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E20S Large 142 $70 $70 $73 $0.30 $3.42 4.64% Comm RES Residential 19,389 $111 $111 $115 $0.46 $4.11 3.55% RES Residential 5,660 $168 $169 $174 $0.63 $5.91 3.38% TOU CONCLUSION At the November 17, 2020 City Council meeting, the Council provided policy direction regarding the Climate Action Plan 2.0 GHG reduction target pathway. They selected a linear path that set a long-term target of carbon neutrality by 2045. The policy direction also included a 2030 target based on a linear trajectory of emission reductions from 2045 back to 2020 levels. One of the most impactful actions the City can take to meet GHG emissions reduction goals is to maintain community-wide accounts in a carbon- free electricity product. Setting the default electricity product for residential and commercial accounts to Renewable 100 will bring the City one step closer to achieving the GHG emissions reductions goals. The monthly price premium of Renewable 100 is approximately $5 for residents, $15 for small businesses, $160 for medium-sized businesses, and $2,500-$5,000 for large businesses. This can be a substantial financial burden, particularly in the aftermath of the pandemic. City staff acknowledge this and will partner with EBCE to analyze the effects of this policy on different customers (e.g., homeowners, renters and small and large businesses) in order to tailor outreach to customers who may be disproportionately impacted by higher energy cost. Staff will develop outreach strategies focused on helping residents and businesses opt-down to Bright Choice and educating customers on ways to shift electricity use and manage bills under the new Time-of-Use rates. This outreach will require close collaboration with community partners, such as Go Green Initiative, who created educational EBCE videos for City outreach earlier this year. The residential and commercial customer has the final choice to opt-up, opt-down or opt-out, no matter what service level the City Council selects as the baseline. It is also important to note that City Council may amend the default baseline service level for customers in the future. Submitted by: Fiscal Review: Approved by: di/ Zachary Reda Tina Olson Nelson Fialho Management Analyst Director of Finance City Manager Attachment: 1. Resolution 7