Title
a. Receive a status update on finance and governance on the formation of a Community Choice Energy (CCE) program.
b. Provide direction to staff as appropriate.
Report
RECOMMENDATION:
It is recommended that the Alternative Energy & Environment Committee:
a. Receive a status update on finance and governance on the formation of a Community Choice Energy (CCE) program.
b. Provide direction to staff as appropriate.
SUMMARY:
At the May 26, 2016 Alternative Energy and the Environment Committee meeting, a status report was presented on the Monterey Bay Community Power (MBCP) project, where an emphasis was placed on examining the resources and finances involved with a tri-county Community Choice Energy (CCE). In addition, on May 24, 2016, the MBCP Project Development Advisory Committee (PDAC) hosted a special study session at the Monterey County Government Center, where a range of topics including finance and governance were presented. Because of the projected volume of both potential resources and costs, continued analysis of both finance and governance is important for staff due diligence in the development of a recommendation to the AEE and Board of Supervisors (BoS).
The PDAC will convene several Ad-Hoc committee meetings focusing on finance options and governance structure of a MBCP Joint Powers Authority (JPA). These meetings are intended to allow potential partner jurisdictions to discuss the details of these topics, ultimately providing a clear direction for key decision makers. The meetings are scheduled on July 20 and August 31.
It is recommended that Monterey County staff from the County Administrative Office, County Counsel, Budget and Analysis and Auditor-Controller attend to learn about the key aspects and decisions of the MBCP project.
DISCUSSION:
The Monterey Bay Community Power PDAC has projected start-up costs will be approximately $2.25 million which would need to be available upon the formation of the JPA. Seed capital will depend on the ...
Click here for full text