Agenda packet — Silicon Valley Clean Energy Board of Directors, January 14, 2026 (part 1 of 3)

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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).

US: +1 669-219-2599
Webinar ID: 895 3682 7966
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.

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.

SILICON VALLEY <3/ CLEAN ENERGY

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George Tyson, Chair
Town of Los Altos Hills
Larry Klein, Vice Chair
City of Sunnyvale
Elliot Scozzola
City of Campbell
R "Ray" Wang
City of Cupertino
Zach Hilton
City of Gilroy
Sally Meadows
City of Los Altos
Rob Rennie
Town of Los Gatos
Garry Barbadillo
City of Milpitas
Bryan Mekechuk
City of Monte Sereno
Yvonne Martinez Beltran
City of Morgan Hill
Pat Showalter
City of Mountain View
Chuck Page
City of Saratoga
Otto Lee
County of Santa Clara
svcleanenergy.org
333 W El Camino Real
Suite 330
Sunnyvale, CA 94087
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.

Adopt Resolution Commending George Tyson for His Dedicated Service as Chair of the Board of Directors in 2025
Consent Calendar (Action)
1a) Approve Minutes of the December 10, 2025, Board of Directors Meeting 1b) Approve Minutes of the December 12, 2025, Board of Directors Special Meeting
1c) Receive November 2025 Treasurer Report
1d) Appoint SVCE Treasurer/Auditor and Board Secretary for 2026 1e) Adopt Resolution Amending SVCE Conflict of Interest Code to Add Multiple Titles and Change the Titles of Power Settlements and Compliance Analyst to Power Settlements Analyst, and Regulatory and Compliance Manager to Compliance Manager as Designated Positions for Filing Statements of Economic Interests
1f) Authorize the Chief Executive Officer to Finalize and Execute Agreement with Beals Martin and Associates, Inc. to Support the Development and Construction of SVCE’s New Headquarters in the Amount of $6,554,435 1g) Authorize the Chief Executive Officer to Execute an Amended and Restated Agreement with IP Darden III, LLC for 91.48 MW of Solar Photovoltaic Energy and a 91.48 MW Co-located, Four-Hour Battery Energy Storage System to Extend the Term of the Original Agreement by Five Years, Reduce the Price and Increase the Lifetime Not-to-Exceed Amount to $440,000,000
1h) Receive Executive Committee Report

SILICON VALLEY

CLEAN ENERGY

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George Tyson, Chair
Town of Los Altos Hills
Larry Klein, Vice Chair
City of Sunnyvale
Elliot Scozzola
City of Campbell
R "Ray" Wang
City of Cupertino
Zach Hilton
City of Gilroy
Sally Meadows
City of Los Altos
Rob Rennie
Town of Los Gatos
Garry Barbadillo
City of Milpitas
Bryan Mekechuk
City of Monte Sereno
Yvonne Martinez Beltran
City of Morgan Hill
Pat Showalter
City of Mountain View
Chuck Page
City of Saratoga
Otto Lee
County of Santa Clara
svcleanenergy.org
333 W El Camino Real
Suite 330
Sunnyvale, CA 94087
1i) Receive Additional Committees Report
1j) Receive California Community Power Report
Regular Calendar
2) CEO Report (Informational)
3) Elect Silicon Valley Clean Energy Board Officers for 2026 (Action) 4) Authorize the Chief Executive Officer to Finalize Negotiations and Execute Necessary Agreements for Willow Rock Long Duration Energy Storage with California Community Power, Participating Community Choice Aggregators and Hydrostor’s GEM A-CAES LLC (Action) 5) Adopt Resolution to Establish EV Rate Pilot Program (Action) 6) Approve the Transportation Electrification Programs Budget Reallocation (Action)
7) Receive Update on Net Billing Tariff (NBT, NEM 3.0) Following First Year of Customer Performance (Informational)
Board Member Announcements and Direction on Future Agenda Items Adjourn
SILICON VALLEY <3/ CLEAN ENERGY
Revised: February 7, 2024
1 SVCE

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

C&I – Commercial and Industrial – Business customers
CAISO – California Independent System Operator – a non-profit independent system operator that oversees the operation of the California bulk electric power system, transmission lines and electricity market generated and transmitted by its members (~80% of California’s electric flow). Its stated mission is to “operate the grid reliably and efficiently, provide fair and open transmission access, promote environmental stewardship and facilitate effective markets and promote infrastructure development. CAISO is regulated by FERC and governed by a five-member governing board appointed by the governor.

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

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

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

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

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

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

Demand – The rate at which electric energy is delivered to or by a system or part of a system, generally expressed in kilowatts (kW), megawatts (MW), or gigawatts (GW), at a given instant or averaged over any designated interval of time. Demand should not be confused with Load or Energy.

DR – Demand Response – An opportunity for consumers to play a significant role in the operation of the electric grid by reducing or shifting their electricity usage during peak periods in response to time-based rates or other forms of financial incentives.
/T\ SILICON VALLEY <3/ CLEAN ENERGY
Silicon Valley Clean Energy Revised: February 7, 2024
2 DER – Distributed Energy Resource – A small-scale unit of power generation that operates locally and is connected to a larger power grid at the distribution level.

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

ERRA – Energy Resource Recovery Account – ERRA proceedings are used to determine fuel and purchased power costs which can be recovered in rates. The utilities do not earn a rate of return on these costs, and only recover actual costs. The costs are forecast for the year ahead. If the actual costs are lower than forecast, then the utility gives money back, and vice versa.

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

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

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

GWh – Gigawatt-hour – The unit of energy equal to that expended in one hour at a rate of one billion watts. One GWh equals 1,000 megawatt-hours.

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

IRA – Inflation Reduction Act
IRP – Integrated Resource Plan – A plan which outlines an electric utility’s resource needs in order to meet expected electricity demand long-term.
kW – Kilowatt – Measure of power where power (watts) = voltage (volts) x amperage (amps) and 1 kW = 1000 watts
kWh – Kilowatt-hour – This is a measure of consumption. It is the amount of electricity that is used over some period of time, typically a one-month period for billing purposes. Customers are charged a rate per kWh of electricity used.

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

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

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

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

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

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

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

PCC1 – RPS Portfolio Content Category 1 – Bundled renewables where the energy and REC are dynamically scheduled into a California Balancing Authority (CBA) such as the CAISO. Also known as “in-state” renewables PCC2 – RPS Portfolio Content Category 2 – Bundled renewables where the energy and REC are from out-of-state and not dynamically scheduled to a CBA.

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

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

Power Content Label (PCL) – A user-friendly way of displaying information to California consumers about the energy resources used to generate the electricity they sell, as required by AB 162 (Statue of 2009) and Senate Bill 1305 (Statutes of 1997).

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

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

RE – Renewable Energy – Energy from a source that is not depleted when used, such as wind or solar power.

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

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

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

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

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

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

VPP – Virtual Power Plant – A cloud-based energy supply made up of a collection of an aggregation of distributed energy resources (DERs), such as smart EV chargers, smart thermostats, building energy management systems, battery storage systems, solar PV and smart inverters.
24/7 – Goal of supplying consumer energy demand with 100% carbon-free energy at all hours of the day 1 Resolution 2026-01
RESOLUTION NO. 2026-01

RESOLUTION OF THE BOARD OF DIRECTORS OF SILICON VALLEY CLEAN

ENERGY AUTHORITY COMMENDING CHAIR GEORGE TYSON FOR HIS
DEDICATED SERVICE AS CHAIR OF THE BOARD OF DIRECTORS IN 2025

THE BOARD OF DIRECTORS OF THE SILICON VALLEY CLEAN ENERGY AUTHORITY HEREBY RESOLVES AS FOLLOWS:

WHEREAS, the Silicon Valley Clean Energy Authority (“SVCEA”) was formed on March 31, 2016, with eleven Cities and Towns and the County of Santa Clara deciding to become the initial members; and
WHEREAS, Director George Tyson served his second term as SVCEA’s Board Chair in 2025; and
WHEREAS, Chair Tyson contributed to the thoughtful discussions and recommendations of the Executive Committee and Audit Committee; and WHEREAS, Chair Tyson, along with Vice Chair Larry Klein and Director Pat Showalter, led the review of SVCEA’s Operating Rules and Regulations for potential amendments to propose enhancements and best practices for the future of the agency, meeting with neighboring CCAs and performing research on their bylaws; and WHEREAS, Chair Tyson represented SVCEA at four ribbon-cutting events commemorating a project providing stable and reliable renewable benefits; and WHEREAS, Chair Tyson attended New York Climate Week to receive an Electric Innovation Award on behalf of SVCEA for joint work with Peninsula Clean Energy to support member agencies in adopting reach codes that incentivize all-electric construction and support EV charging at multifamily properties; and WHEREAS, Chair Tyson toured the SunZia Wind Project, one of the largest renewable energy infrastructure projects in the country, which will provide SVCE with 125 megawatts of wind energy; and
WHEREAS, Chair Tyson approved millions of dollars in SVCE programs, such as rebates for customers to reduce use of fossil fuels through electrification, and grants that increase resilience and decarbonize critical community facilities; and WHEREAS, Chair Tyson led the effort to return millions of dollars to SVCE customers in the form of a one-time bill credit to help customers with affordability; and WHEREAS, Chair Tyson runs Board meetings efficiently, with a bit of humor, ensuring decisions are made in a timely manner and that Board members are engaged and all viewpoints are heard; and
Resolution Commending Chair Tyson
2 Resolution 2026-01
NOW, THEREFORE, the Board of Directors of SVCEA hereby commends Chair Tyson and expresses its sincere appreciation for his dedicated service as Chair and as a member of the Board of Directors of the Authority.

ADOPTED AND APPROVED this 14th day of January 2026, by the following vote:

JURISDICTION NAME AYE NO ABSTAIN ABSENT
City of Campbell Director Scozzola
City of Cupertino Director Wang
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 Page
City of Sunnyvale Director Klein
Vice Chair
ATTEST:

Secretary
Resolution Commending Chair Tyson

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Silicon Valley Clean Energy Authority
Board of Directors Meeting
Wednesday, December 10, 2025
7:00 pm
Sunnyvale Civic Center
456 W. Olive Ave
Sunnyvale, CA
Gilroy City Hall
Administration Conference Room
7351 Rosanna Street
Gilroy, CA

DRAFT MEETING MINUTES
Call to Order:

Chair Tyson called the meeting to order at 7:02 p.m.

Roll Call

Present:

George Tyson (Chair), Los Altos Hills
Larry Klein (Vice Chair), Sunnyvale
Elliot Scozzola, Campbell
J.R. Fruen, Cupertino
Zach Hilton, Gilroy (participated remotely)
Sally Meadows, Los Altos
Rob Rennie, Los Gatos
Garry Barbadillo, Milpitas
Bryan Mekechuk, Monte Sereno
Yvonne Martinez Beltran, Morgan Hill
Pat Showalter, Mountain View
Tina Walia, Saratoga

Absent:

Otto Lee, Santa Clara County
A quorum was present.

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

Consent Calendar
Chair Tyson provided a summary of Item 1e) Approve Amendment No. 1 to Employment Agreement for Chief Executive Officer, noting the amendment reflects an extension with Monica Padilla, Chief Executive Officer (CEO), by one year to September 30, 2028; changes salary to $450,000 effective October 1, Item 1a Draft Minutes: 12/10/25 SVCE Regular BOD Meeting SILICON VALLEY \3/ CLEAN ENERGY

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2025; provides an automatic cost of living adjustment of 3% as a maximum in subsequent years; and ensures the contribution from SVCE to her retirement account of 10%.

There were no questions or comments from the Board; there were no requests from the public to speak on any matter on the Consent Calendar.
1a) Approve Minutes of the November 12, 2025, Board of Directors Meeting 1b) Approve Minutes of the November 14, 2025, Board of Directors Special Meeting 1c) Receive October 2025 Treasurer Report
1d) Approve Amendment No. 1 to Employment Agreement for Chief Executive Officer 1e) Authorize the Chief Executive Officer to Execute Agreements with the Cities of Sunnyvale and Los Altos to Administer City Rebates for Home Electrification 1f) Receive Closing Report of the 2025 Legislative Ad Hoc Committee of the Board 1g) Receive Finance and Administration Committee Report 1h) Receive Additional Committees Report
1i) Receive California Community Power Report
MOTION: Director Mekechuk moved and Director Walia seconded the motion to approve the Consent Calendar, Items 1a through 1i.

The motion carried unanimously by verbal roll call vote with Director Lee absent.

Regular Calendar
2) CEO Report (Informational)
CEO Padilla addressed the following in her report:
• Introduction of Blake VandeVelde, Manager of Information Technology, who provided brief welcome comments;
• A reminder that on December 12, 2025 at 10:00 a.m., SVCE will be holding a Special Board of Directors Meeting, in addition to hosting guest speaker Severin Borenstein at 8:30 a.m.; and • Zoe Elizabeth, Director of Decarbonization Policy and Community Strategies, provided an update on Bay Area Air District rules and member agency electric code enhancement efforts.

There were no questions or comments on CEO Padilla’s report. 3) Approve 2026 Silicon Valley Clean Energy Board of Directors Regular Board Meeting Schedule (Action)
Andrea Pizano, Board Clerk, presented the proposed regular Board of Directors meeting schedule for 2026, noting a conflict in November due to the Veterans Day holiday.

Board members discussed availability and preferred timing for a November meeting. Vice Chair Klein noted the potential turnover for Board members in 2026, and suggested a poll could be sent to reconfirm November availability in the new year.

Chair Tyson opened Public Comment.

No speakers.

Chair Tyson closed Public Comment.

MOTION: Vice Chair Klein moved and Director Mekechuk seconded the motion to approve the 2026 Board of Directors regular meeting schedule of the second Wednesday of the month at 7:00 p.m. with a July summer recess and the November meeting to take place on November 13, 2026 at 3:00 p.m.

Item 1a Draft Minutes: 12/10/25 SVCE Regular BOD Meeting

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The motion carried unanimously by verbal roll call vote with Director Lee absent. 4) Approve 2026 Legislative Policy Platform and Identify Focus Areas for the 2026 Legislative Ad Hoc Committee (Action)
Bena Chang, Director of Government and Legislative Affairs, introduced Chris Micheli, SVCE’s state lobbyist from Snodgrass & Micheli, LLC, who provided a state update and forecast of 2026 policies.

Director of Government and Legislative Affairs Chang presented a federal update, reviewed the proposed 2026 Legislative Policy Platform, and requested the Board establish a Legislative Ad Hoc Committee to facilitate engagement between the SVCE Board and staff on legislative issues.

Staff responded to a questions from the Board on potential bill ideas.

Chair Tyson opened Public Comment.

No speakers.

Chair Tyson closed Public Comment
MOTION: Director Martinez Beltran moved and Director Scozzola seconded the motion to approve SVCE’s 2026 Legislative Policy Platform and create the 2026 Legislative Ad Hoc Committee.

Chair Tyson noted membership of the 2026 Legislative Ad Hoc Committee would be selected in 2026.

The motion carried unanimously by verbal roll call vote with Director Lee absent.

Following the vote on Item 4, the Board heard Item 6.
5) Approve Fiscal Year 2025-2026 Budget Update and 2026 Customer Rate Setting (Action) This item was heard following Item 6.

Amrit Singh, Chief Financial Officer (CFO), presented a request for the Board of Directors to authorize the implementation of SVCE generation rate charges and adopt the updated fiscal year 2025-2026 operating budget. CFO Singh reviewed the highlights of the updated financial forecast which included the following:
• 2026 Customer Discount: recommendation of 1% and an additional $12 bill credit for low-income customers;
• The five-year margins remained negative, under a business-as-usual scenario; and • The fiscal year 2026 draw on reserves increased to $60 million from $40 million Also included in the presentation was a comparison of the fiscal year 2026 adopted budget versus the adjusted budget, a rate comparison of 2025 rate to the adopted budget forecast 2026 rate, reserve projections, staff’s proposal to keep the days cash on hand (DCOH) above 250, and a potential rate premium in 2027 to keep the DCOH above 250.

CFO Singh reviewed the staff recommendation for the Board of Directors to:
1) Authorize the CEO to implement SVCE generation rate changes to establish a 1% discount to PG&E’s applicable generation rates, provide a $12 monthly bill credit to CARE/FERA customers, and update the GreenPrime rate premium to $0.0074/kWh, when PG&E’s updated rates are implemented, expected to be January 1, 2026, or after allocation of the sufficient time window for implementing new generation rates in SVCE’s billing system, expected to be within three weeks of PG&E’s release of the new 2026 rates, and
2) Update the fiscal year 2025-2026 operating budget that projects withdrawal of $60.5 million from the reserves, considering updated revenues, power supply expenses, and investment-earning forecasts; and allocation of $5.5 million to the building fund.

Staff responded to Board member questions regarding PG&E rate projections, anticipated PG&E changes in the coming weeks, Power Charge Indifference Adjustment projections, timing of the Annual Item 1a Draft Minutes: 12/10/25 SVCE Regular BOD Meeting

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Electric True-Up (AET) filing for PG&E, minimum target DCOH, and clarifying questions on staff’s recommendation for 2026 rates in comparison to projections for 2027.

Chair Tyson opened Public Comment.

No speakers.

Chair Tyson closed Public Comment.

MOTION: Vice Chair Klein moved and Director Fruen seconded the motion to adopt Resolution 2025-24 approving customer generation rates and the fiscal year 2025-2026 updated budget.

The motion carried by verbal roll call vote with a no vote by Director Barbadillo and Director Lee absent.

Following the vote on Item 5, the Board heard Item 7.
6) Data Center Information (Discussion)
This item was heard following Item 4.

Maren Wenzel, Director of Regulatory, Policy and Planning, presented information on data centers, which included an overview of data centers, California specific issues, and impacts to SVCE, and reviewed next steps in forecasting, regulatory advocacy, and customer engagement.

Staff responded to Board member questions regarding PG&E’s forecast of data center growth, the potential impact to SVCE as a result of PG&E’s Electric Rule 30, data centers in Santa Clara, SVCE’s desire to serve all customers, an estimate of how many racks is a normal amount for AI data centers, clarification on if PG&E’s Electric Rule 30 applies to any load that wants to connect at the transmission level and not only data centers, quarterly report status, state procurement orders, the 6,000 MW of additional net qualifying capacity by 2032 identified by the CPUC’s Needs Assessment, if there will be any challenges with transmission and distribution associated with data centers, transmission constraints, and SVCE’s annual peak load.

Chair Tyson opened Public Comment.

No speakers.

Chair Tyson closed Public Comment.

Following Item 6, the Board considered Item 5.
7) Financial Levers Overview and Introduction (Discussion) This item was heard following Item 5.

CEO Padilla introduced the item, noting it was foundational information for the Special Meeting taking place on Friday, December 12, 2025, and for future discussions.

Justin Zagunis, Director of Customer Success, presented an overview of SVCE’s financial levers, noting projected compression on margins and drawdown from reserves would require SVCE to adjust the way things are currently being done. Director of Customer Success Zagunis reviewed the potential financial levers which included: 1) moving from a rate discount to a premium, 2) loosening clean electricity targets, and 3) scaling back decarbonization programs.

Staff responded to Board member questions on SVCE’s participation in California’s wholesale energy spot market, and if there was a plan to discuss at the Special Meeting on December 12, 2025 the possibility of pulling funds from SVCE’s new headquarters.

Chair Tyson opened Public Comment.

No speakers.

Item 1a Draft Minutes: 12/10/25 SVCE Regular BOD Meeting

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Chair Tyson closed Public Comment.
8) Integrated Decarbonization Roadmap (Discussion)
Director of Decarbonization Policy and Community Strategies Elizabeth and Colleen McCamy, Data Scientist, presented background information on the 2026 Integrated Decarbonization Roadmap, which will build off of seven years of previous work to build a plan focused to overcome future challenges. Staff reviewed emissions sources, customer types, decarbonization trends, and next steps for development of the roadmap which included a discussion at the December 12, 2025 Special Meeting.

Chair Tyson opened Public Comment.

No speakers.

Chair Tyson closed Public Comment.

Board Member Announcements and Future Agenda Items
Director Scozzola apologized for his absence at the November 12, 2025 Board of Directors meeting.

Director Meadows thanked Director Scozzola for his apology and announced the Los Altos City Council unanimously passed the implementation of the residential rebate program for heat pump HVAC systems and heat pump water heaters (HPWH).

Vice Chair Klein noted he connected with staff on a potential future policy discussion relating to remote meeting attendance.

Vice Chair Klein announced he received multiple applications for the 2026 Board Officers Nominating Committee and thanked Directors Showalter and Scozzola for their participation in the committee, which will also include Vice Chair Klein. Vice Chair Klein reminded the Board of Directors to submit their interest in serving as a Board Officer (Chair, Vice Chair, Executive Committee) to Board Clerk Andrea Pizano by close of business on December 12, 2025 and noted a reminder would be also be sent.

CEO Padilla announced the SVCE Office would be closed from December 25, 2025 – January 1, 2026.

Adjourn
Chair Tyson adjourned the meeting at 9:30 p.m.

ATTEST:
________________________
Andrea Pizano, Board Secretary
Item 1a Draft Minutes: 12/10/25 SVCE Regular BOD Meeting

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Silicon Valley Clean Energy Authority
Board of Directors Special Meeting
Friday, December 12, 2025
10:00 am
Juniper Hotel Cupertino
California Ballroom C
10050 S De Anza Blvd
Cupertino, CA 95014

DRAFT MEETING MINUTES
Call to Order:

Chair Tyson called the meeting to order at 10:03 a.m.

Roll Call

Present:

Directors
George Tyson (Chair), Los Altos Hills
Larry Klein (Vice Chair), Sunnyvale
Zach Hilton, Gilroy
Rob Rennie, Los Gatos
Bryan Mekechuk, Monte Sereno
Pat Showalter, Mountain View
Tina Walia, Saratoga
Alternate Directors
Maria Ristow, Los Gatos
Linda Swan, Los Altos Hills

Absent:

Directors
Elliot Scozzola, Campbell
J.R. Fruen, Cupertino
Sally Meadows, Los Altos
Garry Barbadillo, Milpitas
Yvonne Martinez Beltran, Morgan Hill
Otto Lee, Santa Clara County
Alternate Directors
Sergio Lopez, Campbell
Sheila Mohan, Cupertino
Tom Cline, Gilroy
Pete Dailey, Los Altos
Evelyn Chua, Milpitas
Lon Allan, Monte Sereno
Item 1b Draft Minutes: 12/12/25 Board of Directors Special Meeting SILICON VALLEY \3/ CLEAN ENERGY

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Mark Turner, Morgan Hill
Chris Clark, Mountain View
Belal Aftab, Saratoga
Margaret Abe-Koga, Santa Clara County
Murali Srinivasan, Sunnyvale
Regular Calendar
1) SVCE Workshop: Strategies to Meet SVCE's Mission Amidst Changing Conditions Chief Executive Officer (CEO) Monica Padilla welcomed attendees and SVCE staff provided brief introductions. CEO Padilla introduced Beth Vaughan, CalCCA CEO, Mindy Craig and Bianca Hutner from BluePoint Planning, who outlined the workshop agenda.

Directors and Alternates in attendance engaged in an activity to discuss different SVCE stories with varying key elements and program focus, identifying how much each story resonated with them.

The next activity presented various electrification trade-offs and Directors and Alternates were asked to select, in their opinion, which were the more valuable trade-offs for SVCE.

Directors and Alternates shared their responses and discussed common themes amongst the group.

Chair Tyson opened Public Comment.

Terry McCarthy, Monte Sereno resident, participated in the exercises and shared his thoughts on the prompts.

Chair Tyson closed Public Comment.

CEO Padilla outlined next steps in connecting with Directors who were not in attendance and preparing the next set of discussion items with the Board of Directors at a future meeting.

Adjourn
Chair Tyson adjourned the meeting at 11:57 a.m.

ATTEST:
________________________
Andrea Pizano, Board Secretary
Item 1b Draft Minutes: 12/12/25 Board of Directors Special Meeting 1 TREASURER REPORT
Fiscal Year to Date
As of November 30, 2025
(Preliminary & Unaudited)
Issue Date: January 14, 2026
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 8-12
Monthly Change in Net Position 13
Investments Report 14
Customer Accounts and Aging Report 15
Certificate of Compliance 16
SVCE Managed Account & Security Transactions 17-30
Item 1c November 2025 Treasurer Report
©

SILICON VALLEY

CLEAN ENERGY
2

Page 2 ends

Balance Sheet Highlights:
> SVCE operations resulted in an increase in net position of $7.3 million for the month of November or an increase of $15.4 million for the first two months of the fiscal year 2025-2026 (FYTD). > Total Net Position increased to $522.6 million from $515.2 million at the end of October 2025. > SVCE is investing ~98.9% of available funds, recognizing interest/dividend income of $4.2M FYTD. *Does not yet recognize unspent program dollars
**For reconciliation purposes, budget numbers include actual program expenses and depreciation, excludes GASP 96 expenses.

SVCE Yield-bearing Accounts:

Combined Ending Balance* 587.0 M
Total Interest/Div. Earned FYTD 4.2 M
Average Yield to Maturity** 3.91%
* Includes River Bank accounts - Money Market, Collateral and ICS; CAMP; PFM Portfolio ** Average annualized yield for the current month. Investment yields are measured to maturity at market.

SILICON VALLEY CLEAN ENERGY AUTHORITY
Financial Statement Highlights ($ in millions)
November 30, 2025
*** Displays the starting fiscal year net position on Oct. 1, 2025, of $506.9M. 506.9 M 522.6 M
-550 M
-440 M
-330 M
-220 M
-110 M
0 M
110 M
220 M
330 M
440 M
550 M
-25 M
-20 M
-15 M
-10 M
-5 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) Adjusted Budget (Left Y-Axis)** Actual (Left Y-Axes) 537 533
435 427
500
350
120
0 50
100
150
200
250
300
350
400
450
500
550
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
$4.2 M

2.0 M 1.8 M

1.9 M

2.3 M

0.0 M

1.0 M

2.0 M

3.0 M

4.0 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 Adjusted Budget Actual and Accrued Cash Basis Accounting Returns River City Bank
Accounts
7%
California Asset Management
Program (CAMP)
33%
PFM Asset Management Investment
Portfolio
60%
SVCE Accounts
* Earmarked funds are unspent SVCE program and building funds.

DCOH Includes rate stabilization funds.

DCOH is computed as Cash and cash equivalents plus investments divided by daily budgeted expenditures.

October, 2025 results are updated per the Adjusted Budget adopted in December 2025. * Accounting returns investment of income includes unrealized mark-to-market gain or loss of the total investment portfolio as per US GAAP, Actual and Accrued Cash Basis excludes mark-to-market gains (losses).

Item 1c November 2025 Treasurer Report
3

Page 3 ends

Summary of Actual Results vs. Adopted Budget (includes allocated but unspent program dollars):
> Operating margin of $18.7 million (or 25%) was significantly above the Adjusted Budget expectations of $6.1M (8%) operating margin for the fiscal year to date. > FY 2025 Power Supply costs are -17% below Adjusted Budget. > Retail GWh sales landed -2% below Adjusted Budget for the month of November but were +2% for the fiscal year to date.

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

Revenue 35.8 M 37.7 M -5.1% 74.5 M 73.3 M 1.6%
Power Supply Cost 27.4 M 35.5 M -22.8% 55.8 M 67.2 M -16.9% Operating Margin 8.4 M 2.2 M 274.5% 18.7 M 6.1 M 205.8% Operating Expenses (ex Power) 2.4 M 3.6 M -32.7% 5.0 M 7.2 M -31.2% Other Non-Op. Expen. (Income) 3.2 M 3.7 M -13.3% 8.6 M 9.1 M -6.0% Net Increase in Available Fund
Balance 2.7 M -5.1 M -154.4% 5.1 M -10.2 M -150.2%
Customer Load Statistics:

Total Accounts 284,413
Opt-Out Accounts (Month) 17
Opt-Out Accounts (FYTD) 31
Opt-Up Accounts (Month) (6)
Opt-Up Accounts (FYTD) (13)
Program Funds:

General Program Fund
CRCR Fund*
Electrification Discount Fund
Nuclear & Hanford Prog. Funds
Building Fund
* Customer Relief and Community Resilience Fund
** The financial results in this report are preliminary and subject to change pending the closing of the books for the fiscal year. Reflects budgetary transfers to program and building funds offset by higher investment income. $ 7,691,455 $ 7,672,491 $ - $ 18,964
YTD Contributions YTD Expenditures
$ 8,740,312 $ 8,740,312 $ - $ -
$ 76,580
Beginning Balance End Balance
$ 76,714,107 $ 81,650,453

SILICON VALLEY CLEAN ENERGY AUTHORITY
Financial Statement Highlights** ($ in millions)
November 30, 2025
November Fiscal YTD
October - customer demand and revenues exceeded SVCE's
forecast. Additionally, lower power supply costs and reduced operating expenses further improved the net position.

November - weaker revenues due to lower customer demand were offset by lower power supply cost
Lower costs are mostly due to lower sales volume, decline in energy/attribute prices and the timing of inviocing. Staffing vacancies, underrunning professional services, and lower marketing expenses Reflects budgetary transfers to program and building funds offset by investment income. Lower YTD customer demand and a negative true-up settlement, partly offset by $14M liquidated damage payments. $ 8,214,310 $ 13,668,557 $ 5,500,000 $ 45,753
$ 7,251,000 $ 2,314,654
$ 4,911,889 $ 4,835,309 $ -

7.6 M7.8 M
0 M
2 M
4 M
6 M
8 M
10 M
12 M
Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept
Net Increase in Available Fund Balance
Comparing Actuals to Adjusted Budget
Power Supply

90.5%
Personnel

4.1% Contract
Services

4.2%
G & A

0.9%
Depreciation

0.3%
YTD Operating Expenses
-12%
-9%
-6%
-3%
0%
3%
6%
9%
12%
270
290
310
330
350
370
Retail Sales - Actual vs Mid-Year Budget (GWh)
Retail Sales Actual (GWh) Retail Sales Budget (GWh)
Load deviation from the Budget (Right Y-Axes)
256,675
256,860
27,523
27,553

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) Item 1c November 2025 Treasurer Report
4 Current Assets
Cash & Cash Equivalents* $ 236,677,725
Accounts Receivable, net of allowance 31,797,006
Accrued Revenue 26,786,332
Other Receivables 18,283,782
Prepaid Expenses 7,233,695
Deposits 933,991
Investments 98,316,822
Cash equivalents - restricted 1,246,728
Total Current Assets 421,276,081
Noncurrent assets
Investments** 258,393,926
Capital assets, net of depreciation 13,719,895
Total Noncurrent Assets 272,113,821
Total Assets 693,389,902
Current Liabilities
Accrued Cost of Electricity 56,315,824
Accounts Payable 2,127,308
Other accrued liabilities 2,686,050
User Taxes and Energy Surcharges due to other gov'ts 1,228,900 Total Current Liabilities 62,358,082
Noncurrent Liabilities
Supplier security deposits 8,478,125
Total noncurrent liabilities 8,478,125
Total Liabilities 70,836,207
Rate Stabilization Fund 100,000,000
Net investment in capital assets 13,719,895
Restricted for security collateral 1,246,728
Unrestricted (deficit) 507,587,072
Total Net Position $ 522,553,695
* May not account for securities acquired towards the end of the month but not yet paid. ** May include securities acquired towards the end of the month but not yet paid.

