...Title
Actions Related to the 2019 and 2020 Power Supply Procurement, Long-Term Renewable Contracts, and Medium-Term and Long-Term Resource Adequacy Contracts.
...Recommendations:
Adopt a resolution:
(a) Increasing the authority granted to the Director of Community Energy or her designee for the procurement of power supply products by $19,000,000 from $226,000,000 to an amount not to exceed $245,000,000 in aggregate through Calendar Year 2019; and by $80,000,000 from $222,000,000 to an amount not to exceed $302,000,000 in aggregate through Calendar Year 2020, subject to the Energy Risk Management Policy and the appropriation of funds.
(b) Authorizing the Director of Community Energy or her designee to negotiate and execute long-term Power Purchase Agreement for renewable projects, which will include the key terms listed in Attachment 1 to the staff's memorandum, with modifications, as appropriate, in consultation with the City Attorney and approval of the final agreements by the Risk Oversight Committee, in an amount not to exceed $50,000,000 annually and $1,080,000,000 in aggregate from 2020 through 2043, subject to the Energy Risk Management Policy and the appropriation of funds.
(c) Authorizing the Director of Community Energy or her designee to negotiate and execute medium- to long-term contracts using the Edison Electric Institute Agreement or the Western Systems Power Pool Agreement with modifications, as appropriate, in consultation with the City Attorney, for a term of up to twenty years to procure Resource Adequacy products from different technologies, including battery storage, in an amount not to exceed $451,800,000 in aggregate over twenty years, subject to the Energy Risk Management Policy, Risk Oversight Committee approval, and the appropriation of funds.
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. (Community Energy)