Staff Report – Item 4
Item 4: Adopt the Fiscal Year 2025-26 Recommended Operating Budget, and the Recommendation to Maintain the Current Financial Reserves Targets and Policy From: Monica Padilla, CEO
Prepared by: Amrit Singh, CFO
Scott Wrigglesworth, Director of Risk and Analytics
Karen Chang, Manager of Finance
Date: 9/10/2025
RECOMMENDATION
Staff recommends that the Silicon Valley Clean Energy (SVCE) Board of Directors (“Board”) adopt Resolution 2025-20 approving the fiscal year (FY) 2025-26 Recommended Operating Budget (“Recommended Budget”, Attachment 1), which includes, at a high level, the following:
1. Withdraws $40.1 million from the reserves
2. Maintains an average of four percent (4%) customer discount to comparable PG&E rates through December 2025 and reduces it to one percent (1%) in January 2026
3. Continues to provide additional monthly dollar bill credit to California Alternate Rates for Energy1 (CARE) and Family Electric Rate Assistance (FERA)
2 customers, which in the aggregate is equivalent to
a one percent (1%) discount for all customers
4. Proposes no changes to the current financial reserves targets and policy (Attachment 2)
FINANCE AND ADMINISTRATION COMMITTEE AND BOARD REVIEW
At the June 2, 2025, Finance and Administration Committee (“Committee”) meeting, staff presented the methodology, framework, and key assumptions for developing the Recommended Budget. At the same Committee meeting and the Board of Directors' (“Board”) June 11, 2025 meeting, staff also provided and discussed the stress test analysis (materials can be found here: SVCE Board of Directors Meeting June 11, 2025 – Item 4) that provided an assessment of the agency’s risks, which staff uses in developing the budget, managing the reserve levels, and proposing any changes to the financial reserves targets and policy.
Staff presented the Recommended Budget to the Finance and Administration Committee on August 4, 2025.
After reviewing and discussing the Recommended budget, reserve levels, and the current reserve policy with 1 Eligible low-income customers who are enrolled in the CARE program receive a 30-35% discount (not including additional SVCE discount and bill credits) on their total electric bills and a 20% discount on their natural gas bills. Eligible customers are those whose total household income is at or below certain income limits that vary depending on household size. For example, the income limit for households of 4 is $64,300. 2 The FERA program offers an 18% discount (not including additional SVCE discount and bill credits) on customers' total electricity bills if the household income slightly exceeds the CARE allowances. For example, the income limit for households of 4 is $80,375.
Item 4
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 4 Agenda Date: 9/10/2025
staff, the Committee voted unanimously to recommend that the Board of Directors approve the staff’s Recommended Budget and maintain the current reserve policy.
At the August 13th, 2025, Board meeting, staff presented the Recommended Budget and the proposal to maintain the current reserves targets and policy. During the meeting, staff responded to the board members' questions about the proposed budget. One of these questions was about the impact on the budget from offering a 4% discount instead of a 1% discount to customers from October 2025 to December 2025. Staff responded that the variance would be small and recommended not introducing another rate change in the middle of the fiscal year. In this report's Analysis & Discussion section, staff has calculated the impact and provides additional information on the recommendation to maintain the proposed 4% discount during this period. The Board did not suggest any changes to the budget, and the Recommended Budget presented in this report remains the same as that presented at the August Board Meeting.
BACKGROUND
SVCE’s fiscal year 2025-2026 begins on October 1, 2025, and ends on September 30, 2026. To prepare the budget for adoption in September, SVCE’s planning and budgeting process started earlier in the year with the Finance and Administration Committee’s review of staff’s proposed financial stress tests at its February 26, 2025, meeting. Staff presented stress test analyses to the Committee and the Board in June 2025. Before developing the budget, Staff also discussed the framework for developing it with the Committee at its June 2, 2025, meeting. In line with SVCE’s Budget, Adoption, Control, and Reporting policy, which requires presenting the Recommended Budget two months before the fiscal year ends, staff submitted the proposed budget to the Committee and the Board in August 2025.
ANALYSIS & DISCUSSION
The FY 26 Recommended Budget is balanced and presents SVCE in a stable financial condition.
Since the recommended budget remains unchanged from what was presented at the August Board meeting, this report highlights its main points. The detailed staff report from that meeting is available here: August 13, 2025 Board of Directors Meeting, Item 6, and the accompanying presentation can also be accessed here:
August 13, 2025 Board of Directors Meeting Presentations, Item 6. All previously provided attachments have been reattached to this report for reference.
In line with discussions at the June Board meeting, when staff reviewed the risks to SVCE’s financial outlook as part of the stress test analyses, the recommended budget, along with the 5-year outlook (Attachment 3), projects negative margins. The FY 2025-26 is expected to contribute negatively to reserves by $40.1 million, mainly due to lower revenues from anticipated increases in Power Charge Indifference Adjustment3 (PCIA) and decreases in PG&E generation rates. These outcomes are highly uncertain and depend on the market price benchmarks (MPBs) issued by the California Public Utilities Commission (CPUC) in the fall.
Staff recommends, as in previous years, adjusting the budget along with customer rates in December 2025 when there is greater certainty about next year’s PCIA and PG&E generation rates, especially after the CPUC publishes the MPBs. Staff does not recommend any significant operational changes at this time. SVCE has built reserves to manage risks such as market outcomes that could significantly lower SVCE’s margins, which now seem more likely. These reserves position SVCE in a stable financial state and allow the agency to take careful and strategic actions in response to market changes before making major operational adjustments.
Staff has begun analyzing financial options that SVCE can implement and expects to present these to the Board at the December 2025 meeting.
