Under existing law, a public agency may enter into specified energy conservation contracts, including into contracts for the sale of electricity, electrical generating capacity, or thermal energy produced by the energy conservation facility at such rates and on such terms as are approved by its governing body.
Existing law also:
- Authorizes a public agency to enter into an energy service contract and related facility ground lease if the governing body finds, among other things, that the anticipated cost to the public agency for thermal or electrical energy or conservation services provided by the energy conservation facility under the contract will be less than the anticipated marginal cost to the agency of thermal, electrical, or other energy that would have been consumed by the public agency in the absence of those purchases.
- Authorizes a public agency to enter into a facility financing contract and a facility ground lease upon meeting certain requirements and finding that funds for the repayment of the financing or other specified contract costs are projected to be available from revenues resulting from sales of electricity or thermal energy from the facility or other sources.
- Authorizes a public agency to enter into contracts for the sale of electricity, electrical generating capacity, or thermal energy produced by the energy conservation facility at such rates and terms as are approved by its governing body.
This bill would authorize the Tri-Valley-San Joaquin Valley Regional Rail Authority, in addition to its authority to enter into contracts described above, to enter into energy service contracts, facility financing contracts, and contracts for the sale of specified energy resources relating to green electrolytic hydrogen, as defined, for use by the authority for purposes of financing the construction and operation of passenger rail service through the Altamont Pass Corridor.
This bill would also make legislative findings and declarations as to the necessity of a special statute for the Tri-Valley-San Joaquin Valley Regional Rail Authority.