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Resolution No. 2013-087A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF VERNON ADOPTING A NEW TRANSMISSION REVENUE REQUIREMENT FOR 2014 IN.ACCORDANCE WITH VERNON'S TRANSMISSION OWNER,TARIFF AND PROVIDING FOR TARIFF SHEET CHANGES TO IMPLEMENT THE ADJUSTMENT WHEREAS, the City of Vernon ("City") is a chartered municipal corporation of the State of California that owns and operates a.system for the generation, purchase, transmission; distribution and sale of electric capacity and energy, and WHEREAS, the City is a Participating Transmission Owner ("PTO") with the California Independent System Operator Corporation ("ISO:'),. and the Federal Energy Regulatory Commission ("FERC") has approved its existing Transmission Owner Tariff ("TO Tariff"); and WHEREAS, the ISO reimburses the City according to the City's current Transmission Revenue Requirement ("TRR") in return for the City turning over to the ISO the operation and control of the City's transmission entitlements; and WHEREAS, each PTO must include in its TO Tariff its Gross Load,' which the ISO uses to calculate its grid -wide Transmission Access Charge ("TAC") rates, and which is related to the City's ability to recover its full TRR; and WHEREAS, the City's transmission entitlements' include rights under certain contracts (each an "ETC") including (i) an agreement with the City of Los Angeles Department of Water and Power entitled "Los Angeles -Vernon Adelanto-Victorville-Lugo Firm Transmission Service Agreement" (the "LAWDP ETC"); (ii) an.agreement with Southern California Edison Company ("SCE"). entitled "Amended and Restated 100913940 Edison -Vernon Victorville-Lugo Firm Transmission Service Agreement" (the "SCE Victorville-Lugo ETC"); and (iii) an agreement with SCE entitled "Amended and Restated Edison -Vernon Mead Firm Transmission Services Agreement" (the "SCE Mead ETC"); and WHEREAS, the City's costs under the LADWP ETC, the SCE Victorville-Lugo ETC, and the SCE Mead ETC have traditionally been based upon a, negotiated fixed "path -specific" rate charged by LADWP or SCE, based on the actual costs of the specific transmission lines made' available under each ETC, multiplied by the amount of transmission capacity guaranteed to the City under each ETC; and WHEREAS, on August 1, 2008, SCE filed a petition with FERC seeking to amend the pricing structure under the SCE`Victorville-Lugo ETC and the SCE Mead ETC to replace the negotiated path -specific rates set forth in those ETCs with a "postage -stamp" rate which reflects the blended rate SCE charges to the ISO for the actual usage of all of SCE's transmission lines by customers of the ISO; and WHEREAS, the postage -stamp rate which SCE charges to the ISO is derived`.from SCE's TRR and, therefore, will change each time SCE amends its TRR; and WHEREAS, on September 30, 2008, FERC accepted, subject to refund and hearing and settlement procedures, SCE's proposedrevisions: under the SCE Victorville-Lugo ETC and the SCE Mead ETC to replace the negotiated path -specific rates set forth in those ETCs with a postage - stamp rate, and thus the City's costs under the SCE Victorville-Lugo ETC and the SCE Mead ETC will vary proportionately with any changes in SCE's TRR; and WHEREAS, the City reached a settlement agreement (the "SCE Settlement") with SCE to amend the SCE Victorville-Lugo ETC and the SCE 2 - 100913940 Mead ETC to replace the path -specific rates set forth in those ETCs with SCE's postage -stamp rate after a phase -in period that began on August 1, 2009, during which the City's path -specific rates in ,those ETCs are gradually stepped -up over three years (the "Phase -In Rates") until the path -specific rates are equal to SCE's postage -stamp rate as of January 1, 2013; and WHEREAS, under the SCE Settlement, the City's costs for the SCE Victorville-Lugo ETC and the SCE Mead ETC are equal to :(i) from August 1, 2009, until December 31, 2012, the Phase -In Rates, and beginning on January 1, 2013, the SCE postage -stamp rate, in each case multiplied by (ii) the amount of transmission capacity guaranteed to the City under each ETC; and WHEREAS, FERC approved the SCE Settlement pursuant to an order issued September 11, 2009, 128 FERC 1 61,237 (.2009), in FERC Docket Nos. ER08-1343-000, ER08-1353-000, ER09-187-000, ER09-187-001, EL09-19-000, and ER09-446-000 ("SCE Settlement Order"); and WHEREAS, on behalf