1 New SV Clean Energy
PowerPoint Template
Subtitle
Stub Period (Q4 2026)
Operating Budget
Amrit Singh
Board of Directors Meeting
September 9, 2026
Item 3
PRESENTATION
2 5-yr Financial and Stub Period Budget Highlights
Stub Budget:
• $27.6 million draw from reserves
• Revenues compared to the same period last year
decline substantially from higher 2026 PCIA charges
and lower PG&E generation rates
• Customer discount remains at 1%, as does the $12
monthly bill credit for low -income customers
2026 update of PCIA and PG&E generation rate account balances and projected 2027 rates. • PG&E May Rate projections will be updated in the fall after the CPUC issues market price benchmarks (MPBs).
In the past, rates between May and fall updates have varied significantly. *High-level comparison intended to communicate main drivers of the financial outlook; not adjusting for different 5 -year horizon s and changes to the fiscal year periods. 5-Year Financial Outlook Improves from Previous
Forecast, but Drawdown from Reserves Continues
• Ending reserves improve and corresponding Days
Cash on Hand (DCOH) over the 5 -year horizon
improves to 190 ( Mid-Year Budget: 142; Stress Test Base Case: 177)* • Energy prices remain at low levels, mostly aligned with previous forecasts, with the exception of Carbon Free
attribute prices dropping further
• Improvements in the financial outlook driven by:
1. Favorable power supply portfolio positions and reductions in the cost of carbon -free resources
2. Lower forecasted PCIA rates based on PG&E’s May
2026 forecast of 2027 rates
• PG&E May Rate projections will be updated in the fall after the CPUC issues market price benchmarks (MPBs). In the past, May rate forecasts have varied substantially from fall updates. *High-level comparison intended to communicate main drivers of the financial outlook; not adjusting for different 5 -year horizon s and changes to the fiscal year periods.
FY 27 Budget Outlook: Negative $150 million
FY 28 to 31 Outlook: On average, negative $18.5 million Item 3
PRESENTATION
3 Stub Budget vs. 4Q Calendar 2025 Actuals
• Revenues are lower with
• Final PG&E 2026 gen rates (set at
the start of the year) came in much
lower than 2025 due to lower
expected commodity prices in 2026
than in 2025
• Power Supply Cost is flat relative to
the same period last year
• Other operating expenses are higher
for 2 reasons
• Actual spend historically lower than
the budget
• Stub budget contingency for
uncertainty on timing of expenses
(hitting a specific month vs a full
year)
• Transfer to New EcoInvest Fund
• Explained in the next slide
SILICON VALLEY CLEAN ENERGY
4Q 2025 Stub Budget
Calendar
Actual* (Q4 2026)
($ in thousands) $ %
Energy Revenues 115,493 66,612 (48,881) -42.3%
Power Supply Expense (84,949) (83,822) 1,126 -1.3%
Operating Margin 30,544 (17,210) (47,754) -156.3%
Operating Expenses (7,511) (10,359) (2,848) 37.9%
Non-Operating Revenue (Expense) 6,169 5,307 (862) -14.0% Annual Transfers and Other Expenses
Capital Outlay 0 (68) (68) 0.0%
Transfer to Building Fund (1,375) ** 0 1,375 -100.0%
Transfer to EcoInvest Fund 0 (3,500) (3,500)
Transfer to Program Fund (1,813) ** (1,332) 481 -26.5%
TOTAL CAPITAL EXPENDITURES, INTERFUND
TRANSFERS & OTHER (3,188) (4,900) (1,712) 53.7%
BALANCE AVAILABLE FOR RESERVES 26,014 (27,162) (53,177) -204.4% *The financial results in this table are preliminary and subject to change pending the closing of the books for the fiscal year 2025-26. ** Annual amount prorated for Q4 2025 for comparison purposes.
Change
Item 3
PRESENTATION
4 EcoInvest Fund Creation
EcoInvest Recap
• Part of Non -Standard Pricing Agreement
Policy (approved in 2019 to retain large
customers at higher departure risk)
• In exchange for committing to remain an
SVCE customer, a portion of bill is set
aside for decarb project funding
• Customer must do a local project and
(typically) contribute matching funds to
unlock
• Policy includes strong requirements to
prohibit any cost -shifting
Why transfer funds to a new EcoInvest Fund?
