Pasadena Water and Power2023 Power Integrated Resource Plan (IRP)City Council Meeting12/11/2023Item #26 Pasadena Water and PowerIntroduction
An IRP is an electricity system planning document that describes how a utility plans to meet its energy and capacity needs in compliance with state guidelinesThe IRP modeling optimizes around Cost, Stability, Reliability, and Environmental StewardshipRepresents planning horizons of 20+ years City Council Dec 11
MSC Dec 5
MSC Nov 14
MSC Oct 10Agenda•Introduction•2023 IRP Development•Summary of MSC meetings and action items•Scenarios and Modeling Process•Implementation Plan and Waypoints•Energy and Environmental Economics (E3) Independent Review PresentationKey Takeaways•Satisfies Resolution 9977 objectives•Shows multiple pathways to Carbon-Free by 2030•Meets all CEC requirements and guidelines for IRPs•IRP uses good utility practices and follows industry standards•Exceeds state mandates •Has concrete, specific details for each year in the Implementation Plan•Submittal to the CEC is required 5 years after the previous IRP was approved (2018 IRP approved December 10, 2018) 2 Pasadena Water and PowerComparison of Goals
•Net Neutral•Assumes and allows some carbon emitting resources•Aligns with State of California’s defined SB 100•Carbon neutral goals•Accepted industry standard for public and private entities•PWP forecasts to exceed the SB 100 goal by the 2028 waypoint•Allows and assumes carbon emitting resources such as natural gas for reliability •Exceeds and transcends SB100•PWP is one of the only utilities in the nation with this goal•Does not allow any carbon emitting resources in any hour Pasadena Water and PowerPWP Key Metrics•Offers one of the lowest residential electric rates compared to neighboring utilities•Provides programs for energy efficiency, low-income, and disadvantaged communities •Consistently exceeds State Renewable Portfolio Standard (RPS) requirements>2022 Requirement: 38.5%; Reported 40%•Among the best reliability metrics compared to those of neighboring utilities in 2022>SAIDI (System Average Interruption Duration Index)Average minutes per outage (~26 minutes)>SAIFI (System Average Interruption Frequency Index) Average frequency of outages (~1 outage every 4 years)•APPA RP3 Utility “Platinum” 40102030405060Average Residential Bills - 5/2023(Cents/kWh, Measured at 750 kWh/month)020406080100120140SAIDI00.20.40.60.811.2SAIFI Pasadena Water and Power2023 IRP Development2023 IRP
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An Integrated Resource Plan (IRP) is an electricity system planning document that describes how a utility plans to meet its energy and capacity needs in compliance with state guidelines•This document is required every five years by the California Energy Commission (CEC)Pasadena Water and Power (PWP) has accomplished all objectives and requirements and are recommending approval and adoption•Meets all requirements for a Compliance Filing to the CEC •Plans multiple approaches to source 100% Carbon Free electricity by the end of 2030 (Resolution 9977)Contracted with Alliance for Cooperative Energy Services (ACES) for modelingEnergy and Environmental Economics, Inc. (E3) performed an independent review5 Pasadena Water and PowerMSC – October 10, 2023
6•October 10, 2023>Staff provided a detailed presentation on the 2023 IRP plan for adoption and approval >Staff presented a flexible plan that includes multiple pathways leveraging the implementation plans from all carbon-free scenarios to achieve the goals of Resolution 9977 >Staff also presented forecasted costs and their estimated impact on customer rates•MSC Directives>Provide incremental Implementation Plan details>Provide enhanced information on the Waypoint framework City Council Dec 11
MSC Dec 5
MSC Nov 14
MSC Oct 10
Pasadena Water and PowerMSC – November 14, 2023