of the City, the Brattle Group;.an experienced utilities consulting.firm;.developed a.tracking mechanism for the City's TRR ("TRR Tracking Mechanism") to allow the City's TRR to be adjusted annually, effective January 1 of each year, to reflect changes in the City's costs under the SCE Victorville-Lugo ETC and the SCE.Mead ETC that change as a result of (i) the stepped -up rates implemented between August 1, 2009 and "December `31, 2012; or (ii) any change in SCE's TRR on or after January 1, 2013; and WHEREAS, on the basis of The Brattle Group's analysis and evidence from City staff, which was considered during a public meeting of the City Council held on July 13, 2009, the City,.on July 15, 2009 ("July 15 FERC Filing"), filed with FERC proposed revisions to its TO - 3 - 100913940 Tariff proposing stated TRRs for each of the years 2010 to 2012, which dollar amounts were also included in the SCE Settlement ("TO Tariff Revisions"); and WHEREAS, the City also submitted..in'.the July 15 FERC Filing a request to utilize an "ETC Adjustment Clause" to adjust automatically each year the costs the City incurs attributable to any changes in SCE's TRR associated with SCE's High Voltage Existing Contracts Access Charge ("HVECAC") rate; and. WHEREAS, FERC approved .the City's request to utilize an ETC Adjustment Clause to reflect annual projected changes to SCE's TRR, in an order issued September 11, 2009, 128 FERC 91 61,235 (2009), in FERC Docket No. EL09-64-000 ("TO Tariff Order"); and WHEREAS, under the TO Tariff Order, the City's TO Tariff revisions went into effect on August 1, 2009; and WHEREAS, the City is required under the TO ,Tariff Order to submit annual filings with FERC reflecting modifications to the base TRR; and WHEREAS, a Notice of Public Hearing was published on September 26, 2013, notifying all interested parties that a hearing to consider evidence to establish the City's new TRR was scheduled for. October 15, 2013, at approximately 9 a.m., subject to the hearing being continued or adjourned to a.stated time and place without further notice of public hearing;. and WHEREAS, on October 15, 2013,.the City Council held a Public Hearing in which the City Council took evidence from City staff and those other persons in attendance who wished to be heard on the calculation of the City's new TRR under the City's amended TO Tariff; and - 4 - 100913940 WHEREAS, the TRR for 2014 is shown in the amended Appendix I to the TO Tariff, a copy of which is attached hereto as Exhibit A and made a part hereof; and WHEREAS, the Light & Power Department has prepared a TRR Report, dated October.3, 2013, with -exhibits., a copy of which is attached hereto as Exhibit B and made a part hereof, which reiterates its previous conclusions that the TRR and ETC Adjustment Clause mechanism developed by The Brattle Group and approved by FERC under the amended TO:Tariff are reasonable and which calculates the amount derived'under the ETC Adjustment Clause for •2014 and WHEREAS, the Light & Power Department has recommended.the City adopt the TRR shown in the amended Appendix I to the TO Tariff, attached as Exhibit A, to be effective on January 1, 2014; and WHEREAS, the City Council has heard and considered all evidence; written and oral, presented in consideration of the establishment of the City's new TRR under the amended TO Tariff. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VERNON AS FOLLOWS: SECTION 1: The City Council of the City of Vernon hereby finds and determines that the above recitals are true and correct. SECTION 2: The City Council of the City of Vernon finds that this action is exempt under the California Environmental Quality Act (CEQA), in accordance with Section 15061(b)(3), the general rule that CEQA only applies to projects that may have an effect on the environment because the administrative action of predicting future financial activity will not have an effect on the environment and is exempt from CEQA. SECTION 3: The. City Council of the City of Vernon hereby - 5 - 100913940 ,further finds and determines that all persons have had the opportunity to, be heard or to file written comments to the proposed adoption of the City's TRR, and after due consideration of any and all evidence submitted at the Public Hearing, determines there are compelling reasons -to justify the adoption of the City's TRR and Gross Load, to be effective January 1, 2014.. SECTION 4: The City