enrollment
growth. NEM analysis
completed. Synthesized
learnings to-date
Finalize proposals for E-ELEC design revision.

Create timeline for board
presentation.

Community
Energy
Resilience
$5.15M
13 agencies complete
projects
4 completed agency
projects
Los Altos Hills completed
battery project
Monitor and reimburse
agencies as projects move
to completion
C&I
Decarbonization
Program
$5M
8,000 metric tons of
CO2e removed
through carbon saving
measures
38 customer leads, 3
Participation Agreements
in legal review
Outline program at SVCE
“Watts for Lunch”
Secure 4-9 signed
Participation Agreements,
complete site assessments
Decarbonization
Demonstration
Grants
$3.2M
8 local public facing
electric projects
1 project complete
Worked with several
agencies to execute grant
extensions to accommodate
project delays
Support grantee
community engagement
efforts and grant
extensions
Permit
Modernization
$3.2M
13 member agencies
improve electrification
permitting
Data gathered and
planning underway
Action plans are all
distributed and resources will
flow out in Q1 of 25
Resources actively
deployed in at least ten
agencies
CALeVIP 1.0 $2.5M
85 DCFC installed
1,100 L2 installed
10 DCFC installed
305 L2 installed
Continued processing
incentive payments as
installations were completed
Continue making payments
to DCFC and L2 projects as
they are completed

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 Q4
Item 1d FY24 Q4 Decarbonization Strategy and Programs Quarterly Report ©

SILICONVALLEY

CLEAN ENERGY
Name Budget Potential Impact Cumulative Impact To-Date Last Quarter (Update) Next Quarter (Target) Customer
Resource Center
(eHub)
$2.1M

1.5M email opens
350K unique web
visits
811K email opens
390K web visits,
735 total claimed rebates
(375 yard equipment)
Sent emails promoting:

Yard Care Promotion
Solar + Battery Assistant
Summer Promotion
Summer Sweepstakes
Launch eHub 2.0 in
November which is a
substantial product release
Fast Charger
Incentives
$1.875M
10 DCFC installations
near MUD hotspots
10 of 10 ports are live now (4
sites)
All sites now energized.

Awaiting 1 final claim for 2
ports.

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
Work impacted due to
repercussions from Berkeley
decision. Rather than try to
advance policies that aren't
gaining traction, focused on
BAAQMD readiness
Develop preliminary list of
policy options for agencies
to consider in 2025
Contractor
Training
$1.7M
300 contractors
trained
500 graduate
incentives
277 contractors completed
training. 147 approved
graduate incentive claims
Q3 has historically been a
down period for training
enrollments and that
seasonal trend continued
Q4 is typically busier for
enrollments. Send mailers
directly to contractors who
participated in FutureFit
Homes. Mailers will have a
QR code to direct
contractors to the training
webpage
Programs
Marketing Fund
$1M
4,500 new program
participants
Nearly 1,200 program
participants (Go Electric
Advisor, Gridshift, Business
Rebates, Home Rebates,
Contractor Training, EVI
programs)
Rebates campaign beat
engagement goals with

6.26M impressions on
Google/Meta and a $0.26
cost per landing page visit.

Over 100 visitors used GEA
Launch a large Go Electric
campaign to help launch the
new eHub Incentives Finder
and two other programs
GridShift EV
Charging and
Rebates
$973K
Bill/emissions savings
and load shifting
capacity
1,492 EVs enrolled
55 charger rebates
Prepared for ChargeWise
(hourly price signal) pilot
launch in mid-October
Launch ChargeWise pilot and
recruit pilot participants
Go Electric
Advisor
$892K
3,600 customers use
hotline, 1,200 use
tech assistance, 350
use electrification
plans
540 customers use service
Steady participation after
rise in Q3. Ensuring advisors
are trained on upcoming
single-family programs
Increase marketing
campaigns and aim for 300
new contacts
Business
Rebates
$750K
20-30 SMBs
electrified
5 SMBs fully/partially
electrified
Met with 4 out of 13 city
Economic Development
staff. Attended 5 Chamber
events. Awarded 1 rebate
claim. Issued RFP for CBO to
support outreach
Award 2 to 4 new claims,
move forward with a CBO
partner, present at 3 to 5
chamber events, finalize
scheduling for Rebates and
Incentives workshop.

PROGRAMS PORTFOLIO
Active Programs
View our active rebates here.
2 FY24 Q4
Item 1d FY24 Q4 Decarbonization Strategy and Programs Quarterly Report ©

SILICONVALLEY

CLEAN ENERGY
Name Budget Potential Impact Cumulative Impact To- Date Last Quarter (Update) Next Quarter (Target) EV Charging
Planning $725K
60 assessments,
36 projects done,
250 ports installed
72 applications
(45 completed) Prepared 3 site solutions; enrolled 5 new properties Expand enrollment; determine plans for 2025 EM&V $640K
Evaluate 80% of SVCE
programs within 1 year of
launch
9 reports completed, 2 in
progress
TO14 (Reach Codes)
completed. TO6 and TO15
draft reports under review. Active TOs extended
through 12/31/24. Complete TO6 (EVI) and TO15 (FFH). Set up TOs for Member Agency Grants and Rock Rabbit. Scope 4 new Task Orders. Reach Codes 2.0 $600K Require all new buildings to be emissions-free 13 agencies adopt electrification ordinances Campbell and Cupertino advanced their reach code Respond to requests from agencies and look ahead for future code opportunities SV Building
Electrification
Stronger
Together
$600K
Educate stakeholders
about building
electrification
35 new stakeholders
engaged to date
Contractor RFP released
on September 30
Release community
partnership grant and
conduct information session
Decarbonization
Engagement
Grants
$442K
5 communities engage
residents on climate action
topics
1 project complete Los Altos Hills completed educational kiosk project Monitor and reimburse agencies as projects move to completion Natural Gas
Phaseout
Feasibility
$300K
Complete 2 whitepapers
to inform local, regional,
and statewide policies
1 whitepaper (funding
requirements) completed
Delivered one paper on
how to fund
decarbonization in SVCE
territory. Made progress
on technical solutions
analysis paper
Develop phase 2 Scope of
work, complete technical
solutions analysis paper
Fleet
Electrification $300K
Complete fleet
electrification and charger
installation planning for 10
fleets
10 fleets in progress
Several agencies have
progressed, but finalizing
plans require PG&E to
finish their planning work. One agency close to
completion
Finalize two agency
engineered plans and
progress on two additional
plans
SV
Transportation
Electrification
Clearinghouse
$150K Create cohort to enable
equitable electrification. Merged into other programs Original goals matured into initiatives. Program merged with other programs Original goals matured into initiatives. Program merged with other programs 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 Q4
Item 1d
FY24 Q4 Decarbonization Strategy and Programs Quarterly Report 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 November 2024 Resiliency,
Engagement, and
Decarbonization
(RED) Grants
$10M
Fund resiliency, engagement, and
decarbonization projects for
Member Agencies, schools,
community groups, and non-profits
Finalized program design for Member
Agency non-competitive grants and
competitive grants
Launch grants and distribute
applications to member agencies
Tariffed On Bill
(TOB) Financing
$5.2M
200 customers finance
electrification
Board contract approval. Ongoing
pilot design & coordination with other
single-family programs
Continued pilot design in preparation
for Q2 FY25 launch, including final
contract adjustments as necessary
Innovation Onramp $2.4M
1-2 pilot projects per year that
advance electrification programs
and strategies
Rock Rabbit launch delayed due to
SVCE back-end systems alignment
Launch grant solicitation for EVI and
select awardees, Launch of Rock
Rabbit app
Neighborhood
Electrification
$1.5M
Test model to electrify buildings
within a community. Electrify 15
homes and set plans for 24 homes
Conducted focus group with
residents. Feedback may inform RFP
to be released next quarter
Release RFP for vendor and host at
least one electrification event.

EV Rebates $1.5M
600 EV purchase incentives for
income qualified customers
Finalized program development and
prepared for program launch.

Recruited dealerships and community
engagement plans
Launch point-of-sale and Post-Purchase EV Rebate program. Run 3-4 EV education community events
Workforce
Development
Partnerships
$1.3M
Increase capacity to coordinate
and train skilled workforce for
residential electrification jobs
Began program design and
engagement with key partners
Complete Program Design and Launch
1 initiative
Demand Flexibility
and Virtual Power
Plant programs
$1M
Connectivity to flexible, customer-sided loads to enable bill savings, avoided generation and capacity
costs, reliability and carbon
benefits
Connected Uplight to Morgan Hill’s
meter data (manual uploads via FTP).

Ran 31 events, including 12 Level 2
events. No grid emergencies
Call 10 events (fewer during cooler
months). Evaluate M&V data from
Uplight to assess load shed per $
invested, feed into ongoing demand
flex RFP
E-Bike Rebates $500K 450 e-bikes Began initial program design Stakeholder outreach, finalize program
design
Portable Heat
Pumps
$500K 100 portable heat pumps
Reassessed priority level of program,
technology available
Deprioritized for now to focus on
higher impact programs. Revisit end of
2025

PROGRAMS PORTFOLIO
Planning
View our active rebates here. 4
FY24 Q4
Item 1d FY24 Q4 Decarbonization Strategy and Programs Quarterly Report 10/2
12/2
2/23
4/23
6/23
8/23
10/23
12/23
2/24
4/24
6/24
8/24
$0.00
$1,000.00
$2,000.00
$3,000.00
$4,000.00
Rebates claimed:

Current Level of $ 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
0 200 400 600 800 1000
HPWH

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

Funds Claimed:

Goal:

Home Rebates
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.

EV Charging Planning
Assistance in site assessment, preliminary
design, and applying to rebates for charging at
multifamily housing and small and medium
workplace properties.

EV Charging Incentives
Number of Claims
PROGRAMS HIGHLIGHTS FY24 Q4
5 $1.63M
$3.85M
$548K
35 Sites, 150 ports
Rebates reserved:
= 5 Installed EVSE Ports
Cumulative $ Funds Claimed to Date (in 000s)
Cumulative Applications
Completed Assessments
$572k
Item 1d FY24 Q4 Decarbonization Strategy and Programs Quarterly Report SILICON VALLEY <3/ CLEAN ENERGY
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
7/24
9/24
0 100
200
300
400
500
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
Contractor Training
Provide financial relief to contractors by
expanding their knowledge of electrification
technologies.
1K Level 2 + 85 DC Fast
Chargers
Goal:

Funding: $11.58M
= 10 Participants Complete Course
Funds Issued = 5 DCFC Installations
416
Remaining Funds
Registrations
277
$3.34M
$700K
$1.44M
$457K
$84K
6 PROGRAMS HIGHLIGHTS FY24 Q4
$1.96M
$84K
Item 1d FY24 Q4 Decarbonization Strategy and Programs Quarterly Report **********
**
**********
**********
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*
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OCLEAN ENERGY
1/23/25/2
7/29/2
1 /2
1/23
3/23
5/23
7/23
9/23
4/24
10/24
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
7/24
8/24
9/24
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: 55
Number of Enrolled EVs
1,492
Rebate Goal: $30K
Goal:
120 EV Chargers
added to fleet
eHub Report
Online customer resource center to enable
engagement, education and action related to clean
electricity, EVs and home electrification.
= 1 email campaign completed
390,053
33,122
Unique Visits Return Visits
FY 22-23
7 PROGRAMS HIGHLIGHTS FY24 Q4
Website Visit Goal:

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

Item 1d FY24 Q4 Decarbonization Strategy and Programs Quarterly Report

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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. Contractor Training: Training and financial incentive program for contractors to expand their knowledge and installation of electrification technologies. Go Electric Advisor: 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. Home Rebates: Incentives for various building electrification technologies for single- and small multi-family residential customers. Includes major appliances as well as eventual gas meter removal. Business Rebates: Incentives for projects at a handful of small and medium business properties. Multifamily Retrofits (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 Q4
Item 1d FY24 Q4 Decarbonization Strategy and Programs Quarterly Report

CLEAN ENERGY
CALeVIP: Incentives for L2 and DCFC publicly-accessible EV chargers funded by California Energy Commission and SVCE as part of a regional collaboration. EV Charging Incentives: 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. EV Charging Planning: Technical assistance for preliminary site design and pertinent rebates for charging at multifamily housing and small and medium workplace properties. Multifamily Retrofits (TE Direct Install): Comprehensive transportation electrification retrofits with a direct installer for multifamily affordable housing sites. Fast Charger Incentives: 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.

Grid Integration
9 FY24 Q4
Item 1d FY24 Q4 Decarbonization Strategy and Programs Quarterly Report

CLEAN ENERGY

Page 1 of 3 ends

Staff Report – Item 1e
Item 1e: Approve a Delegation of Authority Allowing the Chief Executive Officer to Purchase Carbon-Free Nuclear Energy for 2025-2027
From: Monica Padilla CEO
Prepared by: Kris Van Vactor, Director of Power Resources Date: 11/13/2024

RECOMMENDATION
Staff recommends that the Silicon Valley Clean Energy Authority’s (SVCE) Board of Directors (Board) authorize SVCE’s Chief Executive Officer (CEO) to to execute agreement(s) to purchase Carbon-Free Nuclear Energy with the following conditions:

1. Delivery in calendar years 2025-2027;

2. Paid volume not to exceed 750,000 MWhs per year;

3. Execute with any counterparty via a WSPP agreement; and

4. Expected dollar amount per year not to exceed $10.8M per calendar year.

Approval of this authorization is necessary to help meet SVCE’s clean goals. The CEO will only exercise the delegated authority should she deem it necessary to meet procurement directives. If executed, the CEO will report volume, term and counterparty to the Board.

EXECUTIVE COMMITTEE RECOMMENDATION
The Executive Committee (Committee) met October 25, 2024 and received a presentation from staff (Attachment 1) with the request for the Committee to support recommending the Board approve the delegation.

The Committee unanimously voted to support the recommendation and include the item on the Consent Calendar.

BACKGROUND
SVCE and Nuclear Power
Since its inception, SVCE has offered one-hundred percent (100%) clean products through its standard product offering GreenStart. This included a mix of Renewable Portfolio Standard (RPS) eligible resources including wind, geothermal, solar and small hydroelectricity along non-RPS eligible, carbon-free large hydroelectricity.

Large hydroelectric energy typically comes from the Pacific Northwest and has flowed to California over the Neveda-Oregon Border and California-Oregon Border interconnection points. In 2020 SVCE started to accept nuclear allocation from Pacific Gas and Electric (PG&E) for the output from the Diablo Canyon Power Plant (DCPP). SVCE continues to receive DCPP allocations as available.

In the last few years given the retirement of coal plants in the Pacific Northwest, increased market participation of commercial and industrial customers, and lower-than-expected rain to feed these resources, the supply of large hydroelectric energy has diminished considerably. This lack of available carbon-free supply resulted in the SVCE Board relaxing the 100% clean targets for calendar years 2024 (Item 4: SVCE November 8, 2023 Agenda Packet) and 2025 (Item 3: SVCE June 12, 2024 Agenda Packet). For calendar year 2025, at its June Item 1e
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 1e Agenda Date: 11/13/2024

Page 2 of 3 ends

34910991v1
12, 2024 meeting, in addition to relaxing the clean target, the Board directed staff to continue to pursue carbon-free resources to achieve an overall clean portfolio with a minimum floor of SVCE’s current position, which was 80% at the time and to target between 85-90% at a cost for fiscal year (FY) 2024-25 of no more than $12 million. Further, the Board authorized the procurement of carbon-free nuclear energy to help meet SVCE’s clean targets.

For 2024, SVCE’s expected clean position will be approximately 80%. For 2025, SVCE’s overall expected clean position is currently 83%, however staff believes 100% may be achieved through the procurement of nuclear energy at an additional cost of $10.8 million. For FY 2024-25, this amount would exceed the Board authorized amount by $5-7 million. Additionally, the nuclear energy offered for 2025 is only available as part of a three-year transaction for 2025-2027.

DISCUSSION
Currently SVCE can only procure nuclear energy and attributes for calendar 2025. The requested delegation of authority would allow SVCE to enter into transaction(s) for nuclear attributes for calendar years 2025, 2026 and 2027. Additionally, for energy-related products, staff are only authorized to transact with enabled counterparties for terms of twelve months or less. This delegation would allow SVCE to contract for the years 2025 to 2027 (a three-year term) with any counterparty using the WSPP enabling agreement.

At the maximum quantity level of the requested authority, the nuclear energy attributes would provide SVCE with expected clean percentages of 101.7% for 2025, 103.7% for 2026, and 110.6% for 2027. At an annual delivery of 750,000 megawatt hours the annual cost will not exceed $10.8M dollars.

Through the Clean Pathways analysis and recommendation, SVCE will further define carbon-free to align with SB100’s definition of carbon-free resources which includes large hydroelectric and nuclear resources.

ALTERNATIVES
If SVCE were not to do this transaction(s), the expected clean percentages would be 83.1% for 2025, 85.3% for 2026, and 92.4% for 2027. Staff would continue to pursue additional carbon-free resources to meet clean targets, however may fall short and therefore would need for the Board to relax the clean targets beyond 2025.

STRATEGIC PLAN
SVCE’s Strategic Plan, Goal #4: Acquire power supply resources in a cost-effective manner to meet legislative and regulatory obligations, Board directives and customer specific products; Measure 1: Annually and/or per compliance period, meet or exceed agency goals for clean and reliable electricity.

FISCAL IMPACT
The transaction(s), if executed, will begin delivery in January 2025 requiring an adjustment to FY 2024-25 budget, which would be included in December 2024. Funds for resources delivered in 2026 and 2027 would be included in the respective budgets.

Item 1e
1 2025 2026 2027 ।
Clean Target 85% 100% 100%
Current Clean Position 83.1% 85.3% 92.4%
Expected Clean Position with
Nuclear Purchase (750K) 101.7% 103.7% 110.6%
Agenda Item: 1e Agenda Date: 11/13/2024

Page 3 of 3 ends

34910991v1

ATTACHMENT

1. Presentation provided to the Executive Committee on 10/25/24 Item 1e
1 Delegation of Authority to
Purchase Carbon-free
-Nuclear Energy for 2025
2027
10/25/2024
•
Executive Committee
Item 1e
Attachment 1
CEO Delegation of Authority to Purchase Carbon-Free Nuclear Energy for 2025-2027 2 Request of Executive Committee
Recommend to the SVCE Board of Directors a Delegation of Authority allowing the Chief Executive Officer CEO to execute agreement(s) to purchase Carbon-Free Nuclear Energy with the following conditions:

1. Delivery in calendar years 2025-2027;

2. Paid volume not to exceed 750,000 MWhs per year;

3. Executed with any counterparty via a WSPP agreement;

4. Expected dollar amount per year 10.8M
Item 1e
Attachment 1
CEO Delegation of Authority to Purchase Carbon-Free Nuclear Energy for 2025-2027 3 SVCE and Nuclear Power
COSO
This request will allow SVCE more flexibility in purchasing nuclear carbon free attributes • In 2020 SVCE started to accept the Nuclear allocations from PG&E for the Diablo Canyon Power Plant.

This authority to accept allocations did not extend to procurement. • Due to shrinking availability of Large Hydro Carbon Free attributes. Staff has requested transaction authority to procure these attributes, if available on a year-to-year basis (2024). • At June the board meeting SVCE staff requested the ability to procure these attributes for 2025 with certain budget constraints for fiscal year 2024-25.
• Through the Clean Pathways analysis and recommendation, SVCE will further define Carbon Free to align with SB100 defined resources which includes large hydro and nuclear.

Item 1e
Attachment 1
CEO Delegation of Authority to Purchase Carbon-Free Nuclear Energy for 2025-2027 4 Change in Clean Position
2025 2026 2027
Clean Target 85% 100% 100%
Current Clean Position 83.1% 85.3% 92.4%
Expected Clean Position with
Nuclear Purchase (750K) 101.7% 103.7% 110.6%
If transaction(s) is executed:

1. CEO will report to the Board volume, term and counterparty

2. Operating Budget increase associated with the transaction(s) will be included as part of Fiscal Year's 2024-25 budget update in December 2024
Item 1e
Attachment 1
CEO Delegation of Authority to Purchase Carbon-Free Nuclear Energy for 2025-2027 5 Request of Executive Committee
Recommend to the SVCE Board of Directors a Delegation of Authority allowing the Chief Executive Officer CEO to execute agreement(s) to purchase Carbon-Free Nuclear Energy with the following conditions:

1. Delivery in calendar years 2025-2027;

2. Paid volume not to exceed 750,000 MWhs per year;

3. Executed with any counterparty via a WSPP agreement;

4. Expected dollar amount per year 10.8M
Item 1e
Attachment 1
CEO Delegation of Authority to Purchase Carbon-Free Nuclear Energy for 2025-2027

Page 1 of 4 ends

Staff Report – Item 1f
Item 1f: Approve GreenPrime Product and Rate Methodology From: Monica Padilla, CEO
Prepared by: Don Bray, Director of Strategic Development Zak Liske, Deputy Director of Power Resources
Date: 11/13/2024

RECOMMENDATION
Authorize the Chief Executive Officer (“CEO”) to make changes to Silicon Valley Clean Energy’s (SVCE) GreenPrime retail rate product, starting in 2025 as follows:

1. Reprice GreenPrime premium over GreenStart to be based on updated methodology, balancing portfolio renewable energy credit (REC) value with marginal REC cost; and

2. Cap total participation at 200 gigawatt hours (GWh) per year and 20 GWh per customer per year.

3. Increase cost premium of GreenPrime from 1.5 cents per kilowatt hour (kWh) to 1.7 cents/kWh.

EXECUTIVE COMMITTEE RECOMMENDATION
At the October 25, 2024 Executive Committee meeting, staff proposed (Attachment 1) an updated methodology to how the GreenPrime product is sourced and rate premium established. The Executive Committee unanimously supported the modifications presented by staff as reflected in the recommendation via this staff report to the Board, in addition to including the item on the Consent Calendar.

BACKGROUND
SVCE offers two standard rate products for its customers, GreenStart and GreenPrime. SVCE currently procures its carbon-free energy needs for the GreenStart product via large-hydro and both short-term and long-term Renewable Portfolio Standard (RPS) eligible resources such as geothermal, wind and solar. Today, through the Power Cost Indifference Adjustor (PCIA) mechanism and related Voluntary Allocation/ Market Offer (VAMO) process, a portion of SVCE’s clean portfolio is also met with allocated legacy PG&E resources, including both RPS, and large hydroelectricity. GreenStart sales volume in 2024, represents approximately 90% of SVCE’s overall load.

SVCE’s GreenPrime is comprised of 100% renewable energy. The product has been offered since 2017 and through 2023 was backed by ‘Green-e Certified’ RECs which are verified voluntary RECs from newer built projects. Starting in 2024, SVCE no longer provides a Green-e Certified product, but instead provides a self-certified and independently audited product that is based on required reporting to Western Renewable Energy Generation Information System (WREGIS) and Power Content Label (PCL).