7•November 14, 2023>Provided responses on the October 10, 2023 meeting follow-up items>Outlined the 2028 Waypoint framework, aligned with Carbon Free Scenario 2, to include a detailed Implementation Plan mirroring the scenario’s resource types and resource timing, as derived from the computerized modeling optimizations>The Waypoint framework provides for the potential integration/review of new and emerging technologies while dovetailing into the next regulatorily required 2028 IRP filing•MSC Directives1.Create an incremental 2026 Waypoint, allowing for future evaluation and technical analysis of Goodrich Receiving Station (“Goodrich”) upgrades and the required key system modifications described in the Power Delivery Master Plan (PDMP) 2.Provide an incremental timeline and detail associated with the planned 2024 Electric Cost of Service and Rate Design Study (COS)3.Provide incremental Distributed Energy Resource (DER) and Demand Response (DR) information and concepts. The Implementation Plan patterned after Carbon Free Scenario 2 modeling results identifies DER and DR resource types4.Provide commentary of dashboard concepts that could be used to assist in future monitoring and communication City Council Dec 12
MSC Dec 5
MSC Nov 14
MSC Oct 10
Pasadena Water and PowerMSC – December 5, 2023
8•December 5, 2023>Provided responses on the November 14, 2023 meeting follow-up items•MSC Motion and Direction>Recommended approval of the IRP to City Council and directed Staff to include additional items as part of that approval:1. Create a future dashboard to track the City’s progress towards meeting its carbon-free goals2. Conduct a two-year review of the IRP and present to the MSC3. Develop an integrated strategic plan that synergizes waypoint evaluations, Power Delivery Master Plan, Cost of Service Studies, Rate Studies and evaluation of new and emerging technologies along with the 2028 IRP CEC required submittal City Council Dec 11
MSC Dec 5
MSC Nov 14
MSC Oct 10
Pasadena Water and PowerMetrics Dashboard – Dec. 5 Directive #1•Develop a web-based dashboard to include:>Quarterly progress updates on timeline, resource procurement, and other activities>Summaries of relevant studies that have been completed>CAISO metrics related to key transmission corridors and programs>Status of renewable projects under development where PWP may have a commercial interest >Rates, cost impacts and other considerations as they may occur dynamically>Regulatory compliance considerations or changes that may have material impact upon the project, Renewable Portfolio Standards, or CAISO Resource Adequacy program enhancements>Updates on other sponsored initiatives such as energy efficiency and electric vehicle charging>Answers to Frequently Asked Questions>Regular content updates 9Source: Hawaii Office of SustainabilityExample Dashboard Pasadena Water and PowerIntegrated Strategic Plan – Dec. 5 Directive #2•Develop an integrated strategic plan that outline a path to carbon-free energy through 2030 >Integrated Strategic Plan (“ISP”)•The ISP will integrate PDMP, Cost-of-Service and Rate Studies, Waypoint Framework, various planned topic studies, and others>MSC recommended that the ISP be prepared in consultation with E3 and/or other consultants•The ISP would be analogous in format to other strategic plans like SMUD’s Zero Carbon Plan and LADWP’s LA100 plan>SMUD’s and LADWP’s strategic plans were informed by their IRPs10 Pasadena Water and PowerPerform a review of the 2023 IRP – Dec. 5 Directive #3Conduct a review of the 2023 IRP and present it to the MSC>PWP will provide the MSC with periodic informational updates supplemental to the required CEC 5-year filings11 Pasadena Water and PowerScenarios•A scenario is a mix of resources created given some assumptions•Provide valuable information towards shaping pathways to meet carbon-free goals •Internal Resources are those located within PWP’s service territory or City limits Scenario 1: 100% Carbon Free by 2030 with No Limit on Internal Resources •Limit estimated by size of resources and land available for use Scenario 2: 100% Carbon Free by 2030 with a Limit on Internal Resources •Distributed Energy Resources (DERs) include Residential Solar/Batteries and Commercial Solar/Batteries Scenario 3: 100% Carbon Free by 2030 with a Limit on Internal Resources and Doubled Distributed Resources Scenario 4: Reference Case
• Same assumptions as Scenario 4 but adds the Social Cost of Carbon as determined by the Environmental Protection Agency (EPA) to any resource that emits carbon Scenario 5: Reference Case + Social Cost of Carbon
