8. Recommended by Customer Service, Communications, and Corporate Strategy Approval of Energy Efficiency Savings (Fiscal Year 2023-2024) for Energy Cost Adjustment Calculation (Revenue Losses). The Board letter outlines the energy volumes achieved through the prior energy efficiency programs, which will be used in future capped Energy Cost Adjustment Factor calculations. The cumulative energy efficiency savings directly resulting from LADWP’s energy efficiency programs during FY 2006-2007 through FY 2023-2024 totals 1,962,043,547 kWh. The annualized energy savings for the FY beginning July 1, 2023, and ending June 30, 2024, equates to 88,030,645 kWh. The calculated revenue loss for Energy Cost Adjustment equates to $108,167,461, which is 1,962,043,547 kWh saved multiplied by $0.05513 per kWh from Electric Rate Ordinance No.168436, as amended. Determine item is exempt pursuant to CEQA Guidelines Section 15061(b)(3).