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I RESOLUTION NO. 2003-03 <br />2 A RESOLUTION OF THE BOARD OF PUBLIC UTILITIES OF THE CITY OF <br />RIVERSIDE, CALIFORNIA, (1) ADOPTING REVISED ELECTRIC RATE SCHEDULE <br />3 NEM --NET ENERGY METERING FOR SOLAR OR WIND TURBINE ELECTRIC <br />GENERATING FACILITIES EFFECTIVE DECEMBER 1, 2003, AND (2) ADOPTING <br />4 REVISED ELECTRIC RATE SCHEDULE ED --ECONOMIC DEVELOPMENT RATE <br />EFFECTIVE DECEMBER 1, 2003,(3) REVISING STANDARD FORM ECONOMIC <br />5 DEVELOPMENT RATE AGREEMENTS TO CONFORM TO SUCH REVISED <br />SCHEDULE ED FOR NEW SCHEDULE ED CUSTOMERS AFTER DECEMBER 1, <br />6 2003,(4) MAKING FINDINGS OF FACT, AND (5) RECOMMENDING CITY <br />COUNCIL APPROVAL THEREOF. <br />7 <br />8 WHEREAS the City of Riverside's ("City") Electric Rate Schedule NEM -Net Energy <br />9 Metering for Solar or Wind Turbine Electric Generating Facilities ("Schedule NEM") became <br />10 effective July 1, 2002 and was in compliance with state law; and <br />11 WHEREAS subsequently there have been further changes in state law extending the <br />12 requirements to permit certain classes of customers to interconnect their solar (photovoltaic or PV) <br />13 or wind turbine generators with an electric utility's electric system on a Net Energy Metering <br />14 basis; and <br />15 WHEREAS the City Department of Public Utilities ("Department") staff has developed <br />16 and submitted for action by the Board and the City Council of the City a revised Schedule NEM to <br />17 conform to the most recent changes in the law; and <br />18 WHEREAS the existing Electric Rate Schedule ED --Targeted Economic Development <br />19 Rates ("Schedule ED") provides that no new Economic Development Rate Agreements ("ED <br />20 Agreement") shall be entered into by the Department after December 31, 2003; and <br />21 WHEREAS RPU has entered into fourteen EDAgreements under Schedule ED through <br />22 September, 2003, bringing over 1,200 additional jobs, an investment of more than $170 million in <br />23 taxable property, $7,000,000 in annual increased electric revenues, and $630,000 in General Fund <br />24 transfer revenues into the City; and <br />25 WHEREAS Schedule ED provides for reduced electric rates for the first two years of the <br />26 four year ED Agreement and potential Schedule ED customers have requested that RPU provide a <br />27 rate guarantee for years 3 and 4 of the ED Agreement; and <br />City Attorney's Office <br />3900 Main Street <br />Riverside, CA 92522 <br />(909) 826-5567 <br />