Council of the City of Vernon hereby declares that: (a) any determination made pursuant to this Resolution regarding the validity or reasonableness of any portion of any TRR or TO Tariff shall apply only prospectively from the dateof this Resolution; and (b) in no way shall this Resolution affect the City Council's adoption or determination of any previous TRR or TO Tariff. SECTION 5: The City Council of the City .of Vernon hereby approves, pursuant to the TO Tariff and to be effective on January 1, 2014, the establishment of the City's new TRR and Appendix I to the TO Tariff implementing the new TRR (Resolution Exhibit A), as described in the Light & Power TRR Report dated on or about October 3, 2013 (Resolution.Exhibit B): SECTION 6: The City Council of the City of Vernon hereby authorizes outside counsel to submit the City's TRR, the amended Appendix I to the Vernon TO Tariff, and supporting documentation, such as the TRR Report, and this City Council Resolution approving the new TRR, to FERC on behalf. of the City.of Vernon. - 6 - 100913940 SECTION 7: The Interim City Clerk, or Deputy City Clerk, of the City of Vernon shall certify to the passage,. approval and adoption of this resolution, and the. Interim City Clerk, or Deputy City Clerk, of the City of Vernon shall cause this.resolution and the Interim City Clerk's, or Deputy City Clerk's, certification to be entered in the File of Resolutions of the Council of this City. APPROVED AND ADOPTED; this 15°h day of October, 2013. Name: W. Michael McCormick Title: Mayor AT TES I. V v Da Reed Interim City Clerk / Deputy eity ' APPROVED AS TO FORM: Lisa Dowden, Esq. Spiegel McDiarmid, LLP Special Counsel to City - 7 - 100913990 STATE OF CALIFORNIA ) ss COUNTY OF LOS ANGELES ) I, Dana Reed Interim City Clerk /- Hegaty-�itp-C��kf the City.of Vernon; do hereby certify that<the foregoing Resolution, being Resolution No. 2013-87, was duly passed, approved and.adopted by the City Council of the City of Vernon at a regular meeting of the City Council duly held on Tuesday, October 15, 2013, and thereafter was duly signed by .the Mayor or Mayor Pro-Tem of the City of Vernon. Executed this day of October,2013, at 'Vernon, California. I t�dna Reed Interim City Clerk EXHIBIT A EXHIBIT - A APPENDIX I Transmission Revenue Requirement and TRBAA The Vernon Base Transmission Revenue Requirement is 2$ 208,426 and is comprised of the - Deist following components: Base TRR costs not subject to ETC Adjustment Clause: $498,480 ETC Adjustment Clause: Forecast SCE ETC Costs: $J,682,760 oeiet Balance of Difference between prior year Forecast and Actual SCE ETC Costs: oeiet Interest on Difference between prior year Forecast and Actual SCE ETC Costs: 46 - Deist The ETC Adjustment Clause is: The projected SCE ETC Cost for the next calendar year, plus the true -up (positive or negative) of the prior October through September SCE ETC Cost with interest calculated pursuant to 18 C.F.R. § 35.19a. The ETC Adjustment Clause will be recalculated annually and filed with the Commission with a proposed effective date of January 1 of each year. The TRBAA is a osp itive $13,331 for calendar year. -. -- oeiet Form. Vernon's Gross Load, consistent with its TRR, used by the ISO to develop the Transmission ZDeletAccess Charge is 1,181,728 MWhs. All of Vernon's transmission facilities and Entitlements placed under the ISO's Operational Control are High Voltage Facilities as defined by the ISO Tariff. The TRBAA will be recalculated annually consistent with the ISO Tariff approved by the Vernon City Council, and provided to the ISO. APPENDIX I Transmission Revenue Requirement and TRBAA The Vernon Base Transmission Revenue Requirement is $2,208,426 and is comprised of the following components: Base TRR costs not subject to ETC Adjustment Clause: $498,480 ETC Adjustment Clause: Forecast SCE ETC Costs: $1,682,760 Balance of Difference between prior year Forecast and Actual SCE ETC Costs: $26,640 Interest on Difference between prior year Forecast and Actual SCE ETC Costs: $546 The ETC Adjustment Clause is: The projected SCE ETC Cost for the next calendar year, plus the true -up (positive or negative) of the prior October through September SCE ETC Cost with interest calculated pursuant to 18 C.F.R. § 35.19a. The ETC Adjustment Clause will be recalculated annually and filed with the Commission with a proposed effective date of January 1 of each year. The TRBAA is a