Agenda packet — Silicon Valley Clean Energy Board of Directors, August 12, 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).

Larry Klein, Chair
City of Sunnyvale
Sally Meadows, Vice Chair
City of Los Altos
Terry Hines
City of Campbell
R “Ray” Wang
City of Cupertino
Zach Hilton
City of Gilroy
George Tyson
Town of Los Altos Hills
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
298 S Sunnyvale Ave.

Sunnyvale, CA 94086
Silicon Valley Clean Energy Authority
Board of Directors Meeting
Wednesday, August 12, 2026
7:00 p.m.

Sunnyvale Civic Center
456 W. Olive Avenue
Sunnyvale, CA
Gilroy City Hall
Administration Conference Room
7351 Rosanna St.

Gilroy, CA
Community and Cultural Center
Diana Murphy Room
17000 Monterey Road
Morgan Hill, CA 95037
Teleconference Meeting
Webinar:
https://svcleanenergy-org.zoom.us/j/86755050262
Telephone (Audio Only):

US: +1 669-219-2599
Webinar ID: 867 5505 0262
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.

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Sunnyvale, CA 94086
If you are an individual with a disability and need a reasonable modification or accommodation pursuant to the Americans with Disabilities Act (“ADA”) please contact Board Clerk Andrea Pizano at [email protected] prior to the meeting for assistance.

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

Consent Calendar (Action)
2a) Approve Minutes of the June 10, 2026, Board of Directors Meeting 2b) Receive June 2026 Treasurer Report
2c) Approve SVCE 2025 Annual Power Source Disclosure Report Attestation 2d) Receive June 2026 Decarbonization Strategy and Programs Quarterly Report
2e) Adopt Resolution Amending Silicon Valley Clean Energy Conflict of Interest Code to Add Associate Power Settlements Analyst; Finance, Risk & Data Analyst; Key Accounts Manager; and Senior Manager of Human Resources as Designated Positions for Filing Statements of Economic Interests
2f) Receive 2026 Silicon Valley Clean Energy and Electrification Awareness Residential Customer Survey Results
2g) Receive the 2026 Silicon Valley Clean Energy Integrated Resource Plan 2h) Authorize the Chief Executive Officer to Execute an Agreement with Boone Graphics for Mailing and Printing Services with a Not-to-Exceed Limit of $450,000 Over a Three-Year Term

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Sunnyvale, CA 94086
2i) Adopt Resolution Authorizing the Chief Executive Officer to Finalize Negotiations and Execute Amended and Restated Master Power Purchase and Sale Agreements with Shell Energy North America (US), L.P., Constellation Energy Generation, LLC, and NRG Business Marketing LLC to Enable Execution of Energy Transactions
2j) Receive Executive Committee Report
2k) Receive 2026 Legislative Ad Hoc Committee Report
2l) Receive Additional Committees Report
2m) Receive California Community Power Report
2n) Receive California Community Choice Financing Authority Report 2o) Authorize the Chief Executive Officer to Amend the Agreement with SERA Design and Architecture Inc. for Planning, Architecture, & Design Services for Silicon Valley Clean Energy Headquarters and Increase the Not-to-Exceed Amount from $660,000 to $726,000
Regular Calendar
3) CEO Report (Informational)
4) Receive Silicon Valley Clean Energy Audit Committee Resignation from Director Bryan Mekechuk and Appoint Members to Serve on the 2026 Silicon Valley Clean Energy Audit Committee (Action)
5) Bay Area Air District Rule 9-6 (Zero NOx Water Heater Standard) Update (Discussion)
6) Silicon Valley Clean Energy Programs + Marketing: Mid-Year Highlights (Informational)
Board Member Announcements and Direction on Future Agenda Items Adjourn
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

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Silicon Valley Clean Energy Authority
Board of Directors Meeting
Wednesday, June 10, 2026
7:00 pm
Sunnyvale Civic Center
456 W. Olive Avenue
Sunnyvale, CA
Gilroy City Hall
Administration Conference Room
7351 Rosanna St.

Gilroy, CA

DRAFT MEETING MINUTES
Call to Order:

Chair Klein called the meeting to order at 7:01 p.m.

Roll Call

Present:

Larry Klein (Chair), Sunnyvale
Sally Meadows (Vice Chair), Los Altos
Terry Hines, Campbell
R “Ray” Wang, Cupertino
Zach Hilton, Gilroy (participated remotely)
George Tyson, Los Altos Hills
Bryan Mekechuk, Monte Sereno
Yvonne Martinez Beltran, Morgan Hill (participated remotely) Pat Showalter, Mountain View
Chuck Page, Saratoga
Otto Lee, Santa Clara County

Absent:

Rob Rennie, Los Gatos
Garry Barbadillo, Milpitas
Public Comment on Matters Not Listed on the Agenda
Gerard Manning commented on the climate impact of the Bay Area Air District’s gas water heater standards, affordability, and encouraged the Silicon Valley Clean Energy (SVCE) Board of Directors (Board) to look at further possibilities of financing options (in addition to on-bill financing) for heat pump water heaters similar to the programs being done by Westlight Energy (formerly Peninsula Clean Energy) and San Jose Clean Energy. Gerard encouraged acceleration in planning for rule implementation in 2027.

Item 2a Draft Minutes: 6/10/26 Board of Directors Meeting

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Adopt Resolution Commending Elliot Scozzola for His Dedicated Service to SVCE Chair Klein introduced the item to commend former Director Elliot Scozzola for his service on the Silicon Valley Clean Energy Board of Directors.

Chair Klein opened Public Comment
No speakers.

Chair Klein closed Public Comment
MOTION: Director Hines moved and Director Wang seconded the motion to adopt Resolution 2026-12 commending Elliot Scozzola for his dedicated service to Silicon Valley Clean Energy.

The motion carried by verbal roll call vote:

Yes: Director Wang, Director Showalter, Director Hines, Director Tyson, Director Hilton, Director Martinez Beltran, Chair Klein, Vice Chair Meadows, Director Lee No: None.

Abstain: Director Mekechuk, Director Page

Absent: Director Barbadillo, Director Rennie
Consent Calendar (Action)
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 May 15, 2026, Board of Directors Special Meeting 1b) Receive April 2026 Treasurer Report
1c) Authorize the Chief Executive Officer to Execute an Agreement with Ecology Action for an Electric Vehicle Charging Technical Assistance Program with a Not to Exceed Limit of $900,000 Over a Three-Year Term
1d) Approve an Allocation of $700,000 of Program Fund Dollars to Extend the Go Electric Advisor Program and Authorize the Chief Executive Officer to Execute the First Amendment to the Sacramento Municipal Utility District (SMUD) Agreement to Extend the Term through June 2028 and Set a New Not-to-Exceed Amount of $1.542 Million
1e) Recommend the SVCE Board Approve Amendments to SVCE Policies 1f) Authorize the Chief Executive Officer to Enter a Short-term Agreement to Purchase Large Hydroelectric Carbon Free Energy from Brookfield Renewable Trading and Marketing, LP for Calendar Year 2028 and Amount Not to Exceed $1,000,000
1g) Authorize the Chief Executive Officer Approval of CC Power’s Annual Budget and Dues in an Amount Not to Exceed $600,000 for CC Power’s Fiscal Year 2026-2027 and Delegate Authority to the Chief Executive Officer to Enter Agreements Using Approved Funds 1h) Receive Executive Committee Report
1i) Receive Finance and Administration Committee Report 1j) Receive Additional Committees Report
1k) Receive California Community Power Report
MOTION: Director Page moved and Director Mekechuk seconded the motion to approve the Consent Calendar, Items 1a through 1k.

The motion carried by verbal roll call vote:

Yes: Director Mekechuk, Director Tyson, Director Hilton, Director Showalter, Director Page, Vice Chair Meadows, Chair Klein, Director Martinez Beltran, Director Lee, Director Hines No: None.

Item 2a Draft Minutes: 6/10/26 Board of Directors Meeting

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Abstain: Director Wang

Absent: Directors Barbadillo, Director Rennie
Regular Calendar
2) CEO Report (Informational)
Amrit Singh, Chief Financial Officer (CFO), presented the CEO report on behalf of CEO Monica Padilla.

CFO Singh addressed the following in the CEO report:
• Introduction to SVCE’s Senior Human Resources Manager, Chelsea Rawls, who provided brief welcome comments; and
• Bena Chang, Director of Government and Legislative Affairs, shared a legislative update and information on recent Bay Area Air District (BAAD) meetings on the zero NOx water heater rules.

Staff responded to an inquiry on the location for the August Board of Directors meeting.

Chair Klein opened Public Comment.

No speakers.

Chair Klein closed Public Comment.
3) Adopt 2026 Integrated Resource Plan and Delegate Authority to the Chief Executive Officer for Final Approval (Action)
Maren Wenzel, Director of Regulatory, Policy and Planning, presented a request for the Board to approve adoption of the proposed plans for submission in SVCE’s 2026 Integrated Resource Plan (IRP). Director of Regulatory, Policy and Planning Wenzel reviewed the following in her presentation:
• California Public Utilities Commission IRP purpose and requirements; • Summary of proposed SVCE 2026 IRP and development process; • Proposed Preferred Conforming Plan draft results;
• Proposed Alternate Conforming Plan draft results;
• Summary of additional analysis; and
• Key narrative components.

Staff responded to board member questions on curtailment assumptions and adjustment of load, model results of the Preferred Conforming Plan, new energy sources coming online each year, the absence of nuclear and off-shore wind, availability of updated information on million metric tons (MMT) CO2e emissions more recently than 2023, what makes up the increase in load growth, allocation by time of day and real-time pricing, which of the two submitted plans will get adopted by the California Public Utilities Commission (CPUC), if the plan is intended for accountability to the agency or more for planning purposes for the CPUC, energy sources and capacity values, clarification on the stand alone solar in the Preferred Conforming Plan, cost per kilowatt or average for each source, least cost best fit methodology and trade-offs in the assumptions, affordability concerns and actions SVCE is taking, and decentralized production.

Chair Klein opened Public Comment.

No speakers.

Chair Klein closed Public Comment.

MOTION: Director Mekechuk moved and Director Showalter seconded the motion to adopt the proposed Preferred Conforming and Alternate Conforming Plans (“Plans”) for submission in Silicon Valley Clean Energy’s 2026 Integrated Resource Plan (IRP) and, delegate authority to the Chief Executive Officer to finalize and submit for approval to the California Public Utilities Commission Silicon Valley Clean Energy’s 2026 IRP by the due date of August 10, 2026.

Item 2a Draft Minutes: 6/10/26 Board of Directors Meeting

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The motion carried by unanimously by verbal roll call vote with Directors Barbadillo and Rennie absent.
4) Receive Results of Stress Test Analyses (Discussion) Scott Wrigglesworth, Director of Risk Management and Analytics, presented findings of the annual stress test analyses and reviewed the following: the enterprise risk management (ERM) framework and key drivers, the five-year financial base case forecast update, an overview of the stress test construction, the updated base case comparison with the stress test scenario, and actions and next steps.

Staff responded to board member questions on the industry standard for days cash on hand, SVCE’s credit ratings, potential geopolitical factors in energy prices, and timing of the next stress test.

Chair Klein opened Public Comment.

No comments.

Chair Klein closed Public Comment.
5) Approve Financial Levers Playbook (Action)
Justin Zagunis, Director of Customer Success, presented a request for the Board to approve the proposed Financial Levers Playbook. The presentation included a recap of levers and feedback from previous financial levers discussions, defining the playbook, how the playbook will work, and timeline for next steps following playbook approval.

Staff responded to questions and comments on product mix by customer segment, power charge indifference adjustment (PCIA) transparency legislation, incentives for premium product, the forecasted drop in days cash on hand to 2030, risk considerations for climate reporting rules and if it will affect commercial and industrial customers, messaging on rates, how the playbook exists within SVCE, the creation and implementation timing of a potential new premium rate tier for a higher cost, the potential for a member agency to opt-in its community to a higher rate tier with the option for customers in those communities to opt-out, cadence of staff review of the playbook, emphasis on greenhouse gas reductions, and comparisons with other organizations.

Chair Klein opened Public Comment.

Bruce Karney, Chair of Carbon Free Mountain View, distributed a historical look at carbon emissions of all CCAs and PG&E (Attachment 1), noting there was a time when SVCE was ranked the best and now ranks eighth out of 14. Mr. Karney noted it seemed likely to him that rates can go above PG&E and remain clean, and he would like to see an upside stress test scenario where SVCE charges 60% up to see what dollars would be available for programs. Mr. Karney commented at the Bay Area Air District Board meeting, a public question was asked if somebody provided a way to get water and heat from a device that didn’t produce NOx, if people would pay extra to not have that in their homes. Mr. Karney commented it was an interesting argument and flips the script on the importance of getting rid of pollution.

Chair Klein closed Public Comment.

MOTION: Director Wang moved and Director Mekechuk seconded the motion to approve the Financial Levers Playbook to:
• Enact operational cost savings and efficiencies
• Maintain current levels of clean, programs, and rate discount for 2026 and 2027 planning • Introduce new split product offering to give customer choice, assess opt-out risk and interest (only if needed):
• One cheaper than PG&E – e.g. less clean and no program participation • One same as current default but at premium
• Scale up premiums for both products over time (only if needed) Item 2a Draft Minutes: 6/10/26 Board of Directors Meeting

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• Incorporate a small reduction/pause in programs (only if needed) The motion carried unanimously by verbal roll call vote with Directors Barbadillo and Rennie absent.

Board Member Announcements and Future Agenda Items
Director Mekechuk announced his desire to resign from the SVCE Audit Committee and recommendation to have a six-member Audit Committee. Director Mekechuk requested the Board appoint a new member for the Audit Committee at the next Board of Directors meeting.

Director Showalter announced $500,000 would be added to the existing rebate fund for 250 water heaters and heat pumps in Mountain View.

Director Tyson expressed his appreciation to SVCE staff for bringing the “Dream Home” all-electric home to the Los Altos Town picnic.

Director Hines announced the opening of the all-electric Campbell library, and the upcoming all-electric Campbell Police Department ribbon cutting ceremony.

Adjourn
Chair Klein adjourned the meeting at 9:02 p.m.

ATTEST:
________________________
Andrea Pizano, Board Secretary
Item 2a Draft Minutes: 6/10/26 Board of Directors Meeting Bruce Karney Public Comment
Item 2a
Attachment 1
Public Comment
1 TREASURER REPORT
Fiscal Year to Date
As of June 30, 2026
(Preliminary & Unaudited)
Issue Date: August 12, 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 14-15
Customer Accounts and Aging Report 16
Certificate of Compliance 17
SVCE Managed Account & Security Transactions 18-43
Item 2b June 2026 Treasurer Report
2

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Balance Sheet Highlights:
> SVCE operations resulted in an increase in net position of $4.9 million for the month of June or an increase of $20.4 million for the first nine months of the fiscal year 2025-2026 (FYTD). > Total Net Position increased to $527.6 million from $522.6 million. > SVCE is investing ~98.4% of available funds, recognizing interest/dividend income of $14.8M 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* 599.6 M
Total Interest/Div. Earned FYTD 14.8 M
Average Yield to Maturity** 4.06%
* Includes River Bank accounts - Money Market, Collateral and ICS; CAMP; PFMAM 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)
June 30, 2026
*** Displays the starting fiscal year net position on Oct. 1, 2025, of $507M. 507.1 M 527.6 M
-330 M
-220 M
-110 M
0 M
110 M
220 M
330 M
440 M
550 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) Mid-Year Budget (Left Y-Axis)** Actual (Left Y-Axes) 585 580 582 593 597 594 597 597 591
474 464 468 481 487 486 491 494 488
500
350
120
0 50
100
150
200
250
300
350
400
450
500
550
600
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
$14.8 M

2.0 M 1.8 M 1.8 M 1.9 M

1.9 M

2.1 M

2.0 M 2.0 M 2.1 M

1.9 M

2.3 M 2.0 M

1.8 M

2.2 M

1.8 M 1.6 M

1.3 M

0.0 M

2.0 M

4.0 M

6.0 M

8.0 M

10.0 M

12.0 M

14.0 M

16.0 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 Mid-Year Budget Actual and Accrued Cash Basis Accounting Returns River City Bank
Accounts
8%
California Asset Management
Program (CAMP)
32%
PFM Asset Management Investment
Portfolio
60%
SVCE Accounts
* Earmarked funds are unspent SVCE program and building funds. DCOH Includes rate stabilization funds. January 2026 reflects sizable collection of receivables and $780K of unsettled trades.

DCOH is computed as cash and cash equivalents plus investments divided by daily budgeted expenditures. A decrease in June DCOH reflects a larger account receivables and accrued revenue balances. * 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 2b June 2026 Treasurer Report
3

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Summary of Actual Results vs. Adopted Budget (includes allocated but unspent program dollars):
> Operating margin of $40.7 million (or 17%) was significantly above the Mid-Year Budget expectations of $15.5M (or 6%) operating margin for the fiscal year to date. > Fiscal Year to Date (FYTD) Power Supply costs are -11% below Mid-Year Budget. > Retail GWh sales landed -2.5% below Mid-Year Budget expectations for the month of June and -1.5% lower for the FYTD.

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

Revenue 30.0 M 29.2 M 3% 241.0 M 239.9 M 0%
Power Supply Cost 22.7 M 24.2 M -6% 200.3 M 224.4 M -11% Operating Margin 7.3 M 5.0 M 46% 40.7 M 15.5 M 163%
Operating Expenses (ex Power) 2.7 M 3.9 M -30% 23.0 M 31.0 M -26% Other Non-Op. Expen. (Income) -1.2 M -1.5 M -17% -2.0 M -2.3 M -10% Net Increase in Available Fund
Balance 5.8 M 2.6 M 125% 19.7 M -13.2 M -249%
Customer Load Statistics:

Total Accounts 286,211
Opt-Out Accounts (Month) 9
Opt-Out Accounts (FYTD) 138
Opt-Up Accounts (Month) (4)
Opt-Up Accounts (FYTD) 13
Program Funds:

General Program Fund
CRCR Fund*
Electrification Discount Fund
Nuclear Program Funds
Hanford Program 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. $ 5,891,455 $ 5,891,455 $ - $ -
YTD Contributions YTD Expenditures
$ 8,740,312 $ 8,740,312 $ - $ -
$ 649,416
Beginning Balance End Balance
$ 76,714,107 $ 72,831,951
$ 4,262,473 $ -

SILICON VALLEY CLEAN ENERGY AUTHORITY
Financial Statement Highlights** ($ in millions)
June 30, 2026
June Fiscal YTD
April - lower energy consumption under negative margins, combined with reduced energy prices,.. May-June - Higher revenues due to potential favorable changes in load profile, combined with lower energy prices contributed to better than budgeted results.
Reflects budgetary transfers to program and building funds offset by investment income.

March - higher customer load combined with extended decline in energy prices, offset by a negative unrealized mtm adjustment of SVCE Investment Portfolio
$ 8,214,310 $ 10,030,102 $ 5,500,000 $ 3,684,208
$ 1,800,000 $ 1,652,071 $ - $ 147,929
October-December - Equalized to actuals during the Mid-Year budget recalibration.

January - higher revenues from improvement in SVCE margins and lower power supply cost.

February - lower customer load combined with reduced energy prices minimized anticipated net loss by $4M.
Contingencies in the budget, underrunning professional services, and lower marketing expenses. Reflects budgetary transfers to program and building funds offset by investment income. Higher revenue in May and June reflects potential changes in customer load profiles. Lower costs are mostly due to decline in energy/attribute prices and the timing of invoicing. $ 7,251,000 $ 11,133,156
$ 4,911,889

9.4 M

4.1 M 3.7 M

6.4 M6.0 M

3.2 M
0 M
2 M
4 M
6 M
8 M
10 M
12 M
14 M
Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept
Net Increase in Available Fund Balance
Comparing Actuals to Mid-Year Budget
Power Supply

87.8%
Personnel

5.4% Contract
Services

5.3%
G & A

1.1%
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 Budget (GWh) Retail Sales Actual (GWh)
Load deviation from the Budget (Right Y-Axes)
256,675
256,860
257,179
257,400
257,557
257,762
258,039
258,414
258,689
27,523
27,553
27,541
27,547
27,559
27,549
27,521
27,519
27,522

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 2b June 2026 Treasurer Report
4 Current Assets
Cash & Cash Equivalents* $ 219,338,997
Accounts Receivable, net of allowance 21,403,889
Accrued Revenue 18,727,066
Other Receivables 13,628,339
Prepaid Expenses 3,355,030
Deposits 2,381,361
Investments 90,507,528
Cash equivalents - restricted 1,263,127
Total Current Assets 370,605,337
Noncurrent assets
Investments** 294,720,409
Capital assets, net of depreciation 17,355,322
Total Noncurrent Assets 312,075,731
Total Assets 682,681,068
Current Liabilities
Accrued Cost of Electricity 39,505,548
Accounts Payable 2,717,029
Other accrued liabilities 2,339,379
User Taxes and Energy Surcharges due to other gov'ts 907,388 Information technology subscription liability 619,801
Supplier security deposits 33,000
Total Current Liabilities 46,122,145
Noncurrent Liabilities
Information technology subscription liability 526,297
Supplier security deposits 8,478,125
Total noncurrent liabilities 9,004,422
Total Liabilities 55,126,567
Rate Stabilization Fund 100,000,000
Net investment in capital assets 17,355,322
Restricted for security collateral 1,263,127
Unrestricted (deficit) 508,936,052
Total Net Position $ 527,554,501
* 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 June 30, 2026
ASSETS

LIABILITIES

DEFERRED INFLOWS OF RESOURCES
Item 2b June 2026 Treasurer Report
5 OPERATING REVENUES
Electricity Sales, Net $ 237,786,533
GreenPrime electricity premium 1,329,908
Liquidated damages 1,859,346
TOTAL OPERATING REVENUES 240,975,787

OPERATING EXPENSES
Cost of Electricity 200,287,941
Contract services 12,151,073
Staff compensation and benefits 12,390,930
Program incentives 7,335,581
Other operating expenses 2,419,704
Depreciation and amortization 747,657
TOTAL OPERATING EXPENSES 235,332,886
OPERATING INCOME(LOSS) 5,642,901

NONOPERATING REVENUES (EXPENSES)
Investment Income 14,844,720
Financing costs (66,524)
TOTAL NONOPERATING REVENUES (EXPENSES) 14,778,196
CHANGE IN NET POSITION 20,421,097
Net Position at beginning of period 507,133,404
Net Position at end of period $ 527,554,501

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF REVENUES, EXPENSES
October 1, 2025 through June 30, 2026

AND CHANGES IN NET POSITION
Item 2b June 2026 Treasurer Report
6 CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers $ 257,879,091
Receipts of liquidated damages 1,765,596
Receipts of wholesale sales 36,150,832
Receipts of deposits and collateral 35,976
Payments to suppliers for electricity (253,344,326)
Payments of security deposits (1,463,782)
Payments for other goods and services (15,248,643)
Payments for program incentives (7,629,706)
Payments for staff compensation and benefits (12,521,279) Tax and surcharge payments to other governments (5,490,522) Net cash provided (used) by operating activities 133,237

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Payments of subscription liability and related interest (642,578) Acquisition of capital assets (3,254,592)
Net cash provided (used) by capital and related
financing activities (3,897,170)

CASH FLOWS FROM INVESTING ACTIVITIES
Investment income received 16,394,154
Proceeds from investment sales 134,596,396
Purchase of investments (242,361,539)
Net cash provided (used) by investing activities (91,370,989) Net change in cash and cash equivalents (95,134,922)
Cash and cash equivalents at beginning of year 315,737,046 Cash and cash equivalents at end of period $ 220,602,124 Reconciliation to the Statement of Net Position
Cash and cash equivalents - unrestricted 219,338,997
Cash equivalents - restricted 1,263,127
Total cash and cash equivalents $ 220,602,124

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF CASH FLOWS
October 1, 2025 through June 30, 2026
Item 2b June 2026 Treasurer Report
7 Operating Income (loss) $ 5,642,901
Adjustments to reconcile operating income to net cash
provided (used) by operating activities
Depreciation expense 747,657
(Increase) decrease in accounts receivable 1,690,131
(Increase) decrease in accrued revenue 12,370,008
(Increase) decrease in other receivables 12,627,985
(Increase) decrease in prepaid expenses (2,509,023)
(Increase) decrease in current deposits (1,491,056)
Increase (decrease) in accrued cost of electricity (27,442,192) Increase (decrease) in accounts payable (106,683)
Increase (decrease) in accrued liabilities (641,476)
Increase (decrease) in taxes and surcharges due to other governments (788,015) Increase (decrease) in supplier security deposits 33,000 Net cash provided (used) by operating activities $ 133,237

NONCASH INVESTING ACTIVITIES
Change in fair value of investments $ (1,831,785)
Change in interest receivable $ 282,351

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 June 30, 2026
Item 2b June 2026 Treasurer Report
8 FYTD FYTD FY 2025-26 FY 2025-26
OPERATING REVENUES Actual Mid-Year Budget $ % Mid-Year Budget Remaining Budget Energy Sales $241,195,885 $239,956,562 $ 1,239,323 1% $335,858,000 $94,662,115 Green Prime Premium 1,329,908 $1,799,746 (469,838) -26% $2,439,000 1,109,092 Customer bill relief (existing CARE/FERA) (3,409,352) (3,235,304) (174,048) 5% (4,163,000) - Other Income 1,859,346 1,344,000 515,346 n/a 1,344,000 (515,346) TOTAL OPERATING REVENUES 240,975,787 239,865,004 1,110,783 0% 335,478,000 95,255,861

ENERGY EXPENSES
Power Supply 200,287,941 224,384,441 (24,096,500) -11% 311,996,000 111,708,059 Operating Margin 40,687,846 15,480,563 25,207,283 163% 23,482,000 (16,452,198)

OPERATING EXPENSES
Data Management 2,765,999 2,809,546 (43,547) -2% 3,764,000 998,001 PG&E Fees 910,414 1,146,147 (235,733) -21% 1,569,000 658,586 Salaries & Benefits 12,390,930 13,904,402 (1,513,472) -11% 18,870,000 6,479,070 Professional Services 3,317,048 7,420,009 (4,102,961) -55% 10,645,000 7,327,952 Marketing & Promotions 788,794 1,599,363 (810,569) -51% 2,189,000 1,400,206 General & Administrative 2,817,691 4,079,932 (1,262,241) -31% 5,647,000 2,829,309 TOTAL OPERATING EXPENSES 22,990,876 30,959,399 (7,968,523) -26% 42,684,000 19,693,124 OPERATING INCOME/(LOSS) 17,696,970 (15,478,836) 33,175,806 -214% (19,202,000) (36,898,970)

NON-OPERATING REVENUES
Investment Income 14,844,720 15,577,134 (732,414) -5% 20,272,000 5,427,280 TOTAL NON-OPERATING REVENUES 14,844,720 15,577,134 (732,414) -5% 20,272,000 5,427,280

NON-OPERATING EXPENSES
Financing 18,489 116,896 (98,407) -84% 166,000 147,511

CAPITAL EXPENDITURES, TRANSFERS,
& OTHER
Capital Outlay 45,865 458,250 (412,385) -90% 611,000 565,135 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 12,796,865 13,209,250 (412,385) -3% 13,362,000 565,135

NET INCREASE(DECREASE) IN AVAILABLE
FUND BALANCE $ 19,726,336 $ (13,227,848) $ 32,954,184 -249% -$12,458,000 -$32,184,336 Variance

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through June 30, 2026
Item 2b June 2026 Treasurer Report
9 Net Increase (decrease) in available fund balance
per budgetary comparison schedule $ 19,726,336
Adjustments needed to reconcile to the changes
in net position in the Statement of Revenues,
Expenses and Changes in Net Position
Subtract depreciation expense (747,657)
Subract program expense not in operating budget (11,930,501) Add back portion of lease payment applied to reduce lease liability 576,054 Add back transfer to Program funds 12,751,000
Add back capital asset acquisition 45,865
Change in Net Position 20,421,097

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGET RECONCILIATION TO STATEMENT OF

REVENUES, EXPENSES AND CHANGES IN NET POSITION
October 1, 2025 through June 30, 2026

OPERATING FUND
Item 2b June 2026 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 28,628,866 11,133,156 17,495,710 38.9% Net increase (decrease) in fund balance $ (21,377,866) $ (3,882,156) Fund balance at beginning of period 76,714,107
Fund balance at end of period $72,831,951

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

Other program expenditures 963,704 649,416 314,288 67.4% Total Program expenditures 963,704 649,416 314,288
Net increase (decrease) in fund balance $ (963,704) $ (649,416) Fund balance at beginning of period 4,911,889
Fund balance at end of period $4,262,473

SILICON VALLEY CLEAN ENERGY AUTHORITY

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through June 30, 2026

CUSTOMER RELIEF & COMMUNITY RESILIENCY FUND

GENERAL PROGRAM FUND

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through June 30, 2026
BUDGET
BUDGET
Item 2b June 2026 Treasurer Report
11 BUDGET ACTUAL/
REVENUE & OTHER SOURCES: BUDGET ACTUAL REMAINING BUDGET Transfer from Operating Fund $ - $ - $ - n/a
EXPENDITURES & OTHER USES:

Program expenditures 500,000 - 500,000 0.0%
Net increase (decrease) in fund balance $ (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 13,714,310 3,684,208
Other building expenditures - -
3,684,208
Net increase (decrease) in fund balance $ (8,214,310) 1,815,792 Fund balance at beginning of period 8,214,310
Fund balance at end of period $10,030,102

BUILDING FUND

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through June 30, 2026

ELECTRIFICATION DISCOUNT FUND

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through June 30, 2026
Item 2b June 2026 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 1,692,000 - 1,692,000
Net increase (decrease) in fund balance $ (1,692,000) $0 Fund balance at beginning of period 5,891,455
Fund balance at end of period $5,891,455

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 450,000 147,929 302,071
Net increase (decrease) in fund balance $ (450,000) -$147,929 Fund balance at beginning of period 1,800,000
Fund balance at end of period $1,652,071