3 Public Utility Code Sections 366.1 and 366.2 require the CPUC to make sure that customers leaving PG&E do not burden remaining PG&E customers with costs that were incurred to serve them. To ensure customer indifference, CCAs and Direct Access or departing load customers are required to pay a power charge indifference adjustment (PCIA).
Item 4
Agenda Item: 4 Agenda Date: 9/10/2025
Operating expense increases, excluding power supply costs, are relatively small, totaling approximately $4 million compared to the previous fiscal year's operating budget. These increases mainly stem from updated vendor fees and anticipated legal expenses, including a 3% cost-of-living adjustment for personnel costs, with no additional staffing increases. From the previous fiscal year’s operating budget, power supply expenses increased slightly by about $19 million, mainly from portfolio changes and higher energy costs.
At the August 2025 Board meeting, staff was asked about the budget impact of offering a 4% discount instead of 1% to customers from October 2025 to December 2025. At that time, staff did not have the dollar amount, responded that the variance would be small, and recommended not implementing a rate change in the middle of the fiscal year. The difference between offering a 4% versus a 1% discount during this period is approximately $4 million. Staff recommends that SVCE change rates in January, when customers' PCIA rates change along with PG&E generation rates, to stay aligned with the message communicated to our customers based on the Board's adoption of the mid-year budget in March 2025. At this meeting, the Board reviewed the projected declines and changes in SVCE’s margins and reserves over the five-year outlook. Despite this overall negative outlook, the Board authorized an increase in the average customer discount from 4% to 10% in 2025, which included the expected $334 million in aggregate one-time bill credits to offset customers’ August 2025 usage, along with the overall 4% discount for the year. In making this decision, the Board balanced several objectives and goals, including customer affordability, SVCE reserve levels, and financial projections.
The Board also noted that customers needed more immediate rate relief given the higher rates in 2025 compared to future years when customer generation rates are expected to decline.
STRATEGIC PLAN
The recommendation supports all of the Board's adopted strategic plan goals. Specifically, this budget update supports SVCE Strategic Plan Goal 6 – Maintain healthy financial position; avoid failures in the management of market risk, credit risk, liquidity risk, operational risks, and enterprise risks.”
ALTERNATIVE
Staff is open to feedback and suggestions from the Board. At a strategic level, the Board can change the discount to PG&E, reduce the power supply portfolio's carbon-free and/or renewable percentages, and cut the expenditure on the Decarbonization Programs.
Staff does not recommend any specific reductions given a sufficient projected reserve balance that maintains SVCE’s stable financial condition.
FISCAL IMPACT
The FY 2025-26 Operating Budget includes $358.4 million in revenues and $398.5 million in expenses, non-operating revenues, and transfers, reducing reserves by $40.1 million.
ATTACHMENT
1. FY 2025-26 Recommended Operating Budget
2. Financial Reserves Policy
3. Recommended 5-year Financial Forecast
4. FY 2025-2026 Recommended Salary Table
5. FY 2025-2026 Recommended Organization Chart
6. FY 2025-2026 Benefits Table
7. Capital Projects Report
8. Resolution 2025-20, Adopting the FY 2025-26 Operating Budget 4 The budgeted amount of the bill credits was $35 million to account for the fluctuations in customer accounts after the per-account credit was set.
Item 4
SILICON VALLEY CLEAN ENERGY
FY25-26 OPERATING BUDGET
($ in thousands)
FY 2024-25 FY25-26
MID-YEAR
ADJUSTED ANNUAL
DESCRIPTION BUDGET BUDGET $ %
ENERGY REVENUES
Energy Sales 521,650 360,057 (161,593) -31.0%
Green Prime 1,884 2,469 585 31.1%
Customer Bill Relief (Existing CARE/FERA) 0 (4,110) (4,110) 0.0% Other Income 0 0 0 0.0%
TOTAL ENERGY REVENUES 523,534 358,416 (165,118) -31.5%
ENERGY EXPENSES
Power Supply 349,478 368,896 19,418 5.6%
OPERATING MARGIN 174,056 (10,480) (184,536) -106.0%
OPERATING EXPENSES
Data Management 3,549 3,764 215 6.0%
PG&E Fees 1,516 1,569 52 3.4%
Salaries and Retirement 18,805 18,870 66 0.3%
Professional Services 7,797 10,902 3,105 39.8%
Marketing & Promotions 1,885 2,347 462 24.5%
General & Administrative 5,733 5,742 9 0.2%
TOTAL OPERATING EXPENSES 39,284 43,193 3,909 9.9%
OPERATING INCOME (LOSS) 134,771 (53,673) (188,445) -139.8%
NON-OPERATING REVENUES
Interest Income 19,756 21,413 1,657 8.4%
TOTAL NON-OPERATING REVENUES 19,756 21,413 1,657 8.4%
NON-OPERATING EXPENSES
Financing 12 29 16 129.4%
TOTAL NON-OPERATING EXPENSES 12 29 16 129.4%
TOTAL NON-OPERATING INCOME (EXPENSES) 19,743 21,384 1,641 8.3% CHANGE IN NET POSITION 154,515 (32,289) (186,803) -120.9%
CAPITAL EXPENDITURES, INTERFUND
TRANSFERS & OTHER
Capital Outlay 50 512 462 924.0%
Program Fund 10,530 7,251 (3,279) -31.1%
Nuclear Allocation 3,708 0 (3,708) -100.0%
Customer Bill Relief (Existing CARE/FERA) 5,370 0 (5,370) -100.0% Additional One-Time Bill Credit for All Customers 35,000 0 (35,000) -100.0% Hanford Emissions Mitigation Fund 1,800 0 (1,800) -100.0% Other 0 0 0 0.0%
TOTAL CAPITAL EXPENDITURES, INTERFUND
TRANSFERS & OTHER 56,458 7,763 (48,695) -86.2%
BALANCE AVAILABLE FOR RESERVES 98,057 (40,052) (138,109) -140.8% Change
Item 4
Attachment 1
Effective on 9/11/2024
Finance Policy 9: Financial Reserves
I. Purpose
This Reserve Policy outlines the appropriate types and levels (minimum, goal, and maximum) of financial reserves as prescribed in the following policy. The primary reason for a reserve policy is to be prepared for contingencies, but other reasons also exist. Seven important purposes of a reserve policy are as follow:
• Plan for contingencies. To maintain sufficient reserves to minimize rate increase due to market volatility (power supply shocks or maintain rate competitiveness), weather impacts on demands, economic downturns, emergencies (such as natural disasters), and regulatory changes. • Maintain good standing with rating agencies. By maintaining sufficient reserves, SVCE can preserve good credit ratings, allowing it to secure power at lower costs, that is, without posting credit enhancements, in the energy markets.