GreenPrime sales volume in 2023 is ~190 GWh, approximately 5% of SVCE’s overall load. Half of this annual volume is purchased by SVCE’s member agencies to serve municipal load, demonstrate community leadership, and maximize GHG reduction. Another ~45% of GreenPrime volume is purchased by large commercial customers, to demonstrate their commitment to renewables and satisfy requirements of voluntary programs such as the US Environmental Protection Agency’s prestigious ‘Green Power Partnership’ program, and the US Green Building Council’s Leadership in Energy and Environmental Design (LEED) program for construction of Item 1f
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 1f Agenda Date: 11/13/2024

Page 2 of 4 ends

green buildings. The remaining 5% of GreenPrime load serves approximately 2,000 residential customers who have ‘opted up’ to receive 100% renewable energy. Since SVCE’s launch, GreenPrime customers paid a premium of 0.8 cents per kWh for the product (8/10ths of a cent) through 2023 and 1.5 cents per kWh in 2024.

Both GreenStart and GreenPrime rely on RPS products. RPS prices have seen dramatic increases over the past several years, largely due to increased demand from corporate buyers, on-going delays for new projects, and the end of RPS Compliance Period Four (CP4). As recently as 2022, SVCE paid approximately $12 for Renewable Energy Credits (RECs) but in recent solicitations have seen prices above $80. For GreenPrime, this is further complicated by the marginal nature of the product that has typically been purchased year to year.

At the November 8, 2023 meeting, the Board approved a significant rate premium for GreenPrime over GreenStart due to increased cost of meeting GreenPrime needs. At that time, staff indicated it would return with a longer-term approach to calculating rate premiums for GreenPrime.

ANALYSIS & DISCUSSION
Staff evaluated how to more efficiently source and price the GreenPrime product and developed a proposal that addresses the following goals:

1. Establish longer-term roadmap with year-over-year (YOY) RPS targets for GreenStart, and integrated GreenStart/GreenPrime RPS sourcing needs

2. Update positioning of GreenPrime offering, and establish more certainty around future GreenPrime RPS needs

3. Plan for uncertainty in RPS deliveries, and future PPA (Power Purchase Agreement) CODs (Commercial Operation Dates)

4. Establish updated methodology for valuing GreenPrime premium to avoid cross-subsidization and year-to-year price shocks
SVCE is addressing GreenPrime RPS supply needs in conjunction with GreenStart RPS needs. Over time, SVCE expects the GreenStart RPS level to increase and potentially to 100% renewable over the next decade. During this time, while SVCE is making procurement decisions to source the GreenStart product, staff expects that there will be supply in the portfolio to provide some of GreenPrime’s renewable needs.

Part of this increased certainty will be provided by creating GreenPrime enrollment requirements. First, the total program will be capped to 200 GWh per year. Second, any one customer must have load below 20 GWh per year. These limits have been analyzed and staff believes adequate headroom exists for both aggregate program enrollment as well as individual customer enrollment. Further, by introducing a cap on individual customer size, the intention is to direct more large customers to a custom product offering that is more tailored to their goals and needs.

Historically, supply provided to GreenPrime has been procured year-to-year which has been cost effective as RPS costs were relatively low. In recent years, as RPS prices have elevated significantly, staff reevaluated how to source GreenPrime. Instead of procuring entirely on the margin, now that SVCE has built a substantial portfolio of renewable resources, GreenPrime is eligible to receive its share of renewable generation. This is done by first taking two primary factors into account:

1. Account for intermittent resource generation uncertainty

2. PPA development risk and COD delays
After accounting for these factors, which approximates to a 15% margin of error, GreenPrime is eligible to receive its load share of portfolio renewables (e.g. if GreenPrime is 5% of total load, then GreenPrime receives 5% of discounted portfolio renewable supply). This is illustrated in a basic example:

Figure 1 has a RPS portfolio of 2,000 GWh with a 15% margin of error that results in a discounted portfolio of 1,700 GWh.

Item 1f
Agenda Item: 1f Agenda Date: 11/13/2024

Page 3 of 4 ends

Figure 2 shows GreenPrime receiving 5% of 1,700 = 85 GWh of portfolio RPS. The remaining 115 GWh of GreenPrime supply must be met by marginal resources.

Figure 1: Hypothetical Portfolio RPS
Figure 2: Hypothetical GreenPrime Supply Sources
Lastly, the premium methodology is now more dynamic and results in a rate that is not cross-subsidized by GreenStart and also avoids year-to-year price shocks. One of the most important factors in pricing GreenPrime is to ensure that those customers that want a premium product are paying for it and that those premium costs are not borne by GreenStart. Cross-subsidization is mitigated by setting up strict limits on how much RPS is provided by the portfolio and how much must be procured in the market. Also present in the new methodology is a smoothing that will result in price stability for customers seeking a premium product.

GreenPrime uses a 4-year rolling average of annual RPS costs to ensure that the rate is stable.

The rate is calculated based on the difference between providing renewable energy between 100% and the GreenStart RPS level multiplied by the difference between the weighted average RPS price and avoided carbon free cost. The Weighted Average RPS Price is based on cost of RPS from the portfolio and from marginal supply.

Hypothetical SVCE RPS Portfolio
(GWh)

GreenPrime Supply Sources (GWh)

Item 1f
Agenda Item: 1f Agenda Date: 11/13/2024

Page 4 of 4 ends

Illustrative Rate Premium Example:

GreenPrime Premium = (100% – GreenStart RPS %)x(Weighted Average RPS Price – Avoided Carbon Free Cost)
=(100% – 50%)x($60 – 30)
= 50% x ($60 – 30)
= 50% x ($30)
= $15 per MWh or $0.015 per kWh = Calendar Year Rate
4 year Rolling Average Rate
= Average (𝐂𝐚𝐥𝐞𝐧𝐝𝐚𝐫 𝐘𝐞𝐚𝐫 𝐑𝐚𝐭𝐞𝐧−𝟏, 𝐂𝐚𝐥𝐞𝐧𝐝𝐚𝐫 𝐘𝐞𝐚𝐫 𝐑𝐚𝐭𝐞𝐧, 𝐂𝐚𝐥𝐞𝐧𝐝𝐚𝐫 𝐘𝐞𝐚𝐫 𝐑𝐚𝐭𝐞𝐧+𝟏, 𝐂𝐚𝐥𝐞𝐧𝐝𝐚𝐫 𝐘𝐞𝐚𝐫 𝐑𝐚𝐭𝐞𝐧+𝟐) When running the calculation for the 2025 year, the resulting premium is 1.7 cents per kWh, which is a 13% increase over the current premium, 1.5 cents per kWh.

STRATEGIC PLAN
This solution is consistent with SVCE’s strategic plan, including:

Goal 2: Long-term, target for 100% clean energy annually by building a balanced portfolio with consideration for both affordability and reliability while exploring long-term pathways to clean power supply.

Goal 4: Acquire power supply resources in a cost-effective manner to meet legislative and regulatory obligations, Board directives and customer specific products.

ALTERNATIVES
The Board could choose not to approve the new methodology or premium. This will likely result in GreenStart customers subsidizing the GreenPrime premium.

FISCAL IMPACT
The proposed changes to GreenPrime are consistent with budgeted supply cost in the FY 25 Budget however if the rate premium is approved will result in an increase in revenues for FY 25.

ATTACHMENT

1. Presentation on topic to Executive Committee from 10/25/2024 meeting Item 1f
1 • Subtitle
New SV Clean Energy
PowerPoint Template
GreenPrime Product and
Rate Methodology
Approval
SVCE Executive Committee Meeting
October 25, 2024
Item 1f
Attachment 1
2 Request of Executive Committee
Recommend that the Board of Directors approve changes
to the GreenPrime (GP) program including:

1. Starting in 2025 reprice GP premium over GreenStart
to be based on updated methodology, balancing
portfolio renewable energy credit (REC) value with
marginal REC cost; and

2. Capping participation at 200 gigawatt hours per year and 20 GWh per customer per year
GreenPrime Rate to be finalized and recommended to the Board in November 2024
Item 1f
Attachment 1
3 Goals of Refreshing Product Offering

1. Establish longer-term roadmap with YOY RPS targets for GreenStart, and integrated GreenStart/GreenPrime RPS
sourcing needs

2. Update positioning of GreenPrime offering, and establish more certainty around future GreenPrime RPS needs

3. Plan for uncertainty in RPS deliveries, and future PPA COD dates

4. Establish updated methodology for valuing GreenPrime premium to avoid cross-subsidization and year-to-year price shocks
Acronyms:

YOY: Year-over-year, RPS: Renewable Portfolio Standard, COD: Commercial Operation Date Item 1f
Attachment 1
4 GreenStart & GreenPrime Product Offering:

Background and Progress on Future
GreenPrime History
• 100% RPS
• Solar and Wind
• Green-e Certified through
2023
• Voluntary
• Mix of Large Commercial
and Industrial (C&I),
Member Agencies,
Residential customers
• Rate Premium:
• 2017-2023: $0.008/kWh
• 2024: $0.015/kWh

1. Staff developed a long-term roadmap for
GreenStart (GS) and GreenPrime (GP)
through 2035

2. Offering driven by portfolio and diminishing
difference between GreenStart and
GreenPrime RPS level

3. GreenStart customers will not subsidize
GreenPrime

4. GreenPrime will benefit from portfolio, but
must rely on marginal RECs if needed to
fully source difference between GS and GP;
GreenStart gets greatest portfolio REC
benefit
Item 1f
Attachment 1
5 GreenStart & GreenPrime Product Offering:

Long Term Roadmap Through 2035
Product Roadmap
• Evaluate GreenStart (GS)
and GreenPrime (GP)
needs for the next
decade
• Projects GS achieves
100% annual RPS
starting 2035
• As we get closer to 2035,
GS becomes increasingly
renewable
• The value proposition of
GP changes over time

50.00%

54.00%

58.00%

62.00%

66.00%

70.00%

76.00%

82.00%

88.00%

94.00%
100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%

54.97%

58.91%

62.84%

66.75%

70.65%

74.54%

80.43%

86.31%

92.22%

98.13%
100.00%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

80.00%

90.00%
100.00%
2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
RPS Target % by Product
RPS Target - GS RPS Target - GP SVCE Overall RPS
Item 1f
Attachment 1
6 GreenPrime Product Offering:

Program Capped at 200 GWh per Year;
Equivalent to approx. 5% of Total Load in 2025
Enrollment
Requirements
• 200 GWh total load
• 20 GWh load per
customer
• Larger customers
interested in staying
100% RPS
encouraged to explore
a C&I deal
200
200
200
200
200
200
200
200
200
200
200
3,000
3,200
3,400
3,600
3,800
4,000
4,200
4,400
4,600
4,800
5,000
2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
GWh
SVCE Load Forecast through 2035
Retail Sales - GS + GPD Retail Sales - GP
Item 1f
Attachment 1
7 GreenPrime Product Offering:

GreenPrime may require marginal RPS
GreenPrime Supply
Requirements
• Portfolio RPS allocated to
GP not expected to exceed
GS RPS level
• Supply discounted by 15%
to account for uncertainty
• GP receives their load
share of Portfolio RPS
Example portfolio RPS to GP:
2000 GWh x 85% = 1700
1700 x 5% = 85 GWh that go
toward GreenPrime
200 - 85 = 115 GWh sourced
from marginal/market supply

Hypothetical SVCE RPS Portfolio
(GWh)

GreenPrime Supply Sources (GWh)

Item 1f
Attachment 1
8 GreenPrime Product Offering:

Rate Premium Based on Portfolio + Marginal RPS
Premium Methodology
• Weighted Average RPS Price
accounts for cost of RPS from
portfolio and from marginal
(market) supply
• Applied to the difference
between 100% RPS and the
GreenStart RPS level
• Gives GreenPrime portfolio
benefit, but does not cross-subsidize
• Formula applied on rolling 4-
year average to account for
prior year actual cost and
forward year estimates
𝑮𝒓𝒆𝒆𝒏𝑷𝒓𝒊𝒎𝒆 𝑷𝒓𝒆𝒎𝒊𝒖𝒎
= 𝟏𝟎𝟎% − 𝑮𝒓𝒆𝒆𝒏𝑺𝒕𝒂𝒓𝒕 𝑹𝑷𝑺 % 𝒙(𝑾𝒆𝒊𝒈𝒉𝒕𝒆𝒅 𝑨𝒗𝒆𝒓𝒂𝒈𝒆 𝑹𝑷𝑺 𝑷𝒓𝒊𝒄𝒆) 𝑮𝒓𝒆𝒆𝒏𝑷𝒓𝒊𝒎𝒆 𝑷𝒓𝒆𝒎𝒊𝒖𝒎
= 𝟏𝟎𝟎% − 𝑮𝒓𝒆𝒆𝒏𝑺𝒕𝒂𝒓𝒕 𝑹𝑷𝑺 % 𝒙 (𝑾𝒆𝒊𝒈𝒉𝒕𝒆𝒅 𝑨𝒗𝒆𝒓𝒂𝒈𝒆 𝑹𝑷𝑺 𝑷𝒓𝒊𝒄𝒆) = 𝟏𝟎𝟎% − 𝟓𝟎% 𝒙 $𝟔𝟎 − 𝟑𝟎
= 𝟓𝟎% 𝒙 $𝟔𝟎 − 𝟑𝟎
= 𝟓𝟎% 𝒙 $𝟑𝟎
= $𝟏𝟓 𝒑𝒆𝒓 𝑴𝑾𝒉 𝒐𝒓 $𝟎. 𝟎𝟏𝟓 𝒑𝒆𝒓 𝒌𝑾𝒉
-Illustrative Example-Item 1f
Attachment 1
9 Request of Executive Committee
Recommend that the Board of Directors approve changes
to the GreenPrime (GP) program including:

1. Starting in 2025 reprice GP premium over GreenStart
to be based on updated methodology, balancing
portfolio renewable energy credit (REC) value with
marginal REC cost; and

Page 1 of 3 ends

Staff Report – Item 1g
Item 1g: Authorize the Chief Executive Officer to Execute Agreements with Tenaska Power Services for Scheduling Coordination Services
From: Monica Padilla, CEO
Prepared by: Kris Van Vactor, Director of Power Resources Date: 11/13/2024

RECOMMENDATION
Staff recommends the Silicon Valley Clean Energy (SVCE) Board of Directors (Board) authorize the Chief Executive Officer (CEO) to execute the following agreements with Tenaska Power Services (TPS) for scheduling coordination (SC) and related services:

1. Scheduling Agent and Energy Management Services in the California Independent System Operator Market (Attachment 1) for an initial term through December 31, 2026 for an amount not to exceed $1,500,000, inclusive for this term. The contract has the ability to annually renew for an amount not to exceed $800,000 annually.

2. Letter Agreement for WAPA Base Resource Scheduling Services for a term not expected to exceed 12- months and an amount not to exceed $144,000.

Execution of the agreement will allow SVCE to schedule and consolidate all its Scheduling (SC) responsibilities with one vendor.

BACKGROUND
SVCE is a load serving entity (LSE) and a market participant in the California Independent System Operator (CAISO) balancing authority. As a participating LSE, SVCE must schedule all of its electric load, in hourly increments, and power supply resources into the CAISO. SVCE’s load and resources must be represented by a Scheduling Coordinator (SC) in the CAISO. Since its launch, SVCE has outsourced the SC function to a third-party vendor equipped with the software and systems necessary to meet the CAISO’s SC requirements, including staffing available on a 24x7 basis.

SVCE’s clean energy procurement strategy since its start has been to procure and integrate various technologies into CAISO markets to add value to SVCE’s energy portfolio. To date, SVCE has signed over 20 power purchase agreements directly, in partnership with Central Coast Community Energy (CCCE) and/or with California Community Power (CC Power). These agreements support SVCE’s clean energy goals, while also enhancing grid reliability and/or meeting procurement mandates.

The SC service allows for resources to be commercially viable in CAISO’s balancing authority by scheduling those resources into the Day-ahead and Real-time markets and receiving revenue for the attributes that are sold to those markets. Currently SVCE has 3 resources that are contractually required to be managed by an SC of SVCE’s choosing.

In addition to resource scheduling, the SC service is necessary to schedule all electric load demand and other supply resource types like Inter-SC Trades (ISTs), Imports and Exports in/out of the CAISO balancing authority and manage SVCE’s portfolio of Congestion Revenue Rights (CRRs).

Item 1g
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 1g Agenda Date: 11/13/2024

Page 2 of 3 ends

ANALYSIS & DISCUSSION
In April of 2023, SVCE along with CCCE issued a Request for Information (RFI) to provide SC Services for the fleet of resources both agencies have under contract. Specifically, the RFI was looking for information on the ability of the marketplace to provide SC Services that supported specific functions including but not limited some short-term planning capability, day-ahead scheduling capability and a robust real-time team with a Supervisory Control and Data Acquisition system that has schedule deviation alarming capability.

In all, the RFI was sent to eight market participants. The agencies received information from five companies, of which three were selected to provide final proposals. In June 2023 a Request for Proposal (RFP) was issued, all three participants were interviewed and in July TPS was selected as the most competitive proposal.

SVCE previously sought and received Board approval of an agreement with TPS at the March 13, 2024 Board Meeting to provide SC services primarily for generation resources, which is only a portion of SVCE’s portfolio.

Subsequently, staff negotiated an agreement with TPS to cover load scheduling and all other SC functions including congestion revenue requirement (CRR) management, inter-schedule trade (IST) scheduling, and import/export scheduling.

As part of the implementation plan, SVCE will enter into the Scheduling Agent and Energy Management Services agreement which will be implemented in the next several months, with completion expected in the first quarter of 2025. Starting Jan 1, 2025, SVCE will need to start scheduling for its Western Base Resource contract, which requires the Letter Agreement to cover a limited set of scheduling responsibilities that TPS will carry out which will eventually be superseded by the Scheduling Agent and Energy Management Services agreement.
•RFI Released
•Shortlist for RFP created April-June 2023
•RFP released
•Vendor selected June-July 2023
•Contract Negotiations on Generation SC Agreement August-March 2023-24 •BOD Approval
•Contract Execution March 2024
•Implementation of Generation Agreement
•Commencement of Load Agreement Negotiations April 2024-June2024 •Load Agreement Negotiations July2024-Nov2024
•BOD Approval
•Contract Execution Nov 2024
•Implement Load Agreement Dec2024-Q1 2025
Item 1g
Agenda Item: 1g Agenda Date: 11/13/2024

Page 3 of 3 ends

Vendor
Established in 1997, TPS is a Federal Energy Regulatory Commission (FERC)-certified power marketing company engaged in the buying and selling of wholesale and retail power and the provision of power marketing and energy management services throughout the United States. With a 200+ person staff headquartered in Irving, Texas, TPS focuses on providing energy management solutions to third-party customer generation assets and retail and wholesale load in various markets including the California Independent System Operator (CAISO), Western Electricity Coordinating Council(WECC), Electric Reliability Council of Texas (ERCOT), Southeast Reliability Council (SERC), Midcontinent Independent System Operator (MISO), Southwest Power Pool (SPP), Pennsylvania New Jersey Maryland Interconnection (PJM), New York Independent System Operator (NYISO), and Independent System Operator of New England (ISONE).

STRATEGIC PLAN
Execution of the TPS-SVCE SC agreement supports SVCE’s Strategic Plan as follows:

Goal 5: Manage and optimize load and power resources to meet affordability, GHG reduction and reliability objectives.

ALTERNATIVES
Do not authorize the CEO to execute the agreement with TPS and, instead, use existing SC to manage load in the CAISO market. Staff does not recommend this alternative. Staff sought SC services to incrementally improve operations and not executing this agreement would risk that improvement. Additionally, while this is a critical function it would be costly to bring many of these functions in house. At some point SVCE may choose to hire staff and procure tools to do this work and will undertake an assessment of the merits.

FISCAL IMPACT
Ultimate execution of the agreement will result in costs to SVCE starting in Fiscal Year (FY) 2024-25, which have been included in the Board-approved FY 2025 operating budget. Staff’s spending authority over the term of the contract will be limited to the amount $1,500,000. Annual renewals, which will start in calendar year 2027 and will be to $800,000.

ATTACHMENTS

1. TPS-SVCE Agreement for Scheduling Agent and Energy Management Services

2. TPS-SVCE Letter Agreement for WAPA Base Resource Scheduling Services Item 1g
Execution Version
1 AGREEMENT TO PROVIDE SCHEDULING AGENT AND ENERGY MANAGEMENT SERVICES This Agreement to Provide Scheduling Agent and Energy Management Services (“Agreement”) is executed on November __, 2024 (“Effective Date”) between Silicon Valley Clean Energy Authority, a California joint powers authority (“SVCE”) and Tenaska Power Services Co. (“TPS”), a Nebraska corporation. SVCE and TPS are also hereinafter referred to in this Agreement individually as “Party” and collectively as the “Parties”.

This Agreement consists of and is governed by the Base Agreement and the General Terms and Conditions attached hereto, together with attached exhibits incorporated by reference in this Agreement.

RECITALS
WHEREAS, SVCE, directly or indirectly owns, controls and/or has power purchase and energy storage agreements (“PPAs”) with generating facilities located within the CAISO and WECC markets as described further in Exhibit A hereto (the “Resource(s)”), participates in the CAISO markets, and has the obligation to provide electric service to Load within the Service Areas identified in Exhibit A hereto (the “Service Areas);
WHEREAS, TPS is in the business of providing Scheduling Agent Services to qualified Scheduling Coordinators in CAISO and providing Energy Management Services, including scheduling Energy, Load, Capacity, Ancillary Services, and managing Congestion Revenue Rights through the markets operated by CAISO;
WHEREAS, SVCE has established itself as a qualified Scheduling Coordinator with CAISO; and
WHEREAS, TPS desires to perform Scheduling Agent, Energy Management Services and other Services for SVCE, and SVCE desires TPS to provide such Services, in each case, on the terms and conditions as set forth herein;
NOW, THEREFORE, SVCE and TPS enter into this Agreement under which TPS shall provide SVCE with the Services and shall serve as the Scheduling Agent for SVCE as described herein. In consideration of the premises, together with other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each Party, SVCE and TPS agree as follows:

BASE AGREEMENT

1. DESIGNATION
Except as provided in this Section 1, no Party will be an agent, partner, joint venturer, or legal representative of any other Party for any purpose whatsoever, and no Party is authorized to assume or create any obligation, liability, or responsibility, expressed or implied, on behalf of or in the name of any other Party, or to bind any other Party to any Third Party in any manner whatsoever; provided, however, that SVCE authorizes TPS to act, and TPS agrees to act, subject to the terms of this Agreement, as SVCE’s exclusive provider of the Services for the Load, Resources, and Transactions related thereto. The Parties shall conduct their respective duties, obligations, and operations related to this Agreement in accordance with the terms of this Agreement, the Governing Rules, and Prudent Industry Practice.

Item 1g
Attachment 1
Execution Version
2 The relationship of SVCE, on the one hand, with TPS, on the other hand, as set forth in this Agreement is one of an independent contractor.

2. LOAD FORECASTING AND RESOURCE SCHEDULING AGENT SERVICES

2.1 SVCE SCID. SVCE represents and warrants that it is a registered Scheduling Coordinator under the CAISO Tariff, and, as a condition precedent to TPS’s obligation to provide the Services herein, SVCE shall maintain its own Scheduling Coordinator ID Code (“SCID”) throughout the term of this Agreement.