NET POSITION

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF NET POSITION
As of November 30, 2025
ASSETS

LIABILITIES

DEFERRED INFLOWS OF RESOURCES
Item 1c November 2025 Treasurer Report
5 OPERATING REVENUES
Electricity Sales, Net $ 74,080,576
GreenPrime electricity premium 390,600
Liquidated damages 27,500
TOTAL OPERATING REVENUES 74,498,676

OPERATING EXPENSES
Cost of Electricity 55,817,328
Contract services 2,596,776
Staff compensation and benefits 2,543,967
Program incentives 1,540,430
Other operating expenses 570,330
Depreciation and amortization 159,210
TOTAL OPERATING EXPENSES 63,228,041
OPERATING INCOME(LOSS) 11,270,635

NONOPERATING REVENUES (EXPENSES)
Investment Income 4,161,380
Financing costs (11,719)
TOTAL NONOPERATING REVENUES (EXPENSES) 4,149,661
CHANGE IN NET POSITION 15,420,296
Net Position at beginning of period 507,133,399
Net Position at end of period $ 522,553,695

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF REVENUES, EXPENSES
October 1, 2025 through November 30, 2025

AND CHANGES IN NET POSITION
Item 1c November 2025 Treasurer Report
6 CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers $ 72,116,324
Receipts of liquidated damages 27,500
Receipts of wholesale sales 7,357,397
Payments to suppliers for electricity (71,870,355)
Payments of security deposits (30,000)
Payments for other goods and services (4,940,004)
Payments for program incentives (1,830,915)
Payments for staff compensation and benefits (2,858,724) Tax and surcharge payments to other governments (2,503,897) Net cash provided (used) by operating activities (4,532,674)

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Payments of subscription liability and related interest (114,260) Acquisition of capital assets (45,158)
Net cash provided (used) by capital and related
financing activities (159,418)

CASH FLOWS FROM INVESTING ACTIVITIES
Investment income received 3,827,864
Proceeds from investment sales 16,725,229
Purchase of investments (93,673,594)
Net cash provided (used) by investing activities (73,120,501) Net change in cash and cash equivalents (77,812,593)
Cash and cash equivalents at beginning of year 315,737,046 Cash and cash equivalents at end of period $ 237,924,453 Reconciliation to the Statement of Net Position
Cash and cash equivalents - unrestricted 236,677,725
Cash equivalents - restricted 1,246,728
Total cash and cash equivalents $ 237,924,453

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF CASH FLOWS
October 1, 2025 through November 30, 2025
Item 1c November 2025 Treasurer Report
7 Operating Income (loss) $ 11,270,635
Adjustments to reconcile operating income to net cash
provided (used) by operating activities
Depreciation expense 159,210
(Increase) decrease in accounts receivable (8,702,992)
(Increase) decrease in accrued revenue 4,310,742
(Increase) decrease in other receivables 7,568,717
(Increase) decrease in prepaid expenses (6,387,688)
(Increase) decrease in current deposits (56,500)
Increase (decrease) in accrued cost of electricity (10,631,916) Increase (decrease) in accounts payable (413,438)
Increase (decrease) in accrued liabilities (1,182,941)
Increase (decrease) in taxes and surcharges due to other governments (466,503) Net cash provided (used) by operating activities $ (4,532,674)

NONCASH INVESTING ACTIVITIES
Change in fair value of investments $ 454,990
Change in interest receivable $ (121,474)

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, 2025 through November 30, 2025
Item 1c November 2025 Treasurer Report
8 FYTD FYTD FY 2024-25 FY 2024-25
OPERATING REVENUES Actual Adjusted Budget $ % Adjusted Budget Remaining Budget Energy Sales $75,009,196 $73,844,831 $ 1,164,365 2% $321,123,118 $246,113,922 Green Prime Premium 390,600 400,489 (9,889) -2% $2,468,912 2,078,312 Customer bill relief (existing CARE/FERA) (928,620) (930,825) 2,205 0% -$4,268,498 - Other Income 27,500 - 27,500 n/a $0 (27,500)
TOTAL OPERATING REVENUES 74,498,676 73,314,495 1,184,181 2% 319,323,532 248,164,734

ENERGY EXPENSES
Power Supply 55,817,328 67,206,021 (11,388,693) -17% 344,220,910 288,403,582 Operating Margin 18,681,348 6,108,474 12,572,874 206% (24,897,378) (40,238,848)

OPERATING EXPENSES
Data Management 601,127 627,270 (26,143) -4% 3,763,620 3,162,493 PG&E Fees 200,575 261,450 (60,875) -23% 1,568,700 1,368,125 Salaries & Benefits 2,543,967 3,145,062 (601,095) -19% 18,870,370 16,326,403 Professional Services 707,674 1,816,959 (1,109,285) -61% 10,901,756 10,194,082 Marketing & Promotions 232,465 391,125 (158,660) -41% 2,346,750 2,114,285 General & Administrative 669,757 957,005 (287,248) -30% 5,742,030 5,072,273 TOTAL OPERATING EXPENSES 4,955,565 7,198,871 (2,243,306) -31% 43,193,226 38,237,661 OPERATING INCOME/(LOSS) 13,725,783 (1,090,397) 14,816,180 -1359% (68,090,604) (81,816,387)

NON-OPERATING REVENUES
Investment Income 4,161,380 3,704,173 457,207 12% 20,882,403 16,721,023 TOTAL NON-OPERATING REVENUES 4,161,380 3,704,173 457,207 12% 20,882,403 16,721,023

NON-OPERATING EXPENSES
Financing - 4,767 (4,767) -100% 28,600 28,600

CAPITAL EXPENDITURES, TRANSFERS,
& OTHER
Capital Outlay - 85,333 (85,333) -100% 512,000 512,000
Building Fund 5,500,000 5,500,000 0% 5,500,000 -
Transfer to Programs Fund 7,251,000 7,251,000 - 0% 7,251,000 - TOTAL OTHER USES 12,751,000 12,836,333 (85,333) -1% 13,263,000 512,000

NET INCREASE(DECREASE) IN AVAILABLE
FUND BALANCE $ 5,136,163 $ (10,227,324) $ 15,363,487 -150% -$60,499,802 -$65,635,965 Variance

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through November 30, 2025
Item 1c November 2025 Treasurer Report
9 Net Increase (decrease) in available fund balance
per budgetary comparison schedule $ 5,136,163
Adjustments needed to reconcile to the changes
in net position in the Statement of Revenues,
Expenses and Changes in Net Position
Subtract depreciation expense (159,210)
Subract program expense not in operating budget (2,410,198) Add back portion of lease payment applied to reduce lease liability 102,541 Add back transfer to Program funds 12,751,000
Add back capital asset acquisition -
Change in Net Position 15,420,296

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGET RECONCILIATION TO STATEMENT OF

REVENUES, EXPENSES AND CHANGES IN NET POSITION
October 1, 2025 through November 30, 2025

OPERATING FUND
Item 1c November 2025 Treasurer Report
10 BUDGET ACTUAL/
REVENUE & OTHER SOURCES: ACTUAL REMAINING BUDGET
Transfers in - General Programs $ 7,251,000 $ 7,251,000 $ - 100.0% Total $ 7,251,000 $ 7,251,000 $ -
EXPENDITURES & OTHER USES:

Program expenditures 22,242,570 2,314,654 19,927,916 10.4% Net increase (decrease) in fund balance $ (14,991,570) $ 4,936,346 Fund balance at beginning of period 76,714,107
Fund balance at end of period $81,650,453

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

Other program expenditures 963,704 76,580 887,124 7.9%
Total Program expenditures 963,704 76,580 887,124
Net increase (decrease) in fund balance $ (963,704) $ (76,580) Fund balance at beginning of period 4,911,889
Fund balance at end of period $4,835,309

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through November 30, 2025

CUSTOMER RELIEF & COMMUNITY RESILIENCY FUND

GENERAL PROGRAM FUND

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through November 30, 2025
BUDGET
BUDGET
Item 1c November 2025 Treasurer Report
11 BUDGET ACTUAL/
REVENUE & OTHER SOURCES: BUDGET ACTUAL REMAINING BUDGET Transfer from Operating Fund $ - $ - $ - n/a
EXPENDITURES & OTHER USES:

Program expenditures 4,500,000 - 4,500,000 0.0%
Net increase (decrease) in fund balance $ (4,500,000) 0 Fund balance at beginning of period 8,740,312
Fund balance at end of period $8,740,312

BUDGET ACTUAL/
REVENUE & OTHER SOURCES: BUDGET ACTUAL REMAINING BUDGET Transfer in - Building Fund $ 5,500,000 $ 5,500,000 $ - 100.0% EXPENDITURES & OTHER USES:

Capital outlay 8,421,000 45,753
Other building expenditures - -
45,753
Net increase (decrease) in fund balance $ (2,921,000) 5,454,247 Fund balance at beginning of period 8,214,310
Fund balance at end of period $13,668,557

BUILDING FUND

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through November 30, 2025

ELECTRIFICATION DISCOUNT FUND

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through November 30, 2025
Item 1c November 2025 Treasurer Report
12 BUDGET ACTUAL/
REVENUE & OTHER SOURCES: ACTUAL REMAINING BUDGET
Transfers in - Nuclear Allocation $ - $ -
Transfer in - Hanford Emissions Mitigation Fund $ - $ - $ - n/a Total $ - $ - $ -
EXPENDITURES & OTHER USES:

Program expenditures 2,142,000 18,964 2,123,036
Net increase (decrease) in fund balance $ (2,142,000) -$18,964 Fund balance at beginning of period 7,691,455
Fund balance at end of period $7,672,491
BUDGET

NUCLEAR AND HANFORD PROGAM FUNDS

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through November 30, 2025
Item 1c November 2025 Treasurer Report
13 October November December January February March April May June July August September YTD

OPERATING REVENUES
Electricity sales, net $ 38,508,886 $ 35,571,690 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 74,080,576 Green electricity premium $ 204,210 $ 186,390 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 390,600 Liquidated damages $ 5,750 $ 21,750 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 27,500 Other Income $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - - Total operating revenues 38,718,846 35,779,830 - - - - - - - - - - 74,498,676

OPERATING EXPENSES
Cost of electricity 28,412,034 $ 27,405,294 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 55,817,328 Staff compensation and benefits 1,276,785 $ 1,267,182 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 2,543,967 Data manager 301,259 $ 299,868 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 601,127 Service fees - PG&E 100,223 $ 100,352 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 200,575 Consultants and other professional fees 899,290 $ 895,784 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 1,795,074 Program incentives 1,146,022 $ 394,408 1,540,430
Other operating expenses 279,315 $ 291,015 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 570,330 Depreciation 79,605 $ 79,605 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 159,210 Total operating expenses 32,494,533 30,733,508 - - - - - - - - - - 63,228,041 Operating income (loss) 6,224,313 5,046,322 - - - - - - - - - - 11,270,635

NONOPERATING REVENUES (EXPENSES)
Grant income - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - - Interest income 1,865,552 $ 2,295,828 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 4,161,380 Financing costs (3,797) $ (7,922) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - (11,719) Total nonoperating revenues (expenses) 1,861,755 2,287,906 - - - - - - - - - - 4,149,661 CHANGE IN NET POSITION $ 8,086,068 $ 7,334,228 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 15,420,296

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN NET POSITION
October 1, 2025 through November 30, 2025
Item 1c November 2025 Treasurer Report
14 Ending Balance of SVCE Accounts: Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep River City Bank Accounts $ 40,453,602 $ 39,908,498 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - California Asset Management Program (CAMP) $ 204,479,801 $ 198,168,622 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - PFM Asset Management Investment Portfolio $ 361,652,377 $ 359,561,190 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Total Ending Balance $ 606,585,779 $ 597,638,310 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Return On Investments:

Annual % Yield Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep River City Bank Accounts 3.92% 3.70%
California Asset Management Program (CAMP) 4.26% 4.10%
PFM Asset Management Investment Portfolio * 3.90% 3.82% Average Return On Investments: 4.02% 3.91%
* Yield to Maturity at Market.

Accounting Returns Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep River City Bank Accounts $ 20,457 $ 13,570 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - California Asset Management Program (CAMP) $ 825,532 $ 688,821 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Other Interest Income $ 4,447 $ 3,138 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - PFM Asset Management Investment Portfolio * $ 1,017,502 $ 1,590,299 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Total Interest and Investment Gains $ 1,867,938 $ 2,295,828 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - * Includes change in current market value (month over month), accrued interest and money market dividends (as per US GAAP).

Actual and Accrued Cash Basis Returns Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep River City Bank Accounts $ 20,457 $ 13,570 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Camp Pool Composition (based on market value): $ 825,532 $ 688,821 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Other Interest Income $ 4,447 $ 3,138 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - PFM Asset Management Investment Portfolio * $ 1,111,671 $ 1,125,280 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Total Interest and Investment Gains $ 1,962,107 $ 1,830,809 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - * Includes interest/dividends/coupons received, net realized gains/losses and monthly change in accrued interest.

CAMP Portfolio Statistics
As of November 30, 2025
Beginning of the Month Market Value $ 204,479,801
Ending of The Month Market Value $ 198,168,622
Monthly Distribution Yield 4.10% Weighted Average Maturity (days) 45 PFM Portfolio Statistics
As of November 30, 2025
Portfolio Par Value $ 357,237,380
Portfolio Market Value (icl. Accrued Interest) $ 359,561,190 Yield to Maturity at Cost 4.18%
Yield to Maturity at Market 3.82%
Benchmark Yield* 3.54%
Portfolio Effective Duration (years) 1.34 Weighted Average Maturity (days) 681 *ICE BofA 0-3 Year U.S. Treasury Index
SVCE Investment Policy:
https://svcleanenergy.org/wp-content/uploads/FP-08_Investments.pdf

SILICON VALLEY CLEAN ENERGY AUTHORITY

INVESTMENTS SUMMARY
October 1, 2025 through November 30, 2025

5.46%

22.21%

33.20%

26.56%

7.13%

5.44%

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
37%
Commercial
Paper
9%
CAMP Pool
0%
Federal Agency Com MBS
6%
Supra-National
Agency
0%
Corp. & Bank Notes
25% Certificate of Deposit
4%
Asset-Backed
Security
19%
SVCE PFM Portfolio Investments
Repurchase
Agreements,

35.5%
Certificates of
Deposit, 24.7%
Commercial
Paper, 34.0%
Bank Note,

0.8%
US Treasuries,

1.9%
Money Market
Funds, 0.6%
Corporate
Notes, 2.2%
Camp Pool Composition (based on market value)
Item 1c November 2025 Treasurer Report
15 October November December January February March April May June July August September YTD Retail Sales Actual (GWh) 330.4 320.7 651
Retail Sales Budget (GWh) 309.2 327.3 344.7 359.4 335.7 321.8 307.1 305.2 319.1 342.7 350.3 345.9 637 Load deviation from the Budget (Right Y-Axes)6.8% -2.0% 2.3% Customer Participation Rate Res 96.3% 96.3%
Customer Participation Rate Com 96.5% 96.4%
Total Accounts 284,198 284,413 284,413
Opt-Out Accounts 14 17 31
Opt-Up Accounts -7 -6 -13

0.11 40.52
SVCE Arrearager Total for customers 31+ days late and 120+ days late Age Summary (as of 12/1/2025) Date Amount
<30 days $28,927,001 High 11/29/2021 $7.99M
<60 days $1,773,892 Low 4/17/2020 $2.54M
<90 days $1,041,740 Current 12/1/2025 $6.5 M
<120 days $649,473
Older $3,058,177

October 2025 FYTD
Bad Debt % (Budget )

0.75%
Bad Debt % (Actual)

0.37%

SILICON VALLEY CLEAN ENERGY AUTHORITY

RETAIL SALES, CUSTOMER ACCOUNTS AND AGING REPORT
Accounts Receivable Days
41 Days
$35,450,283

TOTAL DUE
• 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 24-'25 25-'26 Total (L Axes) $308,552 $417,275 $415,187 $639,455 $885,995 $1,484,75 $1,539,43 $1,573,83 $273,736 % Revenue 0.00123370.001420730.00135960.002535840.002298290.003276810.00288020.003336640.0021357 Av./Month (R Axes) $25,713 $34,773 $34,599 $53,288 $73,833 $123,729 $128,286 $131,153 $136,868 $-
$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 1c November 2025 Treasurer Report
16 Item 1c November 2025 Treasurer Report
Silicon Valley Clean Energy November 30, 2025
Certificate of Compliance
During the reporting period for the month ended November 30, 2025, the account(s) managed by PFM Asset Management ("PFMAM”) were incompliance withthe applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged:PFM Asset Management, a division of U.S. Bancorp Asset Management, Inc.

Note: Pre- and post-trade compliance for the account(s)managed by PFM Asset Management is provided via Bloomberg Financial LP Asset and Investment Management ("AIM"). 17 Item 1c November 2025 Treasurer Report
CAMtP Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 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
1 BUY
10/28/25 11/05/25 COPAR 2025-1 A3
DTD 11/05/2025 3.850% 07/15/2030
14043YAD7 820.000.00 (819.826.32) 0.00 (819.826.32)
10/28/25 11/05/25 GMCAR 2025-4 A2A
DTD 11/05/2025 3.880% 12/18/2028
36273EAB9 2,795,000.00 (2,794,905.25) 0.00 (2.794.905.25) 11/03/25 11/05/25 NOVARTIS CAPITAL CORP (CALLABLE)
DTD 11/05/2025 3.900% 11/05/2028
66989HAX6 955,000.00 (954,789.90) 0.00 (954.789.90)
11/03/25 11/05/25 NOVARTIS CAPITAL CORP (CALLABLE)
DTD 11/05/2025 3.900% 11/05/2028
66989HAX6 750,000.00 (750,022.50) 0.00 (750,022.50)
11/03/25 11/06/25 ALPHABET INC (CALLABLE)
DTD 11/06/2025 3.875% 11/15/2028
02079KAV9 285.000.00 (284,754.90) 0.00 (284.754.90)
11/04/25 11/05/25 NOVARTIS CAPITAL CORP (CALLABLE)
DTD 11/05/2025 3.900% 11/05/2028
66989HAX6 725,000.00 (725,181.25) 0.00 (725,181.25)
11/04/25 11/07/25 US TREASURY N/B
DTD 10/15/2025 3.500% 10/15/2028
91282CPC9 2.000,000.00 (1.995.390.63) (4.423.08) (1.999.813.71) 11/05/25 11/07/25 PACCAR FINANCIAL CORP
DTD 11/07/2025 4.000% 11/07/2028
69371RU20 625,000.00 (624,650.00) 0.00 (624,650.00)
11/05/25 11/12/25 HAROT 2025-4 A3
DTD 11/12/2025 3.980% 06/17/2030
43814XAD5 1.520.000.00 (1.519.705.73) 0.00 (1.519.705.73) 11/05/25 11/12/25 HART 2025-D A3
DTD 11/12/2025 3.990% 09/16/2030
44891XAD9 1,580,000.00 (1,579,866.33) 0.00 (1,579,866.33) 11/06/25 11/07/25 COMCAST CORP (CALLABLE)
DTD 10/05/2018 4.150% 10/15/2028
20030NCT6 1.425.000.00 (1,427,807.25) (3.613.96) (1.431.421.21) 11/10/25 11/12/25 US TREASURY N/B
DTD 10/15/2025 3.500% 10/15/2028
91282CPC9 1,200,000.00 (1,196,765.63) (3.230.77) (1,199,996.40) 11/10/25 11/14/25 CATERPILLAR FINL SERVICE
DTD 11/14/2025 3.950% 11/14/2028
14913UBD1 2,000.000.00 (1.998.940.00) 0.00 (1.998.940.00) 11/13/25 11/18/25 US TREASURY N/B
DTD 10/31/2025 3.500% 10/31/2027
91282CPE5 1,500,000.00 (1.497,421.88) (2.610.50) (1.500,032.38) 11/17/25 11/20/25 AMAZON.COM INC (CALLABLE)
DTD 11/20/2025 3.900% 11/20/2028
023135CS3 920.000.00 (919,797.60) 0.00 (919,797.60)
11/18/25 11/21/25 PFIZER INC
DTD 11/21/2025 3.875% 11/15/2027
717081F37 915,000.00 (914,899.35) 0.00 (914,899.35)
11/18/25 11/25/25 VZMT 2025-9 A1A
DTD 11/25/2025 3.960% 10/21/2030
92348KEV1 1.420.000.00 (1.419.766.27) 0.00 (1,419.766.27) PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 48
18 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type
Trade Settle Security Description CUSIP
Principal
Par Proceeds
Accrued
Interest Total
Realized G/L
Cost
Realized G/L
Amort Cost
Sale
Method
BUY
11/18/25 11/25/25
11/18/25 11/25/25
VALET 2025-2 A3
DTD 11/25/2025 3.920% 03/20/2030
FORDO 2025-C A3
DTD 11/25/2025 3.900% 06/15/2030
92869OAD1
34535LAD8

1.240.000.00 (1.239.791.93)
970.000.00 (969.848.68)

0.00 0.00
(1,239,791.93)
(969.848.68)
Transaction Type Sub-Total 23,645,000.00 (23,634,131.40) (13,878.31) (23,648,009.71) CALL
11/25/25 11/25/25 GOLDMAN SACHS GROUP INC
(CALLABLE)
DTD 02/25/2016 3.750% 02/25/2026
38143U8H7 400,000.00 400,000.00 3.750.00 403,750.00 18.320.00 0.00 Transaction Type Sub-Total 400,000.00 400,000.00 3,750.00 403,750.00 18,320.00 0.00

INTEREST
DTD 09/01/2016 2.570% 07/01/2026
11/01/25 11/01/25 CINTAS CORPORATION NO. 2 17252MAR1 0.00 16,811.08 16,811.08 11/01/25 11/25/25
(CALLABLE)
DTD 05/02/2025 4.200% 05/01/2028
FHMS K067 A2 3137FAWS3 0.00 4,591.38 4,591.38
11/01/25 11/25/25
DTD 09/01/2017 3.194% 07/01/2027
FHMS K054 A2 3137BNGT5 0.00 1.781.52 1,781.52
11/01/25 11/25/25
DTD 04/01/2016 2.745% 01/01/2026
FNA 2024-M6 A2 3136BTGM9 0.00 5.001.43 5,001.43
11/01/25 11/25/25
DTD 11/01/2024 3.001% 07/01/2027
FHMS K059 A2 3137BSRE5 0.00 1.815.65 1,815.65
11/01/25 11/25/25
DTD 11/01/2016 3.120% 09/01/2026
FHMS K069 A2 3137FBU79 0.00 1.941.22 1,941.22
11/01/25 11/25/25
DTD 11/01/2017 3.187% 09/01/2027
FHMS K079 A2 3137FGZT5 0.00 4,907.50 4,907.50
11/01/25 11/25/25
DTD 08/01/2018 3.926% 06/01/2028
FHMS K075 A2 3137F4X72 0.00 4,486.46 4,486.46
11/01/25 11/25/25
DTD 04/01/2018 3.650% 02/01/2028
FHMS K057 A2 3137BROJ7 0.00 2,308.07 2,308.07
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 49
19 Item 1c November 2025 Treasurer Report
RfVLLr% Managed Account Security Transactions & Interest ror me nontn rnaing novemDer 30, 2025 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal Accrued Realized G/L Realized G/L Sale Trade Settle Security Description CUSIP Par Proceeds Interest Total Cost Amort Cost Method

I INTEREST
11/01/25 11/25/25 FHMS K076 A2
DTD 05/01/2018 3.900% 04/01/2028
3137FEZU7 0.00 3,900.00 3,900.00
11/01/25 11/25/25 FHMS K737 A2
DTD 01/01/2020 2.525% 10/01/2026
3137FQXJ7 0.00 2,209.37 2,209.37
11/01/25 11/25/25 FHMS K068 A2
DTD 10/01/2017 3.244% 08/01/2027
3137FBBX3 0.00 2,297.83 2.297.83
11/01/25 11/25/25 FHMS KJ28 A2
DTD 02/01/2020 2.308% 10/01/2027
3137FREE7 0.00 2.525.36 2.525.36
11/01/25 11/25/25 FHMS K074 A2
DTD 03/01/2018 3.600% 01/01/2028
3137F4D41 0.00 3,000.00 3.000.00
11/01/25 11/25/25 FHMS K739 A2
DTD 11/01/2020 1.336% 09/01/2027
3137F64P9 0.00 2,623.44 2,623.44
11/01/25 11/25/25 FHMS K736 A2
DTD 09/01/2019 2.282% 07/01/2026
3137FNWX4 0.00 1,264.66 1,264.66
11/01/25 11/25/25 FHMS K066 A2
DTD 08/01/2017 3.117% 06/01/2027
3137F2LJ3 0.00 2.727.38 2.727.38
11/01/25 11/25/25 FNA 2018-M2 A2
DTD 02/01/2018 3.026% 01/01/2028
3136B0YM2 0.00 2.909.36 2,909.36
11/01/25 11/25/25 FHMS K058 Al
DTD 11/01/2016 2.340% 07/01/2026
3137BSP64 0.00 368.57 368.57
11/01/25 11/25/25 FHMS K065 Al
DTD 07/01/2017 2.864% 10/01/2026
3137F1G36 0.00 685.32 685.32
11/01/25 11/25/25 FHMS K063 A2
DTD 03/01/2017 3.430% 01/01/2027
3137BVZ82 0.00 6.359.79 6.359.79
11/07/25 11/07/25 CITIGROUP INC (CALLABLE)
DTD 05/07/2025 4.643% 05/07/2028
172967PZ8 0.00 19.732.75 19,732.75
11/07/25 11/07/25 CREDIT INDUST ET COMM NY
DTD 11/08/2024 4.550% 11/07/2025
22536WJJ6 0.00 92,011.11 92.011.11
11/09/25 11/09/25 CUMMINS INC (CALLABLE)
DTD 05/09/2025 4.250% 05/09/2028
231021AY2 0.00 2.975.00 2.975.00
11/12/25 11/12/25 APPLE INC (CALLABLE)
DTD 05/12/2025 4.000% 05/12/2028
037833EY2 0.00 35.000.00 35,000.00
PPM Asset Management a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 50
20 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 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
11/13/25 11/13/25 NATIONAL RURAL UTIL COOP
(CALLABLE)
DTD 11/02/2023 5.600% 11/13/2026
63743HFK3 0.00 8,540.00 8,540.00
11/13/25 11/13/25 ROCHE HOLDINGS INC (CALLABLE)
DTD 11/13/2023 5.265% 11/13/2026
771196CE0 0.00 20,138.63 20.138.63
11/13/25 11/13/25 PNC BANK NA (CALLABLE)
DTD 05/13/2025 4.543% 05/13/2027
69353RFY9 0.00 10,562.48 10.562.48
11/13/25 11/13/25 MERCEDES-BENZ FIN NA
DTD 11/15/2024 4.800% 11/13/2026
58769JBB2 0.00 24.000.00 24.000.00
11/14/25 11/14/25 TOYOTA MOTOR CREDIT CORP
DTD 05/15/2025 4.500% 05/14/2027
89236TNG6 0.00 9.845.00 9,845.00
11/15/25 11/15/25 DCENT 2023-Al A
DTD 04/11/2023 4.310% 03/15/2028
254683CY9 0.00 4,669.17 4,669.17
11/15/25 11/15/25 KCOT 2025-1A A2
DTD 02/19/2025 4.610% 12/15/2027
50117FAB7 0.00 2.439.46 2,439.46
11/15/25 11/15/25 WFCIT 2025-Al A
DTD 06/10/2025 4.340% 05/15/2030
929700AM 0.00 4,068.75 4,068.75
11/15/25 11/15/25 AMXCA 2025-1 A
DTD 02/11/2025 4.560% 12/17/2029
02582JKM1 0.00 6,137.00 6,137.00
11/15/25 11/15/25 KCOT 2024-1A A2
DTD 02/21/2024 5.390% 01/15/2027
5O117BAB6 0.00 837.34 837.34
11/15/25 11/15/25 FORDO 2024-D A2A
DTD 11/22/2024 4.590% 10/15/2027
34535VABO 0.00 1,340.90 1,340.90
11/15/25 11/15/25 COMET 2024-Al A
DTD 09/24/2024 3.920% 09/15/2029
14041NGE5 0.00 4,736.67 4,736.67
11/15/25 11/15/25 FORDO 2024-A A2A
DTD 03/19/2024 5.320% 01/15/2027
34535EAB8 0.00 108.18 108.18
11/15/25 11/15/25 US TREASURY N/B
DTD 05/15/2024 4.500% 05/15/2027
91282CKR1 0.00 157.500.00 157,500.00
11/15/25 11/15/25 TAOT 2024-A A3
DTD 01/30/2024 4.830% 10/16/2028
89238DAD0 0.00 1,270.51 1,270.51
11/15/25 11/15/25 MBART 2025-1 A2A
DTD 01/23/2025 4.500% 02/15/2028
58773DAB0 0.00 4.660.35 4,660.35
PFM Asset Management a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 51
21 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal Accrued Realized G/L Realized G/L Sale Trade Settle Security Description CUSIP Par Proceeds Interest Total Cost Amort Cost Method

INTEREST
11/15/25 11/15/25 W0ART 2025-C A2A
DTD 08/13/2025 4.190% 10/16/2028
981936AB3 0.00 2,863.17 2,863.17
11/15/25 11/15/25 NAROT 2025-A A3
DTD 05/27/2025 4.490% 12/17/2029
65481GAD7 0.00 4,620.96 4,620.96
11/15/25 11/15/25 COMET 2025-Al A
DTD 09/16/2025 3.820% 09/16/2030
14O41NGF2 0.00 7.543.97 7,543.97
11/15/25 11/15/25 US TREASURY N/B
DTD 05/15/2025 3.750% 05/15/2028
91282CND9 0.00 37.500.00 37,500.00
11/15/25 11/15/25 FORDO 2025-A A2A
DTD 03/25/2025 4.470% 12/15/2027
34535KAB4 0.00 7.246.36 7,246.36
11/15/25 11/15/25 US TREASURY N/B
DTD 11/15/2018 3.125% 11/15/2028
9128285M8 0.00 42,968.75 42,968.75
11/15/25 11/15/25 NAROT 2024-B A2A
DTD 10/23/2024 4.510% 06/15/2027
65479WAB0 0.00 2.077.66 2,077.66
11/15/25 11/15/25 CHAIT 2024-Al A
DTD 01/31/2024 4.600% 01/15/2029
161571HV9 0.00 2.664.17 2.664.17
11/15/25 11/15/25 WOART 2025-D A2A
DTD 10/15/2025 3.910% 02/15/2029
98165HAB3 0.00 6,516.67 6,516.67
11/15/25 11/15/25 NAROT 2024-A A2A
DTD 05/22/2024 5.470% 12/15/2026
65479UAB4 0.00 373.15 373.15
11/15/25 11/15/25 USAOT 2025-A A3
DTD 10/09/2025 3.950% 12/17/2029
90327HAC3 0.00 1.897.10 1,897.10
11/15/25 11/15/25 HAROT 2024-4 A2
DTD 10/24/2024 4.560% 03/15/2027
43816DAB1 0.00 2.767.78 2,767.78
11/15/25 11/15/25 ALLYA 2023-1 A3
DTD 07/19/2023 5.460% 05/15/2028
02007WAC2 0.00 1.451.36 1,451.36
11/15/25 11/15/25 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 0.00 1.473.25 1,473.25
11/15/25 11/15/25 HART 2024-C A2A
DTD 10/16/2024 4.530% 09/15/2027
448976AB6 0.00 1.848.65 1,848.65
11/15/25 11/15/25 COPAR 2024-1 A2A
DTD 11/26/2024 4.610% 10/15/2027
14O43NAB5 0.00 731.09 731.09
11/15/25 11/15/25 HART 2024-B A2A
DTD 07/24/2024 5.150% 06/15/2027
44934OAB7 0.00 798.17 798.17
PPM Asset Management, a division of
U.S. Bancorp Asset Management. Inc.