• Avoid interest expense. To avoid interest expense to cover short-term cash shortfalls by having sufficient reserves to use for this purpose, rather than debt.
• Ensure cash availability when revenue is unavailable. To bridge times of the year that normally see temporary low levels of cash. • Plan for anticipated future rate increases by gradually raising those rates, using reserves to cushion the full impact on customers over an extended time period. For example, if it is expected that rates are highly likely to increase in 3 to 5 years, higher reserves on hand can cushion those rate increases over a more gradual timeframe by drawing down on the accumulated funds that may be in excess of the reserves’ goal. • Manage the risks identified in the Energy Risk Management Policy, which are:
o Market price risk,
o Net revenue risk,
o Counterparty credit and performance risk,
o Load and generation volumetric risk,
o Operational risk,
Item 4
Attachment 2
SILICON VALLEY <3/ CLEAN ENERGY
Effective on 9/11/2024
o Liquidity risk, and
o Regulatory/legislative risk.
• Establish clear expectations between the Board of Directors and staff. A formal reserve policy creates a shared understanding of the proper level and use of reserves.
II. Policy
A. Financial reserves shall be set aside as follows:
The Reserve targets cover the operations of SVCE over a number of days in the event of emergencies or other significant unforeseen events.
Three levels are defined, with the first being baseline. Given the purposes stated above, the Reserve shall be maintained at no less than the minimum described below. The operating reserve level described below is recommended as the goal. The Maximum reserve level described below would provide solid reserves for significant fluctuations in revenue or unforeseen circumstances. The Board shall review its reserve levels annually in context of SVCE’s overall financial condition of the agency, as well as due to changes to the industry and/or risk factors as described in periodic review of targets below. o Minimum Operating Reserve (baseline) shall be the minimum maintained to cover 120 days of operations of the annual operating budget;
o An Operating Reserve goal of covering 350 days of operations of the annual operating budget;
o Maximum Operating Reserve to cover 500 days of operations of the annual operating budget.
Item 4
Attachment 2
SILICON VALLEY <3/ CLEAN ENERGY
Effective on 9/11/2024
B. Conditions for Use of Reserves
• For purposes of this policy, use of reserves is defined as a projected or estimated1 reduction in reserves by fiscal year-end. A temporary reduction in cash consistent with the expected peaks or dips in revenues and expenditures are normal cyclical occurrences to be expected during the fiscal year, and do not constitute a use of reserves. • The reserves may be drawn down upon by the CEO during the year, up to the lesser of 10% of the year’s budgeted cost of power supply, or $30 million, to:
o Cover increases in power supply expenses due to spikes in costs and/or due to higher customer demand;
o Provide necessary funds to make up for unanticipated revenue shortfalls;
o Meet any margin or collateral posting requirements under energy supply contracts; and,
o Provide resources to meet emergency expenditures.
• If further use of reserves are needed to manage the operations of the organization, or if the use of reserves would bring the balance below the Minimum Operating Reserve baseline, the CEO must present recommendations to the Board and the Board must authorize any such use.
C. Replenishment of Reserves
• Should SVCE drawdown reserves below the Minimum Operating Reserve level, SVCE will consider plans to return reserves to their minimum targets within two (2) fiscal years. Such plans will be provided in subsequent budget and rate discussions with the Board.
1 It is not practical to wait the formal fiscal year end closing of the accounting records to determine if the reserves have been “used”. Therefore, it is appropriate for staff to estimate reserve levels, with the important amount being what is estimated for fiscal year end.
Item 4
Attachment 2
SILICON VALLEY <3/ CLEAN ENERGY
Effective on 9/11/2024
D. Excess Reserves
• If reserve funds are projected to exceed the maximum level, the CEO shall present options for consideration by the Board of Directors for proper disposition of those reserves during the next budget cycle. In computing excess reserves, the reserve balance will be reduced for earmarked funds or allocated but unspent funds.
E. Reserves between Minimum and Maximum
• To the extent that reserves are above target and below the maximum, no other action by SVCE would be required.
F. Periodic Review of Reserve Goals
• Reserve goals shall be periodically reviewed for consistency with industry standards. If significant risk factors are eliminated or significant new risks emerge as a result of changes in the industry, legislation, or economic conditions, the basis of the reserve policy shall be reviewed, and the funding level shall be adjusted accordingly. Unless the Reserves are approaching minimum levels, formal Reserve funding discussions with the Board may await the next budget process.
