Board of Directors approves electric generation rate changes
Sunnyvale, Calif. – On April 10, 2019, the Silicon Valley Clean Energy (SVCE) Board of Directors approved updates to 2019 rates, to take effect on May 1. Due to increased supply costs in the energy market, PG&E increased generation rates by an average of approximately 3% on March 1 of this year. As of May 1, SVCE has implemented a similar average 3% increase, while continuing the 6% discount to PG&E’s generation rate that SVCE customers enjoyed in 2018.
The board voted to maintain this discount to PG&E while continuing their commitment to providing carbon-free electricity and funding local clean energy programs.
Sample residential cost comparison
The board also authorized a second rate adjustment in August 2019, to provide a discount to PG&E when PG&E rates are expected to be adjusted again in July. SVCE anticipates adjusting rates to maintain a one percent or greater discount, depending on PG&E’s new generation and power charge indifference adjustment (PCIA) rates, as approved by the California Public Utilities Commission.
This has been an unprecedented year for rate changes by PG&E. Historically, PG&E’s annual rate changes have occurred on January 1 each year, with occasional or minor updates through the year. This year there will be several major changes. While PG&E rates tend to increase year-over-year, they also fluctuate with the seasons. The SVCE Board of Directors has made a commitment to maintaining rates at a discount to PG&E and has kept this promise since SVCE began service in 2017.
“With our lower rates, SVCE has saved customers a collective $24 million over the past two years,” said Margaret Abe-Koga, SVCE Board Chair. “This is money that has stayed in our customers’ pockets, and in our community. Our board takes a fiscally responsible approach to setting our rates to ensure our financial stability and protect our customers from unexpected changes in the state’s regulatory environment. We are also able to continue investing in programs such as installing more electric vehicle charging infrastructure and cutting emissions from buildings.”
SVCE has been closely watching and discussing 2019 rates during public board and executive committee meetings since fall 2018. The best information available for tracking how PG&E’s rates will change is through following the utility’s rate making process through proceedings at the CPUC.
SVCE customers with questions about their bill are encouraged to visit the Understanding Your Bill webpage, or contact a customer service representative at firstname.lastname@example.org or by calling 1-888-474-7823.
About Silicon Valley Clean Energy
Silicon Valley Clean Energy is a community-owned agency serving the majority of Santa Clara County communities by acquiring clean, carbon-free electricity on behalf of residents and businesses. As a public agency, net revenues are returned to the community to keep rates competitive and promote clean energy programs. Member jurisdictions include Campbell, Cupertino, Gilroy, Los Altos, Los Altos Hills, Los Gatos, Milpitas, Monte Sereno, Morgan Hill, Mountain View, Saratoga, Sunnyvale and unincorporated Santa Clara County. SVCE is guided by a Board of Directors, which is comprised of a representative from the governing body of each member community. For more information, please visit SVCleanEnergy.org.
Director of Account Services and Community Relations
Silicon Valley Clean Energy
O: (408) 721-5301 x1002