San Diego Community Power board adopts budget amendment, appoints FRMC member and approves multiple energy storage contracts

San Diego Community Power’s board of directors on Feb. 27 approved several measures aimed at shoring up finances and expanding the agency’s energy storage portfolio, including a midyear operating- and capital‑budget amendment, adoption of a presiding‑officer policy, appointment to the Finance and Risk Management Committee and approvals of multiple battery energy storage agreements.

The board adopted an amended FY 2024–25 operating budget and FY 2024–25 capital budget and the FY 2025–29 capital investment plan to reflect higher energy costs, principally resource adequacy and renewable pricing, and to fund local programs. Director Timothy Manquemont, director of finance (presenter), said the amendment increases revenue appropriations by about $43.3 million and expenses by roughly $43.2 million, producing only $200,000 of net income change and preserving a near‑zero net amendment.

Board members said staff made focused reductions in non‑energy costs to offset energy price pressure. Director Yamani praised staff diligence in finding savings and recommended approval. The board approved the amendment by roll call vote.

The board also unanimously adopted Resolution No. 2025‑02…