Mayor Pro Tem: Clean Power Alliance board approved generation rate cut; agency again named top 100% green provider
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Summary
Mayor Pro Tem Klein Lopez said the Clean Power Alliance board approved a generation rate reduction effective Feb. 1 to offset a recent spike and noted the agency was recognized for a third year as the largest provider of a 100% renewable product in the U.S., serving over 3 million customers.
Mayor Pro Tem Klein Lopez told the Agoura Hills City Council on Feb. 11 that the Clean Power Alliance board approved a generation rate reduction that took effect Feb. 1 and was intended to blunt a recent spike in generation costs. "We actually voted in a rate... a rate reduction that reduced the rates about 20% of basically, wiping out what that spike would have been," Klein Lopez said.
Klein Lopez also noted that Clean Power Alliance has been recognized for the third straight year as the nation’s largest provider offering a 100% renewable energy product. She said the joint power authority serves more than 3,000,000 residential and business customers and was formed in 2017. She described the agency’s procurement as sizable and reminded the audience that the authority maintains reserves and a fiscal stabilization fund to manage rate volatility.
The update was informational; the council did not take action on Clean Power Alliance matters at the meeting.