positive $13,331 for calendar year 2014. Vernon's Gross Load, consistent with its TRR, used by the ISO to develop the Transmission Access Charge is 1,181,728 MWhs. All of Vernon's transmission facilities and Entitlements placed under the ISO's Operational Control are High Voltage Facilities as defined by the ISO Tariff. The TRBAA will be recalculated annually consistent with the ISO Tariff approved by the Vernon City Council, and provided to the ISO. EXHIBIT B EXHIBIT - B CITY OF VERNON LIGHT AND POWER DEPARTMENT REPORT REGARDING THE ESTABLISHMENT OF A NEW TRANSMISSION REVENUE REQUIREMENT ASSOCIATED WITH VERNON'S HIGH VOLTAGE ENTITLEMENTS ("TRR REPORT") October 3, 2013 The City of Vernon ("Vernon" or "City") is a Scheduling Coordinator and a Participating Transmission Owner ("PTO") in the California Independent System Operator Corporation ("ISO"). To participate in the ISO, PTOs are required to turn over administrative control of their transmission facilities and entitlements to the ISO. In return, the ISO collects revenues for each PTO pursuant to calculations that reflect the expenses and capital costs incurred by each PTO to provide transmission services. These calculations are known as Transmission Revenue Requirements ("TRRs"). The relationship between PTOs and the ISO is governed by a Transmission Control Agreement ("TCA"), which sets forth specific duties and obligations of all PTOs. The TCA requires all PTOs to file a Transmission Owner Tariff ("TO Tariff') and TRR with the Federal Energy Regulatory. Commission ("FERC"). The TCA further requires all PTOs to file any changes in their TRRs with FERC. Each PTO must also include in its TO Tariff its Gross Load which the ISO uses to calculate its grid -wide Transmission Access Charge ("TAC") rates, and which is related to the City's ability to recover its full TRR. TRANSMISSION REVENUE REQUIREMENT At present, the City's high voltage transmission assets consist of three long-term contracts (known as "existing transmission contracts" or "ETCs") which provide the City with dedicated access to high voltage transmission facilities owned by other entities. Specifically, the City has contractual entitlements to utilize transmission assets pursuant to one long-term transmission contract with the Los Angeles Department of Water and Power ("LADWP") and two long-term transmission contracts with Southern California Edison ("SCE"). The ETCs with SCE consist of one (the "SCE Victorville-Lugo ETC" described in SCE's FERC Rate Schedule 360) TRR Report 2014 Page 2 of 6 providing 11 MW of transmission capacity along the path between the Victorville- Lugo midpoint and the point of interconnection with the City's internal transmission system (the "City Gate"), and one (the "SCE Mead ETC" described in SCE's FERC Rate Schedule 207) providing 26 MW of transmission capacity along the path between the Mead 230 substation and the City Gate. The costs of these ETCs make up the majority of the costs recovered through the City's TRR. Until recently, for each of the ETCs, the City paid the owner of the transmission facilities a fixed rate which was specific to the transmission path provided under each ETC. On August 1, 2008, SCE proposed to increase its TRR and associated rates in FERC Docket No. ER08-1343-000. In a related filing submitted in FERC Docket No. ER08-1353-000, SCE proposed to transition both of its ETCs with Vernon from their current, fixed "path -specific' rates to a so-called "postage stamp" rate methodology which reflects the blended rate which SCE charges the ISO pursuant to its own TRRs for the actual usage of all of SCE's transmission facilities by customers of the ISO (the "HVECAC Rate"). The HVECAC Rate that SCE proposed in its TO Tariff is derived from SCE's TRR and, therefore, will change each time SCE amends its TRR. On September 30, 2008, FERC accepted, subject to refund and hearing and settlement procedures, SCE's proposed revisions to its TO Tariff to transition the negotiated path -specific rates set forth in the SCE VictorviIle- Lugo ETC and the SCE Mead ETC to the uniform HVECAC Rate, and thus the City's costs under those ETCs will vary proportionately with any changes in SCE's TRR. The City reached a settlement agreement (the "SCE Settlement") with SCE to amend the SCE Victorville-Lugo ETC and the SCE Mead ETC to fully transition the path -specific rates set forth in those ETCs to SCE's HVECAC Rate after a