G. Reporting
• Reserve levels will be monitored during the fiscal year and reported in the quarterly financial reports. Reserve target levels (minimum and maximum) will be analyzed annually, and over/under reserve determination shall be made in conjunction with year-end financial results. These results will be reported to the Board of Directors as part of the year-end financial report presentation.
Item 4
Attachment 2
SILICON VALLEY <3/ CLEAN ENERGY
($ in Thousands)
FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30
Operating Revenue (Forecast) (Forecast) (Forecast) (Forecast) (Forecast) Electricity Sales, Net1 $360,057 $344,870 $373,562 $385,869 $399,386 GreenPrime Electricity Premium $2,469 $2,510 $2,336 $2,309 $2,361 Reduction in Revenue $(4,110) $0 $0 $0 $0
Other Income $0 $0 $0 $0 $0
Total Operating Revenues $358,416 $347,380 $375,898 $388,178 $401,747 Operating Expense
Power Supply $368,896 $377,056 $390,399 $389,754 $409,179 Operating Margin $(10,480) $(29,676) $(14,501) $(1,576) $(7,432) Data Management $3,764 $3,952 $4,149 $4,357 $4,575
PG&E Service Fees $1,569 $1,647 $1,729 $1,816 $1,907
Salaries and Retirement $18,870 $19,814 $20,805 $21,845 $22,937 Professional Services $10,902 $11,447 $12,019 $12,620 $13,251 Marketing & Promotions $2,347 $2,464 $2,587 $2,717 $2,852 General and Administration $5,742 $5,526 $5,803 $6,093 $6,397 Transfers to Programs Fund $7,251 $6,948 $7,518 $7,764 $8,035 Total Operating Expenses $419,340 $428,854 $445,009 $446,965 $469,134 Operating Income $(60,924) $(81,475) $(69,111) $(58,787) $(67,387) Nonoperating Revenue
Investment Income $21,413 $16,236 $11,990 $10,449 $8,184 Grant Income $0 $0 $0 $0 $0
Total Non-Operating Revenues $21,413 $16,236 $11,990 $10,449 $8,184 Nonoperating Expense
Financing Cost $29 $29 $29 $29 $29
Capital Outlay $512 $50 $50 $50 $50
Total Non-Operating Expense $541 $79 $79 $79 $79
Non-Operating Income $20,872 $16,157 $11,911 $10,371 $8,106 Change in Net Position/Available for Reserves $(40,052) $(65,317) $(57,200) $(48,417) $(59,281) Begin, Net Financial Position $593,981 $523,874 $434,778 $360,355 $296,351 Adjustment for Program Expenditure and Building Fund2 $(30,055) $(23,779) $(17,224) $(15,588) $(16,196) End, Net Financial Position $523,874 $434,778 $360,355 $296,351 $220,873 Days Cash On Hand (DCOH) at Year End $494,189 $405,094 $330,670 $266,666 $191,188 Days of cash on hand 430 345 271 218 149
1. Assumptions: 4% overall discount relative to comparable PG&E rates for calendar year 2025. FY 25-26 includes additional bill credit to low income customers totaling $4.1 million. 1% discount for 2026-2030.
2. Each year the Board transfers funds from the Operating Budget to the Decarbonization Programs Fund as shown in the above forecast under line item Transfers to Programs Fund. The line item Adjustment for Program Expenditure accounts for the difference between forecasted spend for programs versus the amount transferred to the fund. This adjustment is needed because program spending to date has been less than the amount transferred to the programs fund. The $20 million in building Fund is assumed to be spent between FY24-25 and FY25-26.
Item 4
Attachment 3
Title Minimum Salary
(Annual $)
Maximum Salary
(Annual $)
$ 108,355 $ 185,595
$ 72,236 $ 114,648
$ 108,355 $ 170,171
$ 129,103 $ 185,811
$ 94,405 $ 143,419
$ 90,294 $ 146,622
$ 144,471 $ 208,108
$ 101,898 $ 158,986
$ 144,471 $ 219,593
$ 228,746 $ 381,448
$ 94,405 $ 143,419
$ 144,471 $ 215,886
$ 78,255 $ 127,891
$ 129,103 $ 190,592
$ 136,296 $ 198,649
$ 144,471 $ 208,108
$ 108,355 $ 185,595
$ 185,809 $ 291,983
$ 204,202 $ 320,864
$ 192,644 $ 302,702
$ 192,644 $ 302,702
$ 192,644 $ 302,702
$ 192,644 $ 302,702
$ 192,644 $ 302,702
$ 192,644 $ 302,702
$ 218,360 $ 327,540
$ 192,644 $ 302,702
$ 192,644 $ 302,702
$ 192,644 $ 302,702
$ 144,471 $ 220,555
$ 181,225 $ 275,458
$ 161,808 $ 245,944
$ 94,405 $ 143,420
$ 179,204 $ 264,330
$ 156,511 $ 245,944
$ 108,355 $ 185,595
$ 192,644 $ 302,702
$ 108,355 $ 185,595
$ 132,432 $ 208,108
$ 180,590 $ 245,944
$ 132,432 $ 208,108
$ 94,405 $ 143,419
Administrative Analyst
Administrative Assistant
Associate Data Analyst
Associate Data Scientist
Associate Financial Analyst
Associate Legislative Analyst
Associate Manager of Decarbonization Programs and Policy Associate Power Analyst
Associate Power Resources Planner
CFO
Communication Specialist
Communications Manager
Community Outreach Specialist
Data Analyst
Data Engineer
Data Scientist
Deputy Board Clerk/Administrative Assistant
Deputy Director of Marketing and Communications Deputy
Director of Power Resources
Director of Customer Success
Director of Decarbonization Policy and Community Strategies Director of Energy Services & Community Relations
Director of Government and Legislative Affairs
Director of Human Resources
Director of Operations
Director of Power Resources
Director of Regulatory, Policy and Planning
Director of Risk Management and Analytics
