HomeMy WebLinkAbout2016-12-06 Finance Committee Action Minutes FINANCE COMMITTEE
ACTION MINUTES
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Finance Committee Action Minutes
November 15, 2016
Special Meeting
Tuesday, December 6, 2016
Chairperson Filseth called the meeting to order at 6:07 P.M. in the
Community Meeting Room, 250 Hamilton Avenue, Palo Alto, California.
Present: Filseth (Chair), Holman, Schmid, Wolbach arrived at 6:11 P.M.
Absent:
Oral Communications
None.
Action Items
1. Fiscal Year 2018 General Fund Financial Status and Budget
Development Guidelines.
NO ACTION TAKEN
2. Recommendation to the Finance Committee to Recommend That the
City Council Adopt a Resolution to Continue the Palo Alto Clean Local
Energy Accessible Now (CLEAN) Program, Including: (1) for Local Non-
Solar Resources, Utilities Advisory Commission (UAC) and Staff
Supported Updates to a Price of 8.4 ¢/kWh to 8.5 ¢/kWh With no
Capacity Limit; and (2) for Local Solar Resources, Either a 16.5 ¢/kWh
Price That Drops to Avoided Cost at 3 MW Recommended by the UAC,
or a Tiered Pricing Structure That Declines From 16.5c/kWh to Avoided
Cost Over 6 MW Recommended by Staff; and Approval of Associated
Program Rules and Agreements.
MOTION: Chair Filseth moved, seconded by Council Member Holman to
recommend the City Council adopt a Resolution to:
1. Continue the Palo Alto CLEAN program price for local solar energy
resources at the current price of 16.5 cents per kilowatt-hour (¢/kWh)
for a 20-year or 25-year contract term up to the current 3 MW
program capacity limit, and for any capacity over 3 MW, reduce the
ACTION MINUTES
Page 2 of 2
Finance Committee Action Minutes
December 6, 2016
price to the avoided cost of such energy (currently 8.9 ¢/kWh for a 20-
year contract term, or 9.1 ¢/kWh for a 25-year contract term), and
remove the program limit of 3 MW for local solar resources; and
2. Raise the Palo Alto CLEAN program price for local non-solar eligible
renewable energy resources to the updated avoided cost of such
energy (8.4 ¢/kWh for a 20-year contract term, or 8.5 ¢/kWh for a 25-
year contract term), from the prior price (8.1 ¢/kWh for a 20-year
contract term, or 8.2 ¢/kWh for a 25-year contract term), and to
remove the program limit of 3 MW for local non-solar eligible
renewable resources
MOTION PASSED: 4-0
Future Meetings and Agendas
Lalo Perez, Chief Financial Officer, said this is the last Finance Committee
meeting of the year. He thanked the members of the Committee, as well as
Staff, for all of their hard work.
Adjournment: The meeting was adjourned at 8:35 P.M.