phase -in period that began on August 1, 2009, during which the City's path -specific rates in those ETCs have been gradually stepped -up under incrementally increasing fixed TRR Report 2014 Page 3 of 6 rates (the "Phase -In Rates") until the path -specific rates are equal to the HVECAC Rate as of January 1, 2013. FERC approved the SCE Settlement pursuant to an order issued September 11, 2009, 128 FERC 161, 237 (2009), in FERC Docket Nos. ER08-1343-000, ER08-1353-000, ER09-187-000, ER09-187-001, EL09-19- 000, and ER09-446-000 ("SCE Settlement Order"). On behalf of the City, The Brattle Group, an experienced utilities consulting firm, developed a TRR tracking mechanism clause for the City's TRR ("ETC Adjustment Clause"), which allows the City's TRR to be adjusted annually, effective January 1 of each year, to reflect changes in the City's transmission expenses associated with any changes implemented by SCE in the HVECAC Rate associated with the SCE Victorville-Lugo ETC and the SCE Mead ETC. On the basis of The Brattle Group's analysis and evidence from City staff, which was considered during a public meeting of the City Council held on July 13, 2009, the City, on July 15, 2009 ("July 15 FERC Filing"), filed with FERC the proposed (i) revisions to its TO Tariff proposing the City's stated TRRs for each of the years 2010 to 2012, which dollar amounts were also included in the SCE Settlement ("TO Tariff Revisions") and (ii) the ETC Adjustment Clause tracking mechanism. The July 15 FERC Filing acknowledged that, to the extent that the SCE Settlement was accepted, because the stated Phase -In Rates would be fixed, the ETC Adjustment Clause for the term of the Phase -In Rates would be zero FERC approved the City's July 15 FERC Filing, including the TO Tariff Revisions, the City's proposed calculations of the TRR for years 2010 to 2012, and the City's request to utilize an ETC Adjustment Clause, in an order issued September 11, 2009, 128 FERC ¶ 61,235 (2009), in FERC Docket No. EL09-64-000 ("TO Tariff Order"). The City is required under the TO Tariff Order to submit annual filings each year with FERC reflecting annual modifications to the base TRR of the City. TRR Report 2014 Page 4 of 6 CALCULATION OF THE ETC ADJUSTMENT CLAUSE Section 5.3 of the Vernon TO Tariff identifies the items to be reflected in the ETC Adjustment. The ETC Adjustment Clause shall be calculated as: ETC Adjustment = ETCCF+ ETCCT+ I. ETCCF = The forecast of SCE ETC Cost for the following calendar year ETCCT = The balance representing the prior period difference between the projected cost of the SCE ETCs ("SCE ETC Cost") and the actual cost. I = The interest balance for the ETC, which shall be calculated using the interest rate pursuant to Section 35.19(a) of FERC's regulations under the Federal Power Act (18 C.F.R. 35.19(a)). Interest shall be calculated based on the average ETC true -up balance each month, compounded quarterly. A summary of the elements of the Vernon ETC Adjustment Clause proposed to be effective January 1, 2014 is shown in Exhibit 1. The ETC Adjustment Clause to be effective for the twelve months starting January 1, 2014 is $1,709,946. The ETCCF Component The ETCCF component stands for the forecast of SCE ETC costs or the following calendar year, in this case 2014. These forecast SCE ETC costs reflect 2014 rates from Southern California Edison Company FERC Filing, Docket No. ER11-3697- 006. The ETCCF for 2014 SCE ETC costs are projected to be $1,682,760 as shown in line 7 of Exhibit 1. The ETCCT Component ETCCT represents a balance that reflects the difference between prior year forecast and actual SCE ETC costs The prior period in this case is the twelve-month period starting October 1, 2012 and ending September 30, 2013. TRR Report 2014 Page 5 of 6 A summary of the determination of the September 30, 2013 balance in the ETC Adjustment Clause is shown in Exhibit 1. The ETCCT component reflects 1) the previously projected 2012 SCE ETC costs of $848,000 or $70,670 per month, for the months October through December 2012 and projected 2013 SCE ETC costs of $1,895,880 or $157,990 per month, for the months January through September 2013, and 2) actual 2012 SCE ETC costs of $ $70,670 per month, for the months October through December 2012 and $160,950 per month, for the months January through September 2013—both elements as reflected on Line No. 7 and 14 of Exhibit 1. The difference between