Director of Strategic Development
Energy Services Lead
Energy Services Manager
Energy Services Principal
Energy Services Specialist
Energy Trading Manager
Energy Trading Planner
Financial Analyst
General Counsel
Human Resources Analyst
Human Resources Generalist
Human Resources Manager
IT Analyst
IT Support Specialist
Management Analyst/Admin $ 132,432 $ 208,108
FY25-26 Salary Chart
Item 4
Attachment 4
Title Minimum Salary
(Annual $)
Maximum Salary
(Annual $)
FY25-26 Salary Chart
Manager of Data and Analytics $ 185,227 $ 275,457
Manager of Decarbonization Programs $ 156,511 $ 245,944 Manager of Finance $ 164,337 $ 249,730
Manager of Technology and Admin Services $ 164,337 $ 249,730 Marketing Lead $ 144,471 $ 220,555
Marketing Specialist $ 78,255 $ 127,891
Policy Analyst $ 108,355 $ 185,595
Power Analyst $ 114,125 $ 178,064
Power Contracts & Settlements Manager $ 180,590 $ 283,783 Power Resources Manager $ 180,590 $ 283,783
Power Resources Planner $ 156,511 $ 245,944
Power Settlements and Compliance Analyst $ 132,432 $ 208,108 Power Settlements Manager $ 179,204 $ 264,330
Power Settlements Planner $ 156,511 $ 245,944
Principal Data Engineer $ 156,511 $ 249,185
Principal Data Scientist $ 175,292 $ 261,051
Principal Policy Analyst $ 156,511 $ 232,810
Principal Power Analyst $ 143,158 $ 223,363
Program Marketing Manager $ 144,471 $ 215,886
Programs Lead $ 144,471 $ 220,555
Programs Specialist $ 90,294 $ 146,622
Rates Manager $ 164,337 $ 245,944
Regulatory & Compliance Manager $ 156,511 $ 245,944
Regulatory Analyst $ 126,413 $ 185,595
Senior Board Clerk/Executive Assistant $ 132,432 $ 220,555 Senior Communications Specialist $ 94,405 $ 160,629
Senior Data Analyst $ 144,471 $ 213,463
Senior Data Engineer $ 152,651 $ 222,486
Senior Data Scientist $ 156,511 $ 233,081
Senior Energy Services Specialist $ 108,355 $ 160,630
Senior Financial Analyst $ 144,471 $ 208,108
Senior Government Affairs Manager $ 192,644 $ 264,330
Senior IT Analyst $ 145,675 $ 228,919
Senior Management Analyst $ 144,471 $ 228,919
Senior Manager of Communications $ 165,901 $ 260,700
Senior Manager of Decarbonization Programs and Policy $ 165,901 $ 260,700 Senior Manager of Power Resources $ 192,644 $ 302,702
Senior Manager of Technology and Administrative Services $ 184,057 $ 278,802 Senior Marketing Specialist $ 94,405 $ 143,419
Senior Policy Analyst $ 126,413 $ 207,866
Senior Power Analyst $ 127,820 $ 199,432
Senior Power Resources Planner $ 192,644 $ 275,458
Senior Programs Specialist $ 108,355 $ 164,217
Item 4
Attachment 4
Title Minimum Salary
(Annual $)
Maximum Salary
(Annual $)
FY25-26 Salary Chart
Senior Programs Specialist $ 109,558 $ 179,905
Senior Public Sector Services Manager $ 165,901 $ 260,700 Senior Quantitative Analyst $ 144,471 $ 213,463
Senior Rates Analyst $ 144,471 $ 208,108
Senior Regulatory Advisor $ 132,432 $ 208,108
Senior Regulatory Analyst $ 132,432 $ 208,108
Senior Regulatory Analyst & Associate General Counsel $ 144,471 $ 220,555 Wholesale Energy Markets Manager $ 179,204 $ 264,330
Wholesale Energy Markets Planner $ 156,511 $ 245,944
Item 4
Attachment 4
Item 4
Attachment 5
FY25-26 Organization Chart (Exec, Finance, PRO, Operations) Manager of
Finance
Administrative Associate
Analyst Finance,
Risk, and
Data Analyst
CEO
Chief Financial OfficerDirector of Power
Resources
General Counsel Sr. Board
Clerk/Executive
Assistant
Director of Human
Resources
Directc Operat
r of
ions
Director of
Risk Management
and Analytics
Deputy
Director of
Power
Resources
Wholesale Market
Planner
Power
Analyst
Power
Resource Manager
Power
Supply
Program
Manager
Rotational
Power Analyst
Deputy Board
Clerk/Administrative
Assistant
HR Admin Assistant Senior
Information
Technology
Analyst
Information
Technology
Support
Specialist
Project
Coordinator
Sr. Manager of
IT and Admin
Services
Senior
Quantitative Analyst
Senior
Financial
Analyst
Senior
Financial
Analyst
Manager of
Data &
Analytics
Data
Engineer
Senior
Quantitative Analyst
Power
Settlements
Planner
Power
Settlements
and Compliance
Analyst
Regulatory &
Compliance Manager
Power
Resources
Planner
Associate
Power
Analyst
Clean
Energy
Internal Operations
Intern
Energy
Trading
Planner
Associate
Data
Scientist
Data &
Analytics
Intern
Senior Data
Engineer
Item 4
Attachment 5
FY25-26 Organization Chart (Exec, CS, RPPL)
CEO
Director of Customer
Success
Director of
Regulatory,
Policy and
Planning
Director of Government and
Legislative
Affairs
Director of Decarbonization
Policy and
Community
Strategies
Decarbonization Management
Analyst
Manager of
Decarbonization
Programs and
Policy
Senior Programs
Specialist
Programs Lead Programs Lead Programs Lead
Energy Services Manager
Communications
Consultant
Energy Lead
Energy Services Manager
Energy Services Energy Services
Specialist Specialist
Sr. Energy
Specialist
Electric Project
Cost Analyst
Intern Full-Time
Part-Time
Interns
Vacant
New
Independent
Consultants
Community Outreach
Specialist
Climate Corp
Fellow
Communications