Scenario 6: Emerging Technologies Study Scenario12
Pasadena Water and PowerResource Additions
- 200 400 600 800 1,000 1,200 1,400 1,600Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5Installed Capacity (MW)Installed Capacity By 2031Gas/Oil:Combined CycleGas/Oil:Combustion TurbineFuel CellsHydroNuclearGeothermalSolar Wind
BatteryPeak (2031)
IRP: Figure 152Trajectory of Implementation Plan13
Pasadena Water and PowerScenario 2 Procurement ScheduleScenario 2Timeline Impacts2025Retirements 108 MW IPP Coal10 MW Large Customer GenerationAdditions 54 MW Natural Gas (IPP Renewal)185 MW Solar30 MW Wind85 MW Storage2027Retirements 54 MW Natural Gas (IPP Renewal)Additions 39 MW Solar (EDF Sapphire through 2046)35 MW Geothermal (Coso Geothermal through 2041 and Calpine Geysers through 2041)20 MW Storage (EDF Sapphire through 2046)2030Retirements 212 MW Natural Gas (Glenarm + Magnolia)5 MW of Wind (Milford 1)Additions170 MW Storage35 MW Fuel Cells10 MW Geothermal400 MW of Distributed Solar400 MW of Distributed StorageOverall ImpactScenario 2 focuses on Distributed Energy Resources; specifically, solar and storage to meet needs. 14 (400)(200)02004006008001,0001,2002023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050 New Installed Capacity (MW)Scenario 2: Island: Incremental Capacity Additions Storage
SolarWind
Geothermal
Distributed Solar
Distributed Storage
OtherExisting CoalExisting GasExisting Large Hydro & NuclearExisting WindExisting SolarExisting Large Customer Generation (acts like Demand Response)Load Pasadena Water and PowerPresent Value Cost of Scenarios•Scenarios range in cost from $1.7 Billion to $3.5 Billion•Cost Representation>In 2023 dollars >Present Value Revenue Requirements (PVRR) for each scenario for each cost case (Low, Moderate, or High)•Costs affect only the energy charge portion of a customer bill>Do not include transmission and distribution, overhead, or maintenance costs1500.511.522.533.5Scenario 1 -"UnlimitedInternalCF2030"Scenario 2 -"LimitedInternalCF2030"Scenario 3 -"LimitedInternal and2x DERsCF2030"Scenario 4 -"Reference"Scenario 5 -"Reference+ SCC" Dollars (Billions)Present Value Revenue Requirement for all ScenariosStudy Period (2023 -2050)2023$Low CostsModerate CostsHigh Costs Pasadena Water and PowerBill Impacts
ScenarioEnergy Charge Portion of Customer Bill in 2030 ($/single-family residential customer, 500 kWh, monthly, High Costs Case)% Change in Energy Charge Portion of Customer Bill from 2023 to 20301$112.8850%2$150.5091%3$143.5383%4$101.7338%5$143.5390%160501001502002023 2030Monthly Impacts on Energy Charge Portion of Customer Bill ($/single family residential customer, 500 kWh)High Costs CaseScenario 1Scenario 2Scenario 3Scenario 4Scenario 5•For single-family residential customers, assuming 500kWh per month usage, and only the Energy Charge portion of the bill•Cost-of-Service study is needed to give more certainty on the exact rate impacts•Impacts do not reflect: >Stranded investment costs>PDMP estimate of $821 million in investments needed through 2042>Other components such as finance, administration, information technology and customer service>CAISO’s estimates that approx. $7.3 billion must be invested in new/upgraded transmission infrastructureNew/upgraded transmission lines are required to support new renewable resource development in CaliforniaAs a CAISO market participant, PWP will bear a portion of these costs.
Pasadena Water and Power100% Carbon-Free Trajectory to 2030 1753%73%75%82%87%88%100%
-10%10%30%50%70%90%0100000200000300000400000500000600000700000800000900000 2024 2025 2026 2027 2028 2029 2030Forecasted Emissions (Scenario 2, 2023 IRP)Statewide Reduction Target StatewideReduction Target 2023 IRP IMPLEMENTATION TIMELINEForecasted GHG Emissions (Scenario 2, 2023 IRP)202420252026 2027 20282030 Resolution 9977 Goal of100% Carbon-Free by 20302028 WAYPOINTNew 2028 IRPBegin efforts for 2028 IRPSeek pilot projects for DERs potential on residential, commercial and industrial scaleComplete additional local battery storage projectsEvaluate possible changes to customer incentives or subsidiesComplete efforts started in 2024-2026Update the City Council on progress so farReview goals for EE and DERs procurement Implement