these two elements produce the under (over) collection figures reflected in Line 15 of Exhibit 1. The cumulative monthly balances are carried forward from month to month and the ETCCT component on September 30, 2013 of positive $26,640 is shown in line 16 of Exhibit 1. The I (Interest) Component The Interest component reflects interest on the difference between prior year forecast and actual SCE ETC costs. The monthly interest carrying costs are calculated using the 18 C.F.R. § 35.19(a) interest rates and calculation method. These interest rates are published by FERC and reflect the prime rate values published in the Federal Reserve Bank's "Selected Interest Rates." Interest is calculated monthly on the average cumulative monthly balance and is compounded quarterly. The interest component is $546, as shown in Lines 18-21 of Exhibit 1. TRR Report 2014 Page 6 of 6 RECOMMENDATIONS 1. Approve the establishment of the City's new TRR for 2014 and revised Appendix I to the TO Tariff. 2. Authorize outside counsel to submit the City's TRR, ETC Adjustment Clause, the revised Appendix I to the TO Tariff, and this City Council Resolution approving the TRR and ETC Adjustment Clause to FERC on behalf of the City of Vernon. EXHIBIT - 1 - § , ! « | 2 §R §§ )!! )§\ ))( §§ \§\ |]i \j \f {\\§\\ �!!!! § \ ! E § f . .) § / \ § § | � ) ! ! ! ; � _ } ! £ t ) ,!! | )/!9 | !�` 2}|t!, ! E #!<!!!] { 16 / , |§} ))| / } )|| (2| CITY CLERK'S OFFICE INTEROFFICE MEMORANDUM DATE: October 22, 2013 TO: Carlos Fandino, Director of Light & Power FROM: Deborah Juarez, Records Management Assistant RE: Resolution No. 2013-87 — A Resolution of the City Council of the City of Vernon Adopting a New Transmission Revenue Requirement for 2014 in Accordance With Vernon's Transmission Owner Tariff and Providing for Tariff Sheet Changes to Implement the Adjustment Transmitted herewith is a certified copy of Resolution No. 2013-87 referenced above, for your transmittal, which was approved by City Council on October 15, 2013. Please ensure that a copy of the transmittal communication is sent to my attention for the file. Thank you. Enclosure c: Abraham Alemu Resolution No. 2013-87 CERTIFICATE STATE OF CALIFORNIA ) ) ss COUNTY OF LOS ANGELES) I, Dana Reed, Interim City Clerk of the City of Vernon, County of Los Angeles, State of California, hereby certify that the attached is a full and complete copy of: RESOLUTION NO. 2013-87 - A Resolution of the City Council of the City of Vernon Adopting a New Transmission Revenue Requirement for 2014 in Accordance With Vernon's Transmission Owner Tariff and Providing for Tariff Sheet Changes to Implement the Adjustment IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official Seal of the City of Vernon, County of Los Angeles, State of California, on this i6 day of October 2013. SEAL: Dan Reed Interim City Clerk RECEIVED OCT 0 9 2013 CITY CLERK'S OFFICE STAFF REPORT LIGHT & POWER DEPARTMENT /,?i oi3— P7 RECEIVED OCT 0 9 2013 CITY ADMINISTRATION DATE: October 15, 2013 TO: Honorable Mayor and City Council FROM: Carlos Fandino, Director of Light & Power Vv RE: Establishment of New Transmission Revenue Requirement (TRR) Associated with Vernon's High Voltage Entitlements ("TRR Report") Recommendation It is recommended that the City Council conduct a Public Hearing and: Find that the approvals referenced in the resolution are exempt under the California Environmental Quality Act (CEQA) in accordance with Section 15061(b)(3), the general rule that CEQA only applies to projects that may have an effect on the environment; and 2. Approve the attached Resolution to thereby: a. Approve pursuant to the Transmission Owner Tariff, and to be effective on January 1, 2014, the establishment of the City's new Transmission Revenue Requirement (TRR) and Appendix I to the TO Tariff implementing the new TRR, as described in the Light & Power Staff TRR Report dated on or about October 3, 2013; and b. Authorize outside counsel to submit the City's TRR, the amended Appendix I to the Vernon TO Tariff, and supporting documentation such as the TRR Report, to the Federal Energy Regulatory Commission (FERC) on behalf of the City of Vernon. Backaround The City of Vernon ("Vernon" or "City") is a Scheduling Coordinator and a Participating Transmission Owner ("PTO") in the California Independent System Operator Corporation ("ISO"). To participate in the ISO, PTOs are required to turn over administrative