HANFORD PROGAM FUNDS

BUDGETARY COMPARISON SCHEDULE
0 BUDGET
BUDGET

NUCLEAR PROGAM FUNDS

BUDGETARY COMPARISON SCHEDULE
October 1, 2025 through June 30, 2026
Item 2b June 2026 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 $ 39,479,027 $ 23,564,865 $ 18,103,369 $ 18,192,431 $ 16,163,433 $ 18,451,760 $ 29,751,072 $ - $ - $ - $ 237,786,533 Green electricity premium $ 204,210 $ 186,390 $ 198,040 $ 232,605 $ 103,245 $ 96,962 $ 103,118 $ 89,646 $ 115,692 $ - $ - $ - 1,329,908 Liquidated damages $ 5,750 $ 21,750 $ 1,316,832 $ 4,707 $ - $ 74,155 $ 145,208 $ 163,184 $ 127,760 $ - $ - $ - 1,859,346 Other Income $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - - Total operating revenues 38,718,846 35,779,830 40,993,899 23,802,177 18,206,614 18,363,548 16,411,759 18,704,590 29,994,524 - - - 240,975,787

OPERATING EXPENSES
Cost of electricity 28,412,034 $ 27,405,294 $ 29,131,307 $ 23,128,183 $ 18,628,678 $ 16,999,700 $ 16,112,789 $ 17,760,844 $ 22,709,112 $ - $ - $ - 200,287,941 Staff compensation and benefits 1,276,785 $ 1,267,182 $ 1,428,500 $ 1,908,905 $ 1,209,410 $ 1,526,527 $ 1,179,608 $ 1,355,736 $ 1,238,277 $ - $ - $ - 12,390,930 Data manager 301,259 $ 299,868 $ 300,270 $ 300,775 $ 317,087 $ 313,631 $ 310,938 $ 310,055 $ 312,116 $ - $ - $ - 2,765,999 Service fees - PG&E 100,223 $ 100,352 $ 100,467 $ 100,683 $ 103,451 $ 100,884 $ 100,907 $ 102,139 $ 101,308 $ - $ - $ - 910,414 Consultants and other professional fees 899,290 $ 895,784 $ 816,525 $ 729,493 $ 1,136,993 $ 984,553 $ 814,803 $ 1,138,768 $ 1,058,451 $ - $ - $ - 8,474,660 Program incentives 1,146,022 $ 394,408 $ 1,199,900 $ 946,795 $ 827,031 $ 711,957 $ 805,994 $ 828,668 $ 474,806 $ - $ - $ - 7,335,581 Other operating expenses 279,315 $ 291,015 $ 298,184 $ 335,692 $ 146,217 $ 151,979 $ 225,174 $ 365,892 $ 326,236 $ - $ - $ - 2,419,704 Depreciation 79,605 $ 79,605 $ 79,605 $ 79,604 $ 79,605 $ 79,605 $ 89,783 $ 89,783 $ 90,462 $ - $ - $ - 747,657 Total operating expenses 32,494,533 30,733,508 33,354,758 27,530,130 22,448,472 20,868,836 19,639,996 21,951,885 26,310,768 - - - 235,332,886 Operating income (loss) 6,224,313 5,046,322 7,639,141 (3,727,953) (4,241,858) (2,505,288) (3,228,237) (3,247,295) 3,683,756 - - - 5,642,901

NONOPERATING REVENUES (EXPENSES)
Grant income - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - - Interest income 1,865,552 $ 2,295,828 $ 2,025,849 $ 1,780,985 $ 2,212,151 $ (10,983) $ 1,788,071 $ 1,618,093 $ 1,269,174 $ - $ - $ - 14,844,720 Financing costs (3,797) $ (7,922) $ (5,626) $ (5,696) $ (6,879) $ (4,984) $ (19,923) $ (5,940) $ (5,757) $ - $ - $ - (66,524) Total nonoperating revenues (expenses) 1,861,755 2,287,906 2,020,223 1,775,289 2,205,272 (15,967) 1,768,148 1,612,153 1,263,417 - - - 14,778,196 CHANGE IN NET POSITION $ 8,086,068 $ 7,334,228 $ 9,659,364 $ (1,952,664) $ (2,036,586) $ (2,521,255) $ (1,460,089) $ (1,635,142) $ 4,947,173 $ - $ - $ - $ 20,421,097

SILICON VALLEY CLEAN ENERGY AUTHORITY

STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN NET POSITION
October 1, 2025 through June 30, 2026
Item 2b June 2026 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 $ 40,045,114 $ 49,361,301 $ 49,273,772 $ 49,141,316 $ 50,108,130 $ 49,127,126 $ 41,643,567 $ - $ - $ - California Asset Management Program (CAMP) $ 204,479,801 $ 198,168,622 $ 198,832,731 $ 199,483,109 $ 200,068,872 $ 200,713,749 $ 201,337,885 $ 201,980,229 $177,582,446 $ - $ - $ - PFM Asset Management Investment Portfolio $ 361,652,377 $ 359,561,190 $ 360,891,157 $ 362,655,540 $ 366,506,845 $ 362,660,064 $ 363,691,715 $ 364,456,502 $390,077,177 $ - $ - $ - Total Ending Balance $ 606,585,779 $ 597,638,310 $ 599,769,003 $ 611,499,950 $ 615,849,488 $ 612,515,129 $ 615,137,730 $ 615,563,858 $609,303,190 $ - $ - $ - 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% 4.07% 4.03% 3.98% 3.90% 3.86% 3.84% 3.82% California Asset Management Program (CAMP) 4.26% 4.10% 3.95% 3.85% 3.83% 3.80% 3.78% 3.76% 3.77% PFM Asset Management Investment Portfolio ** 3.90% 3.82% 3.74% 3.77% 3.67% 4.01% 3.98% 4.09% 4.22% Average Return On Investments: 4.02% 3.91% 3.83% 3.82% 3.75% 3.93% 3.90% 3.96% 4.06% * Excludes non-interest bearing RCB checking account
** 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 $ 56,716 $ 81,302 $ 94,616 $ 114,779 $ 101,389 $ 119,750 $ 102,504 $ - $ - $ - California Asset Management Program (CAMP) $ 825,532 $ 688,821 $ 664,109 $ 650,378 $ 585,763 $ 644,877 $ 624,136 $ 642,344 $ 602,217 $ - $ - $ - Other Interest Income $ 4,447 $ 3,138 $ 1,919 $ 1,907 $ 1,858 $ 1,670 $ 1,844 $ 1,785 $ 1,831 $ - $ - $ - PFM Asset Management Investment Portfolio * $ 1,017,502 $ 1,590,299 $ 1,303,104 $ 1,047,398 $ 1,529,914 $ (772,308) $ 1,060,702 $ 854,214 $ 562,622 $ - $ - $ - Total Interest and Investment Gains $ 1,867,938 $ 2,295,828 $ 2,025,848 $ 1,780,985 $ 2,212,151 $ (10,982) $ 1,788,071 $ 1,618,093 $ 1,269,174 $ - $ - $ - * 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 $ 56,716 $ 81,302 $ 94,616 $ 114,779 $ 101,389 $ 119,750 $ 102,504 $ - $ - $ - Camp Pool Composition (based on market value): $ 825,532 $ 688,821 $ 664,109 $ 650,378 $ 585,763 $ 644,877 $ 624,136 $ 642,344 $ 602,217 $ - $ - $ - Other Interest Income $ 4,447 $ 3,138 $ 1,919 $ 1,907 $ 1,858 $ 1,670 $ 1,844 $ 1,785 $ 1,831 $ - $ - $ - PFM Asset Management Investment Portfolio * $ 1,111,671 $ 1,125,280 $ 1,086,434 $ 1,159,987 $ 1,171,497 $ 1,343,275 $ 1,313,730 $ 1,226,174 $ 1,399,146 $ - $ - $ - Total Interest and Investment Gains $ 1,962,107 $ 1,830,809 $ 1,809,178 $ 1,893,575 $ 1,853,734 $ 2,104,600 $ 2,041,100 $ 1,990,053 $ 2,105,697 $ - $ - $ - * Includes interest/dividends/coupons received, net realized gains/losses and monthly change in accrued interest.

CAMP Portfolio Statistics
As of June 30, 2026
Beginning of the Month Market Value $ 201,980,229
Ending of The Month Market Value $ 177,582,446
Monthly Distribution Yield 3.77% Weighted Average Maturity (days) 53 SVCE Investment Policy:
https://svcleanenergy.org/wp-content/uploads/FP-08_Investments.pdf

SILICON VALLEY CLEAN ENERGY AUTHORITY

INVESTMENTS SUMMARY
October 1, 2025 through June 30, 2026
Item 2b June 2026 Treasurer Report
15 PFM Portfolio Statistics
As of June 30, 2026
Portfolio Par Value $ 390,154,501
Portfolio Market Value (icl. Accrued Interest) $ 390,077,177 Yield to Maturity at Cost 4.06%
Yield to Maturity at Market 4.22%
Benchmark Yield* 4.00%
Portfolio Effective Duration (years) 1.34 Weighted Average Maturity (days) 674 *ICE BofA 0-3 Year U.S. Treasury Index
Security Type Jun-25 % of Total Sep-25 % of Total Dec-25 % of Total Mar-26 % of Total Apr-26 % of Total U.S. Treasury $ 99.8 36% $ 100.8 27% $137.4 38% $121.1 34% $130.4 34% Agency CMBS $ 24.1 9% $ 23.5 6% $22.5 6% $21.6 6% $17.1 4% Supranational $ 0.9 0% $ 0.9 0% $0.9 0% $0.9 0% $0.9 0% Negotiable CD $ 9.7 4% $ 13.7 4% $14.7 4% $17.4 5% $20.0 5% Commercial Paper $ 13.8 5% $ 12.1 3% $31.9 9% $24.7 7% $41.3 11% Corporate Notes $ 73.9 27% $ 75.2 20% $86.8 24% $105.4 29% $106.6 28% ABS $ 52.8 19% $ 75.2 20% $63.8 18% $67.2 19% $69.0 18% Joint Powers Authority $ 1.4 1% $ 75.2 20% $0.6 0% $1.8 0% $2.0 1% Total $ 276.4 100% $ 376.6 100% $358.6 100% $360.1 100% $387.2 100%

SILICON VALLEY CLEAN ENERGY AUTHORITY
INVESTMENTS SUMMARY (Continued) October 1, 2025 through June 30, 2026 Historical Sector Allocations

11.55% 12.34%

35.71%

27.58%

7.82%

5.00%

0.00%
0%
5%
10%
15%
20%
25%
30%
35%
40%
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
Commercial Paper 34%
11%
CAMP Pool
0%
Federal Agency Com MBS
4%
Supra-National
Agency
0%
Corp. & Bank Notes
28% Certificate of Deposit
5%
Asset-Backed
Security
18%
SVCE PFM Portfolio Investments Jun-26
AAA
12% AAAm
0%
AA+
39%
AA
2%
AA-4%
A+
8%
A
7%
A-4%
A-1
16%
BBB+
2%
Not Rated
6%

CREDIT QUALITY - S&P
SVCE Investment Policy:
https://svcleanenergy.org/wp-content/uploads/FP-08_Investments.pdf Item 2b June 2026 Treasurer Report
16 October November December January February March April May June July August September YTD Retail Sales Actual (GWh) 330.4 320.7 354.3 349.2 310.5 326.7 300.1 305.2 311.0 2,908 Retail Sales Budget (GWh) 330.4 320.7 354.3 359.4 335.7 321.8 307.1 305.2 319.1 342.7 350.3 345.9 2,954 Load deviation from the Budget (Right Y-Axes)0.0% 0.0% 0.0% -2.8% -7.5% 1.5% -2.3% 0.0% -2.5% -1.5% Customer Participation Rate Res 96.3% 96.3% 96.3% 96.3% 96.3% 96.3% 96.3% 96.3% 96.3% Customer Participation Rate Com 96.5% 96.4% 96.5% 96.5% 96.3% 96.3% 96.4% 96.3% 96.3% Total Accounts 284,198 284,413 284,720 284,947 285,116 285,311 285,560 285,933 286,211 286,211 Opt-Out Accounts 14 17 15 19 23 23 10 8 9 138
Opt-Up Accounts -7 -6 -6 0 -2 7 36 -5 -4 13

0.07 26.26
SVCE Arrearager Total for customers 31+ days late and 120+ days late Age Summary (as of 7/1/2026) Date Amount
<30 days $18,677,343 High 11/29/2021 $7.99M
<60 days $607,854 Low 4/17/2020 $2.54M
<90 days $509,302 Current 7/1/2026 $5.5 M
<120 days $354,076
Older $3,989,456

June 2026 FYTD
Bad Debt % (Budget )

0.75%
Bad Debt % (Actual)

0.41%

SILICON VALLEY CLEAN ENERGY AUTHORITY

RETAIL SALES, CUSTOMER ACCOUNTS AND AGING REPORT
Accounts Receivable Days
26 Days
$24,138,031

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.
• Blue arrow marks the
distribution of SVCE One-Time
Customer Bill Credit
'17-'18 '18-'19 '19-'20 '20-'21 21-'22 22-'23 23-'24 24-'25 25-'26 Total (L Axes) 0.3 M 0.4 M 0.4 M 0.6 M 0.9 M 1.5 M 1.5 M 1.6 M 1.0 M % Revenue 0.12% 0.14% 0.14% 0.25% 0.23% 0.33% 0.29% 0.33% 0.41% Av./Month (R Axes) $25,713 $34,773 $34,599 $53,288 $73,833 $123,729 $128,286 $131,153 $109,852 $-
$30,000
$60,000
$90,000
$120,000
$150,000
$180,000
$210,000
$240,000

0.0 M

0.2 M

0.4 M

0.6 M

0.8 M

1.0 M

1.2 M

1.4 M

1.6 M

1.8 M
SVCE Write-offs By Fiscal Year
-1 M
1 M
3 M
5 M
7 M
9 M
11 M
13 M
15 M
>120 Days 31+ Days
Item 2b June 2026 Treasurer Report
17 Item 2b June 2026 Treasurer Report
18 Item 2b June 2026 Treasurer Report
19 Item 2b June 2026 Treasurer Report
20 Item 2b June 2026 Treasurer Report
21 Item 2b June 2026 Treasurer Report
22 Item 2b June 2026 Treasurer Report
23 Item 2b June 2026 Treasurer Report
24 Item 2b June 2026 Treasurer Report
25 Item 2b June 2026 Treasurer Report
26 Item 2b June 2026 Treasurer Report
27 Item 2b June 2026 Treasurer Report
28 Item 2b June 2026 Treasurer Report
29 Item 2b June 2026 Treasurer Report
30 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 31 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 32 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 33 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 34 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 35 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 36 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 37 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 38 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 39 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 40 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 41 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 42 Item 2b June 2026 Treasurer Report
*July transactions are not included in June Financial Reports but will be included in the next report. 43 Item 2b June 2026 Treasurer Report

Page 1 of 3 ends

Staff Report – Item 2c
Item 2c: Approve SVCE 2025 Annual Power Source Disclosure Report Attestation From: Monica Padilla, CEO
Prepared by: Demarie Weber, Regulatory Compliance Manager Zak Liske, Deputy Director of Power Resources
Date: 8/12/2026

RECOMMENDATION
Staff recommends that the Silicon Valley Clean Energy (SVCE) Board of Directors (“Board”) approve the use of statistics reflected in SVCE’s 2025 annual Power Source Disclosure reports for purposes of preparing SVCE’s 2025 Power Content Label and attest to the veracity of information presented in SVCE’s 2025 Power Source Disclosure report for GreenStart, GreenPrime and GreenPrime Direct service.

BACKGROUND
California Public Utilities Code requires all retail sellers of electric energy, including SVCE, to disclose “accurate, reliable, and simple-to-understand information on the sources of energy” that are delivered to their respective customers1. Applicable regulations direct retail sellers to provide such communications to customers following each year of operation. The format for requisite communications is highly prescriptive, offering little flexibility to retail sellers when presenting such information to customers. This format has been termed the “Power Content Label” (or PCL) by the California Energy Commission (CEC). Prior to distributing the PCL to its customers, SVCE annually submits a report regarding its specified power purchases to the CEC.

This report is a required element of California’s Power Source Disclosure Program (PSD Program) and was timely submitted to the CEC prior to the June 1st reporting deadline. Both the aforementioned annual report and the PCL are required elements of California’s PSD Program, and information reflected in the annual report is contributory to the PCL (with the annual report’s power supply breakout being inserted in the PCL).

During this reporting cycle, the CEC revised the PSD template to include new columns for Loss Factor, Other End Use, and Specified Procurement Covering Losses. These revisions implement the requirements adopted in Docket No. 21-OIR-01. Section 1392(a)(8)(B) of Chapter 3, Article 5, Title 20 of the California Code of Regulations establishes default statement loss factor for in-state resources, specified imports, and unspecified power. These loss factors are calculated and published by the CEC based on estimated transmission and distribution losses, determined by dividing the total energy disposition by the most recent final statement energy data released by the U.S. Energy Information Administration (EIA).

For the 2025 reporting year, the CEC provided default loss factors of 4.19% for in-state resources and 6.19% for out-of-state resources. For the Other End Use category, SVCE reported the net charging load associated with separately metered energy storage facilities. Because SVCE procured renewable and carbon-free energy in excess of its retail sales requirements, the surplus specified procurement was applied to the Specified Procurement Covering Losses column to account for the loss factors. 1 California Public Utilities Code Section 398.1(b) Note: that Section (b)(1), as referenced in the excerpt from applicable PSD regulations, refers to the completion of annual independent audits.

Item 2c
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 2c Agenda Date: 8/12/2026

Page 2 of 3 ends

Additionally, SVCE offers a custom portfolio, GreenPrime Direct, that is excluded from the standard PCL. A separate PCL will be provided to customers enrolled in GreenPrime Direct to reflect the specific power sources associated with that product.

Information presented in the PCL includes the proportionate share of total energy supply attributable to various resource types, including both renewable and conventional fuel sources. The CEC will be preparing Power Content Labels based on retail sellers’ PSD submissions. Once prepared in mid-September, SVCE’s Marketing and Communications team will post the PCL on SVCE’s website by October 1st, 2026 and then design and distribute the 2025 PCL to customers by December 31st, 2026.

ANALYSIS & DISCUSSION
During the 2025 calendar year, SVCE successfully delivered a substantial portion of its electric energy supply from various Renewable Portfolio Standard (RPS) eligible energy sources, including wind, solar, geothermal, small hydroelectricity, biomass and biogas. For GreenStart customers, the percentage of supply attributable to RPS eligible sources approximated 47 percent2. Overall GreenStart was approximately 100% carbon-free with the inclusion of large hydroelectricity and nuclear. For GreenPrime customers, RPS eligible energy comprised 100 percent of the supply portfolio met with RPS-eligible resources. For GreenPrime Direct customers, RPS eligible energy comprised 48 percent of the supply portfolio and overall, 52% carbon-free. A simplified version of the key information is depicted below in Attachment 1. The line losses associated with SVCE’s products, historically measured as 6% of retail sales, and approximated between 4-6% of retail sales based on CEC’s revised methodology for Power Source Disclosure, was also covered by clean energy consistent with the SVCE Board’s annual clean goals.

At the time of this report, SVCE has incorporated information from the annual PSD report in the annual Joint Rate Mailers (JRMs) available on its website. As mentioned, the CEC PSD staff will generate the PCLs internally using information from the retail sellers’ submissions of the PSD annual report, and provide the 2025 PCLs to retail suppliers by mid-September 2026. PCL data includes the proportionate share of various resource types for the total energy supply.

Consistent with applicable regulations, SVCE will complete requisite customer communications following the Board’s approval of pertinent information to be included in the 2025 PCL. Customers receiving PCL communications will include those enrolled in the SVCE program as of December 31, 2026 – the distribution list was derived based on prior discussions with designated CEC staff.

While preparing SVCE’s 2025 annual PSD report, staff performed a detailed review of all power purchases completed for the 2025 calendar year. This review included an inventory of all renewable energy transfers within SVCE’s Western Renewable Energy Generation Information System (WREGIS) accounts, pertinent transaction records.

To fulfill its obligations under the PSD Program, SVCE must also provide the CEC with an attestation of its Governing Board regarding the veracity of each annual PSD report. SVCE is proceeding with self-certification of its annual report for the GreenStart, GreenPrime, and GreenPrime Direct product offerings, consistent with PSDP regulations. Evidence of such attestation must be provided to the CEC by October 1st, 2026. Should the Board endorse staff’s recommendation, a copy of this staff report, and related meeting minutes will be forwarded to the CEC, thereby completing SVCE’s obligations under the PSD Program for the 2025 calendar year.
2 Assembly Bill 1110, passed in 9/26/16, California Energy Commission “Modification of Regulations Governing the Power Source Disclosure Program” 5/15/20, modified the PCL reporting requirements starting with reporting year 2020 to include emissions associated with power supply and treatment of over procurement of resources.

Item 2c
Agenda Item: 2c Agenda Date: 8/12/2026

Page 3 of 3 ends

STRATEGIC PLAN
Approval of the 2025 Power Source Disclosure information for use in the Power Content Label is in support of Goal 5: Manage and optimize load and power resources to meet affordability, GHG reduction and reliability objectives.

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

FISCAL IMPACT
N/A

ATTACHMENT

1. Key information in 2025 SVCE Power Source Disclosure Item 2c
Key Information in 2025 Silicon Valley Clean Energy Power Source Disclosure 2025 PSD / PCL Data Green Start
0%
Green Prime
0%
Green Prime
Direct
Biomass & Biogas 0%
Geothermal 10% 0% 0%
Eligible Hydroelectric 1% 0% 0%
Solar 24% 100% 0%
Wind 11% 0% 48%
Large Hydroelectric 33% 0% 52%
Nuclear 20% 0% 0%
Emerging Technologies 0% 0% 0%
Other 0% 0% 0%
Natural Gas 0% 0% 0%
Coal & Petroleum 0% 0% 0%
Unspecified Power - Total 0% 0% 0%
PCL GHG Intensity (lbs CO2e/MWh)
Unbundled REC %
2 0 0
0% 0% 0%

Page 1 of 1 ends

Staff Report – Item 2d
Item 2d: Receive June 2026 Decarbonization Strategy and Programs Quarterly Report From: Monica Padilla, CEO
Prepared by: Justin Zagunis, Director of Customer Success Douglas Bernard, Decarbonization Management Analyst
Date: 8/12/2026

RECOMMENDATION
Staff recommends the Silicon Valley Clean Energy (SVCE) Board of Directors (Board) accept the current update of the Decarbonization Strategy and Programs quarterly report, reflecting project statuses as of the end of June 2026.

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

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

STRATEGIC PLAN
This item supports SVCE’s 2025-2027 Strategic Plan Goals 7 and 8, to support “SVCE communities to decarbonize through local investments that reduce barriers and demonstrate sensible, scalable, and equitable solutions” and to “engage customers and community stakeholders to build trust of SVCE and advance decarbonization.”

FISCAL IMPACT
Accepting the June 2026 Update of the Decarbonization Strategy and Programs quarterly report has no fiscal impact.

ATTACHMENTS

1. Decarbonization Strategy & Programs Quarterly Report – June 2026 Update Item 2d
SILICON VALLEY \3/ CLEAN ENERGY
$205 million
in lifetime bill savings

DECARBONIZATION PROGRAMS &

MARKETING HIGHLIGHTS
June 2026 Milestones
Quarterly Report
$138 million
in lifetime program
funding allocation
Item 2d
Attachment 1
33,000
unique visits to eHub

DECARBONIZATION PROGRAMS
& MARKETING HIGHLIGHTS
June 2026 Milestones
Quarterly Report
4,035
customers engage
with Go Electric
Advisor service
$11.3M
in home rebates
distributed
Item 2d
Attachment 1
Name Budget Potential Impact
Cumulative Impact To-Date
Last Quarter (Update) Next Quarter (Target)
Home Rebates $20M
4,200 homes
fully/partially
electrified
3,800 homes fully/partially
electrified
Increased HPWH rebates to
$2500 on May 1. Experienced
high volume of HPWH
applications with limited-term $500 HPWH bonus.
4,200 claims. Test use of
Rock Rabbit as the sole
application platform.

Multifamily
Retrofits (TE and
BE)
$12.5M
300 to 1,000 MF AH
units electrified
1 site completed (120
units)
2 sites in construction
(130 units)
Enrolled 3 new sites
Complete construction at 1
site (75 units).

Full-Service
Home Upgrades
$11.4M
600 single-family
homes electrified
Completed installations in
61 homes
Completed 24 installations
Complete installations for
50 homes.

EV Charging
Incentives
$8.9M
2,500 EVSE ports
installed
36 sites completed
(324 L1/L2 ports)
30 active reservations
(473 L1/L2 ports)
New eligibility for businesses,
publicly accessible locations,
and multifamily. Simplified
program rules. Launched
Mountain View adder rebate.

Grow applications from
new eligible property types.

Member Agency
Grants
$6.5M
21 member agency
projects focused on
community
engagement and
decarb
Selected 8 projects for
competitive grant and 13
projects for the
noncompetitive grant
All projects underway Monitor projects
Electrification
Rate Discount
$5.8M
10,000 customers
enrolled
Implementation in progress,
expected start fall 2026 or
later.

Implementation in progress Go live and enroll first
customers.

Zero Interest
Financing Pilot
$5.2M
200 customers
finance electrification
All target customers
contacted and 20 executed
loan agreements.

Completed final home
assessments & executed
remaining loan agreements.

Closed enrollment to new
participants.
80% of installations
completed and begin
supporting initial evaluation
phase.

Community
Energy
Resilience
$5.15M
13 agencies complete
projects, 13 total
projects
12 completed agency
projects
1 project in progress Closeout remaining project
C&I
Decarbonization
Program
$5M
8,000 metric tons of
CO2e removed
through carbon
saving measures
16 customers enrolled
Hosted Participant Workshop
#4 at Comercial Heat Pump
Demonstration site
Complete remaining energy
models and internal
measurement and
verification

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

Quarterly Report
View our active rebates here.
1 JUN 26
Item 2d
Attachment 1
Name Budget Potential Impact Cumulative Impact To-Date Last Quarter (Update) Next Quarter (Target) Decarbonization
Demonstration
Grants
$3.2M
5 local public facing
electric projects
3 projects complete
Planning ribbon cuttings
for remaining 2 projects
Monitor and reimburse
remaining 2 projects as
they move to completion
Permit
Modernization
$3.2M
13 member agencies
improve
electrification
permitting
Permitting agencies have
action plans. All agencies have
reduced barriers for heat
pump water heaters and many
offer expedited permitting.

All 13 agency action plans
in place. Work underway in
many agencies: expediting
permitting, training staff,
and educating customers
on prewiring.

Continue deploying
resources in all member
agencies. Begin laying
groundwork for a
contractor certification
program.

Emergency
Water Heater
Replacement
$2.6M
700 emergency
water heaters
upgraded
16 emergency water heater
installations completed
4 emergency water heater
installations completed.

Complete 10 installations.

CALeVIP 1.0 $2.5M
85 DCFC
installed
1,100 L2 installed
26 DCFC installed
338 L2 installed
Pending project remained
incomplete. Program
closeout began.

Final report review.

Program completes July 1.

Customer
Resource Center
(eHub)
$2.1M
250K Unique
Visits
50% Open Rate
Appliance
Promotion has
>100 Participants
51K Unique Visits and 11K
Returning Visits
51% Open Rate and 1%
Click Rate
41K Unique Visits, 624K
Unique Opens, Launched
eHub Marketing Campaign
125K Unique Visits, 750K
Unique Opens, Launch
Appliance Marketplace
promotion
Existing Building
Policy
Experimentation
$1.9M
Spur action on
building
electrification and
reduce building gas
combustion
Existing building policies are
now understood and
momentum is building for
implementing various
activities to address them.

Agencies are submitting
codes to the State and
awaiting final approvals
Support agencies to
educate customers about
codes once they are
effective. Consider other
ordinances, ex. building
performance standards.

Contractor
Training
$1.7M
300 contractors
trained
500 graduate
incentives
409 contractors completed
training
833 approved
collaboration bonuses
Completed 18 more
trainings and gave out 92
bonuses.

Continue/review W-9
collection, begin drafting
new module content, and
implement Docusign IAM
platform in Salesforce.

EV Rebates $2.5M
975 EV purchase
incentives for
income qualified
customers
451 rebates paid
53 new EV rebates
approved. Sponsored first
EV Ride and Drive in
partnership with Breathe
California and Gilroy City.

Continue to promote
program to qualified
customers. Goal to surpass
500 EVs by next quarter.

Programs
Marketing Fund
$2M
9,000 new program
participants
Marketing for 12 programs.

Nearly 4,500 program
participants added.

Customer.io refined,
GovDelivery ended. Annual
survey results presented to
EC. Citizen Group heat
pump campaign
Marketing campaign for
heat pumps.. Start website
refresh design phase.

PROGRAMS PORTFOLIO
Active Programs
View our active rebates here.
2 JUN 26
Item 2d
Attachment 1
Name Budget Potential Impact
Cumulative Impact To-Date
Last Quarter (Update) Next Quarter (Target)
GridShift EV
Charging and
Rebates
$973K
Bill/emissions savings
and load shifting
capacity
1,616 EVs enrolled
(incl. ChargeWise)
83 charger rebates
Continue EM&V work. Continue EM&V work.

Go Electric
Advisor
$892K
3,600 customers use
hotline, 1,200 use tech
assistance, 350 use
electrification plans
4,035 customers use
service
649 new customer contacts, 196
non-program inquiries. Program
extension approved.

Add 650 new customer
contacts incuding 75 non-program inquiries
Business
Rebates
$750K 20-30 SMBs electrified
13 SMBs fully/partially
electrified
Awarded 2 new rebates,
outreach campaign planned, Ad
campaign started, and website
revamped.

Complete outreach
campaign and electrify 2-3
businesses.

EM&V $640K
Evaluate 80% of SVCE
programs within 2 years
of launch
11 reports completed
Completed analysis of residential
programs survey.

Complete billing analysis
for residential programs.

SV Building
Electrification
Stronger
Together
$600K
Educate stakeholders
about building
electrification
50 stakeholders engaged
to date
Hosted contractor working
group meeting; Interviewed two
community based organization
working group members
Begin new commercial
buildings contractor focus
group.