2.2 Scheduling Agent. SVCE grants TPS the exclusive right to serve as Scheduling Agent for SVCE’s SCID. TPS will perform all functions required or reasonably necessary in order to represent SVCE’s SCID and will be the single point of contact for all communications with CAISO pertaining to SVCE’s SCID during the Term of this Agreement. In such capacity, TPS will timely submit to CAISO information provided by SVCE regarding its Load obligations, and, as soon as practicable, inform SVCE of any and all CAISO directives or instructions affecting such obligations. If such CAISO directives or instructions require a response or other action by SVCE, TPS shall provide notice to SVCE as soon as practicable and shall respond to CAISO directives and instructions in accordance with the Governing Rules.

2.3 Scheduling. As SVCE’s Scheduling Agent, TPS will provide, and SVCE grants TPS the authority to perform, all required and reasonably necessary scheduling services for or related to SVCE’s Resources listed in Exhibit A and Load obligations within the Service Areas, including but not limited to scheduling all Transactions with the appropriate Third Parties, transmission providers, and balancing authorities and, as applicable, scheduling SVCE’s Inter-SC Trades, in each case, in accordance with this Agreement and the Governing Rules. SVCE will provide TPS all information relevant to or required by the Governing Rules in order to satisfy all relevant data and information required for participation in the CAISO markets. If the TPS Customer Portal is available, SVCE will utilize it to communicate desired Energy and Ancillary Services schedules for the DAM and Real-Time FMM scheduling cycles. If the TPS Customer Portal is not available, a TPS developed scheduling spreadsheet template will be submitted by SVCE for the DAM and all Real-Time FMM scheduling cycles. TPS will provide, and SVCE grants TPS the authority to perform, scheduling services for the Resources in the role of SVCE’s Scheduling Agent in accordance with (i) the Governing Rules, (ii) Prudent Industry Practice, and (iii) instructions from SVCE. As part of its Scheduling Agent responsibilities under this Agreement, TPS will submit all Energy and Ancillary Services Bids consistent with the rules and regulations of CAISO and the directions of SVCE. TPS will schedule all output from the Resources consistent with each Resource’s operational and economic parameters as communicated to TPS by SVCE. Such information will be provided to TPS in a mutually agreed upon format and in those time increments, quantities, duration, and terms as required by the Governing Rules.

Each component of SVCE’s Bids (collectively and individually) shall, when provided to TPS, be in a form intended to satisfy the requirements of the Governing Rules. If TPS discovers that SVCE’s Bids conflict with the requirements of the Governing Rules, TPS shall immediately notify SVCE thereof and shall coordinate with SVCE to modify SVCE’s Bids to comply with such requirements. If Bids cannot be modified, then TPS will have the right to reject SVCE’s Bids to remedy any conflict therewith, and shall immediately notify SVCE thereof. SVCE will provide or make available to TPS all Bid information using the format, software, and communication format and specifications, and other technical criteria mutually agreed between the Parties. SVCE will provide TPS with the necessary information at least two (2) hours prior to any applicable deadline specified under the Item 1g
Attachment 1
Execution Version
3 Governing Rules. SVCE may, in lieu of providing specific Bids to TPS, provide TPS specific procedures and operating rules to be used by TPS to generate all or a portion of the Bids. If SVCE does so, then TPS shall generate Bids in accordance with such procedures and operating rules and submit such Bids to the applicable CAISO markets in accordance with the Governing Rules.

2.4 Schedule Changes. Notwithstanding Section 2.3, SVCE may change any information previously provided to TPS, provided any such change is provided to TPS in a mutually agreed upon format no later than any applicable deadline specified under the Governing Rules. Provided that SVCE provides any such change(s) in accordance with such deadlines, TPS will use commercially reasonable efforts to timely implement any such change(s). In the event that any change timely provided to TPS differs from prior information for the same time period, such subsequent information, upon receipt by TPS, shall supersede the prior information, and TPS will rely upon and implement the most recent information when submitting such information to CAISO for SVCE. TPS shall promptly notify SVCE if it is unable to implement any change(s) provided by SVCE pursuant to this Section 2.4.

2.5 24-Hour Monitoring. For Products delivered from the Resources to CAISO, TPS will administer and monitor CAISO transactions. TPS will provide SVCE with access to the CAISO Energy markets (including, without limitation, the Capacity bilateral markets) and the Services twenty-four (24) hours per Day, seven (7) Days per week, subject to market availability. TPS will timely communicate with CAISO regarding the Resources and, as soon as practicable, inform SVCE of any and all CAISO directives or instructions affecting the Resources.

2.6 Load Forecasting Services. Except as otherwise provided in this Agreement, TPS will develop or cause to be developed an hourly weather-adjusted forecast of the Energy required to serve SVCE’s Load within the Service Areas for each successive fourteen (14) Day period (the “Load Forecast”); provided that SVCE first supplies TPS (in a mutually agreed upon format) with at least two years, and, if available, up to five years of historic hourly Demand data of the Load within the Service Areas. (a) The Load Forecast will be refreshed on a daily basis using available hourly Demand data, or, in TPS’s discretion, more frequently, and made available to SVCE, through a mutually agreed upon format and data transfer process. The Load Forecast shall represent expected aggregate Energy consumption across all End-Use Customer types at each Load Aggregation Point where SVCE submits hourly Demand Bids within the Service Areas.
(b) TPS will monitor Load Forecast performance, provide ongoing information on Load Forecast error, and make periodic adjustments to the Load Forecast model, including at the reasonable request of SVCE, in an effort to enhance accuracy. (c) TPS will make adjustments to the Load Forecast model as necessary to account for Load migration and/or mass enrollment for new Service Areas. Should the addition of new Service Areas or the makeup of Load additions materially change the character of SVCE’s prior Demand and thus the Load Forecast accuracy, additional and/or distinct models for End-Use Customer classes may be required. Should this occur, TPS and SVCE agree to work in good faith to agree upon necessary changes to the Load Forecast model and negotiate an appropriate adjustment to fees, if any, along with any necessary adjustments to Exhibit A.
(d) SVCE may request, and TPS may agree, to utilize a Third Party vendor to supplement Item 1g
Attachment 1
Execution Version
4 or replace TPS’s Load Forecasting Services, and/or TPS may utilize the services of a Third Party vendor (which is currently anticipated to be TESLA, Inc.) for purposes of providing the Load Forecasting Services described herein. For the avoidance of doubt, SVCE will reimburse TPS for the cost of either such Third Party’s service as a Pass Through Amount.
(e) After the Initial Term, SVCE may opt out of the Load Forecasting Services described above by providing written notice to TPS no later than one hundred eighty (180) Days prior to the expiration of the Initial Term or any Renewal Term (as applicable) (any such opt-out period, the “SVCE Load Forecasting Period”), provided that, for any Renewal Term in which SVCE has opted out of the Load Forecasting Services described above, SVCE may elect for TPS to resume the Load Forecasting Services effective upon the next successive Renewal Term by providing written notice to TPS no later than one hundred eighty (180) Days prior to the expiration of the then-current Renewal Term. During the SVCE Load Forecasting Period, the Load Forecasting Scheduling Agent Services Monthly Fee specified in Section 5.2 of the Base Agreement shall be reduced by five hundred Dollars ($500).

2.7 Shadow Settlement. Under the SVCE SCID, SVCE will receive all payments from, and make all payments to, CAISO. In order to permit TPS to perform the functions described in this Section 2.7, SVCE (i) authorizes TPS to receive from CAISO historic and real time data collected by CAISO from, or provided to CAISO by SVCE, and (ii) shall share with TPS, or authorizes TPS to request from CAISO, those CAISO Settlement Statements related to the Load SVCE serves in the Service Areas during the Term of this Agreement.

Provided TPS is given access to such Settlement Statements, TPS will use its proprietary data management and calculation engine, proprietary PowerTools Platform®© (“PTP”®), to shadow settle all such Settlement Statements. TPS will analyze discrepancies found between TPS’s internally generated Settlement Statements and CAISO’s Settlement Statements. Upon TPS’s request, SVCE will provide TPS with such data as is reasonably necessary to allow TPS to further investigate any such discrepancies. If, upon receiving TPS’s analysis, SVCE determines to proceed with any dispute related to any such discrepancies, TPS will provide SVCE with the services described in Section 6.2 of the General Terms and Conditions with regard to any such dispute. TPS will also review all additional CAISO Settlement Statements to verify CAISO has made changes requested by TPS on behalf of SVCE to prior Settlement Statements and to verify the accuracy of any additional CAISO charges and credits.

2.8 Support Services. The Parties acknowledge and agree that TPS will be unable to commence providing the Services contemplated by this Agreement until all necessary registrations, acknowledgements, agreements and other documentation (“Documentation”) have been provided to and approved by CAISO to enable TPS to commence providing the Services. The period of time from the Effective Date of this Agreement until the Commencement Date is defined as the “Support Services Period”.

During the Support Services Period, SVCE and TPS shall each work diligently to ensure that all necessary Documentation is completed and necessary CAISO approvals are obtained expeditiously. Each Party shall notify the other Party of the completion of all necessary Documentation and approvals as soon as reasonably practicable. Subject to the terms of this Agreement and starting on the Effective Date, TPS shall provide to SVCE the services necessary to ensure the commencement of the Services, as such services are described in Exhibit C hereto (the “Support Services”). All Services under this Agreement (other than Support Services) will commence on the Commencement Date.

2.9 Outage Reporting. TPS will provide Outage scheduling services to SVCE, which will consist solely of relaying to CAISO, in such electronic data transmission format as is Item 1g
Attachment 1
Execution Version
5 authorized by CAISO for the transmission of Outage information, all information furnished to TPS by SVCE concerning the Resources’ Outages and relaying to SVCE in a timely manner all electronic data received from CAISO concerning Outages at the Resources.

TPS will transmit each Resource’s Outage data to CAISO within time periods specified for the transmission of such data under the CAISO Agreements. SVCE shall be responsible for furnishing such data required by the CAISO Agreements to TPS in sufficient time to permit TPS to comply with applicable requirements of the CAISO Agreements. If TPS’s Customer Portal is available, SVCE will utilize it to communicate Outage information.

Otherwise, SVCE shall provide the information to TPS in a template provided by TPS.

3. CONGESTION REVENUE RIGHTS PORTFOLIO MANAGEMENT
Utilizing the SVCE CRR Account and SVCE SCID, TPS will manage the annual and monthly CRR processes on behalf of SVCE in accordance with the attached Exhibit D.

SVCE will meet any CAISO-imposed collateral requirements for the SVCE CRR account, including any continuing requirements for collateral arising from CRRs held in the SVCE CRR account, and SVCE shall directly exchange payments with CAISO for all Settlement Statements pertaining to the SVCE CRR account.

4. RESERVED

5. PAYMENTS

5.1 Set-Up Fee. TPS shall charge SVCE a one-time fee for establishing and configuring the telemetry and other communication equipment and software linking the Resources and Load within the Service Areas to TPS (and to CAISO where applicable) and for provision of the Support Services described in Exhibit C (“Set-Up Fee”). The Set-Up Fee shall equal to twenty-five thousand Dollars ($25,000) for the Resources and Load within the Service Areas identified in Exhibit A. Any Resources, Load, and/or Service Areas which SVCE may request to be added to this Agreement after the Effective Date shall be subject to TPS’s approval, and an additional Set-Up Fee negotiated between the Parties, which shall be reflected in an amendment to this Agreement.

5.2 Load Forecasting and Resource Scheduling Agent Services Monthly Fee. (a) Load Forecasting Scheduling Agent Services Monthly Fee. For performance of the Load Forecasting and Scheduling Agent Services described herein, SVCE shall pay TPS a Monthly fee equal to fifteen thousand Dollars ($15,000) (“Load Forecasting Scheduling Agent Services Monthly Fee”) in arrears and prorated for any partial Month of Service, beginning on the Commencement Date and continuing throughout the Term, subject to the five hundred Dollar ($500) per Month reduction for each SVCE Load Forecasting Period as further described in Section 2.6(e) of the Base Agreement; provided that the Load Forecasting Scheduling Agent Services Monthly Fee shall increase by the Escalator on the first Day of the Month of each anniversary of the Commencement Date.
(b) Resource Scheduling Agent Services Monthly Fee. For performance of the Resource Scheduling Agent Services described herein, SVCE shall pay TPS a Monthly fee equal to the rates set forth for each Resource in Exhibit A (“Resource Scheduling Agent Services Monthly Fee”) in arrears and prorated for any partial Month of Service, beginning on the Commencement Date and continuing through the Term; provided that the Resource Scheduling Agent Services Monthly Fee shall increase by the Item 1g
Attachment 1
Execution Version
6 Escalator on the first Day of the Month of each anniversary of the Commencement Date.

5.3 CRR Monthly Service Fee. For performance of the CRR Portfolio Management Services described herein, SVCE shall pay TPS a Monthly fee equal to ten thousand Dollars ($10,000) (“CRR Monthly Service Fee”), beginning with the Month in which the CRR Portfolio Management Services begin and continuing throughout the Term. The CRR Monthly Service Fee shall increase by the Escalator on the first Day of the Month of each anniversary of the Commencement Date.

5.4 Pass Through Amounts and Reimbursements. Except when specified otherwise under this Agreement, SVCE shall pay TPS all Pass Through Amounts incurred by TPS; provided that, notwithstanding anything to the contrary, no amounts shall be recovered twice pursuant to this Agreement.

5.5 Fees for Other Products or Services. The Parties agree to negotiate in good faith an amendment to this Agreement to include appropriate fees for services other than the Services set forth herein.

6. TERM

6.1 All Services and the obligation to pay fees under this Agreement, other than the Support Services and the Set-Up Fee, respectively, shall be effective as of the Commencement Date unless provided otherwise in this Agreement. All other terms, provisions, and obligations, including the Support Services, the Set-Up Fee, and associated Pass Through Amounts, shall be effective as of the Effective Date of this Agreement. This Agreement shall have a primary term beginning on the Commencement Date and expiring at 11:59:59 p.m. PPT on December 31, 2026 (the “Initial Term”). Upon expiration of the Initial Term, this Agreement shall then automatically renew and extend for successive one (1) year terms (each a “Renewal Term”) unless either Party provides written notice of non-renewal to the other Party no later than one hundred eighty (180) Days prior to the expiration of the Initial Term or any Renewal Term (as applicable).

6.2 Transition of Services.
(i) If an Event of Default or Force Majeure occurs and is continuing with respect to TPS, TPS shall cooperate in good faith with SVCE and promptly execute all documents and take all other reasonable steps requested by SVCE that may be required or reasonably necessary to transition the Services from TPS to SVCE’s designee. Without limiting the generality of the foregoing, TPS hereby agrees that SVCE has the power and right, without notice to or assent by TPS, upon the occurrence and during the continuation of any Event of Default or Force Majeure (or any other event that pursuant to the express provisions hereof allows SVCE to replace TPS as SVCE’s provider of the Services), to execute all documents and take all other reasonable steps which may be required or reasonably necessary to transition the Services from TPS to SVCE’s designee. TPS agrees that any request by SVCE that TPS take any action pursuant to this Section 6.2, and any action taken by SVCE pursuant to this Section 6.2, shall not constitute a breach of any obligation in this Agreement that TPS be the exclusive provider of any Services. Subject to Sections 11 and 13 of the General Terms and Conditions, to the extent an Event of Default or Force Majeure with respect to TPS ceases to exist and this Agreement has not been terminated, then the Parties will work together in good faith to promptly transition the Services from Customer’s designee back to TPS. This Section 6.2 shall survive the expiration or earlier termination of Item 1g
Attachment 1
Execution Version
7 this Agreement.
(ii) If TPS ceases to be provider of the Services due to the expiration or earlier termination of this Agreement or any other reason, or if TPS is performing the Services solely pursuant to the application of Section 6.3 of the Base Agreement, TPS shall cooperate with SVCE’s requests to transition the Services hereunder (including executing any consents or documents and taking all other steps as may be required under the CAISO Agreements or as SVCE may otherwise reasonably request to remove TPS as SVCE’s provider of the Services), and SVCE shall be responsible for notifying CAISO, the CPUC, and any Third Parties, as applicable, involved or relating to this Agreement, of the removal of TPS as SVCE’s provider of the Services. In the event that, after the expiration or earlier termination of this Agreement, TPS receives statements or invoices from CAISO or other Third Parties related to SVCE or pertaining to the Resources, Load or any Transactions, TPS shall pass through charges reflected in those statements or invoices to SVCE and SVCE shall be responsible for payment. This Section 6.2 shall survive termination of this Agreement.

6.3 Notwithstanding anything to the contrary in any provision of this Agreement, but without limiting the Parties’ obligations under Section 6.2 of the Base Agreement, if, on the date this Agreement would expire or otherwise terminate, CAISO’s system still recognizes TPS as SVCE’s Scheduling Agent, then the Term of this Agreement shall be deemed to continue (and the terms of this Agreement shall survive) until the date that CAISO confirms in its system that TPS is no longer SVCE’s Scheduling Agent.

6.4 Termination for Performance. If at any time a Party believes the performance of the other Party under this Agreement is deficient, such Party has the right to provide the other Party with written notice of the performance deficiency, along with a description of the performance deficiency (“Notifying Party”). Upon receipt of such notice of performance deficiency, the Party receiving notice (“Notified Party”) shall have thirty (30) Days to correct such performance deficiency and within seven (7) Days from receipt of the notice to provide a written description to the Notifying Party of the remedial actions taken or to be taken to restore or improve the quality of performance, including by addressing the areas of performance identified in the notice. If the Notified Party fails within such thirty (30) Days to restore the quality of performance to a level deemed satisfactory to the Notifying Party in such Party’s reasonable discretion, such Party shall have the right, following expiration of the thirty (30) Day remediation period, to terminate this Agreement by providing thirty (30) Days’ written notice to the Notified Party and designating a termination date (“Termination for Performance”). Within thirty (30) Days following the effective date of any such Termination for Performance, each Party will pay to the other Party the sum of all amounts that are owed for activity performed prior to such effective date, but no additional termination fee will be owed. For the avoidance of doubt, (a) the rate or amount of fees for Services payable under Section 5 of the Base Agreement or (b) the experience of lower than desired revenues received by SVCE for sales of Products where such lower revenues result from general market conditions, rather than caused by the performance of a Party, shall not be grounds for invoking a Termination for Performance. The obligations in this Section shall survive the expiration or earlier termination of this Agreement.

6.5 For the avoidance of doubt, from and after the Effective Date and for the duration of the Term, no Party shall have any right to terminate this Agreement early or otherwise exercise a non-renewal of this Agreement except to the extent expressly permitted under the terms of this Agreement or as otherwise mutually agreed by the Parties in writing.

Item 1g
Attachment 1
Execution Version
8 WITNESS that the Parties have executed this Agreement effective as of the Effective Date.

SILICON VALLEY CLEAN ENERGY
By: _________________________________
Name: _Monica Padilla_________________
Title: _____CEO_______________________

APPROVED AS TO FORM
By: _________________________________
Name: _Michael Callahan_______________
Title: __General Counsel________________
TENASKA POWER SERVICES CO.

By: _________________________________
Name: Kevin R. Smith
Title: President
Item 1g
Attachment 1
Execution Version
9 GENERAL TERMS AND CONDITIONS
SECTION 1

DEFINITIONS
As used in this Agreement and any amendments hereto, and in addition to other terms elsewhere defined in this Agreement, each of the following terms shall have the indicated meanings; provided, however, capitalized terms not otherwise defined herein shall have the same meanings defined in the Governing Rules.
“Affected Party” shall have the meaning given that term in Section 8.3 of the General Terms and Conditions.
“Affiliate” shall mean, with respect to any Person, (i) any other Person, directly or indirectly, controlling, controlled by, or under common control with such Person, or (ii) any other Person under the joint control, directly or indirectly, of such Person. As used in this definition, the term “control” and similar terms shall mean the ownership of more than fifty percent (50%) of the voting securities of such Person or the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, through ownership of voting securities, by contract or otherwise.
“Agreement” shall have the meaning assigned to such term in the preamble of this Agreement. “Ancillary Services” shall have the meaning given that term in the CAISO Agreements. “Applicable Laws” shall mean any act, statute, law, regulation, permit, license, ordinance, rule, judgment, order, decree, directive, guideline, or policy (to the extent mandatory) or any similar form of decision or determination by, or any interpretation or administration of, any of the foregoing by any Governmental Authority with jurisdiction over the Load within the Service Areas, TPS, SVCE, or the Services to be performed under this Agreement. “Assessments” shall have the meaning set forth in Section 8.3 of the General Terms and Conditions.
“Bid” shall have the meaning given that term in the CAISO Agreements. “Business Day” shall mean any Day other than a Saturday, Sunday, or Day on which Federal Reserve member banks in New York are closed for business. “Business Hours” shall mean the consecutive hours from 8:00 a.m. to 5:00 p.m. Central Prevailing Time on Business Days.
“CAISO” shall mean the California Independent System Operator Corporation or any successor thereto.
“CAISO Agreements” shall mean CAISO Tariff, CAISO Business Practice Manuals and any other applicable CAISO bylaws, procedures, rules, manuals or documents, or any successor, superseding or amended versions thereof that may take effect from time to time. “CAISO Business Practice Manuals” shall mean the Business Practice Manuals published by CAISO, as amended, restated, supplemented, or otherwise modified from time to time. “CAISO Tariff” shall mean the California Independent System Operator Corporation Fifth Replacement FERC Electric Tariff, effective April 1, 2022, as amended from time to time, including Item 1g
Attachment 1
Execution Version
10 any schedules, appendices or exhibits attached thereto or any replacement CAISO Tariff, as amended from time to time.
“Capacity” shall mean any capacity used to meet reliability requirements or the ability to generate and provide or deliver a Product, and includes the meaning defined in the Governing Rules. “Claiming Party” shall mean the Party claiming inability to perform contract obligations by reason of a Force Majeure event under Section 13.1 of the General Terms and Conditions. “Commencement Date” shall mean the later of (i) the Effective Date, or (ii) the date upon which TPS receives notice that CAISO authorizes TPS to commence representing SVCE as Scheduling Agent for the purposes described herein.
“Central Prevailing Time” or “CPT” shall mean standard time or daylight saving time, as applicable to the central time zone of the United States. “Confidential Information” shall have the meaning given that term in Section 14.1(a) of the General Terms and Conditions.
“Congestion Revenue Rights” or “CRR” shall have the meaning given that term in the CAISO Agreements.
“CPUC” shall mean the California Public Utilities Commission (or any successor thereto that regulates public utilities in California).
“Credit Exposure” shall mean the net amount one Party would owe the other Party if all Transactions and Services between the Parties under this Agreement were closed out and terminated, and all obligations under this Agreement were accelerated and netted against amounts the other Party would owe such Party on the date of credit calculation to derive the amount of credit exposure faced by one Party to the other Party or a Third Party. This calculation will include amounts owed for delivered Services whether billed or unbilled, under this Agreement. “Credit Support” shall mean cash, pre-payments, letters of credit, and, if acceptable to the requesting Party, may include guarantees or other reasonable forms of security. “CRR Auction” shall have the meaning given that term in the CAISO Agreements. “CRR Monthly Service Fee” shall have the meaning given that term in Section 5.3 of the Base Agreement.
“CRR Portfolio Management Services” shall mean those Services described in Section 3.1 of the Base Agreement.
“Damages Cap” shall have the meaning given that term in Section 10.2 of the General Terms and Conditions.
“Daily Schedule” has the meaning given that term in Section 3.2 of the General Terms and Conditions.
“Day” shall mean a calendar day.
“Day-Ahead” has the meaning given that term in the CAISO Agreements. “Day-Ahead Market” or “DAM” has the meaning given that term in the CAISO Agreements.