Specialists
Climate Corp
Fellow
Climate Corp
Fellow
Deputy Director
of Marketing and
Communications
Internal
Operations
Program
Manager
Sr. Regulatory
Analyst &
Associate General Counsel
Senior
Regulatory
Advisor
Power Resource
Planner
Forecasting and
Planning Analyst
Senior Community
Strategies
Specialist
Senior Manager of
Public Sector
Services
Technical Manager
of Decarbonization
Planning &
Strategy
Decarbonization &
Community
Strategies Lead
Communications Manager
Program
Marketing Manager
Climate Corp Fellow
Marketing
Specialist
Senior Marketing
Specialist
Marketing Lead
2025-26 Benefits
Summary
Campbell | Cupertino | Gilroy | Los Altos | Los Altos Hills | Los Gatos | Milpitas | Monte Sereno | Morgan Hill | Mountain View | Saratoga | Sunnyvale | Unincorporated Santa Clara County Benefit Details
Health Insurance
Employer Premium Contribution SVCE provides up to $1,500 per month to cover the employee and dependent medical insurance premiums.
Medical Coverage is provided through the CalChoice marketplace, and currently includes the following options:
Kaiser – HMO plans
Sutter Health – HMO plans
Anthem Blue Cross – PPO plans
Cigna –EPO G
Dental Delta Dental PPO – 100% Employer Paid
Vision Vision PPO Plan – 100% Employer Paid
Retirement
401 (a) Plan Mandatory 10% employee contribution matched by 10% employer contribution in lieu of Social Security. Fully vested from date of hire. 457 (b) Deferred Compensation Voluntary pre-tax employee contributions up to annual IRS limits.
HRA -or- HSA
Health Reimbursement Account SVCE contributes $500 / month towards a Health Reimbursement Account that the employee can use for qualified health care expenses. Unused balances can be carried over to the next year.
Health Savings Account
(only with eligible High Deductible
Health Plans)
SVCE contributes up to $400 / month towards a Health Savings Account that the employee can use for qualified health care expenses. Balance can be invested and stays with employee after separation.
FSA – Health / Dependent Care / Transportation / Parking Employer Contribution SVCE contributes $200 / month towards flexible spending accounts that can be used for qualified expenses in the categories below. Employee can contribute additional funds up to the IRS limits.
Health Spending Account Employee can annually contribute up to $3,200 pre-tax to their Health FSA. A maximum of $660 rolls over for 2025.
Dependent (Child / Elder) Care
Assistance
Employee can annually contribute up to $5,000 pre-tax to their Dependent Care account. Funds do not roll over.
Transit / Parking Plan Non-taxable reimbursement of up to $315 per month for qualified transit and parking expenses, all funds roll over as long as you remain eligible Health / Wellness
Fitness Reimbursement Program SVCE will reimburse up to $600 / year for qualified fitness expenses (class / program / equipment) per year. This reimbursement will accrue annually up to $3000.
Professional Development
Tuition Reimbursement Program SVCE will reimburse up to $5,000 / year for qualified educational advancement that supports the organization’s mission.
Employee Rebate Reimbursement
SVCE Employees are eligible to
receive the same rebate benefits as
its customers
SVCE rebates are available for single-family homes, accessory dwelling units (ADUs), and multi-family homes (4 dwelling units or fewer) swapping out existing equipment, not for completely new building construction. Each dwelling unit is eligible for one rebate per appliance type.
Item 4
Attachment 6
SILICON VALLEY \3/ CLEAN ENERGY
2025-26 Benefits
Summary
Campbell | Cupertino | Gilroy | Los Altos | Los Altos Hills | Los Gatos | Milpitas | Monte Sereno | Morgan Hill | Mountain View | Saratoga | Sunnyvale | Unincorporated Santa Clara County Miscellaneous
Short Term Disability Insurance STD provided at 60% of weekly earnings subject to terms of STD insurance carrier and cap based on salary.
Long Term Disability Insurance LTD provided at 60% of monthly earnings subject to terms of LTD insurance carrier and cap based on salary.
Term Life Insurance 100% Employer-paid for 1X base salary with minimum guarantee at $200,000 life and AD&D coverage.
Employee Assistance Program (EAP) 100% Employer-paid confidential counseling for you and your immediate family member and work/life services assistance.
Hybrid Work Set up One time $500 reimbursable for home office set up.
Technology Stipend $50 monthly stipend for phone and $70 internet connection costs Voluntary Term Life and AD&D Rates
Voluntary term life monthly rate Voluntary term life rates do not include the AD&D rate. The spouse is charged based upon his/her individual age.
Child(ren) monthly rate: $10,000 of coverage for $2.00 per family Voluntary Accidental Death and
Dismemberment (AD&D) monthly rate
Employee and spouse $.039
Leave
Vacation Leave SVCE offers 160 hours of Paid Time Off (PTO) that is accrued bi-weekly for the first year. PTO includes vacation, sick, etc.