Decarbonizati
on
Engagement
Grants
$442K
5 communities engage
residents on climate
action topics
5 projects complete Program complete Program complete
Natural Gas
Phaseout
Feasibility
$300K
Complete 2 whitepapers
to inform local, regional,
and statewide policies
1 whitepaper (funding
requirements)
completed, technical
feasibility study shared
with Air District
Funding & finance research
shared with programs working
group
Continue engagement with
Air District on exemptions
Fleet
Electrification
$300K
Complete fleet
electrification and
charger install planning
for 15 fleets
15 fleets in the program.
9 agencies have completed the
planning program. Remaining 6
agencies are actively proceeding.

Two more fleets complete
process.

Assisted
Home
Upgrades
(Rock Rabbit)
$190K
Pilot web app to help
homeowners/contractor
s to apply for multiple
incentives
simultaneously
215 projects created
Assisted Home Upgrades
launches as a primary pathway
for claiming rebates
Reach 150 Claims per
month
Innovation
Onramp (EV
Charging
Pilot)
$1M
Demonstrate innovative
and scalable solutions to
reduce the cost of EV
charging for MF
residents.
3 multifamily sites with
charging installed.

All three vendors completed at
least 1 EVSE installation. Two
vendors are completing the
MDMA software process.

Complete MDMA process
with PG&E. Begin
implementing virtual
submetering. Complete
utility upgrades at one site.

PROGRAMS PORTFOLIO
Active Programs
View our active rebates here. 3
JUN 26
Item 2d
Attachment 1
Name Budget Potential Impact Last Quarter (Update) Next Quarter (Target) Community Grants $3.5M
Fund building/transportation
electrification and energy
resiliency, engagement, and
projects for schools and
community orgs
Grant solicitation live, conducting
outreach
Select grantees and kickoff Technical
Assistance
Neighborhood
Electrification
$1.5M
Test model to electrify buildings
within a community. Electrify 15
homes and set plans for 24 homes
Continued to support member
agencies with SB 1221 and recruited
group of volunteers for neighborhood
workshops
Co-host an Amp the Block! event with
resident hosts and support member
agencies with SB 1221 process.

Workforce
Development
Partnerships
$1.3M
Increase capacity to coordinate
and train skilled workforce for
residential electrification jobs
Continued design with CCA partners
for a contractor incentive for new
HPWH installers. Presented SVCE
contractor initiatives at South Bay
contractor event that reached 100+
contractors.

Launch regional contractor incentive
program.

Demand Flexibility
and Virtual Power
Plant programs
$1M
Connectivity to flexible, customer-sided loads to enable bill savings, avoided generation and capacity
costs, reliability and carbon
benefits
Explored other options for a battery
program. Completed a solar
customer survey on their interest in
batteries.

Review customer survey responses to
inform next steps on the battery
program. Surface challenges to
internal stakeholders.

E-Bike Rebates $500K 200-300 e-bikes
Prepared for program design and
implementation.

Complete program design. Target
launch in Q3 2026.

PROGRAMS PORTFOLIO
Planning
View our active rebates here. 4
JUN 26
Item 2d
Attachment 1
10/22
12/22
2/23
4/23
6/23
8/23
10/23
12/23
2/24
4/24
6/24
8/24
10/24
12/24
2/25
4/25
6/25
12/25
6/26
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
Rebates claimed:

Current Level of $ Funds Reserved (in 000s)
0 5 10 15 20 25 30 35
Income Qualified
Market Rate
Emergency Water Heater
Zero Interest Financing
Rebate program for L1 and L2 EV charging
infrastructure at multifamily and business
properties.
0 500
1000
1500
2000
2500
3000
HPWH

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

Funds Claimed:

Ports Installed:

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

Direct Installations
Assistance in site assessment, installation, and
applying for rebates to electrify single-family
homes.

EV Charging Rebates
Number of Claims

PROGRAMS HIGHLIGHTS
5 $933k
$11.3M
$2.1M
324 L1/L2
Rebates reserved:
= 10 Installed EVSE Ports
Cumulative $ Funds Claimed to Date (in 000s)
Single-Family Homes Electrified
$1.5M
JUN 26
Item 2d
Attachment 1
12/21
3/22
6/22
9/22
12/22
6/23
9/23
12/23
3/24
6/24
12/24
3/25
6/25
9/25
12/25
3/26
6/26
0 200
400
600
800
1000
300 Participants Complete
the Course (Phase 2)
Goal:

Funding: $1.5M
Completions
Contractor Training
Provide financial relief to contractors by
expanding their knowledge of electrification
technologies.
= 10 Participants Complete Course
833
Registrations
409
6 PROGRAMS HIGHLIGHTS
JUN 26
Rebate Goal:
$30K
Goal:
= 10 Multifamily Units Electrified
650 multifamily units
electrified
Multifamily Retrofits
Goal:

Item 2d
Attachment 1
1/26 2/26 3/26 4/26 5/26 6/26
0 5,000
10,000
15,000
20,000
25,000
30,000
35,000
2,874
1,402
3,864
1,418
3,121
1,655
4,313
1,886
3,150
1,780
33,808
3,222
eHub 2.0 Report
Online customer resource center to enable
engagement, education and action related to clean
electricity, EVs and home electrification.

Unique Visits Return Visits
7 PROGRAMS HIGHLIGHTS
JUN 26
Item 2d
Attachment 1

MARKETING HIGHLIGHTS
JUN 26
8 eHub Marketing Campaign
Goal: Achieve 250,000 unique visits and 30,000 returning visits to eHub by December 31, 2026 to inspire and educate customers to go electric and reduce dependence on fossil fuels.

Strategy: Build broad awareness and drive high-volume traffic by pushing large, geo-targeted reach across Google PMax, Meta, and Paramount+ to consistently bring new visitors into the eHub tools.

Creative Concept: That "same energy" — the rush of winning, finishing a race, or celebrating — reframed as the excitement and pride of going electric: a bold, positive choice that feels like a personal victory.

Gilroy EV Ride and Drive
SVCE hosted its first-ever EV Ride and Drive event in Gilroy, which was a significant success. Collaborating with CBO partner, Breathe California, SVCE facilitated nearly 60 test drives over the course of four hours, attracting a little over 100 attendees.

Participants had the opportunity to explore and test drive a diverse selection of EVs (in exchange for free food truck vouchers!) and engage in discussions with current EV owners. Family-friendly activities included arts and crafts, facepainting, a DJ, and free ice cream and portable induction stove raffles provided by SVCE.

Item 2d
Attachment 1

MARKETING HIGHLIGHTS
JUN 26
8 Heat Pump Marketing Campaign May - Ongoing
Goal: Drive participants in Home Rebates and Full-Service Home Upgrades, promote limited time $500 HPWH adder rebate
Strategy: Dedicated Heat Pump landing page, ads on Google and Meta, email outreach Results:
126 HPWH reservations in May - 2 highest month ever
nd
100 reservations in June (compared to 48 last June)
61 FSHU assessments in May
78 FSHU assessments in June
Item 2d
Attachment 1
Built Environment
Community Energy Resilience: Resources (grants) and tools for member agencies to increase individual and collective capacity to adapt to future power outages.

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

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

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

Electrification Rate Discount: Custom rate to promote building electrification.

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

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

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

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

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

Business Rebates: Incentives for projects at a handful of small and medium business properties.

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

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

Reach Codes 2.0: Provide model building energy codes supportive of all-electric design and EV infrastructure to member agencies along with consultant support. 10 GLOSSARY
JUN 26
Item 2d
Attachment 1
CALeVIP: Incentives for L2 and DCFC publicly-accessible EV chargers funded by California Energy Commission and SVCE as part of a regional collaboration.

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

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

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

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

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

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

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

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

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

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

Grid Integration
11 JUN 26
Item 2d
Attachment 1

Page 1 of 2 ends

Staff Report – Item 2e
Item 2e: Adopt Resolution Amending SVCE Conflict of Interest Code to Add Associate Power Settlements Analyst; Finance, Risk & Data Analyst; Key Accounts Manager; and Senior Manager of Human Resources 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: 8/12/2026

RECOMMENDATION
Staff recommends the Silicon Valley Clean Energy (SVCE) Board of Directors (Board) Adopt Resolution 2026- 13 amending the SVCE Conflict of Interest Code (Code) to add the following titles: “Associate Power Settlements Analyst”, “Finance, Risk & Data Analyst”, “Key Accounts Manager”, and “Senior Manager of Human Resources”.

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 April 2026 Board of Directors meeting to add the following titles: “Human Resources Operations Manager” and “Senior Forecasting and Planning Analyst”.

ANALYSIS & DISCUSSION
SVCE hired a Senior Human Resources Manager and an Associate Power Settlements Analyst in June 2026; a Key Accounts Manager will be starting this month and a member of the finance and data analytics team received a promotion from Associate Finance, Risk & Data Analyst to Finance, Risk & Data Analyst. These roles will be making decisions, recommendations, or have routine tasks that would require disclosure of any financial interests.

With these additions, SVCE staff feel the following positions should be added to SVCE’s existing Conflict of Interest Code:

Item 2e
SILICON VALLEY \3/ CLEAN ENERGY
Agenda Item: 2e Agenda Date: 8/12/2026

Page 2 of 2 ends

Designated Position Assigned Disclosure Category
Associate Power Settlements Analyst 1
Finance, Risk & Data Analyst 2
Key Accounts Manager 2
Senior Human Resources Manager 2
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 “Associate Power Settlements Analyst”, “Finance, Risk & Data Analyst”, “Key Accounts Manager”, and “Senior Human Resources 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.

ATTACHMENT

1. Resolution 2026-13 Amending SVCE Conflict of Interest Code to Add Associate Power Settlements Analyst; Finance, Risk & Data Analyst; Key Accounts Manager; and Senior Human Resources Manager as Designated Positions for Filing Statements of Economic Interests Item 2e
Resolution 2026-13 -1-
RESOLUTION NO. 2026-13

A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SILICON VALLEY CLEAN ENERGY AUTHORITY AMENDING THE AUTHORITY’S CONFLICT OF INTEREST CODE TO ADD ASSOCIATE POWER SETTLEMENTS ANALYST; FINANCE, RISK & DATA ANALYST; KEY ACCOUNTS MANAGER; AND SENIOR HUMAN RESOURCES

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 2026-10; 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 Associate Power Settlements Analyst, Finance, Risk & Data Analyst, Key Accounts Manager, and Senior Human Resources Manager.

NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of the Authority rescinds Resolution No. 2026-10 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 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.

Item 2e
Attachment 1
Resolution 2026-13 -2-
ADOPTED AND APPROVED this 12th day of August 2026, by the following vote:

JURISDICTION NAME AYE NO ABSTAIN ABSENT
City of Campbell Director Hines
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
Chair
ATTEST:

Clerk
Item 2e
Attachment 1
Resolution 2026-13 -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 2e
Attachment 1
Resolution 2026-13 -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
Associate Power Settlements Analyst 1
Communications Manager 2
Compliance Manager 2
Decarb Investments Lead 2
Decarbonization and Community Strategies Lead 2
Demand Flexibility Manager 2
Deputy Director of Administrative Services 2
Item 2e
Attachment 1
Resolution 2026-13 -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
Finance, Risk & Data Analyst 2
Human Resources Generalist 2
Human Resources Operations Manager 2
Information Security Manager 2
Key Accounts Manager 2
Management Analyst 2
Manager of Data and Analytics 2
Manager of Decarbonization Programs 2
Manager of IT 2
Manager of Finance 2
Item 2e
Attachment 1
Resolution 2026-13 -6-
Manager of Technical Decarb Strategy 2
Marketing Manager 2
Policy Analyst 2
Power Analyst 1
Power Data Analyst 1
Power Resources Manager 1
Power Resources Planner 1
Power Contracts & Settlements Manager 1
Power Settlements 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
Risk Controls Project Manager 2
Senior Data Analyst 2
Senior Data Engineer 2
Senior Finance and Data Analyst 2
Senior Financial Analyst 2
Senior Forecasting and Planning Analyst 1
Senior Government Affairs Manager 2
Senior Human Resources Manager 2
Senior Management Analyst 2
Senior Manager of Communications 2
Item 2e
Attachment 1
Resolution 2026-13 -7-
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
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.) Item 2e
Attachment 1
Resolution 2026-13 -8-
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.

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 2e
Attachment 1
Resolution 2026-13 -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 2e
Attachment 1
Resolution 2026-13 -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 2e
Attachment 1

Page 1 of 4 ends

Staff Report – Item 2f
Item 2f: Receive 2026 Silicon Valley Clean Energy and Electrification Awareness Residential Customer Survey Results
From: Monica Padilla, CEO
Prepared by: Pamela Leonard, Deputy Director of Marketing & Communications Shawn Orgel-Olson, Marketing Manager
Date: 8/12/2026

RECOMMENDATION
Staff recommends that the Silicon Valley Clean Energy (SVCE) Board of Directors (Board) receive the 2026 SVCE and Electrification Awareness Residential Customer Survey Results.

EXECUTIVE COMMITTEE DISCUSSION
The Executive Committee received a presentation on the survey results on June 26, 2026, which is included as Attachment 1 for reference.

BACKGROUND
On a roughly annual basis, the SVCE marketing and communications team issues a residential customer survey to measure baseline awareness of SVCE and interest in electric technologies. The first survey was sent in fall 2020, just before SVCE began major marketing and outreach efforts to introduce customers to eHub (the online resource center that educates and enables action for electrification). Each subsequent survey is used to gauge how awareness and the likelihood of purchasing the electric technologies SVCE promotes are changing, and to understand customer interest in programs.

Staff utilized its contract with Citizen Group, and their sub vendor, EMC Research, a national full-service opinion research firm, to support this latest survey. The survey was fielded from February 12 to March 2, 2026, and was intended to capture customer perspectives as of early 2026. The survey was sent via email and postal mail, with a link to complete it online. Customers who completed the survey were eligible to win one of 10, $100 bill credit incentives. The survey was sent to randomly selected customers and made available in English, Spanish, Chinese, and Vietnamese.

The results are grouped by census tract into Socioeconomic Vulnerability Index (SEVI) quartiles to provide greater insight into SVCE and electrification awareness across different customer segments, and to identify how SVCE can equitably conduct outreach or target more education to different groups. SEVI describes the socioeconomic characteristics of census tracts within the SVCE service territory and includes five sub-indicators: education attainment, housing burden, linguistic isolation, poverty, and unemployment, which present active barriers to energy security and participation in decarbonization. When reviewing the takeaways, the first quartile, or “SEVI 1” represents the least burdened customers, and the fourth quartile, or “SEVI 4” represents those with the most economic burdens.

Item 2f

SILICON VALLEY

CLEAN ENERGY
Agenda Item: 2f Agenda Date: 8/12/2026

Page 2 of 4 ends

ANALYSIS & DISCUSSION
The annual survey serves as a useful tool for informing messaging and marketing opportunities, as the questions explore purchasing motivations and where customers go to learn about specific electric technologies. The survey focuses on EVs, heat pump water heaters, solar and battery systems, and induction cooking. This year, the survey also included questions on willingness to pay for clean energy and customer programs.

The results of this year’s survey included positive changes in SVCE awareness levels, a reduced likelihood of purchasing many of the technologies SVCE promotes, and a similar set of barriers to adoption. Several key takeaways will inform continued outreach and education efforts to communicate the benefits of electrification and improve customer understanding of SVCE.

Key Takeaways
Staff synthesized the following takeaways from the survey results and present them by topic area, reflecting the different sections of the survey.

Section 1: SVCE Awareness

1. Customers still care most about keeping the cost of electricity low. Followed by electricity generated by clean sources.
a. The importance of generating electricity from clean resources increased significantly from the 2024/2025 survey.
b. Offering services, such as rebates and installation, also increased from the previous survey.

2. Recall of SVCE is high, with increased awareness of the role of SVCE in purchasing electricity.

3. SVCE has an overall 71% favorable rating. PG&E, by comparison, had a 38% favorable rating and 62% unfavorable rating.

4. Customer favorability increases with greater SVCE engagement. a. Respondents who have visited the SVCE website had an 84% favorable rating, while those who have not visited rated SVCE 57% favorable. Customers who “know” SVCE provided an 89% favorable rating, vs. 62% for those who do not know SVCE.

5. There is an ongoing need to further engage SEVI 4 customers and to continue offering and marketing income-qualified programs.
a. Accurate knowledge of SVCE is more common among those in SEVI 1-3 and is notably lower among SEVI 4 customers. Homeowners and higher-income customers are more likely to be informed.

Section 2: Willingness to Pay
Willingness-to-pay questions were added to this year’s survey to gain insights that may inform ongoing discussions on financial levers.

1. More than two-thirds of customers indicate they would pay slightly more for clean energy.

2. When it comes to saving money, fewer than 30-34% of customers agree that they would switch to dirtier electric generation to save $1-10 per month. This number increases to 50% of customers if the savings exceed $10 per month. (Note that SVCE financial levers discussions have not included savings or premiums at these levels, but these thresholds were used in the survey for ease of customer understanding and simplicity).

3. Most customers prefer to remain automatically enrolled in a cleaner, more renewable energy option, even if it costs a bit more. Support is highest among SEVI 1 and older, homeowner customers.

Section 3: Electrification Trends

1. The results indicate the likelihood of customers purchasing any of the electric appliances/equipment is down from prior years. This may be due to greater market share of some technologies (EVs and solar) having already reached the most interested customers, the loss of tax credits, and broader economic conditions.

Item 2f
Agenda Item: 2f Agenda Date: 8/12/2026

Page 3 of 4 ends

2. Cost was cited in the top 5 barriers for each technology (consistent with all past surveys).

3. EVs: 57% of respondents say they are likely to buy an EV for their next vehicle, especially SEVI 1-2 and single-family home residents. That said, the likelihood of purchasing in the next three years appears to be down significantly from 2024. Staff note that this percentage may have changed materially due to the Iran war and increased fuel prices, the survey was distributed prior to the war. a. The top barriers for those who indicated they are likely to purchase an EV include the driving range, cost of purchasing or leasing the vehicle, and not having a place to charge at home. 53% of those in apartments indicated their top barrier is having a place to charge at home.

4. Heat Pump Water Heaters: There was a drop in familiarity with the technology from 2024. SEVI 3 and 4 are the least familiar. Likelihood to purchase is essentially flat from the prior year. a. The top barriers include the cost of purchase and installation, that customers do not feel they know enough about the technology, and concerns about the cost of electricity to heat water.

5. Solar+Battery: The likelihood of purchasing solar within three years dropped significantly from 23% in 2024 to 12% in 2026. The likelihood of purchasing a battery within three years remains essentially the same.

6. Induction: No change in likelihood to purchase from the previous year. a. Of those likely to purchase, customers are most interested in induction cooktop/stove user guides, information on similarities/differences between induction and gas models, and information on health benefits.

Section 4: Marketing and Program Insights

1. Customers show the greatest awareness of SVCE rebates for heat pump water heaters/heat pump HVAC and EVs, as well as the 2025 one-time bill credit. Awareness is lower for the Go Electric Advisor and eHub.

2. 51% of customers surveyed have been to the SVCE website. A significant increase from prior years. Most customers reported finding the SVCE website via email, physical mail, or an online search.

3. Customer program interest areas show a ranking of which kinds of programs respondents are most interested in.
a. Discounted electricity rates are still the future program with the greatest interest. b. Rebates for home battery storage saw an increase in interest from 40% in 2024 to 61% in 2026.
c. Increased interest in low- or zero-interest financing for electric home upgrades and e-bike rebates.

4. When making purchasing considerations for home appliances, cost is the top consideration, followed by health and safety, and then convenience/performance. Environmental impact ranks last.

5. Respondents continue to believe all-electric homes can improve indoor and outdoor air quality, be more efficient, be more reliable, but also be more expensive to operate. There was a jump in the belief that electric appliances and equipment are better for the environment than those that use natural gas.

Caveats & Disclaimers
Some questions were structured differently this year to improve the accuracy of results going forward. This may mean that some year-over-year comparison findings are not always as meaningful or significant. Updated question structures are intended to stay consistent for at least the next few years.

There is a selection bias of customers interested in energy and climate. If a customer is uninterested in this topic, they may abandon the survey before completion, which changes the results. This potential for bias has been present in previous years as well, so all results must be taken with a grain of salt.

Item 2f
Agenda Item: 2f Agenda Date: 8/12/2026

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What Actions SVCE is Taking in Response
SVCE is implementing adjustments to its marketing approaches for heat pump water heaters while exploring new product options based on the Financial Levers discussions. Ongoing efforts where the survey data will be utilized include building awareness for SVCE and its programs, distributing educational information about various electric technologies, and investigating battery incentives as part of a demand flexibility strategy.

Additionally, this data will inform an upcoming refresh of the SVCE website.

Survey results will be utilized to enhance affordability outreach initiatives, including rate pilots, rate comparisons, CARE/FERA enrollment, as well as updates to relevant webpages. The data regarding SEVI 3 and 4 customers requiring additional communication methods and more contact is also being considered as it relates to the income-qualified SVCE programs currently available to customers. Staff are actively analyzing these results and will implement further actions as needed, using the findings to guide ongoing efforts.

STRATEGIC PLAN
The annual customer awareness survey is completed in alignment with the SVCE Strategic Plan, Goal #8:

Engage customers and community stakeholders to build trust of SVCE and advance decarbonization.

FISCAL IMPACT
No fiscal impact to receive these results.

ATTACHMENT

1. June 26, 2026 Executive Committee Presentation
Item 2f
1 • Subtitle
New SV Clean Energy
PowerPoint Template
2026 Customer
Survey Findings
Executive Committee
June 26, 2026
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June Executive Committee Meeting Presentation
2 • Information item on annual residential customer survey to better understand our customers, which informs marketing and messaging. • Key takeaways show steady and expected levels of SVCE awareness and high favorability.
• Survey findings will be shared via consent at the board meeting.

Purpose
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SILICON VALLEY

CLEAN ENERGY
3 Background & Methodology
SVCE runs an annual residential customer survey to measure SVCE and electrification awareness
Goal: Measure SVCE customer awareness and interest in
electrification
• Survey conducted February 12 – March 2, 2026
• 854 residential customers responded, overall margin of error ±3.4 percentage points
• Administered online, outreach conducted via email and mail • Offered a chance to win a $100 gift card to complete
Survey Language
Distribution
Number of
Completes
English 822
Vietnamese 2
Spanish 8
Mandarin 22
Total 854
Breakdown of Selected Survey
Languages
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4 SEVI Quartiles
Socio-Economic Vulnerability Index (SEVI)
base heat map (CES 3.0)
1 (Least Vulnerable)
2 3
4 (Most Vulnerable)
Insufficient Data
Source: CalEnviroScreen 3.0
For illustrative purposes
Sample Design
• Stratified sample by SEVI quartile
• Weighted responses to capture
overall customer statistics based
on the population, adjusting for
socioeconomic vulnerability
differences.
• Respondents closely resemble
the actual service area SEVI
breakdown
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SVCE
Awareness
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6 Customers still care most about keeping the cost of
electricity low
• The importance of generating electricity
from clean resources jumped to 77%
from 58% in 2024*.
• Offering services, such as rebates and
installation, also increased to 68% from
56% in 2024*.
% Total Important 2026 2024*
Keeping the cost of electricity low 93% 92%
Generating electricity from clean energy sources 77% 58% Offering services, such as rebates and installation
support for efficient electric appliances
Previously, “Offering services, such as rebates”
68% 56%
*Previous scale used: Extremely important, very important, moderately important, slightly important and not at all important. Previous n=476
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7 Awareness of SVCE consistent with prior
years, with high prompted awareness
• 16% of respondents believe they purchase
electricity from SVCE (and/or mention combo
with PG&E) without prompting, vs. 12% in
2024.
• After clarifying that PG&E provides delivery
services to those who selected “PG&E only:”
• 33% of respondents either know SVCE
as their electricity provider or name SVCE
as their electricity generation service
• In 2024, 21% of respondents indicated
they sourced their electricity from SVCE,
and 71% said PG&E
81%
8%
8%
2%
PG&E
SVCE
PG&E and SVCE
Other
From whom do you currently purchase electricity?
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8 Awareness of SVCE shows higher prompted
awareness
• After letting survey respondents know SVCE
is an electricity provider in the region:
85% say they had heard of SVCE
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2020 2022 2023 2024 2026
Percentage Prompted Awareness
2020 2022 2023 2024 2026
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9 High Favorability of SVCE
• New question in
2026.
• SVCE has an
overall 71%
favorable rating.

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10 Customer favorability increases with greater SVCE
engagement
Respondents who have visited the SVCE website or state that they know SVCE have much higher favorability ratings.

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11 There is an ongoing need to further engage
SEVI 4 and to continue offering IQ programs
51%
48%
48%
47%
47%
46%
45%
41%
40%
39%
38%
37%
37%
35%
34%
31%
31%
29%
29%
19%
$350K+ (19%)
Not Worried about Paying Electric…
White (46%)
$200K-$350K (18%)
Have visited the SVCE website (51%)
Homeowner (69%)
65+ (34%)
Overall
18-44 (30%)
Asian (31%)
45-64 (36%)
Income: DK/PNR (28%)
$95K-$200K (21%)
Have not visited (49%)
Less than $95K (14%)
Noncommital/(DK/Ref) (20%)
Hispanic (8%)
Non-Homeowner (31%)
BIPOC (7%)
Worried about Paying Electric (13%)
50%
42%
41%
41%
31%
SEVI 1 (22%)
SEVI 2 (25%)
SEVI 3 (23%)
Overall
SEVI NA (9%)
SEVI 4 (21%)
SVCE Knowledge Accuracy Segmentation by Subgroups
• Accurate knowledge of SVCE is
notably lower among SEVI 4
customers.
• SEVI 1 has the most accurate SVCE
knowledge (homeowners, higher-income customers, and those unconcerned about paying bills closely
track SEVI 1).

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Willingness to
Pay
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13 More than two thirds of customers indicate they
would pay slightly more for clean energy
• Only 30-34% customers
would switch to dirtier
electric generation to save
$1-10 per month.
• This number increases to 50%
of customers if the savings are
>$10 per month.
• For reference, +/- 1% is
estimated to be +/- $0.58 per
month based on the average
residential customer bill.

Dollar amounts shown were for survey question simplicity and do not reflect any future recommended SVCE rates.

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14 Automatic enrollment is preferred by the majority,
even if the cost is a bit more
• New question in 2026
• Most customers prefer
to remain automatically
enrolled in a cleaner,
more renewable
energy option, even if it
costs a bit more.
• Support is highest
among SEVI 1 and NA,
older, and homeowner
customers
If your city or county elected officials voted to transition your electricity supply to receive a higher percentage of renewable energy, all customers within that jurisdiction would be automatically enrolled to receive this cleaner, renewable energy.

Thinking of this, would you…
Automatic Enrollment Preference
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Electrification
Trends
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16 The likelihood of purchasing all
appliances/equipment is down from prior years
• Survey indicates the likelihood
of purchasing all
appliances/equipment is
down from prior years.
• This may be due to greater
market share of some
technologies (EVs and solar),
the loss of tax credits, and
broader economic conditions.
*Previously asked on a different scale, % shown is total likely to purchase in next three years. Asked as a multiple-response question in 2026
**Slight language change between 2026 and 2024
***Survey conducted pre-Iran war. The 2024 survey had a small sample size and a higher margin of error
Likelihood to Purchase
2026 2024* 2023*
Smart thermostat 13% 27% 20%
Electric vehicle 15% 34% -
Solar panels** 12% 23% -
Electric yard and garden equipment 7% 13% 15%
Heat pump HVAC 14% 24% 19%
Level 2 electric vehicle charger** 11% 30% 17%
Induction cooktop/stove 16% 17% 15%
Heat pump water heater 16% 20% -
Battery storage for solar panels** 20% 23% -
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17 Cost was cited in the top 5 barriers for each
technology (consistent with all past surveys)
Technology-specific barriers that were among the top 5 barriers for each technology:
• EVs: Driving range, cost, having no place to charge at home • Heat pump water heaters: Cost, not knowing enough about the tech. • Solar/battery: Cost for battery, cost for solar, can’t install at home • Induction: Most (84%) are not interested; want user guides, info about comparison to gas, and some interest in health benefits.

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Marketing and
Program
Insights
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19 Greatest awareness of SVCE rebates for HPWH/HVAC, EV rebates, and the 2025 one-time bill credit
Q14-20. How aware are you of this service or program offered by SV Clean Energy? • Greatest
increase in
awareness of
GEA, eHub,
grants, and
rebates since
the last survey.

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20 51% of customers surveyed have been to the SVCE
website
• Represents a significant
increase from 2024
(35%) and 2023 (22%).
• Most report finding the
website through an email,
physical mail, or online
search. (The most popular
ways to receive information
from SVCE.)
• Postal mail has a good
reach with SEVI 3 and 4.

How did you discover the SV Clean Energy website?
Please select all that apply.

SEVI 1
(22%)
SEVI 2
(25%)
SEVI 3
(23%)
SEVI 4
(21%)
Email 24% 24% 21% 24%
Postal mail 9% 12% 18% 20%
Online search 13% 11% 9% 7%
Community newsletter 9% 7% 7% 9%
Online Ad 3% 3% 4% 7%
Social media 5% 2% 4% 5%
Video Ad 0% 1% 2% 1%
I have not visited the website 51% 54% 50% 41%
Previous rates of
website visitation:
• 2026: 51%
• 2024: 35%
• 2023: 22%
• 2022: 22%
• 2020: 14%
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21 Customers visited the SVCE website for rebate and
incentive information the most
• Rates came in second most
common this year (rates have
always been first in prior surveys).

For which of the following reasons did you visit the SV Clean Energy website? Please select all that apply. n=429
47%
31%
23%
20%
20%
17%
9%
6%
Rebates and incentives
Review electricity rates
Answer questions about my energy
bill
Efficient, electric appliances
Electric vehicles or EV charging
Home solar and batteries
Payment assistance programs
Other
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22 Discounted electricity rates are still the future
program with the greatest interest
• Rebates for home battery
storage increased the most from
40% in 2024 to 61% in 2026.
• Low or zero-interest financing for
electric home upgrades (54%) and e-bike rebates (39%) both increased 14%.

