The power hungry Silicon Valley could be helping Manteca, Lathrop, and Ripon electrical users lower rates.
The Santa Clara based Silicon Valley Power Company has inked a 10-year deal to buy hydro power from the Tri-Dam Project that is owned 50-50 by the San Joaquin Irrigation District and Oakdale Irrigation District.
That contract is for a higher amount per kilowatt hour than the current deal with an energy firm that expires on Dec. 31. That's because the Tri-Dam Power is renewable allowing big corporate power users in the Silicon Valley to take advantage of the carbon credit market to offset penalties placed on them by using electricity generated using fossil fuels.
The deal means SSJID will be getting even bigger receipts from Tri-Dam to help deliver power to Manteca, Ripon, and Escalon users at 15 percent below PG&E levels if they are successful at gaining the OK to enter the retail electricity market.
The SSJID would secure a long-term power contract to supply customers that is at a significantly lower rate than the renewable energy that they are selling to the Bay Area utility thanks to the state-mandated carbon credits program.
For more details see Friday's Manteca Bulletin.