Account 4025-002 Page 52
22 Item 1c November 2025 Treasurer Report
CA Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal Accrued Realized G/L Realized G/L Sale Trade Settle Security Description CUSIP Par Proceeds Interest Total Cost Amort Cost Method

INTEREST
11/15/25 11/15/25 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 0.00 3.056.66 3.056.66
11/15/25 11/15/25 FORDO 2024-C A2A
DTD 09/20/2024 4.320% 08/15/2027
34532UAB5 0.00 1,258.85 1,258.85
11/15/25 11/15/25 TAOT 2024-B A2A
DTD 04/30/2024 5.410% 03/15/2027
89237NAB3 0.00 313.55 313.55
11/15/25 11/15/25 AMXCA 2025-4 A
DTD 07/22/2025 4.300% 07/15/2030
025823KV1 0.00 2,938.33 2,938.33
11/15/25 11/15/25 TAOT 2024-C A2A
DTD 07/30/2024 5.160% 05/17/2027
89237OAB6 0.00 418.91 418.91
11/15/25 11/15/25 TAOT 2025-D A3
DTD 10/23/2025 3.840% 06/17/2030
89231GAD0 0.00 3,449.60 3,449.60
11/15/25 11/15/25 BACCT 2024-Al A
DTD 06/13/2024 4.930% 05/15/2029
05522RDJ4 0.00 4,231.58 4,231.58
11/15/25 11/15/25 HART 2025-C A2A
DTD 09/17/2025 3.970% 07/17/2028
44935JAB2 0.00 8.237.75 8,237.75
11/15/25 11/15/25 ALLYA 2024-2 A3
DTD 09/27/2024 4.140% 07/16/2029
02007NAC2 0.00 2,277.00 2,277.00
11/15/25 11/15/25 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
025823KD1 0.00 3,595.62 3,595.62
11/15/25 11/15/25 USAOT 2024-A A2
DTD 07/30/2024 5.250% 03/15/2027
90327VAB4 0.00 652.50 652.50
11/15/25 11/15/25 CHAIT 2023-Al A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 0.00 3,461.50 3,461.50
11/15/25 11/15/25 WOART 2024-B A2A
DTD 05/22/2024 5.480% 09/15/2027
98164HAB4 0.00 141.52 141.52
11/15/25 11/15/25 BAAT 2024-1A A3
DTD 05/22/2024 5.350% 11/15/2028
09709AAC6 0.00 540.29 540.29
11/15/25 11/15/25 HART 2022-C A3
DTD 11/09/2022 5.390% 06/15/2027
44933DAD3 0.00 598.89 598.89
11/15/25 11/15/25 HART 2025-A A3
DTD 03/12/2025 4.320% 10/15/2029
44935CAD3 0.00 6,102.00 6.102.00
11/15/25 11/15/25 TAOT 2024-D A2A
DTD 10/17/2024 4.550% 08/16/2027
89239TAB8 0.00 1,063.75 1,063.75
PPM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 53
23 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal Accrued Realized G/L Realized G/L Sale Trade Settle Security Description CUSIP Par Proceeds Interest Total Cost Amort Cost Method

INTEREST
11/15/25 11/15/25 W0ART 2024-C A2A
DTD 08/20/2024 4.780% 01/18/2028
98164NAB1 0.00 1.402.21 1,402.21
11/15/25 11/15/25 CARMX 2022-2 A3
DTD 04/28/2022 3.490% 02/16/2027
14317HAC5 0.00 65.35 65.35
11/15/25 11/15/25 AMXCA 2025-2 A
DTD 05/13/2025 4.280% 04/15/2030
025821KP4 0.00 3.727.17 3.727.17
11/15/25 11/15/25 FORDO 2023-C A3
DTD 11/21/2023 5.530% 09/15/2028
344940AD3 0.00 1.301.47 1,301.47
11/15/25 11/15/25 KCOT 2024-2A A2
DTD 06/25/2024 5.450% 04/15/2027
50117DAB2 0.00 685.41 685.41
11/15/25 11/15/25 WFCIT 2024-A2 A
DTD 10/24/2024 4.290% 10/15/2029
92970QAE5 0.00 2,341.63 2,341.63
11/15/25 11/15/25 FORDO 2024-B A2A
DTD 06/24/2024 5.400% 04/15/2027
34531OAB5 0.00 2,053.76 2,053.76
11/15/25 11/15/25 WOART 2025-A A2A
DTD 01/29/2025 4.490% 04/17/2028
98164YAB7 0.00 3.110.27 3.110.27
11/15/25 11/15/25 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 0.00 1.035.23 1,035.23
11/15/25 11/15/25 HDMOT 2023-B A3
DTD 09/27/2023 5.690% 08/15/2028
41285YAC9 0.00 3,236.79 3,236.79
11/15/25 11/15/25 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
025821KH2 0.00 3.116.21 3,116.21
11/15/25 11/15/25 US TREASURY N/B
DTD 11/15/2024 4.125% 11/15/2027
91282CLX7 0.00 102,093.75 102,093.75
11/15/25 11/15/25 ALLYA 2024-1 A3
DTD 03/13/2024 5.080% 12/15/2028
02008FAC8 0.00 1.368.02 1,368.02
11/15/25 11/15/25 TAOT 2025-A A2A
DTD 01/29/2025 4.480% 11/15/2027
8924O1AB7 0.00 4,677.46 4,677.46
11/15/25 11/15/25 KCOT 2025-2A A2
DTD 06/25/2025 4.480% 04/17/2028
50117LAB4 0.00 1,120.00 1,120.00
11/15/25 11/15/25 WFCIT 2024-Al A
DTD 03/01/2024 4.940% 02/15/2029
929700AA3 0.00 3,807.92 3.807.92
11/16/25 11/16/25 GMCAR 2024-4 A2A
DTD 10/16/2024 4.530% 10/18/2027
38014AAB7 0.00 1,144.53 1.144.53
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 54
24 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 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
11/16/25 11/16/25 GMCAR 2025-4 A2A
DTD 11/05/2025 3.880% 12/18/2028
36273EAB9 0.00 3,614.87 3,614.87
11/16/25 11/16/25 GMCAR 2025-1 A2A
DTD 01/15/2025 4.440% 01/18/2028
362955AB2 0.00 3.389.67 3,389.67
11/16/25 11/16/25 GMCAR 2024-3 A2A
DTD 07/10/2024 5.350% 06/16/2027
38O13KAB6 0.00 652.67 652.67
11/16/25 11/16/25 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
36268GAD7 0.00 418.67 418.67
11/16/25 11/16/25 GMCAR 2024-2 A2A
DTD 04/10/2024 5.330% 03/16/2027
379931AB4 0.00 36.57 36.57
11/16/25 11/16/25 GMCAR 2023-4 A3
DTD 10/11/2023 5.780% 08/16/2028
379930AD2 0.00 1,845.56 1,845.56
11/20/25 11/20/25 VALET 2024-1 A2A
DTD 11/26/2024 4.650% 11/22/2027
92868RAB4 0.00 3.271.85 3,271.85
11/20/25 11/20/25 VZMT 2025-3 A1A
DTD 03/31/2025 4.510% 03/20/2030
92348KDY6 0.00 5,675.08 5,675.08
11/20/25 11/20/25 TMUST 2025-2A A
DTD 08/06/2025 4.340% 04/22/2030
87268MAA3 0.00 1,862.58 1,862.58
11/20/25 11/20/25 PILOT 2025-1A A3
DTD 05/21/2025 4.610% 10/20/2028
73329KAD8 0.00 1,383.00 1,383.00
11/20/25 11/20/25 NATIONAL SECS CLEARING
DTD 05/20/2025 4.350% 05/20/2027
637639AN5 0.00 13,158.75 13,158.75
11/20/25 11/20/25 TOYOTA MOTOR CREDIT CORP
DTD 11/20/2023 5.400% 11/20/2026
89236TLD5 0.00 7.425.00 7,425.00
11/20/25 11/20/25 VALET 2023-2 A2A
DTD 11/21/2023 5.720% 03/22/2027
92867YAB0 0.00 78.95 78.95
11/20/25 11/20/25 BAAT 2025-1A A3
DTD 05/12/2025 4.350% 11/20/2029
05594BAD8 0.00 1,015.00 1,015.00
11/20/25 11/20/25 TRU1ST BANK (CALLABLE)
DTD 05/20/2025 4.671% 05/20/2027
89788JAE9 0.00 22.537.58 22,537.58
11/20/25 11/20/25 VALET 2025-1 A2A
DTD 03/25/2025 4.510% 01/20/2028
92868MAB5 0.00 5.936.26 5,936.26
11/21/25 11/21/25 HAROT 2024-3 A2
DTD 08/21/2024 4.890% 02/22/2027
43813YAB8 0.00 1,133.66 1,133.66
PFM Asset Management, a division of
U.S. Bancorp Asset Management. Inc.

Account 4025-002 Page 55
25 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type
CUSIP Par
Principal
Proceeds
Accrued
Interest Total
Realized G/L
Cost
Realized G/L
Amort Cost
Sale
Trade Settle Security Description Method

INTEREST
11/21/25 11/21/25 HAROT 2025-1 A2
DTD 02/11/2025 4.530% 08/23/2027
43814VAB3 0.00 8,757.98 8,757.98
11/21/25 11/21/25 GOLDMAN SACHS BANK USA
(CALLABLE)
DTD 05/21/2024 5.414% 05/21/2027
38151LAG5 0.00 9,609.85 9,609.85
11/21/25 11/21/25 HAROT 2025-3 A2A
DTD 08/12/2025 4.190% 03/21/2028
43813OAB5 0.00 5,569.21 5,569.21
11/21/25 11/21/25 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
438123AC5 0.00 752.44 752.44
11/22/25 11/22/25 PFAST 2024-1A A2A
DTD 12/13/2024 4.450% 01/24/2028
73328EAB7 0.00 585.66 585.66
11/22/25 11/22/25 PFAST 2025-1A A2A
DTD 10/24/2025 3.910% 03/22/2029
732911AB8 0.00 8,271.82 8.271.82
11/25/25 11/25/25 CHAOT 2024-4A A2
DTD 07/30/2024 5.250% 09/27/2027
16144YAB4 0.00 473.00 473.00
11/25/25 11/25/25 STATE STREET BANK & TR
DTD 11/25/2024 4.594% 11/25/2026
857449AC6 0.00 21.936.35 21.936.35
11/25/25 11/25/25 CHAOT 2024-3A A2
DTD 06/27/2024 5.530% 09/27/2027
16144LAB2 0.00 596.20 596.20
11/25/25 11/25/25 BMWLT 2025-1 A3
DTD 06/10/2025 4.430% 06/26/2028
096912AD2 0.00 1,827.38 1.827.38
11/25/25 11/25/25 BMWOT 2024-A A3
DTD 06/11/2024 5.180% 02/26/2029
096919AD7 0.00 3,086.42 3,086.42
11/25/25 11/25/25 CHAOT 2024-5A A2
DTD 09/24/2024 4.400% 11/26/2027
16144OAB1 0.00 370.94 370.94
11/25/25 11/25/25 CHAOT 2025-2A A2
DTD 10/29/2025 3.910% 12/26/2028
16144MAC8 0.00 5,690.14 5,690.14
11/25/25 11/25/25 CHAOT 2025-1A A3
DTD 07/30/2025 4.290% 06/25/2030
16145NAC5 0.00 2,717.00 2,717.00
11/25/25 11/25/25 BMWOT 2025-A A2A
DTD 02/12/2025 4.430% 10/25/2027
096924AB1 0.00 2,394.60 2,394.60
11/26/25 11/26/25 MORGAN STANLEY BANK NA
(CALLABLE)
DTD 05/30/2024 5.504% 05/26/2028
61690U8B9 0.00 9.356.80 9.356.80
PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 56
26 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 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
11/27/25 11/27/25 COMMONWEALTH BK AUSTR NY
DTD 11/27/2024 4.577% 11/27/2026
20271RAU4 0.00 20,024.38 20,024.38
11/29/25 11/29/25 CITIBANK NA (CALLABLE)
DTD 05/29/2025 4.576% 05/29/2027
17325FBN7 0.00 22,880.00 22,880.00
11/30/25 11/30/25 US TREASURY N/B
DTD 06/01/2021 1.250% 05/31/2028
91282CCE9 0.00 31,250.00 31,250.00
Transaction Type Sub-Total 0.00 1,018,642.32 1,018,642.32

MATURITY
11/07/25 11/07/25 CREDIT INDUST ET COMM NY
DTD 11/08/2024 4.550% 11/07/2025
22536WJJ6 2,000,000.00 2,000,000.00 0.00 2,000,000.00 0.00 0.00 Transaction Type Sub-Total 2,000,000.00 2,000,000.00 0.00 2,000,000.00 0.00 0.00

PAYDOWNS
11/01/25 11/25/25 FHMS K058 Al
DTD 11/01/2016 2.340% 07/01/2026
3137BSP64 14,069.76 14,069.76 0.00 14,069.76 721.08 182.34 11/01/25 11/25/25 FHMS K054 A2
DTD 04/01/2016 2.745% 01/01/2026
3137BNGT5 178,771.52 178,771.52 0.00 178,771.52 9,043.32 959.14 11/01/25 11/25/25 FNA 2018-M2 A2
DTD 02/01/2018 3.026% 01/01/2028
3136B0YM2 1,456.16 1,456.16 0.00 1,456.16 41.30 33.39
11/01/25 11/25/25 FHMS K739 A2
DTD 11/01/2020 1.336% 09/01/2027
3137F64P9 2,488.13 2,488.13 0.00 2,488.13 190.98 128.42 11/01/25 11/25/25 FHMS K059 A2
DTD 11/01/2016 3.120% 09/01/2026
3137BSRE5 1,373.67 1,373.67 0.00 1,373.67 72.60 24.40
11/01/25 11/25/25 FHMS K057 A2
DTD 09/01/2016 2.570% 07/01/2026
3137BROJ7 1,985.77 1,985.77 0.00 1,985.77 129.31 35.19
11/01/25 11/25/25 FHMS K065 Al
DTD 07/01/2017 2.864% 10/01/2026
3137F1G36 22,745.60 22,745.60 0.00 22,745.60 981.79 340.83 11/01/25 11/25/25 FHMS K736 A2
DTD 09/01/2019 2.282% 07/01/2026
3137FNWX4 1,056.93 1,056.93 0.00 1,056.93 76.26 20.05
11/01/25 11/25/25 FHMS KJ28 A2
DTD 02/01/2020 2.308% 10/01/2027
3137FREE7 83,662.39 83,662.39 0.00 83,662.39 3,081.76 2,280.94 PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 57
27 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal Accrued Realized G/L Realized G/L Sale DTD 01/29/2025 4.490% 04/17/2028
Trade Settle Security Description CUSIP Par Proceeds Interest Total Cost Amort Cost Method

PAYDOWNS
11/01/25 11/25/25 FHMS K069 A2
DTD 11/01/2017 3.187% 09/01/2027
3137FBU79 1,244.98 1,244.98 0.00 1,244.98 60.21 36.34
11/15/25 11/15/25 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 13,751.37 13,751.37 0.00 13,751.37 1.48 0.88
11/15/25 11/15/25 FORDO 2025-A A2A
DTD 03/25/2025 4.470% 12/15/2027
34535KAB4 172,292.06 172,292.06 0.00 172,292.06 10.20 7.86 11/15/25 11/15/25 BAAT 2024-1A A3
DTD 05/22/2024 5.350% 11/15/2028
09709AAC6 8,806.99 8,806.99 0.00 8,806.99 1.44 0.98
11/15/25 11/15/25 ALLYA 2024-1 A3
DTD 03/13/2024 5.080% 12/15/2028
02008FAC8 23,363.50 23,363.50 0.00 23,363.50 3.39 2.26
11/15/25 11/15/25 HAROT 2024-4 A2
DTD 10/24/2024 4.560% 03/15/2027
43816DAB1 136,328.52 136,328.52 0.00 136,328.52 9.29 5.28 11/15/25 11/15/25 COPAR 2024-1 A2A
DTD 11/26/2024 4.610% 10/15/2027
14043NAB5 30,925.19 30,925.19 0.00 30,925.19 1.30 0.85
11/15/25 11/15/25 USAOT 2024-A A2
DTD 07/30/2024 5.250% 03/15/2027
90327VAB4 90,088.41 90,088.41 0.00 90,088.41 5.83 3.01
11/15/25 11/15/25 NAROT 2024-B A2A
DTD 10/23/2024 4.510% 06/15/2027
65479WAB0 91,602.25 91,602.25 0.00 91,602.25 7.31 4.47
11/15/25 11/15/25 HART 2024-C A2A
DTD 10/16/2024 4.530% 09/15/2027
448976AB6 63,912.22 63,912.22 0.00 63,912.22 3.88 2.47
11/15/25 11/15/25 TAOT 2024-A A3
DTD 01/30/2024 4.830% 10/16/2028
89238DAD0 19,008.61 19,008.61 0.00 19,008.61 3.80 2.43
11/15/25 11/15/25 TAOT 2024-C A2A
DTD 07/30/2024 5.160% 05/17/2027
89237OAB6 23,177.41 23,177.41 0.00 23,177.41 0.22 0.10
11/15/25 11/15/25 TAOT 2024-D A2A
DTD 10/17/2024 4.550% 08/16/2027
89239TAB8 41,992.97 41,992.96 0.00 41,992.96 2.73 1.69
11/15/25 11/15/25 FORDO 2024-A A2A
DTD 03/19/2024 5.320% 01/15/2027
34535EAB8 24,400.97 24,400.97 0.00 24,400.97 0.86 0.36
11/15/25 11/15/25 WOART 2024-B A2A
DTD 05/22/2024 5.480% 09/15/2027
98164HAB4 27,003.93 27,003.93 0.00 27,003.93 2.72 1.55
11/15/25 11/15/25 KCOT 2024-1AA2
DTD 02/21/2024 5.390% 01/15/2027
50117BAB6 55,056.16 55,056.16 0.00 55,056.16 0.72 0.25
11/15/25 11/15/25 WOART 2025-A A2A 98164YAB7 98,472.03 98,472.03 0.00 98,472.03 2.74 2.03 PFM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 58
28 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 Silicon Valley Clean Energy - SVCE Investment Portfolio - 4025-002 - (12517950) Transaction Type Principal Accrued Realized G/L Realized G/L Sale Trade Settle Security Description CUSIP Par Proceeds Interest Total Cost Amort Cost Method

PAYDOWNS
DTD 06/25/2024 5.450% 04/15/2027
11/15/25 11/15/25 KCOT 2025-1A A2
DTD 02/19/2025 4.610% 12/15/2027
50117FAB7 30,589.38 30,589.38 0.00 30,589.38 3.83 2.85
11/15/25 11/15/25 MBART 2025-1 A2A
DTD 01/23/2025 4.500% 02/15/2028
58773DAB0 158,509.12 158,509.12 0.00 158,509.12 3.82 2.71 11/15/25 11/15/25 TAOT 2025-A A2A
DTD 01/29/2025 4.480% 11/15/2027
89240JAB7 145,243.28 145,243.28 0.00 145,243.28 6.74 4.72 11/15/25 11/15/25 FORDO 2023-C A3
DTD 11/21/2023 5.530% 09/15/2028
344940AD3 20,181.41 20,181.41 0.00 20,181.41 4.33 2.64
11/15/25 11/15/25 ALLYA 2023-1 A3
DTD 07/19/2023 5.460% 05/15/2028
02007WAC2 24,554.09 24,554.09 0.00 24,554.09 176.48 96.91 11/15/25 11/15/25 WOART 2024-C A2A
DTD 08/20/2024 4.780% 01/18/2028
98164NAB1 67,190.79 67,190.79 0.00 67,190.79 1.43 0.83
11/15/25 11/15/25 CARMX 2022-2 A3
DTD 04/28/2022 3.490% 02/16/2027
14317HAC5 22,470.69 22,470.69 0.00 22,470.69 583.71 211.11 11/15/25 11/15/25 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 50,668.87 50,668.87 0.00 50,668.87 0.92 0.48
11/15/25 11/15/25 FORDO 2024-D A2A
DTD 11/22/2024 4.590% 10/15/2027
34535VAB0 42,111.04 42,111.04 0.00 42,111.04 2.06 1.39
11/15/25 11/15/25 NAROT 2024-A A2A
DTD 05/22/2024 5.470% 12/15/2026
65479UAB4 48,732.20 48,732.20 0.00 48,732.20 0.50 0.20
11/15/25 11/15/25 TAOT 2024-B A2A
DTD 04/30/2024 5.410% 03/15/2027
89237NAB3 38,993.79 38,993.79 0.00 38,993.79 2.80 1.35
11/15/25 11/15/25 HDMOT 2023-B A3
DTD 09/27/2023 5.690% 08/15/2028
41285YAC9 51,555.38 51,555.38 0.00 51,555.38 11.65 65.30 11/15/25 11/15/25 FORDO 2024-B A2A
DTD 06/24/2024 5.400% 04/15/2027
34531OAB5 114,328.02 114,328.02 0.00 114,328.02 8.55 4.35 11/15/25 11/15/25 HART 2022-C A3
DTD 11/09/2022 5.390% 06/15/2027
44933DAD3 25,920.38 25,920.38 0.00 25,920.38 199.46 86.86 11/15/25 11/15/25 FORDO 2024-C A2A
DTD 09/20/2024 4.320% 08/15/2027
34532UAB5 46,926.76 46,926.76 0.00 46,926.76 1.88 1.11
11/15/25 11/15/25 HART 2024-B A2A
DTD 07/24/2024 5.150% 06/15/2027
44934OAB7 37,529.68 37,529.68 0.00 37,529.68 1.51 0.85
11/15/25 11/15/25 KCOT 2024-2A A2 50117DAB2 22,233.49 22,233.49 0.00 22,233.49 2.53 1.30 PPM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 59
29 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 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

PAYDOWNS
11/16/25 11/16/25 GMCAR 2024-3 A2A
DTD 07/10/2024 5.350% 06/16/2027
38013KAB6 51,309.57 51,309.57 0.00 51,309.57 0.13 0.00
11/16/25 11/16/25 GMCAR 2025-1 A2A
DTD 01/15/2025 4.440% 01/18/2028
362955AB2 116,375.40 116,375.40 0.00 116,375.40 11.09 7.94 11/16/25 11/16/25 GMCAR 2024-2 A2A
DTD 04/10/2024 5.330% 03/16/2027
379931AB4 8,232.59 8,232.57 0.00 8,232.57 0.53 0.24
11/16/25 11/16/25 GMCAR 2024-4 A2A
DTD 10/16/2024 4.530% 10/18/2027
38014AAB7 48,246.18 48,246.18 0.00 48,246.18 2.01 1.24
11/16/25 11/16/25 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
36268GAD7 6,280.20 6,280.20 0.00 6,280.20 1.26 0.82
11/16/25 11/16/25 GMCAR 2023-4 A3
DTD 10/11/2023 5.780% 08/16/2028
379930AD2 27,991.86 27,991.86 0.00 27,991.86 5.75 3.41
11/20/25 11/20/25 VALET 2023-2 A2A
DTD 11/21/2023 5.720% 03/22/2027
92867YAB0 16,562.04 16,562.02 0.00 16,562.02 0.94 0.38
11/20/25 11/20/25 VALET 2025-1 A2A
DTD 03/25/2025 4.510% 01/20/2028
92868MAB5 143,530.56 143,530.56 0.00 143,530.56 4.54 3.25 11/20/25 11/20/25 VALET 2024-1 A2A
DTD 11/26/2024 4.650% 11/22/2027
92868RAB4 88,457.89 88,457.89 0.00 88,457.89 1.42 0.85
11/21/25 11/21/25 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
438123AC5 11,186.52 11,186.52 0.00 11,186.52 1.97 1.15
11/21/25 11/21/25 HAROT 2025-1 A2
DTD 02/11/2025 4.530% 08/23/2027
43814VAB3 257,948.87 257,948.87 0.00 257,948.87 11.22 7.82 11/21/25 11/21/25 HAROT 2024-3 A2
DTD 08/21/2024 4.890% 02/22/2027
43813YAB8 67,652.94 67,652.94 0.00 67,652.94 5.30 2.71
11/22/25 11/22/25 PFAST 2024-1A A2A
DTD 12/13/2024 4.450% 01/24/2028
73328EAB7 55,477.14 55,477.14 0.00 55,477.14 4.73 3.33
11/25/25 11/25/25 BMWOT 2025-A A2A
DTD 02/12/2025 4.430% 10/25/2027
096924AB1 83,925.44 83,925.44 0.00 83,925.44 6.42 4.62
11/25/25 11/25/25 CHAOT 2024-3A A2
DTD 06/27/2024 5.530% 09/27/2027
16144LAB2 56,363.50 56,363.50 0.00 56,363.50 0.49 0.20
11/25/25 11/25/25 CHAOT 2024-4A A2
DTD 07/30/2024 5.250% 09/27/2027
16144YAB4 37,619.94 37,619.94 0.00 37,619.94 3.52 2.11
11/25/25 11/25/25 CHAOT 2024-5A A2
DTD 09/24/2024 4.400% 11/26/2027
16144OAB1 23,488.38 23,488.38 0.00 23,488.38 2.09 1.35
PPM Asset Management, a division of
U.S. Bancorp Asset Management. Inc.

Account 4025-002 Page 60
30 Item 1c November 2025 Treasurer Report
Managed Account Security Transactions & Interest For the Month Ending November 30, 2025 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
Transaction Type Sub-Total 3,277,424.89 3,277,424.84 0.00 3,277,424.84 15,532.13 4,603.89 I SELL
11/12/25 11/14/25 US TREASURY N/B
DTD 07/31/2024 4.375% 07/31/2026
91282CLB5 1,850,000.00 1,858,238.28 23,313.52 1,881,551.80 144.53 5,265.23 FIFO 11/19/25 11/20/25 US TREASURY N/B
DTD 10/15/2024 3.875% 10/15/2027
91282CLO2 2,725,000.00 2,739,795.90 10,443.34 2,750,239.24 24,588.87 21,201.49 FIFO 11/20/25 11/20/25 BRISTOL-MYERS SQUIBB CO
DTD 02/22/2024 4.950% 02/20/2026
110122ED6 230,000.00 230,496.80 2,846.25 233,343.05 616.40 512.34 FIFO 11/21/25 11/24/25 US TREASURY N/B
DTD 07/31/2024 4.375% 07/31/2026
91282CLB5 100,000.00 100,441.41 1,379.08 101,820.49 3.91 286.75 FIFO Transaction Type Sub-Total 4,905,000.00 4,928,972.39 37,982.19 4,966,954.58 25,353.71 27,265.81 Managed Account Sub-Total (13,027,734.17) 1,046,496.20 (11,981,237.97) 59,205.84 31,869.70 Total Security Transactions ($13,027,734.17) $1,046,496.20 ($11,981,237.97) $59,205.84 $31,869.70 PPM Asset Management, a division of
U.S. Bancorp Asset Management, Inc.

Account 4025-002 Page 61

Page 1 of 1 ends

Staff Report – Item 1d
Item 1d: Appoint SVCE Treasurer/Auditor and Board Secretary for 2026 From: Monica Padilla, CEO
Prepared by: Andrea Pizano, Sr. Executive Assistant and Board Clerk Date: 1/14/2026

RECOMMENDATION
Staff recommends the Silicon Valley Clean Energy (SVCE) Board of Directors (“Board”) appoint Amrit Singh, SVCE Chief Financial Officer (CFO) as the Board Treasurer/Auditor and Andrea Pizano, SVCE Sr. Executive Assistant and Board Clerk, as the Board Secretary for 2026.

BACKGROUND
Pursuant to Section 4.11.3 of the Joint Powers Agreement (Agreement), the Board shall appoint a qualified person to act as Treasurer and a qualified person to serve as Auditor. The Board may appoint a qualified person to serve as both Treasurer/Auditor. The Treasurer/Auditor acts as the depository of the Authority’s funds and has custody of all the money of the Authority. The Treasurer/Auditor reports directly to the Board the performance of their duties as Treasurer/Auditor and must comply with the requirements for treasurers of general law cities. Government Code Section 6505.5 and Section 6 of the Agreement further specifies the duties and obligations of the Treasurer/Auditor.

Pursuant to Section 4.11.2 of SVCE’s Agreement, the Board of Directors of the Authority shall appoint a Secretary. The Secretary is responsible for keeping the minutes of all Board meetings (ensuring the minute meetings are completed and retained) and keeping other official records of the Authority. The secretary is not required to be a member of the Board.

The Treasurer/Auditor and Secretary were last appointed in January 2025.

ANALYSIS & DISCUSSION
CFO Amrit Singh was first appointed to serve as the Treasurer/Auditor in December 2020; he has been reappointed annually since then. Prior to CFO Singh holding this position, the Director of Finance and Administration served as the Treasurer/Auditor since 2017. Staff is requesting the Board appoint CFO Singh to continue in this role for 2026.

SVCE Sr. Executive Assistant and Board Clerk Andrea Pizano has served as the Board Secretary since 2017.

Staff recommends that she continue serving in this capacity for 2026.

STRATEGIC PLAN
N/A

ALTERNATIVE
The Board can elect to appoint other individuals for Board Treasurer/Auditor and/or Board Secretary.

FISCAL IMPACT
No fiscal impact as a result of the appointments.

Item 1d
SILICON VALLEY \3/ CLEAN ENERGY

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Staff Report – Item 1e
Item 1e: Adopt Resolution Amending SVCE Conflict of Interest Code to Add Multiple Titles and Change the Titles of Power Settlements and Compliance Analyst to Power Settlements Analyst, and Regulatory and Compliance Manager to Compliance Manager as Designated Positions for Filing Statements of Economic Interests From: Monica Padilla, CEO
Prepared by: Nik Zanotto, Director of Operations
Michael Callahan, General Counsel
Andrea Pizano, Sr. Executive Assistant and Board Clerk
Date: 1/14/2026

RECOMMENDATION
Adopt Resolution 2026-02 amending the Silicon Valley Clean Energy (SVCE) Conflict of Interest Code (Code) to add the following titles: “Decarb Investments Lead”, “Decarbonization and Community Strategies Lead”, “Demand Flexibility Manager”, “Information Security Manager”, “Manager of Technical Decarb Strategy”, “Marketing Manager”, “Principal Regulatory Advisor”, and “Senior Finance and Data Analyst”, and change the titles of “Power Settlements and Compliance Analyst” to “Power Settlements Analyst” and “Regulatory and Compliance Manager” to “Compliance Manager”.

BACKGROUND
Shortly after the formation of SVCE, the Board of Directors adopted a Code as required by the Political Reform Act, commencing at Government Code Section 81000. The Code lists the positions within the Authority that are required to file statements of economic interests (Form 700). As a joint powers authority with members located entirely within Santa Clara County, the County Board of Supervisors is the conflict code reviewing body that is required to approve all changes to the conflict-of-interest code. County Counsel has advised that when positions are added or removed from the conflict code, a new resolution must be adopted approving a new conflict of interest code with the amended, added or removed position(s).

At the September 8, 2021 Board meeting, the Board of Directors adopted Resolution 2021-22 approving the creation of a personnel system to insure equitable and uniform policies and procedures for administering personnel matters in compliance with applicable laws; designating the Chief Executive Officer (CEO) as Personnel Officer; and delegating authority to the CEO to carry out all duties necessary to implement the personnel system.

The last Code amendment was approved at the October 2025 Board of Directors meeting to change the title of “Chief Financial Officer and Director of Administrative Services” to only reflect “Chief Financial Officer”, change the title of “Technology Services Manager” to “Manager of IT”, remove “Senior Manager of IT & Administrative Services” and “Manager of Technology & Administrative Services”, and add “Associate Financial Analyst” and “Director of Operations” positions.

