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Southern California Public Power Authority Nuclear Decommissioning Trust
The Southern California Public Power Authority is a joint powers authority consisting of eleven municipal utilities and one irrigation district.
Southern California Public Power Authority Nuclear Decommissioning Trust
The Southern California Public Power Authority is a joint powers authority consisting of eleven municipal utilities and one irrigation district. SCPPA members deliver electricity to approximately 2 million customers over an area of 7,000 square miles, with a total population of 4.8 million.
General information
Firm type
Trust / Investment Trust
Year founded
1980
Location
Region
North America
Country
United States
City
Glendora
Corporate office
Glendora, CA, United States
Principals
Daniel E. Garcia
Executive Director
Aileen Ma
Chief Financial and Administrative Officer
Sector focus
Frequently asked questions
What is the legal structure of the trust and who governs it?
The trust is a dedicated fund established by the Southern California Public Power Authority, a California joint powers authority formed in 1980. Governance falls to SCPPA's Board, which is composed of representatives from its member municipal utilities, including the Los Angeles Department of Water and Power. Investment and disbursement decisions must comply with Nuclear Regulatory Commission decommissioning funding assurance rules and the trust agreement's own strict guidelines.
Does the trust invest in equities, alternatives, or infrastructure?
No. The portfolio is confined almost entirely to investment-grade fixed-income securities and cash equivalents designed to match future liability cash flows. The trust's mandate prohibits taking on the market risk associated with equities, private funds, direct infrastructure, or co-investment structures.
How does SCPPA's renewable energy contracting relate to the decommissioning trust?
They are entirely separate activities. SCPPA's contracts for solar and battery storage projects—such as those with developer Arevon Energy—are power supply agreements executed on behalf of member utilities. The Nuclear Decommissioning Trust is a ring-fenced fund with a single purpose: accumulating and preserving capital for the future dismantling of Palo Verde.
Who operates the Palo Verde Nuclear Generating Station?
Arizona Public Service Company (APS) is the operating agent for Palo Verde. SCPPA's member utilities are non-operating co-owners of a percentage of the station's three units and are responsible for their proportional share of all costs, including eventual decommissioning.
What determines the target size of the trust's corpus?
Periodic actuarial site-specific decommissioning cost studies determine the total estimated liability in current dollars. SCPPA collects revenue from participating member utilities through rate charges, and the trust's balance must remain on track to fully fund the owners' share of decommissioning by the time the plant's operating license expires.
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