Program 2026 % 2024* %
Discounted electricity rates
for customers participating
in certain programs
84% 92%
Rebates for new home
battery storage systems 61% 40%
Low or zero-interest
financing for electric home
upgrades
54% 40%
Rebates for purchasing e-bikes 39% 25%
*Please note small changes in question wording.

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23 Purchase considerations continue to be dominated
by cost
• When making purchasing
considerations for home
appliances, cost is #1,
followed by health and
safety, then
convenience/performance.
• Environmental impact ranks
last again. This does not
change our mission but
affects our messaging and
marketing approaches.
41%
26%
15%
12%
23%
25%
30%
17%
17%
32%
26%
21%
Cost
Health and safety
Convenience/performance
Environment impacts
First Choice
Second Choice
Third Choice
Please rank the following considerations when making decisions about your home and the products you purchase in order from most important to least important.

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24 All-Electric Home Beliefs
• Seemingly significant
increase in belief that
electric appliances and
equipment are better for the
environment.
• Respondents continue to
believe that all-electric
homes:
• Can improve indoor and
outdoor air quality (78%)
• Are more efficient (65%)
• More reliable (55%)
• But are more expensive
to operate (67%).
% Total Agree 2026 2024202320222020
All-electric homes have better air quality1
78% 83% 73% 73% 75%
Driving EVs is better for the environment than gas vehicles 77% 73% 69% 77% 81% Electric appliances are better for the environment than those that use natural gas, which is a fossil fuel2 76% - 60% 57% 54% Using an induction cooktop/stove is safer than using gas 75% 70% - - - Using electricity to power your water heater is better for the environment than using natural gas, a fossil fuel3 74% 69% - - - All-electric homes are more expensive to operate than
homes with non-electric appliances and equipment4 67% 70% 64% 61% 62% All-electric homes are more energy efficient 65% 67% 54% 53% 52% All-electric homes are less reliable 45% 33% - - -
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25 • More people are visiting SVCE website resources.
• Aided and unaided awareness have improved.
• New findings on favorability are positive.
• Likelihood to purchase is down for all technologies.
• Perceived and real concerns for technology adoption can continue to help inform messaging and education strategies.
• Opportunity to increase outreach to SEVI 3-4 to increase electrification education in more vulnerable groups and continue to implement and improve income-qualified offerings.

Summary
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SILICON VALLEY

CLEAN ENERGY
26 Questions?
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Staff Report – Item 2g
Item 2g: Receive the 2026 Silicon Valley Clean Energy Integrated Resource Plan From: Monica Padilla, CEO
Prepared by: Maren Wenzel, Director of Regulatory, Policy and Planning Date: 8/12/2026

RECOMMENDATION
Staff recommends the Silicon Valley Clean Energy (SVCE) Board of Directors (Board) receive the 2026 SVCE Integrated Resource Plan (IRP), which will be submitted to the California Public Utilities Commission on August 10, 2026.

BACKGROUND
The California Public Utilities Commission (CPUC) requires all jurisdictional load serving entities (LSEs) file an Integrated Resource Plan on a regular cadence, per SB 350 (De Leon, 2015). These filings are generally due every two years, however the CPUC skipped the 2024 cycle, making this the first IRP SVCE has filed since 2022. The intent of the IRP is to help the CPUC track the development of the electric grid and ensure that collectively LSEs are on track to meet the state’s clean goals while maintaining system reliability. These plans are used for numerous downstream planning activities including in the California Independent System Operators (CAISO) Transmission Planning Process.

At the June 2026 SVCE Board of Directors meeting, the Board adopted Staff’s Recommended action on the 2026 Integrated Resource Plan, specifically:

1. Adoption of the proposed Preferred Conforming and Alternate Conforming Plans (“Plans”) for submission in SVCE’s 2026 Integrated Resource Plan; and

2. Delegate authority to the Chief Executive Officer (CEO) to finalize and submit for approval to the California Public Utilities Commission SVCE’s 2026 IRP by the due date of August 10, 2026.

During that meeting Staff committed to providing the Board of Directors with a copy of the final narrative report as part of the September Board meeting. Due to timing of the filing, SVCE staff can provide that as part of the August meeting materials.

ANALYSIS & DISCUSSION
The public version of the IRP narrative is found in Attachment 1. The accompanying Clean System Power (CSP) tool and Resource Data Template (RDT) will be posted and available on SVCE’s website on or before August 10th1.

STRATEGIC PLAN
Completion of SVCE’s 2026 IRP supports achievement of Goal 2 “long-term, target for 100% clean energy annually by building a balanced portfolio with consideration for both affordability and reliability while exploring long-term pathways to clean power supply”.
1 Available at: https://www.svcleanenergy.org/plans-policies-reports/#irp Item 2g
Agenda Item: 2g Agenda Date: 8/12/2026

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ALTERNATIVE
Not applicable.

FISCAL IMPACT
Not applicable.

ATTACHMENT

1. 2026 Silicon Valley Clean Energy Integrated Resource Plan Narrative - Redacted Item 2g
Standard LSE Plan

SILICON VALLEY CLEAN ENERGY
2026 INTEGRATED RESOURCE PLAN
AUGUST 10, 2026
Item 2g
Attachment 1
SVCE IRP Plan - Redacted
i
Table of Contents
I. Executive Summary ............................................................................................................................1 II. Study Design .......................................................................................................................................3 a. Objectives........................................................................................................................................3 b. Methodology...................................................................................................................................4 i. Modeling Tool(s).........................................................................................................................4 ii. Modeling Approach ....................................................................................................................7 iii. Alternative Assumptions ........................................................................................................7 III. Study Results.......................................................................................................................................8 a. Conforming and Alternative Portfolios ...........................................................................................8 b. Preferred Conforming Portfolio ....................................................................................................14 c. GHG Emissions Results..................................................................................................................15 d. Local Air Pollutant Minimization and Disadvantaged Communities.............................................17 i. Local Air Pollutants ...................................................................................................................17 ii. Focus on Disadvantaged Communities.....................................................................................17 e. Cost and Rate Analysis ..................................................................................................................20 f. System Reliability Analysis ............................................................................................................24 g. Existing Resource Planning............................................................................................................27 h. Hydro Generation Risk Management............................................................................................29 i. Long-Duration Storage Planning ...................................................................................................31 j. Clean Firm Power Planning ...........................................................................................................31 k. Non-CAISO, including Out-of-State, Wind Planning......................................................................33 l. Offshore Wind Planning ................................................................................................................34 m. Transmission Planning ..............................................................................................................35 IV. Action Plan........................................................................................................................................44 a. Proposed Procurement Activities and Potential Barriers..............................................................44 i. Resources to meet IRP mandated procurement requirements, including D.21-06-035 and D.23-02-040: .....................................................................................................................................45 ii. Plans for resources that are currently non-candidate in CPUC’s IRPs not described above.....46 iii. Other renewable and/or zero carbon resources not described above ................................46 iv. Other energy storage not described above..........................................................................46 v. Other demand response not described above .........................................................................46 Item 2g
Attachment 1
SVCE IRP Plan - Redacted
ii
vi. Other energy efficiency not described above ......................................................................48 vii. Other distributed generation not described above..............................................................48 viii. Transportation electrification, including any investments that correspond to different levels than what is included in Integrated Energy Policy Report (IEPR) ...........................................50 ix. Building electrification, including any investments that correspond to different levels than what is included in Integrated Energy Policy Report (IEPR)..............................................................52 x. Potential Centralized Procurement, pursuant to AB-1373 .......................................................56 xi. Other ....................................................................................................................................58 b. Disadvantaged Communities (DACs).............................................................................................59 c. LSEs’ Tribal Customers ..................................................................................................................65 d. Procurement Products..................................................................................................................65 e. Commission Direction of Actions..................................................................................................66 V. Lessons Learned................................................................................................................................67 Item 2g
Attachment 1
SVCE IRP Plan - Redacted
1 I. Executive Summary
Silicon Valley Clean Energy (SVCE) is pleased to present herein its 2026 Integrated Resource Plan (IRP).

SVCE is a community choice aggregation program (CCA) operated by the Silicon Valley Clean Energy Authority (SVCEA), a California joint powers authority (JPA) composed of twelve cities plus the unincorporated areas of Santa Clara County. As a JPA, SVCEA is a local government agency that operates on a not-for-profit basis and is controlled by, and accountable to, the communities it serves.

SVCE is focused on helping its member communities advance their greenhouse gas (GHG) reduction goals by providing a clean source of energy and supporting economy-wide decarbonization through electrification while maintaining cost competitive rates and furthering system reliability. SVCE appreciates this opportunity to highlight its progress so far and to contribute to the statewide IRP planning exercise.

SVCE will be celebrating its 10th anniversary in 2027. SVCE’s accomplishments since its launch include achieving an annual carbon-free1 content in 9 out of 10 years of operation, which includes successfully offering a voluntary 100% Renewable Portfolio Standard (RPS) product to approximately 4% of its load; demonstrable progress towards meeting Senate Bill (SB) 350 long-term RPS procurement mandates through the successful execution of twenty six long-term power purchase agreements (PPAs); strong performance in meeting California’s Resource Adequacy (RA) mandates; and an expansive list of program offerings to promote decarbonization and electrification within SVCE’s service territory. All this was achieved while maintaining competitive rates relative to the incumbent investor-owned utility (IOU) and building a financially stable organization. SVCE has an investment-grade credit rating of A with a positive outlook from S&P and A3 with a stable outlook from Moody’s. These ratings were awarded because of SVCE’s ability to meet all procurement mandates, strong leadership, and the ability to understand and manage risk, as well as SVCE’s robust financial liquidity position.

The 2026 IRP is SVCE’s fourth IRP. SVCE’s planning and electricity procurement efforts will help meet California’s aggressive and necessary GHG reduction goals while charting a path towards providing SVCE’s customers carbon-free electricity to promote electrification in an affordable and reliable manner.

To this end, SVCE has identified three key goals: GHG reductions, affordability and reliability. It is not sustainable or responsible to present a portfolio which merely looks at one of these goals without considering the consequences for the other. This is demonstrated through SVCE’s prior and ongoing procurement efforts, which balance aggressive deployment of solar photovoltaics (PV) with paired 1 Values based upon SVCE’s achievement of its Board of Directors adopted definition of clean, which include both RPS and GHG-free eligible resources. Values measured on an annual basis based on actual retail sales plus a 6% margin to cover line losses. SVCE November Board of Directors Agenda Packet. (2024). Silicon Valley Clean Energy. https://svcleanenergy.org/wp-content/uploads/2024-1113-SVCE-November-BOD-Agenda-Packet-scrubbed.pdf.

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Attachment 1
SVCE IRP Plan - Redacted
2 storage facilities, wind and additional long-term purchases of new and existing geothermal and long-duration storage resources.

In this IRP, SVCE presents two conforming portfolios, both of which meet SVCE’s share of the 8 MMT target. The Preferred Conforming Portfolio reflects SVCE’s current board adopted clean targets. These targets require the agency to achieve 75% RPS by 2030 and 100% by 2035 and thereafter on a retail sales basis. In addition to its aggressive RPS targets, the SVCE board has also directed the agency to maintain 100% clean energy, including line losses, each year. To supplement this Preferred Conforming Portfolio, this IRP also provides an Alternate Conforming Portfolio, which studies a scenario in which 50% of SVCE’s load opts into a minimum compliance product. This scenario is intended to assess the portfolio impacts of a potential SVCE product offering, which focuses on affordability with less aggressive new build and greater reliance on existing system resources. Each of these scenarios is discussed in more detail in Section II below.

In addition to the two conforming portfolios, SVCE completed analysis of several sensitivities intended to address specific questions posed in this narrative. This includes a review of system reliability under Slice of Day (Section III.f), an analysis of portfolio needs using SVCE’s internal load forecast (Section IV.a.xi) and an assessment of procurement needs should Department of Water Resources (DWR) centralized procurement occur (Section IV.a.x.). SVCE presents the results of these sensitivities within this document for the purpose of addressing these planning questions but does not include them as formal conforming or alternate portfolios.

In both its conforming plans, SVCE finds a need for a significant amount of procurement, driven largely by the California Public Utility Commission’s (CPUC) assigned forecast. This forecast, which is 68% higher in 2035 than what SVCE was mandated to use in its 2022 IRP, causes a significant departure in portfolio results relative to SVCE’s last IRP filing. SVCE also finds a consistent need for both out of state and firm clean resources in its portfolios, suggesting a need to enable greater resource diversity for the state as it reduces reliance on emitting resources.

The modeling and results for this IRP, as described in Sections II and III below, relied heavily on the Automated Resource Selection (ARS) capacity expansion tool developed by Ascend Analytics. This tool developed least cost, best fit portfolios for SVCE which achieve the necessary reliability, RPS and GHG metrics for each portfolio. In Section IV, SVCE discusses its procurement activities to date along with potential barriers, risks and other activities which may impact the viability and likelihood of the Preferred Conforming Portfolio presented herein coming to fruition. Finally, Section V considers additional changes to the IRP process which may improve California grid planning and procurement.

In the coming years SVCE’s procurement activities will focus on balancing additional new renewable procurement with existing cost-effective contracts, diversifying its renewable portfolio in order to better match its renewable generation profile to its customers demand curve, and continued review of new emerging technologies which may support the organization’s long-term carbon-free goals. SVCE also maintains its commitment to investing heavily in programs to help its communities further decarbonize Item 2g
Attachment 1
SVCE IRP Plan - Redacted
3 via electrification of buildings and transportation while advancing demand flexibility through rate and program design.

II. Study Design
a. Objectives
SVCE’s purpose in undertaking this modeling exercise was twofold. First and foremost, SVCE sought to produce an IRP that would represent SVCE’s procurement policies as comprehensively as possible while simultaneously meeting the compliance requirements of this IRP process. Second, SVCE sought to undertake analysis that would be internally useful for planning purposes and instructive on how potential changes to product offerings in the future may impact affordability and procurement needs.

In November of 2024, the SVCE Board of Directors adopted long-term clean targets for the agency.

These targets were adopted in response to analytical work conducted by SVCE’s planning team in conjunction with Energy + Environmental Economics (E3) to assess the potential value and risks of various clean targets including both annual and hourly clean metrics. Due to the cost and risks associated with achieving hourly clean targets the board adopted annual targets but requires the procurement team to include an hourly GHG-reductions assessment as part of PPA evaluation going forward. The Board ultimately adopted a target of 75% RPS by 2030 and 100% RPS by 2035 on a retail sales basis. Additionally, the Board directed staff to continue to achieve a portfolio that is 100% clean on an annual basis, including line losses.

More recently, SVCE staff has held a series of “levers” conversations with the Board of Directors to proactively discuss how to balance its clean goals, program offerings and competitive rates should market conditions negatively impact portfolio margins on a sustained basis. From that discussion, SVCE is exploring the value of expanding product offerings to enable a broader choice of clean products and more affordable rates. The Alternate Conforming Portfolio, reflecting 50% of load on a minimum compliance product, is intended to reflect the potential portfolio and rate impact of pursuing such products. SVCE views the 50% as a high level of load to be on a lower compliance product but used the value to study a more extreme case and highlight potential differences in cost and resource build.

After portfolio assumptions were developed, SVCE began the modeling process as described below. In developing modeling assumptions SVCE utilized the assigned load forecast and built model constraints into its capacity expansion tool to ensure that each portfolio met or exceeded its share of the 8 MMT targets as well as reliability needs as provided by the CPUC.

Item 2g
Attachment 1
SVCE IRP Plan - Redacted
4 b. Methodology
i. Modeling Tool(s)
To evaluate the potential future portfolios described in the previous Section II.a SVCE employed the ARS module of the PowerSIMM V modeling platform developed by Ascend Analytics. An overview of the ARS modeling framework employed for development of the 2026 IRP portfolios is shown in Figure 1.

Additionally, SVCE evaluated the Preferred and Alternate portfolios developed from the ARS module within PowerSIMM’s stochastic capabilities in order to understand the cost at risk aspect of each portfolio. PowerSIMM’s model framework for stochastic evaluation corresponds to the diagram below in Figure 2.

ARS is PowerSIMM’s capacity expansion module. ARS selects the least-cost resource procurement or retirements which satisfy the model constraints. The models begin with a dispatch of existing and candidate resources to determine variable costs, energy generation, carbon emissions, and renewable generation over the time horizon of the study. SVCE employed the following key model constraints:

1. Resource Adequacy – Requires portfolio to meet reserve margin requirements set by the IRP process, using a Slice of Day logic (not ELCCs)

2. Short-Term Contracts – Requires short-term contracts to supply between 15% and 35% of retail load on an annual basis

3. Emissions Target – Requires SVCE procure carbon-free energy to meet or exceed the 8 MMT target given the expected system emissions each hour from the Clean System Power (CSP) tool

4. Annual Clean Constraints – Requires portfolio supply meet RPS and GHG-free annual targets corresponding to the Preferred Conforming Portfolio and the Alternate Conforming Portfolio, respectively
Outputs from ARS provide the timing and quantity of resources to procure through the study horizon which satisfy the above constraints at the lowest cost. The model considers full resource costs including fixed costs and variable costs. Market sales revenue is treated as a negative cost in the model. The next stage of the planning process is to evaluate ARS output portfolios in both the Resource Data Template (RDT) and CSP tools. Due to discrepancies between the Ascend modeling tools and the IRP compliance tools, cases were post-processed to ensure a least cost fit which achieved the required RPS, RA and GHG metrics2. Finally, the portfolios were evaluated to calculate total portfolio costs and gauge portfolio risk.

SVCE selected the ARS module as the primary capacity expansion, production cost and valuation tool for this IRP because it provides deeper insight and precision in valuation relative to a sector-wide capacity 2 SVCE ensured that the RA, RPS and GHG metrics for compliance are achieved in all portfolios. In instances where the annual GHG-free percentage of energy from the CSP tool was less than 100%, SVCE relied on the modeling results of the Ascend tool. Due to the deliverability terms of SVCE's contracts, it expects to achieve 100% GHG-free energy with the portfolios presented, even in instances where the CSP tool does not achieve this target. SVCE monitors its contracted energy against its annual GHG-free target and intends to procure additional short-term GHG-free resources to maintain that target, if needed.

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5 expansion model like RESOLVE.3 While ARS does not explicitly check for system reliability as the SERVM model does, it does model LSE-level RA needs. ARS uses a Slice of Day (SOD) RA framework, aligned with current RA program requirements. It calculates the peak demand of SVCE’s load in every month-hour of the forecast and applies a PRM to find the RA constraint in each month-hour. It then finds the least-cost combination of resources required to satisfy that RA constraint (amongst others). The RA value of supply resources is based on CPUC-supplied exceedance profiles, and the RA value of storage projects is based on their economic dispatch.

SVCE opted to use the ARS Slice of Day logic over the ELCCs because it believes this represents a portfolio optimization that is best aligned with actual portfolio needs and likely future procurement. As discussed in Section III.f below, there may be a meaningful discrepancy between implied SOD needs and the IRP reliability constraint under ELCCs. While this difference in constraints may diverge from RESOLVE, SVCE ensured its portfolio was compliant with the RDT reliability constraint through use of additional existing natural gas. Therefore, SVCE does not believe its results have any divergences from RESOLVE that would require the CPUC to evaluate the portfolios differently than if SVCE had used RESOLVE for capacity selection.

Figure 1. Modeling framework to develop compliant, reliable, and least cost portfolios in PowerSIMM. 3 RESOLVE is a high-level capacity expansion optimization model that selects system level (i.e. WECC or California wide) resources to meet a set of load, emissions, and reliability constraints at minimum cost using a 37-day simplification.

Modeling Overview
Automated Resource
Selec0on (ARS)
• Run ARS for selec/on of
op/mized capacity plan
for compliance,
alterna/ve load, and
internal scenarios
• ARS selects least-cost
combina/on of
resources to meet future
load while maintaining
system needs and policy
mandates (RPS, GHG,
CSP, RA, etc.)
Produc0on Cost
Analysis
• Use ARS results to build
op/mized porGolios
• Run hourly dispatch
model to provide results
for porGolio costs,
carbon emissions, net
posi/on, market
purchases, etc.
• Inves/gate sensi/vi/es
such as alterna/ve loads
& targets
Resource Adequacy
• Run porGolios through
RA-SOD model to ensure
that RA is maintained in
each month-hour of each
year
Itera0on may be necessary to ensure robust results
ARS results roll into other modules within PowerSIMM framework Model Setup &
Valida0on
• Collect input and build
reference case model
• Validate exis/ng
porGolio & candidate
resource pool
• Run ini/al economic
dispatch study for every
resource to assess cost,
genera/on, and
resource contribu/on
to targets of interest
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6 Figure 2 shows PowerSIMM’s modeling framework. PowerSIMM simulates weather based on historical weather observations at National Climate Data Center stations throughout California. It then simulates load and renewable generation as a function of weather, and historical generation/demand. Hourly spot price conditions are simulated as a function of weather, system load, and renewable generation. The simulated spot prices are scaled so that the average of all spot prices equals the simulated on-peak/off-peak monthly forward price. Market forward data in the near term (next 5 years) is blended with Ascend’s long-term fundamental forecasts of gas and power prices driven by supply fundamentals in the Western Electricity Coordinating Council (WECC). With spot price, renewable generation, and load simulations in hand, PowerSIMM operates all dispatchable resources economically, according to price signals and limited by transmission limits. This concludes the simulation and dispatch optimization.

PowerSIMM next finds the least-cost buildout, consisting of the existing portfolio and candidate resource options, to satisfy the specified constraints (RPS, GHG-free, RA, emissions, etc.). Finally, PowerSIMM reports all requested outputs.

Figure 2. Schematic diagram of PowerSIMM modeling framework.

Following development of the portfolios in ARS and any necessary post-processing SVCE evaluated portfolio risk using PowerSIMM’s stochastic capabilities. PowerSIMM captures and quantifies elements of risk through the simulation of meaningful uncertainty with weather as a fundamental driver.

PowerSIMM is a “hybrid model,” meaning it uses both market data and long-term fundamentals to simulate load, renewables, and California Independent System Operator (CAISO) spot market prices against which resources are dispatched and valued. To better capture the uncertainty in future conditions, a stochastic framework enabled simulation over a wide range of different future conditions, where market prices, weather patterns, renewable generation, and load significantly vary. To capture the risk associated with the distribution of portfolio costs (resulting from the stochastic simulation), a “risk premium” metric was calculated that indicates the cost at risk or the actuarial value of a portfolio’s exposure to market price volatility, variation in generation and load, and changes in weather conditions.

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7 This metric is the difference between the mean net present value (NPV) of cost and the 95th percentile of the NPV of cost. The results of this risk analysis are discussed in more detail in Section III.e. below. ii. Modeling Approach
In developing its models, SVCE first input its existing portfolio, historical generation data, cost projections, and other relevant data into the ARS module. To ensure that model results met the RA, RPS and GHG targets for each model run, Ascend Analytics built relevant constraints into the model to align with IRP compliance tools. After model runs were completed, SVCE added additional capacity in some years to ensure alignment with CSP and RDT compliance. Where additional capacity was needed, staff added it based on the implied marginal emissions value of the resources given CSP assumptions, while accounting for the reasonableness of overall build and expected costs.

Once assumptions were input, staff verified that modeled systems behaved as anticipated under alternative weather and pricing conditions. An economic dispatch study for every resource to assess costs, generation, and contribution to targets of interest was then run. These inputs were fed to the ARS module, which selected new resources based on minimizing the cost of procuring and operating new and existing resources while also meeting the constraints built into the model to ensure system requirements for RA, RPS and GHG constraints were met. After portfolios were selected, they were evaluated in PowerSIMM to understand their operational feasibility, cost, portfolio risk and the overall implications of the portfolio.

In addition to the conforming portfolio runs filed as part of this IRP, SVCE also completed several sensitivities intended to help inform this narrative. First, SVCE completed an additional ARS run utilizing SVCE’s internal load forecast. This is intended to highlight the build SVCE expects to need to achieve its portfolio targets based on its own future outlook. Additionally, this highlights the potential impact of load forecast error on long-term planning activities. Because the CPUC does not recognize alternative load forecasts as conforming cases, SVCE is not filing an RDT and CSP to accompany this scenario but rather presents the results solely for the purpose of discussion in the relevant narrative sections below.

SVCE also completed a scenario in which its share of the DWR Central Procurement Entity (CPE) allocations is added into its portfolio. Due to timing constraints, SVCE did not run a full ARS model to assess this scenario but rather input the resources in the CSP and removed ARS outputs until the GHG-free targets were met. SVCE describes this in further detail in Section IV.a.x.

Finally, SVCE input the Preferred Conforming Portfolio results into its in-house Slice of Day tool. SVCE completed this analysis initially for 2035, when SVCE’s “worst day” allocation is relatively predictable, to compare near-term IRP reliability results with the current RA compliance structure. An additional analysis was done using an estimate of SVCE’s 2045 worst day shape and portfolio to assess the ELCCs later in the compliance horizon. Results of this analysis are discussed further in Section III.f below. iii. Alternative Assumptions
After evaluation of RESOLVE cost assumptions, SVCE staff opted to utilize the cost curves developed by Ascend Analytics which more closely represent prices observed in recent Request for Offers (RFOs). This Item 2g
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8 price forecast has similar cost decrease trajectories to RESOLVE over time. For offshore wind, where staff did not have internal cost projections, SVCE utilized the ratio of cost between onshore and offshore wind in RESOLVE to develop an offshore wind cost for ARS.

Because ARS is designed to achieve the least-cost build, resource selection is driven largely by the relative price of resources in the model, not the absolute price. For this reason, SVCE expects that the resource build out is largely unaffected by use of Ascend’s price curves. The price curves are, however, relevant in assessing cost and risk in the portfolio as discussed below in Section III.e.

ARS also does not utilize ELCCs directly but rather uses an RA Slice of Day framework. It calculates the peak demand of SVCE’s load in every month-hour of the forecast and applies a PRM to find the RA constraint in each month-hour. It then finds the least-cost combination of resources required to satisfy that RA constraint (amongst others). The RA value of supply resources is based on CPUC supplied exceedance profiles, and the RA value of storage projects is based on their economic dispatch. SVCE opted to use an RA Slice of Day framework so that portfolios would best align with actual expected procurement practices. SVCE checked resulting portfolios against the reliability procurement requirement, using an ELCC approach, and added additional short-term fossil contracts as needed to ensure compliance with the IRP tools.

III. Study Results
a. Conforming and Alternative Portfolios
SVCE has chosen to submit two conforming portfolios for this IRP:
• Preferred Conforming Portfolio: This portfolio explores required resources to meet SVCE’s current Board adopted target of 75% RPS by 2030 and 100% RPS by 2035, while maintaining 100% GHG-free power on an annual basis.
• Alternate Conforming Portfolio: This portfolio explores a scenario in which 50% of SVCE’s load is on a minimum compliance product per SB 1020 guidelines, while the remaining 50% achieves SVCE’s current board adopted targets as laid out above.

SVCE’s Board of Directors has selected use of its adopted clean targets for its preferred portfolio as it is the portfolio that most accurately reflects SVCE’s intended procurement strategy going forward. This portfolio is consistent with SVCE’s Board-adopted procurement requirements and provides a diverse and balanced portfolio that achieves results consistent with SB 350’s reliability, GHG-reduction, RPS, disadvantaged communities (DACs), renewables integration, and other requirements. SVCE discusses its rationale for selecting this as its preferred portfolio in more detail in Section III.b below.

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9 Portfolios developed by SVCE as part of its 2026 IRP modeling exercise included all the resources SVCE had under contract as of April 1, 20264. In addition to the contracted resources, SVCE included its portion of the Cost Allocation Mechanism (CAM) allocation and assumed such resources would be allocated in similar quantities on a forward-going basis. Per SB 846, SVCE removed its allocation of the Diablo Canyon Power Plant in all years.

The following tables summarize the SVCE long-term resources included in all portfolios:

Table 1. Baseline SVCE contracts for preferred conforming and alternate conforming portfolios (Capacity, MW)
Resources 2030 2035 2040 2045
Hybrid [Generator] 662 662 429 80
Hybrid [Battery] 368 368 288 50
Geothermal 70 70 19 19
Onshore Wind 279 236 133 0
Storage 4h 24 24 24 0
Storage 8h 25 25 25 0
Table 2. Baseline SVCE Contracts by energy, contracted and planned (Energy, GWh) Resources 2030 2035 2040 2045
Hybrid 1929 2009 1296 241
Geothermal 439 424 131 131
Onshore Wind 859 720 374 1
Solar 72 54 7 5
Biogas/Biomass 8 6 1 0
Hydro5 431 13 10 10
In addition to known contracted resources, SVCE included generic capacity to meet its obligations under Decision 26-02-057 which required the agency to procure an additional 135 MW of net qualifying 4 Because SVCE’s procurement team was actively engaged in procurement at the time of modeling, SVCE’s baseline resources for modeling could not reflect changes to the portfolio after modeling commenced. SVCE has attempted to capture changes to the portfolio between April 1st and August 10th, 2026, including expected changes to its resources under development, in its filed RDTs where possible while still presenting results consistent with its modeling efforts.
5 Includes assumed hydro allocation from PG&E.

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10 capacity by 2032 as shown in Table 3. Staff estimated likely quantities and technology types based on initial review of offers from its 2026 New Build Carbon Free Energy & Storage Projects RFO, which closed March 4, 2026, as well as using broad market intelligence. Lacking ELCCs for resources under the new order, SVCE utilized the 2028 ELCCs developed by Astrape Consulting as a proxy for this order. Actual procurement for D.26-02-057 may vary meaningfully from these assumptions depending upon future market offers.

Table 3. Cumulative Generic Resources Added for D.26-02-057 (Capacity, MW) Resources 2030 2031 2032
Hybrid [Generator] 50 70 70
Hybrid [Battery] 50 70 70
Geothermal 5 15 25
Out-of-State Wind 0 0 110
Storage 8h 0 20 20
Each portfolio also assumed a portion of its procurement needs will continue to be met by short-term contracts from existing resources. SVCE assumed that a minimum of 15% of SVCE load should be met using short-term Index + RPS or Index + GHG-free contracts over the planning horizon. In recognition of tightening market conditions and more irregular hydrological conditions going forward, SVCE also capped the amount of short-term products in the portfolio at 35% per year. Given SVCE has historically procured 50% of its load utilizing such transactions, SVCE believes this represents a conservative view of market potential.

