3CE Gets ‘A’ Credit Rating From S&P
California Energy Markets
Standard & Poor’s gave Central Coast Community Energy an “A” issuer credit rating Oct. 16, an indication that S&P considers the community choice aggregator “stable.”
3CE—formerly known as Monterey Bay Community Power—said it expects the rating will ultimately boost the number of counterparties competing for its wholesale contracts, lower its transaction costs, and provide it with access to “innovative financing structures” needed for developing energy solutions.
“3CE is proud to receive the first ‘A’ investment grade credit rating among California CCAs,” Bruce McPherson, 3CE policy board chair and Santa Cruz County supervisor, said in a news release. “This is a testament to the hard work and forward thinking 3CE staff and leadership have demonstrated since launching in 2018 . . . This historic rating will allow 3CE to embark on an even more impactful path towards reducing greenhouse gas emissions through local energy programs and energy procurement, and it helps to ensure the longevity and continued success of 3CE on behalf of our communities.”