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WATER ENERGY LIFE rr� CITY OF RjVEIZSIDE lag PUBLIC UTILITIES RIVERSIDE PUBLIC UTILITIES Board Memorandum BOARD OF PUBLIC UTILITIES DATE: OCTOBER 23, 2023 SUBJECT: RIVERSIDE PUBLIC UTILITIES ELECTRIC 2024 ANNUAL RESOURCE ADEQUACY PLAN COMPLIANCE FILING WITH THE CALIFORNIA INDEPENDENT SYSTEM OPERATOR ISSUE: Consider approval of Riverside Public Utilities Electric 2024 Annual Resource Adequacy Plan compliance filing with the California Independent System Operator. RECOMMENDATIONS: That the Board of Public Utilities: 1. Approve the Riverside Public Utilities Electric 2024 Annual Resource Adequacy Plan compliance filing; and 2. Authorize filing the Riverside Utilities Electric 2024 Annual Resource Adequacy Plan with the California Independent System Operator in compliance with Section 40 of its tariff. BACKGROUND: Resource Adequacy (RA) describes an electric utility's procurement of sufficient power supply capacity to serve its customers' projected electricity requirements, plus an additional amount to be held in reserve for unanticipated circumstances (e.g., unplanned transmission or generation outages). Section 40 of the California Independent System Operator (CAISO) tariff governs the RA program requirements for load serving entities (such as Riverside) participating in CAISO markets. The CAISO tariff provides an option for local regulatory authorities of publicly owned utilities to adopt their own RA Program that meets certain criteria. On May 23, 2006, the City Council adopted Resolution 21170, establishing its own RA Program in response to the CAISO Tariff requirements. This action preserved Riverside's local control over its resource procurement. On June 5, 2012, the City Council adopted Resolution No. 22389, approving a revised RA Program, which reflected current grid operational conditions, deleted obsolete provisions, and ensured efficient implementation while enhancing reliability.