California community choice aggregator Peninsula Clean Energy has received an A- rating from S&P Global, the CCA said on June 21. The rating is the highest Peninsula Clean Energy has received from a credit agency.
Peninsula Clean Energy has previously received ratings of BBB+ from Fitch and Baa2 from Moody’s Investors Service.
The benefits of the higher rating include the potential for Peninsula Clean Energy to negotiate lower energy prices and improved credit terms for future power purchasing needs as it moves toward its utility sector-leading goal of achieving all-renewable power on an hourly basis, it noted.
“The higher rating also assures regulators and legislators that the CCA business model provides a stable framework for serving customers and advancing California’s low-carbon energy future,” it said.
Peninsula Clean Energy is the official electricity provider for San Mateo County and for the City of Los Banos.
