[{"_1":2,"_111":-5,"_112":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6637169,"mediaKeyId","2589130-0bef4757ed732c56c668d045eaace51d","parentId",2589130,"title","SVCE outlines affordability strategy: outreach, efficiency programs and targeted credits","audioSeconds",808,"startMs",6817000,"endMs",7625000,"viewUrl","/Search/View?dp=1&key=2589130-0bef4757ed732c56c668d045eaace51d&start=6817&end=7625","thumbnailUrl","https://assets.pipeline.soar.com/2589130-0bef4757ed732c56c668d045eaace51d/thumbnail_6817000.jpg","articleUrl","/articles/6637169/Cupertino/Santa-Clara-County/California/SVCE-outlines-affordability-strategy-outreach-efficiency-programs-and-targeted-credits","mediaUrl","https://secure.pipeline.soar.com/6637169-a8321a4f65cdba11bf679078d64f2648/orig.mp4?Expires=1771183473&Signature=gk2bYO-BH-d18o80~6oEpPpKYNBLpeJu4vZMu8nQcKtGdje0ud15kbxDq-49FBS64tpMDQpnB-sCtBEFZcUEO0NS4~V~36qiqO2qPSRhs8oZqPz~aWRZ9McdudJGjDiIwqR0BrscFIhRX0ze3Y0m~EeAQxFhsKH-MXa9bGBKdS4eGbs6MB6erF~73IFmN0sKhsxzWuxWq-IVErcbFFPhawYQcEZO~yio4KuC3rF7HlRSiF5y93ZqWI-UtHlhXUE54u2yaHHvgjnJ3kMjgEApjqvbeJ4RwpMBi5CcsGb5KiAIxHwJC37gE-Q98xFfHPswGYf6o97MmxRfABtYFB7j4g__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Cupertino","date","2025-03-13T04:52:50.067Z","article","Silicon Valley Clean Energy staff presented an update on the agency’s affordability strategic focus area, outlining outreach for income‑qualified customers, an expanded emphasis on energy efficiency and program design that bundles electrification with efficiency measures.

Justin, SVCE’s affordability lead, described the initiative as work across three pillars: education and outreach, advocacy, and rate and program design. He and billing lead Peyton Parks showed staff research illustrating that roughly two‑thirds of a typical SVCE bill is for transmission, distribution and other PG&E‑controlled charges that SVCE cannot directly set. \"This is a big table. Don't try to read it right now,\" Justin said during the presentation, summarizing a multi‑track effort to align communications, programs and advocacy to lower customers’ total energy burden.

Peyton explained data staff used to estimate energy burden across census tracts and showed SVCE territory totals: the agency serves about 281,000 accounts, including roughly 27,000 Care/FERA accounts and about 16,000 customers in delinquency (more than 60 days past due). Peyton noted delinquency has increased roughly 50% since 2020.

Staff detailed several programmatic steps: (1) expanded promotion of energy efficiency tools (including PG&E‑administered offerings such as Home Intel), (2) targeted outreach to census tracts with concentrations of eligible low‑income customers and delinquent accounts, using multi‑language materials, direct mail, out‑of‑home advertising and community‑based organization partnerships, and (3) embedding efficiency measures in turnkey electrification programs (for example, bathroom fan timers, pipe insulation, lighting and efficient appliances) to reduce operating costs when customers electrify.

On advocacy, staff said SVCE will continue to engage in CPUC rulemakings and PG&E cases that shape transmission, distribution and PCIA policy, because those charges drive most of the final retail price customers pay. \"This is a way where we can influence that,\" Justin said, describing participation in general rate cases and other proceedings.

Director questions focused on practical outreach and program scale. Board members asked about language access and partnerships with community organizations; staff said translations are planned and that a campaign using census hot‑spots will direct mail to about 5,000 likely eligible households while broader materials will be available to all customers. Staff also said they estimate current Care/FERA enrollment in SVCE territory is roughly 70–80 percent of eligible customers, leaving room for targeted outreach.