Item 1g
Attachment 1
Execution Version
11 “Defaulting Party” shall have the meaning given that term in Section 11.2 of the General Terms and Conditions.
“Delivery Point” shall mean the physical point(s) where SVCE delivers Products, which in a typical Transaction shall be the point(s) at which the electric interconnection facilities utilized to meter and financially settle the delivery of Products from the Resources, meet with the high voltage side of the physical interconnection between the Resources and the applicable transmission service provider. For a specific Transaction, the Parties may agree to any Delivery Point that is a defined point at which financial settlement may occur within the CAISO region. “Demand” shall have the meaning given that term in the CAISO Agreements. “Demand Bid” shall have the meaning given that term in the CAISO Agreements. “Documentation” shall have the meaning set forth in Section 2.8 of the Base Agreement. “Due Date” shall mean the tenth (10th) Day after SVCE’s receipt of TPS’s invoice; provided, however, if such Day is not a Business Day, the next Business Day. “Effective Date” shall have the meaning given in the Preamble of the Agreement. “End-Use Customer” shall have the meaning given that term in the CAISO Agreements. “Energy” shall have the meaning given the term in the CAISO Agreements. “Energy Imbalance Market” or “EIM” has the meaning given the term in the CAISO Agreements. “Escalator” shall equal the greater of (i) the percentage change in the Consumer Price Index for Urban Areas or “CPI-U” published by the U.S. Department of Labor and applicable for the twelve (12) consecutive Months ending prior to the first Day of the Month in which the Commencement Date occurs each year during the Term, from the annual average CPI-U prevailing for the prior twelve (12) consecutive Month period, or (ii) two percent (2.0%). “Event of Default” shall have the meaning set forth in Section 11.1 of the General Terms and Conditions.
“FERC” shall mean the Federal Energy Regulatory Commission or any successor thereto. “Fifteen-Minute Market” or “FMM” has the meaning as defined in the CAISO Agreements. “Force Majeure” shall have the meaning set forth in Section 13.1 of the General Terms and Conditions.
“Governing Rules” shall mean all applicable CAISO Agreements and any applicable rules and/or directives of CAISO, the CPUC, NERC, FERC or any successor thereto, as the same may be amended from time to time.
“Governmental Authority” shall mean any federal, state or local government, court of competent jurisdiction, administrative agency or commission or other governmental or regulatory instrumentality, agency, authority or authorized arbitral body thereof, including without limitation, CAISO, FERC, the CPUC and the NERC.

Item 1g
Attachment 1
Execution Version
12 “Imaged Agreement” shall have the meaning set forth in Section 16.12 of the General Terms and Conditions.
“Initial Term” shall have the meaning set forth in Section 6.1 of the Base Agreement. “Interest Rate” shall mean, for any date, the lesser of (i) the per annum rate of interest equal to the “Prime Rate” as may from time to time be published in The Wall Street Journal under “Money Rates” on such Day (or if not published on such Day, on the most recent preceding Day on which published), plus two percent (2%) or (ii) the maximum rate permitted by Applicable Law. “Inter-SC Trade” or “IST” shall have the meaning given that term in the CAISO Agreements. “Load” shall have the meaning given that term in the CAISO Agreements. “Load Aggregation Point” shall have the meaning given that term in the CAISO Agreements. “Load Forecast” shall have the meaning set forth in Section 2.6 if the Base Agreement. “Load Forecasting and Scheduling Agent Services” shall mean those Services described in Sections 2.2 through 2.7 of the Base Agreement.
“Load Forecasting Scheduling Agent Services Monthly Fee” shall have the meaning given that term in Section 5.2(a) of the Base Agreement.
“Material Adverse Change” shall mean, with respect to a Party, or the Tenaska Guarantors, as applicable, the occurrence of one or more events which, in the commercially reasonable judgement of the other Party, constitutes a material adverse change in the creditworthiness, financial liquidity, access to capital, financial responsibility or ability of the Party or the Tenaska Guarantors to perform their obligations under this Agreement or the Tenaska Guaranty, as applicable.
“Month” shall mean a calendar month.
“Monthly CRR Eligible Quantity” or “MEQ” shall have the meaning given that term in the CAISO Agreements.
“NERC” shall mean the North American Electric Reliability Corporation or any successor thereto. “Non-Defaulting Party” shall have the meaning set forth in Section 11.2 of the General Terms and Conditions.
“Non-Impaired Party” shall have the meaning set forth in Section 13.4 of the General Terms and Conditions.
“Notified Party” shall have the meaning set forth in Section 6.4 of the Base Agreement. “Notifying Party” shall have the meaning set forth in Section 6.4 of the Base Agreement. “Operating Day” shall have the meaning given the term in the CAISO Agreements. “Outage” shall have the meaning given the term in the CAISO Agreements and shall also include any Forced Outage, Approved Maintenance Outage, Maintenance Outage (as each such term is defined in the CAISO Agreements), or decrease in capacity or output at the Resource, whether Item 1g
Attachment 1
Execution Version
13 or not caused by an event of Force Majeure, resulting in interruption, curtailment, reduction, or cessation of the production or provision of Products from the Resource. “Pacific Prevailing Time” or “PPT” shall mean the standard time or daylight savings time, as applicable to the Pacific time zone of the United States. “Party” or “Parties” shall have the meaning set forth in the Recitals. “Pass Through Amounts” shall mean, without duplication, all actual, direct Third Party costs incurred by TPS; all charges assessed against TPS by CAISO or any other Governmental Authority and payable by TPS; all credits received by TPS from CAISO; and, to the extent expressly stated to be a Pass Through Amount herein, amounts payable to any other Third Party; provided, in each case, that such costs and charges are directly allocable to TPS’s performance of the Services in accordance with the terms of this Agreement and are directly allocable to Services performed for the Load, excluding TPS’s cost of (i) providing any Credit Support to SVCE; (ii) any credit support provided to CAISO; (iii) doing business in CAISO generally; or (iv) doing business generally. Except with respect to Pass Through Amounts related to CAISO, transmission costs, any charges assessed or imposed by any Governmental Authority, and any Pass Through Amounts expressly authorized herein, TPS shall use commercially reasonable means to obtain the prior approval of SVCE before incurring any other Third Party costs or charges that are to be passed through to SVCE as Pass Through Amounts. “Permit” shall mean, unless otherwise provided in this Agreement, any approval, waiver, exemption, variance, franchise, permit, authorization, license, or similar order of or from any federal, state, county, municipal, or other governmental body, instrumentality, agency, authority, or court having jurisdiction over the matter in question. “Permitted Force Majeure Termination” shall have the meaning set forth in Section 13.4 of the General Terms and Conditions.
“Permitted Termination” shall have the meaning set forth in Section 8.5 of the General Terms and Conditions.
“Person” shall mean an individual, corporation, voluntary association, joint stock company, business trust, partnership, limited liability company, municipality (including any municipal electric board, cooperative, power utility, agency, or subdivision), rural electric cooperative, or other entity. “Pledgor” shall have the meaning set forth in Section 7.6(a) of the General Terms and Conditions. “PowerTools Platform®©” or PTP®©” shall have the meaning as set forth in Section 2.7 of the Base Agreement.
“PPA(s)” shall have the meaning given that term in the Recitals. “Pricing Node” or “PNode” shall have the meaning as defined in the CAISO Agreements. “Proceedings” shall have the meaning given that term in Section 16.3 of the General Terms and Conditions.
“Product(s)” shall mean Capacity, Energy, and Ancillary Services associated with the Load within the Services Areas identified in Exhibit A that is scheduled in the CAISO markets under this Agreement.

Item 1g
Attachment 1
Execution Version
14 “Prudent Industry Practice” shall mean, in respect of the performance under this Agreement, the practices, methods, techniques, standards and acts that, at the time of the performance under this Agreement, are then engaged in or approved by a significant portion of the independent power industry and that, in the exercise of reasonable judgment in light of the facts known at the time of performance, would have reasonably been expected to accomplish the desired results. Prudent Industry Practice is not intended to be limited to the optimum practices, methods, techniques, standards and acts to the exclusion of all others, but rather reflect the range of the practices, methods, techniques, standards and acts then generally accepted in the CAISO market, having due regard for, among other things, contractual obligations, Applicable Laws, Permits, and the Governing Rules.
“Real-Time” has the meaning as defined in the CAISO Agreements. “Recording” shall have the meaning as set forth in Section 16.10 of the General Terms and Conditions.
“Resources” shall have the meaning as set forth in the Recitals. "Resource Scheduling Agent Services Monthly Fee” shall have the meaning given that term in Section 5.2(b) of the Base Agreement.
“Renewal Term” shall have the meaning set forth in Section 6.1 of the Base Agreement. “Representatives” shall mean each Party’s respective directors, officers, and employees, including, without limitation, attorneys, accountants, partners, and consultants. “Responsible Party” shall have the meaning given that term in Section 8.3 of the General Terms and Conditions.
“Service Area” shall have the meaning given that term in the CAISO Agreements, and, for purpose of this Agreement, shall mean those Service Areas identified in Exhibit A hereto. “Scheduling Agent” shall have the meaning given that term in the CAISO Agreements. “Scheduling Coordinator” shall have the meaning given that term in the CAISO Agreements. “Scheduling Coordinator ID Code” shall have the meaning given that term in the CAISO Agreements.
“SCID” shall mean, for purposes of this Agreement, the Scheduling Coordinator ID Code assigned to SVCE by CAISO.
“Seasonal CRR Eligible Quantity” shall have the meaning given that term in the CAISO Agreements.
“Secured Party” shall have the meaning set forth in Section 7.6(a) of the General Terms and Conditions.
"Service Fees” shall mean, with respect to a Month, the Load Forecasting Scheduling Agent Services Monthly Fee and the CRR Monthly Service Fee.
“Services” shall mean, collectively, the Load Forecasting and Scheduling Agent Services, the CRR Portfolio Management Services, Outage Reporting, Support Services, and any other services that TPS and SVCE have expressly agreed to under this Agreement.

Item 1g
Attachment 1
Execution Version
15 “Settlement Statement” shall have the meaning as defined in the CAISO Agreements. “Set-Up Fee” shall have the meaning set forth in Section 5.1 of the Base Agreement. “Settlement Process” shall have the meaning set forth in Section 7.7 of the General Terms and Conditions.
“Support Services” shall have the meaning set forth in Section 2.8 of the Base Agreement. “Support Services Period” shall have the meaning set forth in Section 2.8 of the Base Agreement.
“SVCE” shall have the meaning set forth in the preamble of the Agreement. “SVCE Load Forecasting Period” shall have the meaning set forth in Section 2.6(e) of the Base Agreement.
“Term” shall mean the period commencing on the Effective Date through and including the expiration of the Initial Term and any Renewal Term, as applicable, subject in all cases to any early termination of the Agreement as permitted herein and subject to Section 6.3 of the Base Agreement.
“Termination for Performance” shall have the meaning set forth in Section 6.4 of the Base Agreement.
“Third Party” shall mean any Person other than SVCE or TPS. “Tier LT” shall have the meaning as defined in the CAISO Agreements. “TPS Customer Portal” means the internet site designated by TPS which provides access to public and SVCE-specific information and a means to transmit certain information from SVCE to TPS.
“Transaction” shall mean a particular transaction relating to the scheduling, delivery, sale, and/or purchase of a Product, as applicable.
“WECC” shall mean the Western Electricity Coordinating Council.

The terms defined above have the meanings set forth above for all purposes, and such meanings are equally applicable to both the singular and plural forms of the terms defined. "Include," "includes" and "including" shall be deemed to be followed by "without limitation" whether or not they are in fact followed by such words or words of like import. Any agreement, instrument, document, rule or law defined or referred to herein means such agreement, instrument, document, rule or law as from time to time amended, modified or supplemented. References to a Person include its successors and permitted assigns. "Hereof," "herein," "hereunder" and comparable terms refer, unless otherwise expressly indicated, to the entire agreement or instrument in which such terms are used and not to any particular Article, Section or other subdivision thereof or attachment thereto. References in an instrument to "Article," "Section" or another subdivision or to an attachment are, unless the context otherwise requires, to an article, section or subdivision of or an attachment to such agreement or instrument. All references to exhibits or appendices in any agreement or instrument that is governed by this Agreement are to exhibits or appendices attached to such instrument or agreement. References to any gender include, unless the context Item 1g
Attachment 1
Execution Version
16 otherwise requires, references to all genders. References to "$" or to "Dollars" or to “Cents” shall mean the lawful currency of the United States of America.

SECTION 2

PERFORMANCE OBLIGATIONS

2.1 Commencement. SVCE and TPS shall use commercially reasonable efforts to complete and submit any and all Documentation and fulfill any other steps required by CAISO, authorizing TPS to act as SVCE’s Scheduling Agent in order to provide the Services in accordance with this Agreement and applicable Governing Rules. TPS’s obligations to perform Services under this Agreement other than Support Services shall not commence until the Commencement Date.

2.2 TPS as Scheduling Agent.
(a) For the purchase of Products from CAISO to serve SVCE’s Resources and Load within the Service Areas, SVCE’s SCID shall represent SVCE’s Resources, Load and Transactions within the Service Areas, and TPS will not take title to such Products provided by CAISO through SVCE’s SCID to SCVE’s Resources and Load within the Service Areas.
(b) For the avoidance of doubt, TPS, in its role as SVCE’s Scheduling Agent, shall schedule all of SVCE’s Transactions associated with SVCE’s Resources and Load within the Service Areas which require scheduling with CAISO, subject to and in accordance with this Agreement.

2.3 Standard of Performance. TPS will perform the Services in a timely, good, workmanlike and commercially reasonable manner and in accordance with (i) the Governing Rules and Applicable Law, (ii) Prudent Industry Practice, (iii) instructions from SVCE, and (iv) the terms of this Agreement.

2.4 Exclusivity. For SCVE’s Resources and Load within the Service Areas, subject to the terms and conditions of this Agreement, SVCE grants TPS the exclusive right during the Term to:
(a) act as SVCE’s provider of Services such that,
(i) the Resources and Load within the Service Areas designated in Exhibit A will be solely represented by TPS as Scheduling Agent;
(ii) SVCE will schedule all Products through and with TPS; and (iii) during the Term of this Agreement, SVCE will not schedule Products related to such Load directly with CAISO, or through any other Person except TPS, as long as there is no Force Majeure event or Event of Default that has occurred and is continuing with respect to TPS;
(b) serve as SVCE’s representative, limited to the purpose of representing SVCE as the Scheduling Agent for the Load within the Service Areas in communications with CAISO, as provided under Section 2 of the Base Agreement; and (c) schedule the Products per SVCE’s instruction described in this Agreement.

Item 1g
Attachment 1
Execution Version
17 2.5 Reports. TPS shall provide SVCE with reports showing quantities of Products associated with SVCE’s Resources and Load within the Service Areas, Products scheduled on behalf of SVCE by TPS, and CAISO settlement meter data for such Resources and Load (to the extent applicable and to the extent SVCE provides TPS with access to such settlement meter data).

2.7 Regulatory Reporting. TPS will reasonably assist SVCE in data collection for SVCE’s regulatory reporting obligations upon SVCE’s request. SVCE will be responsible for required state, federal or regional reports applicable to its licenses and business interests.

For clarification, nothing herein shall obligate TPS to prepare or submit any regulatory or governmental reports for SVCE; provided, however, that TPS shall timely provide to SVCE all information in its possession that is reasonably requested by SVCE for SVCE’s regulatory or governmental reports.

SECTION 3

OPERATIONAL ISSUES

3.1 Resource Information. To the extent applicable to the Services, SVCE will provide or cause to be provided to TPS the following information with respect to the Resources:
(a) all CPUC, CAISO and/or EIM registration and system modeling information required for the provision of Services applicable to the Resources, including but not limited to information relating to the CAISO and/or EIM network model, as soon as reasonably practicable after the Effective Date; and (b) all relevant parameters, Real-Time data telemetry point map, Delivery Point(s), and Pricing Node(s), each as applicable to each Resource and as may be required by the Governing Rules, along with any other information about the Resources that SVCE reasonably believes would be helpful for TPS to know or that TPS reasonably requests in connection with the Services provided under this Agreement. TPS will provide assistance to SVCE to identify required information.

SVCE will use good faith efforts to, as soon as practicable, provide TPS with any and all applicable additions or changes to the above information required for the provision of Services. TPS may rely on the most recent information SVCE has supplied to TPS.

Resources may only be added to or removed from this Agreement through a written amendment of this Agreement executed by the Parties.

3.2 Daily Schedule of Sales Commitments and Products Availability. (a) If applicable, two hours prior to the deadline specified in the Governing Rules for Day-Ahead Market submissions on each Day, or sooner if practicable, SVCE will provide or cause to be provided to TPS a written schedule (the “Daily Schedule”) setting forth SVCE’s next Day’s hourly expected quantity of Products available from the Resources based on anticipated operational requirements and the level of SVCE’s participation in the CAISO market. The Daily Schedule will also describe the nature and expected duration of any scheduled or unscheduled limitations of each Resource, or any Resource maintenance requirements, that have not previously been communicated for the Day on which the Daily Schedule is received, or any succeeding Day.

(b) In addition to providing TPS with the Daily Schedule, throughout each Operating Day, SVCE must provide or cause to be provided to TPS updates on SVCE’s ability to sell Products when and if such information changes materially from that Item 1g
Attachment 1
Execution Version
18 information previously communicated to TPS by SVCE. These updates will be provided via a mutually agreed upon template sent electronically or over the phone or such other means as mutually agreed by the Parties. If updates occur over the phone, SVCE will make commercially reasonable efforts to send the template with the updated information as soon as is practicable, and TPS will make commercially reasonable efforts to submit the schedule.

SECTION 4

RESERVED
SECTION 5

EQUIPMENT AND DATA TRANSMISSION

5.1 Data Transmission. As necessary, the Parties agree that SVCE will send or cause to be sent telemetered data directly to CAISO and communicate required telemetered data from and to the Resources and Load within the Service Areas. SVCE shall continually transmit, or cause to be continually transmitted, operational data to TPS on a Real-Time basis as required by the Governing Rules.

5.2 Communication Cost. SVCE shall provide TPS with access to all applicable CAISO communication systems available to SVCE, as necessary for TPS to provide SVCE with Services described in this Agreement or as may be required by the Governing Rules. Prior to incurring any associated Third Party communication costs subject to reimbursement by SVCE, TPS shall provide SVCE with an estimate of and explanation of the need for such costs and obtain SVCE’s approval for such costs, which shall not be unreasonably withheld. For such communication costs, TPS will invoice SVCE for such Pass Through Amounts in accordance with Section 7.1 of the General Terms and Conditions, providing SVCE with supporting details from TPS’s invoices from Third Party communications providers or vendors. Included in communications costs reimbursable by SVCE are any incremental costs applicable to CAISO WAN costs attributable to SVCE that are supported by cost documentation from CAISO.

SECTION 6

SETTLEMENTS AND PASS THROUGH AMOUNTS

6.1 CAISO Settlements. SVCE shall be responsible for directly remitting and receiving Settlement Statements and payments with CAISO for all activities involving the Load within the Service Areas. TPS shall not be responsible to SVCE for errors in meter data supplied by or to CAISO, if applicable, for use in settlement calculations. In the event CAISO requires TPS to pay for settlement charges related to SVCE, TPS shall provide SVCE with documentation of such charges, and SVCE shall reimburse TPS for such amounts TPS has paid to CAISO on behalf of SVCE.

6.2 Reconciliation. Subject to Section 2.7 of the Base Agreement, TPS will use commercially reasonable efforts to reconcile all CAISO Settlement Statements based on the shadow settlements and CAISO charges, costs or payments included in Pass Through Amounts related to SVCE and will alert SVCE to any amounts which are erroneous, extraneous or otherwise do not comport with the Governing Rules or Product associated with the Load within the Service Areas or this Agreement. When TPS provides SVCE with TPS’s analysis of any CAISO Settlement Statement, if SVCE disputes the accuracy of such statement or otherwise wishes to pursue a dispute alerted by TPS, SVCE shall raise the dispute with reasonable notice to TPS prior to any deadline for contesting such Settlement Statement established in the Governing Rules or be deemed to concur in its accuracy. If any such dispute is timely raised by SVCE, TPS will provide SVCE support in formulating Item 1g
Attachment 1
Execution Version
19 such dispute, and SVCE (or upon SVCE’s request, TPS) will file such dispute with CAISO prior to any deadline for contesting such Settlement Statement established in the Governing Rules. TPS will provide SVCE on-going support with respect to any continuing CAISO disputes. Notwithstanding the foregoing, SVCE is under no obligation to utilize any services from TPS with respect to such disputes.

SECTION 7
BILLING; PAYMENT; CREDIT

7.1 Invoices. All Services hereunder will be accounted for consistent with the Governing Rules. The accounting period for Services, Transactions, and settlements will be one (1) Month. TPS’s Monthly invoices will detail the Services and Pass Through Amounts provided or incurred during the applicable billing Month together with any adjustments for prior Months’ Services and Pass Through Amounts, which invoice shall contain such detail and substantiating documentation as SVCE may reasonably request. TPS’s invoice will show the net amounts that each Party owes (or is owed) pursuant to this Agreement.

7.2 Payment Date. All payments to either Party, as set forth in TPS’s invoices, shall be made by ACH or wire transfer on or before the Due Date.

7.3 Late Payment. Amounts owed, but not paid on or before the Due Date will be payable with interest at the Interest Rate calculated daily from the Due Date until payment is received.

7.4 Offset. In the event that SVCE and TPS are each required to pay an amount to the other in the same Month pursuant to this Agreement, then such amounts will be aggregated, and the Parties will discharge their obligations to pay through offset. In such an offset, the Party owing the greater aggregate amount will pay to the other Party the net difference between the amounts owed.

7.5 Billing Disputes. In the event SVCE, in good faith, disputes any TPS invoice, SVCE will provide TPS with written notice of the disputed amounts, together with a statement describing the particulars of the dispute, including the calculations with respect to any errors or inaccuracies, and any such amounts (other than Pass Through Amounts) so disputed shall not be required to be paid until resolution of the dispute. TPS agrees to work diligently with SVCE to clarify and/or correct any error or suspected errors on the invoices before the Due Date. Except to the extent that TPS agrees that any Pass Through Amount is not due, the Party owing any amount shall pay all amounts of Pass Through Amounts, even if disputed, set forth in the TPS invoice on or before the Due Date.