Community Solar ProgramBegin integration of AMI to provide for expansion of customer participationReview incremental opportunities for DAC/LI to address affordabilityPWP periodic update to Power Delivery Master Plan Evaluate the actual influence of the City’s Building Electrification Ordinance (effective in 2025)Continue efforts from 2024-2025 not completedUpdate the City Council on progress so farIdentify potential for EE and DERs, Community SolarEngagement to seek suitable locations for local resourcesVarious reliability studiesRate design study (rate equity)Seek additional sites for local battery storageContinue efforts from 2024 not completedUpdate the City Council on progress so far Study expansion of DERs and EELocal Battery Storage ProjectsEvaluate Community Solar Cost-of-Service StudyAMI ProjectLow-income thresholds adjustmentStudy new emerging technology opportunitiesCommunity engagement platformEngagement with government regulators and legislatorsSeek funding opportunities through various channels and in partnershipsUpdate the City Council on progress so farLevel of GHG emissions in 1990:918,622 Metric TonsForecast of 87% GHG Reduction from 1990 Levels,107% Renewable and Zero-Carbon (Exceeds 2045 SB 100 State Goal) and55% Carbon-Free (Hourly)*2026 WAYPOINTNew 2026 Power Delivery Master PlanAs new carbon-free procurements and projects occur, comprehensive resource portfolio updates will be given to MSC and City Council Continue Procurement activitiesRamp up AMI usageExecute the 2028 IRPAssess efforts started in 2024-2028Continue acquisition of renewable and zero-carbon resourcesSurvey PWP’s service territoryStudy new emerging technology opportunitiesUpdate the City Council on progress so far2029*Optimized for lowest cost results in 100% carbon-free goal objective in 2030 (not 2028) *4,871 hours of the year would be 100% carbon-free Pasadena Water and PowerChallenges and SolutionsChallenge SolutionWhat is Needed to Achieve the Solution?What are we doing to address it?Where has PWP discussed this previously?Market ConditionsMarket Expansion, R&D, Self-DevelopmentMaximize PWP’s exposure to relevant opportunities1. Monitoring the market2. Issuing PWP-specific RFP to find more offerings10/10 MSCLimited TransmissionDependent on CAISOCAISO will announce changes in their Scoping PlanLobbying relevant state officials to improve the transmission system 10/10 MSC Goodrich Upgrade GoodrichExecute 56 MW capacity expansion upgrade1. Upgrade plan is underway (PDMP)2. Studying options for reducing the timeline and shifting to internal resources11/14 and 12/5 MSCGlenarmConvert to an alternative fuel sourceZero Carbon FuelStudying the possibility of hydrogen gas usage at Glenarm, including the sourcing of green hydrogen 10/10 MSCDistributed Energy ResourcesRooftop solarDistributed storageSupport customer installations Hosting Plan and Resource Study 11/14 and 12/5 MSCDemand ResponseInstall Advanced Metering Infrastructure (AMI)Advanced Metering Infrastructure allowing two-way communication1. Planning incentives to encourage customer participation in Demand Response2. Setting up Demand Response programs utilizing AMI 12/5 MSCReliabilityStrict, uncompromising adherence to regulatory standardsMake changes to PWP’s resource portfolio only as reliability/availability performance permits1. Striving for resource diversity (by technology, internal/external, geographic location, etc.)2. Retiring resources only after determining that the rest of the portfolio will perform well enough without themIRP (Resource chapter 17)Land AvailableEfficiency and optionalityOpportunities to work with Customers and City OfficialsPursuing more energy-dense technologies as appropriate for installation inside Pasadena10/10 MSC18 Pasadena Water and PowerIndependent Review•Energy and Environmental Economics, Inc. (E3)>Recognized leader in clean energy policy implementation>Worked with clients including CEC, CPUC, CARB, and many other utilities such as SMUD and LADWP•PWP contracted with E3 to review the IRP analysis19 Pasadena Water and PowerE3 Independent Review of 2023 IRP ResultsPresented by:Nick Schlag (E3) 21 Who is E3? - Energy and Environmental Economics Inc.Thought Leadership, Fact Based, Trusted.
