2021 amended budget approved, includes more electric savings

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The Energy Trust Board of Directors unanimously approved Energy Trusts Amended 2021 Budget and 2021-2022 Action Plan during the May 19 board conference.
This new budget consists of greater expenditures and earnings to enable Energy Trust to attain more electric cost savings in 2021. Energy Trusts organizational objectives and action plans have not altered.
Throughout the meeting, Executive Director Michael Colgrove presented a summary of the changes in the 2021 modified spending plan, details on financing methods and a review of remarks gotten during the general public comment duration. The approved amended spending plan offers $121 million in money rewards to help energy customers invest in energy effectiveness and renewable energy. These investments will lead to $707 million in client cost savings on energy costs over time.
The changes to the budget were driven by market conditions and the success of Energy Trusts business and commercial bonus rewards in 2020. The changed budget is a result of the collaboration between Energy Trust, the Oregon Public Utility Commission, PGE and Pacific Power to identify additional funding strategies.
Energy Trusts 2021 Budget and 2021-2022 Action Plan outlines how it prepares to help customers make the most of a few of the least expensive expense and cleanest energy available– energy performance and renewable power. The spending plan details where Energy Trust will invest utility client funds to benefit renters, homeowners, services of all sizes, farms, ranches and schools throughout Oregon and Southwest Washington.
For more details on Energy Trusts Amended 2021 Annual Budget and 2021-2022 Action Plan, see www.energytrust.org/budget.