If it is subsequently determined that SVCE has overpaid or underpaid amounts actually due, the Parties will make any necessary adjustments within ten (10) Days after determination of any overpayment or underpayment. Subject to Section 7.4 of the General Terms and Conditions, the Party in receipt of any overpayments shall refund such overpayments with interest accrued at the Interest Rate from the date payment was received. The obligations under this Section 7.5 will survive the expiration or earlier termination of this Agreement.

7.6 Credit Support.
(a) Credit Support and Limits. The obligation of each Party (as “Secured Party”) to provide or receive Services hereunder is conditioned upon compliance by the other Party (as “Pledgor”) with Secured Party’s credit policies and requirements. If a Pledgor experiences a Material Adverse Change in creditworthiness, as determined by the Secured Party using commercially reasonable standards of Item 1g
Attachment 1
Execution Version
20 measuring creditworthiness, then such Secured Party may request that the Pledgor provide Credit Support in an amount sufficient to cover such Secured Party’s Credit Exposure. A failure by Pledgor to provide Credit Support pursuant to this Section 7.6(a) within three (3) Business Days of receiving a request hereunder will be an Event of Default pursuant to Section 11.1(a) of the General Terms and Conditions.
(b) Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent either or both Parties deliver Credit Support hereunder, Pledgor hereby grants to the Secured Party a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, such Secured Party, and each Party agrees to take such action as the other Party reasonably requires in order to perfect the Secured Party’s first-priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default, the Non-Defaulting Party may do any one or more of the following: (i) exercise any of the rights and remedies of a Secured Party with respect to all Credit Support, including any such rights and remedies under law then in effect; (ii) draw on any outstanding letter of credit issued for its benefit; and (iii) liquidate all Credit Support then held by or for the benefit of the Secured Party free from any claim or right of any nature whatsoever of the Defaulting Party, including any equity or right of purchase redemption by the Defaulting Party. The Secured Party shall apply the proceeds of the collateral realized upon the exercise of any such rights or remedies to reduce the Pledgor’s obligations under this Agreement (the Pledgor remaining liable for any remaining amounts owing to the Secured Party after such application, if any), subject to the Secured Party’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full.

7.7 Maintenance of Records; Audit.
(a) TPS and SVCE shall each maintain in accordance with Prudent Industry Practice complete, accurate and up-to-date supporting records that are pertinent to the Services and payment obligations hereunder, including all Pass Through Amounts.

TPS shall ensure that such supporting books and records are distinguishable from TPS’s other activities. The Parties shall each retain such books and records for a minimum of four (4) years after the Term, or if longer, the relevant period required by Applicable Law or Governing Rules.
(b) Each Party has the right, at its sole expense and during Business Hours and upon reasonable written notice to the other Party, to examine the records of the other Party as necessary to verify the accuracy of any invoice, charge, or computation made pursuant to this Agreement. If any such examination reveals any inaccuracy in any invoice, the necessary adjustments in such invoice and the payments thereof will be promptly made together with interest at the Interest Rate, if applicable, from the original date of payment; provided that no adjustment for any invoice or payment will be made unless objection to the accuracy thereof was made prior to the lapse of two (2) years from the date that the disputed invoice was delivered This paragraph of this Agreement survives the expiration or earlier termination of this Agreement for a period of four (4) years from the date of such expiration or earlier termination of this Item 1g
Attachment 1
Execution Version
21 Agreement for the purpose of the right to examine records and such invoice and payment objections and corrections.

SECTION 8

GOVERNING RULES

8.1 Governing Rules. Both Parties agree to abide by all Applicable Laws and the Governing Rules. For purposes of determining responsibility and rights of the Parties at any given time, in addition to the terms and conditions of this Agreement, the Applicable Laws and Governing Rules which are in effect at the time of performance or non-performance of an action, subject to the continuation of any grandfathered provisions, will govern with respect to that action. In the event of a direct and irreconcilable conflict between Applicable Laws and the Governing Rules and the terms and conditions set forth in this Agreement, the Applicable Laws and Governing Rules will prevail.

8.2 Compliance Support. TPS shall use commercially reasonable efforts to assist SVCE in any audit of the Load within the Service Areas conducted or initiated by a regional reliability coordinator or NERC, including preparation of responses to NERC or regional reliability coordinator data requests related to NERC standards for which TPS has information useful to SVCE for the demonstration of compliance. In addition to the foregoing, if the regional reliability coordinator requests a NERC audit for a time period during which TPS served as SVCE’s Scheduling Agent for SVCE’s SCID, then upon SVCE’s request, with respect to such audits that call for production of records of Scheduling Coordinator-related communications with CAISO, TPS shall support SVCE with relevant information and assistance including assisting SVCE in responding to a NERC audit by providing SVCE with TPS’s pertinent documentation of TPS’s communications with CAISO or the applicable Load in a timely manner. Nothing contained in this Agreement shall be construed to make TPS a “generation owner,” “generation operator,” or any similar entity, or to make TPS subject to any classification under applicable NERC rules as a result of TPS’s execution of this Agreement or TPS’s performance of the Services or otherwise, and SVCE shall not register TPS or require TPS to register with NERC as a “generation owner” or “generation operator” with respect to the resources.

8.3 Compliance with Laws. TPS and SVCE will at all times relevant to this Agreement comply with all Applicable Laws and the Governing Rules. In the event that actions or omissions of one Party (“Responsible Party”) cause the other Party (“Affected Party”) to (a) be materially non-compliant with the Governing Rules or Applicable Laws affecting Scheduling Coordinators or the Load that is the subject of this Agreement, or (b) have assessed or brought against it any fines, penalties, reprimands, censures, sanctions, assessments, or other material adverse actions by CAISO, market monitor, or any other Governmental Authority (“Assessments”) (which, for the avoidance of doubt, will not include ordinary course settlement charges or penalties, such as imbalance penalties or charges, mismatched schedule charges, uninstructed deviation charges, or late fees), then, in addition to any other rights or remedies under this Agreement (including, without limitation, the right, if any, to indemnification against such Assessments), the Affected Party may exercise any or all of the following:
(i) give written notice to the Responsible Party setting forth the circumstances of non-compliance and, if practicable, demand that the Responsible Party cure such non-compliance; and (ii) demand that the Responsible Party use commercially reasonable efforts to cooperate in the Affected Party’s defense against such allegation or Assessment (provided the foregoing will not require the Affected Party to incur material Item 1g
Attachment 1
Execution Version
22 expenses unless reimbursed by the Responsible Party nor take any position in any regulatory proceeding contrary to its interests or policies).

The Responsible Party will reimburse the Affected Party for any Assessments paid by the Affected Party; provided, however, that any payment required shall remain subject to the limitation of liability in Section 10.2 of the General Terms and Conditions.

8.4 TPS Affiliates. Notwithstanding any provision of this Agreement to the contrary, TPS shall in all cases remain obligated for the performance of the Services and its obligations under this Agreement regardless of whether such Services or obligations are performed by its Affiliates.

8.5 Change in Laws or Regulations. In the event a change in Applicable Laws or the Governing Rules (a) materially impairs a Party’s ability to perform under this Agreement, or (b) in the case of TPS, authorizes the CPUC to assert any new or additional jurisdiction over Scheduling Coordinators or Scheduling Agents, the adversely affected Party may notify the other Party of the adverse effect and propose amendments to this Agreement to address the adverse effect of the change in Applicable Laws or Governing Rules. The Parties shall negotiate in good faith to amend this Agreement to restore the Parties to the relative benefits and obligations contemplated under this Agreement prior to the change in Applicable Laws or Governing Rules. If the Parties have not reached agreement on an amendment by the thirtieth (30th) Day after the effectiveness of the notice sent by the affected Party, then the affected Party may, upon written notice to the other Party, terminate this Agreement by designating a termination date that is no earlier than ninety (90) Days after the date of such written notice (“Permitted Termination”). Neither Party shall owe damages to the other Party in the event of a Permitted Termination; provided, that neither Party shall be relieved of any payment obligations accruing under this Agreement prior to the date of such termination or that by their nature survive such termination. Upon a Permitted Termination, TPS will reasonably cooperate with SVCE to transition the Services to a replacement Scheduling Agent in accordance with Section

6.2 of the Base Agreement.

SECTION 9
TAXES

9.1 Taxes. The seller or distributor of a Product will pay or cause to be paid all taxes imposed by any Governmental Authority on, or with respect to, a Product or a Transaction arising prior to the Delivery Point, and the buyer of a Product shall pay, or cause to be paid, all taxes imposed by any Governmental Authority on, or with respect to, a Product or a Transaction arising at or after the Delivery Point. In no event shall SVCE have any liability for taxes owed by TPS for performance under this Agreement.

Each Party must provide a state sales tax exemption form and a federal W-9 form to the other Party upon request. The Party failing to provide a sales tax exemption form will be liable for any state sales tax assessments on Transactions.

Each Party agrees to cooperate with the other Party in the event a state, municipality, or other relevant Governmental Authority ever audits or challenges a Party’s compliance with the rules and regulations governing the payment of taxes related to a Product or Transaction under this Agreement. Furthermore, each Party agrees to indemnify the other Party for any taxes, penalties, late fees, or other charges a Party is required to pay a taxing authority for uncollected and owed taxes which were the responsibility of the other Party under this Agreement, or which arose due to (i) a Party’s failure to provide appropriate exemption certification or (ii) a Party’s misrepresentation of any tax status. This provision Item 1g
Attachment 1
Execution Version
23 shall survive the expiration or earlier termination of this Agreement and shall stay in full force and effect for five (5) years following the expiration or earlier termination of this Agreement.

SECTION 10

INDEMNITIES, LIABILITIES AND WARRANTY DISCLAIMER

10.1 INDEMNITIES. SUBJECT TO THE LIABILITY LIMITATIONS SET FORTH IN SECTION

10.2 BELOW, EACH PARTY UNDERSTANDS AND AGREES THAT IT SHALL DEFEND,

RELEASE, INDEMNIFY, AND HOLD THE OTHER PARTY HARMLESS FROM (I)

EXCEPT TO THE EXTENT CAUSED BY THE NON-INDEMNIFYING PARTY, ALL THIRD

PARTY LIABILITIES, COSTS, CLAIMS, LOSSES, OR CAUSES OF ACTION ARISING

FROM PERSONAL INJURY, PROPERTY LOSS, PROPERTY DAMAGE, OR DEATH,

HOWEVER CAUSED, AND RELATED TO ANY EVENT, CIRCUMSTANCE, ACT OR

INCIDENT FIRST OCCURRING OR EXISTING DURING THE PERIOD OF TIME WHEN

CONTROL AND TITLE TO ANY PRODUCT IS VESTED IN SUCH INDEMNIFYING

PARTY, OR (II) ANY OTHER THIRD PARTY LIABILITIES, COSTS, CLAIMS, LOSSES,

OR CAUSES OF ACTION TO THE EXTENT CAUSED BY SUCH INDEMNIFYING PARTY’S WILLFUL MISCONDUCT OR GROSS NEGLIGENCE.

10.2 LIMITATION OF LIABILITY. EXCEPT FOR INDEMNITIES PROVIDED IN SECTION 10.1

HEREOF, THE LIABILITY OF EACH PARTY TO THE OTHER PARTY FOR ANY CLAIM

OR CAUSE OF ACTION RELATED TO THIS AGREEMENT SHALL BE LIMITED TO DIRECT, ACTUAL DAMAGES ONLY AND ALL OTHER DAMAGES ARE WAIVED. IN

NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY

CONSEQUENTIAL, INDIRECT, PUNITIVE, LOST PROFIT, LOST OPPORTUNITY,

BUSINESS INTERRUPTION, OR EXEMPLARY DAMAGES FOR ANY CLAIM OR

CAUSE OF ACTION RELATED TO THIS AGREEMENT, WHETHER ARISING FROM

BREACH OF CONTRACT OR WARRANTY, INDEMNITY, TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY), STATUTE, OR OTHERWISE. MOREOVER,

NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT,

EXCLUDING ANY LIABILITY FOR PAYMENTS OR CREDITS DUE TO SVCE UNDER

THE BASE AGREEMENT, UNLESS THE CLAIMS OR OBLIGATIONS ARE CAUSED BY TPS’S WILLFUL MISCONDUCT OR GROSS NEGLIGENCE, FOR ANY THREE (3)

MONTH PERIOD OF SERVICES, THE LIABILITY OF TPS TO SVCE FOR ANY

OBLIGATIONS OR CLAIMS UNDER THIS AGREEMENT (INCLUDING INDEMNITIES)

SHALL BE LIMITED TO A MAXIMUM OF THE SERVICE FEES RECEIVED BY TPS FROM SVCE (I) WITH RESPECT TO THE FIRST THREE (3) MONTHS OF THE TERM,

FOR THE MONTHS PRECEDING THE MONTH IN WHICH THE EVENT GIVING RISE TO THE CLAIM OCCURRED, AND THEREAFTER (II) FOR THE THREE (3) MONTHS

IMMEDIATELY PRECEDING THE MONTH IN WHICH THE EVENT GIVING RISE TO THE CLAIM OCCURRED (THE “DAMAGES CAP”); PROVIDED, HOWEVER, ONCE

ANY PORTION OF THE DAMAGES CAP HAS BEEN PAID OUT BY TPS IN

SATISFACTION OF A CLAIM, SUCH PORTION THAT HAS BEEN PAID OUT SHALL BE

DEDUCTED FROM THE DAMAGES CAP OTHERWISE AVAILABLE TO SATISFY ANY SUBSEQUENT CLAIM(S) ARISING DURING SUCH THREE (3) MONTH PERIOD. FOR THE AVOIDANCE OF DOUBT, OTHER THAN WITH RESPECT TO TPS’S PAYMENT

OBLIGATIONS EXPRESSLY EXCLUDED FROM THE LIMITATION OF LIABILITY

ABOVE, TPS WILL NOT BE OBLIGATED TO PAY OUT IN THE AGGREGATE FOR CLAIMS IN ANY CONSECUTIVE THREE (3) MONTH PERIOD MORE THAN THE SERVICE FEES TPS HAS RECEIVED FROM SVCE FOR SUCH THREE (3) MONTH PERIOD.

Item 1g
Attachment 1
Execution Version
24 10.3 WARRANTY DISCLAIMER. EXCEPT FOR THE EXPRESS WARRANTIES SET FORTH IN THIS AGREEMENT, THE SERVICES ARE PROVIDED ON AN “AS IS” BASIS, AND SVCE’S USE OF THE SERVICES IS AT ITS OWN RISK. TPS DOES NOT MAKE, AND

HEREBY DISCLAIMS, ANY AND ALL OTHER EXPRESS OR IMPLIED WARRANTIES

INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS

FOR A PARTICULAR PURPOSE, AND TITLE, AND ANY WARRANTIES ARISING FROM A COURSE OF DEALING, USAGE, OR TRADE PRACTICE. TPS DOES NOT

WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED, ERROR-FREE, OR

COMPLETELY SECURE, OR THAT THE PROVISION OF SERVICES WILL ALWAYS BE EXECUTED WITHOUT HUMAN ERRORS OR OMISSIONS.

10.4 ADDITIONAL INDEMNITIES. AN INDEMNIFYING PARTY’S INDEMNITY

OBLIGATIONS, AND ANY WAIVERS AND RELEASES OF CLAIMS IN THIS

AGREEMENT WILL EXTEND TO THE INDEMNIFIED PARTY, ITS AFFILIATED

COMPANIES, INCLUDING ANY ENTITY CONTROLLING, UNDER THE CONTROL OF,

OR UNDER COMMON CONTROL WITH SUCH PARTY, AND TO THE RESPECTIVE

OFFICERS, DIRECTORS, EMPLOYEES, OWNERS, SHAREHOLDERS AND INSURERS OF EACH THEREOF.

10.5 Survival. The provisions of this Section 10 shall survive the expiration or earlier termination of this Agreement.

SECTION 11

DEFAULTS AND REMEDIES

11.1 Events of Default. A Party will be in default under this Agreement upon the occurrence of any one or more of the following events (each an “Event of Default”):
(a) the failure by a Party to make a timely payment of any amounts due to the other Party or provide required Credit Support to the other Party under this Agreement; (b) the failure by a Party to perform its material obligations under this Agreement, including the obligations to perform its obligations under this Agreement in accordance with the Governing Rules and Prudent Industry Practice, which failure is not excused by the terms of this Agreement;
(c) the breach of any representation or warranty of such Party that results in a material adverse impact on the other Party;
(d) the appointment (voluntary or involuntary) of a receiver or liquidator or trustee of such Party or of any of the property of such Party by order of a court of competent jurisdiction;
(e) the filing of a petition or consent seeking relief or assisting in seeking relief in a proceeding under any of the provisions of federal or state bankruptcy or insolvency laws, as any such laws now exist or as those laws may be amended, or the filing of an answer admitting the material allegations of a petition filed against it in such proceeding; the general assignment by a Party for the benefit of its creditors; or the admission by a Party in writing of its inability to pay its debts generally as they become due; and/or
(f) the commission of a fraudulent act or omission by a Party in the performance of its obligations hereunder.

Item 1g
Attachment 1
Execution Version
25 11.2 Rights of Non-Defaulting Party. If an Event of Default shall have occurred and be continuing with respect to a Party (the “Defaulting Party”), the Party not subject to an Event of Default (the “Non-Defaulting Party”) shall have the right to take any one or more of the following actions:
(a) upon the occurrence of an Event of Default as specified in Sections 11.1(a),

11.1(b), 11.1(d), 11.1(e), or 11.1(f), to suspend performance immediately and without notice;
(b) upon the occurrence of an Event of Default as specified in Section 11.1(c), upon three (3) Business Days’ notice, to suspend performance of any obligation which, if performance continued, would expose the Non-Defaulting Party to material risks or material unrecovered costs;
(c) upon the occurrence of an Event of Default as specified under Sections 11.1(a),

11.1(b), or 11.1(f), to terminate this Agreement by giving the Defaulting Party written notice setting forth a description of the Event of Default and designating a termination date, provided that the Defaulting Party shall have three (3) Business Days after the date of such notice in which to cure the Event of Default; (d) upon the occurrence of an Event of Default as specified under Section 11.1(c), to terminate this Agreement by giving the Defaulting Party written notice setting forth a description of the Event of Default and designating a termination date, provided that the Defaulting Party shall have fifteen (15) Days after the date of such notice in which to cure the Event of Default;
(e) upon the occurrence of an Event of Default as specified in Sections 11.1(d), or

11.1(e), to terminate this Agreement immediately and without notice; (f) to pursue collection of direct, actual damages and seek any other remedy at law or in equity (except to the extent limited by, or waived under, this Agreement); (g) to pursue collection of reasonable attorney's fees and costs if any action is brought to enforce any term or provision of this Agreement or collect amounts due (whether at the trial court level or any appeal there from); and/or (h) to pursue any other remedy provided under this Agreement.

11.3 Acceleration of Amounts Due. If a termination of this Agreement occurs pursuant to this Section 11, the Non-Defaulting Party may accelerate all amounts owing between the Parties, offset amounts owed by the Defaulting Party against amounts due the Defaulting Party and against any Credit Support held between the Parties, and liquidate and terminate all Services, Transactions and/or scheduled quantities of Products where commercially reasonable to do so. To the extent applicable, where scheduled Transactions or scheduled quantities cannot be liquidated or terminated in a commercially reasonable manner, then this Agreement will continue in force as to those scheduled Transactions and scheduled quantities for the duration of the contractual commitment to Third Parties.

SECTION 12

NOTICES
Item 1g
Attachment 1
Execution Version
26 12.1 Notices. Unless otherwise provided in this Agreement, any notices given under this Agreement must be in writing and personally delivered or sent by mail or email to such Persons or locations designated on Exhibit B and shall be deemed given and effective when delivered by hand or upon:
(a) three (3) Business Days after such notice is deposited in the United States mail with postage prepaid for transmittal by registered or certified mail, return receipt requested;
(b) one (1) Business Day after such notice is placed in the hands of a recognized commercial mail or courier service for overnight delivery; or (c) the Business Day on the date such notice was sent by email with confirmation of receipt of such email by confirmed email transmission, provided that such receipt occurred during Business Hours of such Business Day. For email transmissions received after such Business Hours of such Business Day at the receiving location, notice shall be deemed effective upon the opening of Business Hours of the next Business Day.

For the avoidance of doubt, either Party may update its notice information contained in Exhibit B at any time without the need for a formal amendment by sending written notice to the other Party in accordance with this Section 12.1.

SECTION 13

FORCE MAJEURE

13.1 Force Majeure. Subject to Section 13.2 of the General Terms and Conditions, neither Party will be considered to be in default in the performance of any obligations under this Agreement (other than the obligation to make a payment of amounts owed) to the extent and for the duration that such failure of performance results from Force Majeure. The term “Force Majeure” means causes that are beyond the reasonable control of the Party affected which, by exercise of due diligence, such Party could not reasonably have been expected to avoid and which, by exercise of due diligence, it has been unable to overcome and not the result of the fault or negligence of such Party including, but not limited to: flood, earthquake, tornado, hurricane, storm, or fire; acts of terrorism; civil disobedience, strikes, or other labor dispute; labor or material shortage; sabotage; pandemic, epidemic or other public health emergency; restraint, order, rule, or regulation of any court, governmental body, or public authority, including CAISO (whether valid or invalid).

13.2 Due Diligence. No Party, however, shall be relieved of liability for failure of performance hereunder based on Force Majeure if such failure is due to causes arising out of its own negligence or due to removable or remediable causes which it fails to remove or remedy within a reasonable time period. A Party claiming Force Majeure must exercise due diligence to overcome the Force Majeure event. Either Party rendered unable to fulfill any of its obligations under this Agreement by reason of Force Majeure shall give prompt written notice of such fact to the other Party and shall exercise due diligence to remove such inability with all reasonable dispatch.

13.3 Obligations During Force Majeure. Notwithstanding any other provisions as stated in Section 13, an event of Force Majeure does not relieve a Party of any of its obligations under the Governing Rules and this Agreement that the Party can reasonably perform during a Force Majeure event, and does not excuse a Party of its obligations to make payments for obligations arising prior to the Force Majeure event, or of any payment Item 1g
Attachment 1
Execution Version
27 obligations for its non-performance arising pursuant to the Governing Rules and this Agreement.

13.4 Force Majeure Termination. In the event that any Force Majeure event prevents a Claiming Party from performing hereunder for a period of at least one hundred eighty (180) consecutive Days, the Party whose performance was not impaired by the claimed Force Majeure event (“Non-Impaired Party”) may terminate this Agreement by giving written notice to the Claiming Party and designating a termination date, which shall be no earlier than ten (10) Days after the date of the Non-Impaired Party’s receipt of the Claiming Party’s Force Majeure event notice (“Permitted Force Majeure Termination”). Neither Party shall owe damages to the other Party in the event of a Permitted Force Majeure Termination; provided, that neither Party shall be relieved of any payment obligations accruing under this Agreement prior to the date of such termination or that by their nature survive such termination.