ANALYSIS & DISCUSSION
In November 2025, SVCE had various promotions following the annual performance review cycle. Those promotions included the creation of the following positions:
• Decarbonization and Community Strategies Lead
• Information Security Manager
Item 1e
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 1e Agenda Date: 1/14/2026

Page 2 of 3 ends

• Marketing Manager
• Principal Regulatory Advisor
As a result of performing an annual review of SVCE’s Code, the following positions already exist and should also be included in the code:
• Decarb Investments Lead
• Demand Flexibility Manager
• Manager of Technical Decarb Strategy
• Senior Finance and Data Analyst
The above eight positions will need to be added to SVCE’s Code.

The title changes for “Power Settlements and Compliance Analyst” to “Power Settlements Analyst” and “Regulatory and Compliance Manager” to “Compliance Manager” were done to better align with roles in the Power Resources department.

In summary, SVCE staff feel the following positions should be added or have title changes:

The following positions are proposed to be added to the Conflict of Interest Code:

Designated Position Assigned Disclosure Category
Decarb Investments Lead 2
Decarbonization and Community Strategies Lead 2
Demand Flexibility Manager 2
Information Security Manager 2
Manager of Technical Decarb Strategy 2
Marketing Manager 2
Principal Regulatory Advisor 2
Senior Finance and Data Analyst 2
The following position titles are proposed to be changed in the Conflict of Interest Code:

Existing Designated Position Proposed New Position
Regulatory and Compliance Manager Compliance Manager
Power Settlements and Compliance Analyst Power Settlements Analyst In accordance with the requirements of the Political Reform Act and the County of Santa Clara, a new conflict of interest code must be adopted by resolution which includes the newly created or identified positions as well as any changes to the existing Conflict of Interest Code. The attached resolution amends Appendix A to SVCE’s Code to reflect the addition of “Decarb Investments Lead”, “Decarbonization and Community Strategies Lead”, “Demand Flexibility Manager”, “Information Security Manager”, “Manager of Technical Decarb Strategy”, “Marketing Manager”, “Principal Regulatory Advisor”, and “Senior Finance and Data Analyst” and title changes for “Power Settlements and Compliance Analyst” to “Power Settlements Analyst”, and “Regulatory and Compliance Manager” to “Compliance Manager”.

STRATEGIC PLAN
Not applicable.

ALTERNATIVES
None.

FISCAL IMPACT
There is no fiscal impact as a result of adding positions to SVCE’s Conflict of Interest Code.

Item 1e
Agenda Item: 1e Agenda Date: 1/14/2026

Page 3 of 3 ends

ATTACHMENT

1. Resolution 2026-02 Amending SVCE Conflict of Interest Code to Add Multiple Titles and Change the Titles of Power Settlements and Compliance Analyst to Power Settlements Analyst, and Regulatory and Compliance Manager to Compliance Manager as Designated Positions for Filing Statements of Economic Interests
Item 1e
Resolution 2026-02 -1-
RESOLUTION NO. 2026-02

A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SILICON VALLEY CLEAN ENERGY AUTHORITY AMENDING THE AUTHORITY’S CONFLICT OF INTEREST

CODE TO ADD MULTIPLE TITLES AND CHANGE THE TITLES OF POWER

SETTLEMENTS AND COMPLIANCE ANALYST TO POWER SETTLEMENTS

ANALYST, AND REGULATORY AND COMPLIANCE MANAGER TO COMPLIANCE

MANAGER AS DESIGNATED POSITIONS FOR FILING STATEMENTS OF

ECONOMIC INTERESTS
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 Political Reform Act, Government Code Section 81000, et seq., (the “Political Reform Act”) requires each public agency in California, including the Authority, to adopt and promulgate a conflict of interest code; and WHEREAS, Government Code Section 87306 requires each public agency in California to amend its conflict of interest code when change is necessitated by a change in circumstances, including the creation of new positions and relevant changes to the duties assigned to existing positions; and
WHEREAS, the Board of Directors of the Authority has adopted a conflict of interest code, and has amended this code as appropriate due to changed circumstances, with the most recent code adopted by Resolution 2025-21; and WHEREAS, the Board of Directors, after consultation with the County of Santa Clara as its code reviewing body, desires to amend the list of designated positions in Appendix A by adding Decarb Investments Lead, Decarbonization and Community Strategies Lead, Demand Flexibility Manager, Information Security Manager, Manager of Technical Decarb Strategy, Marketing Manager, Principal Regulatory Advisor, and Senior Finance and Data Analyst, and retitling Power Settlements and Compliance Analyst to Power Settlements Analyst, and Regulatory and Compliance Manager to Compliance Manager.

NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of the Authority rescinds Resolution No. 2025-21 and adopts the following attached Conflict of Interest Code including its Appendices of Designated Positions and Disclosure Categories.

BE IT FURTHER RESOLVED that The Board of Directors of the Authority hereby directs the Secretary of the Board to coordinate the preparation of a revised Conflict of Interest Code in succeeding even-numbered years following notice and instructions from the County of Santa Clara as the code-reviewing body for the Authority, in accordance with the requirements of Government Code Sections 87306 and 87306.5. Future revisions to the Conflict of Interest Code should reflect changes in employee or official Item 1e
Attachment 1
Resolution 2026-02 -2-
designations. If no revisions to the Code are required, the Authority shall submit a response as indicated in the instructions provided by the County of Santa Clara no later than October 1st of the same year, stating that amendments to the Authority’s Conflict of Interest Code are not required.

ADOPTED AND APPROVED this 14th day of January 2026, by the following vote:

Clerk
Item 1e
Attachment 1
Resolution 2026-02 -3-

SILICON VALLEY CLEAN ENERGY AUTHORITY

CONFLICT OF INTEREST CODE
The Political Reform Act (Government Code § 81000, et seq., hereinafter referred to as the Act) requires state and local government agencies to adopt and promulgate conflict of interest codes. The Fair Political Practices Commission (“FPPC”) has adopted a regulation (2 California Code of Regulations § 18730) which contains the terms of a standard conflict of interest code, which can be incorporated by reference in an agency’s code. After public notice and hearing, the standard code may be amended by the FPPC to conform to amendments in the Act. Therefore, the terms of 2 California Code of Regulations § 18730 and any amendments to it duly adopted by the FPPC are hereby incorporated by reference.

This regulation and the text here designating positions and establishing disclosure categories shall constitute the conflict of interest code of the Silicon Valley Clean Energy Authority (“Authority”).

The most current version of 2 Cal. Code of Regs. Section 18730 is available on the website of the Fair Political Practices Commission (https://www.fppc.ca.gov).

Individuals holding a designated position shall file their Statements of Economic Interests with the Authority’s Filing Official, which will make the Statements available for public inspection and reproduction subject to Government Code section 81008. If Statements are received in signed paper format, the Authority’s Filing Official shall make and retain a copy and forward the original Statements to the Filing Officer, the County of Santa Clara Clerk of the Board of Supervisors. If Statements are electronically filed using the County of Santa Clara’s Form 700 e-filing system, both the Authority’s Filing Official and the County of Santa Clara Clerk of the Board of Supervisors will receive access to the e-filed Statements simultaneously.

Item 1e
Attachment 1
Resolution 2026-02 -4-

SILICON VALLEY CLEAN ENERGY AUTHORITY

CONFLICT OF INTEREST CODE
APPENDIX "A"

DESIGNATED POSITIONS
Designated Position Assigned Disclosure Category
Member of Board of Directors 1
Alternate Member of Board of Directors 1
Audit Committee Member 2
Chief Executive Officer 1
Chief Financial Officer 1
Finance and Administration Committee Member 2
General Counsel 1
Administrative Services Manager 2
Associate Financial Analyst 2
Associate Legislative Analyst 2
Associate Manager of Decarbonization Programs 2
Associate Power Analyst 1
Associate Power Resources Planner 1
Communications Manager 2
Regulatory and Compliance Manager 2
Decarb Investments Lead 2
Decarbonization and Community Strategies Lead 2
Demand Flexibility Manager 2
Deputy Director of Administrative Services 2
Item 1e
Attachment 1
Resolution 2026-02 -5-
Deputy Director of Marketing and Communications 2
Deputy Director of Power Resources 1
Director of Customer Success 2
Director of Decarbonization Policy and Community Strategies 2 Director of Energy Services & Community Relations 2
Director of Government and Legislative Affairs 2
Director of Human Resources 2
Director of Operations 2
Director of Power Resources 1
Director of Regulatory & Legislative Policy 2
Director of Regulatory, Policy and Planning 2
Director of Risk Management and Analytics 1
Director of Strategic Development 2
Energy Services Manager 2
Energy Trading Planner 1
Financial Analyst 2
Human Resources Generalist 2
Information Security Manager 2
Management Analyst 2
Manager of Data and Analytics 2
Manager of Decarbonization Programs 2
Manager of IT 2
Manager of Finance 2
Manager of Technical Decarb Strategy 2
Marketing Manager 2
Policy Analyst 2
Item 1e
Attachment 1
Resolution 2026-02 -6-
Power Analyst 1
Power Data Analyst 1
Power Resources Manager 1
Power Resources Planner 1
Power Contracts & Settlements Manager 1
Power Settlements & Compliance Analyst 1
Power Settlements Planner 1
Principal Policy Analyst 2
Principal Power Analyst 1
Principal Regulatory Advisor 2
Programs Marketing Manager 2
Rates Manager 2
Regulatory Analyst 2
Regulatory and Compliance Manager 2
Risk Controls Project Manager 2
Senior Data Analyst 2
Senior Data Engineer 2
Senior Finance and Data Analyst 2
Senior Financial Analyst 2
Senior Government Affairs Manager 2
Senior Management Analyst 2
Senior Manager of Communications 2
Senior Manager of Energy Policy and Regulatory Analysis 2 Senior Manager of Decarbonization Programs 2
Senior Manager of Power Resources 1
Senior Manager of Public Sector Services 2
Item 1e
Attachment 1
Resolution 2026-02 -7-
Senior Policy Analyst 2
Senior Power Analyst 1
Senior Power Resources Planner 1
Senior Quantitative Analyst 2
Senior Rates Analyst 2
Senior Regulatory Analyst 2
Senior Regulatory Analyst & Associate General Counsel 1 Senior Risk Manager 2
Wholesale Energy Markets Manager 1
Wholesale Energy Markets Planner 1
Consultant 3
Newly Created Position *
* Newly Created Position
A newly created position that makes or participates in the making of governmental decisions that may foreseeably have a material effect on any financial interest of the position-holder, and which specific position title is not yet listed in the Authority’s conflict of interest code is included in the list of designated positions and shall disclose pursuant to the broadest disclosure category in the code, subject to the following limitation: The Chief Executive Officer of the Authority may determine in writing that a particular newly created position, although a “designated position,” is hired to perform a range of duties that are limited in scope and thus is not required to fully comply with the broadest disclosure requirements, but instead must comply with more tailored disclosure requirements specific to that newly created position. Such written determination shall include a description of the newly created position's duties and, based upon that description, a statement of the extent of disclosure requirements. The Chief Executive Officer’s determination is a public record and shall be retained for public inspection in the same manner and location as this conflict-of-interest code. (Gov. Code Section 81008.) As soon as the Authority has a newly created position that must file Statements of Economic Interests, the Authority’s Filing Official shall contact the County of Santa Clara Clerk of the Board of Supervisors Form 700 division to notify it of the new position title to be added in the County’s electronic Form 700 record management system, known as eDisclosure. Upon this notification, the Clerk’s office shall enter the actual position title of the newly created position into eDisclosure and the Authority’s Filing Official shall ensure that the name of any individual(s) holding the newly created position is entered under that position title in eDisclosure.

Item 1e
Attachment 1
Resolution 2026-02 -8-
Additionally, within 90 days of the creation of a newly created position that must file Statements of Economic Interests, the Authority shall update this conflict-of-interest code to add the actual position title in its list of designated positions and submit the amended conflict of interest code to the County of Santa Clara Office of the County Counsel for code-reviewing body approval by the County Board of Supervisors. (Gov. Code Section 87306.)
Item 1e
Attachment 1
Resolution 2026-02 -9-

SILICON VALLEY CLEAN ENERGY AUTHORITY

CONFLICT OF INTEREST CODE
APPENDIX "B"

DISCLOSURE CATEGORIES
Designated positions must report financial interests in accordance with the assigned disclosure categories.

Category 1: Persons in this category shall disclose:
(a) investments and business positions in business entities, and income (including gifts, loans, and travel payments) from sources that contract with the Authority, or that provide, plan to provide, or have provided during the previous two years, facilities, goods, technology, equipment, vehicles, machinery, or services, including training or consulting services, of the type utilized by the Authority; and (b) all interests in real property located: in whole or in part within the jurisdiction of the Silicon Valley Clean Energy Authority, or within two miles of the borders of any of the parties to the Joint Powers Agreement for the Authority, or within two miles of any land owned or used by the Authority.

Category 2: Persons in this category shall disclose investments and business positions in business entities, and income (including gifts, loans, and travel payments) from sources that contract with the Authority, or that provide, plan to provide, or have provided during the previous two years, facilities, goods, technology, equipment, vehicles, machinery, or services, including training or consulting services, of the type utilized by the Authority.

Category 3: Each Consultant, as defined for purposes of the Political Reform Act and applicable regulations1, shall disclose pursuant to the broadest disclosure category in the Authority’s conflict of interest code subject to the following limitation: The Chief Executive Officer of the Authority may determine in writing that a particular consultant, although a "designated position," is hired to perform a range of duties that are limited in scope and thus is not required to comply fully with the disclosure requirements of the broadest disclosure category, but instead must comply with more tailored disclosure requirements specific to that consultant. Such a written determination shall include a description of the consultant's duties and, based upon that description, a statement of the extent of 1 As defined in FPPC Regulation 18700.3, “consultant” means an individual who (1) makes governmental decisions, such as whether to approve a rate, rule, or regulation; to issue, deny, suspend, or revoke any permit, license, application, certificate or similar authorization; to adopt or approve a plan, design, report, study; or to adopt or approve policies, standards, or guidelines for the Authority; (2) serves in a staff capacity with the Authority, and in that capacity participates in making governmental decisions by providing information, an opinion, or a recommendation for the purpose of affecting the decision without significant intervening substantive review; or (3) performs the same or substantially all the same duties for the Authority that would otherwise be performed by an individual holding a designated position in this Code.

Item 1e
Attachment 1
Resolution 2026-02 -10-
disclosure requirements. The Chief Executive Officer’s written determination is a public record and shall be retained for public inspection in the same manner and location as this Conflict of Interest Code.

Item 1e
Attachment 1

Page 1 of 3 ends

Staff Report – Item 1f
Item 1f: Authorize the Chief Executive Officer to Finalize and Execute Agreement with Beals Martin and Associates, Inc. to Support the Development and Construction of SVCE’s New Headquarters in the Amount of $6,554,435
From: Monica Padilla, CEO
Prepared by: Zoe Elizabeth, Director of Decarbonization Policy & Community Strategy Date: 1/14/2026

RECOMMENDATION
Staff recommends that the Silicon Valley Clean Energy (SVCE) Board of Directors (“Board”) approve and authorize the Chief Executive Officer (CEO) to finalize and execute a contract with Beals Martin and Associates, Inc. in the amount of $6,554,435 and to grant the CEO the ability to amend this contract up to 10% for a maximum of $7,209,879 should essential cost changes arise to support the development and construction of SVCE’s new headquarters at 298 S. Sunnyvale Avenue. The contract will support the development and construction of SVCE’s new headquarters at 298 S. Sunnyvale Avenue and is attached in substantially final form.

BACKGROUND
In February 2025, SVCE purchased a 28,000-square-foot, two-story building that will serve as the agency’s new headquarters. The building was renovated in 2019 but is a shell and SVCE needs to complete the interior build-out prior to occupying the building. SVCE conducted two in-person feedback sessions with staff, the Board, and members of the public to ensure their values, priorities, and needs are considered during the building’s design process. The first feedback session entailed an in-person exercise with all staff to discuss the office space. The takeaways from that session included incorporating modular office features for a changing workforce and designing an effective space for individual and collaborative productivity. The second feedback session was with the Board of Directors and members of the public to solicit input on priorities and values for the Board Chamber and community space while maintaining a focus on financial feasibility. The takeaways from that session included creating an inviting and welcoming Board Chamber for the Board and the public.

Staff have been working diligently to prioritize the office space and Board Chamber with the goal of relocating operations by summer 2026. The building is phased into two parts: Phase 1) the office space and Board Chamber, and Phase 2) the community space. Staff will request additional time to assess the needs of the community space at the January Executive Committee Meeting.

In November 2025, SVCE selected and contracted with a vendor to provide elevator modernization and maintenance services. Work is currently underway to replace outdated equipment, make necessary modifications to meet current building codes and standards, and service the elevator for a period of three years.

Item 1f
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 1f Agenda Date: 1/14/2026

Page 2 of 3 ends

Related to Phase 1, staff and the project management team from Cumming Group released a Request for Pre-Qualification of Bidding Commencing with Forthcoming Public Work Bid on September 18, 2025 (RFQ HERE).

The purpose of the pre-qualification process is to ensure only contractors with appropriate experience, financial capacity, safety record, and technical capability are invited to bid for the project itself. Staff received nine proposals on October 16, 2025, and identified four bidders who met the qualification criteria. On November 24, 2025, SVCE and Cumming Group then released the Notice Inviting Bids for SVCE Headquarters, which the prequalified contractors could apply for. Staff received four proposals on December 19, 2025 and after thorough review determined Beals Martin and Associates, Inc. to be the lowest responsible bidder with a responsive bid. SVCE staff shared this decision with all bidders and received one protest related to listing subcontractors. SVCE legal counsel reviewed the protest in detail and determined the claims were not valid and that Beals Martin and Associates, Inc. was the lowest responsible bidder with a responsive bid. Thus, in accordance with Public Contracting code, staff is requesting board approval to execute a contract with Beals Martin and Associates, Inc.

ANALYSIS & DISCUSSION
As part of the public works project process, staff and Cumming Group conducted the pre-qualification selection process from September 18, 2025, through October 16, 2025, and received responses from nine bidders. The key evaluation criteria included:
• Provide information on the type, size, and other information about the organization • Provide additional information on the organization and structure • Answer essential criteria questions
• Answer prequalifying criteria questions
• Provide six project references
Staff and Cumming Group reviewed the completeness of all proposals and scored them. Four firms were shortlisted as qualifying contractors. All four qualified bidders have demonstrated sufficient relevant experience, the capability to successfully execute the project on time and within budget, and an acceptable safety, legal and financial accounting history.

In November 2025, staff and Cumming Group released the Notice Inviting Bids for SVCE Headquarters. As a Public Agency, SVCE must comply with California Public Contracting Requirements and select the lowest bidder whose proposal meets all the stipulated and mandated criteria.

The scope of work involves the interior buildout of the two-story building, which includes construction of open/private office space, open/private lounge areas, meeting rooms, storage space, IT & security storage room, kitchen, a Board Chamber, and restrooms. The work may include minimal environmental remediation, minor roofing, analysis and completion of heat, ventilation, and air conditioning systems, including upgrade as needed, and lighting replacement with controls. The building will serve many functions and require modular, adaptable features for various users. The space will have three functions:

1. working space for staff in a hybrid environment,

2. community space (will be constructed at a later time), and

3. SVCE Board of Directors Chamber
SVCE has contracted with SERA Architects to provide architectural and engineering design for this project.

Staff and SERA have developed a cost-conscious design by incorporating a minimal number of offices and conference rooms, minimizing the movement of plumbing, maintaining existing bathrooms, reusing existing SVCE furniture and carpet wherever possible, and installing basic finishes.

Additionally, the design includes several sustainable initiatives, including upgrades to the insulation within the building envelope, a highly energy-efficient and adaptable heating, ventilation, and air conditioning system that can adjust depending on the building occupancy and locally sourced materials when possible.

Item 1f
Agenda Item: 1f Agenda Date: 1/14/2026

Page 3 of 3 ends

Cumming Group is SVCE’s representative and will provide construction project management services.

STRATEGIC PLAN
Expanding the office falls under Strategic Focus Area #5, Attract & Retain Employees.

ALTERNATIVE
The Board may elect not to execute a contract with the lowest responsible, qualified bidder. SVCE then has the option to either cancel the project in its entirety or re-start the contractor selection process. Staff does not recommend re-starting the contractor selection process as this will delay project completion by at least four months, resulting in additional costs to SVCE and inability to move into the new headquarters as planned in mid-2026.

FISCAL IMPACT
The Board of Directors approved $20 million to support the purchase and development of SVCE’s new headquarters in the March 2024 Board of Directors meeting (SVCE Board of Directors meeting, March 13, 2025, Item 4). The Board subsequently approved an additional $5.5 million for the budget in the December 2025 Board of Directors meeting (SVCE Board of Directors meeting, December 10, 2025, Item 5). This contract is a part of the existing approved budget, and the newly adopted increased budget inclusive of the 10 percent contingency requested for a total not to exceed of $7,209,879.

ATTACHMENTS

1. Agreement with Beals Martin and Associates Inc.

Item 1f
B-1

CHECKLIST FOR EXECUTION OF CONTRACT
TO BE SUBMITTED BY SUCCESSFUL BIDDER:
____ Two (2) executed copies of the Contract
____ Evidence satisfactory to SVCE indicating the capacity of the person(s) signing the Contract to bind the Contractor
_____ Payment Bond in amount of the Contract
____ Performance Bond in amount of the Contract
____ Workers’ Compensation Certificate
____ Liability insurance certificate in the amounts specified in Section 5-4.2 of the General Provisions, naming SVCE, et al as additional insureds ____ Automobile insurance certificate in the amount specified in Section 5-4.4 of the General Provisions, naming SVCE, et al as additional insureds ____ Copy of city business license
____ Additional insured endorsement – comprehensive general liability ____ Additional insured endorsement – automobile liability ____ Additional insured endorsement – excess liability
Item 1f
Attachment 1
C-1

CONTRACT

SVCE CONTRACT FOR
________________________________________________________________ THIS CONTRACT (“Contract”) is made and entered this January 7th 2026 (“Effective Date”), by and between SVCE, a California municipal corporation (“ SVCE”) and Beals Martin & Associates, Inc., a California corporation (“Contractor”). Contractor’s California State Contractor’s license number is 396189; Class A,B). Contractor’s DIR registration number is 100000570.

In consideration of the mutual covenants hereinafter set forth, the parties hereto agree as follows:

1. Contract Documents. The Contract Documents consist of this Contract, the Notice Inviting Bids, Instructions to Bidders, Bid (including documentation accompanying the Bid and any post-Bid documentation submitted before the Notice of Award), the Bonds, permits from regulatory agencies with jurisdiction, General Provisions, Special Provisions, Plans, Standard Plans, Standard Specifications, Reference Specifications, Addenda, Change Orders, and Supplemental Agreements. The Contract Documents are attached hereto and incorporated herein by reference.

2. Scope of Services. Contractor shall perform the Work in a good and workmanlike manner for the project identified as SVCE (“Project”), as described in this Contract and in the Contract Documents.

3. Compensation. In consideration of the services rendered hereunder, SVCE shall pay Contractor a not to exceed amount of six million five hundred fifty-four thousand four hundred thirty-five dollars ($6,554,435.00) in accordance with the prices as submitted in the Bid.

4. Incorporation by Reference. All of the following documents are attached hereto and incorporated herein by this reference: Workers’ Compensation Certificate of Insurance, Additional Insured Endorsement (Comprehensive General Liability), Additional Insured Endorsement (Automobile Liability), and Additional Insured Endorsement (Excess Liability).

5. Antitrust Claims. In entering into this Contract, Contractor offers and agrees to assign to SVCE all rights, title, and interest in and to all causes of action it may have under Section 4 of the Clayton Act (15 U.S.C. Sec. § 15) or under the Cartwright Act (Business and Professions Code Section 16700 et seq.) arising from purchases of goods, services, or materials pursuant to the Contract. This assignment shall be made and become effective at the time SVCE tenders final payment to Contractor without further acknowledgment by the parties.

6. Prevailing Wages. SVCE and Contractor acknowledge that the Project is a public work to which prevailing wages apply.

7. Workers’ Compensation. Labor Code Sections 1860 and 3700 provide that every contractor will be required to secure the payment of compensation to its employees. In accordance with the provisions of Labor Code Section 1861, by signing this Contract, the Contractor certifies as follows:
“I am aware of the provisions of Section 3700 of the Labor Code which require every employer to be insured against liability for workers’ Item 1f
Attachment 1
C-2
compensation or to undertake self-insurance in accordance with the provisions of that Code, and I will comply with such provisions before commencing the performance of the Work of this Contract.”

8. Titles. The titles used in this Contract are for convenience only and shall in no way define, limit or describe the scope or intent of this Contract or any part of it.

9. Authority. Any person executing this Contract on behalf of Contractor warrants and represents that he or she has the authority to execute this Contract on behalf of Contractor and has the authority to bind Contractor to the performance of its obligations hereunder.

10. Entire Agreement. This Contract, including the Contract Documents and any other documents incorporated herein by specific reference, represents the entire and integrated agreement between SVCE and Contractor. This Contract supersedes all prior oral or written negotiations, representations or agreements. This Contract may not be modified or amended, nor any provision or breach waived, except in a writing signed by both parties that expressly refers to this Contract.

11. Counterparts. This Contract may be executed in counterpart originals, duplicate originals, or both, each of which is deemed to be an original for all purposes.

IN WITNESS WHEREOF, the parties hereto have executed this Contract the day and year first above written.

SVCE
By:
(“CONTRACTOR”)
By:

By:

Item 1f
Attachment 1
LMB-1
Bond No. __________

PAYMENT BOND
(LABOR AND MATERIALS)
KNOW ALL PERSONS BY THESE PRESENTS that:

WHEREAS SVCE (“ SVCE”), State of California, has awarded to Beals Martin & Associates, Inc. (“Principal”)
(Name and address of Contractor)
a contract (the “Contract”) for the Work described as follows:
(Project name)
WHEREAS, under the terms of the Contract, the Principal is required before entering upon the performance of the Work, to file a good and sufficient payment Bond with SVCE to secure the claims to which reference is made in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code.

NOW, THEREFORE, we, the undersigned Principal, and
(Name and address of Surety)
(“Surety”) a duly admitted surety insurer under the laws of the State of California, as Surety, are held and firmly bound unto SVCE and all contractors, subcontractors, laborers, material suppliers, and other persons employed in the performance of the Contract and referred to in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code in the penal sum of Dollars ($ ), for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this Work or labor, that the Surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this Bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorneys’ fees, incurred by SVCE in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered.

It is hereby expressly stipulated and agreed that this Bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this Bond.

Upon expiration of the time within which the California Labor Commissioner may serve a civil wage and penalty assessment against the principal, any of its subcontractors, or both the principal and its subcontractors pursuant to Labor Code Section 1741, and upon expiration of the time within which a joint labor management committee may commence an action against the principal, any of its subcontractors, or both the principal and its subcontractors pursuant to Labor Code Item 1f
Attachment 1
LMB-2
Section 1771.2, if the condition of this Bond be fully performed, then this obligation shall become null and void; otherwise, it shall be and remain in full force and effect.

The Surety hereby stipulates and agrees that no change, extension of time, alteration, or addition to the terms of the Contract or the Specifications accompanying the same shall in any manner affect its obligations on this Bond, and it does hereby waive notice of any such change, extension, alteration, or addition.

IN WITNESS WHEREOF, two (2) identical counterparts of this instrument, each of which shall for all purposes be deemed an original hereof, have been duly executed by Principal and Surety, on the date set forth below, the name of each corporate party being hereto affixed and these presents duly signed by its undersigned representative(s) pursuant to authority of its governing body.

Dated:
“Principal”
By:

Its
By:

Its
(Seal)
“Surety”
By:

Its
By:

Its
(Seal)
Note: This Bond must be executed in duplicate and dated, all signatures must be notarized, and evidence of the authority of any person signing as attorney-in-fact must be attached. DATE OF BOND MUST NOT BE BEFORE DATE OF CONTRACT. Surety companies executing Bonds must appear on the Treasury Department’s most current list (Circular 570 as amended) and be authorized to transact business in the State where the project is located.

Item 1f
Attachment 1
PB-1
Bond No. __________

PERFORMANCE BOND
KNOW ALL PERSONS BY THESE PRESENTS that:

WHEREAS SVCE (“ SVCE”), has awarded to
(“Principal”)
(Name and address of Contractor)
a contract (the “Contract”) for the Work described as follows:
(Project name)
WHEREAS, Principal is required under the terms of the Contract to furnish a Bond for the faithful performance of the Contract.

NOW, THEREFORE, we, the undersigned Principal, and
,
(Name and address of Surety)
(“Surety”) a duly admitted surety insurer under the laws of the State of California, as Surety, are held and firmly bound unto SVCE in the penal sum of
Dollars ($ ), this amount being not less than the
total Contract Price, in lawful money of the United States of America, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors executors and administrators, jointly and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION IS SUCH THAT, if the hereby bounded Principal, his, her or its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and provisions in the Contract and any alteration thereof made as therein provided, on the Principal’s part, to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless SVCE, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise, it shall be and remain in full force and effect.

As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorneys’ fees, incurred by SVCE in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. Surety hereby waives any statute of limitations as it applies to an action on this Bond.

The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Contract or of the Work to be performed thereunder or the specifications accompanying the same shall in anywise affect its obligations under this Bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the Contract or to the Work or to the specifications. Surety hereby waives the provisions of California Item 1f
Attachment 1
PB-2
Civil Code Sections 2845 and 2849. SVCE is the principal beneficiary of this Bond and has all rights of a party hereto.

Dated:
“Principal”
By:

Its
By:

Its
(Seal)
“Surety”
By:

Its
By:

Item 1f
Attachment 1
INS-1
WORKERS’ COMPENSATION

CERTIFICATE OF INSURANCE
WHEREAS, SVCE (“ SVCE”) has required certain insurance to be provided by:

NOW THEREFORE, the undersigned insurance company does hereby certify that it has issued the policy or policies described below to the following named insureds and that the same are in force at this time:

1. This certificate is issued to:

SVCE
_______________________________
______________, California ________
The insureds under such policy or policies are:

2. Workers’ Compensation Policy or Policies in a form approved by the Insurance Commissioner of California covering all operations of the named insureds as follows:

Policy Number Effective Date Expiration Date
By:

Its Authorized Representative
Item 1f
Attachment 1
GP-1

GENERAL PROVISIONS
SECTION 0. GENERAL PROVISIONS DEFINED
0-1 STANDARD SPECIFICATIONS
The 2021 edition of “Standard Specifications for Public Works Construction” (“Standard Specifications”), as amended by the Contract Documents, is incorporated into the Contract Documents by this reference. The Work described herein shall be done in accordance with the provisions of the Standard Specifications, as amended by the Contract Documents. 0-2 NUMBERING OF SECTIONS
The number of sections and subsections in these General Provisions are compatible with the numbering in the Standard Specifications.
0-3 SUPPLEMENTATION OF STANDARD SPECIFICATIONS
The Sections that follow supplement, but do not replace, the corresponding provisions in Part 1 (General Provisions) of the Standard Specifications, except as otherwise indicated herein. In the event of any conflict between the Standard Specifications and these General Provisions, these General Provisions shall control.

SECTION 1. GENERAL, TERMS, DEFINITIONS, ABBREVIATIONS, UNITS OF MEASURE,

AND SYMBOLS
1-2 TERMS AND DEFINITIONS
Whenever in the Standard Specifications or in the Contract Documents the following terms are used, they shall be understood to mean the following:

Agency – SVCE.

Board – SVCE Board.

Contract Documents – As defined in Standard Specifications Section 1-2, but also including these General Provisions.

Engineer – SVCE Engineer, acting either directly or through properly authorized agents. Such agents shall act within the scope of the particular duties entrusted to them.

Inspector – An authorized representative of SVCE, assigned by SVCE to make inspections of Work performed by or materials supplied by the Contractor.

