East Bay Community Energy Prioritizes Customer Savings, Expands Renewable Energy Benefits in Latest Budget
With newly approved fiscal year 2022-23 budget, EBCE board approves greater discounts compared to the incumbent utility, increases local programs, and provides bill credits to low-income customers
Oakland, Calif. (July 27, 2022) -- East Bay Community Energy (EBCE), one of the nation’s top clean energy providers, today announced a historic $770 million budget for fiscal year 2022-23. EBCE will use the funds to expand financial and program benefits for its customers and reinvest $25.5 million into its communities in the form of new grants and local programs. Offering more savings compared to PG&E rates, greater incentives, and increased renewable energy deployments, EBCE continues to charge ahead on helping to keep communities resilient amid rising energy demand.
Energy consumers who adopt community choice aggregators (CCAs) like EBCE benefit from reinvestments into their local economies – which create local jobs and equitable programs – unlike traditional investor-owned utilities that distribute profits to shareholders and investors.
The EBCE Board of Directors’ budget approval will help bolster ratepayer savings, local programs, renewable procurement with short- and long-term investments, and more. Providing customers within its service areas more renewable energy at more competitive rates, EBCE is expanding its benefits, which go into effect in July (and appear on August bills):
Bright Choice customers receive a three percent discount below PG&E rates, translating to $19 million in annual savings relative to PG&E rates in the 2022-23 fiscal year.
Renewable 100 customers receive a 25-percent-lower premium than in previous years (premium rate declines from $0.01/kWh to ¾ ¢ per kilowatt-hour) for 100% wind and solar electricity from California.
Customers on income-qualifying California Alternate Rates for Energy (CARE) and Family Electric Rate Assistance Program (FERA) discounts receive a $50 bill credit in late 2022, resulting in $6.23 million in immediate savings for nearly 125,000 homes.
Renewable energy content in EBCE’s Bright Choice power mix will increase by five percent above previous targets, to 50% in 2022. To date, EBCE has cut the ribbon on five renewable energy projects, totaling 335 MW, with seven more projects totaling 677 MW contracted to be built by 2026.
Moreover, EBCE’s annual budget for local programs will increase approximately 150 percent to $21.35 million, and its funding for community innovation grants will increase to $4.2 million over three years.
One of the most active community-driven clean energy providers carving a new era of inclusive energy, EBCE is on a mission to provide 100 percent clean electricity for its customers by 2030, 15 years ahead of California’s target date.
“East Bay Community Energy is committed to bringing forward-looking solutions that stave off the imminent threat posed by legacy fossil-fuel-based power,” said Nick Chaset, CEO of East Bay Community Energy. “We are putting programs in place to save money for our customers, improve public health, our natural environment, and our country's energy and economic competitiveness to create a better future for our communities.”
About East Bay Community Energy (EBCE)
East Bay Community Energy (EBCE) is a not-for-profit public agency that operates a Community Choice Energy program for Alameda County and fourteen incorporated cities, serving more than 1.7 million residential and commercial customers. EBCE initiated service in June 2018 and expanded to Tracy in neighboring San Joaquin County in 2021. As one of 24 community choice aggregation (CCA) programs operating in California, EBCE is part of the movement to expedite the climate action goals of their communities and those of California. EBCE is committed to providing clean power at competitive rates while reinvesting in its local communities. For more information about East Bay Community Energy, visit ebce.org.