California community choice aggregator (CCA) East Bay Community Energy (EBCE) has been given an “A” issuer credit rating from S&P Global Ratings.
S&P cited EBCE’s solid financial performance. At fiscal year-end 2021, EBCE had no debt outstanding.
The rating agency also said that EBCE's environmental risk exposure is low, based on its predominantly carbon-free resource portfolio.
The outlook is stable.
“The credit rating is important for two reasons,” said EBCE CEO Nick Chaset. “For EBCE’s counterparties, such as renewable energy project developers, it shows that we’re on solid financial footing and are low risk, which can help us secure the best terms in our contracts. This translates to better access and service of low-cost, long-term renewable energy for EBCE customers in the decades to come.”
EBCE operates a community choice energy program for Alameda County, Calif., and fourteen incorporated cities, serving more than 1.7 million residential and commercial customers.
EBCE initiated service in June 2018 and expanded to the cities of Pleasanton, Newark, and Tracy in San Joaquin County in April 2021.
The American Public Power Association has initiated a new category of membership for community choice aggregation programs.