SECTION 14

CONFIDENTIALITY

14.1 Confidentiality.
(a) Subject to the remaining provisions of this Section 14.1, each Party agrees, for itself, its Affiliates, and its Representatives, to keep confidential this Agreement, all negotiations concerning this Agreement, and all other information furnished by either Party related to schedules, Services, credit and financial obligations, and Transactions under this Agreement ("Confidential Information"); provided, however, such confidentiality obligation will expire three (3) years immediately following the expiration or earlier termination of this Agreement. (b) The receiving Party, its Affiliates, and its Representatives shall not disclose any Confidential Information to any Third Party without the prior written consent of the disclosing Party unless requested or required by a Governmental Authority or self-regulatory organization or as permitted in accordance hereof, except that a Party may disclose Confidential Information, without such prior written consent, to any Affiliate, Representative, current or future financing sources, insurer, auditor, or potential purchaser of or investor in a Party and its parent or Affiliates (and its and their Representatives who need to know such information) who agree to keep such Confidential Information confidential on terms no less restrictive, as a whole, than those set forth in this Section 14.1. Except with regard to disclosures permitted by this Section 14.1, the disclosing Party shall require such Third Party to agree in writing to treat the Confidential Information in accordance with this Agreement.

Each Party shall be responsible for the compliance by its Affiliates and Representatives with this Section 14.1 of the General Terms and Conditions. (c) In the event any Party is requested or required to disclose such Confidential Information pursuant to Applicable Law including, but not limited to a request for disclosure under the California Public Records Act (California Government Code Section 7920, et seq.) or by a court, agency, or other governing body having or purporting to have jurisdiction over the Party, to the extent permitted by Applicable Law, such Party must notify the other Party prior to any disclosure so as to allow the other Party to seek appropriate protection from disclosure. If TPS takes no such action to seek such protection within five (5) Business Days after receiving notice from SVCE of a request for disclosure under the California Public Records Act, SVCE may comply with the Third Party’s request or demand and is not required to defend against it.

Item 1g
Attachment 1
Execution Version
28 (d) The Parties agree that disclosure of Confidential Information in breach of the confidentiality provisions of this Agreement constitutes an irreparable injury and that injunctive relief is an appropriate remedy to prevent the unwarranted disclosure of any Confidential Information.
(e) The confidentiality provisions of this Agreement will not apply to any information (i) the receiving Party developed independently without using the Confidential Information, (ii) that was in the public domain at the time of its disclosure hereunder, (iii) which passes into the public domain by acts other than the acts of or caused by the Party receiving said Confidential Information, or (iv) is disclosed to the receiving Party by a Third Party, provided that the receiving Party does not know (or has no reasonable basis to know) that the information was received or disclosed unlawfully.
(f) The Parties currently do not contemplate that the services under this Agreement will require TPS to access and process information that pertains to individual SVCE customer data, including but not limited to individual customer load, address, meter, business types, and credit data. If circumstances change that require TPS to access or process such individual customer data, then TPS shall timely inform SVCE, and the Parties shall negotiate in good faith any additional requirement that would protect the confidentiality of individual customer data and make applicable amendments to this Agreement. TPS shall make its employees aware of this requirement and shall establish appropriate internal safeguards to ensure compliance with this requirement.

SECTION 15

REPRESENTATIONS AND WARRANTIES

15.1 Mutual Representations and Warranties. Each Party represents and warrants to the other Party at all times during the Term that:
(a) it is duly organized, validly existing, and in good standing under the laws of the jurisdiction under which it is organized and is authorized to do business in the State of California;
(b) it has the full power and authority to enter into this Agreement and perform all of its specified obligations, representations, warranties, and covenants under this Agreement;
(c) it is not bankrupt, does not contemplate becoming bankrupt nor, to its knowledge, will become bankrupt;
(d) (i) the execution, delivery, and performance of this Agreement have been duly authorized by all requisite action of its governing body and does not and will not conflict with any provision of its organizational documents, any Applicable Law or any material agreement or instrument to which it is a party or by which it or a material portion of its property or assets may be bound or effected, and (ii) the Person signing this Agreement on its behalf was duly authorized to execute and deliver this Agreement on its behalf;
(e) it has obtained, or will obtain prior to the Commencement Date, all required licenses, registrations, certifications, Permits, and other authorizations; and has taken, or will take prior to the Commencement Date, all actions required by Item 1g
Attachment 1
Execution Version
29 Applicable Laws, the Governing Rules or governmental regulations with the exception of licenses, registrations, certifications, Permits, or other authorizations that do not materially affect its performance under this Agreement; (f) it is not in violation of any contracts, laws, ordinances, or governmental rules, regulations, or orders of any Governmental Authority or arbitration board materially affecting performance of this Agreement and to which it is subject; (g) it is solely responsible for keeping itself informed of and understanding its respective responsibilities under the Governing Rules and any laws, rules, regulations, and tariffs approved by any Governmental Authority with jurisdiction over the matters specified in this Agreement; and
(h) it is not registered as a commodity trading advisor under the U.S. Commodity Exchange Act and is not holding itself out as in the business of advising others as to the value or advisability of trading swaps, options, futures or cash settled forwards or any other commodity transaction. Any oral or written communications by TPS with respect to this Agreement are not intended to be commodity trading advice.

15.2 Additional SVCE Representations and Warranties. SVCE represents and warrants that SVCE will work in good faith with TPS to make, prior to the Commencement Date, all required registrations with, and receive all required certifications and approvals from, the CPUC and all required registrations with, and receive any necessary qualifications from, CAISO to perform this Agreement.

15.3 Additional TPS Representations and Warranties. TPS represents and warrants that (i) prior to the Commencement Date and during the Term, TPS will be authorized to represent SVCE’s SCID as Scheduling Agent with CAISO and (ii) TPS has made or will make prior to the Commencement Date all other required registrations with, and received all other required certifications and approvals from, the CPUC, and has made all other required registrations with, and received any other necessary qualifications from, CAISO to perform under this Agreement.

SECTION 16

MISCELLANEOUS

16.1 Disclaimer. This Agreement does not constitute, create, give effect to, or otherwise recognize or imply the existence of a joint venture, pooling arrangement association, partnership, or other formal or informal business organization of any kind among the Parties, and the rights and obligations of the Parties with respect to this Agreement shall be limited to those set forth in this Agreement.

16.2 Assignment. Neither Party will assign this Agreement or its performance or rights arising under or related to this Agreement without the prior written consent of the other Party, which consent may not be unreasonably withheld, conditioned or delayed; provided, however, either Party may, without the consent of the other Party (and without relieving itself from liability hereunder), (i) transfer or assign this Agreement to any Person or entity succeeding to all or substantially all of the assets of such Party that has a credit rating of BBB- or better from Standard & Poor’s Financial Services, LLC (a subsidiary of S&P Global Inc.) or a Credit Rating of Baa3 or better from Moody’s Investors Services, Inc., if any, or (ii) to a Person who succeeds to the interests of the assigning Party by merger, consolidation, or operation of law; provided, in each such case, any such assignee shall agree in writing to be bound by the terms and conditions hereof and so long as the Item 1g
Attachment 1
Execution Version
30 transferring Party delivers such tax and enforceability assurance as the non-transferring Party may reasonably request and, in the case of TPS, the assignee possesses all licenses and expertise (including Scheduling Coordinator status) necessary to perform all obligations of TPS under this Agreement. Any purported assignment in contraventions of this Section will be null and void and the non-assigning Party is not obligated to recognize the purported assignment of this Agreement. This Agreement will be binding on, and inure to the benefit of any permitted, assigned, or successor of the assigning Party.

16.3 Governing Law; Jury Trial Waiver; Expenses. This Agreement and all matter and claims arising under or relating to this Agreement is governed by and construed in accordance with the laws of the State of California without regard to conflicts of laws principles. With respect to any suit, action or proceedings relating to this Agreement (“Proceedings”), each Party irrevocably submits to the exclusive jurisdiction of the courts of the State of California and the United States District Courts located in Santa Clara county, and waives any objection which it may have at any time to the laying of venue of any Proceedings brought in any such court, waives any claim that such Proceedings have been brought in an inconvenient forum and further waives the right to object, with respect to such Proceedings, that such court does not have any jurisdiction over such party. EACH

PARTY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY

RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION,

CLAIM OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY CREDIT SUPPORT DOCUMENT. EACH PARTY ACKNOWLEDGES THAT IT AND THE OTHER

PARTY HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

IF EITHER PARTY BRINGS ANY LEGAL ACTION TO ENFORCE ITS RIGHTS UNDER

THIS AGREEMENT OR SEEKS ENFORCEMENT UNDER THE TERMS OF ANY

CREDIT SUPPORT PROVIDED BY THE OTHER PARTY, THE PREVAILING PARTY

SHALL BE ENTITLED TO REIMBURSEMENT FROM THE OTHER PARTY OF REASONABLE ATTORNEYS’ FEES AND LITIGATION COSTS AND EXPENSES,

INCLUDING WITNESS FEES OF ANY KIND, IN AN AMOUNT TO BE DETERMINED BY THE APPLICABLE COURT OR BY AGREEMENT OF THE PARTIES.

16.4 Counterparts. This Agreement may be executed in multiple counterparts, including PDF documents exchanged by electronic mail, each one of which will be considered an original Agreement, but all of which together will constitute one and the same instrument.

16.5 Waiver. No waiver by any Party, either express or implied, of any one or more defaults by the other in the performance of any provisions of this Agreement will operate or be construed as a waiver of any other default or defaults, whether of a like or a different character. The rights and remedies of the Parties are cumulative and not alternative.

Neither any failure nor any delay by any Party in exercising any right, power or privilege hereunder will operate as a waiver of such right, power or privilege, and no single or partial exercise of any such right, power or privilege will preclude any other or further exercise of such right, power or privilege or the exercise of any other right, power or privilege. Failure by a Party to enforce any of the terms, covenants, conditions or other provisions of this Agreement at any time will not in any way affect, limit, modify or waive that Party’s right thereafter to enforce strict compliance with every term, covenant or condition of this Agreement, notwithstanding any course of dealing or custom of the trade.

16.6 Entire Agreement; Amendment. This Agreement contains the entire understanding and agreement between the Parties with respect to the subject matter of this Agreement and supersedes all previous communications, negotiations and agreements, whether oral or written, between the Parties with respect to such subject matter. No alteration of or Item 1g
Attachment 1
Execution Version
31 amendment to this Agreement will be effective unless in writing and signed by an authorized representative of each Party.

16.7 Severability. Any provision, article, or section declared or rendered unlawful by a court of law or regulatory agency with jurisdiction over the Parties, or deemed unlawful because of a statutory change, will not otherwise affect the other lawful obligations that arise under this Agreement. In the event any provision of this Agreement is declared invalid, the Parties will promptly negotiate to restore this Agreement as near as possible to its original intent.

16.8 Headings. The section headings of this Agreement are for convenience of reference only, and do not form a part of this Agreement, and do not in any manner modify, interpret, or construe the intent or agreement of the Parties.

16.9 Exclusion of Third Party Rights. The provisions of this Agreement will not impart rights enforceable by any Person or entity not a Party or bound as a Party hereto unless such Person or entity is a permitted successor or assignee of a Party bound by this Agreement, and the Parties do not intend to create any Third Party beneficiary under this Agreement, except to the extent (i) security interests in this Agreement have been granted to a Party’s lenders, and (ii) certain rights to raise contractual rights and/or defenses under this Agreement have been extended to a Party’s guarantor under any guaranty provided as Credit Support hereunder.

16.10 Recordings. Each Party consents to the recording and retention of any telephone conversations, e-mail or electronic message between the Parties related to this Agreement (“Recording”), and each Party will obtain any required consents to such Recordings from such Party’s affected personnel, contractors, or agents. Subject to other applicable rules of evidence, such as the rule of relevance, the contents of such Recording transmitted between the Parties concerning this Agreement, may be utilized to determine the intent of the Parties in any dispute arising under this Agreement, and such Recording will be deemed a written business record of any information, confirmation, consent, bid, authorization, instruction, notice, or Transaction under this Agreement, which may be submitted in evidence in any proceeding or action related to this Agreement. Each Party waives objection to the admission in court of such Recording based on the “Best Evidence Rule” or other legal principles. A written confirmation executed by both Parties will prevail over a Recording of a Transaction. Each Party waives any further notice of monitoring or recording and agrees to notify its officers and employees and obtain any required consent to any such monitoring or recording.

16.11 No Recourse to Members of SVCE. SVCE is organized as a Joint Powers Authority in accordance with the Joint Exercise of Powers Act of the State of California (Government Code Section 6500, et seq.) pursuant to its Joint Powers Agreement and is a public entity separate from its constituent members. SVCE shall solely be responsible for all debts, obligations and liabilities accruing and arising out of this Agreement. Seller shall have no rights and shall not make any claims, take any actions or assert any remedies against any of SVCE’s constituent members, or the employees, directors, officers, consultants or advisors or SVCE or its constituent members, in connection with this Agreement.

16.12 Imaged Agreement. Any original executed Agreement, confirmation or other related document may be photocopied and stored on computer tapes and disks (the “Imaged Agreement”). The Imaged Agreement, if introduced as evidence on paper, the confirmation if introduced as evidence in automated facsimile form, the Recording, if introduced as evidence in its original form and as transcribed onto paper, and all computer records of the foregoing, if introduced as evidence in printed format, in any judicial, Item 1g
Attachment 1
Execution Version
32 arbitration, mediation or administrative proceedings, will be admissible as between the Parties to the same extent and under the same conditions as other business records originated and maintained in documentary form. Neither Party will object to the admissibility of the Recording, the confirmation or the Imaged Agreement (or photocopies of the transcription of the Recording, the confirmation or the Imaged Agreement) on the basis that such were not originated or maintained in documentary form under the hearsay rule, the best evidence rule or other rule of evidence.

16.13 Joint Preparation of Agreement. The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event any ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provisions of this Agreement.

16.14 No Fiduciary Duty. Both Parties recognize the commercial nature of this Agreement and neither Party will owe any essential fiduciary duty to the other Party or any Third Party with respect to the performance of any of its obligations hereunder. The Parties hereby waive, to the fullest extent permitted by Applicable Law, any and all fiduciary duties that, absent such waiver, may be implied by law, and in doing so, recognize, acknowledge and agree that their duties and obligations to one another are only as expressly set forth in this Agreement. SVCE acknowledges and agrees that this Agreement shall not preclude TPS from providing services or making sales of a like nature to any other Person, either currently or in the future. TPS may, notwithstanding this Agreement, engage in whatever activities it may choose, including, without limitation, providing the same or similar sales or services in the same geographic region (or other competing activities) for its own account (or for the account of others). Neither this Agreement nor any activity undertaken related to this Agreement will prevent TPS from engaging in such activities or require TPS to disclose the same.

16.15 Survival of Contract Terms. In addition to Sections of this Agreement which specifically state that they shall survive the expiration or earlier termination of this Agreement, the Parties also agree that these General Terms and Conditions shall survive the expiration or earlier termination of this Agreement as and to the extent necessary to give proper effect to the intent of the Parties with respect to their respective rights and obligations arising prior to the termination of this Agreement.

16.16 No Public Utility Designation. Each Party agrees that it shall not claim in any bankruptcy proceeding related to such Party that the other Party is serving as a public utility for such Party by selling Energy or providing Services under this Agreement.

16.17 Non-Discrimination. During the performance of this Agreement, neither Party, or their Representatives, shall unlawfully discriminate against any person because of race, religious creed, color, sex, national origin, ancestry, physical disability, mental disability, medical condition, marital status, age (over 40), or sexual orientation, either in SVCE or TPS’s employment practices or in the furnishing of services to recipients. Both Parties shall ensure that the evaluation and treatment of their employees and applicants for employment and all persons receiving and requesting services are free of such discrimination. Both Parties and their Representatives shall, in the performance of this Agreement, fully comply with all Applicable Laws which prohibit discrimination. The provision of services primarily or exclusively to such target population as may be designated in this Agreement shall not be deemed to be prohibited discrimination.

Item 1g
Attachment 1
Execution Version
Exhibit A - 1

EXHIBIT A

RESOURCE INFORMATION, LOAD, AND SERVICE AREAS
Load:

PG&E DLAP Scheduling Point
Service Areas within the Load:

Campbell
Cupertino
Gilroy
Los Altos
Los Altos Hills
Los Gatos
Milpitas
Monte Sereno
Morgan Hill
Mountain View
Saratoga
Sunnyvale
Unincorporated Santa Clara County
Estimated Third Party Load Forecasting Fees1,2
Number of Load
Models Utilized
Anticipated Fee per
Year
Fee not to Exceed
per Year
1 $ 9,400 $ 11,000
2 $ 18,800 $ 22,000
3 $ 28,200 $ 33,000
4 $ 37,600 $ 44,000
5 $ 47,000 $ 55,000
6 $ 56,400 $ 66,000
1The actual fees will be Pass Through Amounts per Sections 2.6(d) and 5.4 of the Base Agreement. 2The fees will escalate each year at a 3% rate.

Resources:

A. Resources that will Require Scheduling:

Resource #1
Resource Name: Slate Solar Photovoltaic + BESS
Location: King County, California
Number of CAISO Resource IDs: 1
CAISO Resource ID: SLATE_2_SLASR2
Unit SCID: To be determined
Portion of total CAISO Net Qualifying
Capacity of Resource:
100%
Resource Type: Solar Photovoltaic coupled with BESS in a hybrid configuration
Capacity: 93 MW solar, 46 MW BESS
Delivery Point: At resource’s P-node
Facility PNode: SLATE_7_N002
Item 1g
Attachment 1
Execution Version
Exhibit A - 2
Transmission Owner: Pacific Gas & Electric Company
PPA Term (Years) 17 years
Fixed Monthly Fee: $6,000
Resource #2
Resource Name: Rabbitbrush Solar Photovoltaic + BESS
Location: Kern County, California
Number of CAISO Resource IDs: 1
CAISO Resource ID: RATSKE_2_RBSSB2
Unit SCID: To be determined
Portion of total CAISO Net Qualifying
Capacity of Resource:
100%
Resource Type: Solar Photovoltaic coupled with BESS in a hybrid configuration
Capacity: 40 MW solar, 8 MW BESS
Delivery Point: At resource’s P-node
Facility PNode: RATTLSNK_7_RB2N002
Transmission Owner: Southern California Edison Company
PPA Term (Years) 15 years
Fixed Monthly Fee: $6,000
B. SVCE’s Resources That Will Not Require Scheduling, but will Require Monitoring Resource #3
Resource Name: Coso Geothermal
Location: Inyo County, California
Number of CAISO Resource IDs: 3
CAISO Resource ID: BLM_2_UNITS, CALGEN_1_UNITS,
NAVYII_2_UNITS
Unit SCID:

Portion of total CAISO Net Qualifying
Capacity of Resource:
100%
Resource Type: Geothermal
Capacity: 44.4 MW (degrades by year, step down to about

29.6 MW/yr in 2027)
Delivery Point: Any or all of the following PNodes (CAISO Pnodes: POD_CALGEN_1_UNITS- APND;
POD_NAVYII_2_UNITS-APND;
POD_BLM_2_UNITS-APND), allocated in
accordance with ordinary business practices
which generally means Seller shall use
commercially reasonable efforts to allocate the
Delivered Energy in the same proportion to how
the Facility Energy is allocated among the
PNodes; provided, nothing herein shall prevent
Seller from reallocating Delivered Energy in light
of actual operating conditions as they occur.

Facility PNode: See “Delivery Point”
Transmission Owner: Southern California Edison Company
PPA Term (Years) 15 years
Fixed Monthly Fee: $1,200 for Monitoring plus $1,500 for IST Scheduling
Item 1g
Attachment 1
Execution Version
Exhibit A - 3
SERVICE FEE SCHEDULE IN 2024 FOR GENERIC RESOURCES1:

Costs on a per unit Set Up Fee Monthly Fee
Set Up4 $ 5,000 N/A
Telemetry $ -
TPS will pass through any actual
monthly cost for communication
channels needed between the Facility
and TPS’s primary and backup
operation centers without markup.

Scheduling and Outage
Management (2 or less
Resource IDs) 2, 3
$ - $ 6,000.00
Scheduling and Outage
Management (3 or 4
Resource IDs)2, 3
$ - $ 8,000.00
Scheduling and Outage
Management (5 or 6
Resource IDs)2, 3
$ - $ 10,500.00
Scheduling and Outage
Management (7 or more
Resource IDs)2, 3
$ - To be discussed between the Parties
Monitoring Only
Services 2, 3 $ - $ 3,000.00
Non-CAISO Resource
Scheduling and E-Tag5 $ 5,000 $ 12,000.00
Non-CAISO Inter-Tie
Energy Scheduling and
E-Tag6
$ 1,000 $ 3,000.00
Monitoring Resources
that Require IST
Scheduling
$ - $ 1,000.00
1This service fee schedule is for informational use only and applies to Resources yet to be named by SVCE during the Term of this Agreement. Any fees for services not currently included in Section 5 of the Base Agreement will be memorialized in an amendment to this Agreement.

2Fixed Monthly Fee will increase annually by the CPI-U (minimum 2%).

Item 1g
Attachment 1
Execution Version
Exhibit A - 4
3 Pricing provided is for technology types currently online or expected to come online based on the Resources List provided by the Joint Agencies (solar, solar + storage, standalone storage, geothermal, and wind). TPS has experience with all technology types and could provide services to other resource types as agreed upon by the Joint Agencies and TPS. 4 Fee will be assessed on a per Resource basis.
5 An example of this type of Resource would be WAPA Base Resource. 6 An example of this type of Transaction would be an Energy purchase at the Palo Verde Inter-Tie.

Item 1g
Attachment 1
Execution Version
Exhibit B - 1

EXHIBIT B

NOTICE INFORMATION
TENASKA POWER SERVICES CO. SILICON VALLEY COMMUNITY ENERGY

AUTHORITY
Notice Address: Notice Address:

Attn: Attn:

Phone: Phone:

Facsimile: Facsimile:

Email: Email:

CICI Number: CICI Number:

CFTC Designation: CFTC Designation:

Duns: Duns:

Federal Tax ID Number: Federal Tax ID Number:

Confirmations: Confirmations:

Real-Time Trading: Real-Time Trading:

Payments: Payments:

Invoices: Invoices:

Wire/ACH Transfer: Wire/ACH Transfer:

Credit and Collections: Credit and Collections:

With additional Notices of an Event of Default
or Potential Event of Default to:

With additional Notices of an Event of Default or
Potential Event of Default to:

Item 1g
Attachment 1
Execution Version
Exhibit C - 1

EXHIBIT C

SUPPORT SERVICES
In addition to those activities described in Section 2.8 of the Base Agreement, TPS will (with SVCE’s cooperation as necessary):

1. determine, establish and implement the necessary communication methods, operational information technology and interfaces with CAISO including for purposes of transmitting Real-Time telemetry from the Resources and Load to TPS’s primary and backup operation centers;

2. establish itself as the Scheduling Agent for the Resources and Load within the Service Areas;

3. if applicable, specify, install, configure, and test all required interface equipment needed to acquire and transmit CAISO-required Real-Time telemetry;

4. provide such other assistance with respect to the Documentation as SVCE may reasonably require; and

5. assist SVCE with the CAISO New Resource Implementation (NRI) Checklist as SVCE may reasonably require.

