Orange County Power Authority Board Unanimously Approves 2022-2023 Fiscal Year Budget

With a full year of operating as a not-for-profit public agency and successful launch of commercial service, Orange County Power Authority (OCPA) presented a positive forecast and announced that its Board of Directors unanimously approved the Fiscal Year 2022-2023 balanced budget at its June 29 meeting, with expected revenues of $301.8 million and expenditures of $297 million, resulting in a net margin of $4.7 million.

The first full year of operations shows that OCPA is in a strong financial position. OCPA’s successful launch of commercial service in April is reflected by the 94.48% participation rate of eligible businesses using renewable energy to support Orange County’s efforts to reduce carbon emissions.

To ensure that OCPA balances immediate needs with long-term considerations and rate affordability, the budget is updated annually and amended at the mid-year cycle. OCPA’s fiscal year begins July 1 and ends June 30 each year.

About Orange County Power Authority

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