In addition to the resources above, SVCE allowed up to its load share allocation of the existing fossil fleet in the CPUC RESOLVE results to be used as generic RA resources to be procured on a short-term basis each year to meet its RA needs. As a post-processing step, SVCE “right-sized” the total contract amount of these RA resources for each portfolio to ensure that the portfolio was not over-procuring such resources. As discussed further in Section III.f below SVCE’s Preferred Conforming Portfolio requires less than its load share allocation of the existing natural gas fleet.

Table 4 and Table 5 below show the cumulative build for new resources in 2033, 2035, 2040 and 2045 for each portfolio. Across all scenarios, due to on-going activities related to existing procurement orders and the timing of new build, SVCE assumed no additional resources could be added to the portfolio prior to 2033 beyond those forced in for D.26-02-057 compliance.

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11 Table 4. Preferred Conforming Portfolio Cumulative Selected New Resources, excluding D.26 procurement orders (Capacity, MW)
Resource Type 2033 2035 2040 2045
In-state Wind 0 125 400 400
Out of State Wind 120 235 325 338
Solar 0 0 640 1520
Geothermal 0 77 77 300
Storage 4h 0 0 80 680
Storage 8h 0 0 0 0
Storage 12h 0 70 70 95
Total 120 507 1,592 3,332
Table 5. Alternate Conforming Portfolio Cumulative Selected New Resources, excluding D.26 procurement orders (Capacity, MW)
Resource Type 2033 2035 2040 2045
In-state Wind 0 10 400 400
Out of State Wind 25 233 323 325
Solar 0 0 265 1105
Geothermal 0 0 42 254
Storage 4h 0 0 0 550
Storage 8h 0 0 0 0
Storage 12h 0 0 65 70
Total 25 243 1,094 2,704
Figure 3 and Figure 4 below show the annual build-out for the Preferred Conforming Portfolio and Alternate Conforming Portfolio.

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12 Figure 3. Annual build-out for Preferred Conforming Portfolio Figure 4. Annual build-out for Alternate Conforming Portfolio Across both conforming portfolios, the model found a mix of onshore wind, geothermal, solar, storage and hybrid resources to be the most cost-effective way to meet its annual clean targets while also achieving the CPUC mandated emissions and reliability standards. In addition to meeting the model constraints, the diversity in the resource mix helps mitigate cost and market risks for any particular resource type.

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13 In its modelling, the emissions target was generally the most binding constraint, not the annual clean targets. This suggests the CPUC’s glidepath to 8 MMT is more binding than SB 1020 targets. Given the binding emissions constraint, the total difference in build out between the two conforming plans was largely driven by different procurement strategies due to different RPS and clean product assumptions.

While both conforming plans meet the CPUC emission target for SVCE, the Preferred Conforming Portfolio has a more accelerated timeline to reach 100% RPS and the Alternate Conforming Portfolio assumes 50% of load is served by minimum compliant products. This reduces the Alternate Conforming Portfolio’s need for RPS-eligible procurement, thus resulting in lower solar, geothermal, and storage build out compared to the Preferred Conforming Portfolio.

Table 6 below summarizes SVCE's Preferred Conforming Portfolio capacity selection results against its load share allocation of the Preferred System Plan (PSP) Portfolio.

Table 6. SVCE Preferred Conforming Portfolio Cumulative Buildout Compared to Load Share Allocation of 2025 Preferred System Portfolio from RESOLVE (MW)
Summing across all resource types, SVCE’s modeling results show less buildout than its load share allocation of the CPUC model results, particularly earlier in the forecast horizon and for solar resources.

However, SVCE’s portfolio results in higher build for in-state wind, geothermal, and four-hour storage.

To ensure portfolio diversity, reduce curtailment risk, and minimize system emissions across all hours, our analysis shows that wind resources provide more consistent emissions reductions value during critical hours while solar has increasingly diminishing value during critical hours. Therefore, disproportionately more wind and geothermal resources are selected to complement the portfolio.

While SVCE’s results for wind and geothermal exceed load share allocation from RESOLVE results, SVCE’s results are within the build limit assumptions for the RESOLVE model, especially when considering potential for Enhanced Geothermal (EGS) in the model.

SVCE notes that if LSEs 2026 individual filings all differ meaningfully from the RESOLVE results, the final CSP tool emissions may vary substantially from those in the 2026 compliance materials. Because SVCE’s 2035 2040 2045
Resource Type SVCE RESOLVE SVCE RESOLVE SVCE RESOLVE
In-state Wind 125 159 400 214 400 283
Out of State Wind 345 179 435 406 448 493
Solar 140 1,358 780 1,680 1,660 2,140
Geothermal 102 82 102 83 325 101
Storage 4h 140 112 220 114 820 175
Storage 8h 20 357 20 361 20 546
Storage 12h 70 100 70 207 95 220
Total 942 2,346 2,027 3,065 3,767 3,958
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14 portfolios were binding on the emissions target any changes to the CSP results could have meaningful implications for what SVCE’s actual least cost, best fit procurement needs may be and would materially impact what the organization should procure to best maintain affordability for its customers. b. Preferred Conforming Portfolio
SVCE’s Preferred Conforming Portfolio is consistent with the clean targets adopted by the Board of Directors in November of 2024. This portfolio best maintains SVCE’s goal of being 100% carbon-free on an annual basis while balancing the incremental clean energy benefits of long-term PPAs with customer affordability, portfolio risk, load uncertainty, and the need to reduce reliance on hydro resources over time. SVCE selected this portfolio for the following reasons:
• It is consistent with the SVCE Board-approved RPS target and GHG-free targets. • It puts SVCE on the most reasonable path toward the State’s 2045 emissions targets. • It has an accelerated timeline to reduce reliance on the existing natural gas fleet, relative to the alternate portfolio.

As explained further below, while SVCE views this as the most likely set of targets the agency will pursue, there remains significant uncertainty in load growth and technology availability which may materially impact actual portfolio development. Moreover, should the Commission continue to issue procurement orders based on load share, LSEs such as SVCE may be limited in what they can procure due to timing constraints and market offers.

In meeting the Board of Director’s clean targets, the Preferred Conforming Portfolio necessarily exceeds RPS requirements, including for RPS provided by long-term contracts. In order to meet the GHG-free reduction targets as established by the California Air Resources Board and determined through the CSP tool, SVCE’s portfolio also utilizes a diverse mix of resources which provide clean energy in the hours with high system emissions, reducing dispatch of the fossil fleet and thereby improving air pollutant quantities across the state, including within DACs. SVCE provides analysis on how it believes this build out is largely aligned with the 2025-2026 TPP Portfolio, along with potential additional transmission needed, in section III.m below.

In addition to achieving its clean targets, the Preferred Conforming Portfolio also demonstrates SVCE’s ongoing commitment to ensuring a reliable and affordable system. SVCE discusses how its Preferred Conforming Portfolio meets both goals in more detail in sections III.f and III.e, respectively, below. While SVCE utilized the default CSP shapes and required load forecast for the purposes of modeling, the organization’s commitment to load shaping and demand side energy management is discussed in detail in its Action Plan within this document.

Since 2022, SVCE has adopted new annual clean targets from the board which materially impacted the planning assumptions for this cycle. SVCE compares the 2026 Preferred Conforming Portfolio to the 2022 Preferred Conforming and 2022 100% RPS Alternate Conforming Portfolio below. These results show that on a purely name plate basis, SVCE’s 2026 build generally favors out of state wind and Item 2g
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15 geothermal at higher levels than its 2022 plan. However, it is also important to note that the baseline resource list upon which these results were derived is materially different. Specifically, SVCE has already procured sufficient capacity since 2022 to satisfy all the 2035 build out from its 2022 Preferred Conforming Portfolio, albeit with a moderately different resource mix. In other words, the 2026 IRP build is essentially incremental to SVCE’s 2022 IRP. The significant increase in build is due primarily to a 2035 assigned load forecast that is 68% higher in this IRP cycle than in 2022.

Figure 5. 2035 Results for 2026 Preferred Conforming Portfolio and 2022 Preferred Conforming and 2022 100% RPS Alternate Conforming Portfolio6
c. GHG Emissions Results
Both of SVCE’s conforming portfolios meet its assigned GHG-benchmarks in the CSP in all years. Because SVCE’s modeling generally showed the portfolios to be binding on the emissions constraint, there are limited differences between the emissions results of the two portfolios. However, the agency selected its preferred portfolio in part because it relies less heavily on long-term system power and ensures the agency continues to contribute meaningfully to new renewable project development.

SVCE assessed GHG-emissions results using both the default CSP profiles and internally developed profiles. SVCE developed custom hourly profiles in the CSP for non-commercial & industrial (C&I) 6 Graphic does not include generic resources included in portfolio for either D.21-06-035 (20022 IRP portfolios) or D.26-02-057 (2026 IRP portfolio).

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16 baseline, C&I baseline, electric vehicle (EV) load, building electrification (BE), data center load, behind-the-meter photovoltaics (BTM PV), and behind-the-meter storage (BTM storage). These profiles were developed based on SVCE’s internal load forecast. SVCE develops 8760 profiles for each load modifier it forecasts as part of its annual load forecast process7. This forecast includes expected changes to shapes overtime as various technologies mature and rate and program designs improve to encourage demand flexibility. Ultimately, SVCE found no significant difference between the default profiles and the internally developed profiles and so opted to proceed with the default profiles for better consistency with the CPUC’s inputs and assumptions. Table 7 and Table 8 below provide the GHG emissions results for its portfolios as provided by the CSP tool.

Table 7. Preferred Conforming Portfolio GHG Emissions
Unit 2030 2035 2040 2045
SVCE Target MMt/yr 0.44 0.35 0.30 0.16
CO2 MMt/yr 0.44 0.34 0.28 0.15
PM2.5 tonnes/yr 30 25 20 12
SO2 tonnes/yr 4 3 2 1
NOx tonnes/yr 46 41 20 13
Table 8. Alternate Conforming Portfolio GHG Emissions
Emissions Total Unit 2030 2035 2040 2045
SVCE Target MMt/yr 0.44 0.35 0.30 0.16
CO2 MMt/yr 0.44 0.35 0.27 0.15
PM2.5 tonnes/yr 30 26 19 12
SO2 tonnes/yr 4 3 2 1
NOx tonnes/yr 46 43 26 14
7 SVCE’s forecasting team develops forecasts for Behind the Meter PV, Behind the Meter Storage, Electric Vehicles, Building Electrification and Data Centers. SVCE does not currently model climate change impacts as a unique modifier and for internal purposes uses the CEC’s Energy Efficiency profile shapes as provided in the annual Integrated Energy Policy Report (IEPR) process.

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17 d. Local Air Pollutant Minimization and Disadvantaged Communities i. Local Air Pollutants
SVCE provides the results of the air pollutants for each of its conforming portfolios as shown in the CSP in Table 7 and Table 8 above. All SVCE C02 in the CSP tool come from system power and in front of the meter combined heat and power (IFM CHP). SVCE’s portfolio also includes small shares of biogas and biomass PM 2.5, SO2, and NOx emissions and pollutants which come solely from SVCE’s Voluntary Allocation, which the organization is using to help meet its RPS goals in a cost-effective manner. As noted in Section III.b above, SVCE selected its Preferred Conforming Portfolio in part because it best fits SVCE’s load to its clean energy supply, thereby reducing reliance on system power. ii. Focus on Disadvantaged Communities
SVCE used CalEPA’s designation of DACs for the purpose of SB 535 to identify DACs that are located within the SVCE service territory. This analysis indicates that SVCE serves 6,241 customers residing in 7 census tracts identified as DACs: 6085512602, 6085505202, 6085512603, 6085512604, 6085512310, 6085503214, and 6085504602. This represents approximately 2.2% of SVCE customers.

Note that census tracts 6085503214, 6085505202, and 6085504602 overlap with areas outside of SVCE service territory. The map below shows all 7 census tracts in red, trimmed to SVCE service territory boundaries. Per 2019 American Community Survey (ACS) population estimates, the population of these 7 census tracts is listed as 34,733, or 16,974 for census tracts completely within SVCE service territory and 17,759 for census tracts partially within SVCE service territory.

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18 Figure 6. Map of SVCE DAC Census Tracts, trimmed to SVCE service territory boundaries8 Outside of its territory and for the benefit of DACs across the state, SVCE’s primary strategy for reducing emissions and contributing to the economic development of DACs in its procurement practices is the aggressive procurement of zero-emissions renewable resources. When selecting power projects, SVCE considers whether proposed facilities are located within DACs or otherwise contribute to DAC economic development (for instance, by increasing employment opportunities for DAC residents).

This strategy is formalized in SVCE’s Power Purchase Agreement Project Selection Policy that is applied to SVCE’s procurement efforts. As part of the selection policy, SVCE specifies workforce development, environmental stewardship, and community engagement among the list of SVCE’s procurement goals.

SVCE prioritizes projects that support the local workforce, deliver benefits for air, water, and the natural environment, and demonstrate engagement with the local community to identify and address benefits and impacts or projects.

In totality, SVCE has nine projects located within 5 miles of a DAC:
• Angela Solar (solar + storage, Tulare County)
• Aratina (solar + storage, Kern County)
• Cameron Crest (wind, Kern County)
• Darden (solar + storage, Fresno County)
8 SB 535 Disadvantaged Communities Map. (2021). Ca.Gov. https://oehha.ca.gov/calenviroscreen/sb535 Item 2g
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19 • Glossy Garlic (solar + storage, Santa Clara County) • Hanford (natural gas peaker + battery storage, Kings County) • Mountain View Wind (wind, Riverside County)
• Ormat Portfolio (geothermal, Imperial County)
• Slate 2 (solar + storage, Kings County)
Figure 7. Map of SVCE projects within 5 miles of a DAC9 SVCE has signed two PPAs located within a DAC census tract. The first is a solar plus storage facility called RE Slate (“Slate”), which is located in Kings County. In addition to the Slate project, in 2023 SVCE signed a contract for the Hanford Hybrid Power Plant, also located in Kings County. The Hanford Hybrid Power Plant is a hybrid natural gas peaker power plant and battery energy storage system that SVCE contracted to ensure that SVCE can meet its RA program obligations. SVCE’s contract with the facility enabled the addition of the battery energy storage system to the existing gas peaker power plant to reduce the run time of the peaker power plant. This is direct evidence of SVCE’s work to support reduced reliance on fossil-fueled power plants located within DACs. 9 SB 535 Disadvantaged Communities Map. (2021). Ca.Gov. https://oehha.ca.gov/calenviroscreen/sb535 Item 2g
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20 Although GHG and criteria pollutant emissions from the Hanford project are expected to decrease because of the addition of the battery energy storage system, as part of this contract approval, the SVCE Board of Directors also required staff to establish guidelines for a fund to mitigate emissions from the occasional operation of the peaker portion of the plant to support grid reliability. SVCE discusses the Hanford Hybrid Plant Emissions Mitigation Fund in greater detail in section IV.b below. SVCE’s Power Purchase Agreement Project Selection Policy and the establishment of the Hanford Hybrid Plant Emissions Mitigation Fund demonstrate SVCE’s commitment to thorough evaluation of its procurement impacts and to mitigating impacts when necessary to support improved local air quality and lessen GHG emissions while benefiting DACs.

SVCE’s existing RA contracts are primarily from natural gas units which may be located in or near a DAC area. To the extent compatible with RA program requirements and cost-effectiveness, SVCE prefers capacity contracts from generators that do not have emissions impacts on DACs such as those from Distributed Energy Resources (DERs), renewable and carbon-free resources. To this end, SVCE has been aggressively signing new PPAs which provide both energy and capacity to SVCE to help meet its RA requirements.

As discussed more fully in Section IV.b below, SVCE's Board of Directors is made up of elected officials representing each of the thirteen member agencies in the SVCE service area. Decisions related to SVCE's procurement and strategic planning are made by these elected officials in the interest of their constituents, including those in DACs. SVCE staff regularly meets with the Board to discuss matters related to long-term planning for both SVCE and the system at large. SVCE staff utilized feedback from the Board in development of this IRP, which was ultimately reviewed and approved by the Board of Directors on June 10, 2026.
e. Cost and Rate Analysis
As a California CCA operating in an environment where customers have choice, whether it’s returning to the incumbent utility, participating in direct access or bypassing SVCE with BTM PV, SVCE is acutely aware of the need to manage cost and maintain competitive rates. SVCE’s rates are currently indexed to PG&E’s rates for each respective rate offering approved by the CPUC. SVCE’s governing board establishes a discount and/or premium to PG&E’s rate based on the adopted fiscal year operating budget, assumed commodity cost uncertainty and financial reserve targets. Operating budget and rates may be adjusted at mid-year. Reserves are used to cover costs above budget to maintain rate stability.

SVCE’s value proposition since its inception has been to provide affordable and annually carbon-free product offerings to its customers. GreenStart is SVCE’s default product offering, comprised of a mix of RPS and other carbon-free resources, which since inception has been offered at a discount to PG&E’s bundled generation rates of three percent on average. GreenPrime is SVCE’s opt-up product which is made up of 100% RPS eligible resources and is offered at a small premium to GreenStart.

SVCE provides additional bill credits to California Alternate Rates for Energy Program/Family Electric Rate Assistance Program (CARE/FERA) (income qualified) customers. 10% of SVCE’s residential Item 2g
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21 customers are CARE/FERA, and these bill credit amounts from SVCE represent an additional generation rate discount of approximately 20%. SVCE describes its CARE/FERA program in more detail in Section IV.b below. SVCE will continue to pursue affordability to end users along with building a robust green portfolio aligned with SVCE’s mission.

Fundamental to achieving SVCE’s product and rate objectives is SVCE’s ability to procure cost-effective electric supply resources and manage the cost and risk associated with its load and supply portfolio.

This starts with the proper evaluation and selection of resources acquired to meet SVCE’s long-term renewable needs, which make up a large portion of the supply portfolio. In evaluating the addition of new or existing resources to the SVCE generation portfolio, SVCE utilizes both quantitative and qualitative metrics. SVCE evaluates the resource value as determined by its net energy (including congestion), ancillary service (A/S), RA and RPS/REC value and compares it to the contract cost. In addition, SVCE assigns qualitative metrics including a resource’s generation profile, location, workforce development and technology type. SVCE then measures the resource’s benefits against its costs to determine whether it is cost-effective and to assess an implied REC cost.

After a resource has been analyzed to be cost-effective, it is then incorporated and modeled with SVCE’s existing portfolio to determine the overall portfolio’s return/risk ratio. The return/risk ratio analysis will account for portfolio dynamics including:
• Resource performance against SVCE’s hourly load obligation; • Basis locational price differential between the resource and SVCE Default Load Aggregation Point (DLAP); and
• Variability in production from resources and forward and spot price uncertainty.

Resources that increase the portfolio’s gross margin NPV while decreasing the gross margin at risk (as measured by the mean gross margin NPV minus the P5 gross margin NPV) are considered resources for further consideration.

In addition to the process described above, SVCE also assesses the compliance and strategic value a resource may provide. Resources are evaluated on their ability to:
• Meet California mandated procurement requirements;
• Contribute to system wide emissions reductions by contributing clean energy in hours where carbon emissions are the highest;
• Provide local benefits to its member communities;
• Mitigate portfolio concentration risk (price, technology, counterparty and/or location); and • Provide for overall grid reliability.

SVCE is subject to significant cost volatility and uncertainty in meeting its energy load obligations within the CAISO. To manage this cost, SVCE’s governing board has adopted an Energy Risk Management Policy (ERMP). Included in the Policy are tolerance bands for minimum and maximum amount of load to be met through forward purchases of fixed-price energy (Table 9). These transactions are carried out with Board-approved counterparties and for the most part are sourced through generic resources priced at the PG&E EZ-Gen Hub or NP15 delivery point. In 2025, the SVCE Board adopted changes to its ERMP Item 2g
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22 to account for the hedge value that PG&E’s portfolio provides by way of the PCIA. Without the recognition of the inclusion of the PCIA as a hedge, SVCE runs the risk of being long relative to load and thus increasing risk to its customers.

Table 9. SVCE Board Approved Energy Risk Management Tolerance Bands (Fixed Price Supply as a % of Load)
Period Minimum Maximum
Current Balance of Year 80% 110%
Year 2 70% 90%
Year 3 55% 80%
Year 4 50% 80%
Year 5 50% 80%
Taking a portfolio approach of varying new and existing projects, technology, location, contract tenor, counterparties and contract pricing structures in its pursuit of long-term RPS resources along with having a rigorous energy risk management program to manage load obligations and supply portfolio cost and risk ensures that SVCE can meet its near and long-term cost, rate, and financial objectives.

In development of this 2026 IRP, the SVCE team completed cost and risk analysis for both the Preferred Conforming Portfolio and Alternate Conforming Portfolios. The results of this evaluation are included in Figure 8 below. The Preferred Conforming Portfolio is expected to result in marginally more expensive power supply costs than the Alternate Conforming Portfolio, with an approximately 4% higher expected cost. This is largely driven by additional procurement of resource build out at prevailing new asset build expected prices that are strong in spite of a fundamental expectation future spot prices for the resource revenue stacks. Cost assumptions for each of these categories are subject to uncertainty. However, the costs are similar across portfolios and subject to variance dependent on future RFO offer prices and market conditions. In spite of modestly higher cost for the procurement, the Preferred Conforming Portfolio yields lower cost at risk than the Alternate Conforming Portfolio due to fewer short-term market transactions and creation of more price certainty through higher contracting levels. This tradeoff between cost and risk, when combined with the system value of the clean energy build, was deemed to be more desirable in the Preferred Conforming Portfolio.

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23 Figure 8. SVCE Expected NPV Cost and Risk for Preferred and Alternate Conforming Portfolios Given the potential differential between model assumptions and actual market conditions, SVCE will continue to evaluate offers as solicitations occur in the future. In signing actual contracts, SVCE will balance both clean energy attributes with affordability measures to ensure cost effectiveness for the portfolio in order to maintain affordability for our customer base.

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24 f. System Reliability Analysis
As noted in Section III.a.ii above, SVCE “right sized” short-term RA contracts to meet the RA needs of the portfolio each year. For this reason, SVCE achieves a near net zero position in both conforming plans.

The results of each conforming portfolio’s RA supply stack by contract status are below.

Table 10. Preferred Conforming Portfolio RA Results
2030 2035 2040 2045
SVCE reliability need (MW)
ELCC by contract status (effective MW)
Online
Development
Review
Planned Existing
Planned New
BTM PV
SVCE total supply
Net Position 1 2 1 0
Table 11. Alternate Conforming Portfolio RA results
2030 2035 2040 2045
SVCE reliability need (MW)
ELCC by contract status (effective MW)
Online
Development
Review
Planned Existing
Planned New
BTM PV
SVCE total supply
Net Position 7 7 4 4
SVCE’s RA requirements are met by proportionally fewer existing resources in later years in both portfolios, however the higher new resource build in the Preferred Conforming Portfolio ensures lower reliance on existing resources in that scenario. In its preferred scenario SVCE utilizes less than its load share allocation of the existing fossil fleet to meet its RA requirements. Part of the reason SVCE views Item 2g
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SVCE IRP Plan - Redacted
25 the Preferred Conforming Portfolio as more suitable than the Alternate Conforming Portfolio is because of its lower reliance on the existing fossil fleet.

Figure 9. Share of reliability needs met with natural gas fleet In addition to assessing reliability compliance with the IRP RDT, SVCE conducted analysis to compare the outputs of the IRP compliant reliability portfolio with its own Slice of Day tool. For this, SVCE modelled two study years: 2035 and 2045. SVCE did not attempt to alter the overall “worst-day” shape given the uncertainty in future peak and so applied a scaler to its current obligation based on the total change in load and assumed an 18% PRM.

As shown in Figure 10 below, SVCE found that despite the RDT showing sufficient capacity in 2035, the model results indicate that the portfolio may be short capacity by approximately This suggests a potential misalignment between the IRP ELCCs and likely SOD accounting rules within the next decade.

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26 Figure 10. Summer 2035 SOD analysis for Preferred Conforming Portfolio In reviewing the 2045 results, as shown in Figure 11 below, SVCE found that by the end of the forecast horizon the ELCCs may be too conservative. Specifically, SVCE found that while its RDT results showed a nearly perfect net zero position, under SOD the portfolio was slightly long in many hours following the battery optimization.

Figure 11. Summer 2045 SOD analysis for Preferred Conforming Portfolio While SVCE found inconsistencies in how ELCCs and SOD metrics vary across the time horizon, the broader lack of alignment speaks to potentially meaningful issues with using differing metrics across RA, Item 2g
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27 IRP planning and IRP procurement. 2026 LSE IRP plans will, by necessity, meet the IRP planning reliability targets. However, actual procurement activities will depend on LSE evaluation of best fit to its portfolio given the LSE’s needs under slice of day, and, as long as they are in place, the ELCCs used for procurement orders.

SVCE strongly advocates for the use of one reliability metric across RA and IRP procurement and planning. As discussed in SVCE’s Reliable Clean Power Procurement Program (RCPPP) proposal, each new constraint introduced into a procurement team’s portfolio optimization necessarily reduces the feasible solution set and removes lower cost portfolio solutions for our customers. While marginal ELCCs may speak to the marginal value of resources to the system needs, SOD already captures the marginal value of a resource to an LSE’s portfolio. So long as the rules of the RA program are sufficient to create the desired level of system reliability, there is no need for an additional metric in the IRP space.
g. Existing Resource Planning
In developing its inputs and assumptions, SVCE worked to create a defendable balance of resources utilizing existing and new resources based on its experience transacting in the market and in procuring new resources. In all portfolios, the majority of SVCE’s energy and capacity needs were met by resources already under contract or added into the portfolio as planned new resources. However, it is an important part of SVCE’s risk management strategy to balance its portfolio with a mix of new and existing resources as well as short and long-term contracts.

For the purposes of this IRP cycle, SVCE required that each year the portfolio meets its energy needs with a minimum 15% and a maximum of 35% short-term product in all years post-2030. In post-processing of model results, SVCE allowed a violation of the short-term product cap in 2030 given likely challenges in achieving additional new build in that time combined with an aggressive near-term load forecast and in recognition that allocations from Diablo Canyon, which were not modelled per SB 846, will likely satisfy a portion of the portfolio’s clean energy needs. The model selected either Index plus PCC1 contracts or energy only hydro contracts to meet this requirement, depending on what it found most cost effective given the forecast price for the resource and the portfolio’s RPS targets. Across all scenarios, the model generally found it cost effective to utilize short-term products to the extent allowable. This strategy of procuring short-term resources is consistent with SVCE’s Board directive to diversify procurement tenors to manage risks. SVCE believes the resources to meet this procurement objective may be sourced from other LSEs portfolios and/or merchant renewable resources.

Relative to its 2022 IRP, SVCE is meeting approximately the same share of its energy needs with short-term products in 2035 as shown in Table 12 below.

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28 Table 12. Comparison of energy needs met by short-term existing contracts across different portfolios 2030 2035
2022 IRP
Preferred
Preferred
Plan
Alternate
Plan
2022 IRP
Preferred
Preferred
Plan
Alternate
Plan
PCC 1 12% 11% 11% 12% 22% 11%
Hydro 22% 33% 33% 25% 13% 23%
Total 34% 44% 44% 37% 35% 33%
SVCE finds these assumptions to be reasonable given the total REC purchases amount to less than 20% in 2030 and 40% of in 2035 of its implied load share of the assumed 2026 renewable generation in the RESOLVE results. As discussed further in Section III.h below, the total utilization of the hydro fleet also was deemed reasonable. SVCE also discusses use of the existing fossil fleet for reliability purposes in Section III.f above. Taken in totality SVCE deemed the results reasonable given the organization has historically been able to procure more than 35% of its energy needs through the short-term market and more than 50% of its RA needs from existing fossil.

Figure 12. Comparison of contracted existing, short-term existing capacity to new capacity across portfolios
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SVCE IRP Plan - Redacted
29 Per SB 846, SVCE ignores its allocation of the Diablo Canyon Power Plant in all years. As described in Section III.h below, this means SVCE is likely to utilize attributes guaranteed to it via SB 846 through at least 2030, reducing its reliance on other system resources and resulting in lower market purchases of GHG-free and PCC1 products.
h. Hydro Generation Risk Management
Historically, SVCE has relied heavily on a significant amount of purchases of GHG-free energy from hydro generators to maintain its Board approved goal of being carbon free on an annual basis. Since its 2022 IRP, SVCE has actively worked to reduce its reliance on short-term purchases of GHG-free energy through its growing portfolio of long-term contracts for renewable resources. This portfolio includes both geothermal resources that can deliver baseload generation and long-duration storage which can effectively utilize renewable energy during peak hours. Additionally, in adopting its current clean targets, staff highlighted the value of emphasizing RPS resources as a means of reducing long-term hydro reliance. SVCE’s current board adopted target of 100% RPS by 2035 on a retail sales basis, means the organization will rely on hydro resources solely to cover line losses to meet its clean targets.

Currently, SVCE receives a significant portion of its hydro power from its allocation of PG&E’s fleet. Staff monitors the snowpack and expected hydro conditions in California throughout the year and adjusts its forecast of expected allocations accordingly throughout the year and issues RFOs for additional GHG-free attributes to meet its clean goals as needed. For the purposes of this IRP, SVCE did not assume that PG&E would continue allocations past 2030, as SB100 becomes binding, and instead assumes market purchases of other in-state or Pacific Northwest Hydro past that point. In pursuing such contracts SVCE attempts to execute firm contracts to provide certainty on hydro deliveries from suppliers who will only sell specified quantities of resources versus a unit contingent contract that is subject to the vagaries of hydrological conditions. SVCE is able to mitigate its hydrological delivery risk by diversifying the regions from which it procures large hydro. In addition, SVCE is inserting language into contracts that specify that the supplier provide hydrological statistics (storage levels and acre/ft conversions) at certain times of the year for SVCE to better forecast future deliveries. For the portion of hydro supply provided from non-firm resources, SVCE will assess the variability of the resources under various precipitation and hydrological conditions and will rebalance its portfolio with firm carbon-free and/or RPS resources to meet its 100% carbon-free annual goal.