• Same treatment as that of other customer
decarbonization programs
• Customer’s expenditure of funds does not align with
the accrual of those funds in a fiscal year (i.e., customers can accrue over 5 fiscal years and spend all accrued amounts in year 5) • Better to manage as a portfolio that accounts for
expected spend and additions per new or existing
customers’ accrual of incentives
• Better visibility on the use of these incentives and
alignment with Accounting treatment
Status
• Several contracts signed, some customers
accruing EcoInvest funds
• No electrification projects yet
Item 3
PRESENTATION
5 Variables Affecting the Stub Budget in ¢/kWh
Note: Power Supply expenses shown account for 0.3¢/kWh from Prepay Savings [$3.5 million overall].
SVCE customers pay PCIA, and it’s not a budget expense. The impact of this variable is that it reduces the revenues by bringi ng the discounted generation rate from 10.2¢/kWh to 6.6¢/kWh on average.
Data Management,
0.1¢
PG&E Fees, 0.0¢
Salaries and
Retirement, 0.5¢
Professional
Marketing & Services, 0.3¢
Promotions, 0.0¢
General &
Administrative, 0.1¢
Financing Expense,
0.0¢
Interest Expense,
0.0¢
Capital Outlay, 0.0¢
Transfer to EcoInvest
Fund, 0.3¢
Transfer to Program
Fund, 0.1¢
¢/kWh Stub Period Budget
Non-Power Supply O&M and Transfer Breakdown
The PCIA ($34 million ) exceeds the projected draw on reserves ($27 million).
Item 3
PRESENTATION
6 Variables Affecting the FY 2027 Preliminary
Forecast in ¢/kWh
The PCIA ($158 million) exceeds the projected draw on reserves ($150 million).
Data Management,
0.1¢
PG&E Fees, 0.0¢
Salaries and
Retirement, 0.5¢
Professional
Services, 0.2¢
Marketing &
Promotions, 0.1¢
General &
Administrative, 0.1¢
Financing Expense,
0.0¢
Interest Expense,
0.0¢
Capital Outlay, 0.0¢
Transfer to EcoInvest
Fund, 0.0¢
Transfer to Program
Fund, 0.1¢
¢/kWh CFY 2027 Forecast
Non-Power Supply O&M and Transfer Breakdown Note: Power Supply expenses shown account for 0.5¢/kWh from Prepay Savings [$22 million overall].
SVCE customers pay PCIA, and it’s not a budget expense. The impact of this variable is that it reduces the revenues by bringi ng the discounted generation rate from 9.0¢/kWh to 4.9¢/kWh on average.
Item 3
PRESENTATION
7 5-year Financial Outlook
(with additional liquidity assumptions)
Additional Operating Liquidity
Assumptions:
1. Lag in customer uptake of
programs leaving - $20
million program fund remains
at the end of the 5 -yr
forecast
2. Reducing operating
expenses by $6.5 million a
year to remove budget
contingencies
3. Using the Board -
approved Financial Levers
Playbook to reach the target
DCOH if needed
SVCE rates set at a competitive advantage to comparable PG&E rates.
Item 3
PRESENTATION
8 Review Reserve Targets and Policy
Staff Recommendation:
• No changes to reserve targets or policy
• Changing the targets has no practical implication,
given that the financial outlook does not support
contributing to reserves
• Minimum Reserve Level: 120 DCOH
• If reserves fall below the minimum level,
develop plans to restore them to the
minimum level within two fiscal years.
• Reserve Goal: 350 DCOH
• No action required if the reserves are
above the minimum and below the
maximum levels.
• Maximum Reserve Level: 500 DCOH
• If reserve funds are projected to exceed
the maximum level, present the Board of
Directors with options for disposition of
those reserves during the next budget
cycle.
Item 3
PRESENTATION
9 Staffing
Current Budgeted
Staffing
• 67 Full-time Employees (5 Vacancies)
• 3 intern positions
• 3 Part-time Employees ( 1Inactive)
• 3 Climate Corps Fellows
• 1 Long -term Independent Consultant
The proposed budget requests approval for one
additional position in the Operations
department
Facilities Manager – With the opening of the new HQ, a
dedicated Facilities Manager is needed to oversee the
building's operations, maintenance, safety, security, and vendor management . The position will protect the
agency's investment, ensure efficient day -to-day facility operations, and provide a safe, functional environment for employees and visitors.
