San Diego Community Power previews $1.2 billion budget, proposes $21.4 million capital investment and $18.8 million solar‑battery program

San Diego Community Power on a May 2025 regular meeting at the Port of San Diego Administration Building received a preview of its draft FY2025–26 operating budget, the FY2025–26 capital budget and a FY2026–2030 capital investment plan and asked staff to return in June with a recommendation to adopt the budgets for the fiscal year beginning July 1.

The draft, presented by Timothy Nagamal, director of finance for San Diego Community Power, projects roughly $1.2 billion in revenue and proposes a one‑time transfer of about $21.4 million into the capital investment plan, including about $18.8 million proposed for a continuation of the agency’s solar‑battery savings program. "This year's budget continues to grow reserves," Nagamal said as he summarized the document to the board.

Why it matters: the operating budget and capital plan fund the agency’s energy purchases and local programs and set staffing and reserve targets that affect rates and program continuity for customers. The board discussed market volatility, potential federal policy changes affecting tax incentives, and the need to protect vulnerable customers while the agency pursues longer‑term reserve and renewable goals.

Key facts and details

- Revenue and major line items: Nagamal said the packet reflects a revenue budget of about $1.2…