Laboratory – A laboratory authorized by SVCE to test materials and Work involved in the Contract.

Notice of Completion – The notice authorized by Civil Code Section 9204.

Project – See Work.

Item 1f
Attachment 1
GP-2
Submittal – Any drawing, calculation, specification, product data, samples, manuals, requests for substitutes, spare parts, photographs, survey data, traffic control plans, record drawings, Bonds or similar items required to be submitted to SVCE under the terms of the Contract.
1-3.3 Institutions
The institutions listed in Section 1-3.3 of Part 1 of the Standard Specifications shall be supplemented by the list below:

Abbreviation Word or Words
AAN ...................................................................................American Association of Nurserymen AGCA .......................................................................Associated General Contractors of America APWA................................................................................... American Public Works Association CRSI ..................................................................................... Concrete Reinforcing Steel Institute CSI........................................................................................Construction Specifications Institute NEC...........................................................................................................National Electric Code NFPA....................................................................................National Fire Protection Association SSS ...........................................................................State of California Standard Specifications, Latest edition, Department of Transportation
SSP ....................................................................................... State of California Standard Plans, Latest edition, Department of Transportation
1-7.2 CONTRACT BONDS
The Faithful Performance Bond shall remain in force until the date of recordation of the Notice of Completion and the end of all warranty periods set forth in the Contract Documents. The Material and Labor Bond shall remain in force until expiration of the time within which the California Labor Commissioner may serve a civil wage and penalty assessment against the principal, any of its subcontractors, or both the principal and its subcontractors pursuant to Labor Code Section 1741, and until the expiration of the time within which a joint labor management committee may commence an action against the principal, any of its subcontractors, or both the principal and its subcontractors pursuant to Labor Code Section 1771.2.

All Bonds must be submitted using the required forms, which are in the Contract Documents, or on any other form approved by SVCE Attorney.

SECTION 2. SCOPE OF THE WORK
2-2 PERMITS
Before starting any construction work, the Contractor will be required to obtain all necessary permits from SVCE, which may include obtaining a no fee encroachment permit for Work within the public right-of-way, as well as all other permits required from all other agencies. Should this Project require construction of trenches or excavations which are five (5) feet or deeper and into which a person is required to descend, the Contractor shall obtain a Cal/OSHA permit and furnish SVCE with a copy before Work can commence on this Project. Contractor shall bear all cost for fees for all agencies except for SVCE’s permit fees.

Item 1f
Attachment 1
GP-3
2-4 COOPERATION AND COLLATERAL WORK
The Contractor shall be responsible for coordinating all Work with SVCE’s street sweeping, trash pick-up, and street maintenance contractors, emergency services departments, utility companies’ crews, and others when necessary. Payment for conforming to these requirements shall be included in other items of Work, and no additional payment shall be made thereof. 2-5.4 Haul Routes
Subsection 2-5.4 of Part 1 of the Standard Specifications shall be deleted and replaced as follows:

The Contractor must obtain SVCE Engineer’s approval before using any haul routes. Further detail requirements for haul traffic are delineated in the Special Provisions.
2-7 CHANGES INITIATED BY THE AGENCY
2-7.1 General.

SVCE reserves the right, without notice to the Surety, to increase or decrease the quantity of any item or portion of the Work described in the Contract Documents or to alter or omit portions of the Work so described, as may be deemed necessary or expedient by SVCE Engineer, without in any way making the Contract void. Such increases, alterations or decreases of Work shall be considered and treated as though originally contracted for, and shall be subject to all the terms, conditions and provisions of the original Contract. The Contractor shall not claim or bring suit for damages, whether for loss of profits or otherwise, on account of any decrease, alteration or omission of any kind of Work to be done.
2-8 EXTRA WORK
New and unforeseen work will be classified as Extra Work only when the Work is not covered and cannot be paid for under any of the various items or combination of items for which a Bid price appears on the Bid. The Contractor shall not do any Extra Work except upon written order from SVCE Engineer.

SECTION 3. CONTROL OF THE WORK
3-1 ASSIGNMENT
Any purported assignment without written consent of SVCE shall be null, void, and of no effect, and the Contractor shall hold harmless, defend and indemnify SVCE and its officers, officials, employees, agents and representatives with respect to any claim, demand or action arising from or relating to any unauthorized assignment.

If SVCE opts to consent to assignment, SVCE’s consent shall be contingent upon: (1) a letter from the Surety agreeing to the assignment and assigning all of the Bonds to the assignee without any reduction, or the assignee supplying all new Bonds in the amounts originally required under the Contract Documents; and (2) the assignee supplying all of the required insurance in the amounts required in the Contract Documents. Until the Surety assigns all of the Bonds or the assignee supplies all of the new Bonds, and until the assignee supplies all of the required insurance, an assignment otherwise consented to in writing by SVCE shall not be effective. Even Item 1f
Attachment 1
GP-4
if SVCE consents to assignment, no assignment shall relieve the Contractor of liability under the Contract.
3-5 INSPECTION
The Contractor shall arrange and pay for all off-site inspection of the Work required by any ordinance or governing authorities. The Contractor shall also arrange and pay for other inspections, including tests in connection therewith, as may be assigned or required.

3.7 CONTRACT DOCUMENTS
3-7.1 General
In addition to the requirements under Section 3-7.1 in the Standard Specifications, the Contractor shall maintain a control set of Plans and Specifications on the Project site at all times. All final locations determined in the field, and any deviations from the Plans and Specifications, shall be marked in red on the control set to show the as-built conditions. This control set of Plans shall also be edited for all Addenda, Requests for Information, Change Orders, field changes not involving cost, and any other variation that occurred during construction. Upon completion of all Work, the Contractor shall return the control set to SVCE Engineer. Final payment will not be made until this requirement is met.

Where a work feature is shown on the drawings or identified in the Specifications but is not specifically indicated as an item in the Bid sheets, and there is no ambiguity regarding the requirement to construct, install, or construct and install that work feature, the Contractor is required to complete the work feature. All costs to the Contractor for constructing, installing, or both constructing and installing such a work feature shall be included in the Bid. 3-7.2 Precedence of the Contract Documents
With regard to Section 3-7.2 in the Standard Specifications, the order of precedence shall be as follows:

1. Permits issued by regulatory agencies with jurisdiction.

2. Change Orders and Supplemental Agreements, whichever occurs last.

3. Contract/Agreement.

4. Addenda.

5. Notice Inviting Bids.

6. Instructions to Bidders.

7. Bid/Proposal.

8. Special Provisions.

9. General Provisions.

10. Plans.

11. Standard Plans.

12. Standard Specifications.

13. Reference Specifications.
3-9 SUBSURFACE DATA
If SVCE or its consultants have made investigations of subsurface conditions in areas where the Work is to be performed, such investigations shall be deemed made only for the purpose of study Item 1f
Attachment 1
GP-5
and design. If a geotechnical or other report has been prepared for the Project, the Contractor may inspect the records pertaining to such investigations subject to and upon the conditions hereinafter set forth. The inspection of the records shall be made in the office of SVCE Engineer.

It is the Contractor’s sole responsibility to determine whether such investigations exist, and SVCE makes no affirmative or negative representation concerning the existence of such investigations.

The records of any such investigations are made available solely for the convenience of the Contractor. It is expressly understood and agreed that SVCE, SVCE Engineer, their agents, consultants or employees assume no responsibility whatsoever with respect to the sufficiency or accuracy of any investigations, the records thereof, and the interpretations set forth therein. No warranty or guarantee is expressed or implied that the conditions indicated by any such investigations or records are representative of those existing in the Project area. The Contractor agrees to make such independent investigations and examination as necessary to be satisfied of the conditions to be encountered in the performance of the Work.

The Contractor represents that it has studied the Plans, Specifications and other Contract Documents, and all surveys and investigation reports of subsurface and latent physical conditions, has made such additional surveys and investigations as necessary for the performance of the Work at the Contract Price in accordance with the requirements of the Contract Documents, and that it has correlated the results of all such data with the requirements of the Contract Documents.

No claim of any kind shall be made or allowed for any error, omission or claimed error or omission, in whole or in part, of any geotechnical exploration or any other report or data furnished or not furnished by SVCE.
3-10 SURVEYING
3-10.1 General
The Contractor shall verify all dimensions on the drawings and shall report to SVCE any discrepancies before proceeding with related Work. The Contractor shall perform all survey and layout Work per the benchmark information on the Project Plans. All surveying Work must conform to the Professional Land Surveyors’ Act (Business and Professions Code Section 8700 et seq). All Project surveying notes and “cut-sheets” are to be provided to SVCE after the completion of each surveying activity and all final surveying notes shall be provided before final payment to the Contractor.

Construction stakes shall be set and stationed by Contractor at its expense. Unless otherwise indicated in the Special Provisions, surveying costs shall be included in the price of items bid. No separate payment will be made. Re-staking and replacement of construction survey markers damaged as a result of the Work, vandalism, or accident shall be at the Contractor’s expense. 3-11 CONTRACT INFORMATION SIGNS
The names, addresses and specialties of the Contractor, Subcontractors, architects or engineers may not be displayed on any signage within the public right-of-way. This signage prohibition includes advertising banners hung from truck beds or other equipment. 3-12 WORKSITE MAINTENANCE
3-12.1 General.

Item 1f
Attachment 1
GP-6
Clean-up shall be done as Work progresses at the end of each day and thoroughly before weekends. The Contractor shall not allow the Work site to become littered with trash and waste material, but shall maintain the same in a neat and orderly condition throughout the construction operation. Materials which need to be disposed shall not be stored at the Project site, but shall be removed by the end of each Working Day. If the job site is not cleaned to the satisfaction of SVCE Engineer, the cleaning will be done or contracted by SVCE and shall be back-charged to the Contractor and deducted from the Contract Price.

The Contractor shall promptly remove from the vicinity of the completed Work, all rubbish, debris, unused materials, concrete forms, construction equipment, and temporary structures and facilities used during construction. Final acceptance of the Work by SVCE will be withheld until the Contractor has satisfactorily complied with the foregoing requirements for final clean-up of the Project site.

3.12.4 Storage of Equipment and Materials.
3-12.4.1 General
The Contractor shall make arrangements for storing its equipment and materials. The Contractor shall make its own arrangements for any necessary off-site storage or shop areas necessary for the proper execution of the Work. Approved areas within Work site may be used for temporary storage; however, the Contractor shall be responsible for obtaining any necessary permits from SVCE. In any case, the Contractor’s equipment and personal vehicles of the Contractor’s employees shall not be parked on the traveled way or on any section where traffic is restricted at any time.

The Contractor shall deliver, handle, and store materials in accordance with the manufacturer’s written recommendations and by methods and means that will prevent damage, deterioration, and loss including theft. Delivery schedules shall be controlled to minimize long-term storage of products at the Project site and overcrowding of construction spaces. In particular, the Contractor shall provide delivery and installation coordination to ensure minimum holding or storage times for materials recognized to be flammable, hazardous, easily damaged, or sensitive to deterioration, theft, and other sources of loss.

Storage shall be arranged to provide access for inspection. The Contractor shall periodically inspect to assure materials are undamaged and are maintained under required conditions.

All costs associated with the clean-up and storage required to complete the Project shall be the sole responsibility of the Contractor.
3-12.4.2 Storage in Public Streets
The first sentence of Section 3-12.4.2 shall not be incorporated and shall instead be replaced with the following:

Construction materials and equipment shall not be stored in Streets, roads, or highways unless otherwise specified in the Special Provisions or approved by SVCE Engineer. 3-13 COMPLETION, ACCEPTANCE, AND WARRANTY
3-13.1 Completion.

Item 1f
Attachment 1
GP-7
The Contractor shall complete all Work under the Contract within 119 Calendar Days from the Notice to Proceed.
3-13.2 Acceptance
The Project will not be considered complete and ready for SVCE Board direction to staff regarding recordation of the Notice of Completion until all required Work is completed, the Work site is cleaned up in accordance with Section 3-12 of Part 1 of the Standard Specifications and the Special Provisions, and all of the following items have been received by SVCE Engineer:

1. A form of Notice of Completion, with all information required by the California Civil Code;

2. All written guarantees and warranties;

3. Evidence that the Performance Bond has been extended and will remain in effect for the period specified in Section 1-7.2 of the Standard Specifications, as modified by these General Provisions;

4. All “as-builts”;

5. Duplicate copies of all operating instructions and manufacturer’s operating catalogs and data, together with such field instructions as necessary to fully instruct SVCE personnel in correct operation and maintenance procedures for all equipment installed listed under the electrical, air conditioning, heating, ventilating and other trades. This data and instructions shall be furnished for all equipment requiring periodic adjustments, maintenance or other operation procedures.

The Contractor shall allow at least seven (7) Working Days’ notice for final inspection. Such notice shall be submitted to SVCE Engineer in writing.
3-13.3 Warranty
The following is added to Section 3-13.3:

For the purposes of the calculation of the start of the warranty period, the Work shall be deemed to be completed upon the date of recordation of the Notice of Completion. If that direction is contingent on the completion of any items remaining on a punchlist, the Work shall be deemed to be completed upon the date of SVCE Engineer’s acceptance of the final item(s) on that punchlist.

The Contractor shall repair or replace defective materials and workmanship as required in this Section 3-13.3 at its own expense. Additionally, the Contractor agrees to defend, indemnify and hold SVCE harmless from claims of any kind arising from damage, injury or death due to such defects.

The parties agree that no certificate given shall be conclusive evidence of the faithful performance of the Contract, either in whole or in part, and that no payment shall be construed to be in acceptance of any defective Work or improper materials. Further, the certificate or final payment shall not terminate the Contractor’s obligations under the warranty herein. The Contractor agrees that payment of the amount due under the Contract and the adjustments and payments due for any Work done in accordance with any alterations of the same, shall release SVCE, SVCE Item 1f
Attachment 1
GP-8
Council and its officers and employees from any and all claims or liability on account of Work performed under the Contract or any alteration thereof.

SECTION 4. CONTROL OF MATERIALS
4-1 GENERAL
The Contractor and all Subcontractors, suppliers, and vendors shall guarantee that the Work will meet all requirements of this Contract as to the quality of materials, equipment, and workmanship. 4-4 TESTING
Except as elsewhere specified, SVCE shall bear the cost of testing materials and workmanship that meet or exceed the requirements indicated in the Standard Specifications and the Special Provisions. The cost of all other tests, including the retesting of material or workmanship that fails to pass the first test, shall be borne by the Contractor. 4-6 TRADE NAMES
If the Contractor requests to substitute an equivalent item for a brand or trade name item, the burden of proof as to the comparative quality and suitability of alternative equipment or articles or materials shall be upon the Contractor, and the Contractor shall furnish, at its own expense, all information necessary or related thereto as required by SVCE Engineer. All requests for substitution shall be submitted, together with all documentation necessary for SVCE Engineer to determine equivalence, no later than 14 calendar Days after the award of Contract, unless a different deadline is listed in the Special Provisions.

SECTION 5. LEGAL RELATIONS AND RESPONSIBILITIES
5-3 LABOR
5-3.1 Public Work
The Contractor acknowledges that the Project is a “public work” as defined in Labor Code Section 1720 et seq. (“Chapter 1”), and that this Project is subject to (a) Chapter 1, including without limitation Labor Code Section 1771 and (b) the rules and regulations established by the Director of Industrial Relations (“DIR”) implementing such statutes. The Contractor shall perform all Work on the Project as a public work. The Contractor shall comply with and be bound by all the terms, rules and regulations described in (a) and (b) as though set forth in full herein. 5-3.2 Copies of Wage Rates
Pursuant to Labor Code Section 1773.2, copies of the prevailing rate of per diem wages for each craft, classification, or type of worker needed to perform the Project are on file at SVCE and will be made available to any interested party on request. By initiating any Work, the Contractor acknowledges receipt of a copy of the DIR determination of such prevailing rate of per diem wages, and the Contractor shall post such rates at each job site covered by these Contract Documents.

The Contractor shall comply with and be bound by the provisions of Labor Code Sections 1774 and 1775 concerning the payment of prevailing rates of wages to workers and the penalties for Item 1f
Attachment 1
GP-9
failure to pay prevailing wages. The Contractor shall, as a penalty paid to SVCE, forfeit two hundred dollars ($200) for each calendar day, or portion thereof, for each worker paid less than the prevailing rates as determined by the DIR for the work or craft in which the worker is employed for any public work done pursuant to these Contract Documents by the Contractor or by any Subcontractor.
5-3.3 Payroll Records
The Contractor shall comply with and be bound by the provisions of Labor Code Section 1776, which requires the Contractor and each Subcontractor to (1) keep accurate payroll records and verify such records in writing under penalty of perjury, as specified in Section 1776, (2) certify and make such payroll records available for inspection as provided by Section 1776, and (3) inform SVCE of the location of the records. The Contractor has ten (10) days in which to comply subsequent to receipt of a written notice requesting these records, or as a penalty to SVCE, the Contractor shall forfeit one hundred dollars ($100) for each Day, or portion thereof, for each worker, until strict compliance is effectuated. Upon the request of the Division of Labor Standards Enforcement, these penalties shall be withheld from progress payments then due.

The Contractor and each Subcontractor shall comply with and be bound by the provisions of Labor Code Section 1771.4(a)(3), which requires that each Contractor and each Subcontractor shall furnish the records specified in Section 1776 directly to the Labor Commissioner at least monthly, in a format prescribed by the Labor Commissioner.
5-3.4 Hours of Labor
The Contractor acknowledges that eight (8) hours labor constitutes a legal day’s work. The Contractor shall comply with and be bound by Labor Code Section 1810. The Contractor shall comply with and be bound by the provisions of Labor Code Section 1813 concerning penalties for workers who work excess hours. The Contractor shall, as a penalty paid to SVCE, forfeit twenty-five dollars ($25) for each worker employed in the performance of this Project by the Contractor or by any Subcontractor for each calendar day during which such worker is required or permitted to work more than eight (8) hours in any one (1) calendar day and forty (40) hours in any one calendar week in violation of the provisions of Division 2, Part 7, Chapter 1, Article 3 of the Labor Code. Pursuant to Labor Code Section 1815, work performed by employees of the Contractor in excess of eight (8) hours per day, and forty (40) hours during any one week shall be permitted upon public work upon compensation for all hours worked in excess of eight (8) hours per day at not less than one and one-half (1-1/2) times the basic rate of pay.

Item 1f
Attachment 1
GP-10
5-3.5 Apprentices
The Contractor shall comply with and be bound by the provisions of Labor Code Sections 1777.5, 1777.6 and 1777.7 and California Code of Regulations Title 8, Section 200 et seq. concerning the employment of apprentices on public works projects. The Contractor shall be responsible for compliance with these Sections for all apprenticeable occupations. Before commencing Work on this Project, the Contractor shall provide SVCE with a copy of the information submitted to any applicable apprenticeship program. Within sixty (60) Days after concluding Work, Contractor and each of its Subcontractors shall submit to SVCE a verified statement of the journeyman and apprentice hours performed under this Contract.
5-3.6 Debarment or Suspension
The Contractor shall not perform Work with any Subcontractor that has been debarred or suspended pursuant to California Labor Code Section 1777.1 or any other federal or State law providing for the debarment of contractors from public works. The Contractor and Subcontractors shall not be debarred or suspended throughout the duration of this Contract pursuant to Labor Code Section 1777.1 or any other federal or State law providing for the debarment of contractors from public works. If the Contractor or any Subcontractor becomes debarred or suspended during the duration of the Project, the Contractor shall immediately notify SVCE. 5-3.7 Registration with the DIR
In accordance with Labor Code Sections 1725.5 and 1771.1, no contractor or subcontractor shall be qualified to bid on, be listed in a bid proposal, subject to the requirements of Section 4104 of the Public Contract Code, or engage in the performance of any contract for public work, unless currently registered and qualified to perform public work pursuant to Section 1725.5. 5-3.8 Compliance Monitoring and Posting Job Sites
This Project is subject to compliance monitoring and enforcement by the DIR. The Contractor shall post job site notices, as prescribed by regulation. 5-3.9 Subcontractors
For every Subcontractor who will perform Work on the Project, the Contractor shall be responsible for such Subcontractor’s compliance with Chapter 1 and Labor Code Sections 1860 and 3700, and the Contractor shall include in the written Contract between it and each Subcontractor a copy of the provisions in this Section 5-3 of the General Provisions and a requirement that each Subcontractor shall comply with those provisions. The Contractor shall be required to take all actions necessary to enforce such contractual provisions and ensure Subcontractor’s compliance, including without limitation, conducting a periodic review of the certified payroll records of the Subcontractor and upon becoming aware of the failure of the Subcontractor to pay its workers the specified prevailing rate of wages, the Contractor shall diligently take corrective action to halt or rectify any failure.
5-3.10 Prevailing Wage Indemnity
To the maximum extent permitted by law, the Contractor shall indemnify, hold harmless and defend (at the Contractor’s expense with counsel reasonably acceptable to SVCE) SVCE, its Item 1f
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officials, officers, employees, agents and independent contractors serving in the role of SVCE officials, and volunteers from and against any demand or claim for damages, compensation, fines, penalties or other amounts arising out of or incidental to any acts or omissions listed in Section 5-3 of the General Provisions by any Person (including the Contractor, its Subcontractors, and each of their officials, officers, employees and agents) in connection with any Work undertaken or in connection with the Contract Documents, including without limitation the payment of all consequential damages, attorneys’ fees, and other related costs and expenses. All duties of the Contractor under this Section 5-3.10 shall survive expiration or termination of the Contract. 5-4 INSURANCE
5-4.1 General
The first paragraph of Section 5-4.1 of Part 1 of the Standard Specifications shall not be incorporated and shall instead be replaced with the following:

The Contractor shall provide and maintain insurance naming SVCE, its elected and appointed officials, officers, employees, attorneys, agents, volunteers, and independent contractors in the role of SVCE officials as insureds or additional insureds regardless of any inconsistent statement in the policy or any subsequent endorsement whether liability is attributable to the Contractor or SVCE. The insurance provisions shall not be construed to limit the Contractor’s indemnity obligations contained in the Contract. SVCE will not be liable for any accident, loss or damage to the Work prior to completion, except as otherwise specified in Section 6-5.
5-4.2 General Liability Insurance
The Contractor shall at all times during the term of the Contract carry, maintain, and keep in full force and effect the insurance referenced in Section 5-4 of Part 1 of the Standard Specifications, as modified below.
5-4.2.1Additional Insureds
SVCE, its elected and appointed officials, officers, employees, attorneys, agents, volunteers, and independent contractors in the role of SVCE officials, shall be the insured or named as additional insureds covering the Work, regardless of any inconsistent statement in the policy or any subsequent endorsement, whether liability is attributable to the Contractor or SVCE. 5-4.2.2 No Limitation on Indemnity
The insurance provisions shall not be construed to limit the Contractor’s indemnity obligations contained in these Contract Documents.

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5-4.2.3 Replacement Insurance
The Contractor agrees that it will not cancel, reduce or otherwise modify the insurance coverage required by this Section 5-4 during the term of the Contract. The Contractor agrees that if it does not keep the required insurance in full force and effect, and such insurance is available at a reasonable cost, SVCE may take out the necessary insurance and pay the premium thereon, and the repayment thereof shall be deemed an obligation of the Contractor and the cost of such insurance may be deducted, at the option of SVCE, from payments due the Contractor. This shall be in addition to all other legal options available to SVCE to enforce the insurance requirements. 5-4.2.4 Certificates of Insurance with Original Endorsements The Contractor shall submit to SVCE certificates of insurance with the original endorsements, both of which reference the same policy number, for each of the insurance policies that meet the insurance requirements, not less than one (1) day before beginning of performance under the Contract. The endorsements are to be signed by a person authorized by that insurer to bind coverage on its behalf. Endorsements must be executed on forms approved by SVCE. The endorsements must specifically name SVCE and its elected and appointed officials, officers, employees, attorneys, agents, volunteers, and independent contractors in the role of SVCE officials as insureds or additional insureds. Current insurance certificates and endorsements shall be kept on file with SVCE at all times during the term of this Contract. SVCE reserves the right to require complete, certified copies of all required insurance policies at any time. 5-4.2.5Subcontractors
The Contractor shall require each of its Subcontractors that perform services under the Contract to maintain insurance coverage that meets all of the requirements of this Section 5-4. 5-4.5 Insurance Requirements not Limiting
If the Contractor maintains broader coverage and/or higher limits than the minimums required in this Section 5-4, SVCE requires and shall be entitled to the broader coverage and/or the higher limits maintained by the Contractor. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to SVCE. No representation is made that the minimum insurance requirements of this Contract are sufficient to cover the obligations of the Contractor under this Contract.
5-4.6 Deductibles
Insurance deductibles or self-insured retentions must be declared by the Contractor. At the election of SVCE the Contractor shall either 1) reduce or eliminate such deductibles or self-insured retentions, or 2) procure a bond which guarantees payment of losses and related investigations, claims administration, and defense costs and expenses. If umbrella or excess liability coverage is used to meet any required limit(s) specified herein, the Contractor shall provide a “follow form” endorsement satisfactory to SVCE indicating that such coverage is subject to the same terms and conditions as the underlying liability policy.

5.7 SAFETY
5-7.8 Steel Plate Covers
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5-7.8.1 General
The Contractor shall cover all openings, trenches and excavations at the end of each Work Day with steel plate covers.

Section 5-8 is hereby added to Section 5 of Part 1 of the Standard Specifications, as follows:
5-8 INDEMNIFICATION
The following indemnity provisions shall supersede the indemnity in Section 5-4.1 of the Standard Specifications.
5-8.1 Contractor’s Duty.

To the fullest extent permitted by law, the Contractor shall, at its sole cost and expense, defend, hold harmless and indemnify SVCE and its elected officials, officers, attorneys, agents, employees, volunteers, successors, assigns and those SVCE agents serving as independent contractors in the role of SVCE officials (collectively “Indemnitees”), from and against any and all damages, costs, expenses, liabilities, claims, demands, causes of action, proceedings, expenses, judgments, penalties, stop payment notices, liens, and losses of any nature whatsoever, including fees of accountants, attorneys, or other professionals and all costs associated therewith and the payment of all consequential damages (collectively “Liabilities”), in law or equity, whether actual, alleged or threatened, which arise out of, are claimed to arise out of, pertain to, or relate to the acts or omissions of the Contractor, its officers, agents, servants, employees, Subcontractors, materialmen, contractors or their officers, agents, servants or employees (or any entity or individual for whom the Contractor bears legal liability) in the performance of the Contract, including the Indemnitees’ active or passive negligence, except for Liabilities arising from the sole negligence or willful misconduct of the Indemnitees, as determined by court decision or by the agreement of the Parties. The Contractor shall defend the Indemnitees in any action or actions filed in connection with any Liabilities with counsel of the Indemnitees’ choice, and shall pay all costs and expenses, including all attorneys’ fees and experts’ costs actually incurred in connection with such defense. The Contractor shall reimburse the Indemnitees for any and all legal expenses and costs incurred by Indemnitees in connection therewith. SVCE shall not be liable for any accident, loss, or damage to the Work prior to completion, except as otherwise specified in Section 6-5.
5-8.1.1Taxes and Workers’ Compensation.

The Contractor shall pay all required taxes on amounts paid to the Contractor under the Contract, and indemnify and hold SVCE harmless from any and all taxes, assessments, penalties, and interest asserted against SVCE by reason of the independent contractor relationship created by the Contract. The Contractor shall fully comply with the Workers’ Compensation law regarding the Contractor and the Contractor’s employees. The Contractor shall indemnify and hold SVCE harmless from any failure of the Contractor to comply with applicable Workers’ Compensation laws. SVCE may offset against the amount of any fees due to the Contractor under the Contract any amount due to SVCE from the Contractor as a result of the Contractor’s failure to promptly pay to SVCE any reimbursement or indemnification arising under this Subsection 5-8.1.1. 5-8.1.2Subcontractor Indemnity Agreements.

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The Contractor shall obtain executed indemnity agreements with provisions identical to those in this Section 5-8 from each and every Subcontractor or any other person or entity involved by, for, with or on behalf of the Contractor in the performance of the Contract. If the Contractor fails to obtain such indemnity obligations, the Contractor shall be fully responsible and indemnify, hold harmless and defend the Indemnitees from and against any and all Liabilities at law or in equity, whether actual, alleged or threatened, which arise out of, are claimed to arise out of, pertain to, or relate to the acts or omissions of the Contractor’s Subcontractor, its officers, agents, servants, employees, Subcontractors, materialmen, contractors or their officers, agents, servants or employees (or any entity or individual for whom the Contractor’s Subcontractor bears legal liability) in the performance of the Contract, including the Indemnitees’ active or passive negligence, except for Liabilities arising from the sole negligence or willful misconduct of the Indemnitees, as determined by final court decision or by the agreement of the Parties. 5-8.2 Workers’ Compensation Acts not Limiting.

The Contractor’s indemnifications and obligations under this Section 5-8, or any other provision of the Contract, shall not be limited by the provisions of any Workers’ Compensation act or similar act. The Contractor expressly waives its statutory immunity under such statutes or laws as to SVCE, its officers, agents, employees and volunteers.
5-8.3 Insurance Requirements not Limiting.

SVCE does not, and shall not, waive any rights that it may possess against the Contractor because of the acceptance by SVCE, or the deposit with SVCE, of any insurance policy or certificate required pursuant to the Contract. The indemnities in this Section 5-8 shall apply regardless of whether or not any insurance policies are determined to be applicable to the Liabilities, tax, assessment, penalty or interest asserted against SVCE. 5-8.4 Civil Code Exception.

Nothing in this Section 5-8 shall be construed to encompass Indemnitees’ sole negligence or willful misconduct to the limited extent that the underlying Contract is subject to Civil Code Section 2782(a) or SVCE’s active negligence to the limited extent that the underlying Contract Documents are subject to Civil Code Section 2782(b), provided such sole negligence, willful misconduct or active negligence is determined by agreement between the parties or by the findings of a court of competent jurisdiction.
5-8.5 Nonwaiver of Rights.

Indemnitees do not and shall not waive any rights that they may possess against the Contractor because the acceptance by SVCE, or the deposit with SVCE, of any insurance policy or certificate required pursuant to these Contract Documents. This indemnity provision is effective regardless of any prior, concurrent, or subsequent active or passive negligence by Indemnitees and shall operate to fully indemnify Indemnitees against any such negligence. 5-8.6 Waiver of Right of Subrogation.

The Contractor, on behalf of itself and all parties claiming under or through it, hereby waives all rights of subrogation and contribution against the Indemnitees, while acting within the scope of their duties, from all Claims arising out of or incident to the activities or operations performed by or on behalf of the Contractor regardless of any prior, concurrent or subsequent active or passive Item 1f
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negligence by Indemnitees.
5-8.7 Survival of Terms.

The Contractor’s indemnifications and obligations under this Section 5-8 shall survive the expiration or termination of the Contract, are intended to be as broad and inclusive as is permitted by the law of the State, and are in addition to any other rights or remedies that Indemnitees may have under the law. Payment is not required as a condition precedent to an Indemnitee’s right to recover under this indemnity provision, and an entry of judgment against the Contractor shall be conclusive in favor of the Indemnitee’s right to recover under this indemnity provision.

SECTION 6. PROSECUTION AND PROGRESS OF THE WORK
6-1 CONSTRUCTION SCHEDULE AND COMMENCEMENT OF THE WORK
6-1.1 Construction Schedule
One (1) week before the scheduled pre-construction meeting, the Contractor must submit to SVCE for review and approval the construction schedule required by the first paragraph of Section 6-1.1. The Contractor shall make revisions as required by SVCE The schedule must account for all subcontract work, as well as the work of the Contractor, submittals, coordination with the other contractors performing concurrent work and the Traffic Control Plan. The Contractor shall update this Construction Schedule when directed by SVCE, or when:
a. A Change Order significantly affects the Contract completion date or the sequence of construction approach or activities; or
b. The actual sequence of the Work, or the planned sequence of the Work, is changed and does not conform to the Contractor’s current accepted Project construction schedule.