Proposed Staffing
• 68 Full-time Employees (6 Vacancies)
• 3 intern positions
• 2 Part-time Employees
• 1 moved to professional services/consultant for
a temp 1099 contract
• 3 Climate Corps Fellows
• 1 Long -term Independent Consultants
Item 3
PRESENTATION
10 Title of the Page Summary – 5-yr financial outlook
improves, but DCOH remains below target
levels starting FY 2027
Reserves
• Reserves built for such financial outcomes position
SVCE well
• Staff will follow the Board-approved Financial Levers Playbook • No changes in 2026 and 2027 • If the financial trend continues, then implement financial levers as needed
• In the fall, staff will have a much better forecast of the 2027 financial outlook when the CPUC publishes
market price benchmarks, and PG&E updates its 2027
rate projections
• Staff will present the proposed 2027 fiscal year budget along with an updated 5-year financial outlook to the
Board in December
Item 3
PRESENTATION
11 Recommendation
Adopt resolution 2026 -15 approving the Proposed Stub Period (Q4 2026) Operating Budget, which, at a high level, includes the following:
• Withdraws $27.2 million from the reserves
• Maintains an average of one percent (1%) customer discount to comparable PG&E rates through December 2026
• Continues to provide additional monthly $12 bill credit to California Alternate Rates for Energy (CARE) and Family Electric Rate Assistance (FERA) customers • Keeps the GreenPrime rate premium at $0.0074/kWh ($7.40/MWh) • Transfers $3.5 million to a new EcoInvest Fund
• Proposes no changes to the current financial reserves targets and policy Item 3
PRESENTATION
12 Thank you! / Questions?
Item 3
PRESENTATION
13 Stub Period
Operating Budget
(Q4 2026)
Item 3
PRESENTATION
14 5-Year Forecast
For forecast years FY2027 onward:
- Revenues are based on SVCE’s load
forecast and CalCCA NewGen Model for
SVCE margin analysis using market data as
of 6/25/2026.
- Power Supply Costs are based on updated
portfolio positions and market data as of
6/25/2026.
- Operating Expenses are assumed to grow
5% / year except for health care, which is
projected to increase by 11% in 2027 and
10% thereafter.
($ in Thousands)
Q4 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031
Operating Revenue (Forecast) (Forecast) (Forecast) (Forecast) (Forecast) (Forecast) Electricity Sales, Net1 $67,264 $206,343 $354,847 $406,683 $429,491 $439,823 GreenPrime Electricity Premium $275 $1,145 $1,177 $1,214 $1,225 $1,225 Reduction in Revenue1
$(928) $(3,424) $0 $0 $0 $0
Other Income $0 $0 $0 $0 $0 $0
Total Operating Revenues $66,612 $204,065 $356,024 $407,897 $430,717 $441,048 Operating Expense
Power Supply $(83,822) $(321,323) $(349,714) $(374,551) $(389,022) $(398,734) Operating Margin $(17,210) $(117,259) $6,311 $33,345 $41,694 $42,314 Data Management $(950) $(3,990) $(4,190) $(4,399) $(4,619) $(4,850) PG&E Service Fees $(397) $(1,667) $(1,750) $(1,838) $(1,930) $(2,026) Salaries and Retirement $(4,795) $(20,225) $(21,313) $(22,464) $(23,681) $(24,968) Professional Services $(2,727) $(9,814) $(10,305) $(10,820) $(11,361) $(11,929) Marketing & Promotions $(139) $(2,762) $(2,900) $(3,045) $(3,197) $(3,357) General and Administration $(1,350) $(6,158) $(6,514) $(6,329) $(6,632) $(6,821) Transfer to EcoInvest Fund $(3,500) $0 $(500) $(2,000) $0 $0 Transfers to Programs Fund $(1,332) $(4,081) $(7,120) $(8,158) $(8,614) $(8,821) Total Operating Expenses $(99,013) $(370,021) $(404,306) $(433,604) $(449,056) $(461,506) Operating Income $(32,401) $(165,956) $(48,282) $(25,707) $(18,340) $(20,458) Nonoperating Revenue
Investment Income $5,307 $15,437 $10,197 $10,049 $9,322 $8,886 Grant Income $0 $0 $0 $0 $0 $0
Total Non-Operating Revenues $5,307 $15,437 $10,197 $10,049 $9,322 $8,886 Nonoperating Expense
Financing Cost $0 $0 $0 $0 $0 $0
Capital Outlay $(68) $(50) $(50) $(50) $(50) $(50)
Interest Expense $0 $0 $0 $0 $0 $0
Total Non-Operating Expense $(68) $(50) $(50) $(50) $(50) $(50) Non-Operating Income $5,239 $15,387 $10,147 $9,999 $9,272 $8,836 Change in Net Position/Available for Reserves $(27,162) $(150,569) $(38,135) $(15,709) $(9,068) $(11,622)
1. Assumptions: 1% discount relative to comparable PG&E rates for the Stub budget (Q4 2026) and for FY 2027-2031. Stub budget and FY2027 include additional discounts in the form of CARE/FERA bill credits to low-income customers totaling $928K and $3.4M, respectively. No CARE/FERA bill credit is assumed after 2027.
