Board of Directors votes to maintain competitive pricing for cleaner power
Sunnyvale, Calif. – Silicon Valley Clean Energy (SVCE) will have new generation rates effective August 1, 2019. SVCE customers will continue to receive energy that is clean and carbon-free, at a cost lower than comparable PG&E generation rates. As of August 1, customers will save 4% monthly on the generation portion of their energy bill, or an average of approximately $25 per year for residential customers.
This second 2019 SVCE rate adjustment is in response to an unusual series of rate changes from PG&E. This year, PG&E’s PCIA fee (Power Charge Indifference Adjustment) charged to Community Choice Energy customers was not updated until July 1. When the PCIA fee changes, SVCE updates rates so that overall generation rates remain lower than PG&E, and the discount is consistent across residential and commercial customer classes. This year, PG&E transmission and distribution rates have risen for all customers, as approved by state regulators. Generation rates have also risen, due to higher energy costs.
“The Silicon Valley Clean Energy Board of Directors take the fiscal responsibility and health of the agency seriously,” said Margaret Abe-Koga, SVCE Board Chair. “We are maintaining our commitment to offer customers cleaner power at rates competitive with PG&E, while also continuing to build financial reserves that protect our customers from unpredictable changes in the energy market.”
The SVCE rate-setting process was discussed during public meetings throughout 2019. The board voted on the new August 1 rates at their June 12 board meeting. Board meeting information is posted on the SVCE website.
The SVCE generation discount is inclusive of PG&E’s added fees, so that in total, customers save money while receiving carbon-free energy and supporting the agency’s climate change-fighting initiatives. All residential and commercial rates are available online and customers can learn more about how to understand the charges on their bill at www.svcleanenergy.org/your-bill/.
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 low 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.