February 22, 2002—California’s Consumer Power and Conservation Financing Authority (CPA), which is charged with the responsibility to “ensure sufficient surplus of electricity so that Californians never again face electricity shortages or outrageous prices,” recently released its energy resource investment plan. The plan says that there are a number of unmet needs in California’s energy situation, including uncertain and inadequate reserves, lack of fuel diversity, lack of consumer choice, and diminishing voluntary conservation.
CPA proposes that the state implement a “cost-effective energy resource investment strategy” based on “an aggressive investment in energy efficiency and renewable energy resources.” The power authority says it could provide 3,500 megawatts of reserve electrical capacity by 2006 through investments in energy efficiency, electrical load management, clean forms of distributed generation, and renewable energy. By issuing bonds for up to $5 billion, the authority plans to finance a variety of projects, including 1,275 megawatts of new generating capacity powered by renewable energy.
The 80-page plan, which is before the California legislature, is available in PDF format through the CPA Web site.