The presentation reiterated a recurring staff point: SVCE controls about one third of the retail electricity bill (generation), so while SVCE can design rates and programs to encourage electrification and time‑of‑use savings, broader reductions in total bills require changes to PG&E‑controlled charges or state policy.","mediaType","Video","parentTitle","SVCEA Board of Directors Meeting - March 12, 2025 (Live Streamed Version)","oneSentenceSummary","Silicon Valley Clean Energy staff presented an update on the agency’s affordability strategic focus area, outlining outreach for income‑qualified customers, an expanded emphasis on energy efficiency and program design that bundles electrification with efficiency measures.","taxTitle","Cupertino, Santa Clara County, California","taxId",3985,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6637173,"Silicon Valley Clean Energy board approves $35 million one‑time bill credit in midyear budget",4551,2245000,6796000,"/Search/View?dp=1&key=2589130-0bef4757ed732c56c668d045eaace51d&start=2245&end=6796","https://assets.pipeline.soar.com/2589130-0bef4757ed732c56c668d045eaace51d/thumbnail_2245000.jpg","/articles/6637173/Cupertino/Santa-Clara-County/California/Silicon-Valley-Clean-Energy-board-approves-35-million-onetime-bill-credit-in-midyear-budget","https://secure.pipeline.soar.com/6637173-336eae6a406a1e41da598e11752c5d4b/orig.mp4?Expires=1771183473&Signature=D4yZy4eKvgrFm6jWY6OxG~fTpw8Etj1Ij8bgiqv04duzS6lW1Q5uwEoKimHPLx1wegKMUojgljIhP77~~wa5P07gQtabCdGY0a--A8sH3e9RpfcEMYa0o4N3fYnMd7PSBYZ4WcA4KaQXORwdI-cN7SKe1Iat9NKf1m4lt1HOveBMZz03mYYVbp6QiO4GP1iHFbLxjcmEBnSumbiPfWbsubIdV~O2L9vK7Lm982B6zniLZzLD2WhPC6d9eS8-YIfbIi~7Ubkq6KP7ebjqxbIWL9apRh~OA473trU2lpeN5GFmvSEJSdp6NT~KRiauOZxmG7Nr0vB~Ay4B-OY1Bfia~A__&Key-Pair-Id=KUT5TJCACFTXG","The Silicon Valley Clean Energy board voted unanimously to adopt a midyear adjusted operating budget that includes a $35 million one‑time customer bill credit and funding to add five staff positions, the agency’s finance staff said at the board meeting.

The midyear amendment, presented by staff member Amrit, updates revenue and power‑supply assumptions from SVCE’s December forecast and reflects lower forward market prices for renewable and resource adequacy products. Amrit told the board the combination of lower energy prices and updated assumptions allowed SVCE to propose a one‑time bill credit targeted for August, when customers typically see higher bills.

The board discussed alternatives including a volumetric discount across 2025 versus a single monthly credit. Director Lee moved to adopt the resolution approving the adjusted operating budget; the motion carried unanimously on a roll‑call vote.

SVCE staff described the credit as the cash equivalent of a 10 percent volumetric discount for calendar year 2025, estimated at about $33 million on expected customer counts. Staff proposed a $35 million authorization to include a $2 million buffer to cover normal month‑to‑month account count variation, and asked the board to give staff flexibility to finalize segment‑level amounts. In an illustrative split shown to the board, the average residential customer would receive roughly a $48 one‑time credit in August; nonresidential and specialized metered classes would be allocated proportionate shares based on usage or account type, with staff reserving discretion to refine the segmentation prior to implementation.

Amrit emphasized the choice is intended to balance near‑term customer relief with prudence on liquidity: the board’s reserve policy targets roughly 350 days of cash on hand. Amrit said the midyear figures still leave liquidity close to that target even after the bill credit, but cautioned that multi‑year projections show near‑term deficits because of the way PG&E’s Power Charge Indifference Adjustment (PCIA) balances mark‑to‑market changes across years. “That’s why our bottom line this year is good. But next year, we’re going to have to return this back and that’s why we’re forecasting negative,” Amrit said, explaining how prior purchases and PCIA accounting can push future costs higher when market prices fall.