control of their transmission facilities and entitlements to the ISO. In return, the ISO collects revenues for each PTO pursuant to calculations that reflect the expenses and capital costs incurred by each PTO to provide transmission services. These calculations are known as Transmission Revenue Requirements ("TRRs"). The relationship between PTOs and the ISO is governed by a Transmission Control Agreement ("TCA"), which sets forth specific duties and obligations of all PTOs. The TCA requires all PTOs to file a Transmission Owner Tariff ("TO Tariff) and TRR with the Federal Energy Regulatory Commission ("FERC"). The TCA further requires all PTOs to file any changes in their TRRs with FERC. Each PTO must also include in its TO Tariff its Gross Load which the ISO uses to calculate its grid -wide Transmission Access Charge ("TAC") rates, and which is related to the City's ability to recover its full TRR. TRANSMISSION REVENUE REQUIREMENT At present, the City's high voltage transmission assets consist of three long-term contracts (known as "existing transmission contracts" or "ETCs") which provide the City with dedicated access to high voltage transmission facilities owned by other entities. Specifically, the City has contractual entitlements to utilize transmission assets pursuant to one long-term transmission contract with the Los Angeles Department of Water and Power ("LADWP") and two long-term transmission contracts with Southern California Edison ("SCE"). The ETCs with SCE consist of one (the "SCE Victorville-Lugo ETC" described in SCE's FERC Rate Schedule 360) providing 1 I MW of transmission capacity along the path between the Victorville-Lugo midpoint and the point of interconnection with the City's internal transmission system (the "City Gate"), and one (the "SCE Mead ETC" described in SCE's FERC Rate Schedule 207) providing 26 MW of transmission capacity along the path between the Mead 230 substation and the City Gate. The costs of these ETCs make up the majority of the costs recovered through the City's TRR. Until recently, for each of the ETCs, the City paid the owner of the transmission facilities a fixed rate which was specific to the transmission path provided under each ETC. The attached TRR Report supports the establishment of a new transmission revenue requirement associated with Vernon's high voltage entitlements. Fiscal Impact The cost of Existing Transmission Service Contracts (ETC) incurred by the City will be recovered. Attachments NOTICE OF THREE SEPARATE PUBLIC HEARINGS The City of Vernon will conduct three Public Hearings which you may attend. PLACE: Vernon City Hall City Council Chambers 4305 Santa Fe Avenue Vernon, CA 90058 DATE AND TIME: Tuesday, October 15, 2013, at 9:00 a.m., or as soon thereafter as the matters may be heard PURPOSES: (1) To consider evidence to establish Vernon's new Transmission Revenue Balancing Account Adjustment for its high voltage (over 200 kV) transmission entitlements (all located outside the City) pursuant to Vernon's Transmission Owner Tariff, (2) To consider evidence to establish Vernon's new Existing Transmission Contract Adjustment for its high voltage (over 200 kV) transmission entitlements (all located outside the City) pursuant to Vernon's Transmission Owner Tariff, and (3) To consider evidence on whether to establish a policy to limit the costs the city may incur in procuring renewable energy pursuant to the "City of Vernon Renewable Resources Procurement Plan and Enforcement Program (SBX1 2 Compliance Plan)". Any interested person may attend and may make an oral presentation to the City Council at the time of each of the hearings, or may present written comments prior to each hearing. If you challenge the approval of the establishment of Vernon's new Transmission Revenue Balancing Account Adjustment, Vernon's new Existing Transmission Contract Adjustment, or the cost limitation policy, or any provision thereof in court, you may be limited to raising only those issues you or someone else raised at the respective hearing(s) described in this notice or in written correspondence delivered to the City of Vernon at, or prior to, the meeting. Information may be obtained by contacting the office of the City Clerk at the above address. The hearing(s) may be continued or adjourned to a stated time and place without further notice of a public hearing. Dated: September 23, 2013 Carlos Fandino, Directo Light & Power