On Friday October 16, 2020 Standard & Poor’s (S&P’s) Global Ratings assigned 3CE with an ‘A’ credit rating, the highest rating received by a California community choice aggregator (CCA) to date. 3CE joins three other CCAs (MCE, Peninsula Clean Energy and Silicon Valley Clean Energy) who also received credit ratings further strengthening the viability and financial sustainability of the CCA industry. Like so many 3CE accomplishments, the support of customers and communities we serve played an instrumental role in this achievement. Other contributing factors as noted by S&P include strong economic fundamentals, comprehensive governance structure, robust energy risk management policy and experienced executive leadership.
”Achieving the first ‘A’ rating is a testament to our Boards, customers, staff and 33 communities that believe in the CCA model as critical to our affordable clean and renewable energy future,” stated 3CE’s CEO Tom Habashi. “This rating also demonstrates the viability of both the CCA business model and the leadership that CCAs provide in achieving California’s greenhouse gas emission goals while providing reliable low-cost electricity. 3CE’s CEO Tom Habashi said.
3CE’s ‘A’ Rating will aid in accelerating the path to 100% clean & renewable energy for Central Coast communities, increasing wholesale buying power, lowering transaction costs & helping us make innovative financing structures for energy challenges.
Please click here to learn more and review S&P’s full rating action.