Item 3
PRESENTATION
15 Recap – Transition to Calendar Year Fiscal Period
1) Recap:
• New calendar year (Jan to Dec) fiscal period
begins January 1, 2027
• Current fiscal year that began on October 1,
2025, ends September 30, 2026
• This is a transition period budget (Oct 2026 to
Dec 2026), Stub Budget
2) Stub Period Budget Timeline and Actions:
• May 2026 (last meeting): Finance and
Administration Committee(Committee) reviewed
framework for developing the Stub Budget
• Aug 2026 (this meeting) : The Committee reviews Stub
Budget for recommendation for Board adoption
• Sept 2026: Board reviews Stub Budget for
Adoption
3) First Calendar Year 2027 Annual Budget Timeline and Actions:
• October 2026 (tentative date for next meeting) : F&A Committee reviews the proposed 2027 budget framework • Nov 2026: F&A Committee reviews the 2027 Budget for recommendation for Board adoption • Dec 2026: Board reviews the 2027 Budget for Adoption
Item 3
PRESENTATION
16 Transition Timeline and Plan
New Fiscal Period Starts January 1, 2027
December 2026
Board:
• Adopts the
Proposed Budget
for Calendar Fiscal
Year 2027 ,and
2027 Customer
Rate Proposals
Board:
• Reviews Stress
Test Analyses
• Optional: Reviews
Budget
Framework for
Stub Period
Board:
• Adopts the Proposed 3 -
month Stub Period Budget
Finance and Admin Committee:
Executive Committee (Optional):
• Reviews and recommends that the
Board adopt the Proposed Budget
for Calendar Fiscal Year 2027 and
Customer Rate Proposals
Board:
• Adopts Mid -
Year Budget
(FY25 -26)
• Receives
Audited
Financials for
the last fiscal
year. (FY24 -25)
January 2026 February 2026
Staff:
• Enterprise Risk
Assessments
(ERM)
Finance and Admin Committee:
• Reviews Proposed Financial Stress Test
Scenarios
• Reviews and Recommends the Mid -Year
Budget Update to the Board
May 2026
Finance and Admin
Committee:
• Reviews and recommends that
the Board adopt the Proposed
Budget for October 2026 to
December 2026, a 3 -month
stub fiscal period budget .
Finance and Admin Committee:
1) Review Stress Test Analyses
2) Reviews Budget Framework for the
Stub Period
June 2026
August 2026 September 2026 November 2026
Audit Committee:
• Receives Audited Financials for the last
fiscal year. (FY24 -25)
March 2026
Audit Committee:
• Kicks off the Audit for Fiscal
Year 25 -26
NEW: October 2026
Finance and Admin
Committee:
• Reviews Budget
Framework for the
Calendar Fiscal
Year 2027
Item 3
PRESENTATION
17 • A 3 -month period budget requires more precision on the timing of expenses • For example, payment for renewable energy certificates (REC) occurs over a 12 -month period, but highly uncertain to isolate to a month because timing depends on when RECs are transferred to SVCE. Similarly, other expenses are typically managed on a 12 -month period • SVCE’s revenues and expenses vary by season
• No prior 3 -month Budget to compare against
• The proposed Stub Budget is compared to unaudited expenditures as of December 31, 2025, for FY 2025 -26 • Not a perfect comparison – given expenses are usually accounted/budgeted for over a 12 -month period Stub Period Budget Framework
Item 3
PRESENTATION
18 2026 Annual Revenue Forecast And Rates
** Power Charge Indifference Adjustment (PCIA) is a
charge our customers pay to PG&E so that PG&E can
recover commitments made on their behalf when the
customer was part of PG&E’s portfolio. Not shown is
the small franchise fee charge.
PG&E 2026 Gen
Rate: 11.49 ¢/kWh*
1% SVCE discount
PCIA** 3.56
¢/kWh SVCE Gen Rate 7.82 ¢/kWh
SVCE Customer Billing Gen Rate 11.38 ¢/kWh
* All rates are weighted for SVCE load.
