The City Council voted to set San José Clean Energy (SJCE) electricity generation rates at 1% below current PG&E electricy generation rates beginning in September 2018. It also approved launching service with 40% renewable power from wind, solar, geothermal and small hydroelectric facilities. The remaining 60% of power will be GHG-free from sources like hydroelectric power plants.
“Setting rates 1% lower than PG&E’s current rates will allow us to be very competitive and still cover all our expenses,” says SJCE Director Lori Mitchell. “We will be able to build up a reserve fund and pay down debt in our first two years of operation.”
Approving the rates and initial energy supply contracts ensured that SJCE will be able to launch the program and provide the electric generation services to City accounts on a rolling basis beginning as early as September 1, 2018. Citywide service to all homes and business will begin in March 2019.
You can read the full staff memo.