San FranciscoNew YorkBoston100+full-time consultants
Engineering, Economics, Mathematics, Public Policy…30 years of deep expertiseCalgary Recent Examples of E3 ProjectsE3 ClientsBuy-side diligence support on several successful investments inelectric utilities (~$10B in total)Acquisition support for investment in a residential demand response company (~$100M)Supporting investment in several stand-alonestorage platforms and individual assets across North America(10+ GW | ~$1B)Acquisition support for several portfolios and individualgas-fired and renewable generation assets (20+ GW | ~$2B)United NationsDeep Decarbonization Pathways ProjectCalifornia:100% clean energy planning and carbon market design for California agenciesNet Zero New Englandstudy with Energy Futures InitiativeNew York:NYSERDA 100% clean energy planningPacific Northwest:100% renewables and resource adequacy studies for multiple utilities300+ projects per year across ourdiverse client base
22 E3 served as a technical reviewer of Pasadena Water and Power’s (PWP’s) IRP analysis. The scope included an evaluation of the methodology for consistency with industry standards, review of inputs and assumptions, and validation of results and key findings, among others:Integrated Resource Plan (IRP) Review Purpose Results & Key FindingsResults & Key FindingsInputs & AssumptionsInputs & AssumptionsProcess & MethodologyProcess & Methodology •Modeling Methods•Scenario Design•CEC Alignment•IRP framework•Market Prices•Policies•Load Forecast•Resources•Benchmarking•Carbon Abatement Costs•Resource Mix•System CostsPasadena set an ambitious goal of delivering hourly carbon free electricity … PWP’s IRP explores strategies to accomplish that goal by 2030Given the importance and impact for Pasadena, this review provides confirmations, critiques, and insights to support PWP in this challenge 23 IRP framework and inputs and assumptions generally follow industry standards and best practices IRP results align with common trends seen in other jurisdictions seeking to decarbonize Key Findings: Review of PWP’s 2023 IRPResults & Key FindingsTechnical results are generally consistent with studies of low-carbon and carbon-free portfolios conducted by utilities and research institutions:Significant additions of renewables and energy storage across all scenariosScenarios that meet PWP’s carbon-free goal are more ambitious than most of its peers’ current goals, requiring additional resources and resulting in higher costsReliance on fuel cells is a unique aspect of PWP’s carbon-free portfolios; most other plans retain or repurpose natural gas until a commercial alternative is viableResults & Key FindingsTechnical results are generally consistent with studies of low-carbon and carbon-free portfolios conducted by utilities and research institutions:Significant additions of renewables and energy storage across all scenariosScenarios that meet PWP’s carbon-free goal are more ambitious than most of its peers’ current goals, requiring additional resources and resulting in higher costsReliance on fuel cells is a unique aspect of PWP’s carbon-free portfolios; most other plans retain or repurpose natural gas until a commercial alternative is viableInputs & AssumptionsKey inputs (load forecast, market and commodity prices, resource costs, etc.) are from reliable sources or analytical processesKey sources: CEC Integrated Energy Policy Report, NREL Annual Technologies Baseline–––Today’s market environment is rapidly shifting, and results should be interpreted within this contextRecent upward pressure on resource PPA pricing will warrant continue market monitoring for future IRP updatesInputs & AssumptionsKey inputs (load forecast, market and commodity prices, resource costs, etc.) are from reliable sources or analytical processesKey sources: CEC Integrated Energy Policy Report, NREL Annual Technologies Baseline–––Today’s market environment is rapidly shifting, and results should be interpreted within this contextRecent upward pressure on resource PPA pricing will warrant continue market monitoring for future IRP updatesProcess & MethodologyIRP complies with California Energy Commission (CEC) submission guidelines–––Framework is transparent, engages stakeholders, and sets clear objectives–––Modeling relies on industry standard standard capacity expansion and system operation modeling methodsE3 recommends additional reliability analysis in scenarios that include fossil retirement and hourly carbon-free goalsProcess & MethodologyIRP complies with California Energy Commission (CEC) submission guidelines–––Framework is transparent, engages stakeholders, and sets clear objectives–––Modeling relies on industry standard standard capacity expansion and system operation modeling methodsE3 recommends additional reliability analysis in scenarios that include fossil retirement and hourly carbon-free goals 24 E3’s work with utilities and regulators to develop long-term electric system resource plans that achieve ambitious clean energy targets support four common findings:1.Technologies available today can enable significant progresstowards ambitious state and utility clean energy objectives2.A technology-neutral approachto planning and procurement will enable utilities to meet reliability and clean energy goals most affordably3.Decarbonization of the “last 10%” poses the greatest challenge, and may lead to significant increases in costs4.Some form of firm capacity is needed for reliabilityeven under a deeply decarbonized gridThese findings are supported by a growing body of literature, including recent studies by the National Renewable Energy Laboratory (NREL), Princeton University, the Electric Power Research Institute (EPRI), and the Massachusetts Institute of Technology (MIT) Deep Decarbonization Planning Studies: Common Trends
