Item 4- GreenChoice Presentation — original pdf

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GreenChoice Repurposing Proposal Resource Management Commission Paul Robbins March 19, 2024 • Started in 2001 to Allow Customers to Virtually Buy 100% Green Power • Currently 0.75¢/kwh More/ About 6% Increase in Total Bill • 984 Million Kwh Sold in 2022 / 7% of Total Austin Energy Consumption • About $7.4 Million in 2022 Additional Revenue • About 28,000 – 5% – of 2022 Customer Base In Austin, Renewable Energy has Increased from Almost Nothing in 2000 to Half Of Electric Supply in 2023 And It is Projected to Hit About 80% by 2035. Why Should We Ask Customers to Pay More for What the Utility Is Doing Anyway? But All the Renewable Energy in the World Will Not Allow It To Be ”Dispatchable” – To be Used When It Is Needed Denmark is world leader in use of intermittent renewable energy. Only 31% of its electricity is dispatchable. How do they do it? Leveraging Funds • 20% from Austin Energy • 20% from Storage Company Balance from: • Grants (Federal, State, Non-profit) • Other Utility/Government Partners • Private Investors Arbitrage Example: 1.5¢ Overnight Power 50¢ Peak Demand 5 PM Perhaps New GreenChoice Program Can Deliver A “Dividend” to Subscribers Austin Energy Defends Current Program 1. Allows customers to purchase 100% wind 2. Customer Satisfaction Survey showe participants were happy with the program 3. Program is not making money at this time because of flawed structure Answers 1. There is no country in the world running on anything close to 100% intermittent wind or solar energy. 2. No survey has been conducted asking GreenChoice participants if they want dispatchable renewable energy. 3. GreenChoice revenue shortfall is being corrected and phased in.