Board members debated messaging and design. Director Showalter said the larger one‑time credit would be more visible to households than a small monthly reduction. Director Walia asked about outreach and communications to prevent confusion when customers see a large single credit in the highest‑use month; staff said a marketing and outreach plan is already in development. Director Scazzola and others urged staff to publicize the credit and emphasize programmatic investments so customers connect the credit to SVCE’s work on affordability.

The adopted midyear budget also authorizes five new full‑time positions across customer success, planning, finance (data management) and procurement/risk functions. Staff said the hires will expand internal bench strength, reduce reliance on outside consultants for analytics and portfolio valuation, and improve continuity for complex front/middle/back office power functions.

The board received staff projections showing the five‑year outlook turning negative in the next two fiscal years under current market expectations, but that reserves and the newly proposed credit would keep SVCE above the board’s minimum and near its 350‑day target. Staff outlined a schedule to return in June with stress‑test analysis and to carry the regular budget process forward for September adoption of the fiscal 2026 budget.

Votes at the meeting were recorded by roll call; the midyear budget resolution passed on a unanimous vote.

SVCE staff said they will finalize the mechanics, customer segmentation and the precise credit amounts later in the summer and bring details to the board as needed. The implementation schedule calls for a single bill credit in August 2025, targeted outreach for low‑income and high‑need customers, and marketing to explain the one‑time nature of the credit.","The Silicon Valley Clean Energy (SVCE) board adopted a midyear adjusted operating budget that includes a $35 million one‑time bill credit for customers, approval of five new staff positions and continued reserve targets after staff projected falling future-year net results driven by PCIA adjustments and changing market prices.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6637159,"SVCE touts Moody’s credit upgrade and announces new headquarters purchase and RFP for project manager",44,544000,588000,"/Search/View?dp=1&key=2589130-0bef4757ed732c56c668d045eaace51d&start=544&end=588","https://assets.pipeline.soar.com/2589130-0bef4757ed732c56c668d045eaace51d/thumbnail_544000.jpg","/articles/6637159/Cupertino/Santa-Clara-County/California/SVCE-touts-Moodys-credit-upgrade-and-announces-new-headquarters-purchase-and-RFP-for-project-manager","https://secure.pipeline.soar.com/6637159-3b2e06877dc6b28b9b5d27f186ea20c6/orig.mp4?Expires=1771183473&Signature=T3DaRWQCvpPsA2itM1TvOJ1bZVXq~xAo4v7hGmKGajqOqB6Js0b~BJOlDw8l4uVVQox~gQJcxFQicx3iAoMBEnLCf33OBrM0Xw3sgkhyMvkMoMdi4RTBosBkFiABhy2s0yO~QT0tWJIlRocF6r5y-WzCMgVxhzYNPjCXpCb95YV1RxwufTZdYGWhMuZxj-99JDg7YBcZkq0yXIyW~9T6bO4Y3ytS5Mdxasv5bF39zjhvjWeoNdORVXs7bhTMwTxZI9M8Z6MCDXozytcoLmQigYC8sbXTFhseAuMKOL0MqdgaX7USYjfiQLVSRl0mLNc4n6n3iso3ktf7N9uXbcx38Q__&Key-Pair-Id=KUT5TJCACFTXG","In her CEO report to the Silicon Valley Clean Energy board, the agency’s chief executive highlighted an upgrade of SVCE’s credit rating and the recent purchase of a headquarters building, and introduced a newly hired information‑technology support specialist.

The CEO said Moody’s upgraded SVCE’s issuer rating from Baa1 to A3, a move staff described as improving SVCE’s ability to negotiate power‑purchase and other financing transactions. \"This recognition is very well deserved,\" the CEO said in remarks introducing the news.

The agency also closed on a new headquarters building and has issued a request for proposals to hire a project manager to oversee the design and build of the space, staff said. The board was told staff will bring proposals for community input and board review as the design process advances.

SVCE introduced Philip Wing, an information‑technology support specialist who joined SVCE after six years at Prometheus Real Estate Group. Wing said he has more than nine years of IT experience and will support staff operations; the CEO said staff also briefly served as the safety officer during a lights outage at the meeting and praised Wing’s response.

