SUCCESSES ABOUND FOR MONTEREY BAY COMMUNITY POWER
SUCCESSES ABOUND FOR MONTEREY BAY COMMUNITY POWER
On the heels of a successful launch for residential service and just nine months into operation, Monterey Bay Community Power (MBCP) continues to make gains toward the agency’s primary goals; stable costs to provide savings, reducing emissions, and contributing to the economic vitality of the tri-county region.
MBCP is tri-county’s newest public agency, created by 16 cities and 3 counties in the Monterey Bay region. Following the Community Choice Aggregation (CCA) model which is growing quickly across California, MBCP procures carbon-free electricity on behalf of its constituents while PG&E continues to deliver electricity via its transmission and distribution system.
After just eight months of operation, MBCP is on track to save tri-county businesses and residents a combined $3MM in cost savings during 2018. Savings will be delivered as a 3% rebate on the MBCP Electric Generation charge, or approximately 1.5% of customer’s total electric costs. In 2018, rebates will be delivered as a credit on December bills.
In addition to lowering costs, MBCP’s carbon-free electricity service amounts to over 300,000 metric tons of CO2 emissions being spared from the atmosphere in 2018 – a monumental step toward meeting the Monterey Bay Region’s climate-action goals. Community benefits don’t stop there, either. MBCP is setting aside an additional $2.5MM from 2018 revenues to be reinvested in the communities it serves through energy programs focusing electric vehicles (EV) and EV charging stations for residents, businesses, schools and public agencies if they are MBCP customers. Moving forward, program funding is projected to nearly double each year. From a holistic standpoint, MBCP’s focus will be on transportation electrification, building electrification and distributed energy resources.
Most recently, MBCP collaborated with Silicon Valley Clean Energy to ink a deal for the largest solar-plus-storage project in California history. MBCP continues to demonstrate its commitment to financial stability as well as community re-investment. For more information, visit mbcommunitypower.org