After the first-year anniversary date, an additional 8 hours will be granted per year up to the tenth year of employment.
All unused PTO at the end of the year can be carried over to a maximum of twice the annual accrual.
Exempt employees receive an additional 40 hours of Management Leave at the beginning of each calendar year, which does not carry over to the next year.
Holidays 13 days (104 hours) per year.
New Year’s Day
Martin Luther King Jr.’s Birthday
Presidents’ Day
Cesar Chavez Day
Memorial Day
Juneteenth
Independence Day
Labor Day
Veteran’s Day
Thanksgiving (2 days)
Christmas Day
Floating Holiday (does not accrue, use annually)
Administrative Shut-Down Leave Christmas Day though New Year’s Day Bereavement Leave Up to 5 days paid bereavement leave in the event of a death in your immediate family.
Parental Leave 240 hours of paid parental leave, eligibility at the CEOs discretion Item 4
Attachment 6
SILICON VALLEY \3/ CLEAN ENERGY
Description Account Date Cost Life
(months) Depreciation Operating Cost/Revenue Impact
Effect on
Operations/
Reliability
Consequence of not
funding the Capital Project Source of Funding On-going Impact to Operational Budget January 2025 - Stage 1 Initial Roof Inspection - Building finalized in February 2025
Construction in
Progress 01/31/2025 $ 3,000 480 not in service yet
None (allocated towards Office
Building Fund) N/A Need to fulfill staff office space needs Office Building Fund Reduction in 5-Year Reserves forecast January 2025 - deposit for stage 1 initial roof inspection -Building finalized in February 2025
Construction in
Progress 01/31/2025 $ 1,000 480 not in service yet
None (allocated towards Office
Building Fund) N/A Need to fulfill staff office space needs Office Building Fund Reduction in 5-Year Reserves forecast Office Building on 298 South Sunnyvale Avenue, Sunnyvale CA 94086 Building 02/20/2025 $ 7,000,000 480 not in service yet
None (allocated towards Office
Building Fund) N/A Need to fulfill staff office space needs Office Building Fund Reduction in 5-Year Reserves forecast LAND Office Building on 298 South Sunnyvale Avenue, Sunnyvale CA 94086 Land 02/20/2025 $ 4,500,000 N/A Land not in service yet
None (allocated towards Office
Building Fund) N/A Need to fulfill staff office space needs Office Building Fund Reduction in 5-Year Reserves forecast May 2025 - Sunnyvale HQ - Construction Project Management Services Construction in Progress 05/31/2025 $ 20,000 480 not in service yet
None (allocated towards Office
Building Fund) N/A Need to fulfill staff office space needs Office Building Fund Reduction in 5-Year Reserves forecast New Office Space Expenditures for 298 S Sunnyvale Fixture 09/01/2026 $ 462,000 84 not in service yet
Listed in FY25-26 Proposd
Budget Capital Expenditure N/A Need to fulfill staff office space needs FY25-26 Proposed
Operating Budget
One-time Capital cost in
FY25-26 budget
*Furniture depreciates at 84 months
*Software / electronics depreciate at 36
month
Capital Projects Report
Item 4
Attachment 7
1 Resolution 2025-20
SILICON VALLEY CLEAN ENERGY AUTHORITY
RESOLUTION NO. 2025-20
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SILICON VALLEY CLEAN ENERGY AUTHORITY TO APPROVE THE FISCAL YEAR 2025-2026 BUDGET FOR
SILICON VALLEY CLEAN ENERGY
WHEREAS, the Silicon Valley Clean Energy Authority (“Authority”) was formed on March 31, 2016, pursuant to a Joint Powers Agreement to study, promote, develop, conduct, operate, and manage energy programs in Santa Clara County; and WHEREAS, the Authority operates on a fiscal year budget cycle from October 1st through September 30th;
WHEREAS, draft versions of the Authority’s budget for the fiscal year 2025-2026 were presented to the Finance & Administration Committee on August 4, 2025, and the Board of Directors on August 13, 2025 (collectively, the “Prior Presentations”); WHEREAS, staff has incorporated feedback from the Prior Presentations and has prepared a recommended budget, set forth in Exhibit A (the “Recommended Budget”); NOW THEREFORE, the Board of Directors of the Silicon Valley Clean Energy Authority does hereby resolve that:
1. The foregoing recitals are true and correct.
2. The Board of Directors hereby approves and adopts the Recommended Budget, as set forth in Exhibit A, as the Authority’s fiscal year 2025-2026 budget.
