Deborah Klein Lopez

The Board of Directors approved the consent agenda and discussed the approval and authorization of a 20-year, 200 megawatt solar plus 200 megawatt storage renewable power purchase agreement for the Rexford 2 project with 2SV8ME LLC. Additionally, the Board engaged in a discussion regarding the process for reviewing unredacted contracts and future analysis of project buyout options.

The committee held a soft launch of a new electronic voting system and discussed plans for its full implementation by September. The CEO provided an update on the SunZia project, a major wind energy initiative. Additionally, the committee discussed the agenda for an upcoming board retreat, including topics such as potential expansion, programs roundtables, and legislative developments regarding the Diablo Canyon nuclear power plant. The committee also touched upon long-term communications strategy and potential anniversary celebrations.

The committee meeting focused on updates to the innovation solicitation process and an annual review of the Energy Risk Management Policy (ERMP). Key topics included proposed amendments to hedge strategy methodology, resource adequacy measurements, and contractual authority references. The committee also discussed the process for allocating California Independent System Operator (CAISO) commercial interest points and the addition of new authorized transaction types to the ERMP, such as California carbon allowances and day-ahead market enhancement products related to grid management.

The Board of Directors discussed the fiscal year 2026-2027 rates, marking the fifth rate decrease over the past two years. Key topics included a detailed analysis of generation versus delivery rates, strategies for improving public communications regarding bill charges, and updates on legislative efforts related to transmission lines and governance structures. Additionally, there was a discussion on the validation and auditing of delivery charges and future outreach priorities.

The committee meeting focused on the commercial operation of the Senzia wind project and the presentation of the 2026 integrated resource plan, including discussion on its purpose as a directional planning tool and the key assumptions used for modeling the resource buildout to meet state environmental targets. The committee also discussed the inclusion of resource options, the exclusion of specific nuclear power sources based on state law and internal policy, and received an introduction for the new resource planner.