### Transcrip+on by: J. Phelps Date of Transcrip+on: August 2 1 , 2026 Orange County Power Authority h"ps://www.youtube.com/watch?v=QDqv4y_LbS4 elapsed (me 1:28:29 of 2:53:50 Glenn Grandis , Fountain Valley city council m e mber Um, one, one thing just to answer on that in liability . So, if they buy energy contracts (if OCPA executes energy contracts on behalf of Fountain Valley) – let’s say the worst thing happens: they buy energy contracts and we decide that we’re going to leave... then they sell those energy contracts. It’s not something like we’re 100% responsible for 100% of the energy product that’s purchased ( each OCPA member is responsible for 100% of their own debt ) The City of Hun[ngton Beach, when they le], there was poten[al liability on their part. But what they did was they did it over a 6 - month period so that all those contracts were sold. All those contract s were sold for more money than it cost actually. So, they paid nothing when they le]. So, the liability to our city is not great... [ 1:29:39 ] But again, the liability would only be for if those contracts were sold for less than .... [ 1:29:42 ] Note: L ess than what? A nswer: the liability would only be for if those contracts were sold for less than face value Here’s how it works -- Assuming Fountain Valley needed t o leave OCPA , it s role would be that of a trader : If its energy contracts are priced higher than the electricity market’s prices , Fountain Valley would discount its contracts so they are re - sold at current market prices T hen Fountain Valley would owe th at discounted price difference to OCPA , which executed the contracts o n the city ’ s behalf . This w ould result in a loss for Fountain Valley , perhaps many millions of dollars If Fountain Va lley ’ s contract s are price d at, o r below , the electricity market ’ s prices, the city could realize a profit. elapsed (me 1:29:4 3 Kim Constan[ne , Fountain Valley council member Well, I just want to be sure that the city has the upper hand here. I mean to me, cancel the (OCPA) contract, start over again. That’s just a thought. Thank you. elapsed (me 1:29 : 54 Jim Cunne e n , Foutain Valley Mayor Okay , so let’s move into Public Comments on scheduled ma"ers. Do we have any requests to speak? (No requests) Alright, next is Consent calendar. Consent calendar items 1 through 9 will be approved simultaneously with one mo[on unless separate ac[on and/or discussion is requested.