SVCE contracts for hydro resources through a mix of counterparties and for varying terms to manage risk associated with counterparty default on hydro resources. SVCE’s goal is to secure a large portion of its large hydro needs under short-term contracts typically of a maximum of three- to five-year tenures; however, it continues to explore longer-term contracting for small hydro facilities.

Figure 13 compares the amount of hydro generation in each conforming portfolio against SVCE’s load share allocation of the 2025 PSP hydro assumptions. Though the organization utilizes more than its implied load share allocation of the resource fleet, its share of energy needs met by hydro fall over time.

This reliance on hydro is driven in part by the significantly higher load forecast used in this IRP cycle Item 2g
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30 relative to the prior IRP, which increases the amount of GHG-free energy needed to maintain the agency’s clean goals and meet GHG emissions targets. In all scenarios, SVCE uses less than its historical reliance on hydro to meet its clean goals.

SVCE recognizes that imported hydro has risks around the changing hydrological conditions of the Western US, deliverability constraints during peak periods, and market competition. As such, SVCE is actively managing these risks through diversified procurement, deploying other clean firm resources when available, and hydrological monitoring. Additionally, in adopting its annual clean targets the Board allowed for some margin of error in instances where supply cannot be found or is deemed unreasonably costly to procure.

SVCE notes that as part of its 2026 IRP assumptions, it does not include any allocations from the Diablo Canyon Power Plant despite them being expected at least through 2030, per SB 846 (Dodd). Given the organization expects to receive both RA and GHG-free value from the plant, actual hydro needs in the near-term to meet its GHG-free goals are likely to be about 10% lower than shown in Figure 13 below for 2030. The 2035 results may differ significantly depending on whether the plant sees a further extension and upon the mechanism(s) for attribute allocations.

Figure 13. Comparison of hydro generation for 2022 and 2026 IRP portfolios and SVCE’s load share allocation of the 2025 RESOLVE results
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31 i. Long-Duration Storage Planning
SVCE included long-duration energy storage (LDES) as a candidate resource in the modeling exercise to develop conforming portfolios this cycle. Modest quantities of 12-hr LDES were selected by the model starting in 2035 and included in both portfolios. As noted in Section IV.a.ii below, SVCE has contracted long-duration storage to meet its requirements under D.21-06-035. Based on the results from recent solicitations and the order requirements SVCE also assumed LDES would satisfy a portion of the recent procurement order (D.26-02-057) and forced generic LDES into the portfolio prior to 2032.

In 2025 SVCE signed the Willow Rock Compressed Air Energy Storage project through its partnership with California Community Power (CC Power). The 500 MW facility is expected to come online in 2030.

SVCE signed this contract in part in recognition of the value of supporting emerging technologies and increasing technological diversity on the system, especially non-lithium ion-based storage technologies.

SVCE continues to assess the value of long-duration storage as part of its portfolio planning process and included it as a candidate resource in its capacity expansion modeling. A primary benefit of LDES is its ability to be sited far more broadly than either geothermal or wind resources. If insufficient transmission capacity is made available for the wind and geothermal assumed in SVCE’s portfolio, the agency may procure more LDES than shown in its preferred plan in order to meet its procurement needs.

SVCE’s 2022 IRP did not include any long-duration storage beyond what was required to meet its obligations under D.21-06-035. Selection of LDES in the portfolio this cycle is likely driven not only by the significant increase in the forecasted load, but also due to use of the Slice of Day framework for its modeling efforts this cycle.
j. Clean Firm Power Planning
As part of its 2026 IRP planning efforts, SVCE included both geothermal and biomass as candidate resources. Despite the relatively high costs of the resources, the model consistently selected high levels of geothermal to meet its procurement needs due to its ability to reduce reliance on system power and provide RA.

SVCE’s Preferred Conforming Portfolio selected 325 MW of additional geothermal by 2045, more than two-thirds of which come online after 2040. While this exceeds SVCE’s implied share of the CPUC’s RESOLVE results, only 101 MW10, SVCE has consistently seen value in clean, firm resources in its 10 While RESOLVE selected approximately 4 GW of geothermal by 2045, the CPUC's I&A allowed for more build, especially when including advanced geothermal resources. 2024 – 2026 Integrated Resource Planning (IRP) Inputs and Assumptions. (2026). California Public Utilities Commission. https://www.cpuc.ca.gov/-/media/cpuc-website/divisions/energy-division/documents/integrated-resource-plan-and-long-term-procurement-plan-irp-ltpp/2024-2026-irp-cycle-events-and-materials/2025_inputs_and_assumptions_report_20260210.pdf Item 2g
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32 portfolio and supports the State in developing the infrastructure to accommodate development of such technologies, including potentially reserving deliverability for geothermal projects in the transmission planning process (TPP).

Given the only “clean firm” resources provided to the model were geothermal and biomass, SVCE views their selection in the later years of the planning horizon as a proxy for generic clean firm resources.

While the organization may use geothermal and biomass to meet these needs, SVCE also continues to monitor and explore the portfolio value emerging technologies may be able to provide going forward, as discussed further in Section IV.a.ii below.

SVCE currently satisfies approximately 18% of its energy needs with geothermal resources and has long recognized the diversity benefits of these clean firm resources. These geothermal resources will help SVCE meet its decarbonization and electrification goals by providing a 24x7 source of carbon-free energy, which can help reduce reliance on natural gas resources.

SVCE is a member of CC Power, a joint procurement agency comprised of nine CCAs. CC Power recently announced Geothermal Exploration, Offtake and Development Engagement (GEODE) agreements with three geothermal developers with innovative approaches to development targeted at unlocking scale-up of in-state geothermal capacity11. CC Power sees these proactive relationships between off takers and industry as pivotal in overcoming the commercial and infrastructure challenges geothermal opportunities face. Additionally, as a joint procurement entity representing 30,000 GWh of collective annual load, CC Power is able to engage with a larger diversity of developers and opportunities with different risk profiles than what could be pursued by an individual load serving entity. While total geothermal capacity values in the Preferred and Alternate Conforming Portfolios represent modelled results, SVCE has mapped that capacity in its RDT to several potential GEODE agreements to help ensure the projects are prioritized in CAISO’s TPP. These projects are principally focused on development opportunities in Northern California to avoid import constraints.

Despite the high portfolio value of geothermal resources, SVCE has seen significant challenges with site development due to limited locations and costly transmission upgrades required. EGS may provide opportunities for geothermal development more broadly, but it remains an emerging technology with increased risks. SVCE will also continue to monitor the characteristics of EGS offerings, specifically whether facilities can provide dispatchability and flexibility akin to natural gas plants. Depending on contract structure, such facilities could provide a valuable energy hedge to the portfolio.

Following the issuance of the MTR order, SVCE has consistently sought geothermal resources through its solicitation processes, both on its own and through CC Power. SVCE has procured additional 11 CC Power Signs 3 GEODE Agreements to Incentivize California Geothermal Development. (2026).

Cacommunitypower.Org. https://cacommunitypower.org/cc-power-signs-3-geode-agreements-to-incentivize-california-geothermal-development/.

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33 Geothermal since its 2022 IRP to meet this order. SVCE has seen significant increases in geothermal prices following the MTR order which the agency suspects is due to developer market power.

Uncertainty around the actions of the CPE may also impact the market as some developers could be holding sites from the market in anticipation of a new order. Additionally, increased demand from large corporations, including technology companies seeking to power data centers, is impacting available supply. SVCE continues to view clean firm resources as a necessary component of a clean, reliable electricity system, but cautions the Commission on including similar resource carve-outs in future procurement orders due to the impact on affordability for customers.

SVCE’s 2026 Preferred Conforming Portfolio selects significantly more geothermal than its 2022 plan, which ranged from 7 to 27 MW depending on the scenario. This is likely driven by the significant increase to the load forecast relative to 2022 as well as the expanded time horizon and lower allowable emissions in later forecast years.
k. Non-CAISO, including Out-of-State, Wind Planning
As with other resources selected in the PSP, SVCE modeled out-of-state wind (OOS wind) as a candidate resource for its 2026 IRP portfolios. In both conforming plans, OOS wind was selected. To ensure alignment with the IRP modeling assumptions, SVCE created candidate resources for Wyoming, New Mexico and Pacific Northwest wind. SVCE staff limited the wind build out based on observations from the market and review of the IRP inputs and assumptions. The Preferred Conforming Portfolio selected nearly 850 MW of wind, both in- and out-of-state by 2045. Of this, just over half, 448, was OOS wind.

This is slightly less than SVCE’s implied load share of the RESOLVE results. This does mean that SVCE assumes more than its load share allocation of in-state wind development but notes it may be viable given likely repowers on the system in the coming years. If SVCE cannot find sufficient in-state wind to meet its obligations, it may ultimately procure more out-of-state wind, if available, given the overall similar contributions to energy, emissions, and capacity. Across all model runs, SVCE consistently found OOS wind to be a beneficial resource for its portfolio due to its ability to offset evening emissions, provide reliability and contribute to annual clean targets at a relative discount to full firm clean resources such as geothermal.

SVCE has had bilateral discussions with developers for OOS wind resources, however transmission and cost continue to be a major barrier. Such opportunities are evaluated alongside others and are not penalized for being out-of-state as long as they can deliver to the CAISO. The viability of the project given the development stage of the transmission project and the ability to acquire import capacity rights is factored into the evaluation especially if the project is needed to meet specific procurement targets such as SB 350. SVCE discusses its evaluation of transmission availability more thoroughly in Section III.m below.

Given the substantial barriers to development of out of state wind, and the timelines associated with development of transmission, SVCE encourages the CPUC and CAISO to explore means to also enable development of the remaining wind sites within California, which may include reserving deliverability for Item 2g
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34 the technologies such as wind and geothermal that have site specific fuel requirements in the TPP.

Additionally, SVCE urges the Commission to ensure that LSEs have proper incentives to repower existing California wind sites by ensuring they are given compliance value in the RCPPP. Despite potential barriers, given the potential cost effectiveness and diversity benefit of OOS wind to the CAISO system, SVCE supports the inclusion of OOS wind in the 2026-2027 IRP PSP as a means to help assess the pathway toward building sufficient transmission to allow these resources in the CAISO’s TPP.

Since its 2022 IRP, SVCE signed 125 MW of the SunZia wind project located in New Mexico. This 3,650 MW project came online in May of 2026. The capacity of SunZia satisfies nearly all of the 130 MW selected by 2035 in SVCE’s 2022 IRP. SVCE’s 2026 IRP selects 448 MW of OOS wind in this year’s Preferred Conforming Portfolio by 2045, incremental to the SunZia project. This shows a consistent pattern of wind being a desirable resource for the portfolio. The primary factor driving the overall increase in the portfolio is the load forecast, which is 68% higher in 2035 in this 2026 IRP than it was in 2022. SVCE continues to find that OOS wind is more desirable due to its higher capacity factor than in-state wind, but as noted above, recognizes long-term transmission development may meaningfully impact resource availability.
l. Offshore Wind Planning
In its 2026 modeling for the IRP SVCE included offshore wind as a candidate resource, utilizing the wind profiles provided by the CPUC in the RESOLVE and CSP tools. Because Ascend has no cost projections for offshore wind, SVCE developed costs by scaling the Ascend onshore wind costs in the ARS model based on the ratio of on and offshore wind costs provided in RESOLVE. The ARS capacity expansion tool did not select this resource in any of the scenarios modeled, likely due to its cost relative to out of state wind resources which provide many of the same attributes. This finding is consistent with SVCE’s modeling efforts in its 2022 IRP. In addition to modeling results, SVCE staff also considers offshore wind in California to have significant development risk which makes it an unfavorable resource for the portfolio.

SVCE did consider the impact of offshore wind procurement by DWR on its portfolio as discussed in Section IV.a.x below. Should the Commission order offshore wind, it would likely have significant impact on LSEs actual procurement activities going forward. Given the risk of delay or failure of emerging technologies such as offshore wind, SVCE encourages the Commission to carefully consider how to ensure LSEs collectively balance ongoing procurement of both proven and emerging technologies to manage risks and help ensure affordability for California ratepayers.

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35 m. Transmission Planning
Transmission needs for contracted resources
SVCE summarizes known transmission upgrades for its resources under contract in Table 13 below.

Table 13. Known transmission upgrades for SVCE contracted resources.

Project
Name
Resource
Type
Location Queue
Position
Station or
Transmission
Line
Interconnection
Agreement?
Known
Transmission
Upgrades
Estimated
Online Date
Aratina
Solar +
Storage
Kern
County,
CA
1604
San Luis
West
Solar +
Storage
Fresno
County,
CA
1389
Fish Lake Geothermal
Esmerelda
County,
NV
Ormat
Nevada
Geothermal
Various
(CA & NV)
Ormat
Nevada -
Dogwood
Geothermal Imperial
County,
CA
Ormat
Nevada -
Truckhaven
Phase 1
Geothermal Imperial
County,
CA
Item 2g
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36 Grace Solar Riverside,
CA
1761
Yellow Pine
III Storage
Clark
County,
NV
1654
Garden
Green
Solar +
Storage
Santa
Clara
County,
CA
2358
Darden
Solar +
Storage
Fresno,
CA
1949
Willow
Rock
Compressed
Air Energy
Storage
Kern
County,
CA
1782
SVCE has developed its 2026 Preferred Conforming Plan resource portfolio to ensure consistency with the transmission planning assumptions and framework established by the CPUC in its IRP proceeding and by the CAISO in its annual TPP.12 Although the CPUC requirements identify the CAISO 2024-2025 12 2026 Narrative Template. (2026, January 16). California Public Utilities Commission. https://www.cpuc.ca.gov/- /media/cpuc-website/divisions/energy-division/documents/integrated-resource-plan-and-long-term-Item 2g Attachment 1
SVCE IRP Plan - Redacted
37 Transmission Plan and the 2025-2026 TPP busbar mapping results as the most recent reference points, SVCE has elected to apply a more conservative benchmark by also evaluating consistency against the most recent CAISO 2025-2026 Transmission Plan13 and CPUC Recommended Base Case Portfolio for the 2026- 2027 TPP, as reflected in the busbar mapping dashboard dated January 14, 2026.14 This forward-looking benchmark provides additional assurance that SVCE's portfolio remains consistent with the most current resource and transmission expectations.

Consistent with CPUC guidance, SVCE has reviewed and relied upon the following sources in developing this discussion:
• CAISO Transmission Capability Estimates White Paper, Version 2024 (August 2024)15 • CAISO 2025-2026 Transmission Plan (most recently approved Transmission Plan)16 • CPUC Assumptions for the 2026-2027 TPP – Final Modeling Assumptions Report and Final Busbar Mapping Results (February 2026)17
• CAISO Data Transparency Matrix and Points of Interconnection (POI) Heat Map18 • CAISO Transmission Development Forum materials19
procurement-plan-irp-ltpp/2024-2026-irp-cycle-events-and-materials/2026-narrative-template.docx Transmission Planning Section, 2026 IRP Filing Requirements. 132025-2026 Transmission Plan. (2026). California Independent System Operator. https://stakeholdercenter.caiso.com/InitiativeDocuments/Board-Approved-2025-2026-Transmission-Plan.pdf. 14Dashboard for the Busbar Mapping of the 2026-2027 TPP Base Case Portfolio. California Public Utilities Commission. Retrieved July 16, 2026, from https://www.cpuc.ca.gov/-/media/cpuc-website/divisions/energy-division/documents/integrated-resource-plan-and-long-term-procurement-plan-irp-ltpp/2024-2026-irp-cycle-events-and-materials/assumptions-for-the-2026-2027-tpp/final-full-dashboard-for-the-decision-26-27-bc.xlsx 15Transmission Capability Estimates for use in the CPUC’s Resource Planning Process. (2024). California Independent System Operator. https://www.caiso.com/documents/transmission-capability-estimates-white-paper-2024.pdf. 162025-2026 Transmission Plan. (2026). California Independent System Operator. https://stakeholdercenter.caiso.com/InitiativeDocuments/Board-Approved-2025-2026-Transmission-Plan.pdf. 17Resource-to-Busbar Mapping & Other Modeling Assumptions for the 2026-2027 Transmission Planning Process. (2026). California Public Utilities Commission. https://www.cpuc.ca.gov/-/media/cpuc-website/divisions/energy-division/documents/integrated-resource-plan-and-long-term-procurement-plan-irp-ltpp/2024-2026-irp-cycle-events-and-materials/assumptions-for-the-2026-2027-tpp/report_redline.pdf. 18Points of interconnection heatmap. (2026). Caiso.Com. https://www.caiso.com/poi-heatmap/. 19Senate Bill 1174 requires the CPUC, CEC, and CAISO to assess and report on transmission system delays and constraints impacting clean energy development. To facilitate this, CAISO hosts biannual Transmission Development Forums to provide actionable, project-by-project status updates on approved transmission projects Item 2g
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38 • CPUC Transmission Project Review Process
Where information from these sources was not directly applicable to SVCE's Preferred Plan, the rationale is explained below. SVCE's 2026 IRP filing also builds on its prior 2022 IRP transmission discussion, which demonstrated consistency with the CAISO 2022-2023 TPP.

Transmission Needs for Planned Resources
SVCE's Preferred Conforming Portfolio, as reflected in the RDT and supporting data includes the new build resources between 2027 and 2045 as shown in Table 14 below.

Table 14. SVCE Planned Resource Build 2027 through 2045 Resource Type Total New Build (MW) Mapped CAISO Study Area Through 2036 Through 2045 Solar – Northern CA 0 500 PG&E NGBA / GBA /
Fresno/Kern
Solar – Southern CA 0 350 SCE Eastern / SCE Northern
In-state Wind – Northern CA 125 250 PG&E NGBA / GBA
In-state Wind – Southern CA 0 150 SCE Eastern / EOP
OOS Wind – Wyoming 35 47.5 via SCE interties
OOS Wind – New Mexico 350 360 via SCE interties
OOS Wind – Pacific NW 40 40 via PG&E NGBA intertie
Hybrid Solar+Storage – N. CA 0 380 PG&E NGBA / GBA /
Fresno/Kern
Hybrid Solar+Storage – S. CA 140 430 SCE Eastern / SCE Northern Geothermal 102 (77 by 2035) 325 PG&E NGBA, SCE Eastern,

SCE NOL
Storage (4h) 0 10 Multiple
Storage (8h) 20 20 Multiple
Storage (12h) 70 95 Multiple
The portfolio is deployed gradually beginning in the early 2030s, with material additions of solar, in state and OOS wind, geothermal, and storage resources continuing through 2045. Aggregate quantities are and network upgrades. California ISO transmission development forum. (2025). Caiso.Com. https://stakeholdercenter.caiso.com/recurringstakeholderprocesses/transmission-development-forum.

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39 modest relative to the multi-gigawatt system-wide resource additions reflected in the 2026-2027 TPP base case portfolio and generally require less than SVCE’s implied load share of the TPP assumptions except as noted below.
20 Given SVCE cannot predict the site locations offered in its future RFOs, it has no strong preferences for generic (uncontracted) resource location and followed the PSP distribution of solar/storage hybrid, Northern California wind, OOS wind, and most geothermal resources. For the CC Power geothermal projects (see below), SVCE has specified zonal locations in the RDT that reflect the projects’ known interconnection points and requests these not be relocated by staff during busbar mapping. This spreads resources in many transmission zones throughout California and CAISO border. For resources with CODs after December 31, 2029, SVCE does not specify a location, with the exception of some geothermal resources noted below. However, SVCE uses multiple sources of information on transmission upgrades, interconnection, and resource planning. For instance, the Northern California wind is a proxy for generic wind resources in Northern California, Solano, and the Carrizo area.

For planned resources, SVCE evaluated transmission deliverability using three layers of information: (i) the CAISO Transmission Capability Estimates published in August 2024,21 which identify FCDS and EODS capability and known upgrade pathways across CAISO study areas; (ii) the busbar mapping results of the CPUC Recommended Base Case Portfolio for the 2026-2027 TPP,22 which inventory expected resource development across each CAISO study area; and (iii) the CAISO Data Transparency Matrix and POI Heat Map23, which provide visibility into substation-level interconnection capacity.

SVCE's in-state solar and wind procurements are mapped to PG&E NGBA, PG&E Greater Bay, PG&E Fresno, PG&E Kern, SCE Eastern, and SCE Northern study areas. Comparison against the 2026-2027 TPP base case mapping confirms that:
20 2026-2027 Transmission Planning Process Draft Transmission Plan. (2026). California Independent System Operator. https://stakeholdercenter.caiso.com/InitiativeDocuments/Presentation-2026-2027-Transmission-Planning-Process-Feb-24-2026.pdf. 21 Transmission Capability Estimates for use in the CPUC’s Resource Planning Process. (2024). California Independent System Operator. https://www.caiso.com/documents/transmission-capability-estimates-white-paper-2024.pdf. 22 2026-2027 Transmission Planning Process (TPP) Proposed Decision Modeling & Analysis. (2026). California Public Utilities Commission. https://www.cpuc.ca.gov/-/media/cpuc-website/divisions/energy-division/documents/integrated-resource-plan-and-long-term-procurement-plan-irp-ltpp/2024-2026-irp-cycle-events-and-materials/assumptions-for-the-2026-2027-tpp/26-27-tpp-pd-resolve-and-servm-analysis.pdf. 23 Points of interconnection heatmap. (2026). Caiso.Com. https://www.caiso.com/poi-heatmap/.

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40 • SVCE's Northern California solar and wind volumes fall well within the FCDS/EODS capacity envelopes assumed in the 2026-2027 TPP base case for PG&E NGBA, GBA, Fresno and Kern study areas.
• SVCE's Southern California solar and hybrid resources are aligned with the substantial solar buildout in SCE Eastern and SCE Northern areas assumed in the 2026-2027 TPP, and benefit from upgrades already under construction or approved by the CAISO Board through prior TPP cycles.
• Storage resources (4-hour, 8-hour, and 12-hour) are assumed to be co-located or sited at substations with sufficient interconnection capability identified through the POI heat map.

While SVCE’s planned solar and storage build fall well within its implied share of the 2026-2027 TPP base case assumptions, the SVCE Preferred Conforming Plan includes more than its implied share of the expected in-state wind capacity in the TPP portfolio. In its 2021-2022 Transmission Plan, the CAISO approved a new 500/230 kV substation (Collinsville) in the solano county creating access to wind resources.24 The Collinsville project is expected to be highly effective in addressing several deliverability constraints to facilitate full capacity deliverability of the Solano area wind generation. The Commission’s Modeling Assumptions also confirm this for the CAISO 2026-2027 TPP. Therefore, the base portfolio provided by the Commission for the CAISO 2026-2027 TPP assume 780 MW and 244 MW of wind resources in the PG&E North of Greater Bay Study and PG&E Greater Bay Study Area zones, respectively, adding to more than 1,000 MW in Northern California by 2036, as they can likely be accommodated on the existing and approved CAISO transmission.25 Given this information, SVCE assumes that its procurement of Northern California wind resources in 2030-2036 is not expected to trigger any transmission delivery network upgrades (DNU). Furthermore, SVCE also estimates that approximately 4 GW of in state wind resources on the CPUC baseline resource list are likely to reach end of life and require repowering by 2045. Such resources, if eligible for IRP procurement mandates, may satisfy a portion of SVCE’s going forward in-state wind needs. As noted above in Section III.k, SVCE encourages the state to consider means to ensure development of in-state wind and geothermal resources, including potentially holding deliverability for location limited resources in the CAISO TPP process.

SVCE’s planned procurement of 102 MW and 325 MW of geothermal by 2036 and 2045, respectively aligns with 5,105 MW of CAISO-wide procurement assumed in the 2026-2027 TPP portfolios.26 Table 15 shows 24 ISO Board Approved 2021-2022 Transmission Plan. (2021). California Independent System Operator. https://stakeholdercenter.caiso.com/InitiativeDocuments/ISOBoardApproved-2021-2022TransmissionPlan.pdf.

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25 Compact dashboard for the PD 26-27 TPP base case. California Public Utilities Commission. Retrieved July 10, 2026, from https://www.cpuc.ca.gov/-/media/cpuc-website/divisions/energy-division/documents/integrated-resource-plan-and-long-term-procurement-plan-irp-ltpp/2024-2026-irp-cycle-events-and-materials/assumptions-for-the-2026-2027-tpp/compact-dashboard-for-the-pd-26-27-tpp-base-case.xlsx. Summary by CAISO Zone tab 26 Ibid.

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41 a comparison of assumed geothermal resources in Base Portfolio assumed in the 2026-2027 TPP versus in the 2025-2026 TPP.

Table 15. A Comparison of Assumed Geothermal Resources in Base Portfolio: 2026-2027 TPP vs. 2025- 2026 TPP
CAISO Study Area 2026-2027 TPP 2025-2026 TPP
PG&E North of Greater Bay Study Area 3,065 123
PG&E Greater Bay Study Area 29 -
PG&E Fresno Study Area 265 -
SCE Metro Study Area - 389
SCE North of Lugo (NOL) Study Area 303 10
East of Pisgah Study Area 908 517
SCE Eastern Study Area 7 500
SDG&E Study Area 529 100
Total (MW) 5,105 1,639
Given the higher level of geothermal resources assumed in the 2026-2027 TPP Base portfolio relative to the 2025-2026 TPP Base portfolio, SVCE expects additional policy-driven transmission triggered in the 2026-2027 TPP than those identified in the CAISO 2025-2026 Transmission Plan. For example, the Collinsville-Tesla 500 kV Line constraint in the PG&E North of Greater Bay Area was exceeded by the mapped 2035 portfolio in the 25-26 TPP. The full TPP analysis is necessary to confirm if the White Paper upgrade is the optimal solution or if a potentially different solution is applicable. However, the CAISO Transmission capability estimates for CPUC’s resource planning process indicate that the existing CAISO transmission has adequate buffer to accommodate a significant portion of this geothermal portfolio. As noted in Section III.j above, SVCE views the geothermal capacity in the later years of the portfolio as a proxy for firm, clean resources, meaning that ultimately a portion of this need may be satisfied by emerging technologies, such as carbon capture and storage, in the future.

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42 SVCE's Preferred Plan includes approximately 447.5 MW of out-of-state wind (Wyoming, New Mexico, and Pacific Northwest), modeled as delivered to the CAISO border via existing interties. The 2026-2027 TPP base case includes substantial volumes of out-of-state wind delivered into PG&E GBA, SCE Metro, SCE Eastern, and East of Pisgah study areas,27 indicating that the planning framework anticipates MIC expansions and/or transmission upgrades to support these imports. SVCE's quantities are a subset of the modeled OOS wind buildout and are expected to be accommodated within the MIC expansion and intertie upgrades being studied through the CAISO TPP.

A portion of SVCE’s procurement of the OOS wind procurement can be accommodated within the CAISO-wide procurement of these resources as described below. • New Mexico wind accessed via SunZia Transmission Project: CAISO has secured deliverability (MIC) of 2,131 MW thru Palo Verde. 28 SVCE understands that Sunzia will deliver the power to the CAISO grid at Palo Verde, and CAISO has approved in-CAISO transmission upgrades to ensure deliverability of 2,131 MW between Palo Verde and the CAISO load centers. • Wyoming wind accessed via Transwest Express Transmission Project: 1.5 GW of the 3 GW HVDC line from Aeolus to IPP is allocated to CAISO, delivered via a second 1.5 GW HVAC line from IPP to Harry Allen. 900 MW of wind resource at Aeolus is under development with an estimated COD by 2030. 29
• Pacific Northwest Wind is accessed via existing transmission.

SVCE’s planned New Mexico wind resources beyond those that can be accessed via SunZia Transmission Project are assumed to be delivered on new transmission. The CAISO is currently investigating transmission solution options for integrating these additional New Mexico wind resources.30 SVCE’s selected wind in New Mexico would necessitate use of roughly double its implied load share of the TPP resource allotment by 2041. If other LSEs plans report similar levels of New Mexico wind resources additional transmission capacity may be necessary to study. SVCE model results generally found New Mexico wind to have significant value, suggesting that even with additional transmission costs they may still be a cost-effective resource for California. Ultimately SVCE may consider alternative 27 Ibid.
28 Proposed Updates to the Busbar Mapping Methodology. (2026). California Public Utilities Commission. https://www.cpuc.ca.gov/-/media/cpuc-website/divisions/energy-division/documents/integrated-resource-plan-and-long-term-procurement-plan-irp-ltpp/2024-2026-irp-cycle-events-and-materials/assumptions-for-the-2027- 2028-tpp/mag-webinar_final_slides_20260616.pdf.

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29 Ibid.
30 Board Approved 2025-2026 Transmission Plan Appendix F Policy Assessment. (2026). Retrieved July 21, 2026, from https://stakeholdercenter.caiso.com/InitiativeDocuments/Board-Approved-2025-2026-Transmission-Plan-Appendix-F-Policy.pdf. See Section F.16. Exploring options for integration of out-of-state wind resources pp.203- 205.

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43 resources for procurement if no viable wind projects are offered to the organization through RFOs or bi-lateral negotiations.

Relatively small quantities of geothermal resources from Nevada and New Mexico are assumed to be imported via existing transmission, with the SVCE MIC delivered to PG&E NGBA and SCE Eastern areas, respectively.

Consistent with the CPUC's principle of maximizing utilization of existing transmission capability, SVCE has prioritized locations where existing FCDS or EODS capacity is available, or where upgrades are already under construction or CAISO board approved. To SVCE’s knowledge, SVCE's Preferred Plan does not include resources that would require entirely new, unstudied transmission corridors that have not been previously evaluated in the CAISO TPP.

Consistent with the CPUC busbar mapping methodology, which incorporates LSE scoring of CAISO interconnection queue projects as a commercial interest signal, SVCE has reviewed the active interconnection queue projects in the study areas where its planned resources are located. SVCE's scoring of interconnection projects was informed by:
• Whether the project corresponds to a resource type SVCE intends to procure, • The project's interconnection study status (e.g., Phase I/Phase II completion, IA execution), • The project's location relative to areas with available FCDS or EODS capability, and • The project's expected commercial operation date relative to SVCE's procurement timeline.