• SVCE’s rates are set for the calendar year to align with PG&E’s generation rate and PCIA changes in January
• PG&E’s generation rates and PCIA charges are not expected to change until January 2027
• 2026 Board approved rates were implemented in January 2026; these remain in effect for the Stub Period ( Q4 2026) *:
• 1% discount to PG&E’s applicable generation rates
• $12 monthly bill credit to CARE and FERA low -income customers • GreenPrime rate premium at $0.0074/kWh ($7.40/MWh)
*Rates in the stub period will be aligned with comparable PG&E winter rates for 2026.
The rat es shown in the diagram are the SVCE portfolio -weighted for the calendar year 2026.
Item 3
PRESENTATION
19 Margins in 2026 Drop ~42%*
• PG&E 2026 Gen Rate on
average decreased by
~25% from 2025
• PCIA on average
increased from 1.02
¢/kWh to 3.56 ¢/ kWh
(~250%)
• SVCE margin dropped by
~42% for calendar 2026
• Customer billing rates
dropped on average by
~22%
* SVCE load -weighted average rates . Above -margin analyses ignore franchise fees (~0.1 ¢/kWh in 2025 and ~0.06 ¢/kWh in 2026 ); the 2025 rate does not account for the one -time customer bill credit. 2025 Rate 2026 Rate
PG&E Gen Rate:
15.17 ¢/kWh SVCE Gen Rate 13.55 ¢/kWh
4% SVCE discount
PCIA 1.02 ¢/kWh
SVCE Customer Billing Gen Rate 14.57 ¢/kWh
~42%
headroom
decrease
PG&E Gen Rate:
11.49 ¢/kWh
1% SVCE discount
PCIA 3.56
¢/kWh SVCE Gen Rate 7.82 ¢/kWh
SVCE Customer Billing Gen Rate 11.38 ¢/kWh
Item 3
PRESENTATION
20 Medium -Term Load Forecast by Sector
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
2027 2028 2029 2030 2031
GWh
Annual Retail Sales Forecast by Class
Residential Small/Medium Commercial Large Commercial Agricultural Light 22% 21% 21% 21%
46% 46% 47% 47% 47%
21%
31% 31% 31% 31% 31%
Item 3
PRESENTATION
21 Change in 5 -Year Sales Forecast From Mid -Yr 25 -26 Budget • 5-Yr retail sales forecast is
4% higher than the forecast
used for the mid -year 2025 -
26 fiscal year budget. The
increase is largely due to the
addition of data center load.
• The corresponding
wholesale load forecast is 6%
higher than the retail sales
forecast to account for
transmission and distribution
(‘line’) losses.
3,000
3,200
3,400
3,600
3,800
4,000
4,200
4,400
4,600
4,800
5,000
2027 2028 2029 2030 2031
GWh
SVCE Load Forecast_Retail Sales
Load Forecast in Mid-Year Budget 2026 Operating Forecast Item 3
PRESENTATION
22 Calendar year 2025* to 2026 Retail Sales Forecast
Comparison
0 500
1000
1500
2000
2500
3000
3500
4000
2025 2026
GWh
Retail Sales 2025-2026
baseline Electrification Efficiency Savings EV PV
• From 2025 to 2026, the load
forecast increased by 3%
o 2% is from the baseline,
which is driven by the
economic outlook
o 1% is from incremental
load modifiers, mainly
electric vehicles and
building electrification
* The 2025 figures include 9 months of actual data and 3 months of forecast data.
Item 3
PRESENTATION
23 Financial Levers Summary
Playbook:
• No changes for 2026
and 2027
• Build out new product
options for use in
future years, if
needed, to maintain
reserves (considering
higher rates, less
clean portfolio, etc.)
