• Subtitle
New SV Clean Energy
PowerPoint Template
Authorize the Chief Executive Officer to Amend
Existing Power Purchase Agreement with Coso
Geothermal Power Holdings, LLC and Modify
Authorization for Fish Lake Geothermal, LLC for
Geothermal Energy
Board of Directors
May 15, 2026
Item 4
PRESENTATION
Staff recommends that the Silicon Valley Clean Energy (SVCE) Board of Directors (Board) delegate authority to the Chief Executive Officer (CEO) to make changes to the quantity and dollar authority for two existing geothermal agreements as follows:
1. Coso Geothermal Power Holdings, LLC
a) Finalize negotiations and execute Amended and Restated Renewable PPA between SVCE and Coso
b) Delivery term extended by 5 years for a new total term of 20 years with an end date of 12/31/2041
c) Increase contract capacity by a minimum of 2.5 MW and maximum of
5.5 MW, for a new expected quantity of 31.32 MW starting January 1, 2028; and
d) Increase the spending authority by $121,246,000 for a new not-to-exceed amount of $452,000,000
2. Fish Lake Geothermal, LLC, via CC Power
a) Increase the contract capacity quantity by 1.19 MW for a new maximum of 3.47 MW; and
b) Increase the spending authority by $25,000,000 for a new not-to-exceed amount of $55,000,000 Recommendation
2 Item 4
PRESENTATION
SVCE is in
advanced
discussions to
extend and
expand PPA with
Coso
Geothermal
facility
3 • Start: Jan 1, 2022 through 2036 Term • 15 years
• 130 MW geothermal project in Inyo
County, CA Facility • Originally operational in 1980s
Pricing • Fixed price w/escalator
Need • Renewable Energy and Capacity
Coso PPA Current Terms
Item 4
PRESENTATION
Extension and
Expansion
Key Commercial
Terms
4 Term • Extend by 5 years through 2041
• Minimum 5 MW expansion up to 11
MW – split 50/50 with 3CE (2.5 –
5.5 MW for SVCE)
• Starting Jan 2028
Facility
• Fixed Price with annual escalator
• Protections for SVCE if resource Pricing does not perform • Staff working diligently to get
expansion MWs to count toward
CPUC procurement orders
Compliance
Proposed PPA Terms
Item 4
PRESENTATION
5 Coso amendment modifies price, term, capacity
share of output
Terms Current Amended
SVCE Annual Average Contract
Capacity
Years 1 to 5: 43 MW
Years 6 to 15: 28 MW
Years 16 to 20: 21 MW
Expansion: +2.5 to 5.5 MW
starting year 7
Contract Start Date Jan 1, 2022 Effective: Jan 1, 2027
New Capacity Start: Jan 1, 2028
Term and End Date 15 years through Dec 31, 2036 20 years through Dec 31, 2041 Contract Price Structure Fixed Price + Annual Escalator Percent of Retail Sales Years 1 to 5: 10%
Years 6 to 15: 6%
Years 16 to 20: 5%
Expansion: +1% starting year 7
Item 4
PRESENTATION
6 Alternatives
SVCE staff recommends amending to extend and expand Coso PPA Option 1 – Do Nothing
• Coso PPA cost unchanged
• Contract ends in 2036
• Contract maintains portfolio value for
remainder of term
Option 2 – Amend PPA
• Extend PPA through 2041
• Add up to 5.5 MW of geothermal
capacity – extreme scarcity
• Increased contract value
• Incremental capacity to help with
procurement orders
• IRP modeling likely to recommend
more geo in portfolio
Item 4
PRESENTATION
California Community
Power: CC Power
Joint Powers Agency comprised
of nine California Community
Choice Aggregators (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. CC Power members
represent over 2.7 million
customers across 112
municipalities spanning from
Humboldt County to Santa
Barbara County.