SVCE has reviewed active CAISO interconnection queue projects in the study areas where its planned resources are located, considering project status, COD, location, and resource type. SVCE's commercial procurement strategy has been informed by these factors. SVCE's scoring results were incorporated into its commercial procurement strategy and reflected in the RDT to the extent applicable.

SVCE's 2026 Preferred Plan is necessarily materially different from its 2022 plan given the CPUC has increased the agency’s 2035 load forecast by 68%. However, like its 2022 plan, SVCE has endeavored to ensure there are reasonable pathways to map its selected resource portfolio to the 2025-2026 and 2026- 2027 TPP base case portfolios. As with past IRPs, SVCE reiterates that ultimately the resources procured to meet the portfolio needs will be dependent on market offers received through RFPs and bilateral negotiations. Where SVCE has refined its resource locations relative to prior filings, the refinements reflect (i) updates to SVCE's commercial procurement activity (notably the CC Power geothermal contracts), and (ii) the most recent transmission capability information published by CAISO.

In summary, SVCE's Preferred Conforming Plan resource portfolio is consistent with the CPUC IRP base transmission planning framework and with the CAISO 2024-2025 and 2025-2026 Transmission Plans and using a more conservative benchmark of the 2026-2027 TPP Recommended Base Case Portfolio busbar Item 2g
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44 mapping results.31 SVCE's contracted and planned resources are sited within transmission capability envelopes that have been studied or are being studied through the CAISO TPP. The CC Power geothermal projects represent investment-grade information appropriate for CAISO transmission planning purposes; all other resources are appropriately treated as flexible for staff mapping and modeling. SVCE will continue to monitor and update its transmission deliverability analysis as new CAISO and CPUC materials become available. Further, consistent with CAISO’s TPP, SVCE supports the consideration of advanced reconductoring and other grid enhancing technology where they can cost-effectively improver deliverability, reduce congestion, and leverage existing transmission infrastructure.

IV. Action Plan
a. Proposed Procurement Activities and Potential Barriers As a community-driven LSE, SVCE works with its governing board to set policy, strategies, and directives.

In addition to establishing clean energy targets in 2024, in 2018 SVCE’s board approved a Decarbonization Roadmap32 which set a path for achieving economy-wide decarbonization goals. SVCE’s decarbonization approach consists of four central tenets that are all necessary to achieving deep decarbonization: procure and maintain a sustainable, affordable and carbon-free power supply; electrify the built environment; electrify mobility; and promote energy efficiency and successful grid integration.

SVCE staff is actively reviewing and updating this Decarbonization Roadmap and expects to take the 2026 update to the Board by the end of the year.

At the outset of this Action Plan, SVCE also reiterates that both of its conforming plans rely on an aggressive load forecast which may not come to fruition. SVCE’s internal load forecasting team is closely monitoring both electrification and data center developments in its service territory to ensure it is able to meet its customers’ needs in a cost-effective manner. If the assigned load forecast in this IRP does not materialize, SVCE’s actual necessary procurement activities may differ significantly from its Preferred Conforming Portfolio. Relatedly, enforcement of this, or future IRP plans, may have significant costs and risks for SVCE’s customers.

As in past cycles, SVCE continues to view the CPUC’s “order by order” based approach to procurement as detrimental to the implementation of LSEs IRP plans. Each order establishes strict timelines and new resource accounting methods that fundamentally alter viable procurement decisions for LSEs. As such 31 Ibid.
32 Decarbonization Strategy Programs & Roadmap. (2018). Silicon Valley Clean Energy. https://www.svcleanenergy.org/wp-content/uploads/2019/03/Decarbonization-Strategy-Programs-Roadmap_Dec-2018.pdf.

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45 any future CPUC procurement orders may meaningfully alter SVCE’s procurement activities. SVCE strongly encourages the CPUC to act expeditiously to finalize the RCPPP to ensure LSE IRP plans can be made as accurate as possible going forward. This is discussed in further detail in Section V below.

As SVCE’s efforts to help the local community decarbonize continue to expand and scale, it hopes to drive non-linear increases in DERs, EVs, all-electric buildings, and customer literacy on Time of Use (TOU) rates. These changes will significantly impact not only the load, but also the load shape over time, resulting in changes to both our RA needs and hourly emissions. SVCE’s decarbonization approach prioritizes innovation and experimentation. This approach, and the continuously evolving nature of the regulatory and planning space, necessarily results in some degree of uncertainty of the impact and timing of its efforts. SVCE will continue to monitor and forecast the impacts of its decarbonization approach and its impact on SVCE’s supply side needs, but views flexibility in planning going forward as necessary to best serve its customers.

SVCE will continue to monitor its procurement needs and the marketplace to assess when to time new solicitations. While SVCE may indicate preferred resource types in such solicitations SVCE generally reviews offers from any clean generator or storage resource and expects to continue to do so. SVCE expects to issue one to three Requests for Offers (RFOs) for long-term projects each year going forward.

Staff will evaluate all offers based on the best fit for the portfolio given its open position, outlook and compliance obligations at that time. SVCE discusses financial and viability considerations for specific resource types in the sections below.
i. Resources to meet IRP mandated procurement requirements, including D.21- 06-035 and D.23-02-040:

SVCE has included all resources contracted as of April 1, 2026 in its IRP portfolio, including those being used to meet its obligations under D.21-06-035 and D.23-02-040. As described in its bi-annual remediation plans submitted to the CPUC, the agency has worked diligently to address project delays and cancellations when they have occurred. Should any additional projects intended for IRP compliance have similar issues going forward, SVCE will work to address such problems with the developers and will keep the CPUC and its staff informed of the status of the project.

As described in Section III.a.i, SVCE also included generic resources in its portfolio which it views as a proxy for its obligations under D.26-02-057. SVCE included a mix of geothermal, LDES and hybrid resources based largely on the results of its first RFO intended to meet this order which was closed on March 4, 2026. SVCE expects to issue one to three RFOs for new long-term contracts each year on a forward-looking basis to address both the needs of the recent procurement order and any future orders along with procurement needs as established in the RCPPP.

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46 ii. Plans for resources that are currently non-candidate in CPUC’s IRPs not described above
SVCE did not model candidate resources beyond those assumed in the CPUC’s candidate resource pool given both timing constraints and a desire to align with the CPUC’s inputs and assumptions.

SVCE encourages offers of emerging technologies into its RFOs for long-term resources. In its first long-term RFO in 2026 SVCE expressed a preference for certain technologies including bioenergy carbon capture, advanced nuclear, linear generators, other clean internal combustion engine technologies and non-lithium-ion battery technologies.

SVCE has historically been willing to explore and contract with developers of emerging technologies as evidenced by its contracting of the Willow Rock CAES facility and Tumbleweed LDES, the first operational eight-hour lithium-ion battery project in California. Given many of these technologies may carry more development risk than more standard renewable technologies, SVCE has found benefits in its membership in CC Power, a joint powers authority which has enabled its 10 CCA members to do joint procurement, particularly for emerging technologies.
iii. Other renewable and/or zero carbon resources not described above As discussed in Section III.j above, SVCE views the inclusion of significant quantities of geothermal in its Preferred Conforming Portfolio as a proxy for clean, firm capacity more broadly and may ultimately procure such resources to meet the needs of its portfolio in lieu of only geothermal. While the timing for this IRP cycle did not allow for SVCE to model additional resource types beyond the candidate resources provided by the CPUC, the SVCE planning team intends to further explore the value proposition of emerging technologies, such as carbon capture and storage and small modular reactors, for its portfolio in more detail in 2027.
iv. Other energy storage not described above
As noted in the response to Section IV.a.v above, SVCE did not allow any candidate resources beyond those in the IRP modeling tools. SVCE's procurement team continues to assess offers and opportunities as they are presented. In particular, SVCE sees potential diversification value from procuring nonlithium-based batteries in the future, such as its Willow Rock CAES storage project, and will continue to explore the potential of such technologies.
v. Other demand response not described above
Ensuring system-wide affordability and reliability is of particular importance to SVCE. For this reason, SVCE has several initiatives underway to shape demand that are part of its broader demand flexibility and demand response strategy. New, flexible end-use loads, including EVs, BTM batteries, heat pumps, and smart controls have introduced new challenges, but also opportunities for SVCE to help shape demand in ways that could benefit our customers and SVCE’s operations.

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47 SVCE is currently evaluating the potential costs and benefits of numerous demand response initiatives, and the market mechanisms that will allow SVCE to transact for their value. These potential programs include battery storage, C&I demand response, as well as new rate structures. SVCE is actively exploring the possibility of becoming a CAISO Demand Response Provider, by developing a market-integrated DR program for C&I customers.

SVCE views the primary opportunities in demand shaping as being in load-modifying programs that shift load every day, and market-integrated demand response programs that can generate RA and energy revenue. SVCE views load modifying programs as a best-fit option for daily load shaping, but also as a solution when market barriers limit or prohibit their use as a proxy demand resource. Conversely, event-based demand response may also provide customers with the opportunity to reduce demand charges, while also generating qualified RA.

SVCE considers its portfolio of demand response activities to include demand flexibility and efforts to test dynamic rates. Per the CPUC’s definition, dynamic rates are a type of demand response.33 In response to Load Management Standards regulations set at the California Energy Commission (CEC) in 2023, SVCE began developing a strategy for offering its customers the option to either enroll in a program or rate that is tied to an hourly real time price. Since then, SVCE has partnered with PG&E to offer customers the option to enroll in a dynamic rate pilot. As part of this pilot, SVCE hopes to learn how its customers respond to dynamic rates and whether dynamic rates are better suited to certain types of customer classes over others. Mid-term evaluation data on pilot results will be available in the Summer of 2026, with final evaluation data available Spring of 2028. This data will inform aspects of SVCE’s demand response and broader load shifting strategy.

This work layers on top of pilots and programs SVCE has already tested in previous years, such as the GridShift: EV Charging app (1,500+ EVs enrolled in a managed charging app, including a cohort testing hourly price signal response), Lights On Silicon Valley (a partnership with Sunrun to aggregate local behind-the-meter batteries to provide daily load shaping for SVCE), and an E-ELEC pilot (an SVCE-specific time-of-use rate built on E-ELEC that had a higher peak price signal and a 30% lower off-peak price signal for generation). These programs have led to some load shifts and customer savings, but have not led to major, countable adjustments to SVCE’s load shape to date. However, the learnings thus far have been pivotal in understanding the potential and barriers to widespread demand flexibility that influence SVCE’s current strategy.

Because SVCE’s active demand response programs and rates are in development or pilot stage, SVCE did not explicitly include any expected change to its load shape when modeling the IRP portfolio or in developing its CSP. SVCE will continue to explore what programs and rate structures best balance the 33 Guiding Principles for Demand Response in California. (2025). California Public Utilities Commission. https://docs.cpuc.ca.gov/PublishedDocs/Published/G000/M582/K074/582074542.PDF, Page 3.

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48 value of load shaping against program costs and expects to use these findings to inform its next Load Management Standards plan due to the CEC in 2027.
vi. Other energy efficiency not described above
Energy efficiency is an essential part of SVCE’s four tenets to decarbonization, providing real customer value as well as emissions reductions. At a high level, SVCE has long envisioned its role in energy efficiency as being additional to the role that the IOU, Regional Energy Network (REN), and CCA energy efficiency administrators already play. SVCE has therefore focused most programmatic offerings on electrification or decarbonization initiatives since they have historically played a relatively small part of the statewide energy efficiency portfolio. At the same time, SVCE also encourages customers to leverage all PG&E, REN, or state programs that are available via active outreach to customer and resource links on SVCE’s website.

One of the benefits of SVCE’s self-funded programs is that they do not operate in competition with the ratepayer funded PG&E programs. SVCE’s electrification and decarbonization programs are very closely related to traditional energy efficiency programs, although SVCE’s programs can be assessed outside of the broader energy efficiency portfolio given SVCE’s mission statement.

SVCE delivers both residential and non-residential programs, including a C&I Decarbonization Program, a small/medium business heat pump program, and a number of programs for residential customers designed to support a shift away from natural gas appliances and equipment, in favor of high efficiency electric equivalents.34 Some of these programs also provide incentives for switching from inefficient electric equipment to high efficiency electric alternatives.

While SVCE does not currently expect to apply to administer dedicated energy efficiency programs, SVCE continues to advance energy efficiency with existing decarbonization programs, and through coordination with BayREN and PG&E.
vii. Other distributed generation not described above
As mentioned in Section IV.a. above, SVCE’s VPP strategy involves developing programs to enroll and control behind-the-meter distributed generation resources. SVCE has contracted with a Distributed Energy Resources Management System (DERMS) software company to provide infrastructure technology services to support load modification or flexibility operations for program designs (e.g. battery storage, C&I demand response), and to engage flexibility service providers.

Additionally, SVCE supports the development of distributed generation projects directly in its service territory through its Community Grants Program. Since inception, SVCE has awarded grants to 9 member agencies for solar photovoltaic plus battery, and battery only projects. These grants help SVCE’s 34 Appliance Marketplace. (2026). Svcleanenergy.Org. https://ehub.svcleanenergy.org/products.

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49 member agencies identify, prioritize, and implement resilient energy strategies by contributing a portion of the total project’s costs.

Table 16. SVCE solar + battery, and battery only community resiliency projects Jurisdiction Project Type Location
Los Altos Hills Battery to existing solar Town Hall
Morgan Hill Battery to existing solar Recreation Center Los Gatos Battery to existing solar Library
Mountain View Battery to existing solar Community Center Milpitas (Project 2 of 2) Solar + battery Community Center Unincorporated Santa Clara County Solar + battery South County Fire Station Milpitas (Project 1 of 2) Solar + battery Senior Center Sunnyvale Solar + battery City Hall
Los Altos Solar + battery Community Center
Monte Sereno Solar + battery City Hall
Sunnyvale Solar + battery Fire Station
Beyond the Community Grants Program, in SVCE’s territory, approximately 15% of SVCE’s customers generate solar. Almost all of these solar customers are residential customers who installed solar under Net Energy Metering tariff NEM1 and NEM2. Approximately 12,000 customers are under NEM1, 27,000 customers under NEM2, and 4,000 are under Net Billing Tariff (NBT). Since the transition to NBT, there has been an 83% decrease in new NEM customer applications year over year, suggesting the IEPR forecast for the IRP for BTM PV may be too aggressive.

SVCE’s solar rate structures (NEM, NEM 2.0 and NBT) and Net Surplus Compensation currently mirror the IOU’s. SVCE offers a more attractive net surplus compensation rate (2.5X) for CARE/FERA customers who generate an annual surplus. SVCE continues to actively promote pairing of battery storage with solar, and to the extent possible, solutions that enable alignment of BE loads with solar production.

An essential part of identifying solutions is modeling the monetary value of BTM storage for SVCE and customers. At the start of 2026, SVCE, in partnership with our DERMS provider, conducted a thorough Net Economics Solar and Storage Analysis of the value of BTM storage to SVCE and end customers across dozens of residential scenarios. The scenarios included 8760 load profiles of customers with and without solar and storage, different NEM tariffs, and various charging and discharging patterns based on market price signals. The monetary value to SVCE was inclusive of energy, capacity, GHG, and other attribute costs SVCE considers when procuring power, as well as costs offset by a VPP program.

SVCE found that from a customer’s bill savings perspective, installing solar and storage under NBT is likely the best scenario due to reduced generation and delivery charges. However, the value to SVCE is not as straightforward. Current market and regulatory dynamics introduce challenges that prevent SVCE Item 2g
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50 from accessing the full benefits of BTM storage. These dynamics include inability to access the grid’s distribution benefits and inability to be compensated for energy exported for market-integrated resources. Although SVCE found that the benefits of developing an upfront storage incentive program currently do not outweigh the costs, SVCE looks to innovate pathways to decarbonization and will continue to research and advocate for solutions that support distributed generation. Part of the advocacy effort includes advocating for proxy demand response (PDR) battery resources to receive credits for exports as part of the changes the CAISO is considering in the Demand and Distributed Energy Market Integration (DDEMI) stakeholder initiative. Concurrently, in the CPUC’s RA proceeding, SVCE, through its trade association, has advocated for the CPUC to develop a qualifying capacity (QC) methodology for PDRs capable of exports. Receiving the full RA program and energy market value of BTM storage is essential to fully unlocking the cost and reliability benefits of distributed generation and storage. Both for SVCE to be able to offer incentives at a level commensurate with the true value of these assets to the grid, and to ensure that end customers are getting the most value possible from their investments.
viii. Transportation electrification, including any investments that correspond to different levels than what is included in Integrated Energy Policy Report (IEPR) Emissions from transportation comprise the largest source of GHG emissions in SVCE’s territory, and SVCE has created programs to tackle some of the hardest challenges in this sector. SVCE’s transportation electrification focus continues to be on scaling accessible EV charging infrastructure to support rapid and widespread adoption of EVs. Silicon Valley already has some of the highest EV penetration in the state, and SVCE expects to see this trend continue. However, given the number of early adopters and recent federal policy changes, SVCE views the likely growth of EV demand in the territory to be closer to 39% over the next decade versus the IEPR’s 56% assumption.

SVCE has a portfolio of transportation electrification programs to accelerate EV adoption and EV charging deployment. To date, these programs have incentivized the installation of over 700 EV charging ports, 68% of which are installed in multifamily housing. In 2020, SVCE partnered with four other LSEs across San Mateo and Santa Clara Counties on the California Electric Vehicle Infrastructure Project (CALeVIP 1.0), which is a regional deployment of a statewide program co-funded by the CEC. The CEC and SVCE each contributed $6M, for a total of $12M to incentivize new EV charging installed in SVCE territory in the 2020-2026 timeframe.

SVCE funds several of its own programs to address EV adoption barriers for multifamily property tenants, who adopt EVs at disproportionately lower rates than single-family property residents with home charging access. Since 2022, SVCE’s Multifamily EV Charging Incentive Program has provided rebates for Level 1 and Level 2 Electric Vehicle Supply Equipment (EVSE) and allows charging equipment to be installed in both shared and assigned parking spaces, addressing the needs of a wider range of property types. SVCE has also provided no-cost technical assistance to multifamily property managers to demystify the charging installation process, including customized site plans and contractor bidding support. For deed-restricted affordable housing properties, which often lack funding for capital improvements, SVCE’s Multifamily Retrofits program provides no cost direct installation services to fully Item 2g
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51 electrify properties and add EV charging for residents and staff. From 2022-2024, SVCE also ran a pilot program, Priority Zone DC Fast Charging, which provided incentives for three fast-charging stations near dense multifamily neighborhoods, recognizing that convenient and reliable fast charging is also an important solution for renters with EVs. Most recently, in 2025 SVCE funded three Innovation Onramp pilots to test solutions to reduce charging costs at multifamily properties through virtual submetering and a novel direct-to-meter wiring device.

To help address high upfront cost barriers to EVs, SVCE launched an income-qualified EV Rebate Program available at the point of sale at participating dealerships or post-purchase. Since late 2024, this program has helped more than 400 eligible customers with their EV purchase or lease. SVCE recognizes the importance of educating customers about the benefits of electrification, and partners with community-based organizations to offer EV education opportunities via webinars, EV discount campaigns, and in-person EV Ride & Drive events.

SVCE also partners closely with member agencies to support smart policy and strategic decarbonization projects. In 2022, SVCE and its member agencies renewed efforts to adopt local building codes that would exceed the state code in promoting decarbonization benefits. These Reach Codes included requirements for installing EV charging access to reach 100% of multifamily resident parking spaces in new construction, which was later incorporated into the 2025 state code. SVCE provides no-cost technical assistance for fleet electrification planning to 15 public fleets in the territory, as well as multiple rounds of municipal and community decarbonization grants to help fund the implementation of these plans.

Despite the rollback of federal support and funding for transportation electrification, SVCE remains committed to advancing programs and policies that further state and local EV adoption goals. SVCE’s programming seeks to fill gaps and remove barriers to ensure that all customers have access to clean transportation options. In the coming year, SVCE plans to expand the EV Charging Incentive Program to workplaces and public sites and launch an income-qualified e-bike voucher program to promote alternative e-mobility solutions.

A challenge SVCE continues to see affecting transportation electrification is with energization timelines and permitting processes that drive up project costs, delay EV charger installations, and ultimately limit the state's ability to meet its economy wide GHG goals. As mentioned below, SVCE is working with its member agencies to reduce friction in permitting processes but will look to CPUC action to accelerate the energization process that IOUs control. Although the CPUC has adopted timelines by which IOUs such as PG&E must complete energization services, the timelines remain overly extended and have not alleviated customer dissatisfaction with delays.

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52 ix. Building electrification, including any investments that correspond to different levels than what is included in Integrated Energy Policy Report (IEPR) In 2018, SVCE published the Decarbonization Strategy & Programs Roadmap, a strategic guiding document outlining actions SVCE could pursue towards decarbonization of power supply, buildings, and transportation. A series of additional strategic documents were developed in the following years, including Joint Action Plans for decarbonizing the building and transportation sectors, and the Clean Pathways long-term supply strategy. Key program areas were identified, along with areas for additional innovation and research. These guiding documents are shown in Figure 14 below.

Figure 14. Strategic documents informing decarbonization strategies for power supply, buildings, and transportation.

Building on these initial strategic documents along with 7 years of implementing programs, collecting data, and learning from SVCE’s and other program implementers’ experiences, SVCE is drafting an updated strategic planning document known as the Integrated Decarbonization Roadmap. This updated guiding document will identify key electrification barriers, articulate SVCE’s role in the broader decarbonization landscape, establish electrification targets, and provide strategic recommendations to guide action over the next 3-5 years.

BE strategy in the Integrated Decarbonization Roadmap is informed by the SVCE Market Segmentation Study, performed in 2022. The goal of the study was to better understand the number of natural gas-fueled residential and commercial appliances throughout Santa Clara County, and to estimate the cost of electrifying them. The study leveraged survey data, particularly the ACS and Residential Appliance Saturation Survey (RASS), to estimate the number of residential natural gas devices in the SVCE Service Item 2g
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53 Territory. Nonresidential equipment data was informed by additional data sources including Co-Star, NEEA surveys, and IOU surveys across California. A summary of residential and nonresidential fossil-fuel machines estimated across Santa Clara County can be seen in Figure 15 below.

Figure 15. Summary of fossil-fuel consuming equipment across Santa Clara County based on the SVCE Market Segmentation Study.

Electrification adoption scenario pathways were evaluated for key equipment types, including residential heat pump HVAC, heat pump water heaters, induction cooking, and EVs. Best available market data was used along with local jurisdiction permit and incentive data to forecast natural market adoption as well as installations driven by state, regional, and local building codes and policies. The technology adoption scenario modeling was used to inform electrification targets for 2030 and 2035 toward the goal of 100% electrification in 2045. Adoption scenario models informed BE strategy by highlighting technology with lower natural market adoption in need of greater supplemental investment and programmatic support. An example of Heat Pump Water Heater (HPWH) adoption scenario modeling can be seen below in Figure 16.

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54 Figure 16. Example HPWH electrification adoption scenario model results To maximize impact on decarbonization, SVCE pursues a joint programs and policy strategy for decarbonization. Policy efforts supporting member agencies include technical support for building officials and sustainability staff, support with reach code development and adoption, permitting streamlining, and general education and awareness.

In addition to supporting its member agencies’ activities, SVCE has several specific programs targeted at BE. Launched in October 2022, SVCE’s Home Rebates Program has supported residential customers by providing rebates for HPWHs, heat pump space heating and cooling systems (Heat Pumps), dryers, induction cooktops, and prewiring and electrical infrastructure upgrades. These incentives support the growth of the local all-electric market and contractor network, in addition to the equipment directly incentivized by SVCE. To date, the program has been very successful, having served more than 3,500 customers, and incentivized more than 1,200 HPWHs and 2,600 Heat Pumps. The strong uptake of this program highlights a growing demand for rebates as more customers become aware of electrification and choose to make the transition in their homes. SVCE aims to continue this program to support the local market for electric technologies ahead of the Bay Area Air District’s Rules 9-4 and 9-6, which will Item 2g
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55 begin phasing out NOx-emitting appliances starting with a prohibition on the sale of gas water heaters in 2027.35
SVCE also developed a FutureFit Fundamentals Contractor Training program for workforce development, which aims at impacting deployment of a variety of BE technologies across resource categories. Eligible contractors can receive $500 for completing a five-hour online training course covering a variety of electric technologies. Once contractors complete the training course, they can earn up to $5,000 per year by installing qualifying all-electric heat pump equipment for customers participating in SVCE’s Home Rebates program (up to 10 installs per year). Eligible contractors may also receive up to $5,000 to install a qualifying electric technology in their home or business. Through this program, SVCE hopes to increase the size of the local contractor pool, help educate customers, and expand awareness of the benefits of all-electric heat pump equipment. The online training and stipend are available to contractors throughout Santa Clara County and is offered in both English and Spanish language.

Additionally, to help reduce the upfront costs associated with BE retrofits and allow more customers to be able to participate in the benefits of decarbonization, SVCE has deployed a financing program to augment its customer offering. In spring 2025, SVCE launched its Zero Interest Financing program,36 offering 0% interest loans to help cover the cost of heat pumps for water heating, space heating, and air conditioning with loan repayments being offset by energy savings from the new efficient equipment.

The program targets customers with high bill savings-potential from electrification upgrades and provides direct install services paired with financing and incentive layering to lower out-of-pocket costs for home upgrades. The innovative finance offering, implemented with support from the TECH initiative,37 is a learning opportunity to inform future Tariffed On-Bill Financing programs, including SCE’s tariffed on-bill pilot recently approved by the CPUC in December 2025 as part of the Clean Energy Financing proceeding.38 SVCE’s timeline to deploy its own CPUC-approved tariffed on-bill program is uncertain because it depends on the progress of the SCE pilot and PG&E’s billing system modernization effort. Meanwhile, SVCE and TECH are sharing the finance program learnings with stakeholders and will publish reports evaluating the attractiveness of the offer, marketing strategies, customer bill impacts, the potential to scale the finance model, and possible adjustments and modifications to the original design to enable even greater scaling.
35 Rules 9-4 and 9-6 Building Appliances. (2023). Baaqmd.Gov. https://www.baaqmd.gov/rules-and-compliance/rule-development/building-appliances. 36 Hassle-Free Home Upgrades with Zero Interest Financing. (2025, April 16). Silicon Valley Clean Energy. https://svcleanenergy.org/financing/.
37 TECH Inclusive utility investment pilot. (2022). Techcleanca.Com. https://techcleanca.com/pilots/tariffed-on-bill-pilot/. 38 Clean Energy Financing. (2023). Ca.Gov. https://www.cpuc.ca.gov/industries-and-topics/electrical-energy/demand-side-management/energy-efficiency/clean-energy-financing.

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56 Ultimately, in determining BE strategic focus areas, it is paramount to be realistic about SVCE’s level of impact and influence. Areas where SVCE has limited impact and influence include timely energization.

Part of SVCE’s efforts to support BE involve advocating for changes to the energization process. SVCE has found that many of its customers are frustrated by the long waiting times to receive service and the confusing process for applying to become energized. Although the CPUC adopted minimum energization timelines in the Fall of 2024, the timelines do not go far enough to ensure meaningful improvements in wait times so that customers are not discouraged from seeking to electrify their buildings. SVCE will continue to advocate for improvements to these timelines as well as consequences for noncompliance at the CPUC.

While electrification of the building sector is a core part of SVCE’s mission and the organization endeavors to support the full decarbonization of the local economy, SVCE’s outlook for BE does differ from its assigned IEPR forecast used for this IRP cycle. SVCE’s staff conduct a detailed review of market trends and the impact of policy in the service territory as part of its annual forecasting process. Based on this, SVCE forecasts lower BE growth than the assigned IRP forecast. SVCE assumes an 18% annual growth rate for BE over next 10 years while the 2024 IEPR assumes 73% statewide. Notably, the growth rate is a more modest 47% in the 2025 IEPR. Like the transportation electrification forecast, this difference appears to be largely driven by the share of early adopters in the SVCE service territory making the near-term growth rates in the IEPR forecast unviable for Santa Clara County. x. Potential Centralized Procurement, pursuant to AB-1373 To assess the impact of potential centralized procurement activities taken by the DWR, SVCE input the expected energy from the CPUC provided allocation assumptions into the RDT and CSP associated with its Preferred Conforming Portfolio. Staff then removed capacity associated with the ARS model output until emissions results once again aligned with the Preferred Conforming Portfolio. The results portfolio build out is shown below.

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57 Figure 17. Results of SVCE Preferred Conforming Portfolio with CPE Resources SVCE found that its self-procured portfolio would be reduced by 200 MW of solar, 23 MW of onshore wind, 29 MW of geothermal and 10 MW of storage. In total, the change in capacity given the additional resources would amount to 15 fewer MWs in the portfolio by 2045.

SVCE also notes DWR procurement can have adverse impacts on the market and LSEs. First, establishing the DWR procurement function without providing clarity on what actions the agency will take has created meaningful and detrimental uncertainties for LSE procurement teams. As with procurement orders in general, the potential of having resources forced into an LSE’s portfolio strongly disincentivizes proactive procurement by LSEs due to heightened stranded asset risk. It is necessary to ensure that LSEs have sufficient forewarning of CPE allocations to avoid over-procurement in their portfolios which can result in stranded assets and higher customer costs. Additionally, centralized procurement may distort the market if developers withhold capacity in the hopes of selling to a central government agency facing procurement obligations. Finally, the CPUC has yet to clarify how development risk associated with CPE procurement will be managed, specifically whether LSEs will be expected to backstop CPE failure to maintain compliant portfolios. The CPUC allocations of CPE resources for this exercise start entering LSE portfolios as early as 2032. Given LSEs are already actively procuring for the 2030s and the potential for CPE allocations to impact optimal procurement for the entire planning horizon, SVCE encourages the CPUC to consider such impacts when considering approval of DWR procurement.

