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Staff also propose a mid-year Q2 2022 rates review to evaluate forecasts and potential additional funding for clean energy procurement, program implementation, and further credits during peak summer months. The report updates a cost-based rate structure exploring Standard Green, UltraGreen, and a least-cost option.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/vce-2022-customer-rates-staff-report-item-15/315788/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/vce-2022-customer-rates-staff-report-item-15/315788.png","ImageObject",300,407,{"name":92,"@type":93},"WPS_1786070896","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-02","2026-09-20",true,{"@type":102,"interactionType":103,"userInteractionCount":52},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What does the Board need to approve regarding VCE 2022 customer rates?","Question",{"text":112,"@type":113},"Approve VCE 2022 customer rates by matching 2022 customer rates to PG&E 2022 generation rates for all customer classes, and include a 2.5% rate credit for CARE and FERA customers in 2022.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Why is a mid-year rates review planned for Q2 2022?",{"text":117,"@type":113},"To assess the rates forecast and determine feasibility of allocating additional funds for clean energy content procurement, program implementation, and providing additional rate credits for all customer classes during peak summer months in 2022.",{"name":119,"@type":110,"acceptedAnswer":120},"What customer rate options does the staff plan to develop under a revised rate structure?",{"text":121,"@type":113},"A revised structure with three options: Standard Green (default), UltraGreen (100% renewable) with cost-based rates, and a least-cost customer rate option.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},315788,1790175800,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":52,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":29,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":143,"read_time":144,"preview_page_count":4},549768072016,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","VALLEY CLEAN ENERGY ALLIANCE  \nStaff Report – Item 15  \n\n| TO: | Board of Directors |\n| --- | --- |\n| FROM: | Mitch Sears, Interim General Manager\u003Cbr>Edward Burnham, Director of Finance & Internal Operations |\n| SUBJECT: | VCE 2022 Customer Rates |\n| DATE: | February 10, 2022 |\n\nRECOMMENDATIONS  \n1. Approve VCE 2022 Customer Rates:  \na. Customer rates for 2022 to match PG&E 2022 generation rates for all customer classes.  \nb. A rate credit of 2.5% for CARE and FERA customers in 2022  \n2. Conduct a mid-year rates review in Q2 2022 to assess rates forecast and determine the feasibility of:  \na. allocating additional funds for 2022 clean energy content procurement,  \nb. allocating additional funds to program implementation,  \nc. providing additional rate credits for all customer classes during peak summer months in 2022.  \n3. Direct Staff to continue to develop and evaluate the feasibility of a revised rate structure with three customer options: (1) Standard Green (default) and (2) UltraGreen (100% renewable) with cost-based rates and adding a (3) least-cost customer rate option.  \nOVERVIEW  \nBeginning in mid-2020, VCE began exploring the concept of cost-based rates to address financial issues associated with the power market and regulatory volatility. Steeply rising Power Charge Indifference Adjustment (PCIA) (+46% for 2021) and power market costs (+57% since May 2021), have required VCE to draw on reserves to stabilize customers rates and maintain its current rate policy of matching PG&E generation rates. In Q1 of 2021, the Board directed Staff to develop an expanded and cost-based rate structure to address these issues. In September, Staff presented a background report to the Board and CAC that included a draft outline rate structure and development/implementation schedule.  \nBased on updated power market forecasts and VCE financial model results that corrected an overestimation of the value of VCE's long-term renewable contracts, the Board approved an accelerated rate adjustment of approximately 2% on the average overall customer bill in midOctober. This cost-based rate adjustment decreased the draw on reserves.  \nThe Community Advisory Committee considered the proposed cost-based rate policy and structure at its November 28, 2021 meeting and updated the recommendation for the 2022 rates on January 20, 2022.  \nThis report and recommendation update the customer rates consistent with recent CAC and Board direction. In addition, VCE will continue to develop rates calibrated to actual cost and reserve requirements rather than simply indexed to PG&E's generation rates for 2023.  \nBACKGROUND  \nIn 2017, prior to launch, VCE adopted and registered its Implementation Plan with the California Public Utilities Commission (CPUC) . The Plan included a provision that program rates must collect sufficient revenue from participating customers to fully fund VCE's budget, including the need to establish sufficient operating reserve funds. Over the past three years VCE has systematically analyzed policy options and implemented strategies to stabilize customer rates, reduce cost, and manage reserves. This is in keeping with its Strategic Plan goal to maintain financial stability while continuing to offer customer choice, competitive pricing and establishment of local programs. Several of these key financial mitigation strategies have included: discontinuing a rate discount, scaling back voluntary procurement of renewable energy credits (RECs), and signing long-term contracts for fixed price renewable/battery storage projects.  \nRecognizing that additional steps may be needed to achieve cost recovery objectives, in early 2020 staff began investigating rate related strategies employed by other CCAs designed to address on-going financial pressures outside of a CCAs control (e.g. PCIA, RA, power market prices) . Based on general Board direction, research was conducted with input from the CACRates Task Group through mid-2021, resulting in a staff con","cbCaij7Fh90PM3Qw","https://ap.wps.com/l/cbCaij7Fh90PM3Qw","pdf",199268,"English","# Recommendations\n## Rate approval and credits\n## Mid-year review and potential funding\n## Revised rate structure with three customer options\n# Overview\n## Background on cost-based rate exploration\n## Prior rate adjustment and forecasting updates\n# Background\n## Implementation plan and financial mitigation strategies\n## Research and development timeline\n# Rate Adjustment and Policy Update\n## October 21, 2021 rate adjustment\n## November 10, 2021 cost-based rate policy update\n# Additional Rate and Financial Factors\n## PG&E ERRA filings and CPUC options","[{\"question\":\"What does the Board need to approve regarding VCE 2022 customer rates?\",\"answer\":\"Approve VCE 2022 customer rates by matching 2022 customer rates to PG\\u0026E 2022 generation rates for all customer classes, and include a 2.5% rate credit for CARE and FERA customers in 2022.\"},{\"question\":\"Why is a mid-year rates review planned for Q2 2022?\",\"answer\":\"To assess the rates forecast and determine feasibility of allocating additional funds for clean energy content procurement, program implementation, and providing additional rate credits for all customer classes during peak summer months in 2022.\"},{\"question\":\"What customer rate options does the staff plan to develop under a revised rate structure?\",\"answer\":\"A revised structure with three options: Standard Green (default), UltraGreen (100% renewable) with cost-based rates, and a least-cost customer rate option.\"}]","VCE 2022 Customer Rates - Staff Report - Item 15 | PDF",1789906476,15]