The Contractor shall submit an updated construction schedule with its monthly invoice every month. Progress payments shall be contingent upon the receipt of monthly updated construction schedules.
6-1.1.1Pre-Construction Conference
Approximately 14 Days before the commencement of Work at the site, a pre-construction conference will be held at SVCE and shall be attended by the Contractor’s Project manager, its on-site field superintendent, and any Subcontractors that the Contractor deems appropriate.

Attendance by the Contractor and any Subcontractors designated is mandatory.

Contractor shall submit its twenty-four (24) hour emergency telephone numbers to SVCE Engineer for approval a minimum of two (2) Working Days before the pre-construction conference.

Unless previously submitted to SVCE Engineer, the Contractor shall bring to the pre-construction conference copies of each of the following:
1) Construction Schedule.
2) Procurement schedule of major equipment and materials and items requiring long lead time.
3) Shop drawing/sample submittal schedule.

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4) Preliminary schedule of values (lump sum price breakdown) for progress payment purposes.
5) Written designation of the on-site field superintendent and the Project manager.

Both daytime and emergency telephone numbers shall be included in the written designation.

The purpose of the conference is to designate responsible personnel and establish a working relationship. The parties will discuss matters requiring coordination and establish procedures for handling such matters. The complete agenda will be furnished to the Contractor before the meeting date. The Contractor shall be prepared to discuss all of the items listed below. 1) The Contractor’s construction schedule.
2) Notification of local residents before starting any Work and keeping them informed throughout the Project.
3) Procedures for transmittal, review, and distribution of the Contractor’s submittals. 4) Processing applications for payment.
5) Maintaining record documents.
6) Critical Work sequencing.
7) Maintaining sewage service during construction, including proposed by-passes. 8) NPDES requirements, if any.
9) Field decisions and Change Orders.
10) Use of Project site, office and storage areas, security, housekeeping, and SVCE’s needs.
11) Major equipment deliveries and priorities.
12) Traffic control.
13) Any other item that SVCE representative states is relevant to the meeting. 6-1.1.2Weekly Progress Meetings
Progress meetings will be held each week during the course of the Project. The meeting location, day of the week and time of day will be mutually agreed to by SVCE and the Contractor. The Contractor shall provide a two (2) week “look ahead” schedule for each meeting. The construction manager will preside at these meetings and will prepare the meeting agenda, meeting minutes and will distribute minutes to all persons in attendance. As the Work progresses, if it is determined by agreement of the attendees, that weekly meetings are not necessary, the weekly progress meetings may be changed to bi-weekly progress meetings. 6-1.2 Commencement of the Work
The Contractor shall not begin any construction activity at the site before the issuance of the Notice to Proceed. Any Work that is done by the Contractor in advance of the Notice to Proceed shall be considered as being done at the Contractor’s own risk and responsibility, and as a consequence will be subject to rejection.

Section 6-1.3 is hereby added to Section 6 of Part 1 of the Standard Specifications, as follows:
6-1.3 Working Days And Hours
The Contractor shall do all Work between the hours of _______ a.m. to _______ p.m., ___________ through ____________. No Work will be allowed on ________, _________ or city holidays, which are as follows: __________________________________________.

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A permit may have other hours or Days for the Contractor to do the Work, and those hours and Days shall supersede any hours and Days written in this Section.

Whenever the Contractor is permitted or directed to perform night Work or to vary the period during which Work is performed during the Working Day, the Contractor shall give twelve (12) hours’ notice to SVCE Engineer so that inspection may be provided. A charge may be made to the Contractor for approved overtime or weekend inspections requested by the Contractor. 6-4 DELAYS AND EXTENSIONS OF TIME
6-4.1 General.

Unless otherwise agreed in writing, an adjustment to the Contract time by reason of a Change Order shall be agreed to at the time the Change Order is issued and accepted by Contractor. If the Change Order does not reserve the right of the parties, or either of them, to seek an adjustment to the Contract time, then the parties forever relinquish and waive such right and there shall be no further adjustments to the Contract time.

No extension of time will be granted for any event, including pandemics, leading to the issuance of a “stay at home” or similar kind of order by any local, State, or federal governmental authority, if the Work has been deemed, either by emergency order or proclamation, or operation of law, to be an essential service that is exempt from such stay at home or similar order. 6-4.2 Extensions of Time
In the event it is deemed appropriate by SVCE to extend the time for completion of the Work, any such extension shall not release any guarantee for the Work required by the Contract Documents, nor shall any such extension of time relieve or release the Sureties on the Bonds executed. In executing such Bonds, the Sureties shall be deemed to have expressly agreed to any such extensions of time. The amount of time allowed by an extension of time shall be limited to the period of the delay giving rise to the same as determined by SVCE. Notwithstanding any dispute which may arise in connection with a claim for adjustment of the Contract time, the Contractor shall promptly proceed with the Work.
6-4.3 Payment for Delays
Notwithstanding any other terms and conditions of the Contract Documents, SVCE shall have no obligation whatsoever to increase the Contract Price or extend the time for delays.

Unless compensation and/or markup is agreed upon by SVCE, the Contractor agrees that no payment of compensation of any kind shall be made to the Contractor for damages or increased overhead costs caused by any delays in the progress of the Contract, whether such delays are avoidable or unavoidable or caused by any act or omission of SVCE or its agents. Any accepted delay claim shall be fully compensated for by an extension of time to complete the performance of the Work.

This Section shall not apply to compensable delays caused solely by SVCE. If a compensable delay is caused solely by SVCE, the Contractor shall be entitled to a Change Order that:
(1) extends the time for completion of the Contract by the amount of delay caused by SVCE; and (2) provides equitable adjustment, as determined by SVCE, to the Contractor.

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6-8 TERMINATION OF THE CONTRACT FOR CONVENIENCE
Notwithstanding any provision of Section 6-8, SVCE may terminate this Agreement for any or no reason by providing not less than fifteen (15) Days’ prior notice.

The following sentence is added to Section 6-8:

In no event (including termination for impossibility or impracticability, due to conditions or events beyond the control of SVCE, for any other reason or for no reason) shall the total amount of money to Contractor exceed the amount which would have been paid to Contractor for the full performance of the services described in the Contract.
6-9 LIQUIDATED DAMAGES
The $250/day liquidated damage amount is hereby replaced with the amount of $1,000/day.

For the purposes of the calculation of the start of the liquidated damages, the Work shall be deemed to be completed when the same has been completed in accordance with the Plans and Specifications therefor and to the satisfaction of SVCE , and SVCE has certified such completion in accordance with Section 3-13.1 of Part 1 of the Standard Specifications.

SECTION 7. MEASUREMENT AND PAYMENT

7.3 PAYMENT

7.3.1 General
The unit and lump sum prices to be paid shall constitute full compensation for all labor, equipment, materials, tools and incidentals required to complete the Project as outlined in these Contract Documents and as directed by SVCE Engineer. In accordance with Public Contract Code Section 7107, if no claims have been filed and are still pending, the amount deducted from the final estimate and retained by SVCE will be paid to the Contractor except such amounts as are required by law to be withheld by properly executed and filed notices to stop payment, or as may be withheld for any other lawful purposes.
7-3.2 Partial and Final Payment
7-3.2.1 Monthly Closure Date and Invoice Date
For purposes of Section 7-3.2, the monthly closure date shall be the last Day of each month. A measurement of Work performed and a progress estimate of the value thereof based on the Contract and of the monthly payment shall be prepared by the Contractor and submitted to SVCE Engineer before the tenth (10th) Day of the following month for verification and payment consideration.
7-3.2.2Payments
SVCE shall make payments within thirty (30) Days after receipt of the Contractor’s undisputed and properly submitted payment request, including an updated construction schedule pursuant to Section 6-1.1 of the General Provisions. SVCE shall return to the Contractor any payment request determined not to be a proper payment request as soon as practicable, but not later than seven Item 1f
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(7) Days after receipt, and shall explain in writing the reasons why the payment request is not proper.
7-3.2.3 Retention
SVCE shall withhold not less than five percent (5%) from each progress payment. However, at any time after fifty percent (50%) of the Work has been completed, if SVCE Council finds that satisfactory progress is being made, it may, at its discretion, make any of the remaining progress payments in full for actual Work completed. SVCE shall withhold not less than five percent (5%) of the Contract Price from the Final Payment Amount (defined in Section 7-3.2.4) until at least thirty-five (35) days after recordation of the Notice of Completion, or recordation of a notice of acceptance or cessation, but not later than the period permitted by Public Contract Code Section 7107.
7-3.2.4Final Invoice and Payment
Whenever the Contractor shall have completely performed the Contract in the opinion of SVCE , SVCE Engineer shall notify SVCE that the Contract has been completed in its entirety. The Contractor shall then submit to SVCE Engineer a written statement of the final quantities of Contract items for inclusion in the final invoice. Upon receipt of such statement, SVCE Engineer shall check the quantities included therein and shall authorize a payment amount, which in SVCE Engineer’s opinion shall be just and fair, covering the value of the total amount of Work done by the Contractor, less all previous payments and all amounts to be retained under the provisions of the Contract Documents (“Final Payment Amount”). SVCE Engineer shall then request that SVCE accept the Work and that SVCEbe authorized to file, on behalf of SVCE in the office of the County Recorder, a Notice of Completion of the Work herein agreed to be done by the Contractor.

In addition, the final payment will not be released until the Contractor returns the control set of Plans and Specifications showing the redlined as-built conditions. 7-3.2.5Substitute Security
In accordance with Public Contract Code Section 22300, the Contractor may request that it be permitted to substitute securities in lieu of having retention withheld by SVCE from progress payments when such payments become due or, in the alternative, the Contractor may request that SVCE make payments of earned retentions directly to an agreed upon designated escrow agent at the Contractor’s expense. If the Contractor selects either one of these alternatives, the following shall control.

7.3.2.5.1 Substitution of Securities for Performance Retention At some reasonable time before any progress payment would otherwise be due and payable to the Contractor in the performance of Work under these Contract Documents, the Contractor may submit a request to SVCE in writing to permit the substitution of retentions with securities equivalent to the amount estimated by SVCE (“estimated amount of retention”) to be withheld.

The Contractor shall deposit such securities with SVCE or may, in the alternative, deposit such securities in escrow with a State or federally chartered bank in California, as the escrow agent, at the Contractor’s expense. Such securities will be the equivalent or greater in value of the estimated amount of retention. If the Contract is modified by written Modifications or Change Orders or the Contractor otherwise becomes entitled to receive an amount more than the Contract Price at the time the securities are deposited, the Contractor shall, at the request of SVCE, deposit with SVCE or escrow agent, whichever is applicable, additional securities within a reasonable Item 1f
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time so that the amount of securities on deposit with SVCE or escrow agent is equivalent or greater in value than the amount of retention SVCE would otherwise be entitled to withhold from progress payments due or to become due to the Contractor as the Work progresses. SVCE shall withhold any retention amount that exceeds the security amount until the additional securities are deposited and, if the deposit is with an escrow agent, SVCE has confirmation from that escrow agent of the new total value of securities. Upon satisfactory completion of the Contract, which shall mean, among other things, that SVCE is not otherwise entitled to retain proceeds from progress payments as elsewhere provided in the Contract or under applicable law, the securities shall be returned to the Contractor. SVCE shall, within its sole discretion, determine whether the amount of the securities on deposit with SVCE or escrow agent is equal to or greater than the amount of estimated retention of progress payments that could otherwise be held by SVCE if the Contractor had not elected to substitute same with securities. 7-3.2.5.2 Deposit of Retention Proceeds with an Escrow Agent As an alternative to the substitution of securities, as provided above, or SVCE otherwise retaining and holding retention proceeds from progress payments, the Contractor may request SVCE to make payments of retentions earned directly to an escrow agent with the same qualifications as required in Section 7-3.2.5.1 above and at the expense of the Contractor. At its sole expense, the Contractor may direct the investment of such retention payments into only such securities as mentioned in Section 7-3.2.5.4 below and shall be entitled to interest earned on such investments on the same terms provided for securities deposited by the Contractor. Upon satisfactory completion of the Contract, which shall mean when SVCE would not otherwise be entitled to withhold retention proceeds from progress payments had the Contractor not elected to have such proceeds deposited into escrow, the Contractor shall be allowed to receive from the escrow agent all securities, interest and payments deposited into escrow pursuant to the terms of this Section.

The Contractor shall pay to each Subcontractor, not later than ten (10) Days of receipt of payment, the respective amount of interest earned, net of costs attributed to retention withheld from each Subcontractor, on the amount withheld to ensure performance of the Contractor. 7-3.2.5.3 Subcontractor Entitlement to Interest
If the Contractor elects to receive interest on any moneys withheld in retention by SVCE, then the Subcontractor shall receive the identical rate of interest received by the Contractor on any retention moneys withheld from the Subcontractor by the Contractor, less any actual pro rata costs associated with administering and calculating that interest. In the event that the interest rate is a fluctuating rate, the rate for the Subcontractor shall be determined by calculating the interest rate paid during the time that retentions were withheld from the Subcontractor. If the Contractor elects to substitute securities in lieu of retention, then, by mutual consent of the Contractor and the Subcontractor, the Subcontractor may substitute securities in exchange for the release of moneys held in retention by the Contractor. The Contractor shall pay each Subcontractor, not later than ten (10) Days after receipt of escrow moneys, the amount owed to each Subcontractor from the moneys plus the respective amount of interest earned, net of costs attributed to the retention held from each Subcontractor, on the amount of retention withheld to ensure performance of the Subcontractor.
7-3.2.5.4 Securities Eligible for Investment
Securities eligible for investment shall include those listed in Government Code Section 16430, bank or savings and loan certificates of deposit, interest-bearing demand deposit accounts, standby letters of credit, or any other security mutually agreed upon between the Contractor and Item 1f
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SVCE. The Contractor shall be the beneficial owner of any securities substituted for any monies withheld and shall receive any interest thereon.
7-3.2.5.5 Escrow Agreement for Security Deposits in Lieu of Retention The escrow agreement that shall be used for the deposit of securities in lieu of retention shall substantially conform to the form prescribed in Public Contract Code Section 22300(f). 7-3.2.5.6 Inconsistencies with Prevailing Statutory Requirements If there is any inconsistency between or differences in Public Contract Code Section 22300 and the terms of this provision, or any future amendments thereto, Section 22300 shall control.

Section 7-3.9 is hereby added to Section 7-3 of Part 1 of the Standard Specifications, as follows:
7-3.9 AUDIT
SVCE or its representative shall have the option of inspecting and/or auditing all records and other written materials used by the Contractor in preparing its billings to SVCE as a condition precedent to any payment to the Contractor or in response to a construction claim or a Public Records Act (Government Code Section 7920.000, et seq.) request. The Contractor will promptly furnish documents requested by SVCE at no cost. Additionally, the Contractor shall be subject to State Auditor examination and audit at the request of SVCE or as part of any audit of SVCE, for a period of three (3) years after final payment under the Contract. The Contractor shall include a copy of this Section 7-3.9 in all contracts with its Subcontractors, and the Contractor shall be responsible for immediately obtaining those records or other written material from its Subcontractors upon a request by the State Auditor or SVCE. If the Project includes other auditing requirements, those additional requirements will be listed in the Special Provisions.

SECTION 8 FACILITIES FOR AGENCY PERSONNEL
8-1 General
No field offices for SVCE personnel shall be required; however, SVCE personnel shall have the right to enter upon the Project at all times and shall be admitted to the offices of the Contractor to use the telephone, desk and sanitary facilities provided by the Contractor for its own personnel.

Section 9 is hereby added to Part 1 of the Standard Specifications, as follows:

SECTION 9. ADDITIONAL TERMS
9-1 NONDISCRIMINATORY EMPLOYMENT
The Contractor shall not unlawfully discriminate against any individual based on race, religious creed, color, national origin, ancestry, physical disability, mental disability, medical condition, genetic information, marital status, sex, gender, gender identity, gender expression, age, sexual orientation or military and veteran status. The Contractor understands and agrees that it is bound by and will comply with the nondiscrimination mandates of all statutes and local ordinances and regulations.

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9-3 CONTRACTOR’S RESPONSIBILITY FOR WORK
Until the final acceptance of the Work by SVCE Council in accordance with Section 3-13.2 of the General Provisions, the Contractor shall have the charge and care thereof and shall bear the risk of injury or damage to any part of the Work by the action of the elements, criminal acts, or any other cause. The Contractor shall rebuild, repair, restore and make good all injuries or damages to any portion of the Work occasioned by any cause before its completion and acceptance and shall bear the expense thereof, except for such injuries or damages arising from the sole negligence or willful misconduct of SVCE, its officers, agents or employees. In the case of suspension of Work from any cause whatever, the Contractor shall be responsible for all materials and the protection of Work already completed, shall properly store and protect them if necessary, and shall provide suitable drainage and erect temporary structures where necessary. 9-4 PROCEDURE IN CASE OF DAMAGE TO PUBLIC PROPERTY
Any portions of curb, gutter, sidewalk or any other SVCE improvement damaged by the Contractor during the course of construction shall be replaced by the Contractor at its own cost. The cost of additional replacement of curb, gutter or sidewalk in excess of the estimated quantities shown in the Bid form and Specifications, and found necessary during the process of construction (but not due to damage resulting from carelessness on the part of the Contractor during its operation), shall be paid to the Contractor at the unit prices submitted in his or her Bid. 9-5 REMOVAL OF INTERFERING OBSTRUCTIONS
The Contractor shall remove and dispose of all debris, abandoned structures, tree roots and obstructions of any character encountered during the process of excavation. It is understood that the cost of any such removals are made a part of the unit price bid by the Contractor under the item for excavation or removal of existing Work.
9-6 SOILS ENGINEERING AND TESTING
A certified materials testing firm may be retained by SVCE to perform materials tests during the Contractor’s entire operation to ascertain compliance with the Contract requirements. SVCE shall be responsible for the first series of tests. If the initial tests do not meet the Contract requirements, the Contractor shall bear the cost of all subsequent tests.

If SVCE requires other tests or more specific requirements for testing regarding this Project, those details will be included in the Special Provisions.
9-7 ACCESS TO PRIVATE PROPERTY
Unless otherwise stated in the Special Provisions, the Contractor shall be responsible for all fees and costs associated with securing permission to access private property for any portion of the Project.
9-9 CLAIM DISPUTE RESOLUTION
In the event of any dispute or controversy with SVCE over any matter whatsoever, the Contractor shall not cause any delay or cessation in or of Work, but shall proceed with the performance of the Work in dispute. The Contractor shall retain any and all rights provided that pertain to the resolution of disputes and protests between the parties. The disputed Work will be categorized Item 1f
Attachment 1
GP-23
as an “unresolved dispute” and payment, if any, shall be as later determined by mutual agreement or a court of law. The Contractor shall keep accurate, detailed records of all disputed Work, claims and other disputed matters.

All claims arising out of or related to the Contract Documents or this Project, and the consideration and payment of such claims, are subject to Public Contract Code Section 9204 and Public Contract Code Section 20104 et seq. (Article 1.5), where applicable. This Contract hereby incorporates those provisions as though fully set forth herein. For purposes of this Section, “claim” means a separate demand by the Contractor sent by registered mail or certified mail with return receipt requested, for (i) a time extension, including, without limitation, for relief from damages or penalties for delay assessed by SVCE, (ii) payment by SVCE of money or damages arising from work done by, or on behalf of, the Contractor pursuant to the Contract Documents, payment for which is not otherwise expressly provided or to which the claimant is not otherwise entitled, or (iii) payment of an amount that is disputed by SVCE. The Contractor or any Subcontractor must file a claim in accordance with Section 9204 and Article 1.5 (if applicable), and must then adhere to Section 9204 and Article 1.5 (as applicable)
In addition to compliance with Public Contract Code Section 9204 and Article 1.5, filing a claim in accordance with the Government Claims Act (Government Code Section 810 et seq.) is a prerequisite to filing any lawsuit against SVCE relating to this Contract. 9-10 THIRD PARTY CLAIMS
SVCE shall have full authority to compromise or otherwise settle any claim relating to the Project at any time. SVCE shall timely notify the Contractor of the receipt of any third-party claim relating to the Project. SVCE shall be entitled to recover its reasonable costs incurred in providing this notice.
9-11 COMPLIANCE WITH LAWS
The Contractor shall comply with all applicable federal, State and local laws, ordinances, codes and regulations in force at the time the Contractor performs pursuant to the Contract Documents. 9-12 REQUIREMENT TO MITIGATE THE SPREAD OF COVID-19. The Contractor and all subcontractors for the Work shall comply with all applicable Federal, State, County, and City statutes, regulations, orders, and ordinances regarding COVID-19 Infection Prevention. This requirement specifically includes, without limitation, compliance with the “Safety and Health Guidance COVID-19 Infection Prevention in Construction” issued by the California Department of Industrial Relations, Division of Occupational Safety and Health and Safety on October 27, 2020 and as may be amended from time to time by the Department.

Prior to the pre-construction meeting, the Contractor shall submit to SVCE a “COVID-19 Mitigation Program” implementing these requirements and shall post the COVID-19 Mitigation Program on the project site in a manner designated by SVCE’s Project Manager. The failure of employees or workers of the Contractor and all subcontractors on the Work to comply with these requirements shall be a default per Section 6-7.1, and may also result in a suspension of the Work pursuant to Section 6-6. Contractor acknowledges that, in the event that the Engineer suspends the Work as a result of such failure by Contractor or one of its subcontractors to comply with these requirements, SVCE is not responsible for the delay, and that pursuant to Section 6-6.1 the Contractor is not entitled to compensation. The Contractor shall also pay to SVCE the costs and expenses incurred by SVCE resulting from the failure of employees of the Contractor and all Item 1f
Attachment 1
GP-24
subcontractors on the Work to comply with these requirements including, but not limited to, the salaries and benefits for SVCE employees who are unable to work due to exposure to COVID-19 as a result of such failure, and workers compensation benefits and expenses. Delays in the Work resulting from Contractor’s or its subcontractor’s failure to comply with these regulations shall not be considered an unforeseen event entitling Contractor to an extension of time or payment for delay pursuant to Section 6-4 of the Standard Specifications. 9-13 CONTRACTOR’S REPRESENTATIONS
By signing the Contract, the Contractor represents, covenants, agrees, and declares under penalty of perjury under the laws of the State of California that: (a) the Contractor is licensed, qualified, and capable of furnishing the labor, materials, and expertise necessary to perform the services in accordance with the terms and conditions set forth in the Contract Documents; (b) there are no obligations, commitments, or impediments of any kind that will limit or prevent its full performance under the Contract Documents; (c) there is no litigation pending against the Contractor that could adversely affect its performance of the Contract, and the Contractor is not the subject of any criminal investigation or proceeding; and (d) to the Contractor’s actual knowledge, neither the Contractor nor its personnel have been convicted of a felony. 9-14 CONFLICTS OF INTEREST
The Contractor agrees not to accept any employment or representation during the term of the Contract or within twelve (12) months after acceptance as defined in Section 3-13.2 of the General Provisions that is or may likely make the Contractor “financially interested,” as provided in Government Code Sections 1090 and 87100, in any decisions made by SVCE on any matter in connection with which the Contractor has been retained pursuant to the Contract Documents. 9-15 APPLICABLE LAW
The validity, interpretation, and performance of these Contract Documents shall be controlled by and construed under the laws of the State of California, excluding California’s choice of law rules.

Venue for any such action relating to the Contract shall be in the Superior Court with geographic jurisdiction over SVCE.
9-16 TIME
Time is of the essence in these Contract Documents.
9-17 INDEPENDENT CONTRACTOR
The Contractor and Subcontractors shall at all times remain, as to SVCE, wholly independent contractors. Neither SVCE nor any of its officials, officers, employees or agents shall have control over the conduct of the Contractor, Subcontractors, or any of their officers, employees, or agents, except as herein set forth, and the Contractor and Subcontractors are free to dispose of all portions of their time and activities that they are not obligated to devote to SVCE in such a manner and to such Persons that the Contractor or Subcontractors wish except as expressly provided in these Contract Documents. The Contractor and Subcontractors shall have no power to incur any debt, obligation, or liability on behalf of SVCE, bind SVCE in any manner, or otherwise act on behalf of SVCE as agents. The Contractor and Subcontractors shall not, at any time or in any manner, represent that they or any of their agents, servants or employees, are in any manner agents, servants or employees of SVCE. The Contractor and Subcontractors agree to pay all Item 1f
Attachment 1
GP-25
required taxes on amounts paid to them under the Contract, and to indemnify and hold SVCE harmless from any and all taxes, assessments, penalties, and interest asserted against SVCE by reason of the independent contractor relationship created by the Contract Documents. The Contractor shall include this provision in all contracts with all Subcontractors. 9-18 CONSTRUCTION
In the event of any asserted ambiguity in, or dispute regarding the interpretation of any matter herein, the interpretation of these Contract Documents shall not be resolved by any rules of interpretation providing for interpretation against the party who causes the uncertainty to exist or against the party who drafted the Contract Documents or who drafted that portion of the Contract Documents.
9-19 NON-WAIVER OF TERMS, RIGHTS AND REMEDIES
Waiver by either party of any one (1) or more of the conditions of performance under these Contract Documents shall not be a waiver of any other condition of performance under these Contract Documents. In no event shall the making by SVCE of any payment to the Contractor constitute or be construed as a waiver by SVCE of any breach of covenant, or any default that may then exist on the part of the Contractor, and the making of any such payment by SVCE shall in no way impair or prejudice any right or remedy available to SVCE with regard to such breach or default.
9-20 TERM
The Contract is effective as of the Effective Date listed, and shall remain in full force and effect until the Contractor has fully rendered the services required by the Contract Documents or the Contract has been otherwise terminated by SVCE. However, some provisions may survive the term listed within this Section, as stated in those provisions. 9-21 NOTICE
Except as otherwise required by law, any notice or other communication authorized or required by these Contract Documents shall be in writing and shall be deemed received on (a) the day of delivery if delivered by hand or overnight courier service during SVCE’s regular business hours or (b) on the third (3rd) business day following deposit in the United States mail, postage prepaid, to the addresses listed on the Contractor’s Bid and SVCE’s office, or at such other address as one party may notify the other.
9-22 SEVERABILITY
If any term or portion of these Contract Documents is held to be invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions of these Contract Documents shall continue in full force and effect.

Item 1f
Attachment 1
SP-1

SPECIAL PROVISIONS
The Sections that follow supplement, but do not replace, the corresponding provisions in Part 3 (Construction Methods) and Part 4 (Existing Improvements) of the Standard Specifications, except as otherwise indicated herein. In the event of any conflict between the Standard Specifications and these Special Provisions, these Special Provisions shall control.

SECTION 306 - OPEN TRENCH CONDUIT CONSTRUCTION
306-3.1 GENERAL
Pursuant to Public Contract Code Section 7104, if the project involves trenching more than four (4) feet deep, Contractor shall promptly and before the following conditions are disturbed notify SVCE in writing of any:
a. Material that Contractor believes may be material that is hazardous waste, as defined in California Health and Safety Code Section 25117, that is required to be removed to a Class I, Class II, or Class III disposal site in accordance with provisions of existing law; and/or b. Subsurface or latent physical conditions at the site differing from those indicated; and/or
c. Unknown physical conditions at the site of any unusual nature, different materially from those ordinarily encountered and generally recognized as inherent in work of the character provided for in the Contract.

SVCE shall promptly investigate the conditions, and if it finds that the conditions do materially so differ, or do involve hazardous waste, and cause a decrease or increase in the Contractor’s cost of, or the time required for, performance of any part of the Work shall issue a change order under the procedures described in the Contract. In the event that a dispute arises between SVCE and the Contractor whether the conditions materially differ, or involve hazardous waste, or cause a decrease or increase in the Contractor’s cost of, or time required for, performance of any part of the Work, the Contractor shall not be excused from any scheduled completion date provided for by the Contract, but shall proceed with all work to be performed under the Contract. The Contractor shall retain any and all rights provided either by contract or by law which pertain to the resolution of disputes and protests between the parties.

As required by Labor Code Section 6705 and in addition thereto, whenever work under the Contract that involves an estimated expenditure in excess of twenty-five thousand dollars ($25,000) for the excavation of any trench or trenches five (5) feet or more in depth, Contractor shall submit for acceptance by SVCE in advance of excavation, a detailed plan showing the design of shoring, bracing, sloping, or other provisions to be made for worker protection from the hazard of caving ground during the excavation of such trench or trenches. If such plan varies from the shoring system standards established by the Construction Safety Orders of the Division of Industrial Safety, the plan shall be prepared by a registered civil or structural engineer employed by Contractor, and all costs therefor shall be included in the price of the Contract. Nothing in this provision shall be deemed to allow the use of a shoring, sloping, or other protective system less effective than that required by the Construction Safety Orders. Nothing in this provision shall be construed to impose tort liability on SVCE or on any SVCE officer, agent, consultant, representative, or employee. All plans, processing and shoring costs are Contractor’s Item 1f
Attachment 1
SP-2
responsibility and must be included in Contractor’s bid.

SECTION 400 - PROTECTION AND RESTORATION
400-1 GENERAL
All costs to the Contractor for protecting, removing, restoring, relocating, repairing, replacing, or reestablishing existing improvements shall be included in the Bid.

SECTION 402 - UTILITIES
402-1 LOCATION
Except as shown in the Plans or specified in the Special Provisions, the location and existence of underground utilities or substructures has not been obtained. Subject to Gov’t Code Section 4215, the methods used and costs involved to locate existing elements, points of connection and all construction methods are the Contractor’s sole responsibility. Accuracy of information furnished, as to existing conditions, is not guaranteed by SVCE. The Contractor, at its sole expense, must make all investigations necessary to determine locations of existing elements, which may include contacting Underground Service Alert/DigAlert and other private underground locating firm(s), utilizing specialized locating equipment, hand trenching, or both. For every Dig Alert Identification Number issued by Underground Service Alert during the course of the Project, the Contractor must submit to SVCE the following form. The Contractor shall be responsible for preserving the integrity of the existing underground utilities at the site.

Item 1f
Attachment 1
SP-3

UNDERGROUND SERVICE ALERT IDENTIFICATION NUMBER FORM
No excavation will be permitted until this form is completed and returned to SVCE.

Government Code Section 4216 et seq. requires a Dig Alert Identification Number to be issued before a permit to excavate will be valid.

To obtain a Dig Alert Identification Number, call Underground Service Alert at 811 a minimum of three (3) Working Days before scheduled excavation. For best response, provide as much notice as possible up to ten (10) Working Days.

Dig Alert Identification Number: ________________________________________________ Dated:
(“CONTRACTOR”)
By:

Printed Name:

Title:

By:

Printed Name:

Title:

Note: This form is required for every Dig Alert Identification Number issued by Underground Service during the course of the Work. Additional forms may be obtained from SVCE upon request.

