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Clean Power SF reports 86,000 sites enrolled as staff readies contracts and credit facility
Summary
Assistant General Manager for Power Barbara Hale told the Public Utilities Commission that Clean Power SF serves about 86,000 accounts, with a 3.2% opt-out rate and 3.8% Super Green upgrades; staff have shortlisted 44 renewable projects and are negotiating supply contracts and a bank credit facility to support citywide enrollment.
Assistant General Manager for Power Barbara Hale told the San Francisco Public Utilities Commission on Oct. 10 that Clean Power SF is serving roughly 86,000 sites and managing enrollment and contracting work ahead of citywide expansion.
Hale said the program's opt-out rate is about 3.2% and that 3.8% of customers have upgraded to the program's Super Green option. She told commissioners that staff have posted shortlists after a renewable request for offers that drew more than 300 bids from 78 distinct projects and that 44 projects remain on the shortlist for possible contracting to deliver energy between 2018 and 2021.
The program is also negotiating supply terms and financial backstops to support commitments, Hale said: finance staff are working on a bank credit facility that would provide one or more standby letters of credit, and staff are in discussions with JPMorgan as a potential counterparty. On the regulatory front, Hale said Clean Power SF is engaged in California Public Utilities Commission rulemaking on the power charge"/"difference (the former exit fee) and is coordinating with the California Community Choice Association to track bills that could affect community choice aggregation.
Hale said staff expect a next small enrollment in January 2018, that there are about 180 customers on a wait list (roughly 48% of whom requested Super Green), and that contracting and portfolio development work will continue over the coming months so Clean Power SF can present formal supply agreements to the commission.
The report concluded with an invitation for questions from commissioners; none were raised during the briefing. The commission did not take formal action on contracting during the meeting.
Next steps: staff will continue negotiating supply agreements and the bank credit facility and will return to the commission with procurement recommendations and contract terms as those discussions progress.
