Standard & Poor’s projects that California public power utilities will continue to maintain stability in their credit ratings, despite the challenges facing them. The rating agency released a report, “California Public Power Utilities Wrestle With Competing Energy Demands And Global Warming Strategies,” on Monday.For more than a decade, the report said, the California electric industry has experienced a series of challenges, such as its failed attempt at deregulation, extreme power market price volatility, drought, and, most recently, wildfires.As a whole, the state’s public power industry has met those challenges with good financial performance, management planning, and strong and stable customer bases, the report said.Today, the utilities must face growing load demand, reliance on natural gas, and the state’s position as a leader in addressing global warming.“Rating upgrades may be limited due to cost pressures associated with drought, natural gas supply, and demands on the utilities to address renewable energy targets and other environmental regulations unique to the state,” the report said.
-
While the municipal market barely budged following the Fed's decision to cut rates 50 basis points, Thursday saw muni yields rise up to two basis points, depending on the scale, but still lagged the weakness in USTs. LSEG Lipper reported $716 million of inflows into municipal bond mutual funds.
8h ago -
The Fed's 50 basis point cut surprised many, as a looming federal election and all the uncertainty that brings complicates efforts at forecasting.
9h ago -
The product is designed to give SOLVE's customers visibility into "next-trade" pricing data for more than 900,000 munis.
9h ago -
After getting positive outlooks from three rating agencies since 2023, Oklahoma received its first upgrade.
9h ago -
The agency cited a sustained commitment to healthy reserves and structural balance.
9h ago -
The plan involves building modern infrastructure and streamlining government operations and delivery of services.
9h ago