Commission questions CCEF's funding transparency for $25M program commitment

The Colorado government meeting held on July 11, 2025, focused on the Public Service Company's Tariff On-Bill Financing Program, specifically addressing concerns regarding the financial arrangements with the Colorado Clean Energy Fund (CCEF). The discussions highlighted a lack of transparency from the company regarding its contractual commitments and funding capabilities.

The meeting began with inquiries about the absence of a signed contract between the Public Service Company and CCEF. Representatives confirmed that no draft documents detailing the agreement had been provided, raising concerns about the company's argument that a contract does not need to be filed with the commission. This lack of documentation was identified as a significant issue by Trial Staff, emphasizing the need for clarity in the financial arrangements proposed.

Attention then shifted to the financial commitments made by CCEF. It was noted that CCEF is currently committing $10 million to launch the program, with discussions underway to potentially increase this amount to $25 million. However, representatives expressed uncertainty about whether CCEF could secure additional funding beyond the initial commitment, indicating a gap in communication and understanding regarding the fund's financial capabilities.

The commission was reminded of its authority to request higher initial capital commitments from CCEF, potentially up to ten times the current amount. This led to discussions about the necessity for the company to clarify its funding sources and the implications of interest rates associated with the financing program.

Overall, the meeting underscored the importance of transparency and clear communication regarding financial commitments in the Tariff On-Bill Financing Program. The commission's next steps will likely involve further discussions to ensure that the necessary funding is secured and that the program can proceed effectively.