Lifetime Citizen Portal Access — AI Briefings, Alerts & Unlimited Follows
Council member reports Clean Power Alliance rates falling, reserve targets expected to be met
Loading...
Summary
Council member Deborah Klein Lopez updated the council on Clean Power Alliance’s finances and customer programs, saying long-term contracts and financing are improving stability and generation rates are decreasing for Agoura Hills customers.
Council member Deborah Klein Lopez gave the Agoura Hills City Council an update on Clean Power Alliance (CPA), the community choice aggregator that supplies generation for many local customers. Klein Lopez said CPA finalized its rates and budget for the next fiscal year and is in a strong financial position.
Klein Lopez said CPA’s long-term energy contracts and prepayment bond financing are producing savings — she cited roughly $40 million per year in savings from bond prepay strategies — and that the agency expects to meet a 50% reserve target by the end of the fiscal year. "We are going to continue to expand our customer programs and marketing," Klein Lopez said, and she added that CPA is investing in workforce development and apprenticeship programs as jobs shift to a greener economy.
Klein Lopez told residents that CPA handles the generation portion of the electric bill and that CPA’s generation rates are expected to be competitive with Southern California Edison rates when Edison adjusts theirs later in the year. She said most Agoura Hills residents and businesses defaulted into CPA’s 100% renewable rate and that over 90% remained enrolled; customers may opt down or opt out.
No council action was taken; the update was informational.