7 Item 4
PRESENTATION
CC Power and
Open Mountain
Energy have
amended the
Fish Lake PPA
8 • Buyer: California Community Power; 8 member-CCAs
• Seller: Fish Lake Geothermal LLC; Open
Mountain Energy (subsidiary of Kaishan Group;
Chinese firm)
Parties
• COD: June 2024 Term • 20 years
• 13 MW geothermal project in Esmeralda
County, NV
• New Build
• SVCE share: 1.82 MW; 15 GWh/year, less
than 0.5% of retail sales
Facility
Pricing • Fixed price
• CPUC Mid-Term Reliability (MTR) Need compliance, Renewable Energy, Capacity Fish Lake PPA Current Terms
Item 4
PRESENTATION
9 Alternatives
SVCE staff recommends continued participation to mitigate compliance risk Option 1 – Not Agree to Modify
Participation Authorization
• Drop out of Project Participation
Share Agreement (PPSA) at CC
Power
• Risk non-compliance with CPUC
MTR
Option 2 – Modify Participation
Authorization
• Modify price
• Mitigate MTR non-compliance risk
• May add more geothermal to
portfolio for new procurement
mandates
Item 4
PRESENTATION
10 Fish Lake amendment modifies price, time to COD
and potential capacity
Terms Original Amended
Contract Capacity Guaranteed: 13 MW Guaranteed: 13 MW
Max: 19.8 MW
SVCE Capacity Share
Guaranteed: 1.82 MW
Expected 14% Share
w/125% Step-Up: 2.28 MW
Guaranteed: 1.82 MW
Expected 14% Share
Max: 2.77 MW
Max w/125% Step-Up: 3.47 MW
Commercial Operation Date June 1, 2024 October 1, 2027
Contract Price Fixed Price
Percent of Retail Sales 0.5% 0.5% up to 1%
Item 4
PRESENTATION
Timeline
11 Prior
through
Q1 2026
• Negotiate
deal
terms
April
2026
• CC Power
amended
Fish Lake
PPA
Today
• Board Review
of Proposed
Amendment
and
Authorization
Modifications
Soon
• Finalize
Coso
PPA
and
execute
amend
ment
Next Few
Months
• Other
Members’
approvals
for Fish
Lake
Item 4
PRESENTATION
Summary
12 Coso
✓ Keep valuable resource in portfolio for
5 more years and add 1% more
renewable energy
✓ Increase capacity for compliance
counting
✓ Incentivize seller to deliver on existing
and new obligations in cost effective
manner that protects SVCE
Fish Lake
✓ Retain scarce resource and maintain
portfolio value
✓ Mitigate risk of regulatory non-compliance
Item 4
PRESENTATION
Recommendation
13 Item 4
PRESENTATION
Title of the Page
Item 4
PRESENTATION
• Subtitle
New SV Clean Energy
PowerPoint Template
Understanding Your Bill
and Clean Energy
Mailings
Board of Director Meeting
May 15, 2026
Item 5
PRESENTATION
Purpose
Level-setting what
customers see about and
from Silicon Valley Clean
Energy
2 • Understanding the energy bill
• How SVCE appears
• Rate application and structures
• Solar customers
• Required Communications
• New Move-In Notices
• Joint Rate Mailer
• Power Content Label
Item 5
PRESENTATION
3 Customer Energy Bills
1 3
4 5
2 6
1) Account Number
2) Name and Address
3) PG&E T&D Charges
4) SVCE Generation Charges
5) Natural Gas Charges
6) Monthly Cost Comparison
Customers can determine very
quickly on Page 1 of their bill:
• If they are an SVCE customer.
• The amount they need to pay.
• How their current month costs
compare to previous months.
Item 5
PRESENTATION
4 Electric Transmission & Delivery Charges
"The PG&E Page"
1 3
4 5
2 All SVCE customers pay Transmission and Delivery
(T&D) charges to PG&E. This page displays PG&E
total rates, then removes charges associated with
the Generation service SVCE provides.
1) Base Service Charge
2) Volumetric Charges
3) Generation Credit
4) Power Charge Indifference Adjustment (PCIA)
5) Franchise Fee Surcharge (FFS)
6) Total T&D Charges
6 Item 5
PRESENTATION
5 Where Customer T&D Charges 'Go'
T&D charges paid to
PG&E are split into their
component parts.
Costs associated with
Transmission and
Distribution, as well as
programs, system
hardening, and wildfire-related charges.