• Pursue operational
cost savings
• Financial levers are risk mitigation –
to help SVCE know what it will do if
needed
• Balancing competitiveness with
mission, impact, and value
• Specific new product concepts will be
designed and brought to the board
for discussion prior to any roll -out
Item 3
PRESENTATION
24 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 PCIA & Franchise Fee* (₵/kWh) 3.29 4.76 1.97 0.37 1.14 1.12 3.62 4.06 2.72 2.34 2.19 2.14 SVCE Gen Rate* (₵/kWh) 7.59 6.10 12.41 13.99 14.22 12.53 7.76 4.99 8.59 9.50 9.90 10.02 SVCE gen rate discount vs PG&E 4% 1% 1% 4% 4% 10% 1% 1% 1% 1% 1% 1% 0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
0 2
4 6
8 10
12 14
16 18
20 SVCE gen rate
discount vs PG&E
Customer Billing
Rate (₵/kWh)
Estimated**
Average Effective Customer Billing Rates
*Weighted for SVCE portfolio load. The 10% discount for 2025 includes a one -time bill credit, equal to 6% annual discount (up to $35 million in total additional credits) **CalCCA NewGen Model analysis using market data as of 6/25 /2026 and estimated CPUC attribute benchmarks for CY 2026 -2031 (Weighted for SVCE Portfolio Load) SVCE Gen Rate discount excludes CARE/FERA customer discount equal to 1% general discount distributed among CARE/FERA customer s • 2026 Average Customer Billing
Generation Rate decreased 17%
Year over Year, inclusive of
SVCE One -Time Bill credit
disbursement in September
2025
• 2026 SVCE margins decline 38%
• 2027 Estimated Average
Customer Billing Generation Rate
is expected to decrease further
by around 20 % Year over Year
• 2027 SVCE margins decline 36%
Item 3
PRESENTATION
25 CARE and FERA Customer Eligibility Criteria
Eligibility for California Alternate Rates for Energy
(CARE) or Family Electric Rate Assistance (FERA) is
based on household income and size.
For CARE, eligibility can also be obtained through
enrollment in one of the qualifying public assistance
programs*
* To qualify through other public assistance programs:
Someone in a household must take part in any of the following public assistance programs:
• Low Income Home Energy Assistance Program (LIHEAP)
• Women, Infants, and Children (WIC)
• CalFresh/SNAP (Food Stamps)
• CalWORKs (TANF) or Tribal TANF
• Head Start Income Eligible (Tribal Only)
• Supplemental Security Income (SSI)
• Medi-Cal for Families (Healthy Families A & B)
• National School Lunch Program (NSLP)
• Bureau of Indian Affairs General Assistance
• Medicaid/Medi -Cal (under age 65)
• Medicaid/Medi -Cal (age 65 and over)*
Eligible low -income customers
who are enrolled in the CARE
program receive around 40%
discount (not including additional
SVCE discount and bill credits) on
their total electric bills and a 20%
discount on their natural gas bills.
FERA offers an 18% discount
on total electric rates but not
on gas rates. CARE and FERA
share one application. If
applicants do not qualify for
CARE, they might still qualify
for FERA.
CARE Income Guidelines
(valid through May 31, 2027)
Number of
people in
household
Total gross annual
household income
1-2 $43,280 or less
3 $54,640 or less
4 $66,000 or less
5 $77,360 or less
6 $88,720 or less
7 $100,080 or less
8 $111,440 or less
9 $122,800 or less
10 $134,160 or less
Each
additional
person, add
$11,360
*Before taxes and based on all current income sources.
FERA Income Guidelines
(valid through May 31, 2027)
Number of
people in
household
Total gross annual
household income*
1-2 $43,281-$54,100
3 $54,641-$68,300
4 $66,001-$82,500
5 $77,361-$96,700
6 $88,721-$110,900
7 $100,081-$125,100
8 $111,441-$139,300
9 $122,801-$153,500
10 $134,161-$167,700
Each
additional
person, add
$11,360-$14,200
*Before taxes and based on all current income sources.
Item 3
PRESENTATION
26 Reserve Target Definitions
Current Reserve Targets:
• Minimum Reserve Level: 120 DCOH
• If reserves fall below the minimum level, develop plans to restore them to the minimum level within two fiscal years. • Reserve Goal: 350 DCOH
• No action required if the reserves are above the minimum and below the maximum levels. • Maximum Reserve Level: 500 DCOH
• If reserve funds are projected to exceed the maximum level, present the Board of Directors with options for disposition of those reserves during the next budget cycle.
Item 3
PRESENTATION
27 Glossary
• RPS – Renewable Portfolio Standard - The RPS program requires investor-owned utilities (IOUs), publicly owned utilities (POUs), electric service providers (ESPs), and community choice aggregators (CCAs) to increase procurement from eligible renewable energy resources to 60% of total procurement by 2030. RPS eligible resources include solar, wind, small hydro, biomass, and geothermal. • RA – Resource Adequacy - Under its Resource Adequacy (RA) program, the California Public Utilities Commission (CPUC) requires load-serving entities—including investor-owned utilities (IOUs), electric service providers (ESPs), and community choice aggregators (CCAs)—to demonstrate in both monthly and annual filings that they have purchased capacity commitments to contribute their share of system reliability.
• MTR – Mid-Term Reliability – Procurement order issued by the CPUC to focus on securing sufficient online resources to ensure reliability through at least 2028.