Item 1g
Attachment 1
Execution Version
Exhibit D - 1

EXHIBIT D

CRR SERVICES
TPS will provide information to assist SVCE with CRR nominations and Bids in accordance with the following procedures and requirements. Final selection of any CRRs to nominate, bid, or offer upon, and their associated volumes and/or prices will be at SVCE’s sole discretion. (1) TPS’s consultation will consist of a standard CRR data set for each monthly process and each annual process, along with one monthly scheduled phone call to discuss questions and strategies. The analysis will include various historical and market information/calculations, and certain limited forecast information prior to the auction process. Inputs for any forecast analysis will be consistent with the latest base case inputs in TPS’s network modeling system. Additional forecast scenarios may be completed at an agreed-upon cost. (2) CRR support is intended to minimize congestion costs for SVCE. Analysis for CRR nominations and Bids is to be limited to:
a. paths sourcing SVCE’s resource nodes or supply-source nodes (e.g., PPA delivery points) to the SVCE DLAP for the purposes of hedging,
b. paths related to other hedge positions SVCE may need to manage in the CRR market (e.g., trading hub to DLAP or scheduling point to DLAP),
c. paths allocated to SVCE by CAISO in relation to load migration (i.e., CRRs of type LSE-LMT), or d. paths sinking to the SVCE DLAP, for the purpose of utilizing volumes which remain unused after completion of hedging nominations.
(3) Delivery of TPS’s standard CRR data set and recommended nominations will be made available to SVCE in a mutually agreeable format. The methodology for recommending nominations will be at TPS’s discretion.
(4) Delivery of SVCE’s selected nominations and Bids back to TPS will be in a format consistent with submission to the CAISO CRR portal, currently XML format or a format easily converted to XML.
(5) The total number of nominations, for any round of any annual or monthly allocation process, will be limited to the number of records allowable in one (1) submission file, as defined in the CAISO Agreements (currently equal to 1,000 records).
(6) For the annual CRR allocation and auction processes, TPS will provide its standard data set for the tier 1 allocation round no later than end of Day on the Day that is one week after CAISO has posted the source and sink list, source and sink upper bound data, priority nomination process signature data, and corresponding Seasonal CRR Eligible Quantity. For each remaining allocation round (if applicable), TPS will provide its standard data set no later than end of Day on the Day that is two (2) Business Days prior to the opening Day of the round. This applies to Tier LT, tier 2 and tier 3 nominations, as such terms are used in the CAISO Agreements. For the CRR Auction (if applicable), TPS will provide a new or refreshed data set for the CRR Auction process no later than end of Day on the Day that is three (3) Business Item 1g
Attachment 1
Execution Version
Exhibit D - 2
Days prior to the opening Day of the bid window. In each case, SVCE must provide its selection of CRR nomination volumes or bid/offer volumes and prices to TPS no later than end of day on the first Day of the open submission window.
(7) For the monthly CRR allocation and auction processes, TPS will provide its standard data set for the tier 1 allocation round (if applicable) no later than end of Day on the Day that is two (2) Business Days after CAISO posts the corresponding Monthly CRR Eligible Quantity (MEQ).

For the tier 2 nominations and the CRR Auction (if applicable), TPS will provide a new or refreshed data set no later than end of Day on the Business Day prior to the opening Day of the process window. In each case, SVCE must provide its selection of CRR nomination volumes or auction Bids and offers to TPS no later than 12:00 pm PPT on the first Day of the submission window.
(8) In the event that SVCE’s submission file is not received by the deadlines specified above, TPS will use commercially reasonable efforts to make submissions to the CAISO portal.

Item 1g
Attachment 1
1 300 E. John Carpenter Freeway
Suite 1100
Irving, Texas 75062
November __, 2024
Silicon Valley Clean Energy Authority
333 W. El Camino Real
Suite 330
Sunnyvale, CA 94087
Attn: Monica Padilla
RE: Letter Agreement for WAPA Base Resource Scheduling Services Dear Ms. Padilla,
This letter agreement (“Letter Agreement”) is entered into as of November __, 2024 (the “Effective Date”) by and between Tenaska Power Services Co. (“TPS”) and Silicon Valley Clean Energy Authority (“SVCE”). Each of TPS and SVCE may be referred to in this Letter Agreement individually as “Party” and collectively as the “Parties”.

The Parties previously entered into that certain Scheduling Coordinator Agreement dated as of March 13, 2024, as amended from time to time (the "SCA"). Pursuant to the SCA, TPS provides certain Scheduling Coordinator services for SVCE's Resources located in the CAISO and WECC markets.

TPS and SVCE are entering into this Letter Agreement in order to add scheduling services for SVCE’s share of certain WAPA Base Resources, as defined and described herein. This Letter Agreement is ancillary to the SCA.

Now, therefore, in consideration of the foregoing, together with other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each Party, TPS and SVCE agree as follows:

1. WAPA Base Resource Scheduling Services. For the Resources listed in Exhibit A of this Letter Agreement, the Parties agree that TPS shall perform the WAPA Base Resource Scheduling Services as described in Exhibit B hereto.

2. Additional Definitions.
“CAISO Balancing Authority Area” shall have the meaning given that term in the CAISO Agreements.
“Displacement Program” shall mean the program that allows WAPA direct connect customers to receive part of the WAPA Base Resource, first preference customers, or project-use load that would otherwise be imported into CAISO or the CAISO Balancing Authority Area by non-direct connect customers. In return, the Energy that the direct connect customers would otherwise export from CAISO is left in the CAISO Balancing Authority Area and scheduled as a resource for the non-direct connect customers.

Item 1g
Attachment 2
Tenaska Power Services Co.
2 “NERC E-Tag” shall mean a request submitted in electronic format to the appropriate control area or transmission provider, containing required identifying information for a given schedule to transfer Energy, in order for the control area or transmission provider to schedule the transfer of Energy involved in such schedule to transfer Energy. “Samba DP” shall mean the entity that manages the Displacement Program for WAPA via submission of proposed and allocated schedule amounts.
“Shaping” shall have the meaning set forth in Exhibit B hereto. “WAPA” shall mean the Western Area Power Administration. “WAPA Base Resource” shall mean the power that WAPA markets from its federal hydroelectric projects. This power includes both capacity and Energy but does not include transmission services. The WAPA Base Resource is typically allocated to WAPA’s long-term firm power customers under specific marketing plans. “WAPA Base Resource Scheduling” shall mean the process to schedule the WAPA Base Resources, as described in Exhibit B hereto.
“WAPA Portal” shall mean the user interface used to access the WAPA Base Resource information.

3. WAPA Base Resource Scheduling Services Fee. For performance of the WAPA Base Resource Scheduling Services described herein, SVCE shall pay TPS a Monthly fee equal to the sum of the rates set forth in Exhibit A hereto, in arrears and prorated for any partial Month of Service, beginning with TPS’s first Monthly invoice issued following the Effective Date of this Letter Agreement and continuing through the Term of this Letter Agreement. If the term of this Letter Agreement extends for a year or more, then the fees listed in Exhibit A shall increase by the Escalator (as defined in the SCA) on the first Day of the Month of each anniversary of the Effective Date.

4. Term. The Services described herein shall be in effect from the Effective Date of this Letter Agreement and will continue for a period of thirty (30) Days from the Effective Date (“Initial Letter Agreement Term”). Thereafter, this Letter Agreement shall automatically continue on a Month-to-Month basis (each such Month, a “Renewal Letter Agreement Term”), unless either Party notifies the other Party of its election not to renew this Letter Agreement no later than thirty (30) Days before the expiration of the Initial Letter Agreement Term or any Renewal Letter Agreement Term (as applicable).

This Letter Agreement shall become effective as of the date first specified above (the “Effective Date”) and shall terminate in accordance with Section 4 hereof, provided that the terms herein shall survive to the extent necessary to effectuate the purposes of this Letter Agreement. The terms of the SCA shall apply to and govern this Letter Agreement; provided, however, in the event of any direct and irreconcilable conflict between the terms of this Letter Agreement and the terms of the SCA, the terms of this Letter Agreement shall control with respect to the subject matter and purposes described herein.

The Parties acknowledge and agree that SVCE is solely entitled to its share of the WAPA Base Resource and Section 6.2 of the General Terms and Conditions in the SCA does not apply to this Letter Agreement. Subject to the immediately preceding sentence, this Letter Agreement constitutes the entire agreement between the Parties with respect to the subject matter herein and supersedes all prior agreements, understandings and negotiations, both oral and written, between the Parties with respect to such subject matter. Each Party represents and warrants that the execution and delivery of this Item 1g
Attachment 2
3 Letter Agreement have been duly authorized by it and that this Letter Agreement is a valid and legal agreement and enforceable in accordance with its terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general application, regardless of whether enforcement is sought in a proceeding in equity or at law). Each person signing this Letter Agreement represents and warrants that he or she is duly authorized and has legal capacity to execute and deliver this Letter Agreement. Capitalized terms used but not defined in this Letter Agreement shall have the meanings ascribed to them in the SCA. This Letter Agreement may be executed in multiple counterparts, including electronic means, each of which will be deemed to be an original and taken together shall be considered as one document. This Letter Agreement constitutes Confidential Information within the meaning of the SCA.

If you are in agreement with the terms of this Letter Agreement, please acknowledge and sign this Letter Agreement where indicated below, and return one executed copy of this Letter Agreement to me for TPS’s files.

Very truly yours,
Kevin R. Smith
President
Tenaska Power Services Co.

Acknowledged and Agreed to on November __, 2024

SILICON VALLEY CLEAN ENERGY AUTHORITY
By:

Name: Monica Padilla
Title: CEO

APPROVED AS TO FORM
By:

Name: Michael Callahan
Title: General Counsel
Item 1g
Attachment 2
Exhibit A - 1

EXHIBIT A

RESOURCES REQUIRING WESTERN BASE RESOURCE SCHEDULING
Resource #1
Resource Name: Central Valley Project
Location: WAPA-Sierra Nevada Region Sub-Balancing
Authority Area within BANC
Number of CAISO Resource IDs: Intertie Import Resource IDs - SC to use TRCYPGAE, TESLA230,
CTW230 intertie scheduling points
Unit SCID: TBD
- to be used in the registration of
Intertie Import Resource IDs
Portion of total CAISO Net Qualifying
Capacity of Resource:
n.a.

Resource Type: Non-Resource Specific System Resource – self-scheduled into CAISO through Intertie Import resource
Capacity: Based on customer’s Base Resource allocation
percentage
Delivery Point: Tracy 500-kV, Tracy 230-kV, or Cottonwood 230-kV; that is, TRCYPGAE, TESLA230, or
CTW230 intertie scheduling points, respectively
Facility PNode: Applies to the Intertie Import resource:

IBAA Pricing
TRCYPGAE – CAPTJACK_5_N505
TESLA230 – CAPTJACK_5_N506
CTW230 – CAPTJACK_5_N510
MEEA Pricing
TRCYPGAE – WAPAMEEA3_ON_ASR-APND, WAPAMEEA3_OFF_ASR-APND TESLA230 – WAPAMEEA2_ON_ASR-APND, WAPAMEEA2_OFF_ASR-APND CTW230 – WAPAMEEA1_ON_ASR-APND, WAPAMEEA1_OFF_ASR-APND
Transmission Owner: CVP to Delivery Point: WAPA
Delivery Point to load: PG&E (CAISO)
PPA Term (Years): 30
Fixed Monthly Fee: $12,000
Item 1g
Attachment 2
Exhibit B - 1

EXHIBIT B

WAPA BASE RESOURCE SCHEDULING
TPS shall schedule the Resources listed in Exhibit A as follows (the “WAPA Base Resource Scheduling”):

A. WAPA Base Resource Nomination (WAPA Portal):
- Pull the allocated WAPA Base Resource share from the WAPA Portal (allocation comprises of a total WAPA Base Resource MWh daily Energy value, and hourly min/max WAPA Base Resource MW constraints).
- Based on allocated WAPA Base Resource share, determine an optimized WAPA Base Resource schedule and submit hourly WAPA Base Resource nomination request to WAPA Portal (“Shaping”).
- Submit hourly load forecast to WAPA Portal.
- Pull hourly WAPA Base Resource schedules from WAPA Portal.

B. Displacement Program (SambaDP): The Displacement Program is not active all year round. The following activities are only necessary if the Displacement Program is active:
- Submit WAPA Base Resource schedules for participation in Displacement Program to SambaDP.
- Pull post-displacement WAPA Base Resource schedules and Inter-SC Trades from SambaDP.

C. CAISO Scheduling:
- Submit import schedules for WAPA Base Resource schedules. - Select inter-tie scheduling point (monitor the transmission line ratings). - Prepare and submit NERC E-Tags.
- Submit Inter-SC Trades (only required when Displacement Program is active).

Item 1g
Attachment 2

Page 1 of 2 ends

Staff Report – Item 1h
Item 1h: Receive Executive Committee Report
To: Silicon Valley Clean Energy Board of Directors
Prepared by: Larry Klein, Executive Committee Chair
Date: 11/13/2024
The Executive Committee met October 25, 2024 with all members present and considered the following: 1) a request to recommend the SVCE Board of Directors adopt SVCE’s long-term clean targets, 2) a request to recommend approval of SVCE’s participation in the California Public Utilities Commission Hourly Flex Pricing pilots, 3) a request to recommend approval of the GreenPrime product and rate methodology, and 4) a request to recommend approval of a delegation of authority to allow the Chief Executive Officer to purchase carbon-free nuclear energy for 2025- 2027.

Maren Wenzel, Director of Regulatory, Policy and Planning, presented information and a recommendation for SVCE’s future clean targets which, in summary, included: 75% RPS/106% Clean measured annually for 2030 – 2034; new target 100% RPS/106% Clean measured annually for 2035-2045; and to allow for a 10% margin of error on targets to help manage risk. The Executive Committee had a robust discussion on staff’s recommendation and voted unanimously to support it. As a reminder, this discussion is a follow up from the September Board of Directors meeting on clean pathways and the results of the 24x7 study performed by E3.

Staff will present the recommendation to the Board of Directors at the November board meeting for consideration.

Citlalli Sandoval, Senior Regulatory Advisor, and Beth Trenchard, Communications Consultant, presented a request for the Executive Committee’s support to recommend that the Board of Directors approve SVCE’s participation in the California Public Utilities Commission’s (CPUC) Hourly Flex Pricing (HFP) pilot program. This HFP pilot is a CPUC-designed and PG&E-administered pilot program, which will benefit customers and help SVCE and regulators learn more about hourly rate implementation, and will help SVCE execute on the contents of the SVCE Load Management Standards (LMS) Compliance Plan that was approved by the Board of Directors in March 2024. The HFP pilots each focus on shifting usage for certain customer segments, all share the same CPUC-directed hourly pricing incentive structure, and add to demand flexibility efforts. The Executive Committee unanimously supported staff’s recommendation, which will be presented to the Board of Directors in November.

Don Bray, Director of Strategic Development, and Zak Liske, Deputy Director of Power Resources, presented a recommendation for the Executive Committee to support the SVCE Board of Directors approving changes to the GreenPrime program starting in 2025. The changes proposed are to reprice the GreenPrime premium over GreenStart to be based on updated methodology, which would balance portfolio renewable energy credit (REC) value with marginal REC cost, and to cap participation at 200 GWh per year and 20 GWh per customer per year. The Executive Committee unanimously voted to support staff’s recommendation as well as include this item on the Consent Calendar for November’s board meeting.

Kris Van Vactor, Director of Power Resources, requested the Executive Committee support recommending the Board of Directors approve a delegation of authority allowing CEO Monica Padilla to purchase carbon-free Item 1h

SILICON VALLEY

CLEAN ENERGY
Agenda Item: 1h Agenda Date: 11/13/2024

Page 2 of 2 ends

nuclear energy for 2025-2027. The conditions to the request were: Delivery in calendar years 2025-2027; Paid volume not to exceed 750,000 MWhs per year; Executed with any counterparty via a WSPP agreement, and; expected dollar amount of $10.8M per year. Staff outlined that approving this request would allow SVCE more flexibility in purchasing nuclear carbon free attributes beyond the approved 2025, and SVCE will further define Carbon Free to align with SB100 defined resources which includes large hydro and nuclear. The Executive Committee voted unanimously to support staff’s recommendation and to place this item on the Consent Calendar for November’s board meeting.

Materials from this meeting can be found on SVCE’s website: SVCE Executive Committee Meeting, October 25, 2024
The next meeting of the Executive Committee will be November 22, 2024 at 1:00 p.m.; materials will be posted no later than 72 hours in advance of the meeting.

Item 1h

Page 1 of 1 ends

Staff Report – Item 1i
Item 1i: Receive Audit Committee Report
To: Silicon Valley Clean Energy Board of Directors
Prepared by: Bryan Mekechuk, Chair, Audit Committee
Date: 11/13/2024
The Audit Committee met on Monday October 21, 2024 with all members present and considered the following:
kick-off of the annual SVCE financial audit, SVCE’s policy review update, and an update in Closed Session on the topic of threat to public services and facilities.

Committee members present at the meeting included Alternate Director Sergio Lopez (City of Campbell), Sheila Mohan (City of Cupertino), Committee member Harjot Sangha (City of Gilroy), and Bryan Mekechuk (City of Monte Sereno). Three Committee members participated in person, and one was remote.

Amrit Singh, CFO and Director of Administrative Services, introduced the external financial auditors Kellin Gilbert, Audit Partner, and Aliandra Schaffer, from Pisenti & Brinker LLP to the Committee. Mr. Gilbert provided a presentation on the upcoming audit for the year ended September 30, 2024, which included an overview of SVCE’s planned audit procedures. He further stated that the issuance of financial statements will occur by January 31, 2025. Mr. Gilbert discussed the timing of future Audit Committee meetings and coordination with the Committee Chair to facilitate questions relating to the audit.

The next item discussed at the Audit Committee meeting was presented by Michael Callahan, General Counsel, regarding SVCE’s policy approval process. He stated that staff was undergoing a policy update project, in which amendments to finance related policies would be presented to the Finance and Administration Committee in November 2024 and other policies would be presented to the Executive Committee in November 2024, and subsequently presented to the Board of Directors in December 2024.

The last item discussed at the Audit Committee meeting was presented in a Closed Session by Nik Zanotto, Senior Manager of Information Technology and Administrative Services on the topic of Threat to Public Services and Facilities. There were no reportable actions as a result of this item.

Materials from this meeting can be found at the following link: SVCE Audit Committee Meeting, 10/21/24 The next meeting of the Audit Committee will likely be in February 2025 and determined by Audit Committee member availability. Materials will be posted no later than 72 hours in advance of the meeting.

Item 1i
SILICON VALLEY \3/ CLEAN ENERGY

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Staff Report – Item 1j
Item 1j: Receive 2024 Legislative Response to Industry Transition Ad Hoc Committee Report To: Silicon Valley Clean Energy Board of Directors
Prepared by: Yvonne Martinez Beltran, Committee Chair
Date: 11/13/2024
The last Legislative Response to Industry Transition 2024 Ad Hoc Committee of the year was held on October 24, 2024.

The committee received information from staff on the state and federal legislative landscape and discussed priority legislation aligned with SVCE’s 2024 Legislative Policy Platform and focus areas. The committee discussed the proposed 2025 Legislative Policy platform, which will be provided to the Board of Directors at the December 11, 2024 Board of Directors meeting for consideration.

Item 1j

SILICON VALLEY

CLEAN ENERGY

Page 1 of 1 ends

Staff Report – Item 1k
Item 1k: Receive Finance and Administration Committee Report To: Silicon Valley Clean Energy Board of Directors
Prepared by: Andrea Pizano, Sr. Executive Assistant and Board Clerk Date: 11/13/2024
There is no report from the Finance and Administration Committee as they have not met since the last report.

The next meeting of the Finance and Administration Committee is scheduled for November 25, 2024 at 3:00 p.m.; materials will be posted 72 hours in advance of the meeting at: https://svcleanenergy.org/finance-admin/.

Item 1k

SILICON VALLEY

CLEAN ENERGY

Page 1 of 1 ends

Staff Report – Item 1l
Item 1l: Receive California Community Power Report
To: Silicon Valley Clean Energy Board of Directors
From: Monica Padilla, CEO
Date: 11/13/2024
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, October 16, 2024. The CC Power Board of Directors also attended a workshop on October 28, 2024 at the UC Davis, Energy and Efficiency Institute to receive a tour of the Western Cooling Center and discuss near and long-term planning for CC Power.

Attached is an October summary report from General Manager Alex Morris; materials from the October board meeting can be found here on the CC Power website: CC Power Meeting, 10/16/24.

The next meeting of the board will be November 20, 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, October 16, 2024 Item 1l
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: 10/21/24 FROM: Alex Morris – General Manager
SUBJECT: Report on CC Power Regular Board of Directors Meeting – October 16, 2024 The CC Power Board of Directors held its October Board Meeting on October 16, 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. Chairperson Geof Syphers (Sonoma Clean Power) notified the Board of a plan to possibly seek Board review or approval in November or December 2024 of a contract extensions for the General Manager • Public Comment. None.
• Consent Agenda - The Board approved the following items:
o Minutes of the Regular Board Meeting held on August 21, 2024. o Receipt of CC Power 2023-2024 Financials
• Regular Agenda Items:
o General Manager Report – the Board heard updates on numerous ongoing or upcoming work-items, including the robust response of 81 bids to CC Power’s current power project solicitation, the CC Power 10/28 Board Fall Forum event in Davis, CA which will kick-start a strategic plan update, the 11/13 in-person CC-Power led meeting to explore and understand the CADEMO offshore wind project, and the timelines and process by which CC Power will further assess and seek ‘go/ no-go' interest from members to actively explore development of a multi-CCA RA Power Pool. The General Manager also highlighted the positive performance seen in Fiscal Year 2023-2024 and how excess savings from that year may both reduce future reserve-build goals and reduce current year project funding needs. o New Member Considerations – Discussion Item – the Board discussed what policies or other ‘readiness’ steps might be appropriate for CC Power to enact prior to adding new members. Several CCAs have requested membership to date. Board members are requested to provide written feedback or suggestions, if any, to General Manager Morris.
o Build Transfer and Related Solicitation Update – CC Power staff briefed the Board on the positive general results and array of offers from the recent power-Item 1l Attachment 1
2 project solicitations and laid out a tentative timeline for moving to the next phase of work (Phase 2b) in which interested members will negotiate to finalize and enter contracts, if acceptable, with select projects. Prior to any Phase 2b, members are requested to express interest in projects so that CC Power can pursue exclusivity arrangements with projects. CC Power expects to bring proposals for Phase 2bs on target projects, if any, in November, December, or January. CC Power plans to release all non-short-listed projects back to the market on October 18, 2024. o Resolutions 24-10-01 – Approval of California Community Power Policies – Default Project Allocation Policy. No vote was held as this resolution was tabled.

