San Diego Community Power board adopts FY2026–27 budget, approves $71.4M capital appropriation

San Diego Community Power’s board voted June 25 to adopt its FY2026–27 operating budget, the FY2026–27 capital budget and a five‑year capital investment plan.

Timothy Mangleott, senior director of finance and risk, summarized the proposal and said staff had reduced the non‑energy budget by $820,000 largely by removing two positions. He said the adopted operating budget produces a net margin of $3.9 million and staff expects reserves to grow to approximately 280 days of cash on hand to cushion potential future PCI changes and to fund a rate stabilization reserve intended to support a projected double‑digit rate decrease for customers on Jan. 1, 2027.

The capital appropriation for FY27 was presented as $71.4 million. The five‑year capital investment plan covers nearly $300 million in anticipated investments over the next five years and includes continuing projects such as the San Diego regional energy network, the solar‑battery savings program and pilot initiatives.

Directors discussed cost‑saving priorities and asked staff to ensure discretionary outreach and event spending remains aligned with ratepayer interests. "I want the public to always know that we are being very careful with their resources," one director said, urging the agency to prioritize savings that directly support increasing sustainable energy use.

After board discussion and no public comments, the board moved, seconded and adopted Resolution 2026‑10 to approve the operating budget, the capital budget and the five‑year CIP. Staff said they plan to return in January to apply rate stabilization funds as part of a broader plan for customer rate relief.