Item 1f
Attachment 1
SP-4
402-1.3 Entry by Utility Owners
The right is reserved to the owners of public Utilities or franchises to enter the Project site for the purpose of making repairs or changes in their property that may be necessary as a result of the Work as well as any other reason authorized by SVCE. When the Contract Documents provide for the Utility owners to alter, relocate or reconstruct a Utility, or when the Contract Documents are silent in this regard and it is determined by SVCE Engineer that the Utility owners must alter, relocate or reconstruct a Utility, the Contractor shall schedule and allow adequate time for those alterations, relocations or reconstructions by the respective Utility owners. SVCE employees and agents shall likewise have the right to enter upon the Project site at any time and for any reason or no reason at all.
402-2 PROTECTION
If Contractor damages or breaks the Utilities, it will be the Contractor’s responsibility to repair the Utility at no cost to the Utility or SVCE.
402-3 REMOVAL
Facilities encountered during the prosecution of the Work that are determined to be abandoned shall be removed by the Contractor as required for the Work, unless directed otherwise by SVCE Engineer. The remaining portion of the existing Utility which is left in place shall be accurately recorded, in elevation and plan, on the control set of Contract Drawings. 402-4 RELOCATION
The Contractor shall cooperate fully with all Utility forces of SVCE or forces of other public or private agencies engaged in the relocation, altering, or otherwise rearranging of any facilities that interfere with the progress of the Work. The Contractor shall schedule the Work so as to minimize interference with the relocation, altering, or other rearranging of facilities. 402-6 COOPERATION
The Contractor’s attention is directed to the fact that Work may be conducted at or adjacent to the site by other contractors during the performance of the Work under this Contract. The Contractor shall conduct its operations so as to cause a minimum of interference with the work of such other contractors, and shall cooperate fully with such contractors to provide continued safe access to their respective portions of the site, as required to perform work under their respective contracts. Compensation for compliance shall be included in the various items of the Work, and no additional compensation shall be allowed therefor.
402-7 NOTIFICATION
The Contractor shall notify SVCE Engineer and the owners of all Utilities and substructures not less than forty-eight (48) hours before starting construction. The following list of names and telephone numbers is intended for the convenience of the Contractor and is not guaranteed to be complete or accurate:

Agency:

Phone Number:

Contact Person:

Item 1f
Attachment 1
SP-5
Agency:

Phone Number:

Contact Person:

Agency:

Phone Number:

Contact Person:

Item 1f
Attachment 1

Page 1 of 7 ends

Staff Report – Item 1g
Item 1g: Authorize the Chief Executive Officer to Execute an Amended and Restated Agreement with IP Darden III, LLC for 91.48 MW of Solar Photovoltaic Energy and a 91.48 MW Co-located, Four-Hour Battery Energy Storage System to Extend the Term of the Original Agreement by Five Years, Reduce the Price and Increase the Lifetime Not-to-Exceed Amount to $440,000,000
From: Monica Padilla, CEO
Prepared by: Kris Van Vactor, Director of Power Resources Britta Bradshaw, Power Resource Manager
Date: 01/14/2026

RECOMMENDATION
Staff recommends that the Silicon Valley Clean Energy (SVCE) Board of Directors (“Board”) delegate authority to the Chief Executive Officer (CEO) to finalize and execute an Amended and Restated Power Purchase Agreement (PPA), and any non-substantive subsequent amendments and ancillary agreements, for co-located solar energy and battery energy storage system (BESS) with Intersect Power, LLC for IP Darden III, LLC (“Amended Agreement”), to allow for an extension of the agreement term and a reduction of the price per megawatt-hour for energy delivered from the solar resource and capacity paid for the BESS within the following parameters:
• No change to solar capacity and expected energy of 91.48 megawatt (MW) or approximately 248,000- 270,000 megawatt hours (MWh) per year of expected renewable and clean energy; • No change to BESS capacity and discharge hours of 91.48 MW or 365.92 MWh 4-hour; • 5-Year term extension from ten years to fifteen years with the same expected Commercial Operation Date (COD) of June 1, 2028 and a new term through May 31, 2043; • A 4.7% reduction in the price for solar and a 3.5% reduction in the BESS price; and • Increase in the total amount not-to-exceed (NTE) from $330,000,000 to $440,000,000 NTE for the Amended Agreement.

Execution of the Amended Agreement will help SVCE meet SVCE Board-directed clean energy targets, California’s Renewable Portfolio Standard (RPS) requirements for Portfolio Category Content One (“PCC1”) resources and clean procurement mandates, and Resource Adequacy (RA) requirements, including Mid-Term Reliability requirements for new clean capacity. The Amended Agreement is provided in substantive form (Attachment 1). Any substantive future amendments to the recommended contract shall be subject to the not-to-exceed (NTE) limit and authority set forth in Resolution 2022-08 or any subsequent authority.

BACKGROUND
In August 2024, SVCE issued a Request for Offers (RFO) for long-term clean resources. The goal of the RFO was to secure a diverse set of renewable energy and clean capacity to meet SVCE’s RPS and carbon-free objectives, while also complying with California’s RPS and clean mandates. The Darden project was selected resulting from this RFO.

As a load serving entity (LSE), SVCE is subject to clean energy and RPS targets under Senate Bill 100 (“SB 100”) which set a goal of achieving a 60% RPS by 2030 and a 100% clean energy grid by 2045 with interim Item 1g
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 1g Agenda Date: 1/14/2026

Page 2 of 7 ends

targets of 90% by 2035 and 95% by 2040 as provided for under Senate Bill 1020. Additionally, SVCE’s Board set a 100% clean energy target on an annual basis and directed staff to achieve a 75% RPS in 2030-2034 (with a 10% margin of error) as approved by the Board in the November 13, 2024 SVCE Board of Directors Meeting, Item 4.

Clean resources were also sought to meet obligations as ordered in the California Public Utilities Commission (CPUC) issuing Decisions (D.) 21-06-035 and (D.) 23-02-040—together, the Mid-term Reliability Procurement Orders (MTR Orders)—requiring CPUC-jurisdictional LSEs, such as SVCE, to procure and/or develop a collective 15,500 MW of new capacity by 2028. SVCE’s total share of the MTR Order and Supplemental MTR Order is 317 MW, which was determined based on SVCE’s load ratio share of the CPUC’s jurisdictional load in the Pacific Gas and Electric transmission access area. While SVCE has made significant progress towards meeting the Supplemental MTR order, an open position still exists.

In support of SVCE’s goals and mandates, SVCE has 26 long-term contracts for clean energy, capacity and/or reliability products totaling over $3 billion over the life of the contracts. Currently, ten resources are online and estimated to meet approximately 45% of SVCE’s retail sales in 2025 with the following RPS mix: Solar:
27%, Geothermal: 13%, Wind: 10%.

In 2030, when all resources are on-line, SVCE will have achieved an 84% RPS from long-term resources and approximately 60% of its peak capacity will be met from clean resources including paired and stand-alone storage. Tables 1 and 2 summarize the PPAs executed to date to meet RPS, resource adequacy and/or MTR requirements.

Table 1: Board Authorized Clean Energy Contracts - Online Seller Project Name Technology Genera-tion MW
Storage
MW
Storage
MWh
Term
(years)
SVCE
Board
Appro-val
1 MN8 Slate Solar + Storage 93 46.5 186 17 Oct-18
2 Ormat Casa Diablo Geothermal 7 10 Feb-20
3 Atlantica Coso Geothermal 43.8 15 Mar-20
4 Leeward Rabbitbrush Solar + Storage 40 8 20 15 Apr-20 5 NextEra Yellow Pine Solar + Storage 50 26 104 20 May-20 6 AES Mountain View Wind 33.3 20 Apr-21
7 Clearway Victory Pass Solar + Storage 100 25 100 15 May-21 8 Terra-Gen Cameron Crest Wind 77.7 15 May-21
9 AES Baldy Mesa (RA-only) Storage 0 75 300 10 Sep-22
10 Middle River
Power Hanford Thermal + BESS 99.4 131.4 131.4 12 Apr-23 Table 2: Board Authorized Clean Energy Contracts - In Development Seller Project Name Technology Genera-tion MW
Storage
MW
Storage
MWh
Term
(years)
SVCE
Board
Appro-val
Status
1 Avantus Aratina Solar + Storage 80 50 200 20 Jun-20 Construction 2 SB Energy Angela Solar + Storage 20 10 40 15 Mar-21 Construction 3 Origis San Luis West Solar + Storage 62.5 15.63 62.5 15 Apr-21 Pre-construction 4 Rev
Renewables Tumbleed Long Duration Storage 0 15.94 127.5 15 Feb-22 Construction 5 Ormat Geothermal
Portfolio Geothermal 16.75 20 Jun-22 Pre-construction
6 OME Fish Lake Geothermal 1.82 20 Jun-22 Pre-construction 8 NextEra Grace Solar 120 15 Aug-23 Pre-construction
Item 1g
Agenda Item: 1g Agenda Date: 1/14/2026

Page 3 of 7 ends

9 NextEra Yellow Pine III Storage 0 24 96 15 Aug-23 Pre-construction 10 NextEra Yellow Pine III Long Duration
Storage 0 9 72 15 Apr-25 Pre-construction
11 Pattern SunZia South Wind 70.2 15 Nov-23 Construction 12 Pattern SunZia North Wind 29.8 15 Nov-23 Construction 13 VCI Energy Garden Green
Solar Solar + Storage 50 50 200 10 Oct-24 Pre-construction 14 Pattern SunZia South
Incremental Wind 17.54 10 May-25 Construction
15 Pattern SunZia North
Incremental Wind 7.46 10 May-25 Construction
16 Intersect
Power Darden III Solar + Storage 91.48 91.48 365.9 10 Sep-25 Pre-construction SVCEs Board of Directors approved the original Darden III PPA at the August 13th board meeting (August 13, 2025 Board of Directors Meeting, Item 5). In December 2025, IP Darden III approached both 3CE and SVCE to offer a more favorable rate for an extended term. The lower rate will improve economics, reduce risk to SVCE’s portfolio, and aid in meeting compliance obligations and board directives; hence Staff’s recommendation to pursue board approval of the Amended Agreement.

ANALYSIS & DISCUSSION
IP Darden is a 1,150 MW solar and 1,150 MW storage new-build resource in Fresno County. Intersect Power ("Intersect") is the parent company and developer of IP Darden.

SVCE is among multiple off-takers of IP Darden, with a share of 91.48 MW of battery energy storage and

91.48 MW of solar energy, and approximately 248,000-270,000 MWh of PCC1 RPS energy and renewable energy certificates (RECs) annually, which will account for approximately 6% of SVCE’s retail sales and count towards annual and long-term RPS requirements.

The resource is offered at a fixed price in dollars per MWh for solar generation and dollars per kilowatt-month ($/kW-mo) for storage capacity. The original PPA has a ten-year term with an expected commercial operating date (COD) of June 1, 2028. The Amended Agreement would have a fifteen-year term. As part of the agreement to extend the contract term, IP Darden has agreed to reduce the solar rate by 4.7% and BESS rate by 3.5%, providing a significant reduction in annual cost to SVCE’s customers. The five-year extension does necessitate an increase in the agreement’s NTE of $110,000,000.

Table 3 is a summary of the key features of the Darden PPA.

Table 3: Summary of Darden Agreement
Counterparty IP Darden III, LLC
Parent Company Intersect Power, LLC
Product New build solar PV PCC1
RPS Energy and lithium-ion 4-hour battery storage
Need and/or
Compliance Obligation
SVCE’s 100% Clean
energy goal and RPS
target
SB100, SB350 and B1020
MTR Order and RA starting
in 2028
Expected Delivery
Term
15 years, June 1, 2028, through
May 31, 2043.

Item 1g
Agenda Item: 1g Agenda Date: 1/14/2026

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Contract Capacity 91.48 MW solar, 91.48 MW, 4-
hour storage (total capacity to be
contracted to SVCE at point of
interconnection is 91.48 MW)
Location Fresno County, CA
Percentage of Retail
Load Served/RPS
5-6%
RPS Compliance & Integrated Resource Plan
SB100 sets annual RPS targets starting in 2020 growing to 60% in 2030 and further sets a 100% clean energy goal by 2045. SVCE’s board-approved IRP further sets an RPS target of 75% by 2030. The Darden Agreement provides an estimated average of 260,000 MWh of RPS eligible energy, bringing SVCE’s expected RPS in 2029 to 87%.

SB350, passed in 2016, requires Load Serving Entities (LSE) such as SVCE to acquire a minimum of 65% of the state-mandated RPS requirement through long-term PPAs (10 years or greater) starting with Compliance Period No. 4 “CP4” (2021-2024). Darden is expected to come online in 2028, helping meet long-term obligations in CP6 (2028-2030). With the inclusion of Darden, SVCE’s long-term RPS is 79.4% in CP6, which is above California’s mandated long-term RPS requirement of 37%. This represents SVCE’s position assuming all contracts are operational based on the online dates specified in the PPAs and that the resources perform consistent with the generation profiles provided in the PPAs as well. Table 4 shows SVCE’s progress towards meeting its RPS and clean goals.

Table 4: Impact to SVCE RPS and Clean Energy Targets
Calendar
Year
SB 100
RPS
Target
Board
RPS Target
Expected
SB 1001
Position
(without
Darden)
SB 1001
Position
with Darden
Clean
Position
(expected,
without
Darden)
Clean
Position
with
Darden
2028 55% 57% 80% 86% 90% 96%
2029 57% 59% 81% 87% 89% 95%
2030 60% 65-75% 78% 84% 81% 87%
1 RPS figures provided in this table represent SB 100, which provides an overall RPS target. SB 350 targets are not included in the table; SB 350 applies a requirement that 65% of the SB 100 RPS target be met by long-term resources. With the inclusion of Darden, SVCE is projected to achieve an RPS position of 79.4% from long-term contracts.

Item 1g
Agenda Item: 1g Agenda Date: 1/14/2026

Page 5 of 7 ends

Mid-term Reliability Procurement Order & Resource Adequacy Capacity SVCE has made significant progress towards meeting its allocation in all tranches of procurement mandates per the MTR Order. SVCE is slightly deficient in meeting its generic 2026, 2027 and 2028 requirements, which orders the procurement of new clean energy capacity including standalone storage. The project will have Full Capacity Deliverability Status (FCDS) from the CAISO and be able to provide resource adequacy attributes to help SVCE meet its annual compliance obligation. Specifically, IP Darden will contribute approximately 78 MW of qualifying capacity, helping to meet SVCE’s obligation in 2028 and helps close SVCE’s overall obligation.

SVCE has an obligation to procure sufficient capacity to meet grid reliability as prescribed by the CPUC’s RA Program. Resources such as Darden, which pair solar and storage, provide a profile that is beneficial to SVCE’s portfolio under the state’s Slice of Day RA program.

Clean Energy and Capacity
SVCE works towards a 100% clean energy goal measured annually. This will be achieved through a mix of RPS-eligible resources, including wind, solar and geothermal combined with non-RPS eligible, but carbon-free resources such as large hydroelectricity and nuclear energy. Strategically, resources that can deliver clean energy in all hours of the day, such as geothermal, will best help SVCE balance its objectives; however, such resources are scarce. Solar plus storage, whether paired at the same site or virtually co-located, helps achieve a more sustainable grid by pushing out solar generation into later hours of the day, when demand peaks.

These types of resources are necessary to meet current retail product needs, including GreenStart, GreenPrime, and GreenPrime Direct, in addition to helping us build a pathway to 24/7 clean energy.

SVCE does not have a clean capacity goal. Currently, short-term natural gas RA-only capacity contracts account for the vast majority of SVCE’s RA portfolio. In 2024, 69% of SVCE’s requirements were from RA-only contracts. With the Darden Agreement into the portfolio, Energy Source from Solar increases by up to 6% and peak capacity from clean sources increases by 4%. Table 5 is an illustration of SVCE’s energy and capacity portfolio in 2028.

Table 5: Energy and RA Capacity Portfolio with Darden – Estimated for 2030 Estimated for 2030 Annual Energy
(GWh)
Energy Source as a
Percent of Total
Retail Sales
Capacity Source as a
Percent of Total RA
Requirement
Biomass 0 0% 0%
Geothermal 412 10% 7%
Solar with Darden 2218 51% 12%
Wind 713 16% 10%
Large Hydroelectric 915 21% 0%
Battery Storage with
Darden
0 0% 4%
Natural Gas RA-only 0 0% 52%
Hanford - Natural Gas 70 2% 14%
Total 4,328 100% 100%
Given the complementary solar and storage generation profile, the PPA helps balance clean energy throughout the day. By charging the battery when solar energy is abundant, and discharging when there are fewer clean resources generating, co-located solar and storage facilities can provide clean energy in more hours, and help reduce solar curtailment in hours when solar energy is over-abundant. Tables 6 and 7 below show SVCE’s hourly clean energy position without Darden (Table 6) and the impact of Darden in 2029 (Table 7).

Item 1g
Agenda Item: 1g Agenda Date: 1/14/2026

Page 6 of 7 ends

Table 6: Expected SVCE Hourly Clean Energy Profile in 2029 without Darden Agreement Table 7: Net Change to Expected SVCE Hourly Clean Energy Profile in 2029 with Darden Agreement PPA Project Selection Policy
On April 9, 2025, the Board adopted the PPA Project Selection Policy (“Policy”) which set evaluation criteria for new PPAs (April 9, 2025 Board of Directors Meeting, Item 5). The Darden PPA was shortlisted prior to the Board-adopted policy; however, the Agreement meets many of the Policy requirements including payment of prevailing wages.

Project Development Status
IP Darden is a new-build project in its early stage. The project has completed all permitting under the California Energy Commission (CEC) “Opt-In Certification program,” a new process offering streamlined permitting at the state-level for eligible new clean energy projects.

Impact of Federal Regulatory Uncertainty
While the solar and storage equipment will be manufactured within the U.S., the project may rely on foreign imports for project components, particularly for the battery. Potential federal tax changes, including potential tariffs on battery components, may impact the cost to Intersect Power to develop this resource. To account for this uncertainty, the contract includes a provision that allows the battery capacity price to adjust accordingly with changes to the tariffs from current levels. The maximum impact of this proposed rate adjustment is expected to fall within the total Not-To-Exceed threshold being requested herein.

Other federal tax incentives for renewable energy projects, such as the Investment Tax Credit (ITC), will also see changes under federal policy. However, Darden is expected to maintain its expected tax benefits due to its near-term construction timeline.

ALTERNATIVE
While the Amended Agreement is beneficial to meeting overall RPS goals, clean energy, and MTR goals, in a more cost effective manner, the Board may decide not to approve this amended and restated agreement and instead continue with the original agreement at a higher PPA rate.

Item 1g
Hour Ending 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Month
1 25% 25% 26% 26% 26% 26% 26% 37% 64% 72% 61% 52% 46% 29% 55% 70% 54% 42% 42% 44% 50% 40% 39% 24% 2 23% 24% 24% 24% 24% 23% 27% 48% 78% 84% 70% 63% 40% 61% 70% 87% 61% 68% 51% 43% 52% 42% 25% 22% 3 31% 32% 33% 33% 32% 32% 68% 89% 109% 114% 120% 101% 92% 67% 88% 98% 104% 59% 42% 61% 55% 65% 40% 31% 4 37% 37% 37% 37% 36% 40% 84% 113% 125% 127% 130% 111% 114% 108% 113% 120% 114% 54% 65% 79% 78% 68% 35% 36% 5 40% 40% 39% 39% 38% 56% 113% 133% 136% 118% 135% 124% 97% 98% 114% 138% 136% 100% 57% 78% 90% 75% 52% 39% 6 41% 40% 37% 37% 37% 65% 109% 132% 134 l 102% 103% 89% 64% 93% 124% 125% 119% 96% 63% 89% 92% 91% 67% 39% 7 35% 32% 30% 30% 29% 45% 82% 115% 93% 80% 67% 65% 89% 113% 112% 108% 102% 81% 63% 85% 72% 61% 51% 35% 8 30% 30% 30% 30% 30% 34% 71% 112% 94% 73% 56% 78% 86% 108% 107% 104% 96% 70% 80% 84% 73% 62% 32% 30% 9 32% 31% 31% 31% 31% 32% 60% 101% 105% 80% 73% | 48% 67% 86% 102% 97% 84% 60% 82% 76% 56% 38% 34% 33% 10 37% 32% 32% 32% 33% 41% 48% 82% 107% 95% 72% 65% 46% 77% 95% 101% 70% 43% 1 87% 58% 46% 32% 41% 38% 11 31% 29% 31% 31% 37% 54% 51% 64% 83% 72% 57% 44% 34% 54% 79% 75% 67% 53% 42% 45% 51% 48% 48% 35% 12 26% 28% 27% 28% 28% 30% 30% 42% 66% 71% 48% 43% 37% 22% 53% 59% 60% 42% 53% 47% 48% 36% 43% 26% 9 10
2%
-8%
1%
0%
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12% 14%
-10% -8%
2% 4% 1%
6% 6%
11% 13% 10% 8% 6% 5%
23 24
8%
6%
10%
12% 11%
14% 14%
11 12 13 14 15 16 17 18 19 20 21 22
-4% -5%
0% 0%
1% 2%
-5% -5% -5%
Hour Ending 12345678
-12% -1% 21%
12%
15%
18%
19%
17%
16%
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16%
15% 15% 18%
11% 11%
5% 7%
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9% 11%
-8% -9% -8%
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12%
13%
0%
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-1%
-1%
070
12%
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QQz. 070
13%
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9%
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20%
19%
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-8% 6%
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13%
1%
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-6%
-3%
-2%
-1%
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18%
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6%
2%
9%
Z7TD
15%
16%
2%
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0%
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-8% -8%
-10% -9%
3% 19% 6% 4%
0% 0% 1% 0%
16%
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-1%
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17%
17%
5%
6%
Agenda Item: 1g Agenda Date: 1/14/2026

Page 7 of 7 ends

Staff does not recommend this alternative, as the updated agreement offers significant value and reduced risk to SVCE customers.

STRATEGIC PLAN
Board approval to delegate authority to the CEO to execute the Amended Darden Agreement will enable staff to meet the current board directed clean targets and California RPS requirement, consistent with goals and objective as outlines in SVCE’s Strategic Plan, in particular, Goal #4: Acquire power supply resources in a cost-effective manner to meet legislative and regulatory obligations, Board directives and customer specific products.

FISCAL IMPACT
IP Darden is slated to come online during fiscal year 2027-2028 at which point the cost will be included in the operating budget. Execution of the Amended Agreement will result lower per fiscal year cost at that time.

ATTACHMENT

1. IP Darden III First Amendment to the PPA – redacted version Item 1g

FIRST AMENDMENT
TO

RENEWABLE POWER PURCHASE AGREEMENT
This First Amendment to Renewable Power Purchase Agreement ("First Amendment") is entered into as of the last dated signature on the signature page hereto ("First Amendment Effective Date"), by and between Silicon Valley Clean Energy Authority, a California joint powers authority, ("Buyer") and IP Darden III, LLC, a Delaware limited liability company ("Seller"). Buyer and Seller are sometimes referred to herein individually as a "Party" and collectively as the "Parties."

RECITALS
A. Seller and Buyer are parties to that certain Renewable Power Purchase Agreement dated as of October 23, 2025 (the "PP A");
B. The Parties have agreed to revise certain provisions of the PPA; and C. In connection with such revision to the PP A, the Parties desire to amend the PP A as set forth herein by executing and delivering this First Amendment.

NOW, THEREFORE, in consideration of the recitals above and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

AGREEMENT

1. Defined Terms and Phrases. The capitalized terms and phrases used in this First Amendment but not defined herein shall have the meaning stated in the PP A.

2. Amendments to PP A. Commencing on the First Amendment Effective Date, the PP A shall be amended as follows:
a. Cover Sheet - Delivery Term. The reference to a Delivery Term of"Ten (10) Contract Years" in the Cover Sheet of the PPA is hereby deleted and replaced in its entirety with "Fifteen (15) Contract Years". 1 Item 1g
Attachment 1
Item 1g
Attachment 1
b. Cover Sheet — Expected Energy. The Expected Energy table in the Cover Sheet of the PPA is hereby deleted and replaced in its entirety with the table below:
c. Cover Sheet -Guaranteed Efficiency Rate. The Guaranteed Efficiency Rate table in the Cover Sheet of the PPA is hereby deleted and replaced in its entirety with the table below:

Contract Year Guaranteed Efficiency
Rate
1 2
3 4
5 6
7 8
9 10
11 12
13 14
15 2
Item 1g
Attachment 1
d. Cover Sheet-Contract Price. The Renewable Rate and Storage Rate tables in the Cover Sheet of the PPA are hereby deleted and replaced in their entirety with the below:

The Renewable Rate shall be:

Contract Year Renewable Rate
The Storage Rate shall be:
e. Definitions -“Contract Year.” The reference to “midnight” in the definition of “Contract Year” in the PPA is hereby deleted and replaced in its entirety with “11:59 PM Pacific Prevailing Time”. 3 Item 1g
Attachment 1
a. Representations Regarding this First Amendment. Each Party represents and warrants that it is authorized to enter into this First Amendment, that this First Amendment does not conflict with any contract, lease, instrument, or other obligation to which it is a party or by which it is bound, which conflict could reasonably be expected to have a material adverse effect on the ability of such Party to perform its obligations hereunder, and that this First Amendment represents its valid and binding obligation, enforceable against it in accordance with its terms. b. No Other Amendments. Except as expressly set forth herein, this First Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Parties under the PPA. This First Amendment shall be governed in all respects by the terms of the PPA mutatis mutandis,which remains in full force and effect and unmodified except as expressly set forth herein.
c. Effectiveness of First Amendment. This First Amendment shall be effective on the First Amendment Effective Date and shall be binding upon the Parties and their respective permitted successors and assigns.
d. Entire Agreement. This First Amendment contains the complete agreement among Parties with respect to the subject matter hereof and supersedes any prior understandings, agreements or representations by or between the Parties, whether written or oral, or any prior course of dealing among them, which may have related to the subject matter hereof in any way.
e. Conforming References. Upon the effectiveness of this First Amendment, each reference in the PPA to “this Agreement,” “herein,” or words of like import shall mean and be a reference to the PPA as amended by this First Amendment. f. Counterparts. This First Amendment may be executed in one or more counterparts, each of which, when executed, shall be deemed to be an original and all of which, when taken together, shall be deemed to be one and the same instrument. Delivery of an executed counterpart of a signature page to this First Amendment by electronic means (e.g., email or PDF) will be effective as delivery of an original counterpart to this First Amendment.
[SIGNATURES ON FOLLOWING PAGE]
4 Item 1g
Attachment 1
Docusign Envelope ID: D13E6BDA-3D35-4F10-A0CB-5FAC520C0FF5 IN WITNESS WHEREOF, each of the Parties have caused this First Amendment to be duly executed as of the First Amendment Effective Date.

IP Darden III, LLC, a Delaware limited
liability company
Name: Simon Ross
Title: Chief Commercial Officer
Date: December 11, 2025
Name: Katrina Rymill
Title: Chief Financial Officer
Date: December 11 , 2025
Silicon Valley Clean Energy Authority, a
California joint powers authority
By:

Name:

Title:

Date:

Approved as to form:

By:

Name:

Title:

Date:
[Signature Page to First Amendment]

Page 1 of 1 ends

Staff Report – Item 1h
Item 1h: Receive Executive Committee Report
To: Silicon Valley Clean Energy Board of Directors
Prepared by: Sally Meadows, Executive Committee Vice Chair Date: 1/14/2026
The Executive Committee met December 5, 2025, and addressed the following: a request to support the updated Fiscal Year 2025-2026 Budget and 2026 rate changes, and received information on SVCE’s Community Grants Program development.

The Committee received a report from Monica Padilla, Chief Executive Officer, on upcoming December Board of Directors workshops, and an update from Zoe Elizabeth, Director of Decarbonization Policy and Community Strategies, on SVCE’s headquarters building plan and timeline.

Amrit Singh, Chief Financial Officer, presented a request for the Executive Committee’s recommendation that the Board of Directors approve the proposed updated Fiscal Year 2025-2026 budget. Highlights of the proposed budget included:
• Increasing the withdrawal from reserves from the adopted budget level of $40.1 million to $60.5 million after updating for revenues, power supply costs, and updated earnings forecasts; • Additional transfer of $5.5 million to the new headquarters building fund; • Setting SVCE generation rates starting in January 2026 at a 1% discount to comparable PG&E’s generation rates and issuing a monthly bill credit of $12 dollars to customers enrolled in PG&E’s California Alternate Rates for Energy (CARE) and Family Electric Rate Assistance (FERA); and • Proposed staff recommendation of a new GreenPrime rate premium of $0.0074/kWh ($7.40/MWh) effective January 2026.

Committee members discussed staff’s recommendation and provided comments and questions on the proposed rates, recommended days of cash on hand, and impacts to SVCE’s credit rating. Following a robust discussion, the Committee voted unanimously to recommend that the Board approve staff’s recommendation to approve the proposed budget and rate changes which were approved at the December Board meeting.

Jessica Cornejo, Decarbonization and Community Strategies Lead, presented an informational item on SVCE’s Community Grants Program development which included a recap of historical community grant cycles, including competitive and non-competitive grant awards to SVCE member agencies, funding allocation breakdown, an overview of eligible projects and requirements, and a review of timeline and activities.

Materials from this meeting can be found on SVCE’s website: SVCE Executive Committee Meeting, December 5, 2025
The next meeting of the Executive Committee will be held in January 2026; materials will be posted no later than 72 hours in advance of the meeting.

Item 1h
SILICON VALLEY \3/ CLEAN ENERGY

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Staff Report – Item 1i
Item 1i: Receive Additional Committees Report
To: Silicon Valley Clean Energy Board of Directors
Prepared by: Andrea Pizano, Sr. Executive Assistant and Board Clerk Date: 1/14/2026
There are no reports for the Finance and Administration Committee and the Audit Committee, as they have not met since the last report. Both committees are expected to meet in February 2026.

Materials for these meetings will be posted 72 hours in advance of the meeting dates.

Item 1i
SILICON VALLEY \3/ CLEAN ENERGY

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Staff Report – Item 1j
Item 1j: Receive California Community Power Report
To: Silicon Valley Clean Energy Board of Directors
From: Monica Padilla, CEO
Date: 1/14/2026
Per direction from the Silicon Valley Clean Energy (SVCE) Board of Directors (“Board”) on December 9, 2020 for the Chief Executive Officer 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, December 17, 2025.

Attached is a December summary report from General Manager Alex Morris; materials from the December board meeting can be found here on the CC Power website: CC Power Meeting, 12/17/25 The next meeting of the board will be January 28, 2026 at 1:00 p.m.; meeting materials can be found on the CC Power website: https://cacommunitypower.org/meetings/

ATTACHMENT

1. CA Community Power Board Meeting Summary from General Manager Alex Morris, December 17, 2025 Item 1j
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:

Ava Community Energy | Central Coast Community Energy | CleanPowerSF | Peninsula Clean Energy | Redwood Coast Energy Authority | San José Clean Energy | Silicon Valley Clean Energy | Sonoma Clean Power | Valley Clean Energy
TO: Board of Directors and Alternates DATE: 1/5/26
FROM: Alex Morris – General Manager
SUBJECT: Report on Regular Board of Directors Meeting – December 17, 2025 The California Community Power (CC Power) Board of Directors held a meeting on December 17, 2025, via Zoom. Details on the Board packet, presentation materials, and public comment letters can be found under the Meetings tab at the CC Power website: Meetings and Agendas – ca community power
Highlights of the meeting included the following:
• Matters subsequent to posting the Agenda. None.
• Public Comment. None.
• Consent Agenda - The Board approved the following items:
o Minutes of the Regular Board Meeting held on November 19, 2025 o Waiver of 60-day Member Notice (CC Power JPA Agreement Section 6.02) for Board Consideration of Hydrostor Willow Rock Contract in January 2026 • Regular Agenda Items:
o Resolution 25-12-01 – Approving and Adopting the CC Power 2026-2030 Strategic Priorities: The Board unanimously adopted four 2026-2030 strategic priorities for CC Power. These priorities will be implemented in 2026 and through annual work-planning and budget cycles. These priorities are deemed complimentary to members and align with the value propositions contemplated for CC Power. The priories are to:
▪ Successfully administer existing energy and power contracts; ▪ Procure and manage contracts for specific cases of wholesale power resources;
▪ Assess and procure emerging, higher risk, and unusual technologies or projects; and
▪ Lead member-CCA power asset ownership efforts.

