In New Challenge for California’s Utilities, Rating Agency Warms to Community Aggregators
The community-choice aggregators disrupting California’s electricity market have come a long way in a short time, and the credit rating agencies are taking notice. Peninsula Clean Energy, which procures electricity for around 300,000 accounts in the San Francisco Bay Area, obtained an investment-grade credit rating this week from Moody’s along with a stable outlook. It’s the second community-choice aggregator (CCA) to secure such a rating, after Marin Clean Energy did so last year. With investment-grade ratings in hand, CCAs may be able to negotiate better credit terms and lower energy prices, making them more competitive suppliers of renewable power.
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