PASSED AND ADOPTED this 10
th day of September 2025, by the following vote:
JURISDICTION NAME AYE NO ABSTAIN ABSENT
City of Campbell Director Scozzola
City of Cupertino Director Fruen
City of Gilroy Director Hilton
City of Los Altos Director Meadows
Town of Los Altos Hills Director Tyson
Town of Los Gatos Director Rennie
City of Milpitas Director Barbadillo
City of Monte Sereno Director Mekechuk
City of Morgan Hill Director Martinez Beltran
City of Mountain View Director Showalter
County of Santa Clara Director Lee
City of Saratoga Director Walia
City of Sunnyvale Director Klein
Item 4
Attachment 8
2 Resolution 2025-20
Chair
ATTEST:
Andrea Pizano, Board Secretary
Item 4
Attachment 8
Exhibit A
SILICON VALLEY CLEAN ENERGY
FY25-26 OPERATING BUDGET
($ in thousands)
FY25-26
ANNUAL
DESCRIPTION BUDGET
ENERGY REVENUES
Energy Sales 360,057
Green Prime 2,469
Customer Bill Relief (Existing CARE/FERA) (4,110)
Other Income 0
TOTAL ENERGY REVENUES 358,416
ENERGY EXPENSES
Power Supply 368,896
OPERATING MARGIN (10,480)
OPERATING EXPENSES
Data Management 3,764
PG&E Fees 1,569
Salaries and Retirement 18,870
Professional Services 10,902
Marketing & Promotions 2,347
General & Administrative 5,742
TOTAL OPERATING EXPENSES 43,193
OPERATING INCOME (LOSS) (53,673)
NON-OPERATING REVENUES
Interest Income 21,413
TOTAL NON-OPERATING REVENUES 21,413
NON-OPERATING EXPENSES
Financing 29
TOTAL NON-OPERATING EXPENSES 29
TOTAL NON-OPERATING INCOME (EXPENSES) 21,384
CHANGE IN NET POSITION (32,289)
CAPITAL EXPENDITURES, INTERFUND
TRANSFERS & OTHER
Capital Outlay 512
Program Fund 7,251
Nuclear Allocation 0
Customer Bill Relief (Existing CARE/FERA) 0
Additional One-Time Bill Credit for All Customers 0
Hanford Emissions Mitigation Fund 0
Other 0
TOTAL CAPITAL EXPENDITURES, INTERFUND
TRANSFERS & OTHER 7,763
BALANCE AVAILABLE FOR RESERVES (40,052)
Item 4
Attachment 8
Staff Report – Item 5
Item 5: Introduction to the Integrated Decarbonization Roadmap From: Monica Padilla, CEO
Prepared by: Peter Mustacich, Technical Manager of Decarbonization Planning and Strategy Zoe Elizabeth, Director of Decarbonization Policy and Community Strategies Date: 9/10/2025
RECOMMENDATION
This item is being presented to the Silicon Valley Clean Energy (SVCE) Board of Directors (“Board”) for informational purposes only.
BACKGROUND
In 2018 Silicon Valley Clean Energy (SVCE) published the “Decarbonization Strategy & Programs Roadmap”, a public-facing document outlining SVCE’s goals, strategic framework, decarbonization strategy, programs roadmap, and reporting and review structure. This guiding document was created with input from the Board of Directors (BOD), Member Agency Working Group (MAWG), stakeholders, and consultants and came together in a public-facing document. Core to this document was the identification of GHG reduction targets on our pathway to statewide carbon neutrality. Additionally, core program initiatives were identified to help us reach these ambitious GHG reduction targets.
Since 2018, the landscape SVCE operates within has changed – California has accelerated its carbon neutrality target, new technology has matured and come to market, and statewide regulatory requirements for Load Serving Entities (LSEs) have evolved. Additionally, SVCE itself has grown and changed as an organization, from increased staff and enhanced analytic capabilities to focusing strategic programmatic efforts on scaling to reach widespread community decarbonization.
EXECUTIVE COMMITTEE REVIEW
On August 29th, 2025, staff presented a preview of the Integrated Decarbonization Roadmap to the Executive Committee as an informational item. There was no discussion, and one question listed below with the staff response:
1. Question: Will the Integrated Decarbonization Roadmap effort include scenarios from the Finance & Administration team’s risk management modeling?
2. Response: Yes – a primary goal of the roadmap process is to bring different forecasting and modeling efforts together so that SVCE staff are working from a “single source of truth”, increasing our consistency and effectiveness.
ANALYSIS & DISCUSSION
Overview
The Integrated Decarbonization Roadmap (IDR) effort will serve as an update to the original 2018 Decarbonization Strategy & Programs Roadmap by refining goals, milestones, and strategic recommendations.
Additionally, the IDR will help build upon our current program reporting and tracking processes to connect more directly to GHG reduction targets. By incorporating power supply goals, constraints, and opportunities Item 5
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 5 Agenda Date: 9/10/2025
into programmatic decision making, SVCE will be better positioned to make strategic investment decisions aligned with our future decarbonization goals.
Planned Timing and Approach
The IDR effort will focus on three key components:
1. Updated roadmap document
This document will include refined electrification adoption scenarios, incorporating learnings into strategic guidelines, and strengthened connections between program metrics and GHG targets.
2. Program decarbonization evaluation framework
SVCE will develop a customized set of metrics to guide investment and track performance of programs toward our goals. This will also plans to grow capacity for internal reporting and ongoing planning.
3. Prioritized recommendations
Guiding principles to help adapt and scale decarbonization efforts over the next 3-5 years.
The IDR is scheduled for completion by Q3 2026. Major milestones include:
• Aug 2025: Presentation to Executive Committee as informational item • Sept 2025: Present to Board of Directors as informational item • Sep – Dec 2025: Staff strategic working sessions
• Dec 2025 – Feb 2026: Board of Directors Study Sessions • Jan – Apr 2026: Stakeholder review and feedback
• Q3 2026: Final documents presented to Board of Directors for approval
STRATEGIC PLAN
This effort is directly supported by SVCE Strategic Plan Goal 3 – “Create a long-term decarbonization plan that integrates supply and demand changes, opportunities, and challenges”. Additionally, this effort is supported by Goal 8 – “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”.
ALTERNATIVE
Not pursuing the Integrated Decarbonization Roadmap would lead to SVCE being misaligned with GHG emissions reduction milestones without a clear framework for making strategic decisions better aligned with reaching these milestones. We also assume greater risk of being unprepared for future program cost-effectiveness reporting requirements.
FISCAL IMPACT
None.
Item 5