These priorities will be incorporated into an updated CC Power 2026-2030 Strategic Plan and considered by the Board.
o Resolution 25-12-02 – Approval of Bulk Buy of Power Price Forecast and Reports: The Board approved a ‘bulk-buy’ of a power price forecast and informational reports from Wood Mackenzie. Eight members are participating in this bulk-buy, yielding a notional savings per member of approximately $100,000.

Item 1j
Attachment 1
2 CC Power also uses any forecasts and reports to further support and augment its analytical and project valuation efforts. This spending was planned in the budget, and the execution of the contract requires member-participation confirmations and Board approval.
o Resolution 25-12-03 – Approval of Tenaska Power Services for Scheduling Coordinator Services for Tumbleweed Energy Storage Project: The Board authorized execution of the proposed contract with Tenaska Power Services (TPS), with a three-year notional value of $275,000. These costs will be recovered from the Tumbleweed Energy Storage Project participants and were anticipated in the 2025- 2026 budget. Members solicited for these services and selected TPS, from amongst eight competing offers, based on their offering and capabilities as a well-established scheduling coordinator. The agreement with TPS was reviewed by members’ staff through the Tumbleweed Operations Advisory Subcommittee (OAC). o Resolution 25-12-04 – Approval of First Amendment to Master Services Agreement with Ascend Analytics LLC and Work Order for SmartBidder for Tumbleweed Energy Storage Project: The Board authorized execution of an contract amendment and work-order with Ascend Analytics to procure and use Ascend’s ‘SmartBidder’ service for formulating bids for the Tumbleweed Energy Storage Project. The Tumbleweed project will be one of the first 8-hour lithium-ion energy storage projects online in California, and bid-strategies for such a resource can be complex and have material implications. The notional value of the three-year contract is $245,484. These costs will be recovered from the Tumbleweed Energy Storage Project participants and were anticipated in the 2025-2026 budget. Ascend was selected through a competitive solicitation process based on its offer and experience and expertise. The agreement with Ascend was reviewed by members’ staff through the Tumbleweed Operations Advisory Subcommittee (OAC). o 2026 Officer’s Election Update: Chair Lori Mitchell (SJCE) briefed the Board on the upcoming January 2026 elections for new CC Power Officers. Officer roles include Chair, Vice-Chair, Treasurer, and Secretary.
o General Manager Report:
▪ Solicitation for Power Projects – CC Power received 162 offers to the recent Request for Proposals. CC Power will work with members to short-list projects and to explore interest in joint-procurement for such projects. This work was authorized as part of the 2025-2026 budget and helps members assess an array of power project opportunities, including for ITC/PTC eligible solar or wind, standalone storage, geothermal, hydroelectric, biomass, build-transfer projects that CCAs could own, and or emerging technologies.
▪ Geothermal Education Session on January 9th – Members and CC Power will host a virtual education session on geothermal development matters, with a focus on California, in order to further inform members about timelines, challenges, and contractual approaches for geothermal projects agreements.

This education session is designed to inform any future consideration of Geothermal Collaboration Agreements that CC Power is negotiating as part of the Geothermal Strategic Origination Phase 2a. Presenting members will include CleanPowerSF and Sonoma Clean Power.

Item 1j
Attachment 1
3 ▪ Work-Planning and other activities planned for Q1-Q2 2026 – In 2026, CC Power will again meet with members to inform work-planning, budgeting, and finalization of the revised strategic plan. Through member meetings, including meetings with Board members as well as with members’ Procurement Directors or staff, CC Power will develop draft work-plans that align with the recently adopted 2026-2030 Strategic Priorities. In early 2026, CC Power will also bring select project agreements to the Board for consideration.

Item 1j
Attachment 1

Page 1 of 7 ends

Staff Report – Item 2
Item 2: CEO Report
To: Silicon Valley Clean Energy Board of Directors
Prepared by: Monica Padilla, CEO
Date: 1/14/2026
REPORT
Staff Updates
Blake VandeVelde joined SVCE December 8, 2025 as Manager of Information Technology (IT). Blake has over 20 years of IT experience working at companies like DocuSign, DRIVE.AI and COHERENT and brings a strong technology background to the SVCE team.

Personnel Officer Update
SVCE lost two staff members Gia Ilole, Director of Human Resources, and Nalini Pillay, Deputy Board Clerk/Administrative Assistant. Staff will start the process to fill the two positions as soon as practical.

Marlena Lopez, formerly SVCE’s Human Resources (HR) Administrative Assistant, has been promoted to HR Operations Manager. Marlena has taken on more responsibilities and demonstrated her effectiveness in carrying out many of SVCE’s HR duties.

To ensure continuity and the necessary support for SVCE staff, the HR function will move under the direction of Nik Zanotto, Director of Operations.

An updated organization chart is provided as Attachment 1.

On December 11, 2025, the SVCE leadership team recognized key staff at an awards banquet for their contributions and demonstration of SVCE’s core values which includes effectiveness, continuous learning, collaboration, stakeholder service (internal and external) and all-around superstar. The award recipients were based on peer nominations. The 2025 award winners include:

Marlena Lopez, for Effectiveness
Jessica Cornejo, for Continuous Learning
Citlalli Sandoval, for Collaboration
Colleen McCamy, for Stakeholder Service – internal
Peyton Parks, for Stakeholder Service – external
Leanna Huynh, for All-Around Superstar
Power Resources & Clean Energy Update
2026 looks to be an exciting year for SVCE with several projects under power purchase agreements (PPAs) slated to come online including: 1) Angela, a 20 MW solar with 10MW storage project, is looking to start in May, 2) Aratina, 80 MW solar with 50MW storage, is scheduled for June, and 3) SunZia, 125 MW wind, should begin delivery in November 2026. Staff will keep the Board posted on upcoming ribbon cutting events.

In terms of overall clean, SVCE is expected to finish 2025 with 105% overall clean position consistent with Board-approved targets, while 2026 looks similar with expected deliveries setting the portfolio at around 105%.

Item 2

AMENDED
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 2 Agenda Date: 1/14/2026

Page 2 of 7 ends

In December, SVCE executed agreements with PG&E to receive allocations of carbon-free resources (hydro and nuclear). SVCE has the opportunity to receive this carbon-free energy at no premium for resources covered by the Power Charge Indifference Adjustment ("PCIA") on customer bills. These resources help SVCE meet its clean targets.

Budget and Financial Outlook Update
Treasurer’s Report: The Board packet includes the Treasurer’s report, which shows a projected ending Net Position as of November 30, 2025, of $522.6 million, an increase of $7.3 million from the prior month.

Financial Levers: Staff is finalizing notes and findings from the Special Board Meeting/Workshop held on December 12, 2025 to discuss financial levers and SVCE’s value proposition. In February, staff intends to return to the Finance and Administration Committee and to the Executive Committee followed by the Board with additional analyses and updates in March 2026.

PG&E’s Base Service Charge and New Rates
Starting this month, residential customers will begin to receive notifications from PG&E about the introduction of the Base Service Charge, which will take effect on bills in March 2026. This was formerly known as the Income Graduated Fixed Charge. The Base Service Charge is not a new fee; instead, it is made up of costs currently billed through volumetric transmission and distribution (“T&D”) rates on the PG&E side of customer bills. These are costs associated with infrastructure, maintenance, energy programs, PG&E call center services and billing. The introduction of the Base Service Charge recategorizes these costs into a flat fee instead of the current volumetric fee. Most residential customers will see a monthly Base Service Charge of $24. Customers enrolled in CARE will see a $6 monthly charge and FERA customers will receive a $12 charge. Updates will be made to the SVCE website to reflect this billing change and educate customers.

SVCE received PG&E electric generation rates for 2026 and staff are working to finalize and implement the rates in the SVCE billing system. The rates have come in as expected, with a 2340% decrease oin the generation rate, inclusive of the PCIA, for SVCE customers. When combined with PG&E's rate increase of 75% on the transmission and distribution charges, customers are expected to see a 46% decrease overall on monthly bills. The new rates, bill comparisons and a press release will be issued the week of January 12.

Customer Success Department Updates
Enhancing Customer Savings with Automated Increases to Electric Baseline Allowance SVCE has worked out an arrangement with PG&E to update electric baseline allowances automatically for customers who are installing heat pump HVAC systems through SVCE’s programs. A baseline allowance determines the amount of energy that customers receive at the lowest price. Updating the electric baseline allowance for customer homes with new heat pumps is crucial, as standard electric allowances often don't match new (higher) usage, leading to higher costs in more expensive tiers.

Previously, customers had to call PG&E directly to request this update, which was a confusing and burdensome process. SVCE and PG&E have now retroactively updated baseline allowances for 1,700 customers who have previously installed a heat pump HVAC system through an SVCE program. And starting in 2026, customers who install a heat pump HVAC through an SVCE rebate or direct installation program will have their baselines updated automatically, removing a key friction point and directly enabling maximum savings. This is a key change that helps offset customer concerns regarding high operational costs of electrification.

Billing Update
New Rate Comparison Tool - In late December, SVCE soft-launched a new digital Rate Comparison Tool. This educational tool is designed to help customers compare rate options and explore how electrification can help them save on their electricity bill. The tool can be accessed on the SVCE website www.ehub.svcleanenergy.org/rates.

Item 2

AMENDED
Agenda Item: 2 Agenda Date: 1/14/2026

Page 3 of 7 ends

Press and Media
Media Mentions
• Trump administration sues Morgan Hill, Petaluma over natural gas bans, The Mercury News, 01-05-26 • Beyond the EV: How Integrated DERs are Defining the Future of Energy Flexibility Globally, ev.energy, 12-17-25
• Los Altos OKs awaited electrification rebate program for residents, Los Altos Town Crier, 12-16-25 • Equitably Transitioning to Clean Water Heating in the Bay Area: State of Play for 2026, SPUR, 12-15- 25 • California Authority to Sell $950 Million of Green Bonds to Prepurchase Power, MarketScreener, 12-02- 25 • Sam Wevers, director of product for Lunar Energy, on using AI to optimize residential battery and solar power systems, Forbes Climate Newsletter, 11-24-25 • Sunnyvale awarded $1.1M grant for clean energy initiatives, Easy Bay Times, 11-23-25 • Divided MCE board creates finance committee, Marin Independent Journal, 11-22-25 • Anticipating Campbell Library reopening like a suspense novel, delayed to early next year, San Jose Spotlight, 11-22-2025
• The Blueprint for Mass-Market EV Load Management Participation, ev.energy, 11-20-25 Recent & Upcoming Events
No events upcoming in January 2026
On December 6, 2025, the Campbell Chamber of Commerce held its annual Carol of Lights event—this year, featuring an opportunity for families to take pictures with Santa in the SVCE Dream Home. Hundreds of attendees visited the Dream Home and experienced holiday festivities in addition to the benefits of all-electric living. The photos below feature the Dream Home seasonal decorations and SVCE staff with the Campbell Chamber event coordinator.

Regulatory & Legislative Update
Item 2

AMENDED
Agenda Item: 2 Agenda Date: 1/14/2026

Page 4 of 7 ends

Regulatory:

At the federal level, the Federal Energy Regulatory Commission (FERC) released an Advanced Notice of Proposed Rulemaking on large loads interconnecting to the transmission system. The potential rulemaking explores federal preemption of interconnection for large loads with the goal of fast-tracking interconnection for certain large loads.

FERC received comments from more than 160 organizations about the proposed rulemaking, which some tech companies supporting efforts to incentivize co-locating data centers and power plants and others like the National Association of Regulatory Utilities urging caution on federal preemption.

Provider of Last Resort: On December 12, 2025, the CPUC issued a Phase 2 Proposed Decision, adopting guidelines for any future application of a non-IOU entity seeking POLR status. Because no non-IOU currently wants to become POLR, the PD will close the proceeding, but should a non-IOU want to apply to become POLR, the PD provides guidelines for that application.

PCIA: On December 1, 2025, CalCCA filed a Petition for Writ of Review with the California Court of Appeal, Third District, challenging the CPUC's Phase 1 decision that retroactively changed the methodology used to calculate the Power Charge Indifference Adjustment (PCIA). Key arguments are that the retroactive application constitutes general ratemaking, and that the decision was not based on substantial evidence.

Legislative:

The state legislature reconvenes on January 5, 2026, for the start of the second year of the two-year legislative session. On January 10, 2026, the Governor will release his January Budget proposal, which kicks off the budget setting process at the state legislature. The state legislature has until June 15, 2026, to adopt the final budget.

The Legislative Analyst's Office is projecting a $18 billion budget deficit for the state next fiscal year.

Congress is debating potential reforms to streamline permitting of energy projects. The House is expected to pass H.R. 4776, the SPEED Act, which streamlines the National Environmental Protection Act (NEPA) for energy projects. The Senate is expected to broaden the conversation to other permit streamlining measures.

Local Policy Updates
Local Energy Code Enhancements
The building code cycle is complete. However, member agencies that did not adopt a local code enhancement alongside the state building code can do so at any time. SVCE staff will continue to provide technical support as needed. In addition, SVCE staff is working to support permit modernization, outreach, and education efforts in all 13 jurisdictions for other initiatives that support cost-effective electrification.

On January 5, the Trump Administration filed a lawsuit against Morgan Hill and Petaluma related to their all-electric new construction ordinances (complaint here). The lawsuit focuses on local ordinances that the jurisdictions passed in 2019 (Morgan Hill) and 2021 (Petaluma). The Morgan Hill City Attorney Donald Larkin reported to the San Jose Mercury News on January 6th that “since the court’s decision on Berkeley’s ordinance, [Morgan Hill] has approved projects that include gas infrastructure. Further Larkin stated, “While we are still reviewing the complaint, this lawsuit appears to be an unnecessary effort to require the City to follow laws with which the City is already in compliance.”
While Morgan Hill's ordinance is structured differently from the most recent model codes SVCE and PCE have worked with member communities to adopt, SVCE will monitor the lawsuit and SVCE staff is available to answer questions and can also connect any interested City Attorneys to SVCE’s on-call Special Counsel with expertise on these topics.

New SVCE Headquarters
Staff continues to make progress on the development of the new SVCE Headquarters. Item 1f on the Consent Calendar of this evening’s meeting is a contract for the construction of the office and Board chamber. This contract was selected after a detailed competitive process described in the staff report for the item. SVCE continues to move through the permitting process with the City of Sunnyvale. Under Sunnyvale rules, the Item 2

AMENDED
Agenda Item: 2 Agenda Date: 1/14/2026

Page 5 of 7 ends

inclusion of the Board chamber constitutes a change of use for the property and required a zoning administrative hearing. The change of use was approved in a hearing on December 10th. SVCE anticipates one additional set of comments from Sunnyvale staff that will require minor amendments to the construction plans.

The project is currently on schedule to complete construction in time for a July 1st move in date. If the permit faces further delays, the timeline may be extended.

Look Ahead Update
Staff continues to plan for Board and committee meetings into the new year. Below is a preview of what’s ahead for the Board from February through April 2026:

ATTACHMENTS

1. SVCE Organization Chart

2. SVCE Clean Power Update, January 2026

3. Regulatory and Legislative Update, January 2026
Item 2

AMENDED
Agenda Look Ahead: February - April 2026
February March April
11th: BOD Meeting
• 2026 Committee Selections- Action
• Receive Update on Communications and
Marketing Strategy -Informational
• Programs Impact Summary -Informational
• Policy Amendments - Action
11th: BOD Meeting
• Adopt Resolution Approving the Mid¬
Year 2025-26 Adjusted Operating
Budget-Action
• Receive Audited Financial Statements-Action
• Power Charge Indifference Adjustment
Primer -Discussion
• SVCE Decarbonization Roadmap
Update -Discussion
• SVCE Financial Levers Update -
Discussion
8 ,
h: BOD Meeting
• Integrated Resource Plan Preview -
Discussion
• New Headquarters Update -Discussion
• Approve Power Purchase Agreement -
Action
*Please note the items on this schedule may change
depending on priorities
Agenda Item: 2 Agenda Date: 1/14/2026

Page 6 of 7 ends

Exhibit 1 - CEO Agreements Executed Under Delegated Authority The following agreements have been executed by the CEO or their delegate, consistent with the authority delegated by the Board:

Type Consultant Description Compensation Term Authority Agreement Town of Monte
Sereno
Member Agency
Grant Program
NTE - $144,982 12/1/2025 –
12/31/2028
Board
Approved
(3/2025)
Amendment Bluepoint
Planning
Building
Electrification
Engagement
Services
Increased NTE -
$210,000
No Change CEO Spending
Authority
Agreement Beth Sussman
Consulting
Leadership
Development
Support, Training
and Coaching
NTE - $90,000 1/1/2026 –
12/31/2026
CEO Spending
Authority
Agreement Craftsman
Technology
Group
Salesforce
Consulting
NTE - $48,000 1/1/2026 –
12/31/2026
CEO Spending
Authority
Amendment Municipal
Resource Group
Organizational
Team Training
Services
NTE - $60,250 1/1/2026-
12/31/2026
CEO Spending
Authority
Amendment Richard Heath
and Associates
Technical
Electrification
Advising Services
No new NTE Extends
term to
12/31/2026
CEO Spending
Authority
Agreement Orion Security Security Patrol –
New Headquarters
NTE - $9,888 1/1/2026 -
12/31/2026
CEO Spending
Authority
Amendment Rueben Veek Technical
Electrification
Advising Services
No Change Extends
term to
12/31/2026
CEO Spending
Authority
Amendment Sorren CPAS PC Financial Audit
Services
No Change No Change Board
Approved
(11/12/2025)
Agreement Dinsmore
Landscape
Company
Landscape
Services - New
Headquarters
NTE - $7,200 1/1/2026 -
12/31/2026
CEO Spending
Authority
Agreement Accel Air Systems HVAC
Maintenance –
New Headquarters
NTE - $1,179.36 1/1/2026 -
12/31/2026
CEO Spending
Authority
Agreement Crane Pest
Control
Pest Control
Services – New
Headquarters
NTE - $2,340 1/1/2026 -
12/31/2026
CEO Spending
Authority
Agreement City of Cupertino Member Agency
Grant Program
NTE - $225,230 12/17/2025
12/31/2028
Board
Approved
(3/2025)
Item 2

AMENDED

Page 7 of 7 ends

Exhibit 2 - CEO Power Supply Agreements Executed Under Delegated Authority Counterparty Name Execution/Effective Date Transaction Type Product Start Date End Date Notional
Value
Pacific Gas and Electric
Company
12/18/2025 Purchase
Carbon Free Energy
(Allocation)
1/1/2026 12/31/2026 $0.00
Item 2

AMENDED

SILICON VALLEY

CLEAN ENERGY
Chief Executive Officer
(CEO)
Chief Financial Officer
(CFO)
Manager of Finance
Administrative Analyst Associate Finance, Risk, and Data Analyst Director of Risk Management and Analytics
Senior Finance and Data Analyst Senior Financial Analyst Senior Quantitative Analyst Senior Quantitative Analyst Data Engineer Manager of Data and Analytics Data Scientist Senior Data Engineer
Director of Power Resources
Deputy Director of Power Resources
Compliance Manager Power Analyst Wholesale Energy Market Planner Power Supply Program Manager Rotational Power Analyst Power Resources Manager Trading Planner Associate Power Analyst Power Resources Manager Trading Planner Associate Power Analyst
Contracts and Settlements Manager
Power Settlements Planner Power Settlements Analyst
Director of Customer Success
Decarb Investments Lead Manager of Decarbonization Programs Programs Lead Programs Lead
Electric Project Cost Analyst Intern
Programs Lead Senior Programs Specialist
Deputy Director of Marketing and Communications
Community Outreach Specialist
Community Outreach Fellow
Communications Manager
Communication Specialists
Program Marketing Manager Marketing Manager
Senior Marketing Specialist
Programs Marketing Fellow
Senior Marketing Specialist
Energy Services Manager
Communications Consultant Demand Flexability Manager
Energy Services Manager
Energy Services Specialist Energy Services Specialist Senior Energy Services Specialist Internal Operations Program Manager
Director of Regulatory, Policy and Planning
Senior Regulatory Analyst and Associate General CounselPrincipal Regulatory AdvisorPower Resources PlannerSenior Forcasting and Planning Analyst Director of Government Affairs and Legislative AffairsDirector of Decarbonization Policy and Community Strategies Senior Manager of Public Sector ServicesDecarbonization and Community Strategies LeadDecarbonization & Communities Strategies Lead Community Grants Fellow
Manager of Technical Decarbonization Strategy
General Counsel Senior Boark Clerk/Executive Assistant
Deputy Board Clerk/Administrative Assistant
Director of Operations
Information Security Manager Projects Coordinator Human Resources Operations Manager Manager of Information and Technology
IT Support Speciliast
Director of Human Resources
Climate Corp Fellow
Independent Consultants
Vacant
Interns
Part-Time
Full-Time
New
Item 2
Attachment 1
• Subtitle
New SV Clean Energy
PowerPoint Template
CEO Report
Clean Power Update
SVCE Board Meeting
January 14, 2026
Item 2
Attachment 2
Clean Power Update, January 2026

SILICON VALLEY

CLEAN ENERGY
2 California’s Clean Energy Goals
SVCE’s
procurement
targets are
primarily driven
by regulatory
requirements
and Board goals
• 60% Renewable Energy by 2030 SB100 • 100% Carbon Free by 2045 • 65% of Renewable Energy must be from Long-Term SB350 (10yr or more) contracts • Mid-Term Reliability
• Established by the CPUC to focus on securing
sufficient online resources to meet expected demand
in the coming few years
MTR
• 100% Clean – annually, with line losses
• 75% Renewable by 2030
• 100% Renewable by 2035 (adopted late 2024)
SVCE
BOD
Item 2
Attachment 2
Clean Power Update, January 2026
3 SVCE is On Track to Meet SB100 and Agency Goals
for Clean and RPS…
Item 2
Attachment 2
Clean Power Update, January 2026
Clean Volumes (MWhs)
3M
79%
75%
2'7
2025 2026 2027 2028 2029 2030
Compliance Year
•
RPS Volumes GHG Free Volumes ®SVCE RPS Position ®SVCE Clean Position •SB100 Target ®SVCE Clean Target 80%
76%
120%
100%
80%
60%
40%
20%
0%
Percent of Retail Load
4 And Making Significant Progress Toward Meeting
Long-Term RPS Targets
SB350 is a multi-year compliance
period obligation,
which has interim
annual targets
9%
7%
1%
3%
3%
5%
4%
8%
5% 45%
31%
% of Retail Sales
CY 2025 Expected Long-Term RPS
• Currently in Compliance Period 5: 2025-2027
Item 2
Attachment 2
Clean Power Update, January 2026
Long-Term Power Purchase Agreements
• $4.1B+ in commitments
• 26 PPAs signed
• 23 new build projects
• 1,000+ MW of Renewable Power
• 2,000+ MWh of Battery Storage
10 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
• Hanford BESS – August 2025
Item 2
Attachment 2
Clean Power Update, January 2026
Long-Term Contracts: Online
Victory Pass Solar + Storage
Casa Diablo Geothermal
Seller Project Name Technology Generation MW Storage MW Storage MWh Term
(years)
SVCE Board
Approval
1 MN8 Slate Solar + Storage 93 46.5 186 17 Oct-18
2 Ormat Casa Diablo Geothermal 7 10 Feb-20
3 Atlantica Coso Geothermal 43.8 15 Mar-20
4 Leeward Rabbitbrush Solar + Storage 40 8 20 15 Apr-20 5 NextEra Yellow Pine Solar + Storage 50 26 104 20 May-20 6 AES Mountain View Wind 33.3 20 Apr-21
7 Clearway Victory Pass Solar + Storage 100 25 100 15 May-21 8 Terra-Gen Cameron Crest Wind 77.7 15 May-21
9 AES Baldy Mesa (RA-only) Storage 0 75 300 10 Sep-22
10 Middle River
Power Hanford Thermal + BESS 99.4 131.4 131.4 12 Apr-23 Item 2
Attachment 2
Clean Power Update, January 2026
Long-Term Contracts: In Development
SunZia Wind & Transmission
Seller Project Name Technology
Generation
MW Storage MW Storage MWh
Term
(years)
SVCE Board
Approval Status
1 Avantus Aratina Solar + Storage 80 50 200 20 Jun-20 Construction 2 SB Energy Angela Solar + Storage 20 10 40 15 Mar-21 Construction 3 Origis San Luis West Solar + Storage 62.5 15.625 62.5 15 Apr-21 Pre-construction 4 Rev
Renewables Tumbleed
Long Duration
Storage 0 15.9375 127.5 15 Feb-22 Construction
5 Ormat
Geothermal
Portfolio Geothermal 16.75 20 Jun-22 Pre-construction
6 OME Fish Lake Geothermal 1.82 20 Jun-22 Pre-construction 8 NextEra Grace Solar 120 15 Aug-23 Pre-construction
9 NextEra Yellow Pine III Storage 0 24 96 15 Aug-23 Pre-construction 10 NextEra Yellow Pine III
Long Duration
Storage 0 9 72 15 Apr-25 Pre-construction
11 Pattern SunZia South Wind 70.2 15 Nov-23 Construction 12 Pattern SunZia North Wind 29.8 15 Nov-23 Construction 13 VCI Energy
Garden Green
Solar Solar + Storage 50 50 200 10 Oct-24 Pre-construction 14 Pattern
SunZia South
Incremental Wind 17.54 10 May-25 Construction
15 Pattern
SunZia North
Incremental Wind 7.46 10 May-25 Construction
16 Intersect
Power Darden III Solar + Storage 91.48 91.48 365.92 10 Sep-25 Pre-construction Item 2
Attachment 2
Clean Power Update, January 2026
Clean Energy Resources Online Progress
as of December 24, 2025
2025 • San Luis West Solar + Storage: Pre-construction - delayed • Angela Solar + Storage: Construction mode
• Tumbleweed LDS: Construction mode
• Aratina Solar + Storage: Construction mode
• SunZia N/S Wind and Incremental N/S Wind: Construction mode 2026
• Fish Lake Geothermal: Pre-construction
• Grace Solar: Pre-construction
• Ormat Geothermal Portfolio: Pre-construction
2027
• Yellow Pine III Storage: Pre-construction
• Yellow Pine III LDS: Pre-construction
• Darden: Pre-construction
• Garden Green Solar: Pre-construction
2028+
Item 2
Attachment 2
Clean Power Update, January 2026
THANK YOU!
9 Item 2
Attachment 2
Clean Power Update, January 2026
1 • Subtitle
New SV Clean Energy
PowerPoint Template
SVCE Legislative and
Regulatory Update
January 14, 2026
Item 2
Attachment 3
SVCE Leg and Reg Update, January 2026
2 Policy Updates
Regulatory Update:

1. Provider of Last Resort

2. Power Charge Indifference Adjustment
Legislative Update:

1. State Legislation

2. 2026 Legislative Calendar
Item 2
Attachment 3
SVCE Leg and Reg Update, January 2026
CD Policy Updates

2. Power Charge Indifference Adjustment
Regulatory Update

1. Provider of Last Resort
Legislative Update

1. State Legislation

2. 2026 Legislative Calendar
2 3
Regulatory
Update
3 Item 2
Attachment 3
SVCE Leg and Reg Update, January 2026
Regulatory
Update
4 Key Regulatory Activities
Activity Purpose Status
R.21-03-011 Provider
of Last Resort
Order Instituting
Rulemaking to Implement
Senate Bill 520 and
Address Other Matters
Related to Provider of
Last Resort.

On December 12, 2025, the CPUC issued a Phase 2 Proposed Decision, adopting guidelines for any future application of a non-IOU entity seeking POLR status. Because no non-IOU has indicated interest in become POLR, the PD will close the proceeding, but should a non-IOU want to apply to become POLR in the future, the PD provides guidelines for that application.

R.25-02-005 Power
Charge Indifference
Adjustment
Order Instituting
Rulemaking to Update
and Reform Energy
Resource Recovery
Account and Power
Charge Indifference
Adjustment Policies and
Processes
On December 1, 2025, CalCCA filed a Petition for Writ of Review with the California Court of Appeal, Third District, challenging the CPUC's Phase 1 decision that retroactively changed the methodology used to calculate the Power Charge Indifference Adjustment (PCIA).

Item 2
Attachment 3
SVCE Leg and Reg Update, January 2026
4 5
Legislative Update
Item 2
Attachment 3
SVCE Leg and Reg Update, January 2026
6 • January 5 – Legislature Reconvenes
• January 31 – Last day for each house to pass bills introduced in that house in 2025 • February 20 – Last day for bills to be introduced
• April 24 – Last day for policy committees to hear fiscal bills • May 15 – Last day for fiscal committees to hear bills introduced in that house • May 29 – Last day for each house to pass bills introduced in that house • June 15 – Budget bill must pass by midnight
• July 2 – Last day for policy committees to vote on bills • August 14 – 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
• November 3 – Statewide General Election
Key 2026 State Legislative Milestones
Item 2
Attachment 3
SVCE Leg and Reg Update, January 2026
1 Key 2026 State Legislative Milestones
January 5 -Legislature Reconvenes
January 31-Last day for each house to pass bills introduced in that house in 2025 February 20 - Last day for bills to be introduced
April 24 - Last day for policy committees to hear fiscal bills May 15 - Last day for fiscal committees to hear bills introduced in that house May 29 -Last day for each house to pass bills introduced in that house June 15 -Budget bill must pass by midnight
July 2 - Last day for policy committees to vote on bills August 14 - 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
November 3 -Statewide General Election
6

Page 1 of 2 ends

Staff Report – Item 3
Item 3: Elect SVCE Board Officers for 2026
From: Larry Klein, Vice Chair
Prepared by: Andrea Pizano, Sr. Executive Assistant and Board Clerk Date: 1/14/2026

RECOMMENDATION
Staff recommends that the Silicon Valley Clean Energy (SVCE) Board of Directors (Board) elect SVCE Board Officers (Board Chair, Board Vice Chair, and Executive Committee) to serve for 2026. The Nominating Committee recommends the following slate of Board Officers, which includes Board Chair, Vice Chair and the Executive Committee for 2026:

Board Chair and Board Vice Chair
• Current Vice Chair Larry Klein to serve as Chair of the Board; and • Director Sally Meadows to serve as Vice Chair of the Board Executive Committee Members
• Elliot Scozzola, Campbell
• Sally Meadows, Los Altos
• George Tyson, Los Altos Hills
• Yvonne Martinez Beltran, Morgan Hill
• Pat Showalter, Mountain View
• Larry Klein, Sunnyvale

BACKGROUND
Section 4.11.1 of the SVCEA Joint Powers Agreement (Agreement) specifies that the Directors shall select, from among themselves, a Chair who shall be the presiding officer of all board meetings, and a Vice Chair, who shall serve in the absence of the Chair. The Agreement also specifies that the term of office continues for one year and there is no limit on the number of terms held by either position. The duties of the Executive Committee will continue to be to review and provide advice to the Chief Executive Officer and the entire Board on policy, operational and organizational matters and perform such other responsibilities, tasks or activities as delegated to it by the Board; this term is also for one year.

With amendments to SVCE’s Operating Rules and Regulations in October 2025, changes were made to the selection process to include an Ad-hoc Nominating Committee, selected by the Vice Chair, to recommend appointments for the Board Chair, Vice Chair, and Executive Committee. Additional changes to the Operating Rules and Regulations also included an automatic seat for the newly appointed Chair and Vice Chair to the Executive Committee. The Nominating Committee is comprised of Vice Chair Larry Klein, Director Eliott Scozzola, and Director Pat Showalter.

The process and timeline for the selection of the Chair, Vice Chair and the Executive Committee included the following:

Item 3
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 3 Agenda Date: 1/14/2026

Page 2 of 2 ends

Silicon Valley Clean Energy Board of DirectorsJanuary 14, 2026

Silicon Valley Clean Energy Board of Directors
January 14, 2026