The Resolution laid out a default project allocation model which could be used to help projects move forward when oversubscribed. The Board recommended further language in the policy to emphasize the intended backstop nature of the policy. • Closed Session Items:
o The Board heard reports on two projects. No Board action was taken. • Public Comments on Closed-Session Items: none
Item 1l
Attachment 1

Page 1 of 5 ends

Staff Report – Item 2
Item 2: CEO Report
To: Silicon Valley Clean Energy Board of Directors
Prepared by: Monica Padilla, CEO
Date: 11/13/2024
REPORT
Staff Updates – Promotions
One of SVCE’s Strategic Focus Areas and a high priority of mine is to retain and develop employees. This last month we were fortunate to identify several employees worthy of promotions including:
• Kathy Chai has been promoted to Power Settlements Planner in the Power Resources & Operations (PRO) department. Kathy has been a Senior Financial Analyst in the F&A department since late 2023 where she’s handled a variety of assignments including cash management, invoice and wire review, budget and accounting support. We are looking forward to Kathy’s continued contributions to SVCE’s mission from a new focus point in the organization.
• Hannah Gustafson is moving from Senior Programs Specialist to Programs Lead. Hannah has made significant contributions to our Transportation Electrification programs, which have led to nearly 160 charger installations in our service territory. She brings sophistication to her work and deep knowledge of EV infrastructure, which has been recognized across her team, department, and outside our organization. • Leanna Huynh is also moving from Senior Programs Specialist to Programs Lead. Leanna successfully leads two of our largest programs, bringing huge impact on advancing SVCE's decarbonization for all vision, as they focus on bringing low-income customers into the realm of decarbonization. She is actively shaping SVCE's work on incorporating equity into programs, and has been seen as a valuable collaborator not only by her colleagues within the team and department, but also at other CCAs, utilities, and regional agencies.
• Kaley Dodson is moving from Energy Services Specialist to Senior Energy Services Specialist. Kaley has climbed a huge learning curve to become a critical resource for SVCE, providing direct support to customers and customer operations. She has been recognized for being extremely effective and collaborative in her role. She continues to take initiative on larger projects cross-functionally. Her approach is proactive and her industry knowledge has grown tremendously, leading her to a senior level role.
• Leslie Madarang is moving from Marketing Specialist to Senior Marketing Specialist. Leslie continues to exceed expectations and grow even as her responsibilities increase. She is always diligently tracking and meeting her goals, including successfully managing eHub, our online customer resource center and leading the development of eHub 2.0, which is a massive accomplishment. • Michaela Pippin is moving from Principal Communications Specialist to Communications Manager. Over the years, Michaela has continued to take on more responsibility with our comprehensive strategic communications work. She is a strong and effective leader in the MarComm team and is spearheading communications for our upcoming dynamic customer rate programs.

Item 2
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 2 Agenda Date: 11/13/2024

Page 2 of 5 ends

• Brett Sirianni is moving from IT Analyst to Senior IT Analyst. Brett’s dedication to his role has been vital to our cyber security and overall success. He tirelessly pushes us forward and has helped accelerate our project roadmap. He is an invaluable addition to the team, always willing to meet challenges and exceeding expectations.
• Owen Milligan is moving from Associate Power Analyst to Power Analyst. He is currently successfully leading SVCE's transition to the new Slice of Day RA framework. He is extremely effective, consistently goes above and beyond his required duties, and has served as an amazing collaborator, always willing to train, teach and assist the entire Front Office team on SVCE processes and more. • Adam Pearse is moving from Regulatory Analyst to Senior Regulatory Advisor. Over his first year at SVCE, he has quickly integrated himself in the team and come up to speed in this new expertise. He also is always collaborative and willing to share his knowledge and experience cross-functionally for the benefit of the agency.

Personnel Officer Update
Recruitment efforts continue for an IT Analyst and a Human Resources Administrative Assistant in the Finance and Administration Department, with the new addition of Senior Financial Analyst to backfill for a promotion.

Job descriptions and applications can be found on SVCE’s website: Current Job Openings Clean Energy Update
In October, the CEO and staff visited two SVCE-contracted renewable projects.

The first site visit was to the SunZia Wind and Transmission project located in New Mexico - the largest clean energy infrastructure project in the U.S., according to the project developer. The project is expected to come online in 2026, SVCE will receive 100MW under a 15-year power purchase agreement. This project is unique because it will not only provide clean, renewable power, but it also includes a brand-new transmission line connecting from New Mexico to a hub in Arizona connected to the California Independent System Operator.

Increasing transmission to out of state resources is key in securing diverse and affordable power portfolios to reach California’s 2045 carbon neutrality goal. SVCE is one of nine other CCAs contracted for this project that will add a total of 3,500 MW of new clean capacity to the grid, showcasing how we procure out of state resources in large volumes.

Next, the CEO and staff were joined by Chair Walia and Director Mekechuk in Palm Springs for the Victory Pass ribbon cutting. This solar and storage facility is a new-build project that marks the eight long-term project to begin providing clean power to SVCE. SVCE is receiving 100MW of solar capacity and 25MW of battery capacity from this project – enough electricity to power 58,000 homes.

Staff continues its procurement efforts to source clean energy for calendar years 2024 and 2025. A new opportunity to potentially procure carbon-free nuclear energy for 2025-2027 is being provided to the Board at its November 2024 meeting. If approved and executed clean positions for the corresponding years will be at least 100%. The agency is currently expected to hit ~80% clean for 2024 and ~83% for 2025.

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

Decarbonization Programs and Policy and Energy Services & Community Relations Updates The latest Decarbonization Programs Quarterly Report is included on the Consent Calendar (Item 1d), which highlights progress made on programs last quarter in addition to planned targets for the next quarter.

The community relations team has opened the annual call for student sponsorships. With a commitment to reinvesting locally, SVCE provides funding for students who are advancing decarbonization, electrification, and Item 2
Agenda Item: 2 Agenda Date: 11/13/2024

Page 3 of 5 ends

innovation through the Student Sponsorship program (formerly known as the Youth Education Fund). Since its launch in 2019, this program has sponsored kindergarten through community college students to engage in creative problem-solving aimed at reducing our dependence on fossil fuels while aligning with the SVCE mission. Examples of funded projects include hybrid vehicle batteries and youth climate education conferences. To explore more past projects, click here.

Please see Attachment 2 for a recap of our community engagement and marketing efforts this past month, including upcoming events where the SVCE Dream Home will be in the community.

Regulatory & Legislative Update
On October 30, 2024, the Governor released an Executive Order on energy bill affordability. The Executive Order asks the California Public Utilities Commission (CPUC) and the California Energy Commission (CEC) to identify underperforming programs administered by or overseen by the CPUC and CEC, the California Air Resources Board (CARB) to determine ways to maximize the California Climate Credit funded by Cap-and-Trade, and the Office of Energy Infrastructure and Safety to evaluate wildfire safety oversight practices and ensure mitigation measures are cost-effective.

The California Energy Commission has adopted the 2025 Building Code. Jurisdictions must adopt the code by December 31, 2025. It goes into effect, January 1, 2026. The code makes big strides in cost-effectively advancing electrification. Heat pump water heaters and heat pump HVAC will be the baseline standard for most buildings.

Buildings can still legally be built with gas water heating and space conditioning, but it will often be more expensive. EV charging requirements for new multifamily have also been improved. Jurisdictions have the option to add enhancements to their local code. SVCE staff is working with each individual agency to create a tailored strategy and is available to discuss as needed with Board Directors.

Attachment 3 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 December 2024 through February 2025, please refer to Attachment

4. ATTACHMENTS

1. Clean Power Update, November 2024

2. Energy Services & Community Relations Update, November 2024

3. Regulatory and Legislative Update, November 2024

4. Agenda Look Ahead, December 2024 – February 2025
Item 2
Agenda Item: 2 Agenda Date: 11/13/2024

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Exhibit 1 - CEO Agreements Executed
The following agreements have been executed by the CEO, consistent with the authority delegated by the Board:
1) NP Energy, LLC, Amendment: Management and Policy Consulting, extends term to 9/30/25 2) DataSpaceDigital, Amendment: Website Analytics Improvements, not to exceed $4,980, extends term to 4/18/25
3) City of Campbell, Amendment: Community Resilience Program – Capital Projects Agreement 4) SMUD, Task Order: FutureFit Homes Program Support, not to exceed $293,350, 5/31/25 5) ARUP, Amendment: Electrification Solution Analysis, extends term to 6/1/25 6) City of Cupertino, Amendment: Decarbonization Grant Program Agreement, extends term to 12/31/26 7) S&P Global Market Intelligence, Subscription: MSA – subscription, not to exceed $75,660, 10/22/24 – 10/21/27
8) Karbone, Subscription: Data Hub All Pricing, not to exceed $30,000, 10/10/24 – 10/9/25 Item 2

Page 5 of 5 ends

Exhibit 2 - CEO Power Supply Agreements Executed
Counterparty Name Execution/Effective
Date
Transaction
Type Product Start Date End Date Notional Value
Citadel Energy Marketing 10/9/2024 Purchase Hedge Energy 1/1/2025 3/31/2025 $7,484,233 Brookfield 10/16/2024 Purchase Carbon-Free Energy 1/1/2025 12/31/2025 $4,375,000 to $7,200,00 Brookfield 10/16/2024 Purchase Resource Adequacy 1/1/2025 12/31/2025 $13,020,000 Silicon Valley Power 10/21/2024 Sale Resource Adequacy 11/1/2025 12/31/2025 $298,250 Tumbleweed Energy, LLC 10/25/2024 Purchase Resource Adequacy 1/1/2025 5/31/2026 $5,100,000 PG&E 10/25/2024 Purchase Import Allocation
Rights 6/1/2025 12/31/2025 $331,500
LEAP 10/25/2024 Sale Resource Adequacy 10/1/2025 12/31/2025 $53,390 These agreements are included in the Board packet as Appendix A.

Item 2

SILICON VALLEY

CLEAN ENERGY
1 • Subtitle
New SV Clean Energy
PowerPoint Template
CEO Report
Clean Power Update
SVCE Board Meeting
November 13, 2024
Item 2
Attachment 1
Clean Power Update, November 2024
2 Clean Long-term Power Agreements
• $3.7B+ in commitments
• 21 PPAs signed
• 18 new build projects
• 896 MW of Renewable Power
• 1,845 MWh of Battery Storage
9 Projects now delivering to SVCE:
• COSO geothermal - January 2022
• Slate Solar + Storage – January 2022
• Casa Diablo geothermal – July 2022
• Mountain View wind – July 2022
• Rabbitbrush Solar + Storage – October 2022
• Terra-Gen Wind – January 2023
• Yellow Pine Solar + Storage – July 2023
• Victory Pass Solar + Storage – March 2024
• Baldy Mesa Storage (RA-only) – June 2024
Item 2
Attachment 1
Clean Power Update, November 2024
3 SVCE Long-Term Clean Energy
Contracts
Seller Project Name Technology Generation MW
Storage
MW Storage MWh
Approximate % of Annual
load in 2030
Term
(years)
Lifetime Not to
Exceed Authority
(MM$)
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, November 2024
4 Clean Energy Resources Online Progress
as of October 31, 2024
2024 – H2 • Hanford BESS on Peaker: Construction mode
• Goal Line Long Duration Storage: Pre-construction
• Aratina Solar + Storage: Pre-construction – delayed
• San Luis West Solar + Storage: Pre-construction - delayed 2025 – H1
• Atlas Solar: Pre-construction – delayed
2025 – H2 • Yellow Pine III Storage: Pre-construction
• Tumbleweed Long Duration Storage: Construction mode
2026 – H1 • Fish Lake Geothermal: Pre-construction
• Ormat Geothermal Portfolio: Pre-construction
• SunZia Wind: Construction mode
• Angela Solar + Storage: Pre-construction – delayed
• Grace Solar: Pre-construction
2026 – H2+
Item 2
Attachment 1
Clean Power Update, November 2024
5 SVCE is Making Significant Progress Toward
Meeting Long-Term RPS Requirements

% of Retail Sales
CY 2024 Expected Long-Term RPS
Item 2
Attachment 1
Clean Power Update, November 2024
6 Projected Clean Position for 2024/2025
Item 2
Attachment 1
Clean Power Update, November 2024
Clean
Volumes
(MWhs)

2.5M 100%

2.0M 80%

1.5M 60%

1.OM 40%
0,5M 20%
aoM 0%
2024 2025
Calendar Year
•
RPS Volumes «CA RPS Standard % eSVCE RPS %
•
SVCE Clean %
Percentage
(%)
7 SunZia Wind & Transmission Site Visit
Item 2
Attachment 1
Clean Power Update, November 2024
8 Victory Pass Ribbon Cutting
Item 2
Attachment 1
Clean Power Update, November 2024
9 THANK YOU!
Item 2
Attachment 1
Clean Power Update, November 2024
1 Energy Services &
Community Relations
November 2024 Updates
Item 2
Attachment 2
ESCR Update, November 2024

SWITCHED
SOURCE
2 1. Outreach Events & Sponsorships
Date Sponsorship/Event Location
11/2/2024 La Ofrenda Festival
1 p.m. - 7 p.m.

SVCE Dream Home, EV Expo, sponsorship & tabling
Downtown Gilroy
11/9/2024 EV Incentive Community Lunch & Learn
11 a.m. – 1 p.m.

SVCE-hosted event
Gilroy High School
750 West 10th Street
Gilroy, CA 95020
11/12/2024 Santa Clara County Induction Cooking Event
6 p.m. - 8 p.m.

SVCE Dream Home & tabling
County of Santa Clara Animal Services
12425 Monterey Rd
San Martin, CA 95046
11/14/2024 Contractor Lunch & Learn: Incentives, Networking and New Tools
12 – 1:30 p.m.

SVCE-hosted event
Michael’s Restaurant
2960 N Shoreline Blvd
Mountain View, CA 94043
11/16/2024 Sunnyvale EV Expo
9 a.m. – 2 p.m.

Sponsorship & tabling
Sunnyvale City Hall
456 W Olive Ave
Sunnyvale, CA 94086
11/19/2024 Contractor Lunch & Learn: Incentives, Networking and New Tools
12 – 1:30 p.m.

SVCE-hosted event
Mama Mia's Mediterranean & Italian Cuisine
275 East Dunne Avenue
Morgan Hill, CA 95037
Item 2
Attachment 2
ESCR Update, November 2024
3 Participation Rate
Overall Participation
Rate
Residential 96.13%

96.17%
Commercial 96.53%

2. Customer Participation
Item 2
Attachment 2
ESCR Update, November 2024

SILICON VALLEY

CLEAN ENERGY
4 The most recent MAWG was held on October 24, 2024. The meeting was attended by 27 people from 9 agencies.

The meeting included:
• BayREN Public Sector Programs presented by BayREN
• SVCE Commercial & Industrial Decarbonization Programs • SVCE Member Agency Grants
• 2023 GHG Inventory Update
• Policy & Permitting Update

3. Member Agency Working Group –
October Update
Item 2
Attachment 2
ESCR Update, November 2024
5 4. Student Sponsorships Launch 11/4
Formerly known as the Youth Education Fund
This annual funding program for elementary,
middle, high school, and community college
student-led projects within the SVCE service area
that support our communities’ goal of fighting
climate change by reducing the use of fossil fuels
and advancing decarbonization.

Projects can receive up to $10,000 in
funding.

Application opens: November 4, 2024
Submissions will be accepted on a rolling basis
Application closes: January 31, 2025
www.svcleanenergy.org/students/sponsorships/
Item 2
Attachment 2
ESCR Update, November 2024
6 5. Victory Pass Ribbon Cutting
On October 10 SVCE celebrated the new solar + battery storage project Central Coast Community Energy (3CE), Clean Power Alliance (CPA), Peninsula Clean Energy (PCE) and SVCE are contracted for a combined 393.5 MW solar capacity and 171 MW (684 MWh) battery storage over 15-year agreements.

Thank you Director Mekechuk for joining
us and Chair Walia for speaking!
Palm Springs, CA
Item 2
Attachment 2
ESCR Update, November 2024
7 6. October NextDoor Summary
✓ Four NextDoor Posts in October.
✓ 3,587 new members joined the platform since last month.

Topic: Masten Fire
Station Grant Project
Audience: Entire
service area
Topic: Acterra Home Tours
Audience: Entire service
area
Topic: New EV Rebate
Audience: Entire service
area
Topic: EV Lunch and
Learn
Audience: Gilroy &
Morgan Hill
Item 2
Attachment 2
ESCR Update, November 2024
Posted to Subscribers of Silicon Valley Clean Energy
^2 32 £2 1 42,661 Impressions
0 SVCE Community Relations Team Author •Silicon Valley Clean Energy • 3w https://www.youtube-Com/watch?v=8fhDFwXbrxg
Like Share
Silicon Valley Clean Energy0
SVCE Community Relations Team •7 Oct
Acterra, a local environmental nonprofit, invites you to attend their annual Electric Home Tour on October 19th from 11 a.m. to 3 p.m. ... See more Posted to Subscribers of Silicon Valley Clean Energy
02 7 Q 20,232 Impressions <0
Introducing the new SVCE Electric Vehicle Rebate! a‘v’
Think you can't afford an EV? They're more affordable than you might think! See more
Electric Vehicle —
Financial Incentives — NOV
Electric Vehicle Financial Incentives: Lunch & Learn
Gilroy High School 11:00 AM
Posted to Subscribers of Silicon Valley Clean Energy in 2 areas Posted to Subscribers of Silicon Valley Clean Energy
8 7. Press Releases & Media
Press Releases
• Community Choice Aggregators Celebrate New, Clean Capacity, Press Release, 10-15-24 • Silicon Valley Clean Energy Launches Electric Vehicle Rebate Program, Press Release, 10-23-24 Media Mentions
• Silicon Valley Clean Energy Dream Home Rolls Into Milpitas, The Mercury News, 10-13-24 (Note: event had to be canceled)
• Community Choice Aggregators Celebrate Added Capacity, Solar Industry Magazine, 10-15-24 • Los Gatos council set to repeal all-electric requirement for new buildings, The Mercury News, 10-18-24 • California Selling $1 Billion of Green Bonds to Supply San Jose With Electricity Over 30 Years, MarketScreener, 10-25-24
Item 2
Attachment 2
ESCR Update, November 2024
9 7. Press Releases & Media Cont.

Media Mentions
• New Clean Energy Project to Power 60,000 Central Coast Homes, edhat Santa Barbara, 10-25-24 • Sunnyvale hosts Electric Vehicle Expo on Nov. 16 – Event also showcases Silicon Valley Clean Energy’s mobile Dream Home, The Mercury News, 10-27-24
Item 2
Attachment 2
ESCR Update, November 2024
1 • Subtitle
New SV Clean Energy
PowerPoint Template
SVCE Legislative
and Regulatory
Update
November 13, 2024
Item 2
Attachment 3
SVCE Leg/Reg Update, November 2024
2 Policy Updates
Regulatory Update:

1. Market Price Benchmarks
Legislative Update:

1. End of Session – Final SVCE and CalCCA Bill
Status

2. 2024 Legislative Calendar
Item 2
Attachment 3
SVCE Leg/Reg Update, November 2024
3 Regulatory
Update
3 Item 2
Attachment 3
SVCE Leg/Reg Update, November 2024
4 Key Regulatory Activities
Activity Purpose Status
Market Price Benchmarks
(A.24-05-009, R.17-06-
026)
PG&E's Application for 2025
Generation Rate; Rulemaking
Pertaining to the PCIA.

On October 4, the CPUC issued the annual update to Market Price Benchmarks ("MPBs"), which are meant to reflect the price of energy, as well as Resource Adequacy ("RA"), Renewable Portfolio Standard ("RPS"), and Carbon-Free resources in the California market for purposes of calculating the Power Charge Indifference Adjustment ("PCIA"). These MPBs also impact the Provider of Last Resort (“POLR”) proceeding as the values help determine the Financial Security Posting (“FSR”) CCAs must post through a letter of credit (“LOC”).

The final 2024 RA MPB is $28.65/kW-month for system RA, compared to last year’s forecast price of $15.23/kW-month. The Forecast 2025 RA MPB is $42.54/kW-month.

The final 2024 Adder for RPS was set at $54.56, compared to last year’s forecast price of $31.73. The forecast 2025 RPS MPB is $71.24.

No Carbon-Free MPB was calculated for the second year in a row due to insufficient quantities reported. SVCE is working with CalCCA to review this determination.

Increases in the MPB lower the PCIA as it reflects a higher value for the legacy PG&E portfolio.

However, the large swing in the MPB and high forecast have prompted PG&E to advocate for review of the MPB calculation process. At this time SVCE projects no change in its FSR as a result of the updated MPBs.

Item 2
Attachment 3
SVCE Leg/Reg Update, November 2024
5 Legislative
Update
5 Item 2
Attachment 3
•mit
SVCE Leg/Reg Update, November 2024
(
I
•II •
6 SVCE and CalCCA Bill Positions
Bill Summary CalCCA or SVCE
Position
Status
SB 1095 (Becker) Prohibits mobile home parks and
homeowner associations from
instituting barriers to electric
appliances.

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

SVCE Support Vetoed
SB 1221 (Min) Creates a neighborhood zonal
decarbonization pilot at the
CPUC.

SVCE Support Signed
SB 382 (Becker) Building electrification
disclosures.

SVCE Support Signed
AB 2368 (Petrie-Norris) Reliability planning SVCE Support Signed Item 2
Attachment 3
SVCE Leg/Reg Update, November 2024
7 SVCE and CalCCA Bill Positions
Bill Summary CalCCA or SVCE
Position
Status
SB 1130 (Bradford) Allows households with less than 3
people to enroll in the FERA low-income bill assistance program.

CalCCA Support Signed
AB 817 (Pacheco) Would allow Board Committees that
are purely advisory to use pandemic-era teleconferencing rules.

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

CalCCA Support Signed
SB 1165 (Padilla) Allows transmission projects to go
through the permitting process at the
CEC instead of the CPUC.

CalCCA Support Died
Item 2
Attachment 3
SVCE Leg/Reg Update, November 2024
8 • January 3 – Legislature Reconvenes
• January 12 – Last day for policy committees to hear fiscal bills from their house last year • January 19 – Last day to submit bill requests to Legislative Counsel; last day for committees to hear 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 be introduced
• April 26 – Last day for policy committees to vote on fiscal bills • May 17 – Last day for fiscal committees to hear bills introduced in that house • May 24– Last day for each house to pass bills introduced in that house • June 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
Key 2024 State Legislative Milestones
Item 2
Attachment 3
SVCE Leg/Reg Update, November 2024
1 Agenda Look Ahead: Dec 2024 – Feb 2025
January 2025
*Please note the items on this schedule may change
depending on priorities
8th: BOD Meeting
• 2025 SVCE Committee Selections - Action
• FY 25 Programs Budget and Impact
Summary – Information
• Update to Exhibits C and D of SVCE JPA –
Action
• Regionalization – Discussion
February
11th: BOD Meeting
• Approve Budget Update, 2025 Customer
Rate Setting, and Additional Budget
Funding Items (including future use of
revenue surpluses) – Action
• Agency Policies Streamlining Project –
Action
• 2025 Legislative Policy Platform - Action
• 2025 Board Elections – Information
8th: BOD Meeting
• Chair and Vice Chair Appointment - Action
• Executive Committee Membership Selection
- Action
• FY 2025 Q1 Strategic Plan Update –
Information
December
Item 2
Attachment 4

Page 1 of 3 ends

Silicon Valley Clean Energy Board of DirectorsNovember 13, 2024

Silicon Valley Clean Energy Board of Directors
November 13, 2024