Item 5
PRESENTATION
6 SVCE Electric Generation Charges Page
1 3
2 1) SVCE Total Charges
2) Additional Messaging
3) Additional Resources
Item 5
PRESENTATION
7 Sample Bill Total Rates
PG&E Cost SVCE Cost
Charges for electricity can be separated into
the following categories:
• Delivery Charges
• Generation Charges
• Added Fees
*Based on 440.8 kWh
* *
Item 5
PRESENTATION
8 What comprises the overall rate a customer pays
for electricity?
Residential Electricity Rate (E-TOU-C)
18% SVCE
Generation
82% PG&E
Distribution, Transmission,
PCIA, Other Fees
28% SVCE Generation + PCIA
MP1
Item 5
PRESENTATION
9 Calculating Customer Savings
Generation
Credit PCIA FFS SVCE Gen
Customer
Cost
(Savings)
Item 5
PRESENTATION
10 Calculating Customer Savings
-$46.26 $16.25 $0.26 $29.40 -$0.35
PG&E Page SVCE Page
Generation
Credit PCIA FFS SVCE Gen
Customer
Cost
(Savings)
Item 5
PRESENTATION
Solar Customer Bills
Solar Customers have unique billing
situations that make generalizing difficult.
Seeing this table on page 3 of the bill means
the customer has solar. Their questions will
likely require an additional level of scrutiny.
Item 5
PRESENTATION
12 Customer Billing Questions?
svcleanenergy.org/your-bill
[email protected]
1-844-474-SVCE (7823)
Item 5
PRESENTATION
13 How Customers
Are Informed of
their Energy
Choices
Item 5
PRESENTATION
14 • Customers establishing a
new PG&E account are
auto-enrolled in SVCE
generation service
• Customer notified by two
mailings
• PG&E also discloses CCA
service
New Move-In Notice
Item 5
PRESENTATION
15 • Email/mailed each June to
four customer classes
• CPUC requirement
• Compare SVCE rates and
power content (no
emissions) to PG&E
• Created jointly with PG&E,
strict template
Joint Rate Mailer
Item 5
PRESENTATION
16 Power Content Label
• CEC Requirement
• Sent in fall
• Shows power mix + emissions
from prior year
• Compares emissions to CA Utility
Average
• Able to use as a
marketing/communication piece
Item 5
PRESENTATION
17 SVCE Historical Power Content
Available on the SVCE website: Building New Renewables in California - SVCE Item 5
PRESENTATION
18 Draft 2025 PCL
[DRAFT] 2025 PCL Data*
Emissions, Power Sources, Unbundled RECs Total
■ Renewables and Zero-Carbon Resources 100%
■ Fossil Fuels 0%
Biomass & Biogas 0%
Geothermal 9%
Eligible Hydroelectric 1%
Solar 24%
Wind 13%
RPS Eligible Renewables - Subtotal 47%
Large Hydroelectric 31%
Nuclear 22%
Emerging Technologies 0%
Other 0%
Natural Gas 0%
Coal & Petroleum 0%
Unspecified Power - Total 0%
Retail Sales Covered by Retired Unbundled RECs -
*NOTE: The figures above are preliminary.
Staff will calculate the GHG emissions factor and fuel mix breakdown (percentage derived from renewables and zero-carbon resources or fossil fuels) of unspecified power after data from all reporting entities is submitted.
Item 5
PRESENTATION
19 • Starting with the 2025 reporting year, all load serving entities will need to show emissions associated with losses (energy lost between where it is produced and transmitted to load)
• Starting in 2028, need to report to the CEC hourly emissions associated with serving load – not covered by clean energy
Relevant Legislation & Regulations
Senate Bill (SB) 1158 (Becker, Chapter 367, Statutes of 2022) California Code of Regulations, title 20, sections 1390 et seq.
Future Changes to Clean Reporting
Item 5
PRESENTATION
20 • Also contains:
• Financials
• Policies & Standards
• Formation Documents
• Resolutions
• Strategic Plan
Where to find this info on the SVCE website
SVCE Key Documents page
hosts annual JRM and PCL
Item 5
PRESENTATION
21 Appendix Slides
Item 5
PRESENTATION
Where Do Customer T&D Charges ‘Go’?
Item 5
PRESENTATION
Where Do Customer T&D Charges ‘Go’?
Item 5
PRESENTATION
24 Past SVCE PCLs
2023
Item 5
PRESENTATION
25 Past SVCE PCLs
2022
Item 5
PRESENTATION