Treasurer reports $308.7M YTD net revenue, $58M net position and strong liquidity for San Diego Community Power

Dr. Eric Washington, chief financial officer and treasurer of San Diego Community Power, presented the treasurer’s report for the period ending Aug. 31, 2025, reporting year-to-date net revenue of $308,700,000 compared with the budgeted $318,000,000. Washington attributed the revenue variance primarily to lower customer demand resulting from cooler-than-expected temperatures and said operating expense underspending contributed about $13,300,000 to the period’s net position.

Washington said the agency ended the period with a net position of $58,000,000 and total liquidity — unrestricted cash and investments — of approximately $439,900,000. He noted available access to the agency’s line of credit and other uncommitted credit pushed total available liquidity to about $667,000,000. Investment balances were described at roughly $83,000,000. The report also showed the agency at about 159 days cash on hand against a target reserve goal of 180 days.

Washington highlighted steady customer participation rates and credited the finance and executive teams for conservative spending and building reserves over the trailing 12 months. He told the committee staff will bring a quarterly portfolio performance update in a future meeting tied to the September year-to-date treasurer’s report. Committee members thanked Washington and staff for fiscal diligence; no public comments were received on the treasurer’s report.

The committee set its next regular meeting for Dec. 4, 2025, at 3 p.m. at the Port administrative building boardroom.