Firm ResourcesToday: nuclear, natural gas, geothermal, biogasFuture:hydrogen, long-duration storage, nuclear SMR, CCS Scalable Low-Cost Clean Energy ResourcesToday: wind, solar, efficiencyFuture:nuclear small modular reactors (SMR), carbon capture & sequestration (CCS) Balancing ResourcesToday: batteries, pumped storage, hydro, demand response Future:advanced flexible loads, other storage technologies Blueprint for a Low Carbon Grid
25 PWP’s resource portfolios are consistent with common the blueprint for a low carbon grid•All resulting portfolios include a mix of firm capacity, scalable clean energy generation, and balancing resourcesCarbon-free portfolios (scen. 1-3) require higher quantities of clean energy and storage capacity, resulting in considerably higher costs•PWP’s carbon-free portfolios result in high “implied carbon abatement” costs (~$600-1,200 per ton in 2030)compared to the social cost of carbon assumed in Scenario 5 ($400 per ton)Among California utilities’ plans, PWP’s consideration of hydrogen fuel cells for firm capacity is unique•No other California utilities have committed to plans that include retirement of all existing natural gas plants that play critical roles in maintaining reliability•Sacramento Municipal Utility District’s current plan anticipates relying on existing gas resources for firm capacity through 2030, planning a transition to renewable fuels or CCS to support further decarbonization Key Takeaways: PWP IRP Results Benchmarking
*PWP IRP results were compared against three California planning activities to identify key differences and validate model results:1.California Public Utilities Commission IRP Preferred System Plan (CPUC Resource Plan): A 73% Renewable Portfolio Standard, with 86% GHG free resources by 20322. Sacramento Municipal Utility District Case A (SMUD 2030 Carbon Neutrality): No allowance of combustion generation beyond currently contracted biogas; no unspecified market purchases in 20303. NREL LA 100% Renewable Scenario SB100 (LA 100% Renewable Plan): 100% renewable energy by 2045Despite differences among utilities and their modeling methods and assumptions, common findings observed across a broad range of decarbonization studies should be broadly applicable and consistent across themIRP Benchmarking Framework 26 Current Trends: A Large Share of California’s Long-term Needs Will Be Met With Solar, Storage, and Other “Non-firm” Resources Peak Day Net Load(GW)2021 2025 IRP Portfolios2033 IRP PortfoliosSolarEnergy-Limited Resources (Storage, Demand Response, Hydro)WindNet LoadGross LoadRemaining firm resource needs1Hour of Day241Hour of Day241Hour of Day24 0%5%10%15%20%25%05001,0001,5002,0002,5003,0003,5004,0004,5005,000GWh5,0004,0003,0002,0001,0000 25%20%15%10%5%0%Solar Curtailment (GWh)Solar Production (GWh)Solar Curtailment (% of GWh)CAISO. Production and Curtailment Data.
The duck curve is expected to grow As more solar is integrated, the duck curve will deepenAdditional storage will help shift energy to hours of greater needAlready, annual curtailment is growing in California and with additional solar set to be deployed, the trend will only continue. Curtailment happens the most during spring months when solar production is high and demand levels are lower 27 To maintain reliability and meet clean energy objectives, utilities in California and the Southwest will add significant quantities of renewables and storage resources in the next decadeCoupled with supply chain constraints and interconnection queue issues, there is uncertainty in both cost and project execution timelinesCurrent Trends: Development Of New Resources Is Expected to Occur at an Unprecedented Rate Projected additions will exceed 10 GW per year based on utility plansAftermath of California Energy Crisis
Pasadena Water and PowerRecommendations•Adopt and Approve the 2023 Power Integrated Resource Plan (“IRP”) for filing with the California Energy Commission (“CEC”) for the Water and Power Department (“PWP”); and>Approval contingent on the addition of MSC’s Dec. 5 directivesCreate a dashboard to track progress towards meeting the carbon-free goals of Resolution 9977Conduct an internal review of the IRP in two years and present to the MSCDevelop an integrated strategic plan that outlines a path to carbon-free energy through 2030 while synergizing key inputs including the Power Delivery Master Plan (“PDMP”), Waypoint Framework, Cost of Service and Rate Studies (“COS”), and others.•Support PWP’s continuing decarbonization trajectory while exceeding State regulatory requirements, and simultaneously working towards achieving the policy goal of 100% Carbon-Free electricity by 2030, through the utilization of the 2028 Waypoint Framework supported by the 2023 IRP Scenario 2 modeling results28