The CEO also noted recognition of Director Yvonne Martinez Beltran as a district “Woman of the Year” and announced brief staff presentations on state and federal legislative activity scheduled later in the meeting.

No board action was required on the announcements; the updates were presented for information.","SVCE’s CEO reported a Moody’s credit rating upgrade to A3, said the agency closed on a new headquarters purchase and issued an RFP for a project manager, and introduced a new IT support specialist hired this month.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6637164,"External auditors give SVCE a clean opinion; board receives audit and reappoints partner through 2026",299,1201000,1500000,"/Search/View?dp=1&key=2589130-0bef4757ed732c56c668d045eaace51d&start=1201&end=1500","https://assets.pipeline.soar.com/2589130-0bef4757ed732c56c668d045eaace51d/thumbnail_1201000.jpg","/articles/6637164/Cupertino/Santa-Clara-County/California/External-auditors-give-SVCE-a-clean-opinion-board-receives-audit-and-reappoints-partner-through-2026","https://secure.pipeline.soar.com/6637164-19578e00f7201b2e0b8c35748a7e6697/orig.mp4?Expires=1771183473&Signature=fz~0pNc7LzgVyaoBryX8SGmtPx7w5QL-HpJ8cLKkk5ztUr~NlF5htYK~E50gzx8PsKieDwNl15HSdiK1yp8X86JOVtpsKvfs3WA03~AnSL3zD3tunQ2sTDnSrKDpmAByqKZxyVgztOJArHLqIzWxJwEjuYTRPbScpNyqPI2FkPf60BaPCnPQU9dmU1PEtVARmZ6cKq1BnVOU~ebnOzAB0mymD5onC3STK78~EfnEea4Nk--KV6vKCxI1sPXVYd3s~2Fs~aHIazPfLWdty~smpnjDfu9jXXdfzP~MK~ETHC0PC1eUQOcYzaUJNiBJottHTlmwHxS4eljV4rgwkT3Lgg__&Key-Pair-Id=KUT5TJCACFTXG","Silicon Valley Clean Energy’s independent auditors reported an unmodified (clean) audit opinion on the agency’s fiscal year 2024 financial statements and the board voted to receive the audit results unanimously.

Helen Gilbert, the engagement audit partner, told the board the audit produced an unmodified opinion: \"based on our opinion, the financial statements were free of material misstatement,\" she said during her presentation. Gilbert summarized the audit approach, including tests of revenue recognition, accrued cost of electricity and note disclosures, and noted there were no reportable deficiencies, disagreements with management or limitations to the auditors’ scope.

Gilbert also explained the firm completed a combination with a larger regional practice and will operate under a new unified name over the summer of 2025; she said the local Santa Rosa office will continue to provide the same audit staffing and services. The auditors confirmed a signed contract to provide audit services through the fiscal year ending Sept. 30, 2026.

Following the presentation, the audit committee chair briefed the board on the committee’s review and recommended the board receive the results. Director Showalter moved to approve the committee recommendation to receive the audit results; the motion carried unanimously on a roll‑call vote.

Board members asked whether a clean opinion means an agency is financially healthy; Helen Gilbert clarified that an audit opinion addresses whether the financial statements are accurate, not whether reserves or surpluses are sufficient. \"Our opinion isn't on the overall health of the financial statements,\" she said, explaining a clean opinion means the statements are free of material misstatement if prepared accurately by management.

The board then voted to receive the audit results and approved the audit committee’s recommendation to continue the engagement through the contract term.","Independent auditors issued an unmodified opinion on SVCE’s fiscal year 2024 financial statements and informed the board of a firm name change and a signed contract through Sept. 30, 2026. The board voted to receive the audit results unanimously.","actionData","errors"]

Article not found

SVCE outlines affordability strategy: outreach, efficiency programs and targeted credits

Silicon Valley Clean Energy board approves $35 million one‑time bill credit in midyear budget

SVCE touts Moody’s credit upgrade and announces new headquarters purchase and RFP for project manager

External auditors give SVCE a clean opinion; board receives audit and reappoints partner through 2026