Orange County Power Authority Reports $1.6 Million Net Position at End of First Quarter of Commercial Service

Orange County Power Authority (OCPA) announced the success of its first full quarter of providing commercial service. For the year ended June 30, 2022, OCPA’s net position is over $1.6 million, with $21.5 million in available working capital. This is $2.3 million, or 333% higher, than projected in its mid-year budget.

Commercial customers are choosing to support Orange County’s efforts to reduce carbon emissions. The positive first quarter of commercial service is an indication of OCPA’s strong financial position and demonstrates the confidence earned by OCPA’s energy providers as we move Orange County toward a healthier, more sustainable future.

In April 2022, OCPA successfully launched service to 35,000 customer accounts and to date, more than 92% of those customers remain with OCPA. To ensure enough renewable energy is available to businesses and residential customers, and to protect against rate hikes, OCPA has already procured 100% of the power it needs for customers through the end of 2022 and substantially through 2023.

As an independent, locally governed not-for-profit entity, OCPA’s reserves can ultimately be used to help stabilize electricity prices, provide incentives for solar installations, support energy efficiency programs and develop more local renewable energy sources in and near Orange County.