Orange County Power Authority Reports $3 Million Operation Loss

[claireokc]

The Orange County Power Authority—the county’s first community choice energy program—released a report at a May 3 board meeting that showed a $3 million operating loss over a nine-month period, as the agency’s financial feasibility has been questioned since its launch. The power authority was created in November 2020 to provide greener energy to residents and businesses throughout Orange County. In operation, the agency takes over Southern California Edison’s role as the buyer and seller of electricity, though Edison’s facilities will still be transporting the agency’s energy to homes and businesses. So far, four Orange County cities—Irvine, Huntington Beach, Fullerton, and Buena Park—have opted to join the power authority, with Irvine fronting the millions of dollars in startup costs. ...

Source: https://www.theepochtimes.com/orange-co ... 51606.html