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58 xi. Other
In addition to its conforming portfolios, SVCE staff also ran a study to assess procurement needs using an internal load forecast. Relative to the IEPR, this forecast utilizes a more modest outlook for data center developments in SVCE’s service territory. The load modifier forecast also differs from the 2024 IEPR in meaningful ways, as described in sections IV.a.viii and IV.a.ix above. SVCE’s internal load forecast is based on SVCE’s detailed understanding of local customer growth, historical trends, and achievable electrification of buildings and vehicles adoption rate. It also incorporates a more realistic BTM PV forecast that reflects current federal and local policies, incentive structures, cost projections and payback periods. In contrast, the IEPR applies more aggressive assumptions for baseline growth, electrification and PV adoption that may be appropriate for statewide planning but may overestimate future load growth within SVCE’s service territory. In addition, SVCE includes only data center loads which it views as likely to seek service from SVCE. The forecast times the online dates and ramping of such projects consistent with information from customers and local governments. While SVCE acknowledges there remains a high degree of uncertainty in data center demand growth and may ultimately have a conservative outlook in its current forecast, given the high level of uncertainty associated with these loads, SVCE strongly cautions the CPUC from ordering procurement based on speculative data center applications. As shown in Figure 18 below, while the forecast is notably lower than the assigned IRP forecast, it is still meaningfully higher than the forecast the CPUC assigned for IRP modeling in 2022.

Figure 18. Load Forecast Comparison
The results of this study show a markedly different resource build-out as shown in Figure 19 below, reducing the total build need by more than 50% on a nameplate capacity basis39. Notably, under this 39 Results from this study were not validated through the CSP tool due to lack of a corresponding emissions target.

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59 lower build-out, the model also selects significantly less geothermal to meet its targets. This high degree of load forecast uncertainty, much of which is dependent on emerging and highly ambiguous data center load, suggests more frequent review of LSE plans and potentially more scenario analyses are warranted as part of the CPUC’s ongoing IRP process.

Figure 19. Results of SVCE Alternate Load Forecast scenario b. Disadvantaged Communities (DACs)
As a community-based LSE, the SVCE Board of Directors is made up of thirteen elected officials representing each of the thirteen member jurisdictions that comprise the SVCE service territory.

Decisions on procurement, programs and investments are made by these elected officials in the interest of all their constituents, including specific underserved communities that they and their municipal staff are closest to.

SVCE provides specific, customized support to address underserved communities. These include lower rates for income-qualified customers, the development and implementation of a Programs Equity Framework and use of Socioeconomic Vulnerability Index (SEVI) metrics to guide program planning and design, as well as ongoing community engagement and outreach efforts. Income-qualified CARE/FERA customers comprise approximately 10% of the SVCE residential customer base. Over the past six years, SVCE has offered an additional generation rate discount on top of the monthly on-bill discount provided to CARE/FERA customers. SVCE has distributed $19M through this initiative to date. had been known. Results were also not validated through the RDT given timing constraints. With such validations the model may have selected more battery storage to compliment the selected solar. 100
40 110
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100
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2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 MW
Annual Capacity Build - Internal Load Forecast
Solar + Storage Onshore Wind Solar Geothermal Storage 8h Item 2g
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60 At the direction of the SVCE Board, the SVCE decarbonization programs and community outreach are customer-focused and designed to be inclusive of the needs of underserved communities. SVCE utilizes an internally developed Programs Equity Framework to guide investment in underserved communities.

SVCE defines an underserved community as one that is underrepresented in decision-making and whose access to key information and resources is limited when it comes to energy issues and receiving the benefits of decarbonization. Underserved communities can face barriers associated with lower socioeconomic status (affordable housing tenants, CARE/FERA customers), type and ownership of housing (renters, tenants of older multifamily properties), geographic isolation, language barriers or cultural isolation, or limited access to digital platforms.

The primary indicator used by SVCE to identify underserved communities and develop program approaches is the SEVI, originally developed as part of the CPUC’s Affordability Report. SVCE has taken the statewide SEVI data by census tract and grouped the tracts that are in SVCE territory into four quartiles, as shown in Figure 20 below. SVCE selected SEVI over California Enviroscreen designated DACs because 1) there are only 7 official DACs in the territory, many of them partially in the territory, and using this designation would leave the majority of underserved communities in the territory out and 2) the key vulnerability in the territory is economic vulnerability (i.e. affordability) due to high economic inequality. Importantly, SEVI identifies relative socioeconomic vulnerability across SVCE’s entire service territory. DACs within SVCE’s service territory, as defined by CalEPA, are exclusively in the SEVI 4 quartile.

Figure 20. Map of SVCE census tracts by SEVI quartile
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61 SVCE has performed analysis to understand the different demographics in these SEVI quartiles using utility and tax assessor data. See Table 17 below for a high-level overview of some example statistics by SEVI quartile that SVCE uses to inform program design.

Table 17. SEVI quartiles and key demographic information SEV 1 SEVI 2 SEVI 3 SEVI 4
Residential
Accounts
60,000
(26%)
61,000
(26%)
59,000
(25%)
53,000
(23%)
Population 200,000
(22%)
235,000
(26%)
215,000
(24%)
243,000
(27%)

CARE/FERA
Accounts
2,600
(4%)
4,200
(7%)
6,300
(11%)
11,000
(21%)
Median
Income $219,000 $192,000 $162,000 $120,000
The goal of using SEVI as a primary indicator is to provide a first pass at identifying varying community and customer demographics, associated decarbonization needs, and to support and track how those needs are being met. SEVI quartiles help SVCE staff think about program design and outreach. As an example, Figure 21 shows how housing composition varies among SVCE customers in SEVI 1 (best-off) and SEVI 4 (worst-off) quartiles. Considering that the population in SEVI 4 tends to have lower electrification rates overall is important, but understanding the differences in housing composition is critical to determining how best to formulate a program for these underserved communities.

This analysis, in part, led to SVCE’s decision to offer both a BE incentive program (simpler for single-family homeowners) and a direct installation program (designed for multifamily). SVCE is still considering how best to reach single-family renters, another underserved subgroup.

Figure 21. Housing comparison of SEVI 4 (worst-off) and SEVI 1 (best-off) quartiles SVCE has developed a framework that guides its programmatic, marketing, and communications approach to reaching the full set of diverse customers in this region. Core to the SVCE mission is helping all customers benefit, directly and indirectly, from decarbonization – that is, in order to achieve its goals, Item 2g
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62 SVCE must ensure that all customers have a pathway to participate in this movement and are actively doing so. While each initiative has its own specific constraints that guide what tactics can be used, this internal framework provides a consistent set of approaches to consider and best practices.

The guiding principles for SVCE efforts to reach all different types of customers are to build community trust through meaningful engagement, leverage strategic partnerships with stakeholders, make data-based equity decisions, and design tailored, adaptable programs and associated marketing materials.

There are many examples of SVCE programs launched specifically to support underserved customers through their design, including:
• SVCE provided grant funding to launch two innovative pilots to provide reliable and affordable charging access to multifamily residents. The pilot with EVmatch tested their reservation-based software platform for shared charging for multi-unit dwelling tenants40. The pilot with Ecology Action demonstrated lower power charging technology and a business model designed for affordable housing communities41. SVCE further supported successful applications for CEC grant funds by both companies to greatly expand their efforts locally. • The SVCE EV Rebate Program provides a $2,000 incentive towards the purchase or lease of a new or pre-owned EV for income-qualified customers. The high upfront purchase cost of EVs is one of the most significant barriers to equitable EV adoption, especially for lower income communities. In order to reach as many customers as possible, the SVCE rebate is available both as an instant rebate at the point-of-sale at participating local dealerships, or as a post-purchase rebate. SVCE partners with local CBOs to host in-person and virtual EV education events, including EV Expos, EV Ride and Drives, and financial incentive workshops. • The SVCE Multifamily Retrofits program provides deed-restricted affordable multifamily properties with no-cost upgrades for BE and EV charging infrastructure. Low rental revenues and high upfront costs of electrification are significant barriers to electrifying affordable housing.

During program design, SVCE met with affordable housing property owners to gather feedback on program implementation. This allowed SVCE to refine program processes and offerings to ensure these owners’ unique needs were met. Once property owners enroll in the program, SVCE also supports owners in engaging tenants on the planned upgrades. SVCE, in coordination with a local CBO, hosts tenant engagement meetings to educate residents on the planned upgrades and construction process. Once the upgrades are made, SVCE hosts a subsequent 40 SVCE Innovation Onramp Summary: EVMatch. (2022). Silicon Valley Clean Energy. https://svcleanenergy.org/wp-content/uploads/SVCE-Innovation-Onramp-Summary_EVMatch.pdf. 41 SVCE Innovation Onramp Final Report: Ecology Action. (2021). Silicon Valley Clean Energy. https://svcleanenergy.org/wp-content/uploads/IN-Ecology-Action-Innovation-Onramp-Final-Report_11.5.21_digital.pdf.

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63 post-installation meeting with tenants to provide education on equipment operations and maintenance, and bill savings. All meetings provide live interpretation in Spanish and Vietnamese to support non-English speaking residents at these properties. • The Full-Service Home Upgrades program provides no-cost upgrades to income-qualified (<80% area median income) households. This direct install program helps customers understand their energy opportunities through a non-biased Energy Advisor and connects them to a vetted contractor to perform electrification, energy-efficiency, and remediation (e.g., asbestos, unsafe panels etc.) upgrades. As a result, income-qualified homeowners are able to live in healthier, safer homes. It is fundamental that SVCE partners with local community-based organizations representing underserved communities to help promote available resources to their community. These organizations also provide SVCE with direct customer feedback and useful input on program design. As one example, SVCE partnered with the Silicon Valley Independent Living Center to distribute 50 portable batteries to Medical Baseline customers who live in fire-prone areas and depend on having electricity to power equipment for medical needs.

On an ongoing basis, SVCE conducts outreach and engagement with its 280,000+ customers, through both direct and electronic channels. Quarterly, SVCE hosts a meeting with community partners to gain feedback on SVCE’s energy services, program results and upcoming plans. Community partners include local advocacy groups, residents serving on local governmental commissions, and community non-profit organizations. As a public entity, SVCE Board and Committee meetings are publicly noticed and open to the public for input and comment. The SVCE website, public notifications and outreach materials are provided in the top four languages spoken in its service area – English, Spanish, Chinese and Vietnamese, as well as being compliant with accessibility standards.

In 2025, SVCE implemented two key campaigns to reach vulnerable communities. The first, The Payment Assistance and Efficiency Resources campaign, was developed to help customers in need learn about payment programs and ways to save on their bills. The campaign was targeted in vulnerable communities within the SVCE service area and directly to customers with bill payment arrearages. The campaign also collected direct feedback from target customers through a survey that offered direct insights into where customers go for information and resources. This provided SVCE with recommendations for future community partnership opportunities. For the second program, SVCE partnered with a Spanish-language marketing agency to develop a campaign to promote its customer electrification offers and services in a Spanish-first approach. The campaign resulted in significant customer engagement on its Spanish landing pages about available rebates for heat pump equipment.

Outside of its service territory, SVCE also engages with underserved communities its power procurement activities may impact. As discussed in Section III.d.ii above, in 2023 SVCE signed a contract with the Hanford Hybrid Power Plant. The Hanford plant is a hybrid natural gas peaker power plant (“peaker”) and battery energy storage system that SVCE contracted with for twelve years to ensure that SVCE can meet its RA program obligations as mandated by California and to assist with meeting SVCE’s procurement obligations under the CPUC Mid-term Reliability procurement order. The SVCE contract with the facility enabled the addition of adding a battery energy storage system to reduce the run time Item 2g
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64 of the gas plant as the battery will be called on first to offer the reliability benefits and reduce overall emissions from the facility.

However, due to the expectation that even with the batteries, there will still be some emissions from the facility due to the gas peaker dispatching, the Board directed staff to develop a policy and/or guidelines to set aside funds for programs and/or projects to mitigate emissions associated with energy produced by the plant. Hanford is located in Kings County, located within the San Joaquin Valley.

Hanford has been designated a disadvantaged community as defined by the 2022 version of CalEPA’s CalEnviroScreen 4.0.

In developing the Hanford Emission Mitigation Fund, SVCE conducted extensive community outreach to ensure funds provided maximum benefit to the community while also being consistent with SVCE’s mission. To identify appropriate projects to fund, staff sought community input from local organizations that serve Kings County. Staff researched and contacted approximately a dozen different organizations and met with four that have programs aligned with the goals and guidelines in the Hanford Mitigation Fund. In these conversations, the nonprofit organizations referenced past and recent community needs assessments and their reports indicated that one of the primary residential concerns is energy affordability and utilities assistance. Specifically, affordable housing, food insecurity, home repairs and employment were also top community priorities.

The two organizations that the SVCE Board approved funds for from the Hanford Mitigation Fund include Self-Help Enterprises (SHE) and Kings County Action Organization (KCAO).

Serving nine counties in the San Joaquin Valley, SHE is a community development organization whose mission is to work together with low-income families to build and sustain healthy homes and communities. One of their program areas, Sustainable Energy Solutions, includes projects on affordable energy, EV adoption, and community engagement and education on energy topics. Approximately $1.2 million has been allocated to SHE to fund electrification outreach and readiness initiatives across three program areas, focused on energy efficiency and electrification, over five years.

KCAO is a local community services organization and federally designated anti-poverty agency providing services to Kings County. KCAO, like other service organizations throughout California, offers emergency utility bill assistance and weatherization services. $300k has been allocated to KCAO for their home weatherization program. The current program is primarily funded by federal grants from the Department of Energy and the Low-Income Home Energy Assistance Program (LIHEAP). Under their current funding amount, they can serve approximately 80 homes with an average cost of approximately $5,600 per home. SVCE funds can assist with reaching up to 100 homes each year, over a two-year period.

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65 c. LSEs’ Tribal Customers
SVCE has no federally recognized tribes as customers. SVCE recognizes that its service area is part of the unceded lands of the Muwekma Ohlone Tribe. Based on census data, SVCE estimates that approximately 6,400 people identify as American Indian or Alaskan Native within its service territory.

Through its Power Purchase Agreement Project Selection Policy, SVCE remains committed to prioritizing environmental stewardship, workforce development and community engagement for all long-term contracts the organization pursues including any future contracts on or near tribal lands. d. Procurement Products
SVCE is governed by its Board of Directors, which has approved acceptable product and transaction types through its ERMP. Table 18 below demonstrates the scope of approved product types, enabling contracts, markets and approved transaction types.

Table 18. SVCE Board of Directors approved product types Product Type
(Approved) Contract Other Product Name Market Transaction Type Energy EEI, PPA ISTs OTC,
CAISO
Fixed, Index, Physical Swap*** (Exchange of
Quantities)
Resource Adequacy WSPP, EEI,
PPA
RA, Generic, Flex,
IAR OTC Fixed, Physical Swap*** (Fixed Price)
Reliability PPA MTR OTC Fixed
Attributes WSPP, EEI,
PPA
RPS, PCC1, CF,
GHG Free OTC Fixed
Ancillaries CAISO, PPA (Regulation,
Spinning, etc.) CAISO Settlement Statement
Basis CAISO CRRs CAISO Allocation, Auction
Tolling* PPA Natural Gas
Tolling* OTC Fixed, Index
Natural Gas
Hedges**
EEI,
Exchange
Physical &
Financial NG OTC, ICE Fixed, Futures
*Tolling agreements and natural gas tolling agreements specifically approved by the Board **Natural gas hedges needed to manage risk associated with Board-Approved natural gas tolling agreements.

This includes use of both physical and financially settled natural gas hedges and bilateral purchase of energy products.
*** Does not include Financial Swaps (Derivatives)
SVCE expects that it will utilize the above-mentioned product types on a forward-going basis, consistent with the Board approved ERMP to best manage its cost and risks for its customers.

For the purpose of modeling in this IRP cycle, SVCE assumed that all new long-term resources would be procured through bundled PPAs, for which the agency receives Energy, RA and PCC1 attributes from the Item 2g
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66 contract. For the short-term clean products, SVCE assumed procurement via index plus contracts.

Additionally, SVCE assumed some level of short-term RA only product purchases each year to meet its reliability needs.
e. Commission Direction of Actions
While SVCE has attempted to put forward reasonable and actionable portfolios as part of this IRP, there is significant uncertainty in regulatory and market conditions which were considered in selecting a preferred conforming portfolio. Part of SVCE’s qualitative evaluation of the conforming portfolios included assessing regulatory risk. Generally, such risks provide incentive for an LSE to maintain optionality on a forward-looking basis to adapt to changing conditions.

SVCE appreciates the Commission’s progress to date in developing a RCPPP, especially the 2025 Energy Division Staff Proposal and stakeholder review period which followed its release. However, it must be noted that progress in developing the RCPPP has been slow, and LSEs have been waiting for the regulatory certainty it would provide for over four years. As long as the Commission continues to rely on procurement orders and potential DWR procurement to ensure the state remains on track to meet its clean goals and reliability targets the IRP planning process will be compromised. Put bluntly, each procurement order effectively renders LSE IRP plans irrelevant. Perhaps more importantly, these orders also negatively impact LSEs abilities to develop least cost portfolios for their customers, further impeding affordability for California ratepayers.

Simultaneously, as noted above, changing regulatory and market conditions necessitate that LSEs have an ability to adjust their procurement activities and portfolio management to serve their customers at least cost. For this reason, SVCE strongly cautions the CPUC against adoption of the Additional Proposal for a Reliable and Clean Power Procurement Program, issued on June 23, 2026.42 This proposal would not only bind LSEs to their plans long-term, potentially at significant cost and risk to its customers, but may also still necessitate short-term procurement orders to manage large swings in the IEPR forecast or other IRP assumptions that prove to be inaccurate, as we have seen in recent years.

SVCE continues to support an RCPPP which follows the structure SVCE laid out in its July 15, 2025 RCPPP Proposal43. This proposal best ensures an affordable system which considers the entire resource fleet (new and existing), is consistent with other compliance requirements including those laid out in the RPS 42 ADMINISTRATIVE LAW JUDGE’S RULING SEEKING COMMENTS ON ADDITIONAL PROPOSAL FOR A RELIABLE AND CLEAN POWER PROCUREMENT PROGRAM. (2026). California Public Utilities Commission. https://docs.cpuc.ca.gov/PublishedDocs/Efile/G000/M609/K223/609223925.PDF. 43 Silicon Valley Clean Energy. “Opening Comments of Silicon Valley Clean Energy on Administrative Law Judge’s Ruling Seeking Comment On Reliable And Clean Power Procurement Staff Proposal”. July 15, 2025. R.20-05-003.

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67 and RA proceedings and acknowledges key uncertainties including those related to load growth and future grid dispatch.

V. Lessons Learned
SVCE applauds the Commission for the continued evolution of the Integrated Resource Planning process, which has had meaningful improvements over the past three cycles. SVCE acknowledges the challenges associated with aggregating dozens of LSE plans into a viable planning portfolio that can be used by the CPUC and CAISO for important forward looking planning activities. In particular, SVCE appreciates that relative to the 2022 cycle, LSEs were provided more time to develop their plans. With that said, six months is still a limited window to develop a 20-year outlook for an organization. SVCE’s planning team intends to maintain focus on integrated resource planning and scenario analyses to better inform its next compliance plan. To the extent the CPUC can signal to LSEs likely scenarios and load forecasts prior to official release of the next IRP Inputs and Assumptions, it may help organizations such as SVCE develop improved and more actionable plans.

As noted throughout this document, numerous regulatory and forecasting uncertainties continue to impact the viability of LSE’s plans. A key issue this cycle is the assigned load forecast. Relative to the 2022 IRP cycle, SVCE’s 2035 forecast increased 68%. This significant change has prompted SVCE to develop a 2026 Preferred Conforming Portfolio that, as discussed throughout Section III above, bears little resemblance to its 2022 plan. In future cycles, SVCE encourages the CPUC to consider requiring LSEs to evaluate multiple scenarios around key assumptions which are of particular concern due to their high impact and relative uncertainty. However, the CPUC must account for this additional work when considering how much time to provide LSEs to develop their plans. Additionally, this degree of uncertainty and variance each cycle highlights the challenges, and even plausibility, of enforcing these plans as suggested in the Additional Proposal for a Reliable and Clean Power Procurement Program, as discussed further in section IV.e above.

Going forward, SVCE expects regulatory and forecasting uncertainty to persist. Notably, at the time of this writing it is unclear if the Diablo Canyon Nuclear Power Plant will be further extended. If the plant’s retirement is delayed again, SVCE strongly supports allowing its inclusion in state planning processes such as the IRP. Failure to do so results in inaccurate portfolio forecasts and significant over-procurement in the system impacting customer affordability. SVCE also believes it is important that the attributes from the facility – including the procurement value – flow to the entities which cover the ongoing costs of the plant’s operations.

Finally, SVCE also suggests that the CPUC develops a set of workshops in 2027, or once the PSP is complete, to allow a thorough and holistic review of the IRP compliance materials. SVCE would like to explore opportunities for simplification of the RDTs for the purposes of individual LSE IRP plans and also believes review of the CSP tool logic by stakeholders may be warranted again. For example, the CSP resource profiles for renewables (i.e. wind and solar) are based on 2009 historical weather data, which may not represent the most up-to-date capacity factors. SVCE encourages CPUC to continue improving Item 2g
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68 the renewable resource profiles in coordination with CEC and CAISO. While the current approach provides a useful standardized baseline, reliance on a single historical weather year may not fully reflect future renewable generation. Since CEC’s IEPR demand incorporates climate impacts, it would make sense for the generation profiles to align. Additionally, convening parties to discuss long-term planning challenges not addressed by the tools, such as how to plan for reliability should a dual winter and summer peaking system occur in the future, may also be warranted.

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69 Glossary of Terms
Alternative Portfolio: LSEs are permitted to submit “Alternative Portfolios” developed from scenarios using different assumptions from those used in the Preferred System Plan with updates. Any deviations from the “Conforming Portfolio” must be explained and justified.

Approve (Plan): the CPUC’s obligation to approve an LSE’s integrated resource plan derives from Public Utilities Code Section 454.52(b)(2) and the procurement planning process described in Public Utilities Code Section 454.5, in addition to the CPUC obligation to ensure safe and reliable service at just and reasonable rates under Public Utilities Code Section 451.

Balancing Authority Area (CAISO): the collection of generation, transmission, and loads within the metered boundaries of the Balancing Authority. The Balancing Authority maintains load-resource balance within this area.

Baseline resources: Those resources assumed to be fixed as a capacity expansion model input, as opposed to Candidate resources, which are selected by the model and are incremental to the Baseline.

Baseline resources are existing (already online) or owned or contracted to come online within the planning horizon. Existing resources with announced retirements are excluded from the Baseline for the applicable years. Being “contracted” refers to a resource holding signed contract/s with an LSE/s for much of its energy and capacity, as applicable, for a significant portion of its useful life. The contracts refer to those approved by the CPUC and/or the LSE’s governing board, as applicable. These criteria indicate the resource is relatively certain to come online. Baseline resources that are not online at the time of modeling may have a failure rate applied to their nameplate capacity to allow for the risk of them failing to come online.

Candidate resource: those resources, such as renewables, energy storage, natural gas generation, and demand response, available for selection in IRP capacity expansion modeling, incremental to the Baseline resources.

Capacity Expansion Model: a capacity expansion model is a computer model that simulates generation and transmission investment to meet forecasted electric load over many years, usually with the objective of minimizing the total cost of owning and operating the electrical system. Capacity expansion models can also be configured to only allow solutions that meet specific requirements, such as providing a minimum amount of capacity to ensure the reliability of the system or maintaining greenhouse gas emissions below an established level.

Certify (a Community Choice Aggregator Plan): Public Utilities Code 454.52(b)(3) requires the CPUC to certify the integrated resource plans of CCAs. “Certify” requires a formal act of the Commission to determine that the CCA’s Plan complies with the requirements of the statute and the process established via Public Utilities Code 454.51(a). In addition, the Commission must review the CCA Plans to determine any potential impacts on public utility bundled customers under Public Utilities Code Sections 451 and 454, among others.

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70 Clean System Power (CSP) methodology: the methodology used to estimate GHG and criteria pollutant emissions associated with an LSE’s Portfolio based on how the LSE will expect to rely on system power on an hourly basis.

Community Choice Aggregator: a governmental entity formed by a city or county to procure electricity for its residents, businesses, and municipal facilities.

Conforming Portfolio: the LSE portfolio that conforms to IRP Planning Standards, the 2045 LSE-specific GHG Emissions Benchmark, use of the LSE’s assigned load forecast, use of inputs and assumptions matching those used in developing the Reference System Portfolio, as well as other IRP requirements including the filing of a complete Narrative Template, a Resource Data Template and Clean System Power Calculator.

Effective Load Carrying Capacity (ELCC): a percentage that expresses how well a resource is able avoid loss-of-load events (considering availability and use limitations). The percentage is relative to a reference resource, for example a resource that is always available with no use limitations. It is calculated via probabilistic reliability modeling, and yields a single percentage value for a given resource or grouping of resources.

Effective Megawatts (MW): perfect capacity equivalent MW, such as the MW calculated by applying an ELCC % multiplier to nameplate MW.

Electric Service Provider: an entity that offers electric service to a retail or end-use customer, but which does not fall within the definition of an electrical corporation under Public Utilities Code Section 218.

Filing Entity: an entity required by statute to file an integrated resource plan with CPUC.

Future: a set of assumptions about future conditions, such as load or gas prices.

GHG Benchmark (or LSE-specific 2045 GHG Benchmark): the mass-based GHG emission planning targets calculated by staff for each LSE based on the methodology established by the California Air Resources Board and required for use in LSE Portfolio development in IRP.

GHG Planning Price: the systemwide marginal GHG abatement cost associated with achieving a specific electric sector GHG planning target.

Integrated Resources Planning Standards (Planning Standards): the set of CPUC IRP rules, guidelines, formulas and metrics that LSEs must include in their LSE Plans.

Integrated Resource Planning (IRP) process: integrated resource planning process; the repeating cycle through which integrated resource plans are prepared, submitted, and reviewed by the CPUC Long term: more than 5 years unless otherwise specified.

Load Serving Entity: an electrical corporation, electric service provider, community choice aggregator, or electric cooperative.

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71 Load Serving Entity (LSE) Plan: an LSE’s integrated resource plan; the full set of documents and information submitted by an LSE to the CPUC as part of the IRP process.

Load Serving Entity (LSE) Portfolio: a set of supply- and/or demand-side resources with certain attributes that together serve the LSE’s assigned load over the IRP planning horizon.

Loss of Load Expectation (LOLE): a metric that quantifies the expected frequency of loss-of-load events per year. Loss-of-load is any instance where available generating capacity is insufficient to serve electric demand. If one or more instances of loss-of-load occurring within the same day regardless of duration are counted as one loss-of-load event, then the LOLE metric can be compared to a reference point such as the industry probabilistic reliability standard of “one expected day in 10 years,” i.e. an LOLE of 0.1.

Maximum Import Capability: a California ISO metric that represents a quantity in MWs of imports determined by the CAISO to be simultaneously deliverable to the aggregate of load in the ISO’s Balancing Authority (BAA) Area and thus eligible for use in the Resource Adequacy process. The California ISO assess a MIC MW value for each intertie into the ISO’s BAA and allocated yearly to the LSEs. A LSE’s RA import showings are limited to its share of the MIC at each intertie.

Net Qualifying Capacity (NQC): Qualifying Capacity reduced, as applicable, based on: (1) testing and verification; (2) application of performance criteria; and (3) deliverability restrictions. The Net Qualifying Capacity determination shall be made by the California ISO pursuant to the provisions of this California ISO Tariff and the applicable Business Practice Manual.

Non-modeled costs: embedded fixed costs in today’s energy system (e.g., existing distribution revenue requirement, existing transmission revenue requirement, and energy efficiency program cost).

Nonstandard LSE Plan: type of integrated resource plan that an LSE may be eligible to file if it serves load outside the CAISO balancing authority area.

Optimization: an exercise undertaken in the CPUC’s Integrated Resource Planning (IRP) process using a capacity expansion model to identify a least-cost portfolio of electricity resources for meeting specific policy constraints, such as GHG reduction or RPS targets, while maintaining reliability given a set of assumptions about the future. Optimization in IRP considers resources assumed to be online over the planning horizon (baseline resources), some of which the model may choose not to retain, and additional resources (candidate resources) that the model is able to select to meet future grid needs.

Planned resource: any resource included in an LSE portfolio, whether already online or not, that is yet to be procured. Relating this to capacity expansion modeling terms, planned resources can be baseline resources (needing contract renewal, or currently owned/contracted by another LSE), candidate resources, or possibly resources that were not considered by the modeling, e.g., due to the passage of time between the modeling taking place and LSEs developing their plans. Planned resources can be specific (e.g., with a CAISO ID) or generic, with only the type, size and some geographic information identified.

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72 Qualifying capacity: the maximum amount of Resource Adequacy Benefits a generating facility could provide before an assessment of its net qualifying capacity.

Preferred Conforming Portfolio: the conforming portfolio preferred by an LSE as the most suitable to its own needs; submitted to CPUC for review as one element of the LSE’s overall IRP plan.

Preferred System Plan: the Commission’s integrated resource plan composed of both the aggregation of LSE portfolios (i.e., Preferred System Portfolio) and the set of actions necessary to implement that portfolio (i.e., Preferred System Action Plan).

Preferred System Portfolio: the combined portfolios of individual LSEs within the CAISO, aggregated, reviewed and possibly modified by Commission staff as a proposal to the Commission, and adopted by the Commission as most responsive to statutory requirements per Pub. Util. Code 454.51; part of the Preferred System Plan.

Short term: 1 to 3 years (unless otherwise specified).

Staff: CPUC Energy Division staff (unless otherwise specified).

Standard LSE Plan: type of integrated resource plan that an LSE is required to file if it serves load within the CAISO balancing authority area (unless the LSE demonstrates exemption from the IRP process).

Transmission Planning Process (TPP): process conducted by the California Independent System Operator (CAISO) to identify potential transmission system limitations and areas that need reinforcements over 10-year and 15-year horizons.

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Silicon Valley Clean Energy Board of DirectorsAugust 12, 2026

Silicon Valley Clean Energy Board of Directors
August 12, 2026