Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
SFPUC says Shell collateral renegotiated, frees $6M for Clean Power SF incentives and studies
Summary
SFPUC staff told LAFCO that Shell agreed to reduce escrow collateral from $15 million to $7 million, freeing roughly $6 million within a $19.5 million appropriation to fund energy-efficiency incentives, solar incentives and local-buildout studies if the Clean Power SF program launches; commissioners and public commenters also pressed a contractor (Local Power) for missing deliverables.
Michael Campbell, a San Francisco Public Utilities Commission staff member presenting to the Local Agency Formation Commission, said the city renegotiated terms with Shell that cut escrow collateral for the Clean Power SF contract from $15,000,000 to $7,000,000.
“That reduction and the adjustment in the security account frees up about $6,000,000 from the initial $19,500,000 appropriation,” Campbell said. He said the SFPUC proposes using that $6 million to seed program launch with $2,000,000 for energy-efficiency incentives, $2,000,000 for go-solar incentives for…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
