Annual Financial Audit Affirms Community Clean Energy Provider’s Continued Fiscal Stability

Sixth consecutive clean audit underscores Orange County Power Authority’s continued financial progress, including increased reserves and a commitment to maintaining stable customer generation rates

IRVINE, Calif. (November 13, 2026) – Orange County Power Authority (OCPA) – a local, not-for-profit community clean energy provider – reports positive fiscal outcomes for the fiscal year ended June 30, 2026. The agency’s audited financial statements reflect a $16.6 million increase in net position, bringing total net position to approximately $61.6 million, while maintaining stable customer generation rates. These results demonstrate OCPA’s continued progress toward strengthening its financial position and long-term fiscal sustainability amid an increasingly complex and evolving energy landscape.

The independent audit was conducted by Sorren (formerly Pisenti & Brinker, LLP) in accordance with Generally Accepted Auditing Standards. Sorren issued an unmodified, or “clean,” audit opinion, with no significant deficiencies or material weaknesses in internal control identified during the audit. This marks OCPA’s sixth consecutive clean audit opinion since its first independent audit in 2021.

OCPA’s FY2025/26 financial results significantly exceeded budget expectations, primarily driven by lower-than-budgeted electricity procurement costs and higher-than-budgeted electricity sales. At the close of the fiscal year, the agency also maintained a strong liquidity position, with $48.6 million in positive working capital, reflecting its ability to balance customer affordability with prudent financial management while supporting long-term fiscal stability.

Further strengthening its financial position, OCPA completed its first energy prepayment transaction in March 2026 through the California Community Choice Financing Authority (CCCFA), which issued approximately $929 million in bonds that are not debt obligations of OCPA. The transaction is expected to generate $25.3 million in electricity procurement savings over the initial five-year period. Along with principal repayments on its City of Irvine loans and an expanded revolving credit facility following fiscal year-end, these initiatives further support OCPA’s long-term financial sustainability and customer affordability goals.

About Orange County Power Authority

The Orange County Power Authority is a not-for-profit public agency that offers clean power at stable rates, significantly reducing energy-related greenhouse emissions and enabling reinvestment in local energy programs. To learn more, visit www.ocpower.org.