• PCIA – Power Charge Indifference Adjustment - Designed to recover the above-market cost of long-term power purchased on behalf of customers who later departed the IOU to be served by a CCA. The calculation methodology is set by the CPUC, and the amount is calculated annually, with vintages set for each year of customer departures. • OIR –Order Instituting Rulemaking - A procedural document that is issued by the CPUC to start a formal proceeding. A draft OIR is issued for comment by interested parties and made final by a vote of the five Commissioners of the CPUC. • 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, and actual costs are retroactively trued-up via balancing accounts. • MPBs – Market Price Benchmarks - estimated values per unit associated with key components of energy portfolios, such as the Energy Index, Renewable Portfolio Standard (RPS) Adder, and Resource Adequacy (RA) Adder.
Item 3
PRESENTATION
• Subtitle
New SV Clean Energy
PowerPoint Template
Customer Programs
Participation Report
Nupur Hiremath, Manager of Decarbonization Programs
September 2026
Item 4
PRESENTATION
2 What and why
• Presents participation data in SVCE’s customer decarbonization programs • broken out by member agency
• cumulative through 2026 Q2
• Includes metrics such as # participants, # electric appliances installed, and # buildings or vehicles electrified, etc. through SVCE programs only • Informational only – intended to track trends, gaps, and opportunities Item 4
PRESENTATION
3 1. Our member communities are diverse
• Size
• Population
• Number & type of SVCE customers
• Demographics
• Socioeconomics
Program uptake may be higher in communities that have
more resources and/or have less variation in their
demographics and building types.
• Geography
• Climate
• Building types
• Electrical infrastructure
• Staff resources
• Funding resources
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4 2. Our programs serve different customers
• Income levels
• Property types
• Vehicle types
• Appliance types
• Housing tenure (owned vs. rented)
Program uptake may be higher in communities where
there is a larger pool of eligible customers.
Some SVCE programs are open to all customers, while others are limited to customers with specific:
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5 3. Our programs are first-come, first-served
SVCE promotes programs to eligible customers across
all member communities.
Ultimately, participation depends on the interest, willingness, and ability of customers in each member community.
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6 Building Electrification
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7 Single-Family Homes Partially or Fully
Electrified
TOTAL 4,200 HOMES ELECTRIFIED IN TERRITORY
Data Source: Participation data from Home Rebates, Full-Service Home Upgrades, Zero Interest Financing, and Assisted Home Upgrades.
Notes:
• A home that is partially electrified has at least one gas-to-electric appliance replacement. A fully electrified home or unit does not use any gas.
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8 Multifamily Housing Units Partially or Fully
Electrified
TOTAL 390 HOUSING UNITS ELECTRIFIED IN TERRITORY
Data Source: Participation data from Multifamily Retrofits program.
Notes:
• A home that is partially electrified has at least one gas-to-electric appliance replacement. A fully electrified home or unit does not use any gas.
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9 Small and Medium Businesses Partially or
Fully Electrified
TOTAL 13 SMALL OR MEDIUM BUSINESSES ELECTRIFIED IN TERRITORY Data Source: Participation data from Business Rebates program.
Notes:
• A business that is partially electrified has at least one gas-to-electric appliance replacement. A fully electrified business or unit does not use any gas.
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10 Large Businesses Partially or Fully Electrified
TOTAL 16 LARGE BUSINESSES ELECTRIFIED IN TERRITORY
Data Source: Participation data from Commercial and Industrial Decarbonization program.
Notes:
• A business that is partially electrified has at least one gas-to-electric appliance replacement. A fully electrified business does not use any gas. • Electrification at some large business projects represented here is still underway.
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11 Heat Pump Water Heater Installations per
1,000 Housing Units with SVCE Programs
TOTAL 2,300 HPWH SVCE PROGRAM INSTALLATIONS IN TERRITORY Data Source: Home Rebates, Assisted
Home Upgrades, Full-Service Home
Upgrades, Zero Interest Financing,
Emergency Water Heater Replacement,
Multifamily Retrofits, Business Rebates, and
the original HPWH 1.0 and 2.0 pilots.
Notes:
• Total number of HPWH installations for
each agency is shown in the left bar.
• Includes both residential and business
installations normalized per total
number of single-family homes and
multifamily units.
• For multifamily properties where a
single central HPWH was installed, we
assume the number of HPWHs is equal
to the number of residential units
served. This ensures consistency with
multifamily properties where individual
HPWHs are installed in each residential
unit.
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12 Heat Pump HVAC Installations per 1,000
Housing Units with SVCE Programs
TOTAL 3,600 HP HVAC SVCE PROGRAM INSTALLATIONS IN TERRITORY Data Source: Home Rebates, Assisted
Home Upgrades, Full-Service Home
Upgrades, Zero Interest Financing,
Multifamily Retrofits, and Business Rebates.
Notes:
• Total number of HP HVAC installations
for each agency is shown in the left bar.
• Includes both residential and business
installations normalized per total
number of single-family homes and
multifamily units.
• For multifamily properties where a
single central heat pump HVAC was
installed, we assume the number of
heat pump HVACs is equal to the
number of residential units served. This
ensures consistency with multifamily
properties where individual heat pump
HVACs are installed in each residential
unit.
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13 Induction Cooktop Installations per 10,000
Housing Units with SVCE Programs
TOTAL 400 INDUCTION COOKTOP SVCE PROGRAM INSTALLATIONS IN TERRITORY Data Source: Home Rebates, Assisted
Home Upgrades, Full-Service Home
Upgrades, Multifamily Retrofits, and
Business Rebates.
Notes:
• Total number of induction cooktop
installations for each agency is shown
in the left bar.
• Includes both residential and business
installations normalized per total
number of single-family homes and
multifamily units.
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14 Customer Interactions with Electrification
Advisor per 1,000 Residential Customers
TOTAL 3,400 CUSTOMER INTERACTIONS WITH ELECTRIC ADVISOR ACROSS TERRITORY Data Source: Go Electric Advisor
Notes:
• Total number of customer interactions
for each agency is shown in the left bar.
• The number of customer interactions
reported is not a unique number of
customers. If the same customer calls
in multiple times, each occurrence
counts as a separate interaction.
• Brief advisor interactions may not be
linked to a customer account due to the
lack of information collected. Also, the
service does not turn away non-SVCE
customers, but rather redirects them to
their local community choice provider or
utility as appropriate. As such, 15-20%
of customer interactions cannot be
categorized by member agency.
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15 Panel Upgrades in SVCE Programs
Data Source: Home Rebates
Notes:
• Represents the percent of homes that did not use a panel rebate but partially or fully electrified with other SVCE 98% rebates. of homes in the direct installation
program electrified without panel
upsizing
Upsizing panels can trigger expensive and time-consuming service upgrades that delay or deter electrification.
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16 City Rebates Distributed through SVCE
Programs
Data Source: Home Rebates
Notes:
• Includes total count of appliances installed (HPWHs, HP HVACs, and induction cooktops) in single-family homes.
• Cities offer rebates for different measures. Milpitas offers rebates for HPWHs, heat pump HVACs, and induction cooktops; Mountain View offers only HPWH rebates; Sunnyvale offers only heat pump HVAC rebates; and Los Altos offers both HPWH and heat pump HVAC rebates.
• Cities have funded their city rebates at different levels, ranging from $75,000 for one agency to $2.66 million for another. • The period “before city rebates” indicates rebates claimed since the inception of SVCE’s programs in 2019.
$716K
in city
rebates paid
180
HPWHs
installed
Across 4 member agencies:
230
HP HVACs
installed
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17 Transportation
Electrification
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18 Level 1 or 2 Electric Vehicle Chargers
Installed with SVCE Programs
TOTAL 708 SVCE LEVEL 1 OR 2 CHARGERS INSTALLED IN TERRITORY Data Source: EV Charging Rebates
program, CALeVIP, and several pilots.
Notes:
• Data includes Level 1 outlets, low-power Level 2 outlets, and Level 2 ports.
• These chargers are located at
multifamily sites or at public locations.
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19 DC Fast Chargers Installed with SVCE
Programs
TOTAL 34 SVCE DC FAST CHARGERS INSTALLED IN TERRITORY
Data Source: CALeVIP and Fast Charger
Incentives programs (both now closed).
Notes:
• Data includes count of DC fast charger
ports.
• These chargers are located at public
locations or near multifamily sites.
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20 EVs Purchased with SVCE Rebates
TOTAL 451 SVCE EVs PURCHASED/LEASED IN TERRITORY
Data Source: EV Rebates program.
Notes:
• SVCE’s EV Rebates program is limited to
low-income customers only.
• SVCE’s EV rebate is available at point-of-sale at 25 participating dealerships or as a post-purchase claim filed within
120 days after lease/purchase of an EV.
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21 More info on programs is
in the Decarbonization
Programs & Marketing
Highlights each quarter
Thank you!
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