en.Wedoany.com Reported - The Clean Power Alliance (CPA) Board of Directors has approved the budgets for fiscal years 2026-27 and 2027-28, a decision made at the June 4, 2026 meeting. As California's largest community choice energy aggregator, CPA has strengthened its commitment to clean, reliable energy in the new fiscal year budget and plans to advance initiatives such as empowering customers, supporting economic opportunities, and enhancing energy resilience, aiming to maintain stable energy costs for the 38 communities it serves in Southern California.
Susan Santangelo, CPA Board Member and Chair of the Finance Committee, stated that as a nonprofit public power provider, all of the agency's work is centered on creating value for the communities it serves, including maintaining competitive rates and expanding access to clean energy options. She noted that financial strength enables CPA to continue providing customer benefits and lays the foundation for building a more resilient energy future.
The budget reflects CPA's strong financial position, with key investment areas including clean energy portfolio delivery and competitiveness, customer benefits and impact, organizational effectiveness, and industry leadership. Given its growth and increased predictability in multi-year planning, CPA is transitioning to a two-year budget cycle to enhance efficiency and optimize resources.
For fiscal years 2026-27 and 2027-28, CPA has allocated approximately $1.07 billion and $1.06 billion, respectively, for energy procurement, accounting for 93% and 92% of total expenditures. These funds are intended to serve customers, enhance grid reliability, and support California's goal of achieving 100% clean energy through the deployment of solar, wind, geothermal, and battery storage projects. Operating expenses account for the remaining 7% to 8%, with $86 million in fiscal year 2026-27 and $98.2 million, or 8%, in fiscal year 2027-28.
Budget highlights include a $137 million reduction in energy costs, contributing to rate stability and competitiveness, reflected in the expected commissioning of over 460 megawatts of long-term renewable energy and storage contracts in fiscal year 2026-27, declining renewable energy and day-ahead energy market prices, and CPA's continued procurement cost savings through innovative prepaid bond financing programs. CPA expects to maintain healthy reserves consistent with its reserve policy, with financial metrics outperforming peer community choice aggregators and consistent with an A credit rating. Strategic use of fiscal stability funds this fiscal year will protect customer rates from market volatility.
In terms of customer programs, CPA plans to invest approximately $14.7 million in fiscal year 2026-27 and $17.4 million in fiscal year 2027-28, an increase of $3 million over two years, to expand equitable access to clean energy and achieve cost savings. Specific programs include the Power Share program, providing a 20% electricity bill discount to over 10,000 low-income households, saving customers an average of $160 per year; the Solar and Battery Access program, helping eligible homeowners install systems with no upfront costs; and the Instant Air Conditioning Savings program, offering eligible customers a $300 coupon to purchase energy-efficient air conditioners.
The budget also covers $2.1 million over two years to support multi-family residential properties, including the Apartment Building Cooling Assistance program, collaboration with regional energy networks to increase incentives for cooling system upgrades, and the Multi-Family Electric Vehicle Charging program. $14.3 million over two years is allocated for the Vibrant Communities program and the Power Ready program, supporting decarbonization and backup power projects in partner communities. $9.9 million over two years funds the Solar Storage Rebate program, the Electric Vehicle Smart Charging program (expected to save customers an average of $100 per year), the Power Response program, and the Energy Team service, providing free energy efficiency and wildfire protection guidance to residential and small business customers. CPA also plans to expand new program offerings for commercial customers.
In workforce development, CPA plans to invest $2.4 million over two years to support training programs aimed at cultivating local talent in energy efficiency, clean transportation, and grid modernization. Funding comes from voluntary contributions from clean energy project developers. Partners include the Flintridge Center, WINTER (Women In Non-Traditional Employment Roles), and the Ventura County Workforce Development Board, supporting students in completing the pre-apprenticeship Multi-Craft Core Curriculum (MC3) to prepare for careers in the union construction trades. CPA is also collaborating with the USGBC California Chapter to provide wildfire protection certificate training for contractors affected by wildfires. The Voyager Scholarship will support students at 11 community colleges in Los Angeles and Ventura counties pursuing clean energy careers.
In organizational development, the two-year budget allocates $12.5 million for community engagement, education, and marketing; and $9.3 million for strategic technology investments to enhance organizational effectiveness. CPA CEO Ted Bardacke stated that the budget reflects a commitment to building a sustainable energy future, which requires strong partnerships and careful planning. The Clean Power Alliance website is www.cleanpoweralliance.org.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
