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Agoura Hills councilmember says Clean Power Alliance rates falling as agency builds reserves
Summary
Council member Deborah Klein Lopez reported that Clean Power Alliance finalized its rates and budget, expects to reach a 50% reserve target by year end, and is seeing generation rates decline and paying down long-term contracts that yield about $40 million in annual savings.
Council member Deborah Klein Lopez, the city's Clean Power Alliance (CPA) representative, told the Agoura Hills City Council on the evening of the meeting that 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 prepaid bond financing